Paypal screw up again [Bitcoin wins] - page 3.

RageAgainst

newbie

Activity: 10

Merit: 0

Quote from: 1Referee on October 23, 2014, 02:46:32 PM

Quote from: RappelzReborn on October 23, 2014, 12:41:05 PM

Again , Paypal proove that they don't know what they are doing . I'am planning to let paypal go , and just trade my money to Bitcoins.
this image explains all ... now kids can just chargeback after 4-5 months . GG *facepalm*

https://www.paypalobjects.com/webstatic/MarketingOperations/APAC/en_AU/imgAU_APAC_201410_APAC00987_PayPal_Buyer_Protection_Banner_695x60.jpg

Paypal didn't screw up...

It's just an extra protection for current and potential buyers, and they will actually like it.

People still compare Paypal with Bitcoin, none will win and none will lose. These are two totally different payment options.

true ref..there's no win n lose here..! although one can help the other! hopefully

Q7

sr. member

Activity: 448

Merit: 250

I'm not against nor am i going support the change but if we consider carefully, certain items like for instance electrical appliances have warranty period that extends up to 6 months.

ytr8

full member

Activity: 182

Merit: 100

in my country ,the time to ldge your dispute is only 7 days..

You are all happy as consumers

Ruthful

full member

Activity: 195

Merit: 100

Quote from: fryarminer on October 23, 2014, 08:30:32 PM

I have lost over $3000 to "Buyer protection" and no, they did not give back the bitcoins that I sold them. And yes, PayPal sided with the buyer.
"We are sorry sir, we do not want to see your proof from the blockchain. We have no interest at all in your proof. We side with the buyer."

Have you ever consider how many buyers you would have lost if they don't have buyers protection at all?

fryarminer

hero member

Activity: 686

Merit: 500

Quote from: Come-from-Beyond on October 23, 2014, 12:55:50 PM

Quote from: LiteCoinGuy on October 23, 2014, 12:48:51 PM

ROFL! these fucking motherfuckers.

man, one day i hope we dont need them anymore.

Explain, please. As a buyer I want to be protected by ability to get the money back if I'm not satisfied with the quality of a purchase. Your post looks illogical to me.

I have lost over $3000 to "Buyer protection" and no, they did not give back the bitcoins that I sold them. And yes, PayPal sided with the buyer.
"We are sorry sir, we do not want to see your proof from the blockchain. We have no interest at all in your proof. We side with the buyer."

ruggedman_dan

legendary

Activity: 1012

Merit: 1000

We on P. Sherman 42 Wallaby Way, Sydney

"Professional buyers" have been around ever since PayPal made it clear that they will protect buyers almost all of the time. The scammers have moved on from selling and never shipping to buying Macbooks, filing disputes, returning phonebooks in their place and getting fully refunded.

I hate PayPal but I cannot knock their business model. Pander to the buyers and the sellers will follow. As a seller, you almost get muscled into using PayPal because that's what your buyers demand.

Ruthful

full member

Activity: 195

Merit: 100

How is this even be considered as a screw up???.This sound more detrimental to bitcoin.

They are making Paypal even more attractive to regular consumers AKA the general public.

It doesn't matter how many sellers want bitcoin, if buyers prefer to use more convenient payment methods that offers more protection to them then there's not much reason for them to switch to bitcoin ,is there?

bitllionaire

legendary

Activity: 1120

Merit: 1000

that is good for buyers,but really bad for sellers....
60 days would have been a more logical increase,but more than that is excessive

mercistheman

sr. member

Activity: 378

Merit: 250

Def gonna rethink selling on ebay... IMO this will cost them considerable $ s.

Lazlo

member

Activity: 70

Merit: 10

★ RipDice - Provably fair dice game ★

It is not 180 day's to allow for chargeback, chargebacks are done via you credit card company and can be done at any time, they are expanding the time a buyer has to lodge a dispute, which they have specialists review before making a decision on who to side with, for seller there is plenty of ways to protect yourself from scammers and paypal have many tips on how to stay safe

opossum

hero member

Activity: 924

Merit: 1000

Quote from: RappelzReborn on October 23, 2014, 04:02:39 PM

Quote from: 1Referee on October 23, 2014, 02:46:32 PM

Quote from: RappelzReborn on October 23, 2014, 12:41:05 PM

Again , Paypal proove that they don't know what they are doing . I'am planning to let paypal go , and just trade my money to Bitcoins.
this image explains all ... now kids can just chargeback after 4-5 months . GG *facepalm*

Paypal didn't screw up...

It's just an extra protection for current and potential buyers, and they will actually like it.

People still compare Paypal with Bitcoin, none will win and none will lose. These are two totally different payment options.

They did , at least this what think.
They may be protecting the buyer ... by not the seller

Buyers are what drive the economy. Without buyers then there will be no economic output. It is also the sellers that are competing for the buyers' business not the other way around. If buyers are better protected then it will be easier for a seller to compete for business.

