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Topic: PayPal really needs to be shut down and replaced immediately (Read 2802 times)

sr. member
Activity: 476
Merit: 250
People, the prohibition against using Paypal for certain financial activities has ALWAYS been in Paypal's Acceptable Use Policy!

It has been there for all to see all along!

https://www.paypal.com/us/webapps/mpp/ua/acceptableuse-full

(3)relate to transactions that (a) show the personal information of third parties in violation of applicable law, (b) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs, (c) are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card, (d) are for the sale of certain items before the seller has control or possession of the item, (e) are by payment processors to collect payments on behalf of merchants, (f), are associated with the sale of traveler's checks or money orders, (h) involve currency exchanges or check cashing businesses, or (i) involve certain credit repair, debt settlement services, credit transactions or insurance activities."

No one should be surprised!

The moral of the story, though the story's kind of gory is....................

DON'T USE PAYPAL FOR ANYTHING EVEN REMOTELY RELATED TO BITCOIN OR ANY OTHER CRYPTOCURRENCY!

Not now, not ever, NEVER!


And don't get mad at service providors, manufacturers and those who deal in anything related to Bitcoin and crypto for refusing to accept Paypal!

My $.02.

Wink
legendary
Activity: 2282
Merit: 1050
Monero Core Team
I stopped using PayPal for domain sales back in 2006. Never had any problems with PayPal, but there are just to many horror stories such as the OP's for my comfort. Currently for domain name sales I give the purchaser the option of:
1) Bitcoin with no additional fees
2) Escrow.com with escrow fess to be paid by the purchaser.
For larger sales I have also accepted wire transfer.

For the OP I would suggest to contact SEDO and ask them to pay you by another means (offer them a choice of Bitcoin or wire transfer) after you issue them a refund via PayPal back to SEDO. If SEDO refuses after escalation I would suggest to contact an attorney for legal advice. The way I see this a promise to pay by PayPal in six months is not legal tender.

By the way situations like this help explain why Bitcoin is trading at over 1000 USD per BTC and it is not just speculators.
sr. member
Activity: 278
Merit: 251
Complain all you want, but at the end of the day it's your fault for not requiring the buyer to pay in Bitcoin.

Perhaps you've learned your lesson now.
hero member
Activity: 826
Merit: 501
in defi we trust
Problem is that SO MANY people use paypal.  They have gotten huge, so if you wish to boycot them, they could really care less.  Oh well, their lack of customer service will be their downfall.  Maybe they are already looking to cash out and know what's coming, they can't be that blind to it.  Maybe these bans are just their last attempts to prolong their reign for as long as possible.  I mean, if they wanted to implement bitcoins, who would need them?  There's no longer need for a middle man like paypal.

What is bitpay? blockchain wallet?  the rip inputs.io ?
Paypal will survive , don't worry for them.
hero member
Activity: 784
Merit: 500
I haven't had any terrible issues with PayPal yet, their support are fine in my opinion considering I only contacted them once in regards to a transaction and me being limited due to using VPN. Other than that, their site is fine but that may be because I've been a member for 7 years.
full member
Activity: 165
Merit: 100

Reading this http://journal.crypto.st/
And seeing how you were bashing paypal in the past , well , you still went and use them.

" Paypal is famous for its lack of customer service and expedience when it comes to banning accounts for completely silly reasons.  Our CEO has been banned from Paypal for risk purposes and he’s the nicest guy alive."

Honestly , you deserved it.


Lesson learned. My next domain name sale, bitcoin.ag, is being done via bitcoin
full member
Activity: 170
Merit: 102
best thing about bitcoin, getting rid of middlemen Smiley
member
Activity: 84
Merit: 10
Problem is that SO MANY people use paypal.  They have gotten huge, so if you wish to boycot them, they could really care less.  Oh well, their lack of customer service will be their downfall.  Maybe they are already looking to cash out and know what's coming, they can't be that blind to it.  Maybe these bans are just their last attempts to prolong their reign for as long as possible.  I mean, if they wanted to implement bitcoins, who would need them?  There's no longer need for a middle man like paypal.
hero member
Activity: 826
Merit: 501
in defi we trust

Reading this http://journal.crypto.st/
And seeing how you were bashing paypal in the past , well , you still went and use them.

" Paypal is famous for its lack of customer service and expedience when it comes to banning accounts for completely silly reasons.  Our CEO has been banned from Paypal for risk purposes and he’s the nicest guy alive."

Honestly , you deserved it.
member
Activity: 84
Merit: 10
Wow.  This is one of the most DISGUSTING things I've EVER SEEN!  WTF is wrong with them.  You were not dealing with currency exchange.  I mean, come the F on!  I can't believe you're not more upset (at least in your posts).  I'd be looking for someone to beat up with a stick.

Man, thanks for setting me 100% on NEVER EVER dealing with paypal as long as I live under any circumstances.
full member
Activity: 165
Merit: 100
And the latest - my account is closed. Despite me doing everything that they asked, they closed my account:

Code:
We have reviewed your PayPal Account, and due to the excessive risk
involved, we would like to begin parting ways in a manner that is least
disruptive to your business.

-----------------------------------
Disbursement options
-----------------------------------

Option 1. If you owe refunds to any of your buyers, you can use the money
in your PayPal account to refund them.

To refund your buyers:
1. Log in to your PayPal account.
2. Click "Contact Us" at the bottom of any page.
3. Click the link under "Email us" to send us a refund request.

Option 2. Money in your PayPal account will be held for 180 days. After 180
days, we'll email you information on how to receive your funds.

We regret any inconvenience this may cause.

