How did 1 bitcoin sell for $10,000?

[ragingazn628]

http://www.ebay.com/itm/1-Full-Bitcoin-Sent-To-Your-Online-Wallet/161042374155?hash=item257edf9e0b

I don't get it?

[1714973550]

1714973550

[sbregar97]

That's crazy, it looks either set up, or someone is really dumb...
Wow, I might actually try to sell mine on Ebay lol..

[giantdragon]

Lucky seller... only if buyer will not realize his mistake and won't make a chargeback

[jaywaka2713]

Lucky seller... only if buyer will not realize his mistake and won't make a chargeback

Won't get his Bitcoin back either LOL

[naphto]

http://www.ebay.com/itm/1-Full-Bitcoin-Sent-To-Your-Online-Wallet/161042374155?hash=item257edf9e0b

I don't get it?

Easy money

[junglist.massive]

you can always earn some money on stupid people

[elasticband]

it had 38 bids

   m***f( 656)      C $10,000.00   
Jun-15-13 14:17:14 PDT

   k***9( 811)      C $10,000.00   
Jun-15-13 17:51:08 PDT

   k***9( 811)      C $5,000.00   
Jun-15-13 17:50:42 PDT

   k***9( 811)      C $1,000.00   
Jun-15-13 17:50:31 PDT

   k***9( 811)      C $600.00   
Jun-15-13 17:50:20 PDT

   f***d( 41)      C $360.00   
Jun-15-13 10:00:14 PDT

   h***i( 2 )       C $355.00   
Jun-15-13 06:15:27 PDT

   f***d( 41)      C $350.00   
Jun-15-13 06:10:54 PDT

   h***i( 2 )       C $350.00   
Jun-15-13 06:15:16 PDT

   h***i( 2 )       C $340.00   
Jun-15-13 06:15:12 PDT

   h***i( 2 )       C $330.00   
Jun-15-13 06:15:08 PDT

   h***i( 2 )       C $320.00   
Jun-15-13 06:15:04 PDT

   h***i( 2 )       C $310.00   
Jun-15-13 06:14:53 PDT

   h***i( 2 )       C $300.00   
Jun-15-13 06:14:24 PDT

   h***i( 2 )       C $290.00   
Jun-15-13 06:13:50 PDT

   h***i( 2 )       C $280.00   
Jun-15-13 06:13:44 PDT

   h***i( 2 )       C $270.00   
Jun-15-13 06:13:36 PDT

   h***i( 2 )       C $260.00   
Jun-15-13 06:13:32 PDT

   h***i( 2 )       C $250.00   
Jun-15-13 06:13:26 PDT

   h***i( 2 )       C $245.00   
Jun-15-13 06:13:22 PDT

   h***i( 2 )       C $240.00   
Jun-15-13 06:13:13 PDT

   h***i( 2 )       C $235.00   
Jun-15-13 06:13:07 PDT

   h***i( 2 )       C $230.00   
Jun-15-13 06:13:02 PDT

   h***i( 2 )       C $225.00   
Jun-15-13 06:12:58 PDT

   h***i( 2 )       C $220.00   
Jun-15-13 06:12:52 PDT

   h***i( 2 )       C $215.00   
Jun-15-13 06:12:45 PDT

   h***i( 2 )       C $210.00   
Jun-15-13 06:12:40 PDT

   h***i( 2 )       C $205.00   
Jun-15-13 06:12:35 PDT

   h***i( 2 )       C $200.00   
Jun-15-13 06:12:27 PDT

   h***i( 2 )       C $195.00   
Jun-15-13 06:12:21 PDT

   0***y( 0 )       C $190.00   
Jun-09-13 07:21:57 PDT

   f***d( 41)      C $190.00   
Jun-15-13 06:10:44 PDT

   a***a( 26)      C $179.00   
Jun-14-13 22:30:34 PDT

   p***n( 11)      C $141.53   
Jun-13-13 12:11:14 PDT

   i***q( 21)      C $135.00   
Jun-09-13 07:02:49 PDT

   a***a( 26)      C $129.00   
Jun-08-13 18:45:40 PDT

   i***q( 21)      C $128.00   
Jun-09-13 07:02:33 PDT

   m***f( 656)      C $120.00   
Jun-08-13 19:39:35 PDT

   Starting Price      C $111.00   
Jun-08-13 18:38:18 PDT

[jaywaka2713]

That is simply ridiculous. I'm considering doing this now, I'm just worried about chargebacks.

