Topic: Recent Events At Bitcoin Market - page 5. (Read 26159 times)

too bad u invited b4rrydoyle..that piece of crap scammed me

I use PayPal and got really unhappy with how BCM went (and I expected it, when BCM stopped being invite only... In fact, I invited ever only one person, and I encouraged others to check #otc web of trust to see if a person was to be invited...)


The reason is simply: It is the ONLY option available on my country.

Here there are no dwolla, no LR, no Pecunix, no Webmoney... It is ONLY paypal. (well, we have Western Union too, but they charge 25% O.o)

Closest thing in the PayPal TOS would be:
"You also agree not to use your PayPal account to sell goods with delivery dates delayed more than 20 days from the date of payment, or to sell securities, business opportunities, franchises or multi-level marketing or goods with delivery delayed more than 20 days from the date of payment. You agree not to impersonate a PayPal User or a PayPal representative, or to request that a PayPal customer provide you with their password or other information to access their account."

But only if you construed it as:
"You also agree not to use your PayPal account to sell securities."

I'm sure that in some strained legal definition, someone could plausibly call BTC a security of sorts.

However, with that said, there is no explicit prohibition on buying electronic currencies so long as they are not illegal (as anything illegal is outlawed elsewhere in the TOS).

I may.  I'm getting a lot of requests for it.

Where is that in their TOS?  It may exist, but I've never seen it.  Have a link handy?

A closed network is much easier to manage.  I can eventually root out the scammers or whoever is inviting them.  Otherwise they just keep making new accounts.

When it's all said and done I may re-list it, but I will rewrite the email contracts and make it VERY clear about the risk involved AND that BCM can not be liable for any loss.

I'll chime in here and add that I was burnt by user 5810 to the tune of ~$550 USD.  Two separate transactions and paypal closed one case almost immediately despite the initial notification stating that I had 7 days to respond.  There was no explanation or note of any kind in the case.

I'm a long time member of paypal in good standing, not that I *really* expected them to take that into account.

The second case is still open and I posted any/all supporting evidence, such that I had.  If I do get any serious response I'll update here.

What is the most viable option going forward?

I'll just echo digdugg67 and say that BMBTC/PPUSD helped to acquire a good starting position in BTC faster than any other possible method. I would love to see it reinstated but understand the issue. I'm now getting accounts online with LR, MB, DW, etc. but PP was very easy, fluid and successful.

A tip I'll share regarding PayPal payments - if you have a Discover card, your account may have been activated for Discover Money Messenger. Essentially Discover is using PayPal as a backend for cardholders to send personal payments from the Discover Card. There are two benefits (and perhaps a third):
1) There are no fees charged to either the sender or receiver of the money. The receiver just gets it in their PayPal account like any other payment with a note about it being from Discover.
2) You get cashback on the money you send at up to 1% depending on your cashback level.

possibly

3) I don't know if this would work but you may have another layer of chargeback capability at the credit card level in the event you pay but are never confirmed. I think PayPal has no love for either buyers or sellers of an alternative electronic currency that really threatens their business model. Discover, on the other hand, probably cares a little less so long as you make your payments and interest on the cash transaction you buy BTC with.

One drawback I should note is daily/monthly limits on the service. I've heard of limits of $200/$200 up to $400/$5000. If you buy a lot of BTC you could reach your limit quickly.

As always, YMMV.

FailPal has never worked with digital currencies which is why nobody in their right mind accepts it for webmoney/liberty reserve even in closed trading networks. As soon as you mention you are currency trading with paypal you violate TOS and they can seize all funds

Your account will eventually be limited, or a nigerian will phish an account from a senior but clueless trader and scam you all while logged into their account like they do to countless powersellers on ebay every day. You can reverse transactions up to 180days later i wouldn't trust paypal if i was selling $5 CDs.

Never understood why bitcoin users use paypal when the entire e-currency world of Pecunix/LR/Webmoney/HDmoney/GDP/Cgold/EGold hasn't touched Paypal for trading since the 1990s heyday of scamming.

Can anybody here speak french? I'm trying to track down a scammer, so I figured out contacting the ISP of the IPs he logged in with would be a good idea. But they're french and my french isn't very good; I'm having trouble just navigating around the ISPs' homepages. So if anybody would be kind to help my writing a message to the french ISP, I'd be very thankful. And if i get my money back, you might even get a bitcoin or two as reward  

Edit: I know he might be using proxies or just using unprotected wifi of other people, but who know? Maybe he isn't...

dwdollar, any plans to implement a Dwolla funding option?

This makes the most sense as Paypal has had nothing but stories of frozen and locked accounts with anything Bitcoin related. They're as much of a competitor to Bitcoin as Blockbuster was when Netflix came out...out with the dinosaurs, in with the new.

I'm getting the impression that PayPal is intentionally trying to shake any connection between itself and Bitcoin.  That is, they WANT to burn people and discredit Bitcoin to new eyeballs.

I for one was glad that you had paypal as an option. It made it very convenient to purchase my first bit coins. I hope that it does indeed come back or that we can find an alternative to paypal if need be.

Thanks!

For reference, PayPal closed my cases in the buyer's favor before enough time had passed for anyone to even look at the evidence I provided. I will be surprised if even one of the people scammed recovers his money through the PayPal dispute process.

I'd like to apologize to anyone who was 'burnt' by the recent events.  Especially to older members who may have struggled to get an invitation.  Open registration was a bad mistake.

I've told some inquiries BMBTC/PPUSD will be re-listed once all trades are confirmed and scammers are purged.  This may be true.  If PayPal does not take the proper side on many of these cases I am officially done with them.

Bitcoin will flourish with or without PayPal.