I just wanna know who is that in your avatar op?
He's a Bitcoin user.
Topic: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why - page 13. (Read 28868 times)
April 06, 2013, 01:27:04 AM
He's a Bitcoin user.
April 05, 2013, 11:07:11 PM
Thanks for you info! Every newb should read this.
April 05, 2013, 10:43:14 PM
Guess the Bitcoin Bandwagon is not such an easy ride, but that's ok - I mainly want to see how well they work from a merchant's point of view, selling real goods.
April 05, 2013, 10:34:58 PM
Good to know. Thanks!
April 05, 2013, 08:38:41 PM
Found this really useful. Thanks, OP.
April 05, 2013, 08:21:52 PM
I just wanna know who is that in your avatar op?
April 05, 2013, 06:44:53 PM
maybe someone should develop a paypal2btc escrow service , paypal is to mainstream to leave behind
I don't think you understand the problem. An escrow does nothing unless the escrow is held past the point of risk. Traditional escrow funds are held until seller delivers. Since BTC is irreversible once seller delivers goods the escrow can be safely released. The point of no risk for PayPal transaction is 180 days.
So sure I just started the first BTC PayPal escrow. Pay me today and I will deliver your coins in 180 days. How many coins would you like to buy?
Exactly - when I trade, I just wait for the funds to be in hand as $ before i send coins. Sometimes it takes a few days but this is the only way to protect from chargeback. Would be nice if paypal had a sender 'I confirm transaction and waive chargebacks' button.
April 05, 2013, 06:34:36 PM
No point to this post
April 05, 2013, 04:27:27 PM
I'd like to add to this that European banking systems work differently and that money transfers can never be reversed at least in Dutch banks. Also, they allow buying other currencies. There are a few sites that allow you to buy BTC through iDeal (the Dutch way to transfer money) and there is no reason to label them a scammer.
I never liked Dutch banking policies not to refund money but I see their point now. Most they'll do is send the recipient a letter, asking them to return the money to the rightful owner. If that doesn't work, the only thing you can do is sue.
I never liked Dutch banking policies not to refund money but I see their point now. Most they'll do is send the recipient a letter, asking them to return the money to the rightful owner. If that doesn't work, the only thing you can do is sue.
April 05, 2013, 02:40:13 PM
Very infomative post! Thanks!
April 05, 2013, 01:53:01 PM
Well, unless you're buying from friends. I'm fortunate to live near lots of btc users, and multiple retail outlets which accept it.
April 05, 2013, 01:38:46 PM
I have already been scammed three times, but i will do everything i can so that does not happen again with bitcoins :S
3 times? oustide of the Bitcoin world?
I got scammed pretty HARD once... still pizzes me off thinking about it but its a hard earned lesson.
April 05, 2013, 01:05:19 PM
I have already been scammed three times, but i will do everything i can so that does not happen again with bitcoins :S
April 05, 2013, 10:17:15 AM
maybe someone should develop a paypal2btc escrow service , paypal is to mainstream to leave behind
I don't think you understand the problem. An escrow does nothing unless the escrow is held past the point of risk. Traditional escrow funds are held until seller delivers. Since BTC is irreversible once seller delivers goods the escrow can be safely released. The point of no risk for PayPal transaction is 180 days.
So sure I just started the first BTC PayPal escrow. Pay me today and I will deliver your coins in 180 days. How many coins would you like to buy?
April 05, 2013, 10:16:49 AM
So, are there any online services that can be set up fairly easily to send funds from Paypal, and then buy bitcoins?
Because you can't use PayPal to exchange currency, you cannot set it up with any exchange. The only place I know of which you can use PayPal is through VirWox.com -- there, you can buy Lindens, and then trade the Lindens for Bitcoin. It's a loop hole, but it works--to an extent. You can only trade 50 PPUSD at a time. All other exchanges require all your complete identity, IF you're dealing with USD. When trading between the altcoins, you may remain anonymous.
Thanks, work-arounds are what I'm looking for. I'm open to doing VirWox, but on the wiki it says in whole BTC values only and someone said the fees would be 25%. Is this still true? I cannot find such information on the Virwox site.
I only see:
Market Order Fee: USD/SLL 50 SLL 2.90%
Deposit Fee: a variable Paypal fee
Withdrawal Fee: A handling fee of 0.01 BTC per bitcoin withdrawal will be charged.
How legit would you say dealing with the sellers that have a positive rating on here(http://bcchanger.com/bitcoin-sell-orders) are?
April 05, 2013, 09:13:49 AM
The only way to get there... is the moment PayPal actually accepts Bitcoins and start putting their faith in it. Until PayPal itself likes it and backs it... I wouldn't try selling any bitcoins over paypal. As paypal prefers to agree with buyer, even thus chooses in their favor. Even though bitcoins are non-refundable and completely open. (an accountants wet dream)
Buying bitcoins with paypal... why not, if you have your bitcoin screw paypal.
Buying bitcoins with paypal... why not, if you have your bitcoin screw paypal.
April 05, 2013, 08:35:56 AM
maybe someone should develop a paypal2btc escrow service , paypal is to mainstream to leave behind
April 05, 2013, 08:07:13 AM
I HATE PayPal. They totally screwed me and locked my account due to a lying buyer. That said, there's something nice about being able to click and send money to someone. Too bad BTC hasn't caught on in the mainstream, yet!
April 05, 2013, 01:15:54 AM
So, are there any online services that can be set up fairly easily to send funds from Paypal, and then buy bitcoins?
Because you can't use PayPal to exchange currency, you cannot set it up with any exchange. The only place I know of which you can use PayPal is through VirWox.com -- there, you can buy Lindens, and then trade the Lindens for Bitcoin. It's a loop hole, but it works--to an extent. You can only trade 50 PPUSD at a time. All other exchanges require all your complete identity, IF you're dealing with USD. When trading between the altcoins, you may remain anonymous.
April 05, 2013, 01:07:01 AM
So, are there any online services that can be set up fairly easily to send funds from Paypal, and then buy bitcoins?
Jump to: