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Author Topic: When something seems too good to be true...  (Read 1217 times)
wildboy211
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July 15, 2011, 04:59:18 PM
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I put some bitcoins on ebay (2.25 BTC @ $50 USD) - within 30 minutes someone purchases it. The buyer just created his ebay account today, and has zero feedback. He has already paid for the item, and he sent his bitcoin address in the comment section of the paypal payment. The buyers home address is in the UK (not sure if that matters or not). Im just worried about after i send the payment, he opens a dispute and says i never sent it. I already sent him a message asking if hes purchased bitcoin anywhere else and gotten feedback. What do you think is the next move i should make? Send him the bitcoin? Refund his money and relist the listing (which i will make it require buyers with a certain amount of feedback next time)?
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zerokwel
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July 15, 2011, 05:26:43 PM
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you sir are about to be scammed I would say. Over market price and well it sounds like its going to be a classic paypal chargeback.

They sometimes pray on the greedy.

I could be wrong. But if it was me I would not take the risk
wildboy211
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July 15, 2011, 05:32:41 PM
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you sir are about to be scammed I would say. Over market price and well it sounds like its going to be a classic paypal chargeback.

They sometimes pray on the greedy.

I could be wrong. But if it was me I would not take the risk

Not really being greedy, that about what most BTC sells for on ebay (around $20-25 per BTC), after ebay and paypal fees im only getting around $17 per. Im going to see what his response is first.
Trayber
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July 15, 2011, 05:37:04 PM
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I sold quite a few coins on ebay last month and I guess Im one of the lucky ones I never got any disputes. I also made it clear in my auctions that I only wanted sales from users with 10+ feedback ratings and even after that on the ones I felt uncomfortable about I did phone verifications and I didn't have one problem sale. Its possible the guy is legit but why take the risk. Ask him to cancel the transaction and refund his money if he sent it and relist if possible. But I already got a warning from eBay selling bitcoins is not allowed and to not put up any more auctions.
wildboy211
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July 15, 2011, 05:40:21 PM
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I sold quite a few coins on ebay last month and I guess Im one of the lucky ones I never got any disputes. I also made it clear in my auctions that I only wanted sales from users with 10+ feedback ratings and even after that on the ones I felt uncomfortable about I did phone verifications and I didn't have one problem sale. Its possible the guy is legit but why take the risk. Ask him to cancel the transaction and refund his money if he sent it and relist if possible. But I already got a warning from eBay selling bitcoins is not allowed and to not put up any more auctions.

How did you do phone verification?
Stephen Gornick
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July 16, 2011, 12:19:13 AM
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I already got a warning from eBay selling bitcoins is not allowed and to not put up any more auctions.

Interesting.

Also, incidentally, there is some useful info here:
 - http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Risk_of_fraud

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July 16, 2011, 12:35:33 AM
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Is there a time limit after paying for doing a chargeback on Paypal? If yes, then you could explain to the buyer that in order to avoid scams you need to wait for the payment to clear the time limit before sending them the stuff

(I dont always get new reply notifications, pls send a pm when you think it has happened)

Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

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Raoul Duke
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July 16, 2011, 12:49:51 AM
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Is there a time limit after paying for doing a chargeback on Paypal? If yes, then you could explain to the buyer that in order to avoid scams you need to wait for the payment to clear the time limit before sending them the stuff

tell him wait 40 days? LOL

wildboy211
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July 16, 2011, 01:17:45 AM
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Is there a time limit after paying for doing a chargeback on Paypal? If yes, then you could explain to the buyer that in order to avoid scams you need to wait for the payment to clear the time limit before sending them the stuff

tell him wait 40 days? LOL

Yeah, i just refunded his money and relisted - this time stating users must have 10+ feedback before purchasing.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290587682028
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July 16, 2011, 09:24:53 AM
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Is there a time limit after paying for doing a chargeback on Paypal? If yes, then you could explain to the buyer that in order to avoid scams you need to wait for the payment to clear the time limit before sending them the stuff

Almost like an Options Market.

if your going to accept paypal for btc
might as well set up a fake/temp paypal and ebay, take payment, cash it out some how, and dump the account when the first charge back hits.  At-least you can over get more than the current exchange rate, not sure what percent the laundering and chasing out will take up though. 

The scammers are probably looking for other scammers to take part in this sort of game, so neither party is getting scammed, and ebay/paypal take the losses.

E-bay has shit deals anyway for the most part, its littered with stuff from DHgate, or some other whole saler.  E-bay takes 9% then paypal gets 3%, how can you be competitive?  each could do just fine on 1%.  I was thinking of setting up some kind of site where used goods or maybe stuff from the scratch and dent / open box good deals was allowed, what e-bay seemed like origionaly, a good place for a deal.  Bidding Pond is doing that, and seems to be the most popular BTC auction site, wish it was more popular.


Set up the same thing..
http://bit.ly/btcrefs
Get more bitcoins.
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