PayPal really needs to be shut down and replaced immediately

[beetcoin]

the giants are sleeping.. and let them. one day they will wake up and their kingdom will be gone  

bitcoin is a good hedge for the current financial service juggetnauts to stop treating consumers like shit. paypal won't admit it, but bitcoin threatens the very fiber of their business model.

[shamoons]

And the latest - my account is closed. Despite me doing everything that they asked, they closed my account:

Code:

We have reviewed your PayPal Account, and due to the excessive risk
involved, we would like to begin parting ways in a manner that is least
disruptive to your business.

-----------------------------------
Disbursement options
-----------------------------------

Option 1. If you owe refunds to any of your buyers, you can use the money
in your PayPal account to refund them.

To refund your buyers:
1. Log in to your PayPal account.
2. Click "Contact Us" at the bottom of any page.
3. Click the link under "Email us" to send us a refund request.

Option 2. Money in your PayPal account will be held for 180 days. After 180
days, we'll email you information on how to receive your funds.

We regret any inconvenience this may cause.

Sincerely,
PayPal Account Review

How nice of them to hold my money for 180 days.

[bitcoinpsftp]

Wow.  This is one of the most DISGUSTING things I've EVER SEEN!  WTF is wrong with them.  You were not dealing with currency exchange.  I mean, come the F on!  I can't believe you're not more upset (at least in your posts).  I'd be looking for someone to beat up with a stick.

Man, thanks for setting me 100% on NEVER EVER dealing with paypal as long as I live under any circumstances.

[niothor]

Reading this http://journal.crypto.st/
And seeing how you were bashing paypal in the past , well , you still went and use them.

" Paypal is famous for its lack of customer service and expedience when it comes to banning accounts for completely silly reasons.  Our CEO has been banned from Paypal for risk purposes and he’s the nicest guy alive."

Honestly , you deserved it.

[bitcoinpsftp]

Problem is that SO MANY people use paypal.  They have gotten huge, so if you wish to boycot them, they could really care less.  Oh well, their lack of customer service will be their downfall.  Maybe they are already looking to cash out and know what's coming, they can't be that blind to it.  Maybe these bans are just their last attempts to prolong their reign for as long as possible.  I mean, if they wanted to implement bitcoins, who would need them?  There's no longer need for a middle man like paypal.

[doom309]

best thing about bitcoin, getting rid of middlemen

[shamoons]

Reading this http://journal.crypto.st/
And seeing how you were bashing paypal in the past , well , you still went and use them.

" Paypal is famous for its lack of customer service and expedience when it comes to banning accounts for completely silly reasons.  Our CEO has been banned from Paypal for risk purposes and he’s the nicest guy alive."

Honestly , you deserved it.

Lesson learned. My next domain name sale, bitcoin.ag, is being done via bitcoin

[AuroraHF]

I haven't had any terrible issues with PayPal yet, their support are fine in my opinion considering I only contacted them once in regards to a transaction and me being limited due to using VPN. Other than that, their site is fine but that may be because I've been a member for 7 years.

[niothor]

Problem is that SO MANY people use paypal.  They have gotten huge, so if you wish to boycot them, they could really care less.  Oh well, their lack of customer service will be their downfall.  Maybe they are already looking to cash out and know what's coming, they can't be that blind to it.  Maybe these bans are just their last attempts to prolong their reign for as long as possible.  I mean, if they wanted to implement bitcoins, who would need them?  There's no longer need for a middle man like paypal.

What is bitpay? blockchain wallet?  the rip inputs.io ?
Paypal will survive , don't worry for them.

[monkeybars]

Complain all you want, but at the end of the day it's your fault for not requiring the buyer to pay in Bitcoin.

Perhaps you've learned your lesson now.

[ArticMine]

I stopped using PayPal for domain sales back in 2006. Never had any problems with PayPal, but there are just to many horror stories such as the OP's for my comfort. Currently for domain name sales I give the purchaser the option of:
1) Bitcoin with no additional fees
2) Escrow.com with escrow fess to be paid by the purchaser.
For larger sales I have also accepted wire transfer.

For the OP I would suggest to contact SEDO and ask them to pay you by another means (offer them a choice of Bitcoin or wire transfer) after you issue them a refund via PayPal back to SEDO. If SEDO refuses after escalation I would suggest to contact an attorney for legal advice. The way I see this a promise to pay by PayPal in six months is not legal tender.

By the way situations like this help explain why Bitcoin is trading at over 1000 USD per BTC and it is not just speculators.

[LostDutchman]

People, the prohibition against using Paypal for certain financial activities has ALWAYS been in Paypal's Acceptable Use Policy!

It has been there for all to see all along!

https://www.paypal.com/us/webapps/mpp/ua/acceptableuse-full

(3)relate to transactions that (a) show the personal information of third parties in violation of applicable law, (b) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs, (c) are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card, (d) are for the sale of certain items before the seller has control or possession of the item, (e) are by payment processors to collect payments on behalf of merchants, (f), are associated with the sale of traveler's checks or money orders, (h) involve currency exchanges or check cashing businesses, or (i) involve certain credit repair, debt settlement services, credit transactions or insurance activities."

No one should be surprised!

The moral of the story, though the story's kind of gory is....................

DON'T USE PAYPAL FOR ANYTHING EVEN REMOTELY RELATED TO BITCOIN OR ANY OTHER CRYPTOCURRENCY!

Not now, not ever, NEVER!

And don't get mad at service providors, manufacturers and those who deal in anything related to Bitcoin and crypto for refusing to accept Paypal!

My $.02.