Can you tell me how its possible to get scammed on East India Co?

So after setting everything up I cant seem to see anyway for anyone to get scammed. Running electrum through tor seems to be fairly safe and also having the 2 sig system prevents any 1 single person from scamming. Am I missing something?


Comments


[3 Points] yalldontknowjack:

Vendor sends empty box, with tracking.


[2 Points] GrandWizardsLair:

Nothing is foolproof. A vendor could send you bunk product or talk you into doing a direct deal offsite then run off with your bitcoins. And if you use conventional escrow on EIC instead of multisig all the usual risks apply. That being said, EIC is one of the most scam-resistant sites the Grand Wizard has yet seen.

(About the only other step they could take is to go multisig-only, but that would likely result in customers heading off to sites which offer centralized escrow then bitching when those sites ran off with their coins... ).


[1 Points] Golden-Era:

If the market goes down, the coins will be released to the vendor no matter what because of the time lock on multisig. So, in theory, the market could go down after an order is placed, then the vendor never send out the order and in 45 days still get the coins, even if the market and customer don't sign the transaction.


[1 Points] 1ReviewReviewer1:

No market is scam proof bud! Sad as it is :(


[1 Points] helloooooooowowowo:

Easy, everyone piles on because they herd about EIC's scam-free multisig then decides its too much work and ends up using central escrow which EIC promptly runs off with.


[1 Points] TripAddict:

No market is the perfect market. Trust me. Even with multi-sig, vendor can just send you a empty box. But it does decrease the chance of getting scammed by a vendor.


[0 Points] Sampedro916:

So far Ive been fortunate wuth indian suppliers, i guess its what you try to get, i make them give me a sample first.