Bitcoin Forum

There doesn't seem to be very many places that offer you PayPal Funds for BTC, so i'll go ahead and offer it.

The current rate is 1BTC/85% Of the Current MtGox Rate (If you give me 1BTC and the current MtGox rate is $10/BTC, you get $8.50)

All payments will be sent from my verified PayPal account as gift (So I cannot chargeback)

The maximum I can offer at the moment is up to 10BTC however as more people buy, that will go up.

If your intrested, please post below or send me a PM and we can arrange something.

Just FYI

Paypal can and will charge back gifts - verified or not.  Just ask any of these guys:
https://bitcointalk.org/index.php?topic=83679.msg1084399#msg1084399

Also if paypal sees an account receive too many gift payments without fees it will be flagged.

$8 huh?

So only 25.9% commission.  Customer gives you irreversible BTC, you give them risk prone PayPal and charge 25.9% for the service?

Just making sure I got this right. :)

Thank you for the feedback, obviously my initial assessment was too high and I'll lower the commission to reflect this and introduce a flat percentage of 15% commission per a transaction to keep up with MtGox fluctuations.

Obviously there is risk involved, however this is reduced by sending the payment as gift as it can only be charged back by filing an Unauthorised Payment claim, which would require me to fake an entire identity for the transaction and that would just wreck my reputation.

yes, even though paypal doesn't have a problem with accounts used for cashing out bitcoins, they do have a problem with those payments being sent as "personal, gift" transaction as paypal gets no fees for that.   the sender probably needs to get into the thousands of dollars per month range before paypal says anything though.  but that volume is easy to reach too.

even with it being gift, that doesn't mean the funds aren't from a compromised bank account or something like that.  the #bitcoin-otc web of trust can help to lessen the risk of getting ripped off: http://bitcoin-otc.com/viewratings.php

Hi,

As much as I appreciate your contribution to the thread and feedback you are providing, I would appreciate if you could keep the suggestion of alternatives to a low, I am just trying to earn a profit.

The funds are not from a hacked bank account either, the PayPal account is in my name, the bank account and credit card on the account are in my name and as I mentioned earlier, my account is verified and already has the funds in there, prepared for any transactions anybody wishes to make.

Just bringing attention to https://bitcointalk.org/index.php?topic=14632.0

And this thread for an example of a legit person who got screwed by PayPal: https://bitcointalk.org/index.php?topic=83679.0
Seriously, don't do this often unless you have a business account like TangibleCrpytography and spendbitcoins.com .

PayPal would have no reason to limit my account (even if I'm sending a lot of gifts) and when they do, all I would have to provide is identification documents, all of which I have to hand.

I would clarify that neither TangibleCryptogrphy nor SepndBitcoins sends payments as a gift.   Neither does Bit-Instant (technically they use a partner to send PayPal payouts, but that partner doesn't send them as gifts).   It is a recipe for failure.  Someone can get away with it for a small amount of transactions but eventually it is going to hit PayPal fraud screen.

Has anyone (outside of fraudulently marking Bitcoins sales as gifts) ever known someone who got even 5 "gifts" from 5 different PayPal users all over the country in the same month?  How about 20?  How about 20 a month every month for 3 or 4 months in a row?   That is what the fraud system is wondering too "hey beep beep beep that is weird".

Of course they will.  You are (from their point of view) stealing.  You are using their payment system for free for transactions which don't qualify as free.   If when they catch you they will freeze your account and reverse all those gifts back making your customers accounts negative.

I'm positive that is the process for all US accounts, however accounts in the UK are treated under less-strict conditions because US accounts have to abide by the US's strict anti-fraud policy's (where as the UK doesn't have such strict policy's).

I have sent "gifts" in excess of $50 straight after each other and nothing has been done to my account.

I don't think anyone selling bitcoins for paypal will pay a premium, normally it is the other way around.

