Sigh. I don't think anything I could say or do will improve the quality of this forum or its loudest inhabitants.

From moderators who pathologically normalize abuse to users who insist on projecting their unwarranted and unwanted opinions onto a thread they have no connection with and no business being in, I have to say this is one of the worst administered forums I have ever used.

I have nothing more to say on the matter. I leave the thread to those who would claim it.

Customers may contact me as always at gco.yandros@gmail.com

Updates will be posted on mrcoins.org in future.

Thank you.

You could have fooled me. I've repeatedly asked you to remove him from my thread in private messages. It seems to me he can make any disingenuous, mean and ridiculous allegation he likes and have your full protection, but when anyone else tries to question him on this you delete their posts.

It is plain as day and everyone can see it: You are here to protect the trolls on bitcointalk.org. It's corrupt and ridiculous, but at least now it's public.

Is this directed at me?

You can verify with any moderator that this is my first and only active account on bitcointalk.

Notice to our customers:

We have increased our rates and decreased our re-stock speed. This is to reduce our overall sales volume to give us time to better assess charge-back risk over the coming weeks.

Mr Coins is not presently intended for large volume sales. (If you want to buy large volumes of bitcoins, please seek out a seller here on bitcointalk.) We aim to provide liquidity for small bitcoin transactions (typically under 10 BTC.) That is: customers who need a small number of bitcoins for a transaction on short notice can obtain them at Mr Coins.

Depending on our success over the coming weeks in mitigating charge-back and fraud risk, we may increase volume and decrease rates.

Thank you for understanding.

-Richard

Thanks for your points.

I'm not a lawyer, but I believe in Australia the doctrine of Estoppel produces an automatic ammendment of contractual obligations based on the promisses and assurances of a party to the contract.

Here is a short article on the topic: http://en.wikipedia.org/wiki/Estoppel#Australian_law

But I am hoping not to take them to court or any such drawn-out nonsense. If I can talk to them and get a water-tight written statement of permission to conduct this business from them, then I think this will be adequate. If not, I will look at finding another payment processor.

Hi Mndrix,

Thanks for the information.

I am currently still trying to contact PayPal Australia at their AUP department. When I do, I'll ask how to contact compliance.

If I can get PayPal Australia to issue a written statement then they cannot simply 'overturn it.' As far as I am aware: Under the law of Agency it shouldn't matter which department or which employee's hand the statement comes from. If the agent acts as though they have the authority to make the statement, and sign it binding PayPal Australia, and the company is aware of the actions of its employee but does nothing to stop them, then the company is bound. I'll call the ACCC as well to make sure this is legally the case in Australia.

Cheers,
Richard

This is a risk I have already accepted. I am prepared to lose all the capital I have invested in this venture. And I am aware of Coinpal and previous failures -- this is why I did not start out accepting PayPal.

However, this said, my PayPal business account is five years old and in good standing, and has transacted a considerable amount of business every year since its creation. Based on my past experience with PayPal, I do not think they will simply close the account and take my money. If they do I may want to file a complaint against them in small claims court here in Brisbane, and this is why I want the written statement from them -- as admissible evidence for a court of law.

My entrepreneurial experience over the years has mostly been in high risk areas (particularly virtual goods) and I think I have some experience in dealing with these matters. Although Matthew would like you and everyone else to believe I'm a 'complete newb' this is not the case. I don't think this really needs to be pointed out, but: my post count on bitcointalk.org does not reflect my actual business experience or wisdom.

Something I have learned about high risk areas is that many who can't will attack those who can to cover their own failings. It may well be the case that it is simply 'impossible' to accept PayPal for bitcoin. But all we know for sure at the moment is that those who have tried -- incuding Matthew -- have failed. In otherwords we know Matthew has failed. He doesn't need to advertise the fact further, especially not on this thread. I don't want or need his 'help' and as I said orginally at the start of this thread, he should go mind his own 'serious business'.

Further, I have been in discussions with 'Maged', a Global Moderator here, and it seems bitcointalk protects its trolls, particularly those pestering honest business threads. To this end I have resolved to simply ignore all further trolling in my threads.

I have just called them again, and asked for a more specific written statement along the lines of "we authorize you to sell coupons redeemable for bitcoin using PayPal." This is now in the works. The PayPal agent claims he will get back to me within 24 hours.

Hi Burt,

Thanks. I'm trying to factor in the cost of charge-backs, etc. hence the slightly higher price. -- I haven't had any trouble yet.

I'll have a look at that rounding issue in a minute.

Incidentally, I've called PayPal to OK the business with them. They've said it's fine. But to quell the concerns raised above I will get this in writing from them.

In case anyone is wondering: Our Google Checkout account is still operational, but they have ruled for the moment that Mr Coins breaks their terms of service. I don't believe it does, but I have suspended accepting Google Checkout for the time being until this is resolved. Unfortunately their customer service is not very good (no callable phone number and email support takes weeks), so this may take some time. (In addition we have reached our monthly limit on Google Checkout.)

And restocking is now automatic (but not instant.)

Will keep you all updated as to our progress.

Cheers,
Richard

Just an update for our customers:

We have moved to PayPal for payment processing.

You can still pay by Credit Card. Simply select "Don't have a PayPal account" on the checkout page.

Thanks,
Richard

Ok, thank you.

Hi Burt,

Thanks for the suggestion.

I've listed it: http://www.thebitcoinreview.com/site.php?site_id=788

(I've tried adding contact details a couple of times to the listing but they keep coming up blank. Maybe there is a database delay? Will try again soon.)

Our first couple of days of trading have been quite successful dispite a few minor script bugs. A big thank-you to all Mr Coins customers!

I hope to expand the service in the near future and add additional fraud and chargeback prevention measures.

Cheers,
Richard

Thanks!

If there are any issues with delivery please email me ( gco.yandros@gmail.com ) and I'll re-send the codes.

We send both an email containing the codes and a series of Google Checkout messages containing the same, as backup. If both of these delivery methods fail (unlikely) I will manually send codes by SMS.

Cheers,
Richard

Thanks for buying!

The 10 BTC codes won't be avaliable until we have finished testing our systems.

Presently we are only selling Mt. Gox codes for denominations of 5 BTC and 1 BTC.

Thanks,
Richard

Hi Burt,

Thanks for buying! We're glad you're happy with the service

I've just restocked the store.

(I will enable automatic restocking when our scritps leave the beta testing phase.)

Thanks,
Richard

Offensive and uncalled for.


Fortunately we are not selling digital currency. We are selling Mt. Gox codes.

Kindly leave this thread for customers only.

Thanks,
Richard

Sorry for the delay. We are back online, and taking orders. (Google had disabled our account, for unknown reasons, but seems to have re-enabled it after a prompt review.)

Edit: (Site issue -- now resolved.)

It is slightly onerous. It would be better if btctalk had an SMS verification system or similar. That way they could ensure one account per person and stop unwanted signups that way.