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Author Topic: Is Paypal really an option for trades  (Read 2797 times)
the_viper
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June 03, 2011, 09:25:18 PM
 #1

Hi there,

I'm a newbie here myself and while I've been doing quite a bit of reading on mining and hope to put together a rig asap.
With the price increases I've been hearing about I want to try and buy some coin's to hold onto in the meantime however the only way I can finance a trade seems to be paypal as I don't have any other e-wallet at the minute.

Some of the post's I've read seem to paint it as a bit of a untrustworthy way to deal and I'm just wondering is there/what is the best protocol to use when dealing with people here through PP.

For example I read someone post the following and I really don't know why this would be only best head the guys advice anyway.

Quote
Whatever you do, don't pay (or be paid) using the "gift" option. Supposedly, that is more likely to cause problems. Use personal payment owed instead.

What I'm asking is: what advice would you give for me hoping to buy some coins in the near future.

Any help would be appreciated
Thanks
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June 03, 2011, 09:53:33 PM
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State what country you are in if you actually want help?

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the_viper
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June 03, 2011, 10:09:47 PM
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No problem, Im in the US.
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June 03, 2011, 10:19:56 PM
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In the US? You have a wide variety of options for obtaining bitcoins. Have you looked around yet?

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CravenEconomics
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June 04, 2011, 03:13:29 AM
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I have also been looking around, but is Paypal the best source for US people looking to both buy and sell?

GAMES FOR BTC --- STEAM and EA STORE (Origin) --- GREAT DEALS! (http://forum.bitcoin.org/index.php?topic=20559.0)
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June 04, 2011, 03:16:07 AM
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I have also been looking around, but is Paypal the best source for US people looking to both buy and sell?

No, it's the worst.

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DannyM
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June 04, 2011, 04:23:41 AM
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I just got limited by paypal today.

I just got a dispute of not received from a bitcoin related transaction too without any contact from the other party yet.

UBITEX FTW http://ubitex.org/
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June 04, 2011, 04:40:35 AM
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Paypal has an amazing history. They were born and raised during an intense war with eBay. Perhaps they will die from a losing battle with Bitcoins?

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the_viper
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June 04, 2011, 11:49:32 AM
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That ubitex.org site looks interesting but there is nobody near me that I could do a deal with unfortunately.

One of the problems of living in the countryside I guess Angry
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this is America's "Value"


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June 04, 2011, 11:53:00 AM
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I've only been trading for a week, but all of it has been through bitcoinmarket.com using paypal.  I've bought and sold with no issues so far.  That's not to say the rug won't be pulled out any day... any hour... any minute now.  Oh crap!  now I've made myself a nervous wreck!   Any way, decided to go the MtGox way, but haven't gotten my cash there yet.  (stupid weekend in the middle of all this)

After all is said and done, there is usually more said than done.
DannyM
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June 04, 2011, 12:21:52 PM
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That ubitex.org site looks interesting but there is nobody near me that I could do a deal with unfortunately.

One of the problems of living in the countryside I guess Angry

That may be an issue for a little while still, but it looks like the ubitex project is just getting started, so I wouldn't expect to find many users yet.
It looks interesting to me too, I'll look into it some more to see how they will handle the details.
the_viper
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June 04, 2011, 01:35:51 PM
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I've only been trading for a week, but all of it has been through bitcoinmarket.com using paypal.  I've bought and sold with no issues so far.  That's not to say the rug won't be pulled out any day... any hour... any minute now.  Oh crap!  now I've made myself a nervous wreck!   Any way, decided to go the MtGox way, but haven't gotten my cash there yet.  (stupid weekend in the middle of all this)

I think I will try and get setup on mtgox as well but with the way the market is going I will probably try and buy some with my paypal first.
Hopefully they wont lock me up for making 1 transaction
CravenEconomics
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June 04, 2011, 02:27:27 PM
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http://tradebitcoin.com/ Seems to be a good source for local traders. At least in the North East of the US

