BADecker
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February 05, 2014, 03:45:51 PM |
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If this is a surprise, you did not do your due diligence. Paypal has acted this way for a decade for less risky items than BTC.
Ebay, ok. Paypal, wtf people?
PayPal stole a lot of money from e-Gold users way back. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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newguy05 (OP)
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February 05, 2014, 04:00:58 PM |
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If this is a surprise, you did not do your due diligence. Paypal has acted this way for a decade for less risky items than BTC.
Ebay, ok. Paypal, wtf people?
i have been doing due diligence while you are still in diapers, paypal has largely ignored and allowed physical bitcoin sales until beginning of this year when some kind of new policy triggered a massive account review on everything bitcoin related that's considered high value sales, including physical coins. ----------------- Also guys as much as i appreciate the suggestion to sue, it is not practical. The amount of resource and time you need to allocate to even get a hearing against those large companies with a full legal team of lawyers/ops is not realistic financially for the average person even if you have the means, considering the return even if you win - risk/reward. Your best bet is file with the BBB and hope the company will take action, i did that once against ebay with good success, cut through all the low level zombies and talked to one of their veepees who promptly resolved the issue. I agree though ebay and paypal are like the modern day gangsters, can kill your business with 1 shot and no apparent reason, all sellers live in fear of them.
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pungopete468
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February 05, 2014, 05:39:31 PM |
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If this is a surprise, you did not do your due diligence. Paypal has acted this way for a decade for less risky items than BTC.
Ebay, ok. Paypal, wtf people?
i have been doing due diligence while you are still in diapers, paypal has largely ignored and allowed physical bitcoin sales until beginning of this year when some kind of new policy triggered a massive account review on everything bitcoin related that's considered high value sales, including physical coins. ----------------- Also guys as much as i appreciate the suggestion to sue, it is not practical. The amount of resource and time you need to allocate to even get a hearing against those large companies with a full legal team of lawyers/ops is not realistic financially for the average person even if you have the means, considering the return even if you win - risk/reward. Your best bet is file with the BBB and hope the company will take action, i did that once against ebay with good success, cut through all the low level zombies and talked to one of their veepees who promptly resolved the issue. I agree though ebay and paypal are like the modern day gangsters, can kill your business with 1 shot and no apparent reason, all sellers live in fear of them. You don't have to sue them but you should write a letter to the State Department of Financial Services and ask that they investigate PayPal.
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Repunza
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February 05, 2014, 07:14:01 PM |
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I have had 3 charges reversed by paypal the last couple of days. I sold Peercoins on ebay after I sent them and gave TXID. Paypal reversed the charges back to the buyers account. They forced me to sign an affidavit in order to have access to the rest of my money.
We have reviewed your PayPal account and found that you have been involved in the sale of electronic media exchange (such as electronic money or digital currency). Per our current Acceptable Use Policy for Money Service Businesses, PayPal may not be used for currency exchange including the sale of Unobtanium and Peercoins.
To continue using your PayPal account, we need some additional information from you. Keep in mind that we have placed a limitation on your PayPal account, and this limitation will remain until we receive and review this information. Please remove PayPal from all auctions involving prohibited items
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solarflareq
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February 05, 2014, 10:00:53 PM |
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You would think paypal would welcome the incoming revenue considering the fee's they charge people its like a licence to print $ for them.
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Dps23
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February 06, 2014, 01:56:40 AM |
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You would think paypal would welcome the incoming revenue considering the fee's they charge people its like a licence to print $ for them.
terrible do you think thats why BTC drop down in value from $920 to $820 during last hour?
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dmcl
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February 06, 2014, 08:42:05 PM |
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has anyone selling GHS redeem codes for cex.io had any problem with paypal yet? still appears to be just as many GHS listings as there was over a week ago.. including mine ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) though i am starting to get weary of continuing to sell GHS using my long standing ebay/paypal accounts so i may just start another ebay and paypal account so that in a worst case scenario its only whatever money is in the new paypal account and a new ebay account that gets shot down rather than my original account with 100% over 12 months and 857 feedback. that said, im sure my 100% and 857 feedback helps people in their decision to purchase from me.. i could potentially lose sales with a new account so its a gamble either way.
