A quick tip of my own: You can have 2 Paypal accounts of your own.. so long as one is personal and the other is premium or higher (the point is, both can be free). This may be useful for your further testing purposes.
Thanks for the tip! But I am not so sure that Paypal likes very much the fact that a single user had more than one account. For testing puporses I have been using the Paypal's sandbox, which emulates *quite* well Paypal's production environment.
The intention of my post however is to ask if you have an alternate way of confirmation besides PIN by cell phone. I for one do not use of them sorts of location tracking machines.
Do you allow for one on one communication and trading on that level?
Example: Buyer sends email to sales@yourdomain, seller sends paypal invoice with "hall of fame" or what have you. Buyer pays invoice and seller sends BTC.
I suppose that method removes some of the anonymity of the system but that's the price you pay.
The method you proposed will perfectly work, but if I understood well, it would be vulnerable to scammers. Nowadays is very easy to create fake email accounts, and so a fraudulent client could ask the invoice, pay it with a stolen Paypal account (not long ago there was a list of thousands of Paypal accounts and its passwords made public, and thus I assume that everyone can find it with a simple Google search) and run away with the bitcoins. And nothing would prevent him to use another email account five minutes later.
I would prefer not to ask for the mobile phone number, but that (a) ensures that the user is the owner, or at least has physical access to the device and (b) sending it along with the invoice prevents a scammer to use a stolen account.
Do you think selling entries into the HOF ledger could be used to dispute a charge back?
(imho you should pretty up your site a bit, throw some illustrations or pictures in there)
The management of chargebacks is not a trivial issue. Those of you how haven't asked for a PIN yet won't have notice that in the second screen it says "IMPORTANT NOTE: The phone number you entered will be shown in Paypal's receipt. Think twice before proceeding if you are not the owner of the account. Your phone number will NEVER be shown in the Hall of Fame.".
Nice:) Looking forward to see more:D
Thanks! The first time I read your post I read "Nice looking
". But then I assumed that my design sucks
I think I missed something here. Currently 1 Unit costs $10. Is one unit equal to 1 BTC. If so you're more than $3 more expensive than the current market. Just curious if I got that right.
dynamic price - no (
OK, I catch it!
I had to set a minimum price, the price I payed for the coins at the moment I bought them. Now that the market is down I have two choices, to stop selling until it rises again or to sell at a minimum price. I've decided to keep the service and let you decide. Considering that the owner of btcnow.net used to sell at $18 (who, by the way, seems to have problems with Google checkout. I'd like to contact him, but I cannot see a single email address in the whole site, maybe he reads this forum
) there might be users interested in instant BTC.
(btw: secure hole: do 10 purchases for 0.01, get max limit - buy all - withdraw money. Maybe, limit should be % of all prev purchases, like 120%).
Very relevant point! Actually I have been thinking on a system like the one you propose, but finally I decided to go on with the number-of-purchases limit. In order to explain my reasons let's consider the types of fraud I deal with:
1) People whose Paypal account OR credit card has been stolen
- That can be addressed by sending the mobile phone number with the invoice. In such way Paypal will have access to a working phone number to start the investigation.
- In addition, the limit of 24 hours after each purchase will allow the real owner of the account to realize that it has been hacked when the damage is still minimal.
2) Fraudulent users using their real names, credit card and Paypal account.
- They can work on a reputation by doing honest transactions. Even if the limit is increased with the quantity purchased, they will try to scam me when it is reached (it doesn't really matter if he had to spend 100€ or 10€ to reach it). But since there is an absolute limit, when raising the chargeback the scammer will have to explain some points:
-> Why does he say that he is not in the Hall of Fame when this list is public and both the address and the amount are written in the Paypal invoice?
-> The fact that he has done several satisfactory transactions (in order to reach the limit) gives poor credibility to his version.
So, in short. The scammer will have to argue for some long time, with probability of losing and the certainty of not making business with me anymore and all that to win...10 BTC?
Thanks again for your time considering my service! According to some posts in this thead there are users who have already purchased Bitcoins and seem happy with the service
So don't hesitate to try it!