I'm happy if someone takes my pp money at 85% btc rate, so I don't think you will have many customers ;)

I was kind of aiming for a "quick exchange" sort of scenario.

Kinda like getting some fast cash for bitcoins?

sorry, your prices are not at all competitive. https://www.spendbitcoins.com/ they charge no fees, except for the paypal fee.

Indeed.

I never claimed they were competitive, if you would be so kind as to not trash my thread with other exchangers either please, I don't trash any of your threads so don't do it to mine please.

I don't see how I'm "trashing" your thread if everything I say is true and substantiated.

Also, https://bitcointalk.org/index.php?topic=76663.0.

Well you are providing visitors to this thread an alternative, therefor trying to disrupt my sales.

And yes OP, DaT was born an ass clown, its nothing new :)

Oh well, DaT has a point there...the commission is usually charged the other way round (PP to BTC) , not in this way (BTC to PP) as the risk of accepting PP funds commands the premium.

Australia ONLY now on spendbitcoins.com

sucks. site looks really good

http://bitcoinary.com it is then. have to trust individuals

and why shouldn't this be allowed? I thought this was free market was all about choices. Your logic makes me laugh.

There is also Tangible Cryptography's FastCash4Bitcoin (https://fastcash4bitcoins.com) service.  We are currently out of PayPal funds but expect more funds tonight or tomorrow.  That was the tongue in cheek comment I was making upthread but I don't think the OP got it.

Please dont trash my thread with your own services.

I honestly don't believe it would be possible for our company's service to trash your thread.  If anything the backlink probably boosted the search engine results of the thread.  I will leave though, I just didn't want any clueless noobs to think a 15% vig from someone without any rep was standard practice around here.  There are plenty of better options.

Best of luck!

Thank you, I appreciate your kindness.

Lil bump.

This is going to end bad, one way or the other.

Why do you say that?

It will end bad if OP is a chargeback scammer and it will end bad if he isn't and Paypal decides to reverse all the transactions.

It always ends bad. And you know that, BCB.

In an attempt to prove my legitimacy, Here are screenshots of all my account history involving sending funds (120 transactions) and all disputes i've ever opened.

Transactions (Receivers name blocked for privacy)

http://puu.sh/R4CL
http://puu.sh/R4CO
http://puu.sh/R4CT
http://puu.sh/R4CY
http://puu.sh/R4D0
http://puu.sh/R4D5

All disputes opened

http://puu.sh/R4Hu
(First one, I lent money to and he didn't pay me back - Sent as gift hence unauthorised claim)
(Second one, Sold me something and it wasn't what I thought it was - Sent as gift hence unauthorised claim)
(Third one, refused me a refund)
(Forth, fifth and sixth ones, Horrible virtual machines and refused to refund me)

Is your Paypal account verified?

LMAO

Yes.

BCB won't care about these

It was mostly for the benefit of him and everybody else.

Of course you haven't done any chargebacks! All transactions (okay, except maybe 1-2) are under $30! You're probably just waiting for the big fish to use your disputes on.

And besides, probably <2% of those are bitcoin related, which is the only thing that matters. We don't care if you disputed your ebay purchase/sale or not. Bitcoins have no tracking number. No proof of delivery.

And if you try and say all of those transactions are bitcoin related...then that right there is a good reason to stay away! Proof you've already gotten away with hundreds of transactions proves you've been in biz longer than you should, and your luck is about to run out!

Sorry but I beg to differ, there are multiple transactions there over $30, The transactions are in small amounts because I buy things relatively cheap often.

I also beg to differ on the proof of delivery front too, there are transaction logs proving where bitcoins have been sent/received, I also fail to see how I'm "getting away" with transactions as they are all legitimate, around 30% are gifts and the others are for goods/services. I fail to believe its just "luck" that is keeping my account in good standing because it's automatic fraud detection that does all the work, and that's very low on UK Accounts.

give them some time (months) and at least 200 more posts and no scams and you'll begin to be trusted