Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why

[TheButterZone]

WTF.

[1714102347]

1714102347

[1714102347]

1714102347

[1714102347]

1714102347

[hrkristian]

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]

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. 
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]

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

[davidorentol]

Found this really useful. Thanks

[deepceleron]

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]

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

[ankutsa]

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

has anyone tried it?

[cubism4nerds]

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).

[patnor1011]

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]

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

ONE :- ME !
TWO :- EBAY

[Coincrazy]

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

[Scriptiee]

Great info right here. cheers

[kapolani]

Do people use Dwolla?

Got verified and waiting for funds to complete transferring.

[crazymaso]

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]

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...

[jbah01]

If I understand correctly, the risk, in contrast to eg. paypal, is completely for the sender/customer (hoping he will receive what he paid for) than for the receiver/seller (who will have his bitcoins guaranteed and non-revocable)?

[Ghostdog]

No way I was scammed as a buyer also. Be careful.

[cubism4nerds]

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?

So we would be the sellers - and we're quite honest

As for people that pass all the checks - we will send them the BTC, and we are currently working on algorithms to prevent them from denying having ever received the funds

[uyjulian]

Paypal...

It's only good for ebay, and rarely nothing else... (like bitcoins)