Topic: CoinGator - page 4. (Read 20367 times)

Here is a little tidbit from https://new.bitinstant.com/whatwedo:

"BitInstant acts as an agent of its partners in all states in which its partners hold a current money transmitter license. In the limited states where BitInstant's partners do not currently have a required money transmitter license, BitInstant will not act as an agent of it's partners and may rely upon other payment methods to legally fulfill Bitcoin purchase orders."

In other words, they aren't MSB's either.  They are relying on the MSB licenses of Moneygram (via ZipZap) and PayPal.  By that logic, since PayPal is licensed, your business should be fine.  My guess is that BitInstant has better lawyers than CoinGator (and most other fledgling Bitcoin enterprises) so you may want to at least field this argument with a lawyer.

Yea, the US has built up a pretty nice scam for themselves. They get to keep mom'n'pop shops down, and only allow the people with the most to lose to operate (so that they are nice and complacent). Like I said though, Paypal themselves solved that one by incorporating in Singapore and not serving Singaporean citizens. There are always ways around it, but using Paypal as a way to buy bitcoins is the problem, not the MSB licensing imo. At least now I don't need to bump this thread with timers.

Good luck on any other endeavors here in the community, you might be surprised to see even me supporting a few of them if they have sound business models that don't require trust etc.

Oh well if that's all you're worried about, use a different country's paypal. That's not the least of the problems though.

Did Paypal close your account already? Jesus christ that was fast.

Thank you very much for your reply

hmm...alrighty well...how about the state of Washington? Yay or Nay?

*Knock Knock Knock*

CoinGater

*Knock Knock Knock*

CoinGater

*Knock Knock Knock*

CoinGater

...any chances of opening back up before the weekend? ty ty!

Ruh roh.. CoinGator, what state is your paypal account's address attached to?

Thank you. And we appreciate your business!

Any expectations of being back up before the weekend?

I love it, its safe and fast. I used it 3 times /for now

i love the internet 

That post wasn't intended to solicit a response from you, but since you took it upon yourself to respond as self-appointed FUD slinger, I thought I would reply.  Enjoy .

I don't know you at all.  Based upon your ignorance, general demeanor, and refusal to consider facts that directly contradict many of your statements, I have absolutely no desire to get to know you either.  In fact I can't imagine that anyone would want to know you.

Nobody said anything about creating a fraudulent account.  More ignorance, incorrect assumptions, and lies.

You obviously haven't tried it, it worked as recently as last week with a card from Advance America (issued by Netspend).

Actually, why don't you see above.  Works just fine, at least with the Advance America cards which are Netspend issued.

See above.  Nothing I have said has anything to do with creating a fraudulent account, you just happen to have fraud on your mind 24/7 apparently.  No one is trying to convince you of anything, as you quite clearly live in your own impenetrable alternate reality.

It is not only possible, but quite easy to keep PayPal at arm's length (see my original post) if you have a modicum of intelligence.  Since you find it so difficult, perhaps you don't meet this requirement.

The minimum is $1.00 USD. Thank you.

So basically your job in this thread is to spread FUD and hope people get tired of repeating the truth. You must not know me very well. Responded to your list for you.

Right, last time I signed up for Paypal, it asked me for my IP only and had no idea what my name, address, phone number, etc was.

You're actually recommending people make a fraudulent account that cannot be verified and risk losing *all* their money. Why would anyone take any advice from you after that point?

This used to work back in 2009 and is thus plastered all over hacker forums as the "scammer solution" (which is probably where you found it). Paypal has actually partnered with NETSPEND since then, and here is what Paypal has to say about using NETSPEND to verify your accounts:

See above.

Your advice is literally misleading people to create fraudulent accounts and you're here to try and convince me that something isn't a scam. Why don't you stop spreading FUD and just wait like the rest of us for the clock to tick down so we can all see if CoinGator is a scam or not instead of professing that they aren't and misleading people into thinking they can ever, ever be protected from Paypal (the company takes money from bank accounts without permission on a regular basis).

For anyone truly concerned about PayPal chargebacks with a system like this, it's relatively simple to avoid.  

