My understanding of the situation.
One.) Buying and selling any kind of Virtual good is already against Paypals ToS. Paypal will allow it but the Risk is always on the side of the seller. Player Auctions gets around this by taking responsibility for all trades. If a buyer tries to do a charge back Player Auctions tells Paypal he was paying for a service not the virtual goods themselves.
or
Two.) Paypal makes Player Auctions flip the bill when a buyer dose a charge back.
Ether way Paypal is breaking their own rules by doing business with PA.
Topic: PlayerAuctions.com removed Bitcoin sales. (Read 2871 times)
From looking at the PlayerAuctions site I get the idea that they were selling Bitcoin for PayPal USD not using Bitcoin as a payment source for their other products. If this is indeed the case then PayPal is right here. Accepting PayPal for Bitcoin is just asking for fraud and chargebacks and PayPal in right in blocking this.
People list up offers and people buy them and PlayerAuctions escrow the trade by holding the cash then release the cash when both users confirm and they send the vendor the cash via PayPal.
They also had a way you could buy Wow and Runescape gold etc via Bitcoin as a payment option.
Yes but were they selling Bitcoin for PayPal USD? I get this idea because Bitcoin is still listed on their site as a product not as a funding source. Bitcoin is way more liquid than Wow or Runescape gold etc, hence the massive chargeback risk. This is not 2010 anymore.
Yeah, fair enough.
From looking at the PlayerAuctions site I get the idea that they were selling Bitcoin for PayPal USD not using Bitcoin as a payment source for their other products. If this is indeed the case then PayPal is right here. Accepting PayPal for Bitcoin is just asking for fraud and chargebacks and PayPal in right in blocking this.
People list up offers and people buy them and PlayerAuctions escrow the trade by holding the cash then release the cash when both users confirm and they send the vendor the cash via PayPal.
They also had a way you could buy Wow and Runescape gold etc via Bitcoin as a payment option.
Yes but were they selling Bitcoin for PayPal USD? I get this idea because Bitcoin is still listed on their site as a product not as a funding source. Bitcoin is way more liquid than Wow or Runescape gold etc, hence the massive chargeback risk. This is not 2010 anymore.
From looking at the PlayerAuctions site I get the idea that they were selling Bitcoin for PayPal USD not using Bitcoin as a payment source for their other products. If this is indeed the case then PayPal is right here. Accepting PayPal for Bitcoin is just asking for fraud and chargebacks and PayPal in right in blocking this.
People list up offers and people buy them and PlayerAuctions escrow the trade by holding the cash then release the cash when both users confirm and they send the vendor the cash via PayPal.
They also had a way you could buy Wow and Runescape gold etc via Bitcoin as a payment option.
From looking at the PlayerAuctions site I get the idea that they were selling Bitcoin for PayPal USD not using Bitcoin as a payment source for their other products. If this is indeed the case then PayPal is right here. Accepting PayPal for Bitcoin is just asking for fraud and chargebacks and PayPal is totally right in blocking this.
Bottom line they are doing Bitcoin wrong, that is why the got in trouble with PayPal.
Bottom line they are doing Bitcoin wrong, that is why the got in trouble with PayPal.
PlayerAuctions is pretty awesome, paid me thousands of dollars and never had one problem. Had 1 or 2 guys try scam me by saying they didn't get the items but I always had proof and always got my money in the end.
What is Playerauctions selling?
They sell just about every kind of online game account; from World of Warcraft to Rune-Scape. They sell in game gold, in game armor in game weapons; they sell items and in game currency or other "things" related to online MMORPGs. They sell "time" you can buy EVE online codes that let you pay for another 30/60/90 days.
What is Playerauctions selling?
Just want to add they could add an option to sell your games or in game currency for Bitcoins. I'm sure a lot of gold farmers would be willing to get Bitcoins instead of cash.
Sorry for all the Edits.
Selling in game items/gold or accounts for Bitcoins dose not fall under the money transmitter guidelines. Only trading what they consider "real money" for Bitcoins. Paypal would have no say in the matter.
EDIT # 4 or 5... PA could then go and sell any bitcoins they make from fees on one of the many other Bitcoin exchanges.
