Bitcoin Forum

why are there so many scammers when it comes to bitcoins and paypal, I am a legitimate seller but i have been ripped off by paypal users claiming chargebacks anyway to win a case with this

anyone ??

It is way too easy to reverse the transaction with PayPal while impossible with bitcoin. Doing these kind of trades is just asking to be scammed.

I feel sorry for the people who aren't scammers that use this method.

I no same here as i had a legit person i dealt with before. But i dont want to use this method again so i lost a customer  :-[

I just have charge backs on my account and funds are held in like 3 different transactions. So its messed up one of my methods, plus i sent the coins already so am totally screwed  :'(

Paypal always protect the buyer in chargeback case especially for intangible goods. It is quite unfair for the merchants.

Why not use escrow service for trade ?

Escrow doesn't really help as the person sending the PayPal can file a claim long after the transaction took place. It just wouldn't be practical.

he's right

Anyway, I think paypal does not allow for such bitcoin exchange transactions as per their terms?

How can I buy with paypal? I Would like to buy with Paypal.

This is correct.


Good luck finding anyone. If you do they will probably have high fees to recoup chargebacks.

everyone who was selling and accepting paypal was scamed, so there is none left i guess

What ever happened to Paypal's 'Buyer Protection Service'?

I thought that the buyer protection didn't cover intangible goods & services???

Unfortunately paypay has always been against anything which makes it worth using.  I remember that currency exchange was always against their ToS and if a buyer initiated a chargeback, there's nothing you can do as a seller.  I'm happy bitcoin exists and that these problems will fade out over time.  I mean it all comes down to trust in the end, and you might still have to use escrow, but it's still better in the end

Is there a time limit on how long you have before a chargeback could not be done? If so, you should specifically state that you will not send the coins until that time has passed and do just that.

Why are there scammers?

1. Free money
2. see 1.

As a buyer, why should I trust any seller who does that?

Chargebacks can occur months after a transaction. So if someone pays by Paypal, they haven't really 'paid' anything until months have passed and the chance of a chargeback lessens over time.

bitcoin - non-reversible
paypal - reversible

Do you see the problem?

im in the same boat but lucky for me paypal cant get fuck all out of my bank accounts XD they want to go to court over it i will and ill hammer the shit out of them with 100s of people in the same boat... ill make banks paying back ppi look like loose change.. iv sold for years on ebay and thought id give selling bitcoins a go, regretted it a month later when i lost my first battle... since then iv stopped using paypal and ebay for almost anything theres 1 company i use paypal for and thats it everything else goes through bank transfers now

if Anonymous ever attack paypal again im going to be there with them..

in the mean time thanks to paypal my accounts £121 in the red and there not getting a fucking penny back XD

lesson learned: bitcoin and paypal don't mix well.

they say banks are the worst people on earth but i disagree its paypal and anyone working for paypal should be shot... i hate paypal i hate anything to do with paypal and if i ever find a scammer in person they will be buried alive...

You'd lose.
What you did was against Paypal's terms and conditions, which you agreed to.
What they did was allowed by Paypal's terms and conditions, which you agreed to.

selling of digital products is allowed on ebay and not against there rules... but its only recently America has admitted bitcoin is a digital currency.. the way i see bitcoin is like Microsoft points for the xbox, which would comply with there rules or other digital product codes.

Paypal sent debt collectors after me just for being £25 in the red.

Also lost money thanks to payment reversals from hacked ebay accounts buying my LTC/Steam codes. All in all had a pretty shitty experience with Fleabay, hope sites like Bitmit/Coingig become more popular.

That costs them nothing.
They sell your debt to an other company for 50% of the price if  the other company can get the money from you

theyll have a hell of a fight if they want any money back after all how the hell is it the sellers faulty if people are to stupid to use secure passwords...

Selling of Bitcoin or Bitcoin related items is not allowed using Paypal.

It should be about 60 or 90 days if I remember correctly.

180 days actually

This is why most people when dealing with paypal for Bitcoin will request a escrow which would contain the money in there for 180 days. However, most people tend not to go for this because it's a very long wait. Therefore, many people tend to deal with reputable members or exchanges. Even then there is a chance that you could get scammed. Don't trust someone because of past experience & rating. Just take that has a indicate and judge for yourself.

the answer is really easy: greed.

You'd very quickly lose because you were using the service for something they do not allow.  PP is a risk, some people use it, but you have to do so very cautiously...  For most, the rewards is not worth the hassle of selling on PP.

If you happen to have a lawyer on retainer or an annual account (I do, where I pay a flat fee regardless of how much I use the legal firm), just have them send a letter.  It's not worth most debt collections agencies' time to go after 25 bucks.  half.com (a part of ebay) came after me for about $150 USD that they claim I owed them.  It was a glitch in their system, but after my lawyer sent them a request for proof of debt and notice of representation, they immediately dropped it.  The risk of them screwing up (for example, if they contacted me through email and not through my lawyer, it could cost them $1000 per email since that's harassment when I've obtained legal representation), and the cost it would take to research and produce the documents and then later fight my lawyer on it is just not worth it to them.

Well i don't think they can get anything from my bank. I will make sure its empty lol. £121 in the red mine £467 lol stupid scammers and paypal are flippin nobs. :@ i have had that account for like 8 years aswell pretty pissed of actually but am not paying that. The scammers or who ever got there coins happily and left me fucked over with charge backs

iv just stopped all DD to Paypal and got a new card... i also know people who work in the HMRC who are going to cause Paypal and ebay trouble.. They dont pay as much Tax as they should so they want to play hard ball ill drop them in it they can get £121 off me but ill happily make sure someone takes Millions off them..

i also sent an email to them requesting them to contact me on the issue of the over drawn funds and iv heard nothing back, so the balls in there park they come after me i have proof i have asked them to help resolve the problem.. and as i keep saying how the hell is it the sellers responsibility to keep buyers account safe?? most banks know this and have 2 step authentication if paypal want to risk peoples money by having an obsolete system then thats there fault.

but after all this its American so you really cant expect much...
also im not racist (well unless your American)

The answer is simple. Hacked Paypal accounts. There is whole world of hackers waiting to buy btc with stolen paypal passwords. Finally the original owner of Paypal account knows about being hacked and asking for a chargeback while the hacker gets bitcoins which is not reversible transaction. This is why you loose.

the answer is very simple : do not accept paypal when you sell bitcoins... it is too risky