Escrow Service Contract ($20,000) : GenesisMix.cx vs Little Mouse

[Little Mouse]

Code: [Select]

BEGIN BITCOIN SIGNED MESSAGE-----
This contract, between GenesisMix.cx (Service provider) and Little Mouse (myself), secures $20,000 worth of Bitcoin (current value) to resolve any dispute against the Service provider.
Withdrawal request of the fund from the Service provider will require at least 7 days & up to 1 month waiting period to be released.
I reserve the right to declare a fair resolution for any dispute against the Service provider and my decision is always final.
Victim customers must provide a Letter of Guarantee with any other vital information that they have to resolve a dispute fairly.
For any dispute we will cover up to the BTC amount I'll be holding. The process will be first come, first served.
Once genesismix.cx sends the fund and quotes the post, the contract activates immediately.
I can terminate the contract any time I want by requesting a refund address from user genesismix.cx to send the funds back.
Once the contract is terminated, both parties should notify it by posting a termination update on this topic.
BEGIN BITCOIN SIGNATURE-----
bc1q4ytcr43xq6xjpj6z0s76r4x4rx2g4fe5qvv9yc
H3+7B9BXKD2UoX3flWiULUH1aHH25kvpyMXFrCdQ6klaP248pwpVwSjKFPjjkI34EIkb2JfkjsCTvvfuSrZYJTQ=
END BITCOIN SIGNATURE-----


[Little Mouse]

My address posted here- https://bitcointalk.org/index.php?topic=5378474.msg60766738#msg60766738:~:text=bc1q4ytcr43xq6xjpj6z0s76r4x4rx2g4fe5qvv9yc

[genesismix.cx]

Code: [Select]

BEGIN BITCOIN SIGNED MESSAGE-----
This contract, between GenesisMix.cx (Service provider) and Little Mouse (myself), secures $20,000 worth of Bitcoin (current value) to resolve any dispute against the Service provider.
Withdrawal request of the fund from the Service provider will require at least 7 days & up to 1 month waiting period to be released.
I reserve the right to declare a fair resolution for any dispute against the Service provider and my decision is always final.
Victim customers must provide a Letter of Guarantee with any other vital information that they have to resolve a dispute fairly.
For any dispute we will cover up to the BTC amount I'll be holding. The process will be first come, first served.
Once genesismix.cx sends the fund and quotes the post, the contract activates immediately.
I can terminate the contract any time I want by requesting a refund address from user genesismix.cx to send the funds back.
Once the contract is terminated, both parties should notify it by posting a termination update on this topic.
BEGIN BITCOIN SIGNATURE-----
bc1q4ytcr43xq6xjpj6z0s76r4x4rx2g4fe5qvv9yc
H3+7B9BXKD2UoX3flWiULUH1aHH25kvpyMXFrCdQ6klaP248pwpVwSjKFPjjkI34EIkb2JfkjsCTvvfuSrZYJTQ=
END BITCOIN SIGNATURE-----


More than $20,000 sent at today's rate. Contract activated, hopefully. Please confirm. We will add a link to this topic in our website.

[Little Mouse]

Code: [Select]

BEGIN BITCOIN SIGNED MESSAGE-----
This contract, between GenesisMix.cx (Service provider) and Little Mouse (myself), secures $20,000 worth of Bitcoin (current value) to resolve any dispute against the Service provider.
Withdrawal request of the fund from the Service provider will require at least 7 days & up to 1 month waiting period to be released.
I reserve the right to declare a fair resolution for any dispute against the Service provider and my decision is always final.
Victim customers must provide a Letter of Guarantee with any other vital information that they have to resolve a dispute fairly.
For any dispute we will cover up to the BTC amount I'll be holding. The process will be first come, first served.
Once genesismix.cx sends the fund and quotes the post, the contract activates immediately.
I can terminate the contract any time I want by requesting a refund address from user genesismix.cx to send the funds back.
Once the contract is terminated, both parties should notify it by posting a termination update on this topic.
BEGIN BITCOIN SIGNATURE-----
bc1q4ytcr43xq6xjpj6z0s76r4x4rx2g4fe5qvv9yc
H3+7B9BXKD2UoX3flWiULUH1aHH25kvpyMXFrCdQ6klaP248pwpVwSjKFPjjkI34EIkb2JfkjsCTvvfuSrZYJTQ=
END BITCOIN SIGNATURE-----


More than $20,000 sent at today's rate. Contract activated, hopefully. Please confirm. We will add a link to this topic in our website.

Confirmed that I received 0.22x BTC.

[examplens]

Hey, you two, Little Mouse and genesismix.cx, what you did is incomplete.

First, Little Mouse, you've seen that Bitcointalk isn't much help when it comes to mixers anymore. Your similar thread there was deleted because it was considered promotional for Genesismix.
OK, we are now on the AltcoinTalks forum, and it should be completely like that. For some forensics, your post with the BTC address quoted in some kind of bounty thread can be taken into account, but it is certainly not the right way or final proof for anything.
BTT and ALTT forums have no special connections, except that they are both crypto-oriented. Well, the address proof link you made is not the best solution.
We also have a thread on this forum for staking Bitcoin addresses, and it would be good if you could do that here as well. One of the other forum members will already confirm your signature
Check: ✅ Stake your Bitcoin address

Next, here are only your words that you hold Genesismix's funds as escrow 0.22 BTC. You need to confirm in public control over that address as well, by signing it, of course.
If, for any reason, that address must be anonymous, you can arrange it with the help of an independent, reputable user from here. Although escrow should be public.
For example, genesismix.cx What if LM spent all or part of the funds? How would you prove that they were your Bitcoin? We don't know that, we would have to take LM's word for it. Or vice versa.
Escrow should serve to cover all possible doubts, it should not be subject to guesswork and different interpretations.

