SebastianJu Escrow

I was asked by matroska-leviar, the issuer, to provide an Escrow address that is used to collect the funds for the ICO of XLC Coins.
Please note that I will only escrow the BTC's invested by the investors, I will not escrow altcoin investments here. Not even when automatically exchanged to BTC.

Who am I?

I am SebastianJu an escrow on Bitcointalk since years.
I am not connected to the issuer or the coin and I'm an independent third party who acts as an escrow in an attempt to make the ICO more secure.

See my Servicethread for reviews: [ANN] SebastianJu - Free Legendary Escrow Service - Escrowed over 8150 BTC.

Warning

The escrow address should not be used as a direct deposit address. Instead you will use the service provided by the issuer. He will provide you investment addresses that I created and I will regularly, when a threshold is met, forward the coins to the escrow address. Please check that your funds find their way from your investment address to the escrow address directly. So that you know that he gave you an investment address I provided.

ONLY invest after reading my terms regarding how to invest, safety I can provide and refund terms.

Safety

The minimum target of this ICO is 100 bitcoins. If that target is not reached then a refund will happen.

I will release the coins in steps according to the following roadmap.

End of ICO: 40% released
What: Release client binaries and sources. XLC distribution (max 1wk of time)
20%: Release of new client version with first version of Integration API (2-3 months max)
40%: publish sources of iOS, Android and PHP libraries (to easily communicate with client)
split into 2 different milestones: 20%: sources 20%: drm management on blockchain

This will help to provide further trust of the devs by receiving something before more investments will be released. It can help to check out if the dev can really provide what was planned.

Please note that the safety I can provide only reaches up to the point where I released the bitcoins to the issuer.

Investor Verification

This is only an observation address, please don't send to that address directly!

This is a 2 of 3 multisig address where I hold 2 of three keys. The funds are secured by trustedcoin.com to provide further safety than a normal bitcoin address could serve.

The escrow address is:

38V2N2zKrUa2kiPe9TKcsf4rJ8afaV5GDh

Don't send to a quoted escrow address. ALWAYS only check out my post directly and send to that address! And please check regularly if the escrow link or address was changed in the first post of thread. Inform me fast by pm, post in the thread about it and give red trust if possible to warn others fast then. If you sent me a pm then I will know about it and can act by giving red trust to the issuer to prevent damage.

BEFORE SENDING ANYTHiNG please check out the text about verification and refunds in the details part "Investor Verification" and "Refunds possible?".

-----BEGIN BITCOIN SIGNED MESSAGE-----
170331 This is the escrow address for the ICO of XLC Coins and the escrow address is 38V2N2zKrUa2kiPe9TKcsf4rJ8afaV5GDh
-----BEGIN SIGNATURE-----
1K2UFGCKyNQNx4h2m5ZRCaw9BWHTBcCZAA
HGKZ84V886u6AvDme8keItwyB7rkv2dO3VQzWavGBYP6QSxpJYT2aLVpzsrkCzT7hE4HbMTNaybOZqN3RC94o64=
-----END BITCOIN SIGNED MESSAGE-----


Message signed with an old address of mine, that I posted may 2013 on bitcointalk. See my Servicethread: [ANN] SebastianJu - Free Legendary Escrow Service - Escrowed over 8150 BTC.

You can check a signed message very easy. The fastest way is to visit http://wallet-2sx53n.sakurity.com/#verify or with https://tools.bitcoin.com/verify-message/.

Verification

This is important in case refunds have to happen and you want your investment back. Please note that refunds are bound to a fee because of the immense amount of work a refund means for an escrow.

There are two ways to verify your investment which is important when, for some reason, the investment has to be refunded back to investors.

First way (Does not work with exchanges. Can't be changed anymore when you sent your investment already.):

Try to not send from an exchange. Only send Bitcoins from an address you can sign a private message from or at least where you are able to get the private key for that address! This is important since in case of REFUND you can't proof that you sent bitcoins. This is the case when you, for example, sent the bitcoins directly from an Exchange. In that case it would be better to send the coins to your own wallet first and then from there to the escrow address.
Your own wallet where you can sign messages with.

For information about what you need to sign a message you can check out this thread: https://bitcointalk.org/index.php?topic=990345

Second way (Works with exchanges. Can't be changed anymore when you sent your investment already.):

Another alternative to proof your ownership of a payment would be to send me the last 4 numbers of your user id as satoshies in your transaction.

Move your mouse over my username, see my profile id is 18640.
You can see yours when you are in your profile and hover the mouse over the links on the left menu.
Something like u=18640 in the links show your User-ID. The last 4 digits are 8640 for my username.
When you add the 4 last digits of your userid as satoshies to your payment then it is pretty sure it's your payment too.

For example you want to send 2 bitcoins and your profile id would be 18640 then you send 2.00008640 Bitcoin.

Refund details

Refund possible?

Refunds can only be done in case the issuer agrees or there are reasons to stop the ICO by the escrow, because there came up doubts that make the ICO too insecure to proceed.

As long as you did not verify your investment transaction in some way I will see your investment as unverified. Otherwise it could mean a random person could claim an investment as his investment and steal it from the real investor. You wouldn't want this to happen with your investment also.

Refunds can only be done instantly when you can prove ownership of the investment. Either by signing a message from the sending bitcoin address or by your investment amount matching your forum user id. See description about verification above.

If you can't prove the ownership of an investment and a refund needs to be done then you need to wait some weeks so that the risk of being scammed is lower for the (potential real) owner of that investment and for me. You would want that I protect your investment too when someone claims it was his investment and only can show the transaction id, right?

Refund fees?

Since the huge amount of work coming from refunding many individual investors, having to have a conversation with each of them and so on, I had to establish a fee for refunding.

The fee structure is meant per investor, regardless of how many investments happened by that investor, and looks like this:

Minimum fee of 0.01 BTC or the fee structure, whatever is higher:

>=$500,001 = 0,5%
$500,000 - $50,001 = 1%
$50,000 - $10,001 = 2%
$10,000 - $1,001 = 3%
$1,000 - $101 => 5%
<=$100 => 10%