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Author Topic: paypal to bitcoins  (Read 1698 times)
simplelove
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April 17, 2012, 12:38:50 AM
 #1

I really really really want to buy bitcoins with paypal.
but some people don't recommend that.

can someone explain why>

what about send it as gift?

send first half, when transaction is complete send the other half?

please help me out I need bitcoins
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grue
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April 17, 2012, 12:39:57 AM
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chargeback can still happen even if you take all those precautions you listed.

It is pitch black. You are likely to be eaten by a grue.

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simplelove
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April 17, 2012, 12:44:14 AM
 #3

whats change back? is paypal transaction is not recommended at all?
evoorhees
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April 17, 2012, 12:55:49 AM
 #4

If you pay with paypal, and the sellers send you Bitcoins, you can then cancel/refund the payment. You will then get the paypal money back, and you'll have the Bitcoin.

This is why you cannot use Paypal to buy Bitcoin.

Consider the opposite - would you sell your Bitcoins to a stranger via Paypal if you know they can just cancel the payment afterward? Then you'll have nothing Smiley
Stephen Gornick
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April 17, 2012, 04:28:47 AM
 #5

please help me out I need bitcoins

Very few people will mess with PayPal because of the chargeback risk and the hassle PayPal causes.

Here's a link where you can buy a tiny bit of BTC using PPUSD:
 - http://minibits.weebly.com
 - http://bitcointalk.org/index.php?topic=72060.0

Depending on where you are, you might be able to buy using your Mobile:
 - http://en.bitcoin.it/wiki/Trade#SMS.2FPhone_billing

VirWoX exchange will sell to you SLL for PPUSD, and then SLL can be traded for BTC:
 - https://en.bitcoin.it/wiki/VirWoX


Jay_Pal
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April 17, 2012, 02:38:58 PM
 #6

I bought my first btc by pp, and had no problem, but not everyone is honest.
Another problem is that if PayPal discovers, they can cancel your account, since it violates the TOS.
I have quite the opposite problem (as most of bitcoiners) I have 10 btc i'd love to sell, but the fees current exchanges charge, makes it prohibitive.
I thought using them to buy a cheap fpga (90mh/s), but it seems it isn't possible also...

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April 17, 2012, 02:56:43 PM
 #7

I bought my first btc by pp, and had no problem, but not everyone is honest.

There is no risk BUYING w/ pp the risk is on the seller.

You were honest but if you hadn't been the seller would have lost the funds and there is nothing he could have done about it.

Technically depending on when the trade was even if you had honest intent you could change your mind now and chargeback the tx and the seller would still lose.
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April 17, 2012, 05:46:06 PM
 #8

I bought my first btc by pp, and had no problem, but not everyone is honest.

There is no risk BUYING w/ pp the risk is on the seller.

You were honest but if you hadn't been the seller would have lost the funds and there is nothing he could have done about it.

Technically depending on when the trade was even if you had honest intent you could change your mind now and chargeback the tx and the seller would still lose.


Yes, that's quite right.
Of course, my honesty can only be stated by others, but as far as i can say to those who don't know me, I am an honest person. I wouldn't feel good with my self if I had reversed the transaction. It would be like stealing.
And those less honest ones, are the ones taking down the bitcoins. They don't see it is bad not only for others, but also for them, since also they can be scammed, or each bitcoin they stole lost value.

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April 05, 2013, 01:43:13 AM
 #9

I simply wanted to transfer some paypal funds to my bitcoin...but i guess because paypal's virtual currency is some how different from any other virtual currency (it's not) then paypal doesn't allow it from what i've been reading.

Oh well, it may have been allowed at one point. but paypal often denies such abilities after a few people exploit the feature. thanks morons...

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ffssixtynine
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April 05, 2013, 04:34:40 AM
 #10

I think there is a risk buying with PayPal. It's debatably not allowed under their T & C's. If there were to be a dispute, your own account could get frozen.
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