Why Bitcoins are so expensive on Ebay?

[funtotry]

It's often easy to make money selling Bitcoin on Ebay. What sellers do to fight chargebacks is ship a US Penny with a tracking number to the buyer. This will often discourage chargebacks and allow sellers to sell at twice or even three times the rate. People who buy Bitcoin on Ebay are really looking to purchase it with PayPal. Since Ebay and PayPal go together, it's basically the first place buyers will look. Any new buyer will think Ebay is convenient and easy PayPal conversion, so sellers are able to take advantage of this fact.

So baiscally we sell a bitcoin and then ship a penny with a tracking number to prove to paypal we actually shipped something? Paypal doesn't give a rats ass about txids, so this seems like a good solution

[MF Doom]

becasue of sacmmers, end of story.  and once you get scammed, you wont want to deal with btc anymore.  I think its a major problem that everyone is ignoring

[freeyourmind]

It's often easy to make money selling Bitcoin on Ebay. What sellers do to fight chargebacks is ship a US Penny with a tracking number to the buyer. This will often discourage chargebacks and allow sellers to sell at twice or even three times the rate. People who buy Bitcoin on Ebay are really looking to purchase it with PayPal. Since Ebay and PayPal go together, it's basically the first place buyers will look. Any new buyer will think Ebay is convenient and easy PayPal conversion, so sellers are able to take advantage of this fact.

So baiscally we sell a bitcoin and then ship a penny with a tracking number to prove to paypal we actually shipped something? Paypal doesn't give a rats ass about txids, so this seems like a good solution

So if there was a product that was shipped with a tracking number as part of a bitcoin purchase on ebay, then it fulfills Paypal's criteria and a chargebacks are no longer possible?

[EcuaMobi]

So if there was a product that was shipped with a tracking number as part of a bitcoin purchase on ebay, then it fulfills Paypal's criteria and a chargebacks are no longer possible?

I've read cases that the buyer says he never bought that item (because of account being compromised or whatever) so he sends the received item back (while keeping the bitcoins of course). On some cases PayPal refunds the payment after confirming the package was sent back.
Seriously there's no way to make a charge back impossible. There could be some measures to reduce the risk but there's no bullet proof method.

[MF Doom]

So if there was a product that was shipped with a tracking number as part of a bitcoin purchase on ebay, then it fulfills Paypal's criteria and a chargebacks are no longer possible?

I've read cases that the buyer says he never bought that item (because of account being compromised or whatever) so he sends the received item back (while keeping the bitcoins of course). On some cases PayPal refunds the payment after confirming the package was sent back.
Seriously there's no way to make a charge back impossible. There could be some measures to reduce the risk but there's no bullet proof method.

look at paypals terms of service.  they dont deal in "digital goods" and dont want you using their service to deal in them either.  they also dont want bootlegged software, movies, etc being sold using paypal.

[freeyourmind]

I've read cases that the buyer says he never bought that item (because of account being compromised or whatever) so he sends the received item back (while keeping the bitcoins of course). On some cases PayPal refunds the payment after confirming the package was sent back.
Seriously there's no way to make a charge back impossible. There could be some measures to reduce the risk but there's no bullet proof method.

Weird.  Do you think it's because paypal sees bitcoin as competition and doesn't want to be an avenue for bitcoin transactions?

look at paypals terms of service.  they dont deal in "digital goods" and dont want you using their service to deal in them either.  they also dont want bootlegged software, movies, etc being sold using paypal.

It seems like they're allowing the transactions to happen, and profiting from them, but then not providing support if the buyer deals in bad faith?  If they don't deal, then they shouldn't support the listing in the first place.

[MF Doom]

I've read cases that the buyer says he never bought that item (because of account being compromised or whatever) so he sends the received item back (while keeping the bitcoins of course). On some cases PayPal refunds the payment after confirming the package was sent back.
Seriously there's no way to make a charge back impossible. There could be some measures to reduce the risk but there's no bullet proof method.

Weird.  Do you think it's because paypal sees bitcoin as competition and doesn't want to be an avenue for bitcoin transactions?

look at paypals terms of service.  they dont deal in "digital goods" and dont want you using their service to deal in them either.  they also dont want bootlegged software, movies, etc being sold using paypal.

It seems like they're allowing the transactions to happen, and profiting from them, but then not providing support if the buyer deals in bad faith?  If they don't deal, then they shouldn't support the listing in the first place.

That is exactly what happened to me.  Luckily through persistance (and the scammer running and hiding and deleting his email addresses) I got my money back.  But most of the time paypal will jsut take their cut, and tell you your out of luck

[funtotry]

I've read cases that the buyer says he never bought that item (because of account being compromised or whatever) so he sends the received item back (while keeping the bitcoins of course). On some cases PayPal refunds the payment after confirming the package was sent back.
Seriously there's no way to make a charge back impossible. There could be some measures to reduce the risk but there's no bullet proof method.

Weird.  Do you think it's because paypal sees bitcoin as competition and doesn't want to be an avenue for bitcoin transactions?

look at paypals terms of service.  they dont deal in "digital goods" and dont want you using their service to deal in them either.  they also dont want bootlegged software, movies, etc being sold using paypal.

