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That is why now I just support USA and Canada. PayPal does not care as long as IPs for US accounts are located in North America. Yes, if they see someone from Poland for example is trying to login into US PayPal account they will ask additional security questions to make sure account was not hacked. I am also considering creating an applet to tunnel SSL connection to Paypal through users browsers. This way there will be no problem with IP addresses as they will come from the users computers
There are no losses to the site as the risk is transferred to the users themselves. But users need to make sure that transactions are small and they don't keep large amounts in their Paypal accounts that they set up for trading
There are no losses to the site as the risk is transferred to the users themselves. But users need to make sure that transactions are small and they don't keep large amounts in their Paypal accounts that they set up for trading
Using a bot to log into other people's paypal accounts will cause problems. You will need more than just the username and password. If the account has not been used recently, or is logged in from a significantly different IP address, paypal will let you log in, but when you try to send money, you will get asked the security questions.
You might be able to get away with making a bunch of throwaway (unverified) accounts. If you receive only a small amount of money into each (less than $500) you could get away with it. You could then pay the money out after waiting 60-90 days to make sure there's no chargebacks. This will be a lot of work, and some of the accounts will get closed due to suspicious payments, so you'll have to factor these losses into your fee schedule. You'll also have to be careful of getting your IP addresses banned.
You might be able to get away with making a bunch of throwaway (unverified) accounts. If you receive only a small amount of money into each (less than $500) you could get away with it. You could then pay the money out after waiting 60-90 days to make sure there's no chargebacks. This will be a lot of work, and some of the accounts will get closed due to suspicious payments, so you'll have to factor these losses into your fee schedule. You'll also have to be careful of getting your IP addresses banned.
Hi Gensen
I don't use my PayPal account to accept money that is why PayPal can not close it. Instead of sending money to me users submit their password and I have a software bot that will send money directly from their PayPal account if the match is found. The bot is written now to work with US and Canadian accounts. That is why I said it will not work with Dutch Paypal accounts. It would not be difficult to add support for other languages, but it is not there yet. My application does not store users passwords because it can process trades in few seconds. Some paranoid users can change their password right after the trade. Actually I would advise users to set up separate Paypal accounts for trading bitcons and not to keep big amounts there.
To reduce fraud, like charge backs, user's orders will only be matched with other users of similar rank, where rank is just a number of successful trades. For example, if a user did 100 successful trades then his order will be matched with orders from users who did between 50 and 200 successful trades. So one has to build his reputation first like in bitcoin-otc. Users can also send me evidence of charge backs so I can block people who abuse system. I should automate that too in the future
I don't use my PayPal account to accept money that is why PayPal can not close it. Instead of sending money to me users submit their password and I have a software bot that will send money directly from their PayPal account if the match is found. The bot is written now to work with US and Canadian accounts. That is why I said it will not work with Dutch Paypal accounts. It would not be difficult to add support for other languages, but it is not there yet. My application does not store users passwords because it can process trades in few seconds. Some paranoid users can change their password right after the trade. Actually I would advise users to set up separate Paypal accounts for trading bitcons and not to keep big amounts there.
To reduce fraud, like charge backs, user's orders will only be matched with other users of similar rank, where rank is just a number of successful trades. For example, if a user did 100 successful trades then his order will be matched with orders from users who did between 50 and 200 successful trades. So one has to build his reputation first like in bitcoin-otc. Users can also send me evidence of charge backs so I can block people who abuse system. I should automate that too in the future
Hi Gensen
I think there will be no problem to receive USD in Ducht PP account but the system will check if Paypal asks for a fee to send USD from American account to Dutch and it will not proceed. I think for very small amount below 40 cents there is no fee. There is no Paypal fee if USD goes between two american accounts for any amount
Hi coineta,
I tried to make a trade from your webstie, but i have Ducht PP Acount, is this a probb? Ahh we see what happends.
Is there a possibility to see the trade's in transit?
Please let me know
Cheers
I think there will be no problem to receive USD in Ducht PP account but the system will check if Paypal asks for a fee to send USD from American account to Dutch and it will not proceed. I think for very small amount below 40 cents there is no fee. There is no Paypal fee if USD goes between two american accounts for any amount
Hi Gensen
Yesterday someone posted a sale to 5 bitcoins, I just bought them myself with my paypal account. But I see there are more orders to sell bitcoins right now although a little expensive
Yesterday someone posted a sale to 5 bitcoins, I just bought them myself with my paypal account. But I see there are more orders to sell bitcoins right now although a little expensive
Hi coineta,
I tried to make a trade from your webstie, but i have Ducht PP Acount, is this a probb? Ahh we see what happends.
Is there a possibility to see the trade's in transit?
