My switch from Paypal to Bitcoin, and why I have decided to stay
Hello bitcoin! TLSS here, or Bexar, and I am here to describe my experience with PayPal, and explain why I am switching almost exclusively to Bitcoin, for good. I am a long time eBay seller (5+ years, over 1200 +rep) and have always used Paypal. A few months ago, I got in to virtual item trading for online video games (like Team Fortress 2, Dota, and etc) and was first introduced to Bitcoin. At first I was skeptical and sort of confused at this odd service, but it became more natural as time progressed. In the item trading world, there are many scammers/hackers. Valve (or Steam), has a pretty good security service and protection for accounts (Steam is where we gamers go to open our games, it is where you can buy games, talk to friends, etc.). On the other hand, Paypal doesn’t have good security. Many times, hackers in (primarily) Russia hijack Paypal accounts, pay sellers (like me) for items, and then run far with the items. A few days – weeks later, the accounts can be found to be hacked, and the payments go into a “dispute mode” of sorts. In 99% of the cases, the sellers lose. After getting ripped of $40, I let the payment go because I figured they’d never help me out. I really needed the money a few months later, so today I decided to call Paypal on this, and talk personally, and had a rather surprising conversation. It went like this: (I supposedly called the wrong department, and waited 17 minutes to get transferred to the right department) The lady pulled up my account info, and I explained why I was calling. I had provided evidence for proof of the item delivery to the buyer (which I had no clue at the time was a scammer). She explained that Paypal doesn’t extend seller protection to people like me, and had to refund the other buyer (keep in mind I still pay fees, around $1 I think it was), and that the account had gotten hijacked I then told her that I had provided plenty of evidence showing that the item had been delivered (in the game), but that the buyer hadn’t shown any, to which she was silent. Then she told me “Well I can’t say anything about that because of privacy”. (This next part is what really gets me. Yes, this actually happened) She was explaining that the Paypal policy was such that didn’t protect me, when she added “Well it’s only $40, it’s not like it’s $5,000 or something”. I said back “well this wouldn’t happen if you all could implement better security measures”. (You can login from anywhere providing you get the right login and password, no security code needed) She then went off on a mini-rant on how it is not Paypal’s fault, our security is flawless, never problems, whatever. Then she added “The kid probably used the same password for his account for like Target and stuff.” (I looked up who the seller was, and it ended up being a small luxury car wheel manufacturer, not “a kid”) Anyway, I asked her why I, the seller, should be at risk, and then explained how Bitcoin was much more protecting of my money. She told me “well we don’t cover the intangible goods”. Whatever, it maybe it was Paypal policy. But why do I pay transaction fees if I get no protection at all? She couldn’t answer that. This is why I have chosen to switch to Bitcoin. Never have I had a problem, no more worries about chargebacks. Thanks for reading this. Now, Bitcoin is always welcome in my transactions. TL;DR: Paypal won't take any fault for poor security nor refund my money when I needed it. Switching to Bitcoin was a good choice. Edit: Wow, that's a true wall of text
"From Bitcoin is the greatest scam in history to PayPal accepted Bitcoin". We covered a long journey
Former Paypal Ceo So finally we are doing it, first they laughed then they fought by calling it a scam now adopting it to survive. Yesterday Paypal hikes 6% after "PayPal accepting crypto" news broke out and now Paypal is at its ATH Currently Paypal market cap is 19,379,844 Bitcoin.
Long Read: Deal With Paxos Is What Led PayPal Management To Stop Worrying About Bitcoin Volatility and to Embrace Solution Building that Incorporated Crypto into Merchant Relationships (x-post from /r/Cryptocurrency)
10-23 10:24 - 'Paypal to buy crypto firms including bitgo' (self.Bitcoin) by /u/crypto_communityICO removed from /r/Bitcoin within 49-59min
''' "PayPal Holdings Inc. is exploring acquisitions of cryptocurrency companies including Bitcoin custodian BitGo Inc., according to people familiar with the matter, a move that would expand its embrace of digital coins." According to boomberg news. What are your thoughts? [link]1 ''' Paypal to buy crypto firms including bitgo Go1dfish undelete link unreddit undelete link Author: crypto_communityICO 1: www*bl*om*erg.*om/news/*rtic*es/2020-**-22/payp*l-said-*o**e-in***lk*-t*-*uy*crypto-*irms*in*lud*n*-b**go Unknown links are censored to prevent spreading illicit content.
PayPal: Spannende, innovative Aktie! Mit der Akzeptanz von Bitcoin, Bitcoin Cash, Ethereum und Litecoin zeigt sich PayPal aufgeschlossen. Das ist möglicherweise gerade jetzt wichtiger denn je ... Die PayPal-Aktien legten am Tag der Mitteilung an der Wall Street rund drei Prozent zu. Und auch auf Bitcoin wirkte sich das neue Geschäft positiv aus: Die Währung ist so wertvoll wie seit Juli ... PayPal has entered the cryptocurrency market, announcing that its customers will be able to buy and sell Bitcoin and other virtual currencies using their PayPal accounts. Paypal öffnet sich für Kryptowährungen. Kunden können unter anderem Bitcoin und Ethereum kaufen, verkaufen und als Zahlungsmittel benutzen. Per Paypal sollen Kunden künftig auch mit ... Medienberichten zufolge plant PayPal die rasche Integration von Bitcoin und anderen Kryptowährungen in sein Zahlungssystem. Hinweise darauf gibt es zur Genüge. 25.06.2020
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