Bitcoin Forum

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I just had this idea the other day! You beat me to it. It's a good idea but they are very expensive. Let us know if people buy! :-)

Just FYI: Only trade with Verified Paypal account holders. 

The best attempt I have seen yet.

Just scrutinize every order and be ready to make some subjective evaluations and rejections on the side of caution.

Just watch for all the obvious warning signs.
* Unverified PayPal
* Verified PayPal shipping to unverified address.
* Ebay account with little or no history or very recent account with history from a few (shill) sellers.
* Ebay account without activity for a long time (possible hacked/stolen account).

Will be interested if you can beat the scammers and hackers.  

^this +1

Just edited the top post to add a 1 BTC bonus for the first purchaser.

Very good suggestions; I've incorporated all of them in the small print at the bottom of the auction.

For a purchaser I feel comfortable with, I'll be willing to sell addition BTC for PayPal directly with much lower fees.

The note is beautiful. I've been selling bit coins on paper on eBay for a while now and using plain old paper. Thanks for the presentation suggestion.

I hope to see all eBay sellers move to a paper sales system. Help to remove some of the scammers from the eBay/PayPal system.

Hopefully the note in the auction isn't the one you receive otherwise we all have your private key loll.

I thought eBay didn't allow such sales?

You're playing with fire, but maybe this is one approach that they'll not interfere with.

One question though.  Other physical bitcoin vendors say whether they retain a copy of the private key. 

I'm presuming you are keeping the private key for a period of time so that if the note gets lost in the mail, or are charged back before the shipment arrives (or for any number of reasons), you can reclaim the coins.  Is this the case?  If not, what is the private key retention.  Also, what assurance is there that you have a secure system that is not compromised ... e..g., are these generated using an air-gapped system?

Yes, for those very reasons.

Once positive feedback has been left, then I'll just shred my copy (I'm a voracious shredder)

Of course, I'll recommend that the recipient transfer the coins off the note onto a more secure address.


None. We're talking about 10-15 coins here, not 100+

Again, it's in the best interest for the recipient to transfer the coins off the note, and I'll make sure they understand this.

And, of course, the model notes in the photos have been specifically destroyed.

I think this is a pretty good idea.  It certainly solves the proof of delivery problem.   It's no longer a "digital good" so it could actually fall under their buyer protection program.  

More important for me, it will fall under their SELLER protection policy  ;)

Just beware their seller protection isn't bullet proof. 

"Mr. PayPal LoweryCBS mailed me an empty box".
or
"Mr. PayPal the item LoweryCBS mailed me was materially different than as described I would like to return it <after transfering the funds>".

I started selling coins on eBay about a year ago. I got scammed 3 times in my first 10 coins sold and almost gave up.

Once I started selling paper coins to buyers that I had not developed a relationship with, I have not been scammed at all.

I have had several scam attempts but they always "go away" once they realize I'm not going to deliver any other way but through the US MAIL. I report these people to PayPal & eBay before they have time to reverse the transaction themselves. Oddly, PayPal is slow to freeze the funds though. Talking to the call center in India sucks.

I also only sell to people in the in my own country (US).

This is in no way scam-proof. Scammers gonna scam. But, there is easier pickins. Predators prefer easy prey.

My eBay sales are small time. Sales of 1BTC. Some people buy two. My limit is 5 per person per 90 days (i think 90 days). I have my buyer restrictions set to the most aggressive values. I keep in contact with a few other sellers and share ban lists.

Eventually, someone else will scam me again. But with a 20-30% markup, I'll be OK.