Buyers/Sellers: Use Atomic Trades, or Be Careful!

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Buyers/Sellers: Use Atomic Trades, or Be Careful!

Post by biolizard89 »

So, you're interested in buying or selling a name? Cool. There's just one thing you should keep in mind.

Cryptocurrency transactions are irreversible. If you pay for a name, and the seller never sends it to you, or vice versa, there is no way to fix the situation. Luckily, there is a working solution: atomic trades. It is possible (and relatively easy) to trade Namecoin currency for a Namecoin name in the same transaction, such that there is minimal risk for either party. Right now the easiest way to do this is with ANTPY.

If you're asked to buy or sell a name without using an atomic trade, be careful, because if something goes wrong, no one can help you get back your money and/or name. For the moment we won't restrict what people can do in this forum in this regard; just consider this friendly non-binding advice.

Of course, a bug in the atomic trading software could destroy the name and/or the currency. The software has been used successfully by a number of people, but keep in mind that no warranty is implied. (Tell us if you have issues though.)

Trade safely!
Jeremy Rand, Lead Namecoin Application Engineer
NameID: id/jeremy
DyName: Dynamic DNS update client for .bit domains.

Donations: BTC 1EcUWRa9H6ZuWPkF3BDj6k4k1vCgv41ab8 ; NMC NFqbaS7ReiQ9MBmsowwcDSmp4iDznjmEh5

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