Why do you need to be a licensed financial institution when Bitcoin isn't even a real currency?
PayPal is a US company and there are federal regulations about exchanges.
That being said, I refuse to use paypal.
Back before broadband was common, I use to make a little side money selling Linux CD's with official updates - described them as burned.
Then I had payments reversed even after proof of delivery.
PayPal explained it was against their policy to allow software to be sold on CDR and my web page clearly indicated I was.
Um, duh. And the buyer saw that too.
But OK, lesson learned, change the web page.
Then I bought Photoshop 5 and what arrived was a CDR with a warez code, seller claimed legit.
I tried to get refund. Clearly I should since it was both warez and a CDR, no?
No. Seller had proof of delivery. Since it wasn't described as either on his web site, my only recovery option was civil suit.
PayPal lost me as a customer forever, their system is clearly designed to allow crooks to rip off honest people in both directions.
Now granted, with BitCoin the warez dealer still would have gotten me, but the person buying my Linux CDs would not.
