Topic: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why - page 10. (Read 28868 times)

exactly. bt seems to be a nice supplement. it isn't a total replacement.

that is how i bought my first btc, but the date was in may 2011. now there are better ways.

The way I understand things is this: no matter what it is you fool with there is always pros and cons. This is good for some things while at the same time being bad for others...basically you roll the dice, and you take your chances.

It's a shame there isn't a workaround to make paypal-bitcoin transactions safe. I get paid dollars into paypal, and converting into my local currency (GBP) to buy BTC via bank transfer seems very inefficient.

Hi everyone, what about Skrill? Isn't used for the same reasons?
I tried to found some valid site for buying with Skrill but i sucked

I was thinking about PayPal and Bitcoin this morning, actually. With Bitcoin becoming very large, and PayPal being a business, I imagined them maybe wanting to somehow support or offer Bitcoins (down the road.)

Regardless of why they are super-against this idea currently (which I can understand), I thought of one main point. If they were to keep the same model they currently use for currency exchanges and transactions, specifically the FEES they impose, they would be at a HUGE competitive disadvantage in the world of Bitcoin. If I can already go to MtGox and transfer USD/BTC without fees, why would I want to go to PayPal and shave them off part of the transaction as a fee?

I am admittedly new and haven't yet converted any BTC to USD, but what are your thoughts on this? Even if it's theoretical.

i think it also depends on what your buying selling as to the scam likly hood
bought a tablet pc no problem bought some magic cards never showed up

i do a lot of online shopping for items for people wo have mobility or learning difficulties

In my case Paypal is quite important, as in our country we dont have many choices of other type of online payment.
There are risk involve, but since 7years of selling services I only encounter 2-3 problems with Paypal, anyhow I believe when it comes to tangible item, or even bitcoin purchase, Paypal posesss mich greater risk.

Paypal...

It's only good for ebay, and rarely nothing else... (like bitcoins)

So we would be the sellers - and we're quite honest

As for people that pass all the checks - we will send them the BTC, and we are currently working on algorithms to prevent them from denying having ever received the funds

No way I was scammed as a buyer also. Be careful.

If I understand correctly, the risk, in contrast to eg. paypal, is completely for the sender/customer (hoping he will receive what he paid for) than for the receiver/seller (who will have his bitcoins guaranteed and non-revocable)?

creating an invoice should help because pp would consider this as a commercial or business transaction, but personal transactions is another different case... is 45 days to file dispute and better to have proof and evidence. is best not to do a personal transaction where you get limited protection...

Haven't read through the entire thread, but can someone shed some light on whether or not this is true?

- Create Invoice via Paypal to send to customer
- Invoice has terms and conditions, such as non-refundable under no circumstances
- Have customer send an email to confirm they agree to terms
- Customer pays Invoice

I had to file a claim with Paypal few months ago over a dodgy Ebay seller who gave me a "new" piece of furniture. The furniture had scratches and cracks in it. It actually was a major effort for me to get Paypal to have me win the case, because I had to provide proof etc etc.

I suppose it's different when it's not a physical item, however I wonder if Paypal will accept the above steps?

Do people use Dwolla?

Got verified and waiting for funds to complete transferring.

Great info right here. cheers

Beautiful idea

I hope you succeed

you succeed and may be you are on the way to become the next bitcoin millionaire

I'm a newbie , a honest newbie, I've been watching the market for 10 ...15 days, coudn't buy my first bitcoin, because the process is so cumbersome at the moment

IF ..only IF easier options existed I could have benefited, the seller could have benefited the exchange / exchanger could have benefited

I've posted similar thoughts here
https://bitcointalksearch.org/topic/m.1789683


regards

When it comes to Paypal, there are only two freaks of nature you can trust !

ONE :- ME !
TWO :- EBAY

How are you going to deal with dishonest sellers?
How are you going to satisfy people who will pass your checks, ID, text, CC2, STD check that they will really receive what they paid for?

Posted elsewhere, but probably more appropriate in this thread:



As we all know/read CC => BTC is about as tricky a business as any.

Scammers are rampant and chargeback folk are just as nasty.

However, as with anything new...something needs to give.  My buddies and I are looking to try something similar to this, so I thought it might be a good idea to see what ideas everyone here might have regarding security and identification.

So I've classified the "enemy" into two categories:

1) Stolen CC's

2) Chargeback people (dishonest folk)

I'll try to map out some security measures to address each of these, and hopefully you guys can add more.  It'd be nice to help legitimate people exchange CC => BTC.

1)

Stolen CC's. 

We will be utilizing:

CVV2 Authentication
Address Verification

We will also utilize a 2-factor authentication (Authy) which texts their cell phone.
Finally, as Mt.Gox and other exchanges require (for verification), we may require a photo ID (picture taken and sent in)





2)

Chargeback folk that deny ever receiving the funds.

The best that we can do here is to utilize blockchain.info to prove that the transaction took place and that the BTC was indeed transferred.

We will also document our actions for transfer to make sure we are transferring to their provided wallet (after all CC approval checks out).


Any other ideas/suggestions would be very welcome!

Thanks!

Hopefully the vast majority of us honest folk would benefit from something like this (see BitInstant hating over on the next thread).