Silk Road forums

Discussion => Silk Road discussion => Topic started by: onesickpuppy on February 10, 2013, 06:48 pm

Title: SR MoneyPak Escrow?
Post by: onesickpuppy on February 10, 2013, 06:48 pm

I don't want to use a fake identity to get BTC's. Why? Because that's  identity theft. The phone number and the person have to match. I don't want to get any innocent souls in trouble for my indiscretions. It just wouldn't feel right to me. This goes against my principles of doing no harm to others.

Feel free to tear me a new one if this is heavily flawed:

We trust Silkroad with all of our bitcoins. So why cant we trust SR to hold MP numbers in escrow, until a BTC seller actually places the required BTC in an escrow BTC account?

Yes, Silkroad would have to check at least once (maybe) that the MP hasn't been spent, but the BTC seller could trust that SR would give the BTC back if the MP has somehow been spent already. All the BTC seller has to do is put their BTC in an SR designated  escrow account (not the end user's) account.

Penalties for the user (or seller) could be harsh for trying to scam the other side. Such as loss of access or worse, a fee (expressed in BTC) I'm thinking that perhaps the MP could be secured with the user putting an amount of BTC in another account and if a scam tries to take place the user loses their BTCs. (chicken and the egg problem comes to mind)

If there was a way the SR could securely check that the MP hasn't been spent (without spending it) just before giving it to the BTC Dealer this would work. If there isn't then this will never work.

But if this worked, the number of scams when people try to buy BTC with MP's would go down to zero!!


Please shoot this idea down if you can y'all