Hi,
Is there anywhere particularly good or useful that I can read the basics of what is going on? I just paid for 12 Bitcoins from CoinPal and my Bitcoin address had mysteriously changed again, with my coins being sent to my old address...are they lost to the void now and have I lost my money? Why would the address change if there were no transactions taking place? Or do they do it randomly when generating coins as well? Sorry having some probably quite simple and silly complications here.
Thanks.
Topic: CoinPal beta - Buying bitcoins with PayPal - page 13. (Read 170520 times)
@mndrix : How come I cant sell more than 82 BTC in your site mate ? it always display "insufficient fund in your account... blah blah"
He doesn't have enough $$ on his PayPal balance. Check back in a day or so and he'll probably have it.Thx mate
@mndrix : How come I cant sell more than 82 BTC in your site mate ? it always display "insufficient fund in your account... blah blah"
He doesn't have enough $$ on his PayPal balance. Check back in a day or so and he'll probably have it.
@mndrix : How come I cant sell more than 82 BTC in your site mate ? it always display "insufficient fund in your account... blah blah"
Okey dokey. Well I meant that Bitcoin thing on my computer. It turns out I've been selected for a manual review by CoinPal. Thanks for the prompt reply though, this is all new territory for me, all this talk of blocks makes me think of Tetris...definitely need to do a little more research on all this.
Hi there,
Forgive me ignorance as I'm new to the world of Bitcoin and CoinPal, but I have very recently purchased 12 Bitcoins, and was wondering how long it takes for them to appear in my Bitcoin account? Or have I missed something, it's definitely possible.
Thanks.
Forgive me ignorance as I'm new to the world of Bitcoin and CoinPal, but I have very recently purchased 12 Bitcoins, and was wondering how long it takes for them to appear in my Bitcoin account? Or have I missed something, it's definitely possible.
Thanks.
There is no bitcoin account. Anyway, it takes about 10 minutes for a transaction to be confirmed.
IF there's no bitcoin that appears in your client, you probably didn't complete the download of blocks.
Hi there,
Forgive me ignorance as I'm new to the world of Bitcoin and CoinPal, but I have very recently purchased 12 Bitcoins, and was wondering how long it takes for them to appear in my Bitcoin account? Or have I missed something, it's definitely possible.
Thanks.
Forgive me ignorance as I'm new to the world of Bitcoin and CoinPal, but I have very recently purchased 12 Bitcoins, and was wondering how long it takes for them to appear in my Bitcoin account? Or have I missed something, it's definitely possible.
Thanks.
ooo interesting, mndrix. 
PayPal has placed a 5% reserve requirement on my account. For each PayPal payment I receive, they hold 5% of the payment for 90 days. This is a standard precaution for sellers of high-risk goods. I'm a little surprised they didn't institute the requirement immediately after my initial discussions with them. It reflects no dissatisfaction on PayPal's behalf. They're just being cautious. However, it is one more reason I'd love to see Bitcoin succeed
In the long-run, the reserve requirement shouldn't affect anyone but me. It only translates to a $500 higher reserve than I had calculated for my own personal risk threshold.
In the long-run, the reserve requirement shouldn't affect anyone but me. It only translates to a $500 higher reserve than I had calculated for my own personal risk threshold.
- Bigger fees for first-time buyers
- Consider everyone a scammer until proven otherwise!
These are a bit problematic for a service supposed to be an easy entry point for newcomers.- Consider everyone a scammer until proven otherwise!
The donation address dacoinminster presented is correct.
I don't mean to imply dacoinminster is untrustworthy, but it's good practice to quote such things for preservation.
CoinPal is open to the public again. The donation address dacoinminster presented is correct. I've put it in my signature in case others are inclined that way.
The only publicly visible change is that new customers can purchase only 20 BTC their first week. After the first week, it goes up to 40 BTC. After that, the old purchase limits apply.
The only publicly visible change is that new customers can purchase only 20 BTC their first week. After the first week, it goes up to 40 BTC. After that, the old purchase limits apply.
Being able to quickly and easily buy bitcoins is essential to their success, but the seller in such an enterprise is a HUGE fraud magnet.
Here's some other ideas:
- Transfer the coins in installments, i.e. 10% of your order per hour
- Bigger fees for first-time buyers
- Add donation addresses to your forum post signatures and web pages so we can help support this essential service
- Consider everyone a scammer until proven otherwise!