[elasticband]

how can 2 people bid $10,000? as noted in the list above....

[jaywaka2713]

how can 2 people bid $10,000? as noted in the list above....

   m***f( 656)      C $10,000.00   
Jun-15-13 14:17:14 PDT

   k***9( 811)      C $10,000.00   
Jun-15-13 17:51:08 PDT

Look at the time dude. Serious glitch.

[Welsh]

I'm saying it was set-up. It doesn't make any sense at all. Maybe they have asked their friends & family to bid, because they know it will become popular and shared through forums like this.
MAYBE, even hit the news. Most likely will.

[jaywaka2713]

I'm saying it was set-up. It doesn't make any sense at all. Maybe they have asked their friends & family to bid, because they know it will become popular and shared through forums like this.
MAYBE, even hit the news. Most likely will.

Most likely won't. There were BFL Single pre-orders that hit $40,000. Nobody knows too. This stuff doesnt go anywhere.

[groomsxxx]

Someone told me they believe that they were sending money to each other and using some online portal as a physudo escrow

[coinedBit]

right, it's just a fancy form of money-laundering using bitcoin and PayPal - you only need to offer an extremely overpriced product (1 btc at $ 10k) and two ebay accounts making sure that the right person will "buy" it, very convenient to shuffle PayPal funds around. It's a regular thing in the blackhat world, they're using tons of "temporary" PayPal accounts, that would normally have restrictions, i.e. regarding withdrawals - which is why you need to shuffle around funds using creative setups to finally obtain your money.

[n8rwJeTt8TrrLKPa55eU]

Jun-15-13 should be Jun-13-15.

Auction is actually from two years into the future due to an anomalous rift in spacetime continuum.

[dancupid]

right, it's just a fancy form of money-laundering using bitcoin and PayPal - you only need to offer an extremely overpriced product (1 btc at $ 10k) and two ebay accounts making sure that the right person will "buy" it, very convenient to shuffle PayPal funds around. It's a regular thing in the blackhat world, they're using tons of "temporary" PayPal accounts, that would normally have restrictions, i.e. regarding withdrawals - which is why you need to shuffle around funds using creative setups to finally obtain your money.

The eBay fees on this would be several hundred dollars.
If it's some sort of money laundering then why sell bitcoins? - they could have just sold a child's painting or anything - another toothbrush.
I suspect it's a hacked eBay account - the seller has only ever sold toothbrushes before.
Or maybe it's a crazy bidder with no intention of paying - then ebay will just refund the fees.

[harrapino]

I doubt the sellers involved. It dosnt make sense as dancupid said. I'm 100% it's a chargeback scam

[jaywaka2713]

I doubt the sellers involved. It dosnt make sense as dancupid said. I'm 100% it's a chargeback scam

Stupid PayPal. Just be like, "Ohmygod i bought this worthless digital code that didnt redeem and I accidentally bidz $10k please help I want chargeback."

I think chargebacks are stupid. People who are stupid with their money deserve to lose it.

[halfawake]

People are actually dumb enough to buy something for $10,000 that they can get for $100 elsewhere?  Wow.  I bet there are pretty high odds of a chargeback on this one though.

[i3lome]

The 2 $10,000 bids are not a glitch and easy to explain. One of the bidders Credit Cards or bank account was not approved. With purchases that large, you have to prove you have that much in your account.

Charge back will happen.

[Luciddd]

Money launder scam? Who knows.

[joulesbeef]

charge back.. keep the coin, profit.

[bitbryan]

I call bull

[Book]

Money launder scam? Who knows.

Yeah money laundering or it was a joke bid and won't be paid.

Can't chargeback paypal doesn't allow disputes for virtual goods.

[BurtW]

Can't chargeback paypal doesn't allow disputes for virtual goods.

Now that is funny.  Where have you been?  What planet are you from?

[keatonatron]

The winning bidder also could have been a hacked account or something. Their only activity for the past 30 days was this auction.

Two bids for the same amount happens all the time!

Person A places a max bid of $10,000, but since the highest current bid is only, say, $350, their current bid is set to $355. Then person B comes in and also wants to place a maximum bid of $10,000. Person A's bid is automatically upped to match, and tops off at $10,000. Since Person A bid first their bid wins, but stays right at $10,000 since that was their maximum. If they had bid anything over $10,000, it would have been raises above $10,000 to beat out person B.

