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Author Topic: Selling a good portion of my bitcoins. $17.75 a piece. Accepting paypal.  (Read 1958 times)
AndGui
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June 15, 2011, 02:37:07 AM
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I am selling a pretty good portion of my bitcoins. 150 of them for $17.75 each. Price will change based on exchange rates.

I HIGHLY encourage you to PM me and have the both of us chat for a bit if you plan on making a large purchase. That way, we both can get familiar with eachother and know we both feel safe prior to making any large trades. PM me and I can give you either my AIM or my phone number.

You can purchase here: http://bit.ly/kE3mLN
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Tarma
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June 15, 2011, 02:50:15 AM
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I looked at your listing on the site. how do i know you won't run off with my money?

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AndGui
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June 15, 2011, 02:54:11 AM
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I looked at your listing on the site. how do i know you won't run off with my money?

We can chat for a bit, and if you seem trustworthy enough, I will go first.
BitCoinBarter
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June 15, 2011, 03:06:19 AM
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Hi AndGui,

I don't know much about this. Hopefully you do or someone who does can post.

It is my understanding that accepting PayPal to purchase BitCoins is a bad ideal.

Why? A transaction with BitCoin is NOT reversible, while a transaction with paypal is.

If I'm right, someone can purchase some bitcoins from you. As soon as they get it, they notify PayPal that YOU scammed them and get their money back. PayPal returns them their money and you will be sad  Cry and BitCoin less. 

Granted, you may have something setup to protect you from this. If this is correct, then forget about my post.

I was trying to help.

Do no evil,

Smiley 12KYva8D2GT3C1wSD8wvgkFkP5TnBp3LPC Smiley
kodesh
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June 15, 2011, 03:57:40 AM
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Hi AndGui,

I don't know much about this. Hopefully you do or someone who does can post.

It is my understanding that accepting PayPal to purchase BitCoins is a bad ideal.

Why? A transaction with BitCoin is NOT reversible, while a transaction with paypal is.

If I'm right, someone can purchase some bitcoins from you. As soon as they get it, they notify PayPal that YOU scammed them and get their money back. PayPal returns them their money and you will be sad  Cry and BitCoin less. 

Granted, you may have something setup to protect you from this. If this is correct, then forget about my post.

I was trying to help.

This is correct. Though I do think the seller is at more risk for a BTC transaction using Paypal then the buyer. Why? If the buyer disputes the transaction and says it was not authorized or they did not receive the item, Paypal will refund their money and the seller must then try and prove the transaction was legit. As far as I can tell the only thing that PayPal considers a legit transaction that they will side with the seller on in the case of a dispute is a physical item that was shipped with tracking and delivery confirmation to the confirmed name/physical address of the other PayPal user. Even then, it's a toss of the dice sometimes with PayPal.

TL;DR: If you sell someone BTC with Paypal, you have almost no protection against the buyer disputing the transaction.

YMMV
RyNinDaCleM
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June 15, 2011, 04:01:42 AM
 #6

You can't exactly tell PP that it was for BTC or they will surely freeze your account for up to 180 days!
PP and BTC don't play nice, if they find out!




torusJKL
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June 15, 2011, 05:52:15 AM
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This is what you get now when opening the above link:
Quote
The listing you are trying to view does not exist or was suspended by the site admin.

If you find my post useful send some BTC: 167XM1Za8aG9CdbYuHFMpL2kvPsw6uC8da
Bitrated || bitcoin-otc || Moon Bitcoin Faucet
mellowhead
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June 15, 2011, 05:59:13 AM
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I suggest you all look at an escrow service like this: https://clearcoin.appspot.com/

11 Cheers for binary currency!
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Houdini
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June 15, 2011, 06:06:55 AM
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I am selling a pretty good portion of my bitcoins. 150 of them for $17.75 each. Price will change based on exchange rates.

I HIGHLY encourage you to PM me and have the both of us chat for a bit if you plan on making a large purchase. That way, we both can get familiar with eachother and know we both feel safe prior to making any large trades. PM me and I can give you either my AIM or my phone number.

You can purchase here: http://bit.ly/kE3mLN
You can try BitMarket.eu, no fees, you can use PayPal, and you can use $ or L or €. So basically there's no downside compared to your plan, but buyers are checked so you wont get swindled by PayPal buyer protection, and they are protected by their escrow service.
Btw I might be interested in some of your coins at that price.
tsupp4
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June 15, 2011, 07:02:53 AM
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I'm interested in a few coins from your offer. Please clear payment conditions from PayPal.

