Topic: Bitcoin Vs. Paypal - and PayPal is getting sued. - page 7. (Read 28606 times)
Thank you! You are taking a stand for all of us (literally all of us)
Good luck, they ruined my booming business too. I was at the peak of my sales and they limited me as well several times.
I was in the same position. I was at my peak, and I was selling more than 10 mining equipments a day. Then those bastard limited my account for 2 months. Now I got my account back. And I can't sell the price I was selling now.
Good for you and best of luck as others have said please keep us updated.
Go for it, just expect them to close your account give you a pittance and a NDA and forbid you from ever doing business with them again.
/sued paypal many years ago and won.
/sued paypal many years ago and won.
That's what I'm thinking too.
Good Luck Bro!!
I really hope you will win!
Maybe Bitcoin be with you!
I really hope you will win!
Maybe Bitcoin be with you!
Good luck, they ruined my booming business too. I was at the peak of my sales and they limited me as well several times.
Something seems...fishy about this whole story. I've never heard of Paypal having anything against bitcoins, especially the actual hardware used because it's just computer hardware.
There must be something else in that mess of a wall you're not telling people.
There must be something else in that mess of a wall you're not telling people.
I agree something is fishy with this story. It's not just paypal that does this, all merchant accounts have high risk departments that hold customers money for a certain amount of time. Paypal is just one of the worst because so many of their customers are joe smo's who have no merchant processing backgrounds and deal in high risk/high chargeback businesses (like selling used equipment, and in a notoriously chargeback friendly btc field)
Best of luck to the OP suing paypal though, seriously. Good to see someone really fighting. Hope that works out well for you. IMHO, I don't think this will go anywhere, at all.
It makes sense to me that Paypal is at odds with Bitcoin, therefore have decided to use these tactics. It's believable, to me.
Why does that make sense? Paypal has nothing to gain from being against bitcoins. Paypal is not a form of currency. Bitcoins in no way threatens their profits and business model, and bitcoins is not competing against them in any way.
My guess is OP did something else to piss them off and they had no choice. I mean, if you are doing a million dollars worth of sales like you said, then all they stand to do is benefit from your service. So you most likely did something wrong you aren't telling us.
It makes sense because Paypal's business is based on processing transactions. Once more people start using Bitcoin for their transactions, Paypall will do less business. Less business means less profit. Do you see the connection?
No I don't. Paypals business is based on secure, safe transactions.
Despite what everyone here will tell you, paypal isn't doing this because of profits. They're doing it to help combat fraud, which to me sounds 100% understandable. It says right in their policy you can't sell bitcoin miners or bitcoins, yet OP did anyways which is why they froze and put holds on his accounts.
Combat fraud?
I guess you missed the "HIT GOLD" section, and besides he is selling computers (miners) not bitcoins.
Is it true that their terms of service forbids selling Bitcoin mining hardware?
Even if it were true, ASIC for sha256 don't have to be used for Bitcoin..
Something seems...fishy about this whole story. I've never heard of Paypal having anything against bitcoins, especially the actual hardware used because it's just computer hardware.
There must be something else in that mess of a wall you're not telling people.
There must be something else in that mess of a wall you're not telling people.
I agree something is fishy with this story. It's not just paypal that does this, all merchant accounts have high risk departments that hold customers money for a certain amount of time. Paypal is just one of the worst because so many of their customers are joe smo's who have no merchant processing backgrounds and deal in high risk/high chargeback businesses (like selling used equipment, and in a notoriously chargeback friendly btc field)
Best of luck to the OP suing paypal though, seriously. Good to see someone really fighting. Hope that works out well for you. IMHO, I don't think this will go anywhere, at all.
It makes sense to me that Paypal is at odds with Bitcoin, therefore have decided to use these tactics. It's believable, to me.
Why does that make sense? Paypal has nothing to gain from being against bitcoins. Paypal is not a form of currency. Bitcoins in no way threatens their profits and business model, and bitcoins is not competing against them in any way.