1) Create a new PayPal account you use only for interaction with this or any other PayPal-based service you consider to be high risk.  For the truly paranoid, create a virtual machine (I use VMWare) that is only used for accessing this account, and install AOL desktop on that virtual machine.  When you start AOL desktop, the virtual machine will access the internet over your existing connection, but will have an AOL IP address that has nothing to do with your normal IP.  You can even verify that you have an AOL IP by going to http://whatismyipaddress.com .  This makes it impossible for PayPal to tie the account to any other account, regardless of any tracking mechanisms they may use.

2) Buy a reloadable debit card (I prefer netspend).  These come with a virtual checking account - a routing number and checking account number you can use for direct deposit and for paypal transfers.  But, they are only one way - PP can't ever debit these virtual accounts.

3) Verify the virtual checking account with PP, and register the card itself as a credit card on that PP account.

4) When you have money come in, transfer it to your virtual "checking account".  This adds to your card's balance, and then you can take the money off the card via ATM when the money hits.

PP will have no way to clawback the money, even if the transactions go bad.  Though the numerous jailhouse lawyers in here will dispute it, there is nothing illegal about this.  Keeping PayPal at arms length is always a good idea, no matter what you are doing with them.

Now, at about this point, all of the many legal scholars in here will say "but they could sue!".  First, PayPal may very well refuse to process requested chargebacks for a company that all of a sudden tries to dispute every transaction they have conducted months after the fact.  People Like Matthew N. Right don't really get that PayPal is run by people that see this type of behavior every day.  If this happened, the chargebacks would almost certainly be denied and the company referred to law enforcement for attempting to defraud both Paypal and their recipients.  Second, on the off-chance that PP let these abusive chargebacks through, lawyers - the ones with actual degrees (not to be confused with those posting in this thread) - cost $400/hr+. Because of the cost and the potential that rulings in such lawsuits can set precedents that invalidate parts of their user agreement that could cost them millions, Paypal rarely sues over funds owed from transactions that they allowed to be reversed.  Unless the case is a slam-dunk for them and both the amount owed and the resources of the potential defendant were great enough to offset the litigation cost, they won't engage.  On the rare occasions that they have sued, with perhaps one or two exceptions involving very large amounts of money, they have sued the business involved and not the end user.  You have a vastly better chance of being hit by lightning than suffering a loss from a PP transaction where you followed through on your end of the deal if you use the above steps.

Pedantic arguments aside, if you aren't stupid, dealing with this or any other service can be as close to risk-free as dealing with anyone in the real world allows.

You wouldn't know it's a scam until the timer has run down.

Look up "long con" for more answers to your hypothetical excuses.


I'm not sure if English is your first language or not, but I've never said they were a scam nor did I say they were scammers. I gave them opportunities to explain and learn, they've taken that opportunity to spam their broken business model popular among scammers instead. You can draw whatever conclusion you want, my conclusions so far have only been based on fact. Instead of clogging up the thread with your own misconceptions, go back and read the thread again because I feel like I'll only be repeating myself again and again.

This is what we're doing and thank you for an intelligent post.

HAHAHAHAHA...I see what you did there You should go to that one btc betting site and start a wager saying CoinGater will take my $12 in 175 days... ...so I can go bet against ya and make another $12 Or be proven wrong...who knows...either way trolling a thread isn't going to scare people away from a service...it is actually what made me use their service just so I could post a note saying "SEE!". So I'll go ahead and take my $12 to IHop and have myself a nice meal and you can continue to troll other satisfied customers and we'll see what we see in 175 days

edit: aww...you changed part of your message so I have to as well. I've seen PLENTY of scams in my time on this board...and all of them were pretty easy to spot right away. This one...doesn't seem like a scam to me so I tried it and what do ya know...so far so good. But I'm trying to figure out why you are so adamantly saying its a scam without showing any other proof other than "check the forums"...? Leave em alone or show proof...simple simple no?

If you're looking for examples, use the forum's search function. If you're looking for examples specific to this fresh-out-of-newbie-jail account, come back in

Timer removed. End time: 2013-11-23+7:09:59