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Title: Ebay/paypal/miners fees.. Post by: redwoods on December 03, 2013, 11:25:21 AM Is it fine to sell BTC on ebay ? This guy got a hell of a good price for 0.5BTC
http://www.ebay.co.uk/itm/291027673039?_trksid=p2055119.m1438.l2649&ssPageName=STRK%3AMEBIDX%3AIT he asks for payment through paypal....am I right in thinking its not a good idea to recieve payment through paypal for selling BTC ? as the buyer can easily dispute the sending of the transaction and therefore get a refund and keep his BTC ? Also if you do sell some BTC do you need to donate a miners fee to speed up the transaction ? this video suggests if you dont put in a miners fee the transaction can take days!! https://www.youtube.com/watch?v=c9TitxtxNZ4 I can imagine if you'd just bought some BTC and you didnt recieve it within an hour or so you be getting pretty uptight! Title: Re: Ebay/paypal/miners fees.. Post by: jones31 on December 03, 2013, 11:27:13 AM Is it fine to sell BTC on ebay ? This guy got a hell of a good price for 0.5BTC http://www.ebay.co.uk/itm/291027673039?_trksid=p2055119.m1438.l2649&ssPageName=STRK%3AMEBIDX%3AIT he asks for payment through paypal....am I right in thinking its not a good idea to recieve payment through paypal for selling BTC ? as the buyer can easily dispute the sending of the transaction and therefore get a refund and keep his BTC ? Also if you do sell some BTC do you need to donate a miners fee to speed up the transaction ? this video suggests if you dont put in a miners fee the transaction can take days!! https://www.youtube.com/watch?v=c9TitxtxNZ4 I can imagine if you'd just bought some BTC and you didnt recieve it within an hour or so you be getting pretty uptight! https://bitcointalk.org/index.php?topic=14632.0 Money sent through PayPal and any other money transfer service that accepts credit cards can be easily reversed by the sender, even after several weeks. Therefore, you should only accept PayPal in trades with people you trust very highly. This is why newbies are not likely to sell their PayPal USD for bitcoins successfully. Some other services that are not totally safe: - Bank transfers (ACH, etc.) except wire transfers - Most gift cards. - Moneypak - AlertPay - Paysafecards - Dwolla - Western Union (they reportedly will sue the recipient to recover money in some cases) Title: Re: Ebay/paypal/miners fees.. Post by: sweetNlow on December 03, 2013, 11:34:26 AM It is VERY risky for the seller to accept paypal or any form of payment that is reversible. The mining fee is very minuscule compared to the ebay and paypal fees the seller gets charged. So in my opinion, not worth it to sell on ebay... :-\
Title: Re: Ebay/paypal/miners fees.. Post by: vabtcinvestor on December 03, 2013, 11:43:25 AM I think it's also against the PayPal T&Cs to sell virtual currencies.
You should definitely stick to cash, wire transfers or other irreversible payment methods for people you don't know.. Title: Re: Ebay/paypal/miners fees.. Post by: donkey321 on December 03, 2013, 11:59:50 AM But is a wire transfer not reversible in any country?
Title: Re: Ebay/paypal/miners fees.. Post by: jones31 on December 03, 2013, 12:01:52 PM But is a wire transfer not reversible in any country? 0.01% to do a reverse on a money wire in most of countries I know.Title: Re: Ebay/paypal/miners fees.. Post by: niothor on December 03, 2013, 01:01:03 PM It is VERY risky for the seller to accept paypal or any form of payment that is reversible. The mining fee is very minuscule compared to the ebay and paypal fees the seller gets charged. So in my opinion, not worth it to sell on ebay... :-\ What has to do the mining fee with the paypal fees? Title: Re: Ebay/paypal/miners fees.. Post by: sweetNlow on December 03, 2013, 01:16:47 PM It is VERY risky for the seller to accept paypal or any form of payment that is reversible. The mining fee is very minuscule compared to the ebay and paypal fees the seller gets charged. So in my opinion, not worth it to sell on ebay... :-\ What has to do the mining fee with the paypal fees? Just stating that the seller has to pay the ebay/paypal fees and the mining fee. OP asked if its fine to sell BTC on ebay, I gave him my opinion and why. ;) Title: Re: Ebay/paypal/miners fees.. Post by: honky1492 on December 03, 2013, 01:22:47 PM But is a wire transfer not reversible in any country? 0.01% to do a reverse on a money wire in most of countries I know.Bank wire transfer has very small chance of being reversed, I guess court order is necessary here for this to happen. |