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Topic
Board Marketplace
Re: Recent Events At Bitcoin Market
by
gonzas144
on 07/06/2011, 00:17:18 UTC
We all know, PAYPAL is NOT the best choice.

But, think about this. The liberties that PAYPAL gives to scammers are the same liberties that we use. I have NO WAY to receive local currency from bitcoins, and Im wondering what would happen if I use a bank account on my country (hypothetically) to make bitcoin trades?. Probably the state will say "Hey, why are you moving that amounts of money without declaring them?. Soon or later I'll loose those liberties that PAYPAL gives me.

So let me help with some Ideas> We have two sides here>

Trading net> Variable
PAYPAL>NOT variable

So how we can make a risk free trading network?. Obviously we can't modify PAYPAL policies but we can modify ours.

More validation and rating systems must be implemented.

If you are not a "Great user" you cannot make trades for more than U$D100 in 24hs. Your bitcoins will be confirmed after x days, so you can't claim a refund.
What about unconfirmed transactions?. The user who already made the transaction simply can send a pic to the admin with the transaction ID and data. If the data is veracious then the trade will be auto-confirmed.

And, a trust network must be developed, awarding correct users by lowering the fees rates will be a nice idea to, more trustable users, less problems, less work. >)

Update for Ian> Happened to me once, I just sent an email to the user saying that he must not include anything about currency trading in the description. He apologized.
I think is more about informing the people. Even dwdollar was not aware of this. After the event that I've described, I sent an email to him with a recommendation to add an advice in the webpage so people will not commit the same mistake. He answered "I don't know of PayPal hassling end users?  Usually they just lock business accounts that have central accounts.".

We are in BETA stage, this mistakes are acceptable, we're all taking the risk in this new flourishing system.

I know that there are a lot of users that are in the same situation that me on this PAYPAL matter.

To dwdollar> Don't think that PAYPAL will do anything for us. We are violating their TOS. They will do all on their power to clean their hands. We have the hands tied...