That's one way you can tell if someone else's maximum is set to the same as yours. If you place your bid and the price is exactly what you put, yet the other person is still winning, that's their maximum and you can pass them if you up your bid just the smallest bit 

[MangoJ]

For that to be a chargeback the winner would need to pay $10,000C.  They will not.  Paperwork, taxes, fees, all for a changeback scam?  No.
This is someone just being a jerk and bidding high to screw over the seller, because they will never pay.  Therefore blocking that auction.
Perhaps a competing BTC ebay seller wanting to hinder the competition using a disposable ebay account to block.

No other theory works when you run the numbers.

[Book]

Can't chargeback paypal doesn't allow disputes for virtual goods.

Now that is funny.  Where have you been?  What planet are you from?

It's true, paypal officially doesn't get involved/accept disputes over virtual items. If you paid for something like an online game account or bitcoins and get ripped off, they won't accept your chargeback. Only way would be to claim it was unauthorised.

[MangoJ]

Can't chargeback paypal doesn't allow disputes for virtual goods.

Now that is funny.  Where have you been?  What planet are you from?

It's true, paypal officially doesn't get involved/accept disputes over virtual items. If you paid for something like an online game account or bitcoins and get ripped off, they won't accept your chargeback. Only way would be to claim it was unauthorised.

INCORRECT!
Call paypal.
Ask them.
They will tell you that if you sell digitally delivered (aka "Virtual goods") there is zero seller protection and any buyer can (and will) do a charge back.  Paypal will NOT help you in any way if the dollar amount is less than ___. 
If a customer uses a credit card to pay you via paypal, and does a charge back for digital, virtual, or REAL goods, even if you delivered virtual goods AND have a written receipt from the buyer saying they received it.  The buyer can do a charge back from the bank and you are fucked.  Paypal will tell you they cant do anything.  They could contact the bank and say "this was fraud, do not let the buyer complete the charge back" but they will not.

Fuck paypal!

I personally was ripped off selling Linden dollars, and another time some jerk pulled a charge back AND kept this $25 item I sold on ebay.  Paypal did nothing even though I had proof (tracking and a snail mail letter) showing it was delivered.

[BurtW]

Can't chargeback paypal doesn't allow disputes for virtual goods.

Now that is funny.  Where have you been?  What planet are you from?

It's true, paypal officially doesn't get involved/accept disputes over virtual items. If you paid for something like an online game account or bitcoins and get ripped off, they won't accept your chargeback. Only way would be to claim it was unauthorised.

Before you spout off "official" nonsense just spend 10 minutes searching this forum for the key word "PayPal" and you will find dozens of cases where your pal PayPal has done, allowed, and sided with someone who charged back after receiving Bitcoins in both physical and virtual form.

I myself sold BTC for PayPal only to have the USD I received taken back out of my account when PayPal froze the account of the guy who bought my BTC.  Luckily for me after a two month investigation PayPal did did finally give the poor buyer back all his (and my) USD and I did finally get my BTC back but only because the guy I sold the BTC to was honest and paid everyone back.

PayPal always sides with the consumer and against the vendor in any dispute.  Then the vendor (seller of the BTC) is screwed.

[bitcoinator]

The 2 $10,000 bids are not a glitch and easy to explain. One of the bidders Credit Cards or bank account was not approved. With purchases that large, you have to prove you have that much in your account.

Charge back will happen.

Sorry, I don't have much experience in ebay, but I am curious. Did the chargeback actually happen, is there a way for third parties to track it?

[BurtW]

The 2 $10,000 bids are not a glitch and easy to explain. One of the bidders Credit Cards or bank account was not approved. With purchases that large, you have to prove you have that much in your account.

Charge back will happen.

Sorry, I don't have much experience in ebay, but I am curious. Did the chargeback actually happen, is there a way for third parties to track it?

In this case the bidder who won the auction will probably just never pay.  No need for a chargeback if they just never pay for the item (and the seller just never ships the item because it does not get paid for).  If they do pay for the item by credit card or Paypal, get the item shipped to them, and then issue a chargeback request to PayPal or the credit card company claiming they never got the item (Bitcoin) then PayPal or the credit card company will claw the money back from the seller.

If the seller has already moved/spent the money the chargeback will simply result in a negative balance in their account and it will be up to the seller to fight the chargeback and attempt to prove that they shipped the item.

[MangoJ]

This is why Bitcoin is great!  No charge back bullshit!   

