I for one was glad that you had paypal as an option. It made it very convenient to purchase my first bit coins. I hope that it does indeed come back or that we can find an alternative to paypal if need be.

Thanks!

This makes the most sense as Paypal has had nothing but stories of frozen and locked accounts with anything Bitcoin related. They're as much of a competitor to Bitcoin as Blockbuster was when Netflix came out...out with the dinosaurs, in with the new.

Can anybody here speak french? I'm trying to track down a scammer, so I figured out contacting the ISP of the IPs he logged in with would be a good idea. But they're french and my french isn't very good; I'm having trouble just navigating around the ISPs' homepages. So if anybody would be kind to help my writing a message to the french ISP, I'd be very thankful. And if i get my money back, you might even get a bitcoin or two as reward  

Edit: I know he might be using proxies or just using unprotected wifi of other people, but who know? Maybe he isn't...

I'll just echo digdugg67 and say that BMBTC/PPUSD helped to acquire a good starting position in BTC faster than any other possible method. I would love to see it reinstated but understand the issue. I'm now getting accounts online with LR, MB, DW, etc. but PP was very easy, fluid and successful.

A tip I'll share regarding PayPal payments - if you have a Discover card, your account may have been activated for Discover Money Messenger. Essentially Discover is using PayPal as a backend for cardholders to send personal payments from the Discover Card. There are two benefits (and perhaps a third):
1) There are no fees charged to either the sender or receiver of the money. The receiver just gets it in their PayPal account like any other payment with a note about it being from Discover.
2) You get cashback on the money you send at up to 1% depending on your cashback level.

possibly

3) I don't know if this would work but you may have another layer of chargeback capability at the credit card level in the event you pay but are never confirmed. I think PayPal has no love for either buyers or sellers of an alternative electronic currency that really threatens their business model. Discover, on the other hand, probably cares a little less so long as you make your payments and interest on the cash transaction you buy BTC with.

One drawback I should note is daily/monthly limits on the service. I've heard of limits of $200/$200 up to $400/$5000. If you buy a lot of BTC you could reach your limit quickly.

As always, YMMV.

I'll chime in here and add that I was burnt by user 5810 to the tune of ~$550 USD.  Two separate transactions and paypal closed one case almost immediately despite the initial notification stating that I had 7 days to respond.  There was no explanation or note of any kind in the case.

I'm a long time member of paypal in good standing, not that I *really* expected them to take that into account.

The second case is still open and I posted any/all supporting evidence, such that I had.  If I do get any serious response I'll update here.

I may.  I'm getting a lot of requests for it.

I use PayPal and got really unhappy with how BCM went (and I expected it, when BCM stopped being invite only... In fact, I invited ever only one person, and I encouraged others to check #otc web of trust to see if a person was to be invited...)


The reason is simply: It is the ONLY option available on my country.

Here there are no dwolla, no LR, no Pecunix, no Webmoney... It is ONLY paypal. (well, we have Western Union too, but they charge 25% O.o)

I dug through the paypal tos and other documentation when I started trading at bitcoinmarket.com wanting to know just what my liability would be for funds i received via paypal.  Closest thing I found is that neither the buyer protection or seller protection apply to non-tangible goods.  I confirmed this an hour ago with a lengthy conversation with a paypal 'dispute specialist' on the phone.  He confirmed that unless there is a physical item actually shipped to an address, there is no protection for either party.

*Furthermore* he confirmed that if the sending party claims that the transaction was not authorized (as opposed to goods not received, etc), that is an immediate trigger to close the case and resolve automatically in favor of the sender, reversing the transaction.  I specifically asked if there was any avenue for appeal, arbitration, or anything else after that happened and the answer was "no, once a case is decided that is completely final".

I asked him what I as a seller could do to protect myself from liability from actual unauthorized transactions or dishonest buyers and the only suggestion he had was to deal only with verified paypal members.

Paypal is so "easy" that I really wish it was a viable option.  No matter which party they choose to protect by default there will always be people who abuse it.

My personal suggestion for how to proceed, if at all, with paypal in bitcoin trading circles is some combination of:

-feedback on traders, to establish reliability (and make it obvious, not something you have to dig to see)
-new members start with a low limit on trade size
-some currency balance be held as 'collateral' for trades of considerable value to discourage theft.
-some way for both parties to the transaction to decline to proceed if the other has questionable reputation

I like the ease of use of PayPal as well, and I was lucky not to be scammed during this past weekend's run up since I was doing a large number of considerably sized transactions (30+ BTC).

You have some good suggestions and these may help somewhat mitigate the PP dilemma as well:

- Holding the BTC in escrow for a fixed period of time for new users
- An overhaul to the rating system to take into consideration successful large exchanges

If not, I'll be looking forward to the Dwolla support.