"It's not rich who got much, but who gives much."
thallium205
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June 15, 2011, 08:18:36 AM
 #11

Also - Paypal hates virtual currencies.  In their developer agreement, they strictly prohibit it:

Quote
9. Restrictions. The following activities are subject to additional restrictions. You must receive our Prior Approval
if you would like to create an Application which is designed for or results in any of the following:

f. Virtual Currency. Any Application that allows for the purchase or sale of a virtual currency.
https://www.x.com/servlet/JiveServlet/previewBody/1011-102-1-1007/Platform%20Agreement%20V1.pdf

We all remember CoinPal, right?  -> http://coinpal.ndrix.com/  I wouldn't do this with the fear of getting your account frozen.
Tarma
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June 15, 2011, 05:17:06 PM
 #12

I am selling a pretty good portion of my bitcoins. 150 of them for $17.75 each. Price will change based on exchange rates.

I HIGHLY encourage you to PM me and have the both of us chat for a bit if you plan on making a large purchase. That way, we both can get familiar with eachother and know we both feel safe prior to making any large trades. PM me and I can give you either my AIM or my phone number.

You can purchase here: http://bit.ly/kE3mLN
You can try BitMarket.eu, no fees, you can use PayPal, and you can use $ or L or €. So basically there's no downside compared to your plan, but buyers are checked so you wont get swindled by PayPal buyer protection, and they are protected by their escrow service.
Btw I might be interested in some of your coins at that price.

bitmarket.eu does not accept $USD.

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tsupp4
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June 15, 2011, 06:34:36 PM
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I am selling a pretty good portion of my bitcoins. 150 of them for $17.75 each. Price will change based on exchange rates.

I HIGHLY encourage you to PM me and have the both of us chat for a bit if you plan on making a large purchase. That way, we both can get familiar with eachother and know we both feel safe prior to making any large trades. PM me and I can give you either my AIM or my phone number.

You can purchase here: http://bit.ly/kE3mLN
You can try BitMarket.eu, no fees, you can use PayPal, and you can use $ or L or €. So basically there's no downside compared to your plan, but buyers are checked so you wont get swindled by PayPal buyer protection, and they are protected by their escrow service.
Btw I might be interested in some of your coins at that price.

bitmarket.eu does not accept $USD.
Obviously bitmarket.eu does accept USD. https://bitmarket.eu/market/USD

"It's not rich who got much, but who gives much."
frutza
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June 15, 2011, 08:17:59 PM
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stay away from paypal, unless you want your account frozen...
Houdini
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June 15, 2011, 08:39:58 PM
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There's no risk at all if you simply send a personal payment and don't mention bitcoins at all. Just say it's a repayment of debt or payment for services rendered or something.
Personally, I find PayPal's policy on virtual currencies offensive. I mean they're just a payment intermediary service, what right do they or anyone else have to dictate to me what I spend my money on (unless it's illegal, and bitcoins aren't at the moment) ? If I want to I can squander my money in the stupidest way possible, PayPal's got nothing to do with it !
That said, my PayPal account is important to me as I do a lot of online shopping with it, but as long as I don't volunteer the information (that I'm trading in bitcoins) to them I should be allright.
thallium205
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June 15, 2011, 10:28:55 PM
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There's no risk at all if you simply send a personal payment and don't mention bitcoins at all. Just say it's a repayment of debt or payment for services rendered or something.
Personally, I find PayPal's policy on virtual currencies offensive. I mean they're just a payment intermediary service, what right do they or anyone else have to dictate to me what I spend my money on (unless it's illegal, and bitcoins aren't at the moment) ? If I want to I can squander my money in the stupidest way possible, PayPal's got nothing to do with it !
That said, my PayPal account is important to me as I do a lot of online shopping with it, but as long as I don't volunteer the information (that I'm trading in bitcoins) to them I should be allright.

I believe it has to do with the fact that virtual currencies challenge their 100% fraud protection.  Through traditional channels, paypal has a means of recovering money from a thief.  However, virtual currencies such as Bitcoin would make that entirely impossible for them, thus potentially costing them tons of money with their theft protection guarantee. 
Houdini
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June 19, 2011, 04:08:02 AM
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I don't think fraud protection is the jist of it, the main thing is the competition from bitcoins as a potential universal means of exchanging money online. That could cost them a LOT more then fraud protection.
Bitcoin isn't a direct competitor to PayPal like Dwolla (because it can't transfer money from one bank account to another but only virtual currency from one file to another) but in the end it aims towards the same goal. It could replace PayPal both as a means of people paying merchants online and people sending money to each other.
So no wonder they're protecting their monopoly with bully methods.
frutza
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June 20, 2011, 05:40:06 AM
 #18

PayPal has the ability to build users graphs. If you trade with someone who was involved in a trade involving bitcoins (up to three degrees of separation I think), you become part of the graph. A few trades like these and they freeze your account...
Haz0
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June 20, 2011, 05:44:50 AM
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Use Dwolla, seriously.
HatlessCat
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June 20, 2011, 06:34:32 AM
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are you paypal verified?
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