Topic: Paypal Buyer Protection (Read 1695 times)

They lore people to open unverified accounts, then on fake pretexts freeze the account and start blackmailing the owner to give personal information or endure having their funds frozen for 3 months.

After that time, you still can't withdraw unless you are willing to give them your bank account information.

Delenda est Paypal.

Thanks for the update.
Can you really blame them though?

Why all this hate for PayPal. I don't like them, but I have used them nearly every day since the last century and have never had a real problem, just an occasional hiccup. (I'm an eBay and Amazon seller for my monetary gain.)

On the other hand I have had real problems with other banking entities. Wells Fargo, Chase, Bank of America, all crap. I now bank with a local credit union, and while the features are a little lacking - like a less intuitive Web site - I always get great personal service.

Yes I'm working on moving some of my sales to Bitcoin via bitcoin friendly online sale sites. The few sales I've done have been great.

this is kinda why I was thinking a centralized store house behind a 100% premined and then sold for something to be stored (or raw materials that need refined at a bit of an increase in goods to make up for the need to refine the goods) would be a really good move. I know of a number of easy to set up systems that would work, like say a coin that is backed by 1/5th of a pound of refined (read 99.999% pure) copper, want a coin, send in either a pound of scrap copper in any form (even PCB copper can be counted) wait for refinement and then you get a quantity of coin in your wallet based on the amount of copper refined minus their costs of refining it. additionally, want to cash out to something that you can hold onto yourself? no problem, cover shipping expenses either via tx fees for transactions, or the buyer pays in shipping costs and has the ultra pure copper rounds sent to their home, and make sure as I said the rounds are always the same purity, and the same weight, no changing weights on shit things, just because the fiat value on the copper changed the way liberty dollar originally did, in fact there is a ton of "what not to do" info on that original scam, that I am surprised anyone picked up and was willing to use the name afterwards, to me it would be like choosing to use the name "nazi campgrounds" considering the evil that went behind the nazi concentration camps in WWII. If they liked the idea of liberty and used it because of that, then I would say go with libertarian coin or something lol.

anyway, that is my thought on what to do to get away from paypal. cause the blockchain makes it possible to see what is going on, we could have a charge back system and all if the thing was set up that way to begin with, and still by making it an open wallet that does the hashing to update and prove the blockchain, it would be democratically ran and give maybe a way to allow people to vote and make suggestions that all people can see and second and what not to get them implemented when it comes to policy changes and such. anything that would need to be figured out and work put in like coding though would have to be a "suggest it, get it voted on, then what people have voted on is to allow some money to be put toward getting it coded to the new set up or rely on someone to out of the goodness of their heart do the coding and offer it up for the public, along with maybe a donation address for their good work )

I don't underwtand why Paypah had this success same he don't offer guarantee to the seller.

Thats probably the next scam. "Bitcoin Magazin" got negative trust from a mod for not finding the alt coin section. Id argue that someone overchallenged with such a simple task can not judge whether a trade is reputable or not.

Paypal has always been a noxious, horrible company. I think the only time I’ve used it in the past 2 years now i. I’m sure there are other times I’ve used it that I can’t remember (I’m sure paypal sure can), but its about time online merchants or anyone who collects money for any reason figure out a new way to get paid. Hell, use bitcoin or something. Anything but paypal.

Do not use paypal for digital good.

You will have no proof of delivery to the right person.

tl;dr: Bitcoin > PayPal

PayPal could be a much greater portal for bitcoin sales and purchases, but a lot of work is needed on buyer protection end. In the end it it's the scammers at fault and boot PayPal.

That's quite a premium, even for a fractional amount.

In any case it is probably worth PMing the user regarding such an offer. After being scammed already - albeit for a relatively small amount, I can't imagine that they are up for paying top dollar.

i know a reputable source that can sell u 0.1 btc for only $75.  i've dealt with them persoanlly many times

Its clear written in paypal policy they do not cover buyer protection on Digital Goods.

If it isn't tangible, Paypal won't back it. Been this way long before Bitcoin.

See, this is why you never want to use Paypal to buy and sell cryptos. That was one of the first things I learned.

Because they're owned by eBay that's why. They've got so much fiat currency behind them that it's not even funny.

In this case, he was scammed without direct responsibility from paypal. Usually, it's someone that sold bitcoins and was paid by paypal, that is scammed, because the buyer did a chargeback claiming that his paypal account was hacked and paypal gave him back his money. In this case, paypal just refused to take parts, helping the scammer with inaction instead of being paypal the doer of the scamming action.

If the op complained that his account was hacked and that he didn't order the payment, he could end up on top.

Now, it seems his only help are the credit card company, if he used one attached to his paypal account.

Never do any deal with a site without searching the site in detail.

Open a thread on the scamms thread https://bitcointalk.org/index.php?board=83.0, in order to screw their business and save others from the same mistake.

P.S. As Cato, the elder, would end his speech ("Delenda est Carthago"), I end with my "I hate paypal" or, why not, Delenda est Paypal.

PayPal aren't that bad. I think it's a case of knowing when to use something like PayPal and when not to. In this case the buyer was foolish to believe that the deal was legit and relied on PayPal to back him up in case.

In this case it wasn't wise to use PayPal for such a speculative purchase when the chance of receiving the goods was little to none.

Why God why !!! 
NEVER use PayPal. Your money is gone.

PayPal has fucked so many people over I'm honestly scared to use it. From holding funds for no reason, random transactions, and not protecting buyers... Why aren't they shut down?

i guess that's the cost of your lesson. dealing through paypal + too good to be true. it's a good idea to exercise caution.. that should be rule #1 for bitcoin.