[bitcoinator]

In this case the bidder who won the auction will probably just never pay.

thanks for your reply. but we'll never be able to see it, or will we?

[BurtW]

This is why Bitcoin is great!  No charge back bullshit!    

Reversible payment forms (CC, PayPal, almost all forms of fiat money) are better for consumers, consumerism and (over) consumtion.

Fiat with its constant inflation above interest rates always punishes savers.

Bitcoin is better for vendors of goods and services, rewards savers and punishes consumers, consumerism and consumption.

The dark side of Bitcoin is the fraud.  If you pay for goods or service with Bitcoin and never get the goods or services you cannot simply go into your account and click a checkbox to get you money back (like you can do with a credit card).  The solution to this issue is trusted escrow agents and trusted vendors.

[BurtW]

In this case the bidder who won the auction will probably just never pay.

thanks for your reply. but we'll never be able to see it, or will we?

I am not sure about this.  What we can do is monitor the item on ebay and if you are really interested contact the seller directly and ask him what happens.

[Phinnaeus Gage]

The buyer left positive feedback: http://feedback.ebay.com/ws/eBayISAPI.dll?ViewFeedback2&ftab=FeedbackAsSeller&userid=fishcomatesk&iid=161042374155&de=off&interval=0&items=200

Exceptional Seller!!!   mafishco ( 656Purple star icon for feedback score in between 500 to 999)     Jun-18-13 16:44
    1 Full Bitcoin Sent To Your Online Wallet (#161042374155)   C $10,000.00   View Item

The buyer is also a Canadian seller: http://www.ebay.com/sch/mafishco/m.html?_nkw=&_armrs=1&_from=&_ipg=25&_trksid=p3692

And they both sell the same toothbrushes. What are the odds?

Here's my take: The newer seller account has built up his rating to spring a scam. He sold the Bitcoin to himself.

[Phinnaeus Gage]

Something smell fishy: fishcomatesk sold to mafishco, and both purchased from mandatar77 back in April.

http://feedback.ebay.ca/ws/eBayISAPI.dll?ViewFeedback2&userid=mandatar77&ftab=AllFeedback&rt=nc&myworld=true

Omg !!! The Fastest Shipping Ever. Excellent Customer Service.   Buyer: fishcomatesk ( 206Teal star icon for feedback score in between 100 to 499)     23-Apr-13 18:37
    Picture of Romanian Black Sea Beack and Watch Tower (#121099970112)   US $0.99   View Item
Positive feedback rating   Super Fast Shipping and Very Good Response.... Highly Recommended   Buyer: mafishco ( 656Purple star icon for feedback score in between 500 to 999)     23-Apr-13 18:35
    Picture of Romanian Black Sea Beack and Watch Tower (#121099970112)   US $0.99   View Item

All three are in Canada, but in different cities. Please note one of the feedbacks for fishcomatesk: http://feedback.ebay.com/ws/eBayISAPI.dll?ViewFeedback2&ftab=FeedbackAsSeller&userid=fishcomatesk&iid=161042374155&de=off&interval=0&items=200

Great Product, Quick Shipping (though not sent from location listed)   t.exeter ( 71Blue star icon for feedback score in between 50 to 99)     Jul-26-12 11:39
    3 Philips Sonicare ProResults Standard Replaceable Heads (#160846402229)   US $16.50

[Phinnaeus Gage]

And this is probably da guy, eh!: https://plus.google.com/103923990556190544216/posts

[MangoJ]

And this is probably da guy, eh!: https://plus.google.com/103923990556190544216/posts

What connection do you have to this so far apparently random guy on google+?

[ninjaboon]

And this is probably da guy, eh!: https://plus.google.com/103923990556190544216/posts

What connection do you have to this so far apparently random guy on google+?

I'm pretty stumped too. How is there a link with the eBay bid and this guy on google+. hmmm.?

[bitcoinboyscout]

I have a question about this topic... Selling virtual coins on ebay seems to be a big problem, but if you sell a paper wallet, could be a solution? sorry if my question is noob but Im still learning about it

[jaywaka2713]

I have a question about this topic... Selling virtual coins on ebay seems to be a big problem, but if you sell a paper wallet, could be a solution? sorry if my question is noob but Im still learning about it

There still is an opportunity to scam, as you can scan the paper wallet before you mail it. Ebay is just broken. Trading without escrow isnt secure at the least.

[Deathwing]

People are just weird.

[naphto]

Transaction was not validated (?)