Bitcoin Forum

Someone please help, I just found out my paypal account has been disband because I was selling miners on ebay. This is complete bs because i shipped everything and got good feedback on all my transactions! now Paypal is holding close to 6k of my money and won't release it for 180 days!!! wtf??? is there anything I can do to fight this?
This is the email they sent me.
For the safety and security of the PayPal network, we often review accounts for potential risks. After reviewing your account, we have decided to close it because of security issues.
We are making every effort to minimize any disruption to your business.
If your PayPal account balance is zero, and you have no unresolved buyer complaints or chargebacks, your account will remain limited.
Disbursement options
Option 1. If you owe refunds to any of your buyers, you can use the money in your PayPal account to refund them.
To refund your buyers: 1. Log in to your PayPal account. 2. Click "Contact Us" at the bottom of any page. 3. Click "Contact Customer Service." 4. Under "Choose a Topic," select "Sending/Receiving Money." 5. Under "Choose a Subtopic," select "Refund/Cancel a Payment." 6. Click "Continue" and follow the instructions to refund payments.
Option 2. Money in your PayPal account will be held for 180 days. After 180 days, we'll email you information on how to receive your funds.
We regret any inconvenience this may cause.
Thanks,
PayPal

If anyone has this happened to them, can you pm me and tell me if you were able to get your fund back?

Does that really surprise you after all those things that happened in the past?

Paypal is one of the worst entities on this earth, this only furthers my confirmation that cryptographic currencies are needed. You have no idea how many people on ebay have actually delved into my bank account from paypal.

paypal sucks

Well, I hate to say it, but there was a very good possibility that this was going to happen going into this.

Urgh paypal sucks so much. I hope btc gets big enough to knock them off their perch.

That sucks, never know paypal have so many restriction. What if I buy/sell BTC using paypal?

They can't find out that you bought/sold anything, because there is just a sender and a receiver (when you are doing it right).
Example: You want to buy btc. You send an amount of money to the person you want to get btc from. This person sends you btc in exchange.
So the only thing that paypal knows in this case is that you sent an amount of money to someone. But they have no idea why.

Paypal is useful for now but I'm hoping we'll see another alternative possibly Bitcoin related gain ground soon.

This thread is exactly why we need Bitcoin  :)

I wonder why he didn't sell his miners on Bitmit ^^

Selling Bitcoin Miners for FIAT... OP  ::)

Selling ANYTHING for FIAT...  ::)

I lost over 5k USD to gaypal, I am so glad after that crap with them for 6 months I found bitcoin, end of story, the fact that you still trust them to use their services baffles me.

Paypal can only see what u are buying on ebay. Are those equipment for miners or anything else. So if you bought some equipment they start ro suspect in you, and then they watch your acc what amount of money you recive or send .

Seems if noone chargeback in the next 180 days, you will be able to withdraw your remaining funds.

I recommend wait 180 days, withdraw your remaining funds and never use paypal anymore

Just hope no one does a charge back on you, if they do they will prob automatically win.

I also learned that hard way about selling BTC/LTC related items on eBay. Lost almost $2k from scammers. PayPal has ZERO sympathy for BTC/LTC dealers of any kind. Seller Beware!

The buyer will claim they never got the bitcoins and reverse the transaction.  Then they'll have their fiat and your bitcoins, and you'll have nothing.

yes its already described many time here on many threads some scammers doing tricks like these so paypal has no sympathy with bitcoins community becareful about this  :(

paypal doesnt have simpathy to BTC cuz BTC is competion to them

If only people read terms of services before signing up, they would not sign up because they may fear their money might be confiscated at paypal will

Which will make it all the more sweet when they can't compete with bitcoins...

Only use paypal between your creditcard and shop receiving funds. Is my take.

I have heard the same story many times. No point letting them to hold your funds on their account.

I think they will adopt BTC as regular currency

if they want to alive for long time they must do this and have some sympathy for bitcoins

They won't because the us government will tell them not to do it. Just like when they stopped accepting donations for wikileaks.

Don't use paypal.  Even their direct competitors (which also suck) are better.

Which direct competitors?

Who holds that amount with company who is known for freezing accounts for no reaon?

