WARNING: PAYPAL STARTED MASSIVE ACCOUNT BAN ON ANYTHING BITCOIN RELATED

[nitehawk]

now this should get interesting because ebay owns paypal ... if paypals not taking payments regarding bitcoin you can expect the same from ebay soon .

[1714150715]

1714150715

[1714150715]

1714150715

[1714150715]

1714150715

[1714150715]

1714150715

[FandangledGizmo]

Unfortunately illicit actors are using bitcoin to launder money and cash out stolen funds or credit cards.  If you don't know your counter party you could be complicit in this activity.

Regardless of how you FEEL about it, Anti-Money Laundering Laws exist and banks and payment processors like Paypal are under tremendous pressure from their regulators and auditors to mitigate these risks.

I'm not defending or condoning any activity.  

These are just fact of life in our "post 9/11" society.

False.

Even Fincen admitted at the Bitcoin discussions last year that illicit actors using an East European branch of Paypal to launder money for example was a much bigger problem than Bitcoin.

The last thing major criminals want is their black book of illegal transactions to be available and dissect-able on a global public ledger.

[Nathonas]

First they ignore you. Then they yell at you. Then they fight you. Then you win.

[jongameson]

can I still sell a 7950 video card on ebay??

is the thought that someone might actually use it to play video games too absurd?  u decide

[cooldgamer]

can I still sell a 7950 video card on ebay??

is the thought that someone might actually use it to play video games too absurd?  u decide

You'll be fine selling a GPU, there's a lot more uses for those than mining

[newguy05]

And the hammer drops, fuck you PayPal I did absolutely nothing wrong. How is selling a few collectible casascius coins on ebay make me a currency exchange.

Your account has been limited

----------------------------------------------------------------------
We need your help
----------------------------------------------------------------------


Hello xxxxx

We have reviewed your PayPal account and found that you are operating as an
e-currency dealer/exchanger including the sale of electronic media of
exchange (such as electronic money or digital currency). Per our current
Acceptable Use Policy for Money Service Businesses, PayPal may not be used
to operate a currency exchange, bureau de change or check cashing business
including the sale of bitcoin within casascius.

To continue using your PayPal account, we need some additional information
from you. Please provide us with the following:

  • Sign the electronic affidavit stating that you understand and will
comply with PayPal's terms and conditions.
  • A listing of the products and services you offer.
  • A detailed explanation of your business model.
  • A list of all URLs or websites that will be used to receive payments.
  • The type of payments you will send and receive, including the type of
goods or services you will accept payments for.

By agreeing to the electronic affidavit, you, on behalf of xxxx, do
affirm that you understand and will comply with PayPal's policy regarding
the use of PayPal Accounts to operate an e-currency exchange business. You
understand that PayPal may not be used to operate a currency exchange,
bureau de change or check cashing business. You further affirm that any
further detected violation of the policy may result in the immediate
closure of, or restriction to access to the account.

Please log in to your account and go to the Resolution Center to find out
what you need to do. Your account will remain limited until the issue is
resolved.

We look forward to hearing from you and thank you for choosing PayPal as
your business partner.

Sincerely,
Xxxxx
PayPal Compliance Department
PayPal, an eBay Company

Please do not reply to this email address as it is not monitored and we
will not receive your response. You can get in touch with us by clicking
"Contact Us" at the bottom of any PayPal page.

Copyright © 1999-2014 PayPal. All rights reserved.

[BCB]

First they ignore you. Then they yell at you. Then they fight you, Then They Arrest You, Then you win.

FTFY

[BCB]

Unfortunately illicit actors are using bitcoin to launder money and cash out stolen funds or credit cards.  If you don't know your counter party you could be complicit in this activity.

Regardless of how you FEEL about it, Anti-Money Laundering Laws exist and banks and payment processors like Paypal are under tremendous pressure from their regulators and auditors to mitigate these risks.

I'm not defending or condoning any activity.  

These are just fact of life in our "post 9/11" society.

False.

Even Fincen admitted at the Bitcoin discussions last year that illicit actors using an East European branch of Paypal to launder money for example was a much bigger problem than Bitcoin.

The last thing major criminals want is their black book of illegal transactions to be available and dissect-able on a global public ledger.

TRUE,

But banker read the Newspapers and Newspapers say bitcoin is TOTALLY ANONYMOUS and they are scared to death of the risks.

And many criminals and a lot of miss-informed individuals who post on here still believe their virtual currency activity is anonymous.

[nitehawk]

And the hammer drops, fuck you PayPal I did absolutely nothing wrong. How is selling a few collectible casascius coins on ebay make me a currency exchange.

Your account has been limited

----------------------------------------------------------------------
We need your help
----------------------------------------------------------------------


Hello xxxxx

We have reviewed your PayPal account and found that you are operating as an
e-currency dealer/exchanger including the sale of electronic media of
exchange (such as electronic money or digital currency). Per our current
Acceptable Use Policy for Money Service Businesses, PayPal may not be used
to operate a currency exchange, bureau de change or check cashing business
including the sale of bitcoin within casascius.

