Bind you are a negative, suspicious git. The owner of bitcoinmarket never once tried to convince anyone to use paypal or break their terms of service, he put paypal up as an option and it was a very valuable option for many of us. You have no evidence whatsoever to support your claim that it was conniving on the part of bitcoinmarket. Of course bcm made money from the transactions, thats how society operates, you provide a service and you get paid for it. You obviously dont run a business like a lot of us here on this forum do.
+1
It's not Dustin
it's not even paypal.
It's a few bad actors.
What it comes down to is that there were scammers using paypal and their TOS to their advantage by stating that they never authorized the transaction or some other claim and PP sides with the buyer.
I used PP on BCM, I bought some coins from numerous sellers.
The only nefarious stuff going on is with the PP buyers and/or their accounts.
This.
We would have the same problems with credit card payments, personal checks, etc. Anyone can fraudulently claim they didn't authorize a transaction, or actually steal credentials in which case the legitimate owner rightly disputes the transaction.
Online vendors especially have been dealing with this issue for quite a while. The current bitcoin exchanges aren't nearly as robust nor do they have the tools to investigate/enforce/prevent this type of fraud compared to other long standing online commerce. This is essentially commodity that can't be tracked being sent between addresses that can't be verified to be associated with relatively anonymous parties that wants to buy or sell. Its the digital equivalent of cash in the mail. Until there are trusted exchanges who actually have the ability to back their assertions of trust with something of value BTC related transactions will be the easy target for internet scammers.
Although I was burned on a couple of transactions, it was <10% of my bitcoin transactions over the last couple of weeks. I continue to trade, cautiously, and I hope others will do the same. This is an emerging market and its up to everyone to educate themselves on the risks of their transactions and conduct business accordingly. Providing relative safety for transactions has value and some have already started to attempt to provide this with varying success.