Please let me know
Cheers
Re: Any hope of getting bitcoin now? (dwolla 30 day bullcrap : ()
Sorry, I think it is my fault. I need to create a good tutorial
It is very simple. If you want to sell bitcoins you go to Balance link and you will see your bitcoin address with Coineta. You have to send bitcoins that you want to sell to that address first
If you want to sell dollars in exchange for bitcoins, you will go to Trade link, select that you want to exchange USD for bitcoins, enter your Paypal email and password and select price that you wish to pay for bitcoins. You will see a table with current bid and ask prices. If you select order type Market your order will be executed immediately at the best available bid price. I wrote a software robot that will send money on your behalf from PayPal. The bot does not log your password anywhere, so there is no incentives for hackers to break into my servers. They would not find anything. But if you don't believe me you can change your password right after execution of your order. Your market order will take just few seconds to execute
I am planning support for Dwolla and other major payment processors, but I want to see first if there is a large enough interest in what I am offering
It is very simple. If you want to sell bitcoins you go to Balance link and you will see your bitcoin address with Coineta. You have to send bitcoins that you want to sell to that address first
If you want to sell dollars in exchange for bitcoins, you will go to Trade link, select that you want to exchange USD for bitcoins, enter your Paypal email and password and select price that you wish to pay for bitcoins. You will see a table with current bid and ask prices. If you select order type Market your order will be executed immediately at the best available bid price. I wrote a software robot that will send money on your behalf from PayPal. The bot does not log your password anywhere, so there is no incentives for hackers to break into my servers. They would not find anything. But if you don't believe me you can change your password right after execution of your order. Your market order will take just few seconds to execute
I am planning support for Dwolla and other major payment processors, but I want to see first if there is a large enough interest in what I am offering
i can't understand how your website works
Re: Any hope of getting bitcoin now? (dwolla 30 day bullcrap : ()
Buy bitcoins on a peer to peer exchange on www.coineta.com in less than 1 minute. You can sell bitcoins there too
http://i45.tinypic.com/oiu3pk.jpg
http://i45.tinypic.com/oiu3pk.jpg
I just bought from my site from someone $0.30 worth of bitcoins. The price is a little high but I bought it for testing the site. Order executed in less than 1 minute
http://i45.tinypic.com/oiu3pk.jpg
http://i45.tinypic.com/oiu3pk.jpg
Not using current code and I am not going to change that. I would not risk storing passwords. Security on my servers is very strong but you never know. I would not want to compensate people if their accounts are hacked.
I think I have to keep my site up for a long time to eventually build the trust but it will eventually happen
Dishonesty gets you nowhere. It is one thing to tell people they should trust you with their Paypal password (a dubious business model) it is another to blatantly lie.
If you have admin access on your server then you have the ability to see/record/sell the passwords. The fact that you "won't" doesn't mean you "can't".
I think I have to keep my site up for a long time to eventually build the trust but it will eventually happen
No one will get your password. Even I can not see it. It is in the RAM on the server. If you too paranoid change the password right after your order is executed. Orders will take less than a minute to execute if they match
Dishonesty gets you nowhere. It is one thing to tell people they should trust you with their Paypal password (a dubious business model) it is another to blatantly lie.
If you have admin access on your server then you have the ability to see/record/sell the passwords. The fact that you "won't" doesn't mean you "can't".
There is nothing wrong getting money in PayPal if amount is small and you don't keep much money on your account. Just receive money in your PayPal account and spend it right away on long distance call on Skype or buy something else like bitcoins for a cheaper price. It takes less than a minute to open a new PayPal account. In Canada unverified PayPal accounts can send up to $3700 per month and they can send both USD and Canadian dollars
Alarmoz
I see order on my site www.coineta.com to sell 40 bitcoins. Try buying 1 bitcoin or even 0.01 bitcoin. No one will get your password. Even I can not see it. It is in the RAM on the server. If you too paranoid change the password right after your order is executed. Orders will take less than a minute to execute if they match
I see order on my site www.coineta.com to sell 40 bitcoins. Try buying 1 bitcoin or even 0.01 bitcoin. No one will get your password. Even I can not see it. It is in the RAM on the server. If you too paranoid change the password right after your order is executed. Orders will take less than a minute to execute if they match
bump
usagi, post your order to exchange your PayPal for bitcoins on my site www.coineta.com. I will sell you some in smaller increments
Hi Miernik
Would you risk 0.01 bitcons for PayPal? I don't think anyone will bother to call PayPal to dispute 5 cents and risk their account frozen. What is the largest amount you would exchange for PayPal?
Would you risk 0.01 bitcons for PayPal? I don't think anyone will bother to call PayPal to dispute 5 cents and risk their account frozen. What is the largest amount you would exchange for PayPal?