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slowlyslowly
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February 06, 2014, 09:04:45 PM |
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I love the concept of bitcoin but in the business world (and bitcoin is in that) if you start up something that another company sees as a threat you have got to expect them to react even if some of the reaction is a bit silly at the margins as some of paypal stuff is.
whether or not those established in a industry can get a piece of the new action and not loose much market share in the existing businesses dictates how much fighting they will do. bitcoin has a long way to go before we see how it handles the regulatory and business hurdles it faces. the big fights are yet to come. this first line of attack from pay pal is just smudging your mascara. wait until your nose is really bloodied.
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dmcl
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February 06, 2014, 09:26:40 PM |
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yea i think there will definately be more to come from other payment provider type juggernauts. when the GHS on ebay thing dies out ill be keeping BTC and fiat currencies away from each other unless when trading using a safe medium or buying BTC via my bank account.
i wonder if/when we will see banks starting to behave like paypal is behaving at the moment?
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Welsh
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February 06, 2014, 09:27:46 PM |
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I refuse to use paypal because they have always been a very dodgy company and haven't really been very loyal to it's customers, I always read that people keep getting their accounts frozen. Once I found out about Bitcoin I totally forgot about paypal and other payment processors and haven't used paypal since.
As more stores and online stores are accepting Bitcoin I doubt many people will find the need to use Paypal and Paypal will soon change their mind about this policy if they want to keep their customers.
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dmcl
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February 06, 2014, 09:45:13 PM |
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i would seriously consider ditching paypal myself but for ebay.. paypal is the single largest payment method on ebay which is the main reason i still use it.
also i take paypal payments for performance chips i sell for select older car ECU's and its kind of handy for that as you dont need facilities to process credit cards and all that which would eat into any profits you make. saying that though i have added a bitcoin accepted here image and QR code on the website, however, im weary of adding them to my ebay listings.
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LostDutchman
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February 06, 2014, 11:56:41 PM |
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I have had 3 charges reversed by paypal the last couple of days. I sold Peercoins on ebay after I sent them and gave TXID. Paypal reversed the charges back to the buyers account. They forced me to sign an affidavit in order to have access to the rest of my money.
We have reviewed your PayPal account and found that you have been involved in the sale of electronic media exchange (such as electronic money or digital currency). Per our current Acceptable Use Policy for Money Service Businesses, PayPal may not be used for currency exchange including the sale of Unobtanium and Peercoins.
To continue using your PayPal account, we need some additional information from you. Keep in mind that we have placed a limitation on your PayPal account, and this limitation will remain until we receive and review this information. Please remove PayPal from all auctions involving prohibited items
Bitcoin is now considered to be a currency and you cannot use Paypal for currency exchange. Why do people not get this?My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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NordicMoose
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February 07, 2014, 07:39:43 AM |
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There is someone else around here suing paypal for similar reasons. see if you can get in touch with them.
you cant sue paypal, you will get buried before getting to court. No, you definetely have been victimised based on some dumb woman's incapacity rather than due to your breach of any plociy let alone law. PayPal were even thinking of adopting bitcoin as a means of payment. It didn't eventuate, but its CEO is a supporter of the idea, as is ebay who run Paypal anyway. This is evidently due to her not understanding her own company's policy and I would advise reporting her to the relevant branch of PayPal. It is looking like a class action may need to be taken against either this woman or even PayPal itself if they refuse to retract over this matter if this startts happening to all bitcoiners. Stick to your guns over this one, as the error lies with her not you. (Hope she loses her job over it.) From the PayPal User Agreement: "Payments received in your Account may be reversed at a later time, for example, if such a payment is subject to a Chargeback, Reversal, Claim or is otherwise invalidated. This means that for some of our Sellers, payments received into their Account may be returned to the sender or otherwise removed from their Account after they have been paid and/or delivered any goods or services sold....