To continue using your PayPal account, we need some additional information
from you. Please provide us with the following:

  • Sign the electronic affidavit stating that you understand and will
comply with PayPal's terms and conditions.
  • A listing of the products and services you offer.
  • A detailed explanation of your business model.
  • A list of all URLs or websites that will be used to receive payments.
  • The type of payments you will send and receive, including the type of
goods or services you will accept payments for.

By agreeing to the electronic affidavit, you, on behalf of xxxx, do
affirm that you understand and will comply with PayPal's policy regarding
the use of PayPal Accounts to operate an e-currency exchange business. You
understand that PayPal may not be used to operate a currency exchange,
bureau de change or check cashing business. You further affirm that any
further detected violation of the policy may result in the immediate
closure of, or restriction to access to the account.

Please log in to your account and go to the Resolution Center to find out
what you need to do. Your account will remain limited until the issue is
resolved.

We look forward to hearing from you and thank you for choosing PayPal as
your business partner.

Sincerely,
Xxxxx
PayPal Compliance Department
PayPal, an eBay Company

Please do not reply to this email address as it is not monitored and we
will not receive your response. You can get in touch with us by clicking
"Contact Us" at the bottom of any PayPal page.

Copyright © 1999-2014 PayPal. All rights reserved.

Oh wow that sucks .. although reading this you would think it does have something to do with fincen  ( the whole know your customer bit)
but in the same breath they allow auctions on ebay.. and the FED is going to try and auction off bitcoin....

[URSAY]

Who killed BitMit ?   

[RodeoX]

Never use PayPal for anything involving bitcoin. It is just that simple. PayPal stands to be the biggest looser if bitcoin catches on. Why would they want to help us?

that is not true. they can implement your coin address to your paypal account just like u add debit/credit card. actually ill go as far to say that they are the ones who are able to gain most if they incorporate btc correctly. they have huge user base and they still need to pay the banksters % off every transaction.

Oh I think they could. It might turn out to be a big win for them. But right now their business does few things that bitcoin couldn't do better and cheaper. If people start sending money around the world and shopping online for pennies per transaction, PayPal is going to have to do something different.

Who killed BitMit ?   

One day they just announced they were done. 
No hack, or problem. They said something like "more professional sites should take their place".

[Phinnaeus Gage]

It's safer for PayPal to only deal with fiat since the transferring of such is done with some type of safe protocol consisting of zeros and ones, thanks to some punks.

Punks: We did it! Finally, a safe way to transfer money over the internet.
Future PayPal Owners: We're going to be rich!
Punks: Take a look at Bitcoin, PayPal.
PayPal: Get the fuck outta here!

[URSAY]

Never use PayPal for anything involving bitcoin. It is just that simple. PayPal stands to be the biggest looser if bitcoin catches on. Why would they want to help us?

that is not true. they can implement your coin address to your paypal account just like u add debit/credit card. actually ill go as far to say that they are the ones who are able to gain most if they incorporate btc correctly. they have huge user base and they still need to pay the banksters % off every transaction.

Oh I think they could. It might turn out to be a big win for them. But right now their business does few things that bitcoin couldn't do better and cheaper. If people start sending money around the world and shopping online for pennies per transaction, PayPal is going to have to do something different.

Who killed BitMit ?   

One day they just announced they were done. 
No hack, or problem. They said something like "more professional sites should take their place".

My understanding was that they were purchased (a second time) and were preparing to relaunch.  However, they've been down for a while now.   

Sorry to derail the thread.

[leopard2]

Paypal is so hypocritcal. Paypal is owned by Ebay and ebay itself allows people to sell miners, coins, etc but then once the transactions are all processed and stuff, they wanna ban the account and keep all the money to themselves.

Paypal is quite popular for banning a lot of accounts with $1000+.. they ask you to submit all kinds of documents, and still they won't activate the account for another 6 months. They freeze millions of dollars each year to earn interest on the money.

That happened to me years ago; luckily the amount was less than that.

Do not use Paypal, they are like a criminal organization, just without the violence

[runam0k]

Unfortunately illicit actors are using bitcoin to launder money and cash out stolen funds or credit cards.  If you don't know your counter party you could be complicit in this activity.

Regardless of how you FEEL about it, Anti-Money Laundering Laws exist and banks and payment processors like Paypal are under tremendous pressure from their regulators and auditors to mitigate these risks.

I'm not defending or condoning any activity.  

These are just fact of life in our "post 9/11" society.

All fine but what does that have to do with ASICs, ebooks, etc sold for fiat?

[BittBurger]

Demonstrates exactly why bitcoin is superior in the first place. Nobody to stand behind you telling you what you can & can't sell.

+1

Personal 100% control over your own money.

What a fucking concept.

[MTBmanTT]

Congratulations Paypal.

You've just publicly admitted - 'Oh F*ck we're obsolete!'

LuLz
--------------

This must be pretty recent, because I literally just purchased a miner from ebay, and paid via paypal like normal.  -whew!


EDit: add content

[EvilPanda]

I don't get one thing. According to the email they don't allow users to sell virtual curency, there's no word about mining equipment, but some people got suspended or banned for selling hardware.  

[URSAY]

I listed an item for sale recently on eBay which had bitcoin in the title.  I was informed that the item would only be listed in a specific category.  I removed the word bitcoin and I was able to list in the more relevant category of my choice.

[Meuh6879]

Who killed BitMit ?   

a bank.