On Jan 7th, after some prodding by email, mndrix gave me this donation address, which I assume is still valid: 15VmbbyvpZQk7P4Vs7EvzYrGbtKTnW1f27
Obviously don't send anything there until he confirms it.
Here's some other ideas:
- Transfer the coins in installments, i.e. 10% of your order per hour
- Bigger fees for first-time buyers
- Add donation addresses to your forum post signatures and web pages so we can help support this essential service
- Consider everyone a scammer until proven otherwise!
On Jan 7th, after some prodding by email, mndrix gave me this donation address, which I assume is still valid: 15VmbbyvpZQk7P4Vs7EvzYrGbtKTnW1f27
Obviously don't send anything there until he confirms it.
CoinPal is open again for trusted customers. If you bought Bitcoins from the site more than 7 days ago, you fall into that category. Of course, beta testers and those with OTC ratings are trusted as well. I'm still planning to reopen to the public later today.
Thank you all for the suggestions and comments. I agree that near-instant Bitcoin sales help the community. I'm not sure I'd be working on Bitcoin if the old Bitcoin Gateway hadn't been open the night I read Satoshi's paper. I'll do what I can to keep the site open.
The current plan is to reduce the purchase limit for first-time buyers back to approximately $20 (essentially what mewantsbitcoins suggested). That was the limit when I started, but Bitcoin appreciation has pushed it closer to $40 recently. I'll also be changing the purchase limits for returning customers based on the chargebacks I've seen. There will also be some behind-the-scenes changes which I can't describe in detail.
error, PayPal does report chargebacks through their API. I'll keep the 1 hour window in mind. Thanks.
I also plan to enhance integration with the #bitcoin-otc web of trust, for those who want to participate. I think the WOT makes many exciting Bitcoin projects possible. If it were strong already, my work at CoinPal would be much easier
The current plan is to reduce the purchase limit for first-time buyers back to approximately $20 (essentially what mewantsbitcoins suggested). That was the limit when I started, but Bitcoin appreciation has pushed it closer to $40 recently. I'll also be changing the purchase limits for returning customers based on the chargebacks I've seen. There will also be some behind-the-scenes changes which I can't describe in detail.
error, PayPal does report chargebacks through their API. I'll keep the 1 hour window in mind. Thanks.
I also plan to enhance integration with the #bitcoin-otc web of trust, for those who want to participate. I think the WOT makes many exciting Bitcoin projects possible. If it were strong already, my work at CoinPal would be much easier
Last time I checked, most of PayPal's internal fraud detection took place within the hour after the transaction. And while they send an email in the case of such a suspicious transaction, I don't recall whether anything comes across the API. In any case, if it came down to it, I'd be willing to wait an hour versus not having the service at all.
yes, just checked. my mistake.
maybe it should be 40/2 weeks then
maybe it should be 40/2 weeks then
Isn't the limit already 40 BTC per week, not per day?
mndrix, in my opinion your service is vital to the expansion of this community. I recently come back to Bitcoins after about a year out of touch and only stayed here because I was able to purchase some Bitcoins via CoinPal. I am sure morpheus' service is a viable option, but instantanious transactions is what today's public is expecting
One idea I had was - you could limit number of transactions/time period. I know you already have 40/a day, but I think it should be more restrictive. The amount could stay the same but lets say you only do 40/week/person. This would limit the damage in case of fraud while still allowing legit users to get their initial 40 Bitcoins and participate in the community, playing bitlotto or whatever. With time restriction could be lifted
One idea I had was - you could limit number of transactions/time period. I know you already have 40/a day, but I think it should be more restrictive. The amount could stay the same but lets say you only do 40/week/person. This would limit the damage in case of fraud while still allowing legit users to get their initial 40 Bitcoins and participate in the community, playing bitlotto or whatever. With time restriction could be lifted
I wasn't able to finish all the changes today. I'll try and reopen the site for trusted buyers (those with a purchase limit over 40 BTC per week) tomorrow morning. Until then, I can vouch for morpheus' service. I've purchased from him before with excellent results.
Anyone still looking to buy bitcoin with Paypal while mndrix's service is down can use my service: http://bitcoinmorpheus.tumblr.com/
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