Bitcoin Forum

They just closed my friends account with more than $150,000.

Holy shit what the fuck PayPal?!

Only around 10% of his transactions were even Bitcoin related.

This bullshit has gone far enough.

Can we please have massive lawsuits against PayPal and perhaps put them out of business once and for all? They cannot continue to operate in this manner.

This is absolutely DISGUSTING.

I'm sure a lot of people used paypal before bitcoin came along. I certainly did. It's the closest thing to bitcoins for quick and *relatively* safe online transactions. But now Paypal is slowly becoming obsolete because of bitcoins, so it's not surprising they're starting to crack down. It's a direct competitor. Remember - First they ignore you, then they laugh at you, then they fight you, then you win. If you look at the financial system overall right now, it's really starting to go into the fighting phase.

great comparison there Mr. Millionaire   ::)

Yup, put them in cold storage, i.e. bank.

Where did you read "locked down"?

They can shutdown or terminate your account but they cant seize your fund unless its an order by authorities.

Ppl use paypal for business with millions in transactions. Stop sitting here and act like you have run a business or worked in real world. Go back to Thailand and get your teaching job back please.

Looks like paypal is going to go for the slow painful crushing death under the weight of cryptos instead of getting with the program creating new modelling and embracing it!

They will die either way

Atlease now they're putting a fight.

This is insanity they are trying to tell him he might not be able to get his money?

WOW.

Why the fuck is PayPal doing this out of no where when eBay is allowing digital currency?

Wow did you have a third eye that can read hidden words?

because where the fck did you read " they are trying to tell him he might not be able to get his money" ?

paypal always try to crush its competition .They create new rules themselves and ban you.

PayPal terms states even when an account is locked / limited, after 180 Days they MUST return your money.

After this latest stunt I would say it's even worse. Instead of having re-runs of Ross and his prison term (watch yourself in the shower Ross! :) ) maybe this is a more deserving story to cover. Confiscating $150,000 is fucked in anyone's language.

Oh I'm sorry, I didn't realize you were his friend as well.  ::)

I suggest you research your States Money Transmittor laws.

PayPal needs to follow the laws of the State regardless of the content within the terms of service agreement.

Totally, i'm so ignorant... next time when you're running another mining scam, please count me in. I want to be a millionaire too.

A mere 180 days.

Paypal is a terrible company. They ruled for a while because they had a monopoly.  The monopoly is finally coming to an end, thank goodness. It can't come fast enough.

I remember when I first had a paypal account.  I had some problem, they double charged me or something.  At that time they did not even have a customer support phone number, or any phone number at all to call, anywhere.  And no matter what email you sent them about issues, they would send a form letter that didn't even address your issue. In short the company always sucked, they just could get away with it.

Why would you keep $150K in paypal, i do an immediate withdrawal of every receipt i get in paypal, even £10, i dont trust them at all.


hope he gets it back from the scammers.  F??K PAYPAL!! >:(

Yeah every time I used paypal I just sent the exact sum from the bank and immediately made a purchase. Never kept anything on their account. Paypal is a thing of the past.

From Today on they freeze all payments to my account for 45 days too. This is crazy! I HATE Paypal and dance the day they are bankrupt.
Would like to kick some asses there. Ebay is the same - froze my account without any reason.
Sold 20 miners worth over 70.000 Euro - without any problems (all delivered and all totally happy). Now suddenly I cannot list anymore!!
ebay + paypal = scam²

Why would anyone keep their money on PayPal? No really, not acting smart i'm simply asking? I wouldn't keep 1000$ let alone 150,000$ on a "banking" system like PP? And what are they asking from him so he can verify, lift limits or get his account back...

If you use PayPal, you do so on their terms.
Stop using paypal people. What's the point of Bitcoin if you gonna continue to use Paypal???

Wow, $150,000 on Paypal  :o
Why did your friend keep such a large amount of money in his paypal account?

I've lost $1200 on Paypal due to bitcoin related transactions (not selling BTC direct, but other ebay auctions) where seller disputes even after I show 10 lines of evidence that buyer purchased and received, Paypal still rules against me.

The only way to get your $ back is to open a paypal account and defraud others.  Paypal will always screw the seller.