Bitcoin Forum

eBay UK to Allow Sale of Virtual Currency from 10th February (http://bullandbearmarkets.blogspot.pt/)

Blog - Bull And Bear Markets (http://bullandbearmarkets.blogspot.pt/)

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eBay is launching a dedicated Virtual Currency category on eBay Classifieds in the UK on 10th February.

The Classified Ads category will allow for the sale of all types of digital currency, including bitcoin and litecoin, eBay representatives have confirmed.

eBay Classifieds, which lists posts throughout the site, serves as the site’s answer to Craigslist. eBay provides the free platform for local buyers and sellers to connect, but does not participate in the transactions

Yeah, it's been mentioned here multiple times. What they need to work on though is a safe way to pay for it especially with Paypal as they still suffer greatly from chargeback fraud.

 
Hello Hilario!
And because there is fraud?

Yes, people buy the coins on ebay via paypal and then claim they never received it or their account was hacked etc and they get their money back and keep the coins.

That's theft, fraud?
How is it possible?

It's theft and fraud. And it's possible because PP doesn't check into these things, they just automatically side with the buyer and refund the money.

Thanks for your replies Hilario

So they can make a regular bid? Do people know where to go for the classified ads?

There is no bidding, this is simply an alternative to a gumtree / craiglist style listing where the actual transaction will take place outside ebay

Do you reckon this will be a visible way for traders to sell btc?

DO you reckon it will affect the price of btc much?

"eBay Classifieds, which lists posts throughout the site, serves as the site’s answer to Craigslist. eBay provides the free platform for local buyers and sellers to connect, but does not participate in the transactions."

And about the bitcoin price , that will probably not even move 0.1%.

Yeah I suppose compared to other events it isn't that significant!

As a buyer you still have the sellers Feedback score to go on with the Classified ads though - that has to be a big bonus.

That has to be a big bonus!

They'r still going to take the 10% fee though right?

Price will probably be higher there but I doubt sellers will get more from their btc.

Yes -agreed. But purely in terms of the newbie buying BTC (and probably small amounts at that) it can't be so bad.

I'll tell you what though - if someone came up with an auction site where the transactions were funded purely through BTC - well, you could be on to a winner I'd say (medium to long term).
    I reckon I'm gonna go on Dragons Den. I'd call the site "The Market" - what do you think ?

It's not really the buyers that need to be worried but the sellers. Buyers should still be covered by paypal if anything goes wrong.

Yes - I see what you mean h.

Maybe check the buyers feedback prior to release of BTC - and don't accept paypal.

Sellers being ripped off still happens for eg on Localbitcoins - recently a seller told me they had lost £1300 thru buyers that were using someone elses bank account.

I don't understand why did they lose anything . Wires are almost impossible to be cancelled.

Might've just been a straight bank transfer. It's a double edged sword though, because if you use another payment option it might be easier for them to scam you ie not sending the Bitcoins after you've sent the money.

Somehow, paypal needs to understand bitcoin and unchargeback victims of scammers.

They shouldn't send any money back unless there's a crime reported. Similar how insurers wont pay out without a crime reference number.

Thats some good news to hear!

I think that this payment's way is not safe.

Of course it's not safe but lot's of people are doing it and then turn enraged to paypal.
At the moment of which paypal shows them the TOS to which they agreed but they didn't bother to read.
Just like they didn't bother to read all the previous advices people gave them.

Haha, maybe he means it's not safe for the buyers to commit fraud? I don't think they care and they seem willing to take that risk. Ebay/PP will never be safe to sell Bitcoins unless they change their rules. The blockchain is proof that someone sent and received their coins, so they need to work on problems on their end.

Cool, anybody got scammed?

this is so cool news.

With the reversible paypal I would be sceptical of selling on ebay!