Also the sellers are protected. In the event the buyers is successful at getting their money back from a frivolous chargeback, the seller could take the buyer to court and sue the buyer for what is owed to them plus legal fees

TheButterZone

legendary

Activity: 3038

Merit: 1032

RIP Mommy

Quote from: RodeoX on October 23, 2014, 01:49:21 PM

Perhaps this policy will not apply to bitcoin use? We really don't know how they are going to implement it yet.

Yeah, maybe PayPal will only accept cash in the mail with a signed BTC message proving ownership of the key in the envelope, and restrict withdrawals to that address with re-signing required each time. Wink

RappelzReborn

hero member

Activity: 686

Merit: 500

Quote from: 1Referee on October 23, 2014, 02:46:32 PM

Quote from: RappelzReborn on October 23, 2014, 12:41:05 PM

Again , Paypal proove that they don't know what they are doing . I'am planning to let paypal go , and just trade my money to Bitcoins.
this image explains all ... now kids can just chargeback after 4-5 months . GG *facepalm*

Paypal didn't screw up...

It's just an extra protection for current and potential buyers, and they will actually like it.

People still compare Paypal with Bitcoin, none will win and none will lose. These are two totally different payment options.

They did , at least this what think.
They may be protecting the buyer ... by not the seller

erre

legendary

Activity: 1694

Merit: 1207

Quote from: R2D221 on October 23, 2014, 01:51:13 PM

Quote from: erre on October 23, 2014, 01:46:19 PM

The market dosen't need paypal. If an instrument is obsolete, it will be abandoned.
But there's a pro in paypal behaviour: a buyer will preferably buy were he's best protected from scams. Frequent scams are why people don't like to buy on an unknown/untrusted website, even with fiat and paypal, and this is a big problem for small indipendent sellers. This is a huge problem with btc too, as escrow is too complicated for the average user to use

Yes, but what happens when the scammer is the one buying? Honest sellers are screwed with this model.

Honest sellers need to attract buyers, unless you make BIG discounts .But that would seem even more a scam, and in the long run you'ĺl lose more money for discounts than for a couple of unlikely chargeback scams.

BItcoin need a better user-friendly escrow system, I hope that open bazaar will success in that goal.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: RappelzReborn on October 23, 2014, 12:41:05 PM

Again , Paypal proove that they don't know what they are doing . I'am planning to let paypal go , and just trade my money to Bitcoins.
this image explains all ... now kids can just chargeback after 4-5 months . GG *facepalm*

Paypal didn't screw up...

It's just an extra protection for current and potential buyers, and they will actually like it.

People still compare Paypal with Bitcoin, none will win and none will lose. These are two totally different payment options.

R2D221

hero member

Activity: 658

Merit: 500

Quote from: erre on October 23, 2014, 01:46:19 PM

The market dosen't need paypal. If an instrument is obsolete, it will be abandoned.
But there's a pro in paypal behaviour: a buyer will preferably buy were he's best protected from scams. Frequent scams are why people don't like to buy on an unknown/untrusted website, even with fiat and paypal, and this is a big problem for small indipendent sellers. This is a huge problem with btc too, as escrow is too complicated for the average user to use

Yes, but what happens when the scammer is the one buying? Honest sellers are screwed with this model.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Perhaps this policy will not apply to bitcoin use? We really don't know how they are going to implement it yet.

erre

legendary

Activity: 1694

Merit: 1207

Quote from: Come-from-Beyond on October 23, 2014, 01:35:40 PM

Quote from: Remember remember the 5th of November on October 23, 2014, 01:20:06 PM

Example:Buy PS4 through PayPal, play with console for 170 or so days(may be less), file dispute, get money back. Profit.

But what is most likely to happen. Buy bitcoins through PayPal, wait 170 or so days and file dispute, get money back.

The market will find an equilibrium point even in this case. No need to worry for this, the market has been doing it for ages.

The market dosen't need paypal. If an instrument is obsolete, it will be abandoned.
But there's a pro in paypal behaviour: a buyer will preferably buy were he's best protected from scams. Frequent scams are why people don't like to buy on an unknown/untrusted website, even with fiat and paypal, and this is a big problem for small indipendent sellers. This is a huge problem with btc too, as escrow is too complicated for the average user to use

FeedTheDolphins

member

Activity: 60

Merit: 10

Wow. It seems our assumptions about Paypal wanting to be more secure and cracking down on false chargebacks are completely wrong. I guess we gave Paypal too much credit despite its track record.

MF Doom

hero member

Activity: 560

Merit: 500

wow, just wow. I know I always breathe a sigh of relief after 45 days if I sell on eBay, this makes me really scared to keep using ebay/paypal

Topic: Paypal screw up again [Bitcoin wins] - page 3. (Read 4638 times)