My guess is OP did something else to piss them off and they had no choice. I mean, if you are doing a million dollars worth of sales like you said, then all they stand to do is benefit from your service. So you most likely did something wrong you aren't telling us.
It makes sense because Paypal's business is based on processing transactions. Once more people start using Bitcoin for their transactions, Paypall will do less business. Less business means less profit. Do you see the connection?
No I don't. Paypals business is based on secure, safe transactions.
Despite what everyone here will tell you, paypal isn't doing this because of profits. They're doing it to help combat fraud, which to me sounds 100% understandable. It says right in their policy you can't sell bitcoin miners or bitcoins, yet OP did anyways which is why they froze and put holds on his accounts.
Combat fraud?
I guess you missed the "HIT GOLD" section, and besides he is selling computers (miners) not bitcoins.
Go for it, just expect them to close your account give you a pittance and a NDA and forbid you from ever doing business with them again.
/sued paypal many years ago and won.
/sued paypal many years ago and won.
Good luck OP
That is just fucked up how the manager said "you are selling bitcoin, and they are our direct competition so we don't condone this"... wow, fuck em.
That is just fucked up how the manager said "you are selling bitcoin, and they are our direct competition so we don't condone this"... wow, fuck em.
Thanks for the story!
But how accepting credit cards by paypal have relation to freezing account because of no good reasons?
But how accepting credit cards by paypal have relation to freezing account because of no good reasons?
Something seems...fishy about this whole story. I've never heard of Paypal having anything against bitcoins, especially the actual hardware used because it's just computer hardware.
There must be something else in that mess of a wall you're not telling people.
There must be something else in that mess of a wall you're not telling people.
I agree something is fishy with this story. It's not just paypal that does this, all merchant accounts have high risk departments that hold customers money for a certain amount of time. Paypal is just one of the worst because so many of their customers are joe smo's who have no merchant processing backgrounds and deal in high risk/high chargeback businesses (like selling used equipment, and in a notoriously chargeback friendly btc field)
Best of luck to the OP suing paypal though, seriously. Good to see someone really fighting. Hope that works out well for you. IMHO, I don't think this will go anywhere, at all.
It makes sense to me that Paypal is at odds with Bitcoin, therefore have decided to use these tactics. It's believable, to me.
Why does that make sense? Paypal has nothing to gain from being against bitcoins. Paypal is not a form of currency. Bitcoins in no way threatens their profits and business model, and bitcoins is not competing against them in any way.
My guess is OP did something else to piss them off and they had no choice. I mean, if you are doing a million dollars worth of sales like you said, then all they stand to do is benefit from your service. So you most likely did something wrong you aren't telling us.
It makes sense because Paypal's business is based on processing transactions. Once more people start using Bitcoin for their transactions, Paypall will do less business. Less business means less profit. Do you see the connection?
I think the OP said he got the paypal rep to admit on a recorded phone call it was because of bitcoin. I just don't think a lawsuit will be won because of some low level rep saying something like this, and some of other parts of the story seem like there's some holes in it. What I really meant before was that Paypal holds large sums of money from people for a variety of reasons all the time - and they've been doing this long before bitcoin even existed. It's built into their TOS.
IMHO anything "bitcoin" related is high risk to paypal right now, the OP sold a lot of equipment and then when on the phone, talked about bitcoin. It raised even more red flags I'm sure. A lot of people got ripped off selling coins through paypal, and paypal is just protecting it's interests and it's customers by holding money for a certain amount of time to ensure lower risk/chargebacks. Trust me I'm not pro-paypal, just experienced in the hassles of selling in a high risk industry. It's the standard which many of you know.
Ah ok I misunderstood you then. And you're right. I think OP raised too many red flags with Paypal and they had no choice, and I believe Paypal and eBay took a strong stance against bitcoins because too many people were getting scammed and defrauded over a very short period of time. So they took a stand and prohibited the sale of mining equipment and such to help protect the consumers.
