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Author Topic: PayPal to Mt Gox  (Read 1389 times)
AltPluzF4
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May 27, 2011, 12:59:19 PM
 #1

Well, I'm bored and my Bank has imposed a new rule where inactive checking accounts will be charged a fee.
So... I've decided to use my PayPal and DWOLLA account to let people transfer money into MtGox, then they can exchange it for bitcoin themselves.
I will not impose any fee (except any given by PayPal or the $0.25 DWOLLA fee.) (However bitcoin donations would be appreciated after a successful transfer.)

The catch? Time. You'd have to wait about a day for the paypal funds to show in my bank, and then I believe MtGox has like a 12 hour window for verifying incoming payments.

If you're interested, click my signature for my email, and we can work out the details.
Thanks for your time.


*EDIT*
After reviewing options, it doesn't appear as if this is something people would be interested in. However, I'll leave this post here just in case some random person stumbles upon it and sees it as the best option for their needs.

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davout
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May 27, 2011, 01:08:23 PM
 #2

Sounds legit

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May 27, 2011, 01:15:45 PM
 #3

Sounds legit

Thanks for the sarcasm.

Like I said, email to work out the details. Not sure what "proof" I can display, but it's pretty simple. You send funds via PayPal, after a reasonable couple of days, if you've not gotten your MtGox deposit, you issue a refund request. The way I see it, I'm the one at risk in this situation, as the burden of proof will be on me if someone were to file a false claim after receiving their funds.

If you have any suggestions on information I should post, let me know.
I don't do paypal, I just don't really see what benefit you'd get out of it.

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May 27, 2011, 01:31:42 PM
 #4

Everyone expects a benefit?
Not necessarily, but usually yes.

Also, please let me correct my wording... when I said "Thanks for the sarcasm." What I mean is; I appreciate the skepticism. I know I have no reputation, but this could allow me to gain some reputation after a few transfers for people.
Cheesy

I've heard people saying that you can charge paypal back only if you pay with a credit card, this might be completely wrong, feel free to call me an idiot. But if that's true it means that someone who transfers paypal credit to you that hasn't been funded with a credit card won't be able to reverse the transaction if something goes bad.

In the opposite case you're putting yourself at risk.

(Feel free to correct if my understanding of paypal is completely wrong)

If you want some reputation maybe you should do some OTC trades.

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May 27, 2011, 01:47:32 PM
 #5

Not quite sure what you mean by OTC trades.
OTC is over the counter -> http://bitcoin-otc.com/
People will rate you if they trade with you

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May 27, 2011, 06:12:39 PM
 #6

Welcome to Bitcoin.

If you haven't noticed, we're trying to bootstrap an economy. (Well, some of us are.) We see a LOT of new people come in to the community offering this, that or the other thing without having previously engaged in the community. While I have no desire to discourage new people from offering their services, we have also seen a lot of scams, and so anyone who hasn't been in the community for a while and built a reputation is going to be scrutinized carefully.

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