Just wondering about escrow | Bitcointalksearch.org

Rmcdermott927

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Quote from: RoughLyfe on June 17, 2015, 05:10:49 PM

I know what escrow is,but how would you use escrow on paypal for bitcoin since the buyer could charge back

I guess the only useful way would be for the escrow to hold the funds beyond the paypal chargeback period(which is insanely long). That is why PP and BTC don't mix very well.

jaberwock

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Even (formerly) trusted escrows might scam when trading btc for paypal(ex: Maidak, you'll see two topics about him in the scam accusation section).

Only do paypal-btc with few trusted members, and in small quantities.

Twipple

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Quote from: The Young Turk on June 18, 2015, 04:39:18 PM

Quote from: Twipple on June 18, 2015, 04:08:37 PM

For those mentioning 180 days ,thats the case only if the payment is issued from a credit card. But if you have cash balance which you might have received from another user, then its only a period of 45 days to allow for a charge back. But I don't know if paypal mentions at the time of a transaction if its 45 or 180 days.

It's not only credit cards it's for all payment types.
https://www.paypal.com/au/webapps/mpp/ua/useragreement-full

Seems they have changed the conditions then. I haven't used paypal in a while ,but I do remember it was 45 days for some of the transactions before.

The Young Turk

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Quote from: Twipple on June 18, 2015, 04:08:37 PM

For those mentioning 180 days ,thats the case only if the payment is issued from a credit card. But if you have cash balance which you might have received from another user, then its only a period of 45 days to allow for a charge back. But I don't know if paypal mentions at the time of a transaction if its 45 or 180 days.

It's not only credit cards it's for all payment types.
https://www.paypal.com/au/webapps/mpp/ua/useragreement-full

Sythyn

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A Digital Universe with Endless Possibilities.

Escrow is used for trade in Bitcoin it's really important: https://en.wikipedia.org/wiki/Escrow

https://bitcointalksearch.org/topic/official-safe-trading-thread-scammersrulesescrowtrusted-users-lists-208203

Twipple

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For those mentioning 180 days ,thats the case only if the payment is issued from a credit card. But if you have cash balance which you might have received from another user, then its only a period of 45 days to allow for a charge back. But I don't know if paypal mentions at the time of a transaction if its 45 or 180 days.

SaktoWuN

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Quote from: Mikestang on June 17, 2015, 05:17:45 PM

You don't use escrow for paypal.

I wouldnt use paypal at all for the matter

The Young Turk

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If escrow is trusted then should hold funds for 180 days (which is paypal's max refund date for sender).
6 months is really long time to make paypal-bitcoin exchanges.

bitllionaire

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Paypal is not recommended at all when you use bitcoin, you are always in risk using paypal

sgk

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Quote from: RoughLyfe on June 17, 2015, 05:10:49 PM

I know what escrow is,but how would you use escrow on paypal for bitcoin since the buyer could charge back

Since you can chargeback for 180 days with PayPal, it is not feasible to use escrow, unless the escrow is assumed to release the funds after 180 days.
That's why you'll see many unentertained/failed offers on this forum to buy BTC with PayPal. Nobody wants to use PayPal.

jeannemadrigal2

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I think the best thing is to not use paypal unless it is with someone you know personally like a brother or cousin. It is too easy to scam with paypal so just be safe with it.

twister

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You actually answered your own question yourself, since the buyer can chargeback upto 180 days an escrow is not really useful in this sort of trade, if you do employ one the best S/He can do is hold on to BTC until you confirm that you have received the funds in your Paypal account and then he'd have to release the funds to the buyer.

There's no protection when you're dealing with paypal which is why it should be avoided.

goosoodude

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Well, theoretically speaking you could use escrow but there's not much of a point to it. You'd mostly have to rely trusting the trader you're dealing with. Maybe even split the transaction in parts to minimize risk since you'll probably be asked to go first.

RoughLyfe

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Quote from: Mikestang on June 17, 2015, 05:17:45 PM

You don't use escrow for paypal.

Oh,thanks for the clarification

Mikestang

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You don't use escrow for paypal.

RoughLyfe

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I know what escrow is,but how would you use escrow on paypal for bitcoin since the buyer could charge back

Topic: Just wondering about escrow (Read 1215 times)