Re: [WTS] Bitcoins at 5 dollars a piece, EMT/Interac e-transfer
What if you forget one of your 25+ random characters passwords? Then how would you get your bitcoins back?
+1 extremely paranoid here too.
Besides "trust no one", I also like to stress: NO compromise when it comes to securing your bitcoins.
Here's what I do:
I have a dedicated VirtualBox VM with Ubuntu which I only use to run the Bitcoin client. I use an encrypted wallet. I store this wallet in a small truecrypt container (inside the VM). Furthermore the VM itself (well, the .vdi disk image containing the actual data) is inside a truecrypt container on the host machine.
I also make sure to have frequent remote backups (in case my house burns down, my PC gets stolen, the FBI takes it, whatever). After every few transactions, I compress the truecrypt container (I mean the small one inside the VM which contains just the wallet) using 7-zip with AES-256 encryption, and send this .7z to three webmail addresses (one yahoo, one hotmail, one gmail).
All passwords (for the truecrypt volumes and the encrypted wallet and the 7-zip archive etc) are 25+ random characters.
The passwords are stored in KeePass (and in the truecrypt mount and backup scripts in the VM so I never have to fill them in manually, except when I'd need to restore a backup).
I will not get f*cked.
Besides "trust no one", I also like to stress: NO compromise when it comes to securing your bitcoins.
Here's what I do:
I have a dedicated VirtualBox VM with Ubuntu which I only use to run the Bitcoin client. I use an encrypted wallet. I store this wallet in a small truecrypt container (inside the VM). Furthermore the VM itself (well, the .vdi disk image containing the actual data) is inside a truecrypt container on the host machine.
I also make sure to have frequent remote backups (in case my house burns down, my PC gets stolen, the FBI takes it, whatever). After every few transactions, I compress the truecrypt container (I mean the small one inside the VM which contains just the wallet) using 7-zip with AES-256 encryption, and send this .7z to three webmail addresses (one yahoo, one hotmail, one gmail).
All passwords (for the truecrypt volumes and the encrypted wallet and the 7-zip archive etc) are 25+ random characters.
The passwords are stored in KeePass (and in the truecrypt mount and backup scripts in the VM so I never have to fill them in manually, except when I'd need to restore a backup).
I will not get f*cked.
To make it interesting I posted two orders on my site www.coineta.com to buy 10 bitcoins each for $7 per bitcoin. One order is in Canadian dollars, another is in US. Your recipient PayPal account has to be in US or Canada. Don't worry, I am not going to run away with your money. I need to promote my site and I make enough money in my regular job as a programmer in a Canadian bank
Hi Miernik
That is a good point. My next step is to tunnel SSL through applet in the browser or better to create desktop client application similar to Skype. Currently I am using multiproxy tunneling SSL through secure proxy servers located in US and Canada. For now if you want to try it - create unverified Canadian Paypal account and deposit there 5 US cents and convert them to 0.01 bitcoin. Or you can sell some bitcoins instead, just put your paypal address as destination without giving out your password
That is a good point. My next step is to tunnel SSL through applet in the browser or better to create desktop client application similar to Skype. Currently I am using multiproxy tunneling SSL through secure proxy servers located in US and Canada. For now if you want to try it - create unverified Canadian Paypal account and deposit there 5 US cents and convert them to 0.01 bitcoin. Or you can sell some bitcoins instead, just put your paypal address as destination without giving out your password
Well, I registered at the site, and....
Oh well, tell me, do you have a fresh, brand new IP address, not used on any other Paypal account, for each Paypal account users use on your site?
You know what Paypal will do when they notice the same IP address logging into lots of different accounts? They will close the accounts, request ID + utility bill for each of them and freeze the funds for 180 days.
That's what will happen.
Unless you are really clever and assign an IP address to each account, and log-in only from that unique IP address, also a unique web browser User-Agent string, and other stuff that browsers present.
Quote
Enter Trade
Coineta needs passwords from both senders to guarantee that money were send from both of them. Passwords are never stored and only cached in memory for the duration of the trade.
Coineta needs passwords from both senders to guarantee that money were send from both of them. Passwords are never stored and only cached in memory for the duration of the trade.
Oh well, tell me, do you have a fresh, brand new IP address, not used on any other Paypal account, for each Paypal account users use on your site?
You know what Paypal will do when they notice the same IP address logging into lots of different accounts? They will close the accounts, request ID + utility bill for each of them and freeze the funds for 180 days.
That's what will happen.
Unless you are really clever and assign an IP address to each account, and log-in only from that unique IP address, also a unique web browser User-Agent string, and other stuff that browsers present.