Buying Bitcoins With PayPal Site (Now Looking For BETA Testers)

Yankee (BitInstant)

legendary

Activity: 1078

Merit: 1000

Charlie 'Van Bitcoin' Shrem

Quote from: lemonginger on June 17, 2011, 08:14:42 PM

Quote from: Yankee (BitInstant) on June 16, 2011, 09:22:45 AM

Quote from: TheBitMan on June 16, 2011, 06:28:10 AM

I just bought a domain for my lottery and that didnt work out so that was a waste of money..,

Paypal is going to freeze your accounts, part of their TOS and Usage Agreements is that these type of accounts need to be PRE-APPROVED and their compliance team will not let you sell a currency other than USD or be a currency exchanger

BitInstant.com is currently in negotiations with Paypal to be the exclusive seller of BitCoins. Our developers are working with Paypal to secure a method that will abide by their TOS and reduce chargebacks and fraud.

We will keep everyone updated!

Good luck, but I doubt it is possible with bitcoin's current shaky legal status in the US as well as publicity. I don't think paypal will touch it with a 10 foot pole. I also don't think they are in the business of giving anyone exclusive rights to sell anything. If they allow sales, they will allow it for more than just you. But again, good luck, a quick way to get money in and out of exchanges is good for the bitcoin economy.

In normal occasions, yes this would be true. We are working with them to have a pre-approved account sing a method that abides by their TOS.
Thru my online retail sites I have being doing business with Paypal for over 8 years , I'm friends with some of their executive management as well.

The hardest part will be selling them that Bitcoin is not a competitor of paypal

TheBitMan

sr. member

Activity: 280

Merit: 250

Quote from: tito13kfm on June 17, 2011, 08:52:46 PM

Quote from: TheBitMan on June 17, 2011, 08:17:14 PM

Quote from: lemonginger on June 17, 2011, 08:14:42 PM

Quote from: Yankee (BitInstant) on June 16, 2011, 09:22:45 AM

Quote from: TheBitMan on June 16, 2011, 06:28:10 AM

I just bought a domain for my lottery and that didnt work out so that was a waste of money..,

Paypal is going to freeze your accounts, part of their TOS and Usage Agreements is that these type of accounts need to be PRE-APPROVED and their compliance team will not let you sell a currency other than USD or be a currency exchanger

BitInstant.com is currently in negotiations with Paypal to be the exclusive seller of BitCoins. Our developers are working with Paypal to secure a method that will abide by their TOS and reduce chargebacks and fraud.

We will keep everyone updated!

Good luck, but I doubt it is possible with bitcoin's current shaky legal status in the US as well as publicity. I don't think paypal will touch it with a 10 foot pole. I also don't think they are in the business of giving anyone exclusive rights to sell anything. If they allow sales, they will allow it for more than just you. But again, good luck, a quick way to get money in and out of exchanges is good for the bitcoin economy.

im going to use ebay

How does that solve anything? You are going to sell them via eBay, take a 9% loss because of fees, a 2+% loss to Paypal, and still have the transaction reversed..

I think the problem is, nobody has any idea what you are trying to accomplish. You want to sell bitcoins for paypal, yet you don't have any to sell so you ask for somebody to give you some. You then state you'll avoid the paypal problem by using eBay.

Your website states that you won't always received the exact amount you buy. You quote 2 different fees in 2 different spots on your site.

What on gods earth are you doing? You can't just throw up a website, accept money, and then try to figure it out as you go along. You need a solid business plan.

Your lottery was declared a failure earlier in this thread, and now you back to advertising it. Which one is it?

I rushed into a lot of sites because I was consumed by the addiction of Bitcoin... I will delete all my sites but the lottery one because I am currently BETA testing it

tito13kfm

newbie

Activity: 42

Merit: 0

Quote from: TheBitMan on June 17, 2011, 08:17:14 PM

Quote from: lemonginger on June 17, 2011, 08:14:42 PM

Quote from: Yankee (BitInstant) on June 16, 2011, 09:22:45 AM

Quote from: TheBitMan on June 16, 2011, 06:28:10 AM

I just bought a domain for my lottery and that didnt work out so that was a waste of money..,

Paypal is going to freeze your accounts, part of their TOS and Usage Agreements is that these type of accounts need to be PRE-APPROVED and their compliance team will not let you sell a currency other than USD or be a currency exchanger

BitInstant.com is currently in negotiations with Paypal to be the exclusive seller of BitCoins. Our developers are working with Paypal to secure a method that will abide by their TOS and reduce chargebacks and fraud.