Sincerely,
PayPal Account Review

How nice of them to hold my money for 180 days.
sr. member
Activity: 434
Merit: 250
the giants are sleeping.. and let them. one day they will wake up and their kingdom will be gone  Wink

bitcoin is a good hedge for the current financial service juggetnauts to stop treating consumers like shit. paypal won't admit it, but bitcoin threatens the very fiber of their business model.
sr. member
Activity: 476
Merit: 250
One thing everyone here seems to forget or perhaps it is something that many here did not know in the fisrt place.

Now, clearly understand that I am NOT coming to the defence of Paypal as such, so don't blow a gasket on me here.

It has ALWAYS been against the Terms of Service of Paypal,  ALL credit card processors and the  TOS of the credit card companies to use such services for any kind of currency conversions; gift cards being the notable exception.

Since about three days after the first credit card was introduced is how long such bans have been in force.

This is nothing new; it is just the first time that the profitability of operating merchant services and credit card compannies has been seriously threated by any kind of alternative processing.

If cryptocurrncies are being targetted by the CC people it is because of the danger to their profits that crypto poses.

There are ways to avoid being screwed by the processors and still do crypto transactions but you have to be realoy smart about it and digusise the transactions for what they are but there are inherent risks there also.

The solution?

Wire transfers.

Crypto transfers.

Western Union.

Moneygram.

My $.02.

Wink

Right you are - except I wasn't using PayPal for crypto transactions. I sold a domain name.

"I recently sold a bitcoin related domain name that I own on sedo.com and the transaction was completed via PayPal."

I know.

Everyone should distance themselves as far as possible from all conventional merchant processing for anything connected with crypto!

My $.02.

Wink
legendary
Activity: 1330
Merit: 1000
Bitcoin
Paypal is a bunch of pussies.
full member
Activity: 165
Merit: 100
One thing everyone here seems to forget or perhaps it is something that many here did not know in the fisrt place.

Now, clearly understand that I am NOT coming to the defence of Paypal as such, so don't blow a gasket on me here.

It has ALWAYS been against the Terms of Service of Paypal,  ALL credit card processors and the  TOS of the credit card companies to use such services for any kind of currency conversions; gift cards being the notable exception.

Since about three days after the first credit card was introduced is how long such bans have been in force.

This is nothing new; it is just the first time that the profitability of operating merchant services and credit card compannies has been seriously threated by any kind of alternative processing.

If cryptocurrncies are being targetted by the CC people it is because of the danger to their profits that crypto poses.

There are ways to avoid being screwed by the processors and still do crypto transactions but you have to be realoy smart about it and digusise the transactions for what they are but there are inherent risks there also.

The solution?

Wire transfers.

Crypto transfers.

Western Union.

Moneygram.

My $.02.

Wink

Right you are - except I wasn't using PayPal for crypto transactions. I sold a domain name.
legendary
Activity: 3374
Merit: 4738
diamond-handed zealot
regarding the OP

PP is great, it is the best thing that ever happened to bitcoin, the longer that corrupt, antiquated piece of shit staggers on the better bitcoin looks
sr. member
Activity: 476
Merit: 250
One thing everyone here seems to forget or perhaps it is something that many here did not know in the fisrt place.

Now, clearly understand that I am NOT coming to the defence of Paypal as such, so don't blow a gasket on me here.

It has ALWAYS been against the Terms of Service of Paypal,  ALL credit card processors and the  TOS of the credit card companies to use such services for any kind of currency conversions; gift cards being the notable exception.

Since about three days after the first credit card was introduced is how long such bans have been in force.

This is nothing new; it is just the first time that the profitability of operating merchant services and credit card compannies has been seriously threated by any kind of alternative processing.

If cryptocurrncies are being targetted by the CC people it is because of the danger to their profits that crypto poses.

There are ways to avoid being screwed by the processors and still do crypto transactions but you have to be realoy smart about it and digusise the transactions for what they are but there are inherent risks there also.

The solution?

Wire transfers.

Crypto transfers.

Western Union.

Moneygram.

My $.02.

Wink
501
newbie
Activity: 28
Merit: 0
Keep in mind most PayPal employees are just average joes making close to minimum wage to copy/paste generic answers from a guidebook. They used to offer dedicated support for high volume clients but got rid of it months ago because I guess they decided customer support wasn't important.

Should've had the guy pay you in bitcoin.
legendary
Activity: 1078
Merit: 1003
Where you from? In The Netherlands the Rabobank is blocking Bitcoin transactions because the Ethical board decided that it's not ethic. I don't know if you know that Rabobank was the biggest player in the Libor scandal? Articles to back me up: http://www.reuters.com/article/2013/10/29/us-rabobank-libor-idUSBRE99S0L520131029

I mean, that's ethical right?

Therein lies the trouble with objective morality Cheesy
hero member
Activity: 490
Merit: 500
I mean, that's ethical right?

Everything the banks do is ethical (according to themselves). Then they can cherrypick anything else that they think is not ethical.

To OP:

I understand perfectly well what you're doing, and what you're not doing - I would've reviewed your account, and immediately cleared it. However, most people working on support are drones who only see things dangling in front of them, if somebody went past such a drone wearing a bitcoin t-shirt, the drone would've flagged the current account he's investigating at the same very moment as a bitcoin related account immediately, and dispatched the same e-mail, just to be on the safe side.

Precise, accurate and logic, I've never really experienced that from anyone working 1st line support anywhere. It's a reason they have such low end jobs. The bright and sharp people are usually higher up in the organization.

The only way to go forward with this, is to play it according to Paypal's rules. Then when the money has cleared, shut down your account and clearly state to them why you're closing down your account, and if you want to make more fuzz about it, make a blog post about it or something.

The 'notarized' part of the affidavit really cracked me up. But if that's their game, that's what you have to do. Use bitcoin in the future.
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