Silk Road forums

Discussion => Silk Road discussion => Topic started by: MagicMan on September 30, 2011, 06:25 pm

Title: If Silkroad goes down...
Post by: MagicMan on September 30, 2011, 06:25 pm

What happens to the money/BTC in escrow? Does it still get sent to the vendor when the auto-finalize timer hits 0 or does the timer not work when the site is down?

Title: Re: If Silkroad goes down...
Post by: nomad bloodbath on September 30, 2011, 09:18 pm

There is a place under you account tab were all funds should be released to a backup third part address you setup. I suggest everyone add an address to a private bitcoin client wallet to secure your funds if the site goes down.

:D
nomad bloodbath

Title: Re: If Silkroad goes down...
Post by: MagicMan on October 02, 2011, 04:51 pm

So lets say I am in the processing of buying something from some vendor, I put that item in the cart and put the BTC in escrow, my purchase then gets mailed and marked "in transit" when all of a sudden Silkroad goes down! To whom would the escrowed money go to, the buyer or the seller? If it went to the buyer then it seems like the vendor got screwed for the value of the product. I'm not a vendor here, just a buyer, but I'm all about fairness and was interested in how this worked.