They have screwed me in the past
this post is great, very helpful for avoiding getting scammed
Thanks!
Topic: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why - page 14. (Read 28868 times)
April 04, 2013, 11:22:45 PM
oh I do loath paypal
They have screwed me in the past
this post is great, very helpful for avoiding getting scammed
Thanks!
They have screwed me in the past
this post is great, very helpful for avoiding getting scammed
Thanks!
April 04, 2013, 10:36:05 PM
haha screw paypal 
April 04, 2013, 10:14:06 PM
Speaking of scams...
If any of you are aware of Kijiji or Craigslist, this may interest you.
Recently, with the deluge of ASIC's hitting the btc mining market, many GPU miners have been selling their old GPU's as they either upgrade to ASIC or get out of the mining business altogether.
Whereas this action in itself it legit, the following is not: Seller on Kijiji offered a HD Radeon 6990 for $200. When an offer was emailed to them, the reply came back with, "I think 1.5btc will be enough to cover this and shipping".. (included a payment address).
When asked about using Paypal to secure payment of the product instead of btc, 1 person replied, "no, only btc and pay now or the card goes to others" and the next replied nothing at all.
I posit that any coins sent to the address would have been lost to me without a product in-hand.
Be wary of btc's in the murky depths of the web.
If any of you are aware of Kijiji or Craigslist, this may interest you.
Recently, with the deluge of ASIC's hitting the btc mining market, many GPU miners have been selling their old GPU's as they either upgrade to ASIC or get out of the mining business altogether.
Whereas this action in itself it legit, the following is not: Seller on Kijiji offered a HD Radeon 6990 for $200. When an offer was emailed to them, the reply came back with, "I think 1.5btc will be enough to cover this and shipping".. (included a payment address).
When asked about using Paypal to secure payment of the product instead of btc, 1 person replied, "no, only btc and pay now or the card goes to others" and the next replied nothing at all.
I posit that any coins sent to the address would have been lost to me without a product in-hand.
Be wary of btc's in the murky depths of the web.
April 04, 2013, 09:25:15 PM
what about buying bitcoins on eBay and paying with PP?
Buying isn't really the problem, because paypal will usually favor the buyer in a dispute. So if you get your coins, you're good. As a side note, I bought my first bitcoin over eBay as a Casascius coin. Think I only paid like $25 for it, too.
April 04, 2013, 06:42:06 PM
what about buying bitcoins on eBay and paying with PP?
I have done that but only in small qtys... .01, .1 and .25
so far, so good.
April 04, 2013, 05:53:06 PM
The only legitimate way I've found to transfer back to USD is though big exchanges like BitFloor.
April 04, 2013, 03:31:51 PM
what about buying bitcoins on eBay and paying with PP?
April 04, 2013, 01:57:49 PM
So what makes Paypal any different from Dwolla or Stripe?
April 04, 2013, 01:36:49 PM
Paypal is such a ripoff. Blow up the datacenters!
I agree that there are a lot better routes to go than PayPal, but I am one who likes options. PayPal is just another option which can be very useful and safe when used right.
April 04, 2013, 01:12:31 PM
Paypal is such a ripoff. Blow up the datacenters!
April 04, 2013, 12:24:40 PM
I have a question: I can see the PP issue, but what is your opinion on this particular situation?
An Ebay seller has up for bid his early 60gh BFL Single order. Very early supposedly. He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction. I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day). This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.
He turned this down and said only BTC. So I asked "How many BTC?" Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).
Now I feel like this is a scam. Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct? And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible? Do I sound paranoid or reasonably suspicious?
Reasonably suspicious. Don't do it, it's probably a scam.An Ebay seller has up for bid his early 60gh BFL Single order. Very early supposedly. He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction. I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day). This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.
He turned this down and said only BTC. So I asked "How many BTC?" Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).
Now I feel like this is a scam. Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct? And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible? Do I sound paranoid or reasonably suspicious?
Yeah, I just found that he previously completed an auction on the same unit and turned down the buyer at a price of $21,000 because it wouldn't be BTC. Seems legit.
April 04, 2013, 11:42:30 AM
I have a question: I can see the PP issue, but what is your opinion on this particular situation?
An Ebay seller has up for bid his early 60gh BFL Single order. Very early supposedly. He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction. I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day). This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.
He turned this down and said only BTC. So I asked "How many BTC?" Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).
Now I feel like this is a scam. Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct? And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible? Do I sound paranoid or reasonably suspicious?
Reasonably suspicious. Don't do it, it's probably a scam. An Ebay seller has up for bid his early 60gh BFL Single order. Very early supposedly. He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction. I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day). This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.
He turned this down and said only BTC. So I asked "How many BTC?" Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).
Now I feel like this is a scam. Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct? And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible? Do I sound paranoid or reasonably suspicious?
April 04, 2013, 11:41:28 AM
Paypal has the reslove issue where you can report and get a refund unlike bitcoin.
April 04, 2013, 10:15:21 AM
I have a question: I can see the PP issue, but what is your opinion on this particular situation?
An Ebay seller has up for bid his early 60gh BFL Single order. Very early supposedly. He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction. I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day). This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.
He turned this down and said only BTC. So I asked "How many BTC?" Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).
Now I feel like this is a scam. Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct? And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible? Do I sound paranoid or reasonably suspicious?
An Ebay seller has up for bid his early 60gh BFL Single order. Very early supposedly. He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction. I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day). This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.
He turned this down and said only BTC. So I asked "How many BTC?" Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).
Now I feel like this is a scam. Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct? And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible? Do I sound paranoid or reasonably suspicious?
April 04, 2013, 10:14:55 AM
Yea, have to agree about Paypal. They act without any investigation up front. This is really not that big of a deal if you are talking about sub hundred transactions, but when you start dealing in 1000s, it is a mess. I avoid whenever I can.
April 04, 2013, 06:42:52 AM
Was a victim to Paypal fraud last year. It's a real bummer. And Paypal suck at resolving such issues.
Glad to see Bitcoin users are being proactive and not getting tangled in such a mess (Paypal)
Glad to see Bitcoin users are being proactive and not getting tangled in such a mess (Paypal)
April 04, 2013, 05:04:30 AM
Thanks a lot for this post, I was considering using PayPal to buy some bitcoins but now that I've read this, I've been reminded when I sold my WOW account for like $800 via PayPal...and got scammed. You are completely right, PayPal is weak, and I've got fresh memories of why I hate it.
April 04, 2013, 01:19:17 AM
I am very excited to see what is to come about the current race to create the first BTC credit card 
Nothing more fun than a credit line on a booming currency lol
April 03, 2013, 09:43:56 PM
The way that I see it is the next big gold rush in the BTC economy is no longer to directly acquire coins or mine them, but to create useful, quick, and transparent services that will facilitate these transactions. I am very excited to see what is to come about the current race to create the first BTC credit card
April 03, 2013, 06:13:40 PM
Could escrow services help this?
Unlikely, transactions through escrow could still be reversed.
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