Topic: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why - page 4. (Read 28859 times)

Paypal is a pain in the ass, i'm hoping alt coins and the likes stabilize and become the new way for transferring funds

It seems like you can buy physical bitcoins, and then exchange those in person.  https://www.casascius.com/ offers physical bitcoins (might be sketchy, as I haven't tried).

No, not at all.

Thanks for posting this.  Seems like buying local is the way to go.  Any suggestions on how to meet in person to buy?   Any smartphone apps that can be used when meeting in person that one could suggest using?

Aren't bitcoins evidence of work done?

I guess yes, since they may have problems with taxation

Yes, you can have a buyer pay you for a service such as "cutting the grass". The payment must be noted as a service and the details must be included in the transaction notes/info. When PayPal reviews the case, they take this into account. They actually have Seller protection too.

You could pay for a programmer who writes code.

No, PayPal doesn't look at the Block Chain or anything. Since it is a violation of their policy - it doesn't matter.

Wow, I didn't know this. Does the same restriction apply to other online payment systems such as OkPay?

Can you sell services via ebay/paypal?

Where the only thing sold is work done?

Aren't bitcoins evidence of work done?

Coins are physical, BitCoins are not. Selling BitCoins on paper or plastic, sending the buyer a physical item, is not against their ToS.

I hear that cryptocoins aren't officially currency, just 'financial instruments'.

Also, doesn't ebay have a 'coins' section where currency is bought and sold, via Paypal.

If you sell with PayPal, they will catch you:

https://bitcointalksearch.org/topic/paypals-stance-on-bitcoin-sales-194646

With all the cryptocoins being sold on ebay, paid via Paypal, i'd have thought that they would seem to have accepted its trade.

how come you don't just make a Mt Gox gift card with the code right on the card, send it to them physically with tracking number. As far as I know physical products with tracking are covered under paypal and ebay's  tos.

Paypal...

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

Very interesting and fascinating information, I'll have to go and do more research for this. The problem as I see it is that in paypal's attempt to be fair they include features that if one is not honest they can abuse in order to try and get more reward for themselves.

i try to avoid paypal while dealing with cryptocurrencies.

Great info thank you for posting that

"whatever else the monster eats."

Tell me about it!

A lot of people say that Meg Whitman lost when she ran for Governor of California due to the fact she might have had an illegal maid working for her.  I actually think that there were a lot of eBay sellers that were California voters who voted for the other person because of their long memories of what eBay became on her watch.

But that's just my opinion.

One of the deep dark dirty secrets Paypal doesn't want people to know is, they are a licensed money service bureau in several states, California being one of them.  The laws in California state that all money service bureaus MUST provide money sent to someone within one week, that they are not allowed to hold money any longer than that.  It's rather ironic because Paypal freezes accounts for 6 months, sometimes longer.  But if you file a complaint with the right people (or even tell Paypal either on the phone or via email that is your next move) then someone at Paypal will call you back from that mysterious department that supposedly never takes any calls and work things out with you much faster.

If they lose their money service license in California they are likely out of business for a while, although given the status of the California economy they can likely just pay them off somehow (big fines, no jail time) since the government is broke.

The real problem with using Paypal is, they consider Bitcoin a competitor.  Truth is, Bitcoin is not just a competitor but a SUPERIOR competitor.

If you were running Paypal would YOU assist YOUR COMPETITOR in putting you OUT OF BUSINESS?  Think about it...I know I wouldn't!

And so using Paypal is risky for both buyer AND seller.  Why?  Because just like when e-gold was around and was better than Paypal, Paypal's user agreement does not allow for using the account to trade or exchange currencies.  They specifically put it in the user agreement that you would not do that in order to protect themselves.  They have a lot of licenses that they hold, and some of them are kind of unique and very specific depending on what locale the license is from.

Using Paypal as a buyer is risky because it gives them a reason to freeze your account.  And if you are doing business with that account it presents a real nightmare.  The thing with Paypal is, they are most likely to shut down or freeze your account when it's most advantageous to THEM, which in many cases (probably most) means when it's least advantageous to you.  For instance, when it has a high balance and you need that money to continue operating!

Paypal worships Murphy and his laws, attempting to imitate Murphy at every opportunity...