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Author Topic: I have 100 PayPal Looking for BTC? A first trade, I'm a NOOB  (Read 727 times)
inferno.d
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June 06, 2011, 05:25:26 PM
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I have 100 PayPal USD and I'm looking to get my first BitCoins.  I'm totally a Newbie at this and I'm just looking to get my feet wet.  Please PM and let me know. 
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June 07, 2011, 07:11:36 AM
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A word of advice would be to withdraw that paypal amt into your bank account and then either direct ACH transfer with whoever you deal with, or set up a dwolla account.

Nobody with half a brain cell is going to use paypal payments to sell their BTC.
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June 07, 2011, 09:26:28 AM
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Exactly.

If PayPal for some reason removed chargebacks tomorrow (wont happen, but entertain the thought), how many of these threads would still pop up? Next to zero.

How many would make excuses as to why they suddenly cannot pay even though they just 24 hours ago claimed to have thousands?
The ugly truth is: The vast majority.

Don't trust unknown people, ever. Only deal with foolproof methods. Trust large instances that have little incentive to steal your money & process millions per day, like MtGox. If you do trust an individual trader, make sure he has a reputation to lose, and even then preferably deal in small chunks to minimize risk.

Bottom line: Scammers aren't smart. Very few, if any people, are falling for these 'nice clueless guy new to bitcoin, want fast btc with pp' acts.

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