Sorry for all the Edits.
Selling in game items/gold or accounts for Bitcoins dose not fall under the money transmitter guidelines. Only trading what they consider "real money" for Bitcoins. Paypal would have no say in the matter.
EDIT # 4 or 5... PA could then go and sell any bitcoins they make from fees on one of the many other Bitcoin exchanges.
Would't PlayerAuctions.com be the money transmitter in this situation? Paypal would have no legal obligation to comply with the law cause PlayerAuctions.com would be the one dealing with customers.
Paypal clearly threatened them. I have a feeling PA hates paypal just as much as we do.
...
Most if not all large corporations are soulless. Stop making assumptions.
Most if not all large corporations are soulless. Stop making assumptions.
Simply saying "meh, PayPal's no different from any other company," no assumptions.
...
That paypal is a soulless corporation that would rip the skin from babies if it could do so legally and make a profit.
That paypal is a soulless corporation that would rip the skin from babies if it could do so legally and make a profit.
As opposed to other corporations, who are nothing but soul and would gladly glue skin onto babies if they could do it illegally & lose money.
Corporations -- 'coz Friendship is Magictm
Most if not all large corporations are soulless. Stop making assumptions.
...
That paypal is a soulless corporation that would rip the skin from babies if it could do so legally and make a profit.
That paypal is a soulless corporation that would rip the skin from babies if it could do so legally and make a profit.
As opposed to other corporations, who are nothing but soul and would gladly glue skin onto babies if they could do it illegally & lose money.
Corporations -- 'coz Friendship is Magictm
Hey guys,
So PlayerAuctions.com is a site where you trade MMORPG items for cash though a marketplace and you put up your offers and PlayerAuctions.com escrows the trade. Then they pay you out via PayPal or MoneyBookers.
So PlayerAuctions.com added a Bitcoin marketplace and it went quite well until one day I noticed the Bitcoin marketplace was gone...
PayPal forced PlayerAuctions.com to remove Bitcoin from their site since in theory you was buying Bitcoin with PayPal and selling Bitcoin with PayPal.
What is your opinion on this.
So PlayerAuctions.com is a site where you trade MMORPG items for cash though a marketplace and you put up your offers and PlayerAuctions.com escrows the trade. Then they pay you out via PayPal or MoneyBookers.
So PlayerAuctions.com added a Bitcoin marketplace and it went quite well until one day I noticed the Bitcoin marketplace was gone...
PayPal forced PlayerAuctions.com to remove Bitcoin from their site since in theory you was buying Bitcoin with PayPal and selling Bitcoin with PayPal.
What is your opinion on this.
That Paypal is a soulless corporation that would skin babies alive if it could do so legally and make a profit.
It would be nice to see a Player-Auctions alternative with Bitcoin as a backbone. I sent them many e-mails talking about Bitcoin back in early 2012; even then they were looking into Bitcoin as a revenue stream.
They should've removed PayPal instead. 
Yes remove their primary source of funding. Smart.
They should've removed PayPal instead.
It's awful, though that's what I expect of PayPal..
Hey guys,
So PlayerAuctions.com is a site where you trade MMORPG items for cash though a marketplace and you put up your offers and PlayerAuctions.com escrows the trade. Then they pay you out via PayPal or MoneyBookers.
So PlayerAuctions.com added a Bitcoin marketplace and it went quite well until one day I noticed the Bitcoin marketplace was gone...
PayPal forced PlayerAuctions.com to remove Bitcoin from their site since in theory you was buying Bitcoin with PayPal and selling Bitcoin with PayPal.
What is your opinion on this.
So PlayerAuctions.com is a site where you trade MMORPG items for cash though a marketplace and you put up your offers and PlayerAuctions.com escrows the trade. Then they pay you out via PayPal or MoneyBookers.
So PlayerAuctions.com added a Bitcoin marketplace and it went quite well until one day I noticed the Bitcoin marketplace was gone...
PayPal forced PlayerAuctions.com to remove Bitcoin from their site since in theory you was buying Bitcoin with PayPal and selling Bitcoin with PayPal.
What is your opinion on this.
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