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Author Topic: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why  (Read 27873 times)
Craynon
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April 09, 2013, 07:01:52 PM
 #121

I've bought with paypal because the seller knew me in person but was abroad. Great between people you trust, terrible otherwise.

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TheButterZone
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Nemo me impune lacessit


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April 09, 2013, 07:04:14 PM
 #122


ive been reading about bitcoin escrow?
is that a good option?

Unless the escrow holds the BTC for 180 days and releases to the buyer only if the buyer doesn't chargeback in that time...

deepceleron
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April 09, 2013, 07:41:10 PM
 #123


ive been reading about bitcoin escrow?
is that a good option?

Unless the escrow holds the BTC for 180 days and releases to the buyer only if the buyer doesn't chargeback in that time...
Or longer, credit cards can be charged back far after that:
http://www.webhostingtalk.com/showthread.php?t=296411

Also ..Typically, the card issuer then has up to 190 days from this day to successfully dispute and recover the payment on behalf of the cardholder.

Any guarantee, membership or subscription period purchased as part of the transaction may be added to the 190 day period. For example, it is possible to fully or partially chargeback goods with a 12 month guarantee within 545 days of the "purchase date".


TheButterZone
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April 09, 2013, 08:00:25 PM
 #124

WTF.

hrkristian
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April 09, 2013, 10:08:42 PM
 #125

PayPal also frowns upon using their service for buying and selling bitcoins, in fact you might get banned if you give them any information that is what you've done or they somehow find out you have.
patnor1011
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April 09, 2013, 10:15:17 PM
 #126

It is not about paypal. It is about people involved in deal. If one is a scammer you cant protect yourself unless it is a deal where cash changes hand I mean face to face. I had experience when I lodged money to persons account and he never sent bitcoins to my address. Not much I can do as bank cant take funds from his acc. I guess only cyprus banks can do that if they want.  Grin
All I can do is to report it to police and wait if they will do something about it.
So if you are about to do a deal with stranger on other side of country or world then it is always risk for one side involved. Western union comes to mind but they have ridiculously high commission.
NetcodePool
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April 09, 2013, 11:35:49 PM
 #127

ive had a few good experiences doing this, but 1 bad one was all that it took and never again going to use btc/paypal

netcodepool.org
davidorentol
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April 10, 2013, 02:12:44 AM
 #128

Found this really useful. Thanks
deepceleron
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April 10, 2013, 02:41:25 AM
 #129

Found this really useful. Thanks
No you didn't, you posted this 39 seconds after your last post and 38 seconds before your next post. Another topic - don't trust post count as any measure of participation in the Bitcoin community..

wetjet43
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April 10, 2013, 02:43:28 AM
 #130

I'll be sure not to do this. I'm not in this for paypal... Bitcoin is going to take over paypal IMHO.

12wPqr8G2wRpVd2j2mLABRYTykDqjhAt3f
ankutsa
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April 10, 2013, 03:11:30 AM
 #131

hmm there's also http://coin2pal.uphero.com

has anyone tried it?
cubism4nerds
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April 10, 2013, 03:21:38 AM
 #132

Posted elsewhere, but probably more appropriate in this thread:



As we all know/read CC => BTC is about as tricky a business as any.

Scammers are rampant and chargeback folk are just as nasty.

However, as with anything new...something needs to give.  My buddies and I are looking to try something similar to this, so I thought it might be a good idea to see what ideas everyone here might have regarding security and identification.

So I've classified the "enemy" into two categories:

1) Stolen CC's

2) Chargeback people (dishonest folk)

I'll try to map out some security measures to address each of these, and hopefully you guys can add more.  It'd be nice to help legitimate people exchange CC => BTC.

1)

Stolen CC's. 

We will be utilizing:

CVV2 Authentication
Address Verification

We will also utilize a 2-factor authentication (Authy) which texts their cell phone.
Finally, as Mt.Gox and other exchanges require (for verification), we may require a photo ID (picture taken and sent in)





2)

Chargeback folk that deny ever receiving the funds.

The best that we can do here is to utilize blockchain.info to prove that the transaction took place and that the BTC was indeed transferred.

We will also document our actions for transfer to make sure we are transferring to their provided wallet (after all CC approval checks out).


Any other ideas/suggestions would be very welcome!

Thanks!

Hopefully the vast majority of us honest folk would benefit from something like this (see BitInstant hating over on the next thread).


coreminder
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April 10, 2013, 05:04:21 AM
 #133

cool
patnor1011
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April 10, 2013, 05:18:55 AM
 #134

Posted elsewhere, but probably more appropriate in this thread:



As we all know/read CC => BTC is about as tricky a business as any.