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stic.man
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June 04, 2011, 02:29:16 PM
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you may be able to get in quicker via virwox.com as you can use a credit card to buy the 2nd life bucks then convert them.  Not sure how their prices compare to mtgox or other exchanges but it is an option.  You don't even need a 2nd life account, you can make up any name for your avatar
jjVon
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June 04, 2011, 11:47:29 PM
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I've only been trading for a week, but all of it has been through bitcoinmarket.com using paypal.  I've bought and sold with no issues so far.  That's not to say the rug won't be pulled out any day... any hour... any minute now.  Oh crap!  now I've made myself a nervous wreck!   Any way, decided to go the MtGox way, but haven't gotten my cash there yet.  (stupid weekend in the middle of all this)

I think I will try and get setup on mtgox as well but with the way the market is going I will probably try and buy some with my paypal first.
Hopefully they wont lock me up for making 1 transaction

Surely they're not locking anyone up.  I don't get what their deal is anyway.  They still get fees on some of the transfers.  It shouldn't matter to them what the "product" is.

After all is said and done, there is usually more said than done.
cuddlefish
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June 04, 2011, 11:57:51 PM
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That ubitex.org site looks interesting but there is nobody near me that I could do a deal with unfortunately.

One of the problems of living in the countryside I guess Angry

That may be an issue for a little while still, but it looks like the ubitex project is just getting started, so I wouldn't expect to find many users yet.
It looks interesting to me too, I'll look into it some more to see how they will handle the details.

Hey, I'm the creator of Ubitex!

Right now we're preparing to deploy a very handy update. This will allow the seller to choose between a list of buyers who are interested; it will also give you a URL specific to your order, for posting on Facebook, Twitter, your blog, forum sig...

Thanks for using our site; due to the nature of it we need as many users as possible.



MoonShadow
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June 05, 2011, 12:03:36 AM
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I've only been trading for a week, but all of it has been through bitcoinmarket.com using paypal.  I've bought and sold with no issues so far.  That's not to say the rug won't be pulled out any day... any hour... any minute now.  Oh crap!  now I've made myself a nervous wreck!   Any way, decided to go the MtGox way, but haven't gotten my cash there yet.  (stupid weekend in the middle of all this)

I think I will try and get setup on mtgox as well but with the way the market is going I will probably try and buy some with my paypal first.
Hopefully they wont lock me up for making 1 transaction

Surely they're not locking anyone up.  I don't get what their deal is anyway.  They still get fees on some of the transfers.  It shouldn't matter to them what the "product" is.

It matters to them because Bitcoin represents a competitor that they cannot possiblely undercut.  It's like M$ response to open source software, it was better and potentially free for their userbase.  They had no short term response, and their long term response was to offer a better end-user experience or simply fail.  Windoze has a usability advantage over GNU/Linux (for laypersons, not geeks) to this very day; but paypal is only a payment processing agent for the existing banking system, they cannot offer a better currency because they can't control the qualities of the fiat currencies that they process.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
jjVon
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June 05, 2011, 01:00:12 AM
 #18

OK, I got it.  When BTC is more widely accepted, there will be little to no demand for a payment processor like PayPal.  It's the old " kill the next king while he's a baby" thing.

After all is said and done, there is usually more said than done.
MoonShadow
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June 05, 2011, 01:10:00 AM
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OK, I got it.  When BTC is more widely accepted, there will be little to no demand for a payment processor like PayPal.  It's the old " kill the next king while he's a baby" thing.

Yup.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
cuddlefish
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June 06, 2011, 05:57:17 PM
 #20

Has anybody used Ubitex to make a trade? I keep looking, but there seems to be nobody near me, even if I put in an ungodly distance like 10000 km.

Oh dear. It seems the GIS Library From Hell decided that they'd take arguments in /meters/, not /kilometers/.

Update your profile again, and it should be in the correct units.

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