Silk Road forums
Discussion => Newbie discussion => Topic started by: Phonkey on July 15, 2013, 07:42 am
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So, new to SR and after reading a few threads, ive become lost in the use of acronyms/phrases used.
if anyone could please help me understand what these mean it would help me with reading other threads better
so here they are:
LE
Love letter
Finalize Early
Escrow
Thanks to anyone who replies
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LE - Law Enforcement. Guys looking to bust us on SR. Don't ever sign for packages - it's a tactic LE gets permission to search your house for drugs or evidence that you bought the drugs in the package. The tactic is called a CD (controlled delivery). Yeah, never sign for stuff, just deny deny deny, 'i never ordered this package and i wont sign for it'. k got carried away.
Love letter - don't recall 100%. something about getting a fake love letter from LE or something and them wanting you to come to the package center to pick something up or something. sorry i don't remember.
Escrow - the middle man that makes sure transactions go smoothly. When you buy something on SR, the btc go into escrow, the middleman. He won't give the money to the vendor until you tell them you received the package. this is to protect the buyer as well as the vendor i think. If your package doesn't arrive you can make a claim about it to resolve it and if a refund is in order, escrow will give your money back. Because btc is anonymous 1 time transactions, escrow acts as a fair middleman to make the process of buying secure, safe, possible even.
Finalize Early - when you receive your package, you 'finalize' meaning you tell the escrow middleman that you received the package and he can send your money he's holding to the vendor. if you finalize early (fe) you are finalizing before you get your package. it's risky in that there is more trust involved to do this and people can often get scammed this way. let's say you trust your vendor and fe so he receives the money and can send you your package with peace of mind having already received your money. or it could go wrong and he could just keep your money and never send the package. just don't ever FE is the generally recommneded advice.
sorry for all the text, just bored and wanted to do more to up my post count!
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LE- law enforcement
2. no fuckin idea
escrow - is when the money has been taken from the buyer but has not been given to the seller yet because the buyer hasnt finalized
finalize - basically confirm to send them the money. you dont have to pay the buyer immediately but your funds will be removed immediately/ kind of like an anonymous anarchist PayPal
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LE - Law Enforcement. Guys looking to bust us on SR. Don't ever sign for packages - it's a tactic LE gets permission to search your house for drugs or evidence that you bought the drugs in the package. The tactic is called a CD (controlled delivery). Yeah, never sign for stuff, just deny deny deny, 'i never ordered this package and i wont sign for it'. k got carried away.
Love letter - don't recall 100%. something about getting a fake love letter from LE or something and them wanting you to come to the package center to pick something up or something. sorry i don't remember.
Escrow - the middle man that makes sure transactions go smoothly. When you buy something on SR, the btc go into escrow, the middleman. He won't give the money to the vendor until you tell them you received the package. this is to protect the buyer as well as the vendor i think. If your package doesn't arrive you can make a claim about it to resolve it and if a refund is in order, escrow will give your money back. Because btc is anonymous 1 time transactions, escrow acts as a fair middleman to make the process of buying secure, safe, possible even.
Finalize Early - when you receive your package, you 'finalize' meaning you tell the escrow middleman that you received the package and he can send your money he's holding to the vendor. if you finalize early (fe) you are finalizing before you get your package. it's risky in that there is more trust involved to do this and people can often get scammed this way. let's say you trust your vendor and fe so he receives the money and can send you your package with peace of mind having already received your money. or it could go wrong and he could just keep your money and never send the package. just don't ever FE is the generally recommneded advice.
sorry for all the text, just bored and wanted to do more to up my post count!
thanks a ton m8
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thanks for helping newbies guys, it is much appreciated!