This was what I wasn't sure about, but still wanted to confirm it myself. I've talked to a lot of sellers selling 2x the price who were getting scammed. But again I don't think it's really farfetched to find 1 guy who trusts eBay seller feedback who wants to pay with PayPal to buy a few BTC. Of course there are a lot more BTC sellers competing for fewer buyers.

That's a definite possibility if the owner of the hacked PayPal account doesn't notice until 45 days later. However do you know if it was the actual eBay buyer who chargebacked or was it hacked? Because there are so many eBay sellers who claim every single person from 0 to 1000 feedback is a scammer, and I don't believe that.

CoinPal was able to get their fraud rate under 1% before they were closed by PayPal and that was random strangers with no eBay feedback.


You're not posting anything I don't already know. As far as I can tell, I'm the only one following eBay and PayPal rules other than Casacius of course. The point of doing this isn't to see whether there are scammers on eBay. We already know there are. The point is to see whether buyers with decent feedback are tempted to chargeback BTC after getting them.

I started selling bitcoins on eBay to answer 2 questions.

1. Are people really raking in super profits selling at 2x the market price or is it all scammers?
2. Do eBay accounts with 20+ feedback actually scam 1 BTC ($5 value at the time) or eBay sellers just being scammed by hacked accounts?

I'm a eBay seller 400+ feedback and another 200+ feedback on a different site selling digital goods.

To sum it all up:

In the span of 20 days, I've only sold 3 BTC at a very modest 40% over market price to 1 bidder. Bidder had 100 feedback and verified by phone call and email.

I've had 10 auctions end with a high bidder. 7 auction winners had immediate red flags so I refunded those payments after a few days and requested eBay credit the fees.
Pro tip: Refund fraudulent payments before the real owner files a chargeback.

I'm not the seller here, but this is what you have to deal with.
http://www.ebay.com/itm/41-Bitcoin-electronically-delivered-to-your-wallet-/251083541590?pt=LH_DefaultDomain_0&hash=item3a75becc56

0 BTC lost so far. (Probably jinxed myself with this statement. haha)

There may be others out there with better luck but these are my results.

Also phishing scams tricking buyers to send BTC to the wrong address.

PayPal might be against this. Also for 20%, you don't have to deal with PayPal chargebacks which is pretty nice..... steep cost, but nice.

Things were already selling for cash before RMAH. It's just official now. Gold looks to be around $2.50 / 100K. Secondary Market is $1 / 100K

I think he meant dropping PayPal payments not bitcoins.

Well my question is in the line of is it better to let the receiver discover everything themselves about bitcoins or give them a gentle push in the right direction? Because if I got this without instructions, I'd be what the hell is this... some kind of strange currency. And put it aside until I had time to figure it out. Depending on the person, they might not care until you tell them it's worth $125. haha


How pretty? Pix?

This has always been their policy. It was just never enforced. And it's pretty obvious when you're accepting payments from random strangers all over the US or world that they're not your friends or family. Sure there maybe like less than 5% of people who actually have tons of friends all over the world who will get caught in the crossfire. But what I wonder is if you're a special case or they're seriously cracking down on this now.

Haha from Casacius himself. Actually I should clarify that it's not 1 Bitcoin. I'm not *that* cheap.. especially for a wedding. It will be your 25 BTC one. Since that one was for myself, that means I'll have to buy another one from you eventually! Look what you've done!

I was thinking of giving away a CASASCIUS Bitcoin as a gift for a Chinese wedding - slip in a red envelope.
The bride probably will have no clue what it is. The groom might have heard of bitcoins, but doubt he has a wallet.

Should I include instructions on what to do with it or just let them figure it out?   

Could you change your title? Just opened this again and forgot it was about a blacklist.

Did I read that right? He was on the bubble for the final table..... Dang....

You're right about most people referring to chargebacks including disputes, but I don't think it's fair to group those in. Are you sure about that statement about PayPal disputes not involving credit card chargebacks? I would think the majority are since the credit card company sides with the consumer 99% of the time in these cases. For those PayPal disputes, if you set  up correctly before they happen, you can win them. IMO, not having to deal with chargebacks is winning half the battle. Remember PayPal doesn't offer buyer protection for intangible goods either.

In my experience, PayPal will let the transaction stand as is regarding intangible goods if the dispute is "goods aren't described or not received" (Also mitigate risk by having buyer leave a message "intangibles were received. thanks" in payment message)

So that really only leaves the unauthorized dispute where you just need to do your best to make sure the person sending the payment is actually the owner of the PayPal account.

Now you factor all that in, scammers are really going to think twice about scamming you since they won't know for sure what the outcome will be.

That's not correct. You can chargeback a debit card and credit card purchase but not a MoneyPak or bank. However, you can open a PayPal dispute on MoneyPak or bank payment. There's a huge difference and that is a common misconception among buyers and sellers here.

Yes. Pretty much.

Is there any way for a seller to know if the buyer's PayPal payment was funded by MoneyPak? If no, can the buyer prove their payment was sent with MoneyPak (Other than a screenshot)?

Will PayPal freeze my account if I load up to the $4000 limit every month using Money Paks bought from multiple people or do they care?

After loading my PayPal account, can I immediately withdraw it to my bank?

I've heard MoneyPak has about the same amount of protection as Western Union. Is that true? Have you heard of anyone recovering their MoneyPak funds after they've been spent claiming the pin number was stolen.

Bitmint and BTCpak:

Got a few tough questions regarding MoneyPak and PayPal. Do you guys have any familiarity in that area?

You're right that 100-150 chips won't change the level of play very much. haha Figured I'd ask anyways.

Let me clarify, I never said anything about "playing poker for bitcoins is illegal." I'm a resident of Washington, USA with the harshest online gambling laws in the country. Online poker is a Class C Felony which has the same punishment as a child molester. So I assume freerolls is the only legitimate game I can play. When are these 1-10 BTC freerolls? I'd actually just prefer to play in a slower tournament. That would be great. I'd definitely help promote that since you would be the only legal online tournament that would have resemblance to some form of "poker."

You can. That's exactly what PayPal Mass Pay is.... no chargebacks.


Not sure what you're getting at here, but I'm not a newbie.

Hey,

Can I make a request? Make your freeroll tournaments be every 2-3 hours and to increase the blinds every 15 minutes instead? Have people start with a bigger chip stack? And increase the prize to 100-150 chips. Thanks!

That would make these freeroll tournaments more competitive..... and well hate to say it but your freeroll tournaments are the only ones I can play legally.