Quote from: LilithX on February 21, 2014, 03:10:46 PM

I have no doubt they will eventually jump on the bandwagon. At this point they don't understand it completely and they want to make sure they know what they're doing and how to handle it properly when issues arrive. When they see that the whole world is getting into it, they have nothing left to do but join in along with everyone else. All they need is time.

PP won't jump on the Bitcoin bandwagon - never - for one simple reason: no reversibility of transactions. They can't screw the sellers if they can't control the funds. I suppose they could create hosted wallets and only allow btc transfers to another PP hosted wallet and then put controls in place on how long it takes to withdraw. But even if you withdraw funds to a bank account and get it in a few days, PP can still reverse it. They can't reverse a btc withdrawal to a wallet they don't host.

PP owes some culpability and I'm waiting for their next settlement with state AG's.

Almost all other financial services requires some minimum confirmation before allowing the transaction. Paypal and ebay try to make it as easy as possible to "one click buy" which means any hackers who comprise a user's ebay account can then buy stuff which the legitimate Paypal owner then later disputes - either directly with Paypal or via their bank/credit card (primary or backup funding sources on Paypal).

Ebay/Paypal won't add two factor authentication even though it is so easy to do these days with online apps like Google Authenticator or Authy or SMS or many other options. This would cut down on 90% of the fraud and also go a long ways at helping sellers win cases. Ebay/Paypal figure the % of sellers that are scammed are relatively low overall they are willing to let it happen because the revenue gained from "ease of use" far outweighs "dealing with fraud" and then they modify their policies to make the sellers bare all of the risk so they have administrative costs to process claims but aren't out the money - take it from seller accounts.

Unfortunately, even long-time users like me weren't aware of this because we had smaller transactions go fine for years. But once you venture into any kind of product that is on the scammer's radar, then it's total scamsville. It's not the odd rotten apple here and there, it's like entering a store full of pickpockets when selling virtual goods on ebay.