SO ANGRY ebay no protection for crytocurreency sellers LITECOIN

[snoogans310]

hi all,

just had a paypal dispute go against me. i know ebay is probably not the best way to trade cryptocurrencies but a couple of weeks ago i needed the money and litecoins were going stupidly high on ebay and so sold a few for £240. i sent one coin to the the buyer they sent me confirmation so i sent the rest. later i looked on paypal and the buyer had started a case against me claiming the paypal account was used without their permission.
wish i had known about the penny auctions now. i messaged the buyer a few times but never heard nothing. the ebay members account was active from 2005 and had plenty of modern feedback.

i gave as much evidence as i could to paypal, screen grabs of the transaction from my litecoin wallet, the message saying they had received the first coin. despite this ebay/paypals stance on this is if your selling an intangible item you dont have any protection.

logged in to my paypal account this morning and i noticed the dispute had ended and the money had been returned to the seller, i wasnt surprised but still very frustrated. i rang up paypal explained the situation and was just told about their stance on intangible items. i said "so is their anything stopping me doing the same thing, buying some litecoins on ebay then doing a charge back. the lady told me basically no because of the loophole.
she did however say if i believed that the buyer had received the litecoins then i could go to the police get a crime reference number and they would be happy to assist.


Transaction ID: f79826ea27c5f4dcba683da716188c8f1672059d26db21a746b4c58db08262f2

i have the transaction number. this is my litecoinwallet address LN8e9QVx7es39KmSwtfnwaYYjNdibK3fXc just wanted to know if their was any other way i could use it to prove the transaction like a block explorer or even get the coins back.

has anyone else had a similar experience. please let me know how you got on.


 

[lonesoul]

I used to run an online game and sold various items in the game via paypal, on a couple of occasions the people buying would file a dispute claiming they never received the items or the account was used against their wishes and they would always win the dispute - Paypal seemed to class digital goods as non items. it didn't matter to them the proceeds of the item went to pay for the servers to host the games they loved to play....

its a shame but until paypal change their policies there is not a whole lot you can do.

I recently tried to get a refund for my BFL miners that hadn't arrived after 9 months, paypal said they only have 90 day protection policy, even on pre-orders!

their systems are screwy their support is crap and generally im starting to avoid them.

sorry to say but i think you have probably lost out :-(

[TBCM]

I'm hearing on the distance a troop of people from this forum running to eBay, bidding ridiculous amounts of money for the cryptocoins being sold and then not paying.

[Jamievs]

It is sad shit like this is happening in general 

[cryptasm]

Ebay is a minefield but you can reduce your risk a bit. When I sell cryptos on there, I only sell to users with verified paypal accounts and only send coins once they have texted or called me from their ebay registered phone number. That normally weeds out a lot of potential scammers/hackers etc.

[NUFCrichard]

This is why I refuse paypal.  I am sure I lose buisiness but there are too many scammer and plain theives out there.

[perhan007]

Make it different: Sell a shitty picture painted by you in a minute and add that the buyer can have 1 Litecoin to the picture as well if he likes for free. Send the picture with registered mail to the buyer once you received the money = no more paypal disputes.

[miffman]

Sell it with something physical, might not be as appealing and easy to sell, but it's way more secure.

[snoogans310]

thanks for everyone's comments, i will definitely use your advice in the future.

ebay should really change their policy their will always be some people who want sell their coins on ebay to make some quick cash but at the moment ebay dont care about these people so it isnt safe.

i'll post here if i manage to get anywhere with the police.
its a long shot but worth a try. 

[MicroGuy]

Sell it with something physical, might not be as appealing and easy to sell, but it's way more secure.

This is good advice.

http://www.coindesk.com/ebay-loophole-virtual-currency-transactions/

[NUFCrichard]

If you sell and don't accept Paypal, what happens if the person disputes the transaction?
They can't get their money back, but can they ruin reputations?

[MisO69]

My take on the Crypto world is that it attracts many criminals. I can only imagine what they must think when they find out about money that cannot be traced. 

[cryptasm]

Sell it with something physical, might not be as appealing and easy to sell, but it's way more secure.

This is good advice.
http://www.coindesk.com/ebay-loophole-virtual-currency-transactions/

Interesting, wonder if the same applies to Ebay in the UK

[this1dude]

This is why I refuse paypal.  I am sure I lose buisiness but there are too many scammer and plain theives out there.

what he said... 

meanwhile, a thief is trying to build a community around his scam coin.  Have a read and take the poll, stand up for justice.

https://bitcointalk.org/index.php?topic=365734.new

[snoogans310]

just found out that apparently the ebay account used to purchase the litecoins from me had been taken over so the ebay member had all their transactions cancelled, i was told ebay have knowledge that this happened. i will try to found out how they came to this conclusion. who would be responsible if this were the case.