We may close, suspend, or limit your access to your Account or the PayPal Services, and/or limit access to your Balance for up to 180 Days (or longer if pursuant to a court order or other legal process) if you violate this Agreement, the PayPal Acceptable Use Policy, any other agreement you enter into with PayPal, or as otherwise specified in this Agreement or other agreement you have entered into with PayPal. We may also use proprietary fraud and risk modeling when assessing the risk associated with your Account..."and my favorite part... "....you acknowledge that PayPal’s decision to take certain actions, including limiting access to your Account by placing holds or imposing Reserves, may be based on confidential criteria that are essential to our management of risk and the security of Users’ Accounts and the PayPal system. You agree that PayPal is under no obligation to disclose the details of its risk management or security procedures to you."Does quoting that slab of a company's charter mean you're not intelligent enough to enter the debate on this thread? Or that you're some little kid at mommie's computer? What the hell are you doing here? This forum is for adults, go google the addy for the Gears of War forum. All you've done is spammed someone else's words to probably boost your post count. Good job! Daddy VERY proud of you! ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) Now fuck off.
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NordicMoose
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February 07, 2014, 08:05:19 AM |
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Reality for you all kids thats screaming "LETS SUE"
1) Read every single words to the TEE of the service agreement. 2) All financial service providers have their right to terminate the relationship with you for WHATEVER reason they see fit. This apply to banks as well.
Go ahead and talk to a lawyer, i'm sure some lawyers would love to take money from suckers like you.
Not completely true: 1) not contesting this. 2) They have a right to terminate the relationship but they likely can't hold your money for such a long term and here's why... Any contract which violates state or federal law will either be completely nullified or have the unlawful portion excluded. PayPal operates as a money transmitter service and is bound by state money transmitter laws. Each state establishes the maximum hold time but only two states would allow PayPal to hold funds for 180 days. (North Carolina or New Mexico) PayPal is holding money in violation of State law and is liable for losses you may incur as a result of the hold as well as interest up to the amount which your state allows. Basically you can't just make an illegal contract and use it as protection from liability when you break the law... Find out what your state money transmittor laws permit and take the appropriate actions. ^^ This. Quoting slabs of law does not impress anyone seriouscoin if you don't have a clue what it means.
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NordicMoose
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February 07, 2014, 08:24:17 AM |
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If this is a surprise, you did not do your due diligence. Paypal has acted this way for a decade for less risky items than BTC.
Ebay, ok. Paypal, wtf people?
To be fair, PayPal are subsidiaries to eBay, like vadoff and myself both stated, the CEO was initially for it. ("Comm error"? Nah.) And this is a harsh lesson against leaving large sums in PayPal. Get it moved as soon as possible.
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cloverme
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SpacePirate.io
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February 10, 2014, 11:39:02 PM |
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My PayPal account is now "in review" and now says "You have 3 days to resolve before your account becomes restricted." Never had Bitcoin lock my wallet ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Bitcoinpro
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February 10, 2014, 11:51:57 PM |
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LoL my listings have been fine so far.
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WWW.FACEBOOK.COM
CRYPTOCURRENCY CENTRAL BANK
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greaterninja
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February 13, 2014, 07:57:33 PM |
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LoL my listings have been fine so far.
PayPal froze ~$45k in funds we had. However, they lifted it after lots of paperwork and 3 days of talks. I'd rate them as OK. Now Amazon...they froze my account for 30 days..
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cloverme
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SpacePirate.io
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February 13, 2014, 08:05:23 PM |
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My account is back to regular status now after a 4 day review.
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crypto2k
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February 13, 2014, 08:05:54 PM |
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LoL my listings have been fine so far.
PayPal froze ~$45k in funds we had. However, they lifted it after lots of paperwork and 3 days of talks. I'd rate them as OK. Now Amazon...they froze my account for 30 days.. What do you mean lots of paperwork and 3 days of talk?
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