Escrow Accounts

[SimplyBac]

This may require a totally different system, but I am sure some savvy coders on this website will love to make an effort to help everyone.


My idea is an escrow account on MCM or a website affiliated with it.
This will be free, open source (if you want), and either on the current website or another affiliated site.

Example:

Bob is trading $5 of BTC for $6 of USD to Jeff.
The website can pay for the fees of sending BTC using ads or donations.

Scenario 1:
Bob transfers the BTC to the Escrow.
But Jeff does not.
The BTC is sent back to Bob and Jeff gets nothing.

Scenario 2:
Bob transfers the BTC to the Escrow.
Jeff transfers the USD to the Escrow.
Both users confirm the trade, and both users get there money sent.

Example 2 :

Minecraft accounts!

First, the user that is selling the Minecraft account logs into the account and the server confirms the account and the username that the buyer was promised. Once that is done the buyer puts the money into the escrow and it is swapped.


This has endless uses with files/worlds and there is no chargeback. You can add an option to report the player directly to staff and it can even have a messaging system that is logged. This will not only help STAFF but also many players getting scammed.

EDIT: You can log in with MCM account possibly (or at least confirm your identity) and you can have a built in reputation meter.

 

[Turtle]

This may require a totally different system, but I am sure some savvy coders on this website will love to make an effort to help everyone.


My idea is an escrow account on MCM or a website affiliated with it.
This will be free, open source (if you want), and either on the current website or another affiliated site.

Example:

Bob is trading $5 of BTC for $6 of USD to Jeff.
The website can pay for the fees of sending BTC using ads or donations.

Scenario 1:
Bob transfers the BTC to the Escrow.
But Jeff does not.
The BTC is sent back to Bob and Jeff gets nothing.

Scenario 2:
Bob transfers the BTC to the Escrow.
Jeff transfers the USD to the Escrow.
Both users confirm the trade, and both users get there money sent.

Example 2 :

Minecraft accounts!

First, the user that is selling the Minecraft account logs into the account and the server confirms the account and the username that the buyer was promised. Once that is done the buyer puts the money into the escrow and it is swapped.


This has endless uses with files/worlds and there is no chargeback. You can add an option to report the player directly to staff and it can even have a messaging system that is logged. This will not only help STAFF but also many players getting scammed.

EDIT: You can log in with MCM account possibly (or at least confirm your identity) and you can have a built in reputation meter.

too expensive and risky for the site

these are the reasons why this was declined before

 

[Mick]

If everyone on this site dealt exclusively with bitcoin and accounts couldn't be taken back with the transaction ID, then we would consider it. At the moment it wouldn't stop scams completely, so it's a waste of time and money.

 

[SimplyBac]

At the moment it wouldn't stop scams completely

I don't see how it won't stop 99% of the scams. They really can't charge back because it's held in the database.

 

[SimplyBac]

There would also have to be specific categories of sales because someone could be selling something very specific that escrow can't handle

We can somewhat make it like CSGO trading. Just better tho

 

[Ivain]

We can somewhat make it like CSGO trading. Just better tho

What it does is remove scams from 1 side of the equation. sellers cant be scammed as easily. Buyers can, however, and a lot of buyers are the ones getting scammed

 

[SimplyBac]

What it does is remove scams from 1 side of the equation. sellers cant be scammed as easily. Buyers can, however, and a lot of buyers are the ones getting scammed

How can the buyer be scammed?

 

[Ivain]

How can the buyer be scammed?

Because of accounts getting taken back (minecraft accounts). Or a product being invalid/downloaded/stolen. If I sell someone a minecraft world exclusively, and then a week later I sell it again to someone else, I've effectively scammed the first seller (and the second if I claim its exclusive the second time). They can't do a thing.

For purely financial transactions, it should work. But with products it will just make it onesided.

 

[SheepeyDarkness]

I don't understand the minecraft account escrow. Can't the player still log into the server and give invalid credentials?

 

[Thanh]

I don't understand the minecraft account escrow. Can't the player still log into the server and give invalid credentials?

Guessing it will pass through Mojang to be checked.[DOUBLEPOST=1502394277][/DOUBLEPOST]This is a good idea, however, it should be completely separate from MCM to avoid liability. When something goes wrong fingers may get pointed at both the site and MCM. MCM could recommend people to the site, but not necessarily affiliate or endorse the site (maybe later down the road when the site is proven stable).

It should also be developed by a dedicated team if it is to come to fruition, as something like this requires extensive time and money to develop which would deplete resources that MCM could use on further developments of MCM. MCM should be the highest priority.

 

[Mick]

If everyone on this site dealt exclusively with bitcoin and accounts couldn't be taken back with the transaction ID, then we would consider it. At the moment it wouldn't stop scams completely, so it's a waste of time and money.

Denied, thanks for the suggestion.