Silk Road forums
Discussion => Security => Topic started by: james brown on November 19, 2011, 06:43 am
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Is there anywhere I can buy BTC with paypal anymore? I used to use bitmarket.eu but they cancelled paypal transactions...
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It makes absolutely NO sense to sell bitcoins for Paypal. Paypal does not approve of Bitcoin sales using their service. Paypal will allow the buyer to get a refund for up to 180 days. That means whoever sent you bitcoins has to worry for a solid half of a year that you're going to scam them and ask for a refund for something you already received. Paypal will side with you and the person who sold you the bitcoins will have been successfully scammed.
This is why you can't use credit cards to buy bitcoins either. Bitcoins are non-reversible transactions. Paypal and CC are reversible.
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VirWoX, but you'll pay an arm and a leg for the privledge. After creating your account, you can deposit money into it using PayPal or any of their services. You then buy Linden Dollars (second life) and use those to buy BitCoins.
When most markets were at $2.3 USD / bitcoin, VirWox ended up being about $4 USD / bitcoin (so, not the most efficient method).
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When most markets were at $2.3 USD / bitcoin, VirWox ended up being about $4 USD / bitcoin (so, not the most efficient method).
Did you place Market orders ? You should check the order book and place a Limit order accordingly. Granted, it's still a steep markup but it's the only PayPal option I'm aware of.
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yeah, do a limit order. and try to get more people to use virwox and eventually the price will come down.... if you look at the purchase volume at virwox it is really low. value of btc at virox has been declining steadily also.
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Any new options for this? I need to get some money sent from my paypal account to somewhere and receive BTC in return, is this possible?
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Have not heard of any lately, the ones who used to do it have either been scammed with charge backs or had their PP account frozen because they violated PP's terms of service.
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http://otcexchange.net
Paypal to Bitcoin exchange with an escrow system. It's invite only but you can email them and request a membership.
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Just saw some guy selling BTC on ebay, how dodgy do you think that is?
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Just saw some guy selling BTC on ebay, how dodgy do you think that is?
Depends on Ebay's policy on digital currency, not even sure if they have had this issue yet. Ebay has a system to protect sellers from buyer charging back, so technically it is a bit safer than paypal alone. Though all one has to do is log on through a proxy, claim unauthorized access, and I bet they STILL get their money back.
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It does seem wide open to abuse, I guess that is why people are charging so much on eBay!
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I'd stay away from eBay. It's best to go through an exchange like VirWox (even though the limits imposed to weed out fraud can be harsh at first).
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I bought some bitcoins on ebay recently. Went smoothly. It's safe to buy but I would never sell bitcoins on there. Hell I wouldn't sell anything on ebay. Paypal is garbage. Buyers can always get their money back if they know how the system works.
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You were lucky. Most of the eBay listings that I put on watch ended up ending before the auction actually ended. I assume eBay is taking them down.
Of course you get your money back at that point. Still, it's all very iffy. And yeah, definitely don't try to sell on eBay --especially if you're particularly fond of your PayPal account.