CoinPal beta - Buying bitcoins with PayPal

[Darth Severus]

Ah here is the discussion I hoped to start here:http://bitcointalk.org/index.php?topic=7069.msg103412#msg103412, I made a list with all options I know.

[schnak]

https://squareup.com/ might be an option for accepting credit card payments.... the logistics of actually doing it are a little beyond what my brain is willing to handle at the moment but it presents a path that may be walkable.

[dacoinminster]

https://squareup.com/ might be an option for accepting credit card payments....

Actually, I just realized that you can buy bitcoins with your credit card right now on the ebay auction I linked to, if you are in the U.S.

[Longmarch]

https://squareup.com/ might be an option for accepting credit card payments.... the logistics of actually doing it are a little beyond what my brain is willing to handle at the moment but it presents a path that may be walkable.

Squareup looks like it might be pretty awesome, just in general.  At first glance at least.

Wrt Bitcoin, it could be excellent for face-to-face transactions.  Swipe the card, wait for the money to clear, use your phone to send the bitcoins.  Though, I can't imagine how there would be a significant amount of business for someone selling bitcoin in the streets like that.

[rabit]

Liqpay is also a good credit card payment processing service.

[schnak]

I use square for my tech support business, it works as a good platform / example of how the transaction process might be able to work with a bitcoin wallet app. Either it does not require that you have the card, you can manually key in the CC info as well. Square has no idea what was bought, your CC company won't see the transactions as bitcoin.

But then who is going to email their CC info? I would hope very few unless they were using onetime use cards.

[Stephen Gornick]

Squareup looks like it might be pretty awesome, just in general.  At first glance at least.

Wrt Bitcoin, it could be excellent for face-to-face transactions.  Swipe the card, wait for the money to clear, use your phone to send the bitcoins.  Though, I can't imagine how there would be a significant amount of business for someone selling bitcoin in the streets like that.

Since a chargeback against a credit card transaction is easy, I don't know that this would be an option for selling bitcoin "in the streets", though I suppose for friends and family it might be suitable.  2.75%.  No different than using PayPal, except that PayPal has the "personal / gift" option where no fees are incurred by the recipient.  AmEx's Serve is another credit-card + ACH based payment network similar to PayPal, and for now (through August, 2011) they charge no fees to either the sender or the recipient.  

Again, if you trust that you won't get charged back, these all work fine for person-to-person payment methods.

  http://squareup.com
  http://gopayment.com
  http://serve.com
  http://dwolla.com

There's a good list of options being built here: http://bitcointalk.org/index.php?topic=7069.0

Exchanging in and out of bitcoins for each transaction certainly gets to be expensive though.

[Intermediary]

I'd just like to thank you for your support in helping me to get some of my first bitcoins.  The transactions were always swift and without hassle.

[marcus_of_augustus]

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...

I agree.

[chaostheory]

So is there any way to actually get my money from bitcoin account? Actually I need this money asap and since I can't just 'start an order' I need to say I'm pretty screwed

[Meni Rosenfeld]

So is there any way to actually get my money from bitcoin account? Actually I need this money asap and since I can't just 'start an order' I need to say I'm pretty screwed

What do you mean by "get my money from bitcoin account"? Do you have bitcoins you wish to send to someone?

[fetokun]

Did you took a look at http://www.bitcoincashout.com/ ?

there is a bunch of others: https://en.bitcoin.it/wiki/Trade#Currency_exchange

[Anonymous]

So is there any way to actually get my money from bitcoin account? Actually I need this money asap and since I can't just 'start an order' I need to say I'm pretty screwed

How many do you have ?

[AntiVigilante]

What a bunch of cunts!

What if this community decided to put their paypal accounts where their mouth is and gave you their own account to operate coinpal with. Is it even feasible? If so, how many frozen paypal accounts do you think it would take for them to reverse the policy?

PM me if you have ideas. Very serious about what you said, but a different strategy in mind.

[sverre]

What about Western Union?

If I can use my W.U. online account to send money to someone in China, who then picks up in cash, they've clearly addressed the fraud charge-back thing (I think they ring you to confirm the transaction). Could CoinCard use WU instead?

[TiagoTiago]

Don't they charge like 50 bucks for international transfers?

[Meni Rosenfeld]

Don't they charge like 50 bucks for international transfers?

Yes. (I was quoted $45 for transferring $1000 from Israel to US by MoneyGram). WU is the polar opposite of CoinCard (which was about instant, cheap, easy cashout for small to medium amounts). BitcoinExchange offers cashing out bitcoins for WU.

[Darth Severus]

Western Union is expensive, it makes sense for big transfers but not for small. There is also Moneygram as alternative.

[matteumayo]

Glad to hear you might just send it using debit cards.

I think that'll be a better long-term plan, and most people already have one.

Please update us with any new info! I'll probably not sell btc for a while, but when I do hopefully you get this working again! 

[BCEmporium]

Actually we could create a "Western Union" ourselves, doing e-transfers by BTC and local by cash.
Eg:

A is in US and needs to send 1000 US to B that is in China
A contacts C who deals with BTC - OR - A himself has a 1000USD worth of BTC
A/C sends the BTC to the Chinese local operator who delivers the money to B.

Alternative paths would include:

A buying 1000USD worth of BTC from C and send them to the Chinese operator

A sending BTC to B who cashes them out with the Chinese operator

This would need just a bit of organization to put forth, along with ways to contact the needed operators.