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Author Topic: CoinPal beta - Buying bitcoins with PayPal  (Read 144069 times)
Meni Rosenfeld
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May 01, 2011, 04:30:33 AM
 #261

This is absolutely dreadful! Especially wrt CoinCard. How are we supposed to convince mainstream shops and organizations to accept bitcoins now?

mndrix, thank you for making available this wonderful service while it lasted.

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May 01, 2011, 04:44:30 AM
 #262

I think alertpay has a tos section about not using it for ecurrency exchange.



What if we came up with a code word for bitcoins and called then carrots....

Would paypal stop you selling carrots at carrotpal ?
 Cheesy


JJG
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May 01, 2011, 05:15:04 AM
 #263

I think gift cards to major e-tailers is the way to go. Especially for e-tailers who allow you to stack as many gift cards as you have.

I'd trade bitcoin for Newegg credit in a heartbeat.
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May 01, 2011, 05:15:45 AM
 #264

I'm pissed  Sad

Let us know what we can do to assist.  

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May 01, 2011, 05:56:15 AM
 #265


So it begins, the first shot is fired in the bitcoin wars.

PayPal can go pound sand ... they have shown their true colours ... kind of knew that after the wikileaks fiasco.

So much for hip new internet business PayPal are just suck up toadies to the corrupted old money power elite establishment ... losers.

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May 01, 2011, 06:31:04 AM
 #266

PayPal, owned by eBay, is in the middle of their third class-action for defrauding customers and freezing accounts.

Regardless of whether or not the department that gave you permission to trade BitCoins was authorized to, you have their permission.  In commerce law, this is referred to as "principal and agent".  The agent (say a teller at a bank) is understood to represent the principal (the bank manager) and vice-versa.  If they misrepresent, it's the bank that must keep its word to you - not you that must be inconvenienced by the bank.  Same goes here.

As for "This limitation cannot be appealed", they mean within PayPal's internal faux-court.  In PayPal's EULA, there is a proviso which requires you to agree that, in the event of a dispute with PayPal, you agree to forfeit your access to a real court and must instead seek remedy exclusively through a hearing comprised of PayPal staff.  In 1992 a real court ruled that PayPal couldn't include that proviso, because it fraudulently convinced Paypal users that they had no access to real courts as a result.  Last I checked a few months ago, the proviso was still in PayPal's EULA despite the court ruling.

You have a strong case, and PayPal has left itself wide open in its flagrantly abusive practices.  You might come out of this financially ahead given punitive damages, and what's more a lawsuit against PayPal would be effective material for a press release.  News coverage would certainly be free advertising, and in this case such a venture would actually make it advertising that paid you instead.

Submitted for your consideration.  Be well.

Please do this! You will make me a happy man. Cheesy
PayPal Class-Action Lawsuit information

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May 01, 2011, 06:33:38 AM
 #267

Moneybookers might be a solution, it functions much like paypal, it has an e-wallet and allows payment by credit card.
However they locked out Wikileaks months before Paypal did, so who knows how tolerant they would be of BitCoin?

Another possibility could be Click and Buy, http://clickandbuy.com/ , not looked at them in detail, but I used them once to pay something by credit card.
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May 01, 2011, 06:42:56 AM
 #268

Got this "Loadavg too high due to ddos, please retry in ~5 min" when I tried MtGox.   Sad
mewantsbitcoins
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May 01, 2011, 06:44:16 AM
 #269

mndrix, I just realized that you and your site built up such a good reputation that you could try taking Credit/Debit card payments. As recent events show, community support is everything and you've earned every bit we can provide.

Please don't abandon this project
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May 01, 2011, 07:04:08 AM
 #270

I'd vote against AlertPay, though I will openly admit that this is because they cut off funds to a site I support for (what I consider to be) stupid reasons, and they didn't allow the site-owner to withdraw the funds in his account after they cut him off.  So I'm possibly biased.
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May 01, 2011, 07:56:26 AM
 #271

the thing is, there are several countrys that now they cant do anything...

for example in my country if someone wanted to make some money and buy a better mining rig, the only way was using Payoneer card... with by itselft is a very indirect way, the only way to load a payoneer card is trough PP, so there is nothing now.

After the scam with the "liberty dollars", i dubt any company will accept bitcoin marketing.

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May 01, 2011, 08:38:39 AM
 #272

This will make small BTC --> USD conversions extremely difficult.  Sad  I need the money to pay off loans, not to buy things from retailers!  Gift cards do me no good.  Sad
fellowtraveler
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May 01, 2011, 08:42:48 AM
 #273


The effect of cutting Bitcoin exchangers off of Paypal: 

1) Users will still trade Bitcoins for Dollars.

2) But now they will be individually paypalling those dollars to each other, instead of using a central service.

3) Seems to me that if you have a supercomputer, and you have access to Amazon's transactions, and you have access to the block chain, then this move makes it suddenly much easier to associate block chain transactions with paypal transactions.

4) Basically if this came from higher up, the purpose was to make the block chain traceable.

5) Anyone receiving dollars in Paypal has a verified identity, taxpayer ID, bank account, etc.


I think it's time for Bitcoin aficionados to consider anonymity layers...

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May 01, 2011, 08:45:08 AM
 #274

otc needs a web interface. irc isn't for everyone  Tongue

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May 01, 2011, 08:54:25 AM
 #275

I'd vote against AlertPay, though I will openly admit that this is because they cut off funds to a site I support for (what I consider to be) stupid reasons, and they didn't allow the site-owner to withdraw the funds in his account after they cut him off.  So I'm possibly biased.
+1

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May 01, 2011, 08:57:11 AM
 #276

How can Europeans get their BTC converted now that CoinCard is down? I'm expecting to have 100 BTC by the end of May.
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May 01, 2011, 10:11:27 AM
 #277

otc needs a web interface. irc isn't for everyone  Tongue

BitMarket.eu is going to become one in a week or so, we have already spoken about that.

EDIT: Some major changes are being done to the website, including incorporation of the otc-ratings.

Bitalo.com coming soon!

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May 01, 2011, 10:14:09 AM
 #278

@mndrix if you end up filing a lawsuit against Paypal I will be more than happy to toss a few thousands of BTC to support your case (or EUR should that be more useful).

Bitalo.com coming soon!

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May 01, 2011, 11:36:34 AM
 #279

Have you considered accepting Ukash/PaySafeCard/Wallie/other prepaid vouchers in exchange for bitcoins? These are anonymous already (in general) and at least in Europe you can easily buy them in physical stores, although I am not sure about the US.

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May 01, 2011, 11:39:40 AM
 #280

From the little I understand, I don't think mndrix's service can scale very well unless he can exchange in both directions.

Reloadable debit cards come to mind, though you have the problem of getting one into someone's hands.

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