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Author Topic: BTC, an alternative to Paypal?  (Read 1609 times)
PandaMiner
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March 15, 2011, 03:55:59 AM
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Hi.

I came to BTC as an alternative to paypal. 

I provide online services and get paid via paypal.  My account got locked up, and I need a new way for customers to pay me.  The question is, how can my customers and I use BTC for this purpose?

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

And most importantly, I want to be able to take my coins, and convert them back into my own currency. (USD)

Is there a way to do this?

Thanks.

My Litecoin address: Lf9WKM61AhmXchG2Ph2cftHKSQhxHutcdk
My Bitcoin address: 1Hwem4GSQWPCtBTKcSpXg2jYwxF6PtTjZx
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jgarzik
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March 15, 2011, 03:59:53 AM
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Well, there is CoinPal: Buy bitcoins with Paypal.

For a more complete list of currency exchanges see https://en.bitcoin.it/wiki/Trade#Currency_exchange


Jeff Garzik, bitcoin core dev team and BitPay engineer; opinions are my own, not my employer.
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MoonShadow
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March 15, 2011, 04:01:13 AM
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Hi.

I came to BTC as an alternative to paypal.  

I provide online services and get paid via paypal.  My account got locked up, and I need a new way for customers to pay me.  The question is, how can my customers and I use BTC for this purpose?

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins."  

www.mtgox.com

Quote
And most importantly, I want to be able to take my coins, and convert them back into my own currency. (USD)

Is there a way to do this?


Yes.

T.I.M.T.O.W.T.D.I

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
PandaMiner
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March 15, 2011, 04:46:50 AM
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Thanks.  Lots to read.

My Litecoin address: Lf9WKM61AhmXchG2Ph2cftHKSQhxHutcdk
My Bitcoin address: 1Hwem4GSQWPCtBTKcSpXg2jYwxF6PtTjZx
--> Have you tried Triplemining.com? <--
gigabytecoin
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March 19, 2011, 10:07:02 AM
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Well, there is CoinPal: Buy bitcoins with Paypal.

For a more complete list of currency exchanges see https://en.bitcoin.it/wiki/Trade#Currency_exchange



I would be REALLY wary of purchasing bitcoins via PayPal. They are quite trigger happy with their "banned account" reasonings. Seems to me that something like "Bitcoin" might be grounds for seizing your money. In their eyes at least.
mndrix
Michael Hendricks
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March 19, 2011, 04:31:37 PM
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I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

CoinPal's API can help automate this part for your customers.  It lets you fill in the CoinPal order form with your Bitcoin address and the amount of their order.  The customer only needs to provide their PayPal email address.  Since the coins go directly to you, your customer doesn't have to run Bitcoin software, if they don't want to.

You mentioned that your PayPal account was frozen, so this part might not help, but CoinCard's API lets you automatically convert Bitcoins into a PayPal payment.

Full disclosure: I operate both services mentioned above
mndrix
Michael Hendricks
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March 19, 2011, 04:37:45 PM
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I would be REALLY wary of purchasing bitcoins via PayPal. They are quite trigger happy with their "banned account" reasonings. Seems to me that something like "Bitcoin" might be grounds for seizing your money. In their eyes at least.

I've spoken to PayPal at length about CoinPal and they're fine with me selling Bitcoins this way.  They understand what Bitcoins are and the fraud risks associated.  Of course, this does not imply an endorsement from PayPal.  They may change their mind in the future, but they could do that with any service that accepts PayPal.
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March 19, 2011, 05:08:46 PM
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And how do you handle unjust chargebacks? Does PayPal sort it out in your favor or do you blacklist the scammer’s IP/PayPal-Mail and just swallow the loss?

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
mndrix
Michael Hendricks
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March 19, 2011, 06:55:53 PM
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And how do you handle unjust chargebacks? Does PayPal sort it out in your favor or do you blacklist the scammer’s IP/PayPal-Mail and just swallow the loss?

I try to prevent chargebacks from happening, but when they do happen, I swallow the loss as a cost of doing business.  That's about the only choice since PayPal makes no assurances about payments for digital goods sales.
Stephen Gornick
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March 19, 2011, 09:56:29 PM
 #10

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

If the reward is worth the effort, here's one method where credit cards are accepted for Liberty Reserve, which  can then be used to buy Bitcoins:
  http://bitcointalk.org/index.php?topic=4635.0

Anonymous
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March 20, 2011, 03:21:38 AM
 #11

We need to kick paypal and liberty reserve out of the middleman position.
see here for a solution-
http://bitcointalk.org/index.php?topic=4683.new#new
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