Also, there is nothing about the terms and conditions of when the escrow payment will be activated or how long it will be funded...

[genesismix.cx]

For example, genesismix.cx What if LM spent all or part of the funds? How would you prove that they were your Bitcoin? We don't know that, we would have to take LM's word for it. Or vice versa.

We trust our escrow provider ofc, there will be no problem from our side. We are satisfied with his reputation that he earned the trust is more than enough for us to allow him to do all our disputes.

[rby]

For example, genesismix.cx What if LM spent all or part of the funds? How would you prove that they were your Bitcoin? We don't know that, we would have to take LM's word for it. Or vice versa.

We trust our escrow provider ofc, there will be no problem from our side. We are satisfied with his reputation that he earned the trust is more than enough for us to allow him to do all our disputes.

Good that you have such trust on Little mouse. We in the forum also trust him even more. I believe examplens concern is for your sake, since you are ok, we are good to go.

[examplens]

We trust our escrow provider ofc, there will be no problem from our side. We are satisfied with his reputation that he earned the trust is more than enough for us to allow him to do all our disputes.

The example I gave is just an example, it could go in any other direction.

The point is that the escrow deal, as you presented it, is not a guarantee for anything. We only have the information from him that you trust each other among yourselves. For a random user from the Internet, this does not mean much.

Good that you have such trust on Little mouse. We in the forum also trust him even more. I believe examplens concern is for your sake, since you are ok, we are good to go.

It's not a matter of concern for any party, I'm just pointing out that escrow cannot be "take my word".

[rby]

It's not a matter of concern for any party, I'm just pointing out that escrow cannot be "take my word".

I understand you. You are clamoring for standard escrow practices while both parties are okay with the gentle man agreement kind of escrow. I would have been bothered if the escrow service was someone we do not know or trust. If you observe well you will discover that little mouse is not even active in this forum.

[Little Mouse]

The point is that the escrow deal, as you presented it, is not a guarantee for anything. We only have the information from him that you trust each other among yourselves. For a random user from the Internet, this does not mean much.

Confirmed that I received 0.22x BTC.

This is what I said. What guarantee you are looking for? Read the above signed message. If there's any scam happens, I'll refund up to 0.22x BTC (escrowed fund) in total. What else guarantee you are looking for? Genesis is a random user from the internet, there's no need to take his words. Take what I'm sharing here and what I have agreed to do. That's all.

It's not a matter of concern for any party, I'm just pointing out that escrow cannot be "take my word".

Due to the escrow policy from genesis, I can't reveal the funded addresses. However, we have bitcoin message signed internally to prove that funded addresses belong to me. If in any case, I tried to cheat, genesis can claim their fund here with the signed message.

[examplens]

Due to the escrow policy from genesis, I can't reveal the funded addresses. However, we have bitcoin message signed internally to prove that funded addresses belong to me. If in any case, I tried to cheat, genesis can claim their fund here with the signed message.

I have already said that what you have presented does not meet the basic conditions of a valid escrow. It's okay if everything is based on your internal agreement and it concerns any deal between you. But if a third party is involved, namely potential users, then "take my word" is not enough.
Anyway, I suggested with the best of intentions that it is necessary to confirm the address with those 0.22 BTC, but it's your service, and you write the rules. I hope that in the end, there will be no need to use the escrowed funds.

[hugeblack]

I'll repeat some of the questions I asked in the deleted thread:
How will the refund mechanism work? If GenesisMix.cx becomes an exit scam, how will those affected be compensated? Will the first to come receive a full refund, a percentage, or what?


What is escrow period and does it cover TOS violations?


Will escrow increased if any unresolved issues occur or if transaction volume increases?

[Little Mouse]

Anyway, I suggested with the best of intentions that it is necessary to confirm the address with those 0.22 BTC

I can't share the addresses publicly. They are offering a mixing service. I think it doesnt make sense to publicly post them.
Instead, upon permission from genesis, I can trust sharing the addresses with a trusted bitcointalk forum member like LoyceV (is he here, sure he is not) or yahoo maybe.

@hugeblack

Will the first to come receive a full refund, a percentage, or what?

First come, first served. For example, user A (came first) was scammed for 0.15 BTC and user B (came later) was scammed for 0.10 BTC.
In that case, user A will get 0.15 BTC and user B will get the leftover fund.

What is escrow period and does it cover TOS violations?

Initially 6 months for now. That's based on the escrow fee they have paid me. One can claim the escrow fund if they have a valid LoG/proof which genesis haven't processed.

Will escrow increased if any unresolved issues occur or if transaction volume increases?

For unresolved issues, no. If there are valid unresolved issues which genesis can't address, they will be treated as scammer. I think this part of the question doesnt make any sense. Regarding the transaction volume increase, I believe that should be done. Intially, they may have very little amount of transactions and 0.22 BTC may seem enough but in the future, the volume may increase and they should increase this amount too. That's up to genesis, anyway. This question can be better addressed by the genesis team and you will get better response if you post in their ANN thread. This thread is for 0.22 BTC escrow agreement. 

[hugeblack]

Initially 6 months for now. That's based on the escrow fee they have paid me. One can claim the escrow fund if they have a valid LoG/proof which genesis haven't processed.

This looks good so far, I hope things go smoothly.
Just add a time delay in case anything happens and the contract expires or you want to send money to them.