We will keep everyone updated!

Good luck, but I doubt it is possible with bitcoin's current shaky legal status in the US as well as publicity. I don't think paypal will touch it with a 10 foot pole. I also don't think they are in the business of giving anyone exclusive rights to sell anything. If they allow sales, they will allow it for more than just you. But again, good luck, a quick way to get money in and out of exchanges is good for the bitcoin economy.

im going to use ebay

How does that solve anything? You are going to sell them via eBay, take a 9% loss because of fees, a 2+% loss to Paypal, and still have the transaction reversed..

I think the problem is, nobody has any idea what you are trying to accomplish. You want to sell bitcoins for paypal, yet you don't have any to sell so you ask for somebody to give you some. You then state you'll avoid the paypal problem by using eBay.

Your website states that you won't always received the exact amount you buy. You quote 2 different fees in 2 different spots on your site.

What on gods earth are you doing? You can't just throw up a website, accept money, and then try to figure it out as you go along. You need a solid business plan.

Your lottery was declared a failure earlier in this thread, and now you back to advertising it. Which one is it?

TheBitMan

sr. member

Activity: 280

Merit: 250

Quote from: lemonginger on June 17, 2011, 08:14:42 PM

Quote from: Yankee (BitInstant) on June 16, 2011, 09:22:45 AM

Quote from: TheBitMan on June 16, 2011, 06:28:10 AM

I just bought a domain for my lottery and that didnt work out so that was a waste of money..,

Paypal is going to freeze your accounts, part of their TOS and Usage Agreements is that these type of accounts need to be PRE-APPROVED and their compliance team will not let you sell a currency other than USD or be a currency exchanger

BitInstant.com is currently in negotiations with Paypal to be the exclusive seller of BitCoins. Our developers are working with Paypal to secure a method that will abide by their TOS and reduce chargebacks and fraud.

We will keep everyone updated!

Good luck, but I doubt it is possible with bitcoin's current shaky legal status in the US as well as publicity. I don't think paypal will touch it with a 10 foot pole. I also don't think they are in the business of giving anyone exclusive rights to sell anything. If they allow sales, they will allow it for more than just you. But again, good luck, a quick way to get money in and out of exchanges is good for the bitcoin economy.

im going to use ebay

lemonginger

full member

Activity: 210

Merit: 100

firstbits: 121vnq

Quote from: Yankee (BitInstant) on June 16, 2011, 09:22:45 AM

Quote from: TheBitMan on June 16, 2011, 06:28:10 AM

I just bought a domain for my lottery and that didnt work out so that was a waste of money..,

Paypal is going to freeze your accounts, part of their TOS and Usage Agreements is that these type of accounts need to be PRE-APPROVED and their compliance team will not let you sell a currency other than USD or be a currency exchanger

BitInstant.com is currently in negotiations with Paypal to be the exclusive seller of BitCoins. Our developers are working with Paypal to secure a method that will abide by their TOS and reduce chargebacks and fraud.

We will keep everyone updated!

Good luck, but I doubt it is possible with bitcoin's current shaky legal status in the US as well as publicity. I don't think paypal will touch it with a 10 foot pole. I also don't think they are in the business of giving anyone exclusive rights to sell anything. If they allow sales, they will allow it for more than just you. But again, good luck, a quick way to get money in and out of exchanges is good for the bitcoin economy.

Yankee (BitInstant)

legendary

Activity: 1078

Merit: 1000

Charlie 'Van Bitcoin' Shrem

Quote from: TheBitMan on June 16, 2011, 06:28:10 AM

I just bought a domain for my lottery and that didnt work out so that was a waste of money..,

Paypal is going to freeze your accounts, part of their TOS and Usage Agreements is that these type of accounts need to be PRE-APPROVED and their compliance team will not let you sell a currency other than USD or be a currency exchanger

BitInstant.com is currently in negotiations with Paypal to be the exclusive seller of BitCoins. Our developers are working with Paypal to secure a method that will abide by their TOS and reduce chargebacks and fraud.

