Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32636. (Read 26630678 times)

I'm pretty impressed by that little bitcoin video. That is very positive news in my opinion. Maybe paypal won't be our great enemy after all.

I'm registered as a business with eBay (I think) and I sold about $30,000 USD worth of Casascius Coins on eBay. When the original voicemail was left for me I think he was looking to gain information on whether or not I would return to selling BTC on eBay if their policies were adjusted to allow it, (hence the incorporating it into ebay as an allowable item to sell). Then when we got on the phone we began discussing how PayPal can eliminate or reduce the liability to the seller regarding Fincen guidelines.

I'm registered as a business with eBay (I think) and I sold about $30,000 USD worth of Casascius Coins on eBay. When the original voicemail was left for me I think he was looking to gain information on whether or not I would return to selling BTC on eBay if their policies were adjusted to allow it, (hence the incorporating it into ebay as an allowable item to sell). Then when we got on the phone we began discussing how PayPal can eliminate or reduce the liability to the seller regarding Fincen guidelines.

When I got the voicemail that was my first concern. I assumed this was a follow up to the locking oft PayPal account and funds being held. I called my friend who introduced me to PayPal in late 2011. I told him that I didn't know if I felt comfortable with making a call like this to discuss a matter that had been settled. He said a call wouldn't hurt.

When I called back Mike was very nice. He stated that I have sold a lot of Bitcoin on eBay and wanted to know my experience with it and was it positive. I told him that it was a very good experience up until the PayPal incident. I let him know that I thought eBay was one of the quickest and easiest methods for people to acquire bitcoin because they already have accounts and funds attached so purchasing was easy an instant and most people don't want to wait when they want something. We laughed about living in a world where everything has to be "right now". He mentioned that they were considering policy changes to allow it to be sold but he stated that "we can't ask our user to register with Fincen" I agreed its too costly. We then discussed that campbx only makes you register your KYC and AML info if it is above $1,000 per day per person so maybe there is a level of sales they could permit without being a MSB? He said that was a good question and believes it may be a $1,000 threshold. Then we spoke about PayPal already being a MSB so when I sell something to someone abroad and they pay in Euros I don't receive Euros I receive USD so why couldn't PayPal convert the currency a user paid with to BTC and transfer me BTC for BTC? If I sold a bitcoin/Casascius coin for $200 and BTC was $100 at the time of payment they convert it and send me 2BTC instead of USD. Or instead of making that complicated since the payment was being made to PayPal who is a MSB and then transferred to me wouldn't that mean only Paypal had to be the MSB? We spoke a little more about it and he said they are just trying to wrap themselves around it and stay out front.

Like I said I would love to have any hero member call today and verify it to be a truthful conversation. It's pretty simple call him up and say "My acquaintance Adam Graham said that you reached out to him regarding Bitcoin and possibly allowing some use of it on eBay and PayPal and he suggested I give you a call, he felt I would be better equipped to handle some of your questions regarding it as I have been involved with bitcoin for quite sometime" and see where the conversation goes.

I think we will see a policy update in the near future allowing virtual currency sales in small amounts that don't violate Fincen guidelines and possibly BTC integrated into the PayPal system. BTC could easily be integrated into PayPal because you would still need a physical currency funding source attached to your account and if a claim was filed against you and they paid you $200 USD worth of BTC at the time of sale they would simply take $200 USD out of your fiat account. It's not that difficult if you think about it. User pays $200 USD PayPal sends $200 BTC, user files claim and wins, PayPal deducts $200 from your fiat account.

So who is going to call and verify I am telling the truth that I received a call regarding this?

Listen, last thing I'm going to say regarding the validity of the phone call. For those who doubt me I am more than willing to have the phone call verified by any trustworthy hero member.

To be honest I was so taken back by the call I didn't even get to ask the questions like, how likely is this, how close are you, etc.