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P2P trading using PayPal to become even more difficult due to new restrictionswww.paypal.com/us/webapps/mpp/ua/upcoming-policies-full
136 sats \ 5 comments \ @P2P_bitcoin 16 Aug 2022 bitcoin
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25 sats \ 1 reply \ @faithandcredit 16 Aug 2022
I think we need to forget about fiat.. There needs to be exchanges where people can trade things other than fiat into BTC :) I am thinking an exchange where people can trade magic the gathering cards with each other for bitcoin. Just kidding. But maybe WoW gold and items or something. Or any other game that millions of people play.
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0 sats \ 0 replies \ @P2P_bitcoin OP 16 Aug 2022
It's the convenience versus security tradeoff. PayPal can be very convenient. It's not secure -- with PayPal itself being the biggest risk factor. Zelle is much better, but is U.S. only (well, to clarify, ... it is for bank accounts in the U.S. only).
There really are few good alternatives for buying or selling bitcoin P2P. In-person Cash (also known as "Face-to-face"), cash deposited into your bank account (which few banks permit), postal money order, and prepaid gift cards. Other methods such as mobile money can work depending on the provider, and remittance services (i.e., remittance payment sent to the P2P seller) work as well but those both require identity verification / KYC.
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25 sats \ 0 replies \ @nerd2ninja 16 Aug 2022
Money orders, cash by mail, and gold shipments through FedEx or Post Office still working.
Another idea, sell goods and services for Bitcoin instead of dollars.
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0 sats \ 1 reply \ @P2P_bitcoin OP 16 Aug 2022
U.S. business accounts will not be able to receive personal transactions from PayPal accounts outside the U.S. starting October 31, 2022.
What this means: [Person outside the U.S.] ----[send money]---> [U.S. business] Not Allowed (i.e., You won't be able to sell bitcoin to someone outside the U.S. if you have a business account at PayPal.)
U.S. PayPal accounts will not be able to send personal transactions to business accounts outside the U.S. starting October 31, 2022.
What this means: [U.S. business] ----[send money]---> [Person outside the U.S.] Not Allowed (i.e., You won't be able to buy bitcoin from someone outside the U.S. if you are paying from a business account.at PayPal.)
If you integrate or reference PayPal services on your website, we are clarifying that PayPal may use automated technologies (e.g., website crawling) to assess your website to ensure compliance with the user agreement and to combat fraud.
What this means: PayPal's bots are going to scrape your website to determine that you aren't selling anything that violates their user agreement.
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0 sats \ 0 replies \ @P2P_bitcoin OP 16 Aug 2022
Here's a Tweet that kicks off a thread that provides more info.
If you use PayPal for any kind of business, you should take careful note of the following change to PayPal's terms of service, effective September 19:
https://nitter.it/legalinspire/status/1558930987232395270
And here's the first Mastodon post in a thread also with good info:
so uh
paypal's changing their terms again to basically state plainly that they'll be using bots to scrape your websites and social media for TOS compliance. it specifies users who have paypal integrated into their site, but us longtime working freelancers know they've been snooping on us for a while
don't integrate paypal into your site. only do transactions with invoices. no excess info on those, ESPECIALLY if you do nsfw work
don't put paypal dot me links on your social media
https://redroo.ml/@extinct/108829411496195433
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