Scammers are rampant and chargeback folk are just as nasty.

However, as with anything new...something needs to give.  My buddies and I are looking to try something similar to this, so I thought it might be a good idea to see what ideas everyone here might have regarding security and identification.

So I've classified the "enemy" into two categories:

1) Stolen CC's

2) Chargeback people (dishonest folk)

I'll try to map out some security measures to address each of these, and hopefully you guys can add more.  It'd be nice to help legitimate people exchange CC => BTC.

1)

Stolen CC's. 

We will be utilizing:

CVV2 Authentication
Address Verification

We will also utilize a 2-factor authentication (Authy) which texts their cell phone.
Finally, as Mt.Gox and other exchanges require (for verification), we may require a photo ID (picture taken and sent in)





2)

Chargeback folk that deny ever receiving the funds.

The best that we can do here is to utilize blockchain.info to prove that the transaction took place and that the BTC was indeed transferred.

We will also document our actions for transfer to make sure we are transferring to their provided wallet (after all CC approval checks out).


Any other ideas/suggestions would be very welcome!

Thanks!

Hopefully the vast majority of us honest folk would benefit from something like this (see BitInstant hating over on the next thread).




How are you going to deal with dishonest sellers?
How are you going to satisfy people who will pass your checks, ID, text, CC2, STD check that they will really receive what they paid for?
legendster
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April 10, 2013, 06:13:59 AM
 #135

When it comes to Paypal, there are only two freaks of nature you can trust !

ONE :- ME !
TWO :- EBAY

Coincrazy
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April 10, 2013, 06:56:02 AM
 #136

Posted elsewhere, but probably more appropriate in this thread:



As we all know/read CC => BTC is about as tricky a business as any.

Scammers are rampant and chargeback folk are just as nasty.

However, as with anything new...something needs to give.  My buddies and I are looking to try something similar to this, so I thought it might be a good idea to see what ideas everyone here might have regarding security and identification.

So I've classified the "enemy" into two categories:

1) Stolen CC's

2) Chargeback people (dishonest folk)

I'll try to map out some security measures to address each of these, and hopefully you guys can add more.  It'd be nice to help legitimate people exchange CC => BTC.

1)

Stolen CC's. 

We will be utilizing:

CVV2 Authentication
Address Verification

We will also utilize a 2-factor authentication (Authy) which texts their cell phone.
Finally, as Mt.Gox and other exchanges require (for verification), we may require a photo ID (picture taken and sent in)





2)

Chargeback folk that deny ever receiving the funds.

The best that we can do here is to utilize blockchain.info to prove that the transaction took place and that the BTC was indeed transferred.

We will also document our actions for transfer to make sure we are transferring to their provided wallet (after all CC approval checks out).


Any other ideas/suggestions would be very welcome!

Thanks!

Hopefully the vast majority of us honest folk would benefit from something like this (see BitInstant hating over on the next thread).




Beautiful idea

I hope you succeed

you succeed and may be you are on the way to become the next bitcoin millionaire

I'm a newbie , a honest newbie, I've been watching the market for 10 ...15 days, coudn't buy my first bitcoin, because the process is so cumbersome at the moment

IF ..only IF easier options existed I could have benefited, the seller could have benefited the exchange / exchanger could have benefited

I've posted similar thoughts here
https://bitcointalk.org/index.php?topic=172011.msg1789683#msg1789683


regards


_______ Have a nice day folks =:) _______
===I'm wondering why I was slaving away 9 to 5 , NOT knowing Bitcoins earlier ; Regards, CC===
Scriptiee
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April 10, 2013, 08:27:09 AM
 #137

Great info right here. cheers
kapolani
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April 10, 2013, 10:25:13 AM
 #138

Do people use Dwolla?

Got verified and waiting for funds to complete transferring.
crazymaso
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April 10, 2013, 11:16:59 AM
 #139

Haven't read through the entire thread, but can someone shed some light on whether or not this is true?

- Create Invoice via Paypal to send to customer
- Invoice has terms and conditions, such as non-refundable under no circumstances
- Have customer send an email to confirm they agree to terms
- Customer pays Invoice

I had to file a claim with Paypal few months ago over a dodgy Ebay seller who gave me a "new" piece of furniture. The furniture had scratches and cracks in it. It actually was a major effort for me to get Paypal to have me win the case, because I had to provide proof etc etc.

I suppose it's different when it's not a physical item, however I wonder if Paypal will accept the above steps?
kevcoins
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April 10, 2013, 11:46:04 AM
 #140

creating an invoice should help because pp would consider this as a commercial or business transaction, but personal transactions is another different case... is 45 days to file dispute and better to have proof and evidence. is best not to do a personal transaction where you get limited protection...
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