Listen man, I am a firm believer once you start to let your guard down, shit hits the fan. This not only goes for LE, but to trusting others too. When we break it down, there is only so much trust I can have with someone who types to me. Call me paranoid, but I feel like once I start feeling comfortable with a vendor, that's when I become most vulnerable.
It just seems like common sense to me.
I can only afford to lose so many millions of dollars when these marketplaces scam me or get raided. Three million US dollars is enough for me. As I said, my customers are happy to FE.
At the supermarket or at walmart or anywhere else, would you guys purchase say a $500 TV without a receipt? Walmart has been around for a long time now, they are reputable. We even know where walmart lives, all the info to there stores and everything. I wouldn't buy anything from them without a receipt that guarantees me the product for atleast a little while.
And I wont ship anything without a guaranteed payment and I don't have a guaranteed payment with escrow as we have seen time and time again in the last few months. But you except every vendor to front their drugs with a hope of a marketplace not scamming them or not getting raided by the authorities? Sorry, I lost almost THREE MILLION US dollars in BTC in TWO MONTHS by trusting Silk Road and Sheep that way and not requiring FE.
If you were the one losing millions of dollars every month then you would understand.
Jack, I do not wish to appear insensitive because if I had lost what you did I would have been devastated but I having observed you posting regarding this over recent weeks I felt the need to point something out.
At the time the old SR was seized you claimed to have somewhere in the region of $250,000 to $300,000 worth of BTC in your SR wallet. I appreciate the value of those coins has now grown a lot however those were not escrowed funds, you left those funds in your SR online wallet in the hope of transferring them later so to continuously repeat escrow is what cost you millions of dollars is being rather disingenuous. You lost those coins because you left them in your SR online wallet which is something that is highly ill-advised.