It seems like they're allowing the transactions to happen, and profiting from them, but then not providing support if the buyer deals in bad faith?  If they don't deal, then they shouldn't support the listing in the first place.

I called them many times to complain and they say they do provide refunds if its a real good, but not for digital goods. They allow you to deal with this but they don't provide ANY support for it. Bitcoin is direct competition to paypal except paypal knows bitcoin is better.

[hugs1BTC]

I hope I'm putting this in the right area, sorry if not.

I see tons of people selling bitcoins (partials) at 2x-3x normal going rates. Why is that?
Or better yet, why would anyone buy those??

Thanks.

Just some crook waiting for a noobs, that's it. Would never buy Bitcoins on eBay.

sad thing is that as long as there is demand by newbies and others the ebay sellers will continue.
they make good profits selling way overpriced bitcoins to newbies. that's not going to stop.

Every person should be well informed before doing everything, in every field, not only bitcoin. Nobody's fault, as you said, that's not going to stop. Same thing for ASICs, they are really overpriced on ebay.

[freeyourmind]

I called them many times to complain and they say they do provide refunds if its a real good, but not for digital goods. They allow you to deal with this but they don't provide ANY support for it. Bitcoin is direct competition to paypal except paypal knows bitcoin is better.

Yeah they seem to be taking the same stance as Blockbuster when online streaming/Netflix came along.  I would think that Paypal could make a lot of money in supporting Bitcoin transactions.

[funtotry]

I called them many times to complain and they say they do provide refunds if its a real good, but not for digital goods. They allow you to deal with this but they don't provide ANY support for it. Bitcoin is direct competition to paypal except paypal knows bitcoin is better.

Yeah they seem to be taking the same stance as Blockbuster when online streaming/Netflix came along.  I would think that Paypal could make a lot of money in supporting Bitcoin transactions.

Same stance as the public and internet, everyone thought it wouldn't catch on and it finally did, but if people invested in it when it would be small then they would be rich> If paypal embraces it they will do a lot better

[bitboy11]

I hope I'm putting this in the right area, sorry if not.

I see tons of people selling bitcoins (partials) at 2x-3x normal going rates. Why is that?
Or better yet, why would anyone buy those??

Thanks.

They are either preying on foolish people who are unaware of the correct price range of a bitcoin or perhaps the sellers know that buyers are willing to pay a premium price in order to avoid exchange services.

[Natalia_AnatolioPAMM]

Ahh. I never knew paypal was so stacked against sellers. Crap.

just as me

[thevictimofuktyranny]

Ahh. I never knew paypal was so stacked against sellers. Crap.

just as me

Yeah, paypal is rotten vehicle to sell crypto currencies, my paypal account got taken for thousands of pounds when some buyers of Dogecoin, Litecoin and Darkcoin did chargebacks claiming they had never received the coins.

I disputed the transactions, providing whole list of emails and blockchain evidence, paypal just paid them out anyway. These where split up into small transactions and clearly nobody is going to order more coins when they not received the previous coins. It appears to be a corporate policy at Paypal, it seems they have a deliberate policy to facilitate criminal activity against anybody selling crypto currencies through their payment vehicle.   

All of buyers where in Italy as well. Should have guessed it was group of friends doing the scam via paypal

[Minerjoe]

Yup, eBay is technically flees market. If a seller manages to find a newbies and rip them off by charging a price way over the market price, it is what is. A lesson.

[Cinnob0n]

Noobs who don't know anything about crypto are lured in. Believe it or not, people still buy them even with prices that are at x5 exchange rate xD

[funtotry]

If I did not know at all about bitcoin and when browsing ebay saw a bitcoin, I would think "oh bitcoin costs like thousand dollars, this is a good deal" and then pick it up. I bet that this has happened multiple times before and some scammers got HUGE profits from this.

[gentlemand]

If I did not know at all about bitcoin and when browsing ebay saw a bitcoin, I would think "oh bitcoin costs like thousand dollars, this is a good deal" and then pick it up. I bet that this has happened multiple times before and some scammers got HUGE profits from this.

It's not scamming when the correct quantity is up there and it's delivered. What buyers end up paying is their lookout. You can find out the going rate within 2 seconds of googling.

I'm not saying it's moral but I've limited sympathy for buyers who are that lazy or uninformed.

[funtotry]

If I did not know at all about bitcoin and when browsing ebay saw a bitcoin, I would think "oh bitcoin costs like thousand dollars, this is a good deal" and then pick it up. I bet that this has happened multiple times before and some scammers got HUGE profits from this.

It's not scamming when the correct quantity is up there and it's delivered. What buyers end up paying is their lookout. You can find out the going rate within 2 seconds of googling.

I'm not saying it's moral but I've limited sympathy for buyers who are that lazy or uninformed.

The average user won't probably know where to check and what exchanges are there and how it all works. It was wrong to call them scammers, but they are taking advantage of the limited knowledge of newbies.

[gentlemand]

The average user won't probably know where to check and what exchanges are there and how it all works. It was wrong to call them scammers, but they are taking advantage of the limited knowledge of newbies.

I totally agree but if you're about to lay out a substantial amount of your money on something as complex as BTC then you should be doing your homework.

If you can't even summon the will to type 'bitcoin price' into another part of the internet then there wasn't any hope for you in the first place.