[ANN] Mediator Service :: Buy and Sell your Bitshares using our service

[arubi]

So basically, you propose to hold our Bitcoin for us until Bitshares comes out?

Obviously I'm not asking for anyone's bitcoin.
If you've never seen a mediator thread on a forum before, let me assure you that this occurrence is completely normal.
A 3rd party, who is trusted by both the 1st and 2nd party, acts as a mediator of a trade between them.
My team and I now offer this service, and it's up to the community to either use us or not.

I would also recommend using multi signature transactions with us, that way we can't even touch your coins, just send them to the seller in case an honest trade completes, or back to the buyer in any other case.

To say that we offer to "hold bitcoins" is to miss the point completely.
In case a the buyer decides to use our service not with multi-sig transactions, we would actually be holding his bitcoins, but only to the same extent as the above cases. If a trade has completed successfully, the seller gets the coins. If not, the coins return to the buyer.
Now, either the buyer or seller of Bitshares can set the price for the trade themselves, and us as 3rd party are only there to make sure that if and when Bitshares is released, the original terms of the trade are kept.

Let me know if I missed something.

[donkeypong]

So basically, you propose to hold our Bitcoin for us until Bitshares comes out?

[arubi]

Hi all,

I'm arubi and my team and I run www.BuyBitshares.com .
You might have seen our ad on the forum if you've browsed here during the last few days.

The ad is down now, and we won't be advertising on this forum for the time being, but we do have a new service that might be of use to you during this time.

It seems that after our little ad run, a number of voices on the forum have expressed their willingness to buy or sell Bitshares, kind of like what we have running on our website, but on their own terms and price.
The problem still, there are no Bitshares to be actually transferred and a trade can not happen without the trust of actually fulfilling the deal once Bitshares XT is released.

Today we'd like to offer you our services as mediators for these trades.
Since we still have our system up and ready, it'd be a waste to not find a good use to it for the community.

The Mediator service takes two forms :

- The simple, old fashioned way
- The more advanced, multi-sig way

The old fashioned way is widely known and used in many forums for inside-forum trading and exchange of funds between users.
A trusted 3rd party takes the role of a mediator between the two trading sides.
The buyer sends the funds (Bitcoin in this case) to the 3rd party, who now 'holds' them until the trade is complete.
Upon a succesfull trade, the 3rd party releases all funds to the seller, minus a small fee, taken from the seller's side of the deal.

The new way involves the use of multi-signature transactions, currently supported on the Bitcoin network.
In this way, the trusted 3rd party never has actual hold of the funds, and can only regulate to which side the funds will be sent to (i.e. back to the buyer, or to the seller).
The process of creating and using a multi-signature address is not complicated, but does require a small bit of understanding in how the bitcoin network works.
We will be releasing a short guide on how to use this way of exchange if there is demand for it, but as said before, the major advantage of using multi-sig is that only public information is ever exchanged, and the actual use for a 3rd party comes into play only when a dispute occures between the sides. Other than that, the trades are managable between the two sides exclusively.

See an explanation here : http://buybitshares.com/mediator-services/

Our public key is at the end of this post. Please choose the method that works well for you when generating an uncompressed key.
Websites like https://coinb.in/multisig/#newKeys and http://brainwallet.org/#generator will help you with creating an uncompressed keypair.
The uncompressed public key is the long string starting with 04.
You will later have to import the private key into your Bitcoin client.

So, what should you do if you want us to be a mediator in a trade?

As a seller (have Bitshares to his name, wants to sell them now) :

1. Name your price
2. Amount of Bitshares to sell
3. A signed proof of holdings using the Bitshares-PTS address associated with your Bitshares
4. Bitcoin uncompressed public key (required only for multi-sig transactions)


As a buyer (want to buy Bitshares now, with Bitcoin) :

1. Name your price
2. Amount of Bitshares to buy
3. Bitcoin Public key (required only for multi-sig transactions)


Our public key for multi-sig transactions :

Code: [Select]

041630C5C6A0AD388396943FD864BD01D26333788AFF79BF9AB501BF6E0A473B2487B0F488B0219B3C942811FDA5A211DA5825E5776B4FB2058867DD3A63D10ADF
Our public address for regular transactions :

Code: [Select]

1Escrow18oTkWFjQwZ3Zqdr2gfSfeDMkY2
NOTE : A public key is not a public address. Please see above for a short explanation.

Terms :

1. The rate of BTC \ Bitshares will be based on the BTC \ USD conversion rate according to bitcoinaverage.com at the message is posted
2. Our fee for a trade is 2%. Of course, we can not enforce the fee on members who choose to use multi-sig, but we do trust this community to do the right thing.


Small bounty :
Translate this message into Chinese - 2.0 Bitshares-PTS

We hope that by using this service, buyers and sellers could buy and sell their Bitshares at a fixed price that is good for them.

Thank you for reading,
the BuyBitshares.com team

For more information : http://buybitshares.com/mediator-services/