PayPal really needs to be shut down and replaced immediately - page 2.

XBBlade

member

Activity: 98

Merit: 10

Quote from: mu on November 30, 2013, 11:53:07 AM

Banks where I'm located are shutting down any accounts being used for local bitcoin selling. PayPal is a 1990s web dinosaur, and I look at it on the same level as I do a massive bank. They need to play it safe because of how large they've grown, and I get that, but yeah their policies are incredibly lame. Their fees are just as ridiculous as a bank's, too. No wonder Elon Musk moved onto better, more innovative things long ago.

On the plus side, PayPal is already in the process of being replaced...by bitcoin!

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?

JTrain_51

member

Activity: 84

Merit: 10

Paypal has been needing a replacement for a long time!

Lucky we got perfect money etc....
Or we would be screwed

hilariousandco

global moderator

Activity: 4018

Merit: 2728

Join the world-leading crypto sportsbook NOW!

Sorry to hear that. Paypal are absolute twatwaffles for doing this kind of shit.

LostDutchman

sr. member

Activity: 476

Merit: 250

Virtually any credit card or payment processor is very dangerous to use in connection with cryptocurrencies. It's not only Paypal.

Cyrpto poses a serious threat to the monies extorted by payment processors through merchant fees, interst and late charges.

You realy don't think they are going to sit still for this do you?

I will accept Paypal for ony very few things now but anything to do with crypto is not included in those things.

My $.02.

Wink

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: niothor on November 30, 2013, 12:24:24 PM

Why haven't you used bitcoins to sell the domains?

^ This.

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: mu on November 30, 2013, 11:53:07 AM

Banks where I'm located are shutting down any accounts being used for local bitcoin selling. PayPal is a 1990s web dinosaur, and I look at it on the same level as I do a massive bank. They need to play it safe because of how large they've grown, and I get that, but yeah their policies are incredibly lame. Their fees are just as ridiculous as a bank's, too. No wonder Elon Musk moved onto better, more innovative things long ago.

On the plus side, PayPal is already in the process of being replaced...by bitcoin!

You know what bitcoin is? It's a currency. (well , supposed to be)
Paypal can easily adopt bitcoins , hmm just like bitpay , or based on the inputs.io (without the scam) model.

Don't sing their death song so easily.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Yep, paypal sucks alot Lips sealed

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

So , Paypal it's evil , but you used it.
Why haven't you used bitcoins to sell the domains?

This reminds me of all the people , paypal must die , must be closed and the next post... why can't it buy bitcoins with paypal ?

Irony at it's finest

Carlton Banks

legendary

Activity: 3430

Merit: 3080

Not to worry, Bitcoin's already biting their ankles: http://www.coinometrics.com/bitcoin/btix

bitcoinminer

sr. member

Activity: 322

Merit: 252

Should have used an escrow service for a domain name sale.

mu

newbie

Activity: 28

Merit: 0

Banks where I'm located are shutting down any accounts being used for local bitcoin selling. PayPal is a 1990s web dinosaur, and I look at it on the same level as I do a massive bank. They need to play it safe because of how large they've grown, and I get that, but yeah their policies are incredibly lame. Their fees are just as ridiculous as a bank's, too. No wonder Elon Musk moved onto better, more innovative things long ago.

On the plus side, PayPal is already in the process of being replaced...by bitcoin!

shamoons

full member

Activity: 165

Merit: 100

I recently sold a bitcoin related domain name that I own on sedo.com and the transaction was completed via PayPal. Since the transaction was large, PayPal asked for more information (first problem - what does it matter how large the transaction is??). So I told them that I sold a domain name and provided a sedo-issued receipt. Now, I get this e-mail:

Code:

We have reviewed your PayPal account and found that you are operating as an
e-currency dealer/exchanger including the sale of electronic media of
exchange (such as electronic money or digital currency). Per our current
Acceptable Use Policy for Money Service Businesses, PayPal may not be used
to operate a currency exchange, bureau de change or check cashing business
including the sale of Bit Coins.

To continue using your PayPal account, we need some additional information
from you. Please provide us with the following:

  • A brief affidavit stating that you understand and will comply with
PayPal's terms and conditions. 
  • A listing of the products and services you offer.
  • A detailed explanation of your business model. 
  • A list of all URLs or websites that will be used to receive payments.
  • The type of payments you will send and receive, including the type of
goods or services you will accept payments for.

Below you will find suggested affidavit language. Please make sure that the
requested affidavit is signed and notarized.

I the undersigned do affirm that I understand and will comply with PayPal's
policy regarding the use of PayPal Accounts to operate an e-currency
exchange business. I understand that PayPal may not be used to operate a
currency exchange, bureau de change or check cashing business. I further
affirm that any further detected violation of the policy may result in the
immediate closure of, or restriction to access to the account. 

Please log in to your account and go to the Resolution Center to find out
what you need to do. Your account will remain limited until the issue is
resolved.

We look forward to hearing from you and thank you for choosing PayPal as
your business partner.

Sincerely,
Nan
PayPal Compliance Department
PayPal, an eBay Company

So there you have it - selling bitcoin related domain names now qualifies me as a currency exchange of "Bit Coins." Now, I do operate Crypto Street, but obviously, I don't use PayPal there.

Topic: PayPal really needs to be shut down and replaced immediately - page 2. (Read 2802 times)