I'm selling on ebay as well, using paypal everyday but let me tell u buddy, never on my account is more than 0.00
Once funds are in paypal i always withdraw whole amount.

I learned lesson when they froze my account.
Sorry to hear you are victim of paypal but ypu cant do anything.

It might be not even you, but someone linked to one of your deals.

Moneybookers (Skrill), Netteller off the top of my head.

Sorry but this is not better competition.

Both are not happy when u dealing with BTC

Actually I would worry much more about the funds than the account.

Wrong, TOS are bullshit and should be regulamented by law, since you can't possibly read all of them, your time should be more precious than that.
If I walk into a shop I do not have to sign anything to buy there.

Never heard of this. Why they sending sometimes newsletter offers with 1st time signup at casino and poker then ?

This is a very good practice, I fail to see how could someone trust them with such a huge amount (unless he actually got the 6k in one single transaction).

Even if that's the case one time payment was for 6k who the hell would use paypal for that? fee is 2.9% from amount which is 174usd.

What a bollocks. Plus the fact they can delay process withdraw but i think this is not the case as the guy is not newbie. I hope!

I don't know how to help you here, but I've quit using paypal awhile ago because they were always locking my account.

Let's hope crypto takes over and becomes semi mainstream soon. Paypal are total shit, withdraw all funds and spread the horror ( real) stories around the net for all to witness.

I know plenty of people that have been screwed over by them. They will release your funds in 6 months but by that time any business you had is screwed.

I tried to withdraw the money the money I had fund, but paypal reversed my transaction so the money never got deposited into my bank account.
I guess it was my fault, I should have withdrew all the money the moment it went into my paypal, but I waited until every transaction/all the items I were selling to be finished to withdraw the money. I made a request for a full withdraw, but the very next day, paypal froze my account and reversed the transaction.

That sucks, I will never use paypal for any Bitcoin related transaction then. Thanks for sharing....

Man, same thing happened to me 3 days ago, it was the first miner I tried to sell and I was so happy because it sold for a ridiculous price, good thing the buyer paid with eCheck and didn't clear before gaypal limited my account so I was able to cancel the transaction, otherwise I would've had to wait 180 days. ebay would be so much better off without Paypal. What's going on with Bitmit? can items still get listed there? or until they sell the company?

If Satoshi revealed himself and stated that he created Bitcoin for the sole purpose of replacing Paypal, it would not surprise me.

I believe the buyer reported you to paypal, because they won't even bother checking it...

You are wrong, Ebay and Paypal works together, cuz 80% of profit comes from ebay i belive

Because people on Bitmit knew real value of those miners (if we talk about erupters)

Serves him right I guess.

maybe he didnt know about bitmit

lool bitmit sold, i didnt know that

Paypal doesn't deserve anyones business.

Why not? They just hate Bitcoin but not anything else...

They're trying to stop the spread of their successor.

Sorry for your loss, I believe even after you wait 180 days you still won't get your money....

I belive that too, i doubt you will get your money

If eBay runs by the same TOS or works with PP, then you're probably fucked. eBay hates mining and BTC, and anything they see involved with BTC on their site most of the times gets banned and shut down. That's just what I've heard from stories around the site, you'd have to check for yourself to make sure. Try calling PP or eBay and asking, that's probably the only way you'd ever get your money back. PP runs on a case by case basis a lot of the time, so if you get the right person you could have a chance at getting your money back. You'll probably be directed to a manager for that amount of money though, GL.

PP and Ebay works together, I said that in earlier post on this topic. PP gets most profit from ebay transactions

I just got the same letter.  Did you ever get your money back?

Maybe.  But sadly, I think paypal stated somewhere on the terms that if you were to be involved in cryptocurrency trading, your account would be in trouble.

PayPal has gotten out of control lately in regards to crypto.  They are holding several thousand dollars of my partners money for 6 months because he did a paypal trade on local bitcoins.   

Hello Dear,
I know it too late but i need your help here.

I go the same issue with Paypal.
They didn't inform me anything about the security issue and the reason why they block my account?
I just wonder to know, have you got the payment after 180 days? As they didn't inform anything about what will they do after 180 days hold. What would be the payment process? They will need anything else or what?
The policy is not clear. So my friend i need you to share your experience.
Thanks in advance.