And as far as holding large sums of money. As I understand it, the reason is to ensure that their service is not being used for criminal activity, such as scamming consumers or money-laundering and whatever. It may seem silly and annoying to sellers but my guess is there is a good reason as to why they have this policy. So you are right g35fan
Brilliant, well done. The best of luck with the rest of this endeavour.
oh and a +1 on the paragraphs!
oh and a +1 on the paragraphs!
paragraphs would be nice. If this is true, All the best seeking justice.
Something seems...fishy about this whole story. I've never heard of Paypal having anything against bitcoins, especially the actual hardware used because it's just computer hardware.
There must be something else in that mess of a wall you're not telling people.
There must be something else in that mess of a wall you're not telling people.
I agree something is fishy with this story. It's not just paypal that does this, all merchant accounts have high risk departments that hold customers money for a certain amount of time. Paypal is just one of the worst because so many of their customers are joe smo's who have no merchant processing backgrounds and deal in high risk/high chargeback businesses (like selling used equipment, and in a notoriously chargeback friendly btc field)
Best of luck to the OP suing paypal though, seriously. Good to see someone really fighting. Hope that works out well for you. IMHO, I don't think this will go anywhere, at all.
It makes sense to me that Paypal is at odds with Bitcoin, therefore have decided to use these tactics. It's believable, to me.
Why does that make sense? Paypal has nothing to gain from being against bitcoins. Paypal is not a form of currency. Bitcoins in no way threatens their profits and business model, and bitcoins is not competing against them in any way.
My guess is OP did something else to piss them off and they had no choice. I mean, if you are doing a million dollars worth of sales like you said, then all they stand to do is benefit from your service. So you most likely did something wrong you aren't telling us.
It makes sense because Paypal's business is based on processing transactions. Once more people start using Bitcoin for their transactions, Paypall will do less business. Less business means less profit. Do you see the connection?
I think the OP said he got the paypal rep to admit on a recorded phone call it was because of bitcoin. I just don't think a lawsuit will be won because of some low level rep saying something like this, and some of other parts of the story seem like there's some holes in it. What I really meant before was that Paypal holds large sums of money from people for a variety of reasons all the time - and they've been doing this long before bitcoin even existed. It's built into their TOS.
IMHO anything "bitcoin" related is high risk to paypal right now, the OP sold a lot of equipment and then when on the phone, talked about bitcoin. It raised even more red flags I'm sure. A lot of people got ripped off selling coins through paypal, and paypal is just protecting it's interests and it's customers by holding money for a certain amount of time to ensure lower risk/chargebacks. Trust me I'm not pro-paypal, just experienced in the hassles of selling in a high risk industry. It's the standard which many of you know.
You can record what ever you want. You just won't be able to use it in a court of law in some jurisdictions, thus the suggestion to record all calls and create transcripts of the calls in those states where two party consent is required.
Does anyone know the BB code for making a paragraph? I have tried 3 times now to fix the post but when i save it it still comes out the same and the HTML p code wont work as i expected. Sorry again for the run on. Me and SMF are not getting along this morning.
Press Enter twice to leave a blank line.
Like this.
I wish you luck with the PayPal suit. I've always thought they had too big of a head and needed taken down a peg.
I'm not sure if I believe this story because you say your attorney was incredulous that you recorded a phone call. In most states, it is totally legal to record a call, as long as at least one party (you in this case) is aware it is being recorded.
If your attorney doesn't know that, he is a horribly attorney or else this story just isn't true.
If your attorney doesn't know that, he is a horribly attorney or else this story just isn't true.
I am not an attorney but have some law background. This is not the case. It depends where he lives.
"Twelve states require, under most circumstances, the consent of all parties to a conversation. Those jurisdictions are California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Montana, Nevada, New Hampshire, Pennsylvania, and Washington."
I'm not sure if I believe this story because you say your attorney was incredulous that you recorded a phone call. In most states, it is totally legal to record a call, as long as at least one party (you in this case) is aware it is being recorded.
If your attorney doesn't know that, he is a horribly attorney or else this story just isn't true.
If your attorney doesn't know that, he is a horribly attorney or else this story just isn't true.
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