We will keep everyone updated!

TheBitMan

sr. member

Activity: 280

Merit: 250

Quote from: jerfelix on June 16, 2011, 07:11:31 AM

Please please please read the threads about CoinPal, and how he had so much fraud, and how he got shut down.

If you want to automate buying bitcoins with paypal, you should probably focus on automating the thing that people are doing successfully - buying bitcoins on eBay. People are doing that now, presumably with some success. Focus on helping people sell via eBay (with a quick setup of an auction, along with some "physical good" that can be shipped so there's no dispute).

You will get slaughtered by fraud if you try to sell via Paypal. Don't do it.

I made one called bitcoinseller but i need bitcoins and no one wants to part with them!

jerfelix

sr. member

Activity: 266

Merit: 250

Please please please read the threads about CoinPal, and how he had so much fraud, and how he got shut down.

If you want to automate buying bitcoins with paypal, you should probably focus on automating the thing that people are doing successfully - buying bitcoins on eBay. People are doing that now, presumably with some success. Focus on helping people sell via eBay (with a quick setup of an auction, along with some "physical good" that can be shipped so there's no dispute).

You will get slaughtered by fraud if you try to sell via Paypal. Don't do it.

TheBitMan

sr. member

Activity: 280

Merit: 250

I just bought a domain for my lottery and that didnt work out so that was a waste of money..,

lemonginger

full member

Activity: 210

Merit: 100

firstbits: 121vnq

you should probably at least think about registering a domain or something

JellyfishRancher

newbie

Activity: 28

Merit: 0

This is really not a good idea. Haven't you seen all the threads about paypal scams the past two weeks? Not to mention the fact that you don't have a real domain.

TheBitMan

sr. member

Activity: 280

Merit: 250

Quote from: AnonymousBat on June 15, 2011, 09:11:21 PM

Quote from: TheBitMan on June 15, 2011, 07:37:06 PM

Quote from: virtualfaqs on June 15, 2011, 07:32:18 PM

Actually I'll be selling with PayPal soon. What's your procedure for stopping fraud?

When the money is in my account..I send them the coins..

And then they tell paypal they never got their coins and paypal reverses the transaction.

Then what.

The whole site is a risk for me my paypal can get shut down but people buy bitcoins with bank accounts so there is always a problem

AnonymousBat

member

Activity: 111

Merit: 10

Quote from: TheBitMan on June 15, 2011, 07:37:06 PM

Quote from: virtualfaqs on June 15, 2011, 07:32:18 PM

Actually I'll be selling with PayPal soon. What's your procedure for stopping fraud?

When the money is in my account..I send them the coins..

And then they tell paypal they never got their coins and paypal reverses the transaction.

Then what.

nazgulnarsil

sr. member

Activity: 672

Merit: 258

https://cryptassist.io

anyone with a paypal account should close it today.

paypal has the ability to freeze bank accounts linked to them AT WILL.

TheBitMan

sr. member

Activity: 280

Merit: 250

Quote from: virtualfaqs on June 15, 2011, 07:32:18 PM

Actually I'll be selling with PayPal soon. What's your procedure for stopping fraud?

When the money is in my account..I send them the coins..

virtualfaqs

hero member

Activity: 700

Merit: 500

Actually I'll be selling with PayPal soon. What's your procedure for stopping fraud?

TheBitMan

sr. member

Activity: 280

Merit: 250

Quote from: phenom on June 15, 2011, 07:10:59 PM

It's already been done many times before. Learn from coinpal.

Other than him there arent any others

phenom

newbie

Activity: 35

Merit: 0

It's already been done many times before. Learn from coinpal.

TheBitMan

sr. member

Activity: 280

Merit: 250

Quote from: virtualfaqs on June 15, 2011, 06:10:46 PM

Why do I have to register to see how it works? Ok so how does it work?

my bad for some reason I wanted to keep it locked so PayPal didn't get all mad or suspicious that page is now open to everyone and I try to use BTC instead of bitcoins because of PayPal being PayPal

virtualfaqs

hero member

Activity: 700

Merit: 500

Why do I have to register to see how it works? Ok so how does it work?

Topic: Buying Bitcoins With PayPal Site (Now Looking For BETA Testers) (Read 2620 times)