Topic: Selling Bitcoins on eBay analysis - page 2. (Read 8110 times)

I made a ton selling coins on eBay, and got the money for them as well.

What I did was say "NO REFUNDS WHATSOEVER" in the description and in the Paypal info, and said the user needed to put their wallet address in the paypal comments.  I also stated that there would be no refunds in any case, and there will be video proof of the transaction taking place, to prove the coins were sent to the address in the paypal checkout.  I sold like thousands of dollars worth of coins, listed at $20-25+ each (back in july 2011) and scammers would buy them up like $500 at a time. 

The scammers would do a reversal on the transaction in a systematic fashion, and since I used Freez Screen Video Capture to make videos of myself transferring the coins to the person's wallet that they entered in the paypal reciept (which was open and evident in the video), it served as solid proof.  Paypal returned 100% of the money to me, with the exception of one small transaction where the person did a reversal on their credit card.. Paypal couldn't help that.

When you do a transaction dispute, and they look at the video, there is no denying it. 

I paid for ALL my mining equipment with the coins that I sold to would-be scammers on eBay last summer!

eBay has since changed its policies quite a bit, I don't think it's safe to sell coins there anymore unless they were casascius, a "bitcoin cheque", or a private key on a piece of paper that you can physically mail to them and get a tracking number, since that is allowed.

This was what I wasn't sure about, but still wanted to confirm it myself. I've talked to a lot of sellers selling 2x the price who were getting scammed. But again I don't think it's really farfetched to find 1 guy who trusts eBay seller feedback who wants to pay with PayPal to buy a few BTC. Of course there are a lot more BTC sellers competing for fewer buyers.

Its all scammers. In no world would someone pay 2x the price of BTC just because of the ease of Paypal.

That's a definite possibility if the owner of the hacked PayPal account doesn't notice until 45 days later. However do you know if it was the actual eBay buyer who chargebacked or was it hacked? Because there are so many eBay sellers who claim every single person from 0 to 1000 feedback is a scammer, and I don't believe that.

CoinPal was able to get their fraud rate under 1% before they were closed by PayPal and that was random strangers with no eBay feedback.


You're not posting anything I don't already know. As far as I can tell, I'm the only one following eBay and PayPal rules other than Casacius of course. The point of doing this isn't to see whether there are scammers on eBay. We already know there are. The point is to see whether buyers with decent feedback are tempted to chargeback BTC after getting them.

You'll likely see that account get suspended doing this.

 - https://bitcointalksearch.org/topic/scammed-when-selling-bitcoins-on-ebay-67137
 - https://bitcointalksearch.org/topic/m.931307

ebay has been a target for scammers for a long long time. don't be stunned if they want your btcs.

None of my charge backs came until the 45-60 day range once started it was like a 50% rate overall.

I started selling bitcoins on eBay to answer 2 questions.

1. Are people really raking in super profits selling at 2x the market price or is it all scammers?
2. Do eBay accounts with 20+ feedback actually scam 1 BTC ($5 value at the time) or eBay sellers just being scammed by hacked accounts?

I'm a eBay seller 400+ feedback and another 200+ feedback on a different site selling digital goods.

To sum it all up:

In the span of 20 days, I've only sold 3 BTC at a very modest 40% over market price to 1 bidder. Bidder had 100 feedback and verified by phone call and email.

I've had 10 auctions end with a high bidder. 7 auction winners had immediate red flags so I refunded those payments after a few days and requested eBay credit the fees.
Pro tip: Refund fraudulent payments before the real owner files a chargeback.

I'm not the seller here, but this is what you have to deal with.
http://www.ebay.com/itm/41-Bitcoin-electronically-delivered-to-your-wallet-/251083541590?pt=LH_DefaultDomain_0&hash=item3a75becc56

0 BTC lost so far. (Probably jinxed myself with this statement. haha)

There may be others out there with better luck but these are my results.