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Ohhh yeah, Paypal is REAL safe

• Also for the initial paypal bashing post owner : not everyone's paypal experience is as bad as what you had to hate them that much. If you know what you are getting into and not trying to defraud the system, why worry ?

• Also for the initial paypal bashing post owner : not everyone's paypal experience is as bad as what you had to hate them that much. If you know what you are getting into and not trying to defraud the system, why worry ?

Because of point number 5:

5. If you are a bona fide, up-standing individual with hundreds of successful transactions, but someone pays you with a stolen credit card, your account (by PayPal's own admission) is immediately flagged as being "criminal behavior" and any money in that account is confiscated. If a customer "disputes" the charge, same thing happens. (See email above.)

"It's like the old adage: a fool and his PayPal account are soon parted." Indeed.

Interesting point, but nowadays fraud is ignored (eBay, PayPal), there is (almost) no such thing as an illegal wiretap, and privacy is an anachronism.

I sure hope not, paypal is a horrible service and I would not reccomend it to anyone. Just check out some of the stories over at http://www.paypalsucks.com/

Short answer: YES!

And this is after thousands of people have complained about losing millions to paypal:
http://www.paypalsucks.com/

If you give him money DO NOT expect to recieve a system. From paypalwarning.com
"Merchants finding themselves on the wrong end of a frozen Paypal account will still have to find some way to pay their obligations and fill orders for the weeks and months while the account is restricted. A domino effect occurs when a merchant's account is frozen, leaving them with no means to fill orders. Those orders are then disputed by customers, creating more chargebacks and the illusion of fraudulent activity on the part of the merchant."

What this means is WHEN PAYPAL FREEZES HIS ACCOUNT, HE WILL NOT HAVE THE MONEY TO PURCHASE MERCHANDISE TO BUILD YOUR SYSTEM, so in the end you'll be out hundreds of dollars with no system, and he'll be flat broke and probably jailed for alleged fraud.

And if you don't think this really happens think again. Just go read the forums at PaypalSucks.com and you'll realize Paypal routinely steals money from users and nothing can stop them.

sad, isn't it?

And this is after thousands of people have complained about losing millions to paypal:
http://www.paypalsucks.com/

If you give him money DO NOT expect to recieve a system. From paypalwarning.com
"Merchants finding themselves on the wrong end of a frozen Paypal account will still have to find some way to pay their obligations and fill orders for the weeks and months while the account is restricted. A domino effect occurs when a merchant's account is frozen, leaving them with no means to fill orders. Those orders are then disputed by customers, creating more chargebacks and the illusion of fraudulent activity on the part of the merchant."

What this means is WHEN PAYPAL FREEZES HIS ACCOUNT, HE WILL NOT HAVE THE MONEY TO PURCHASE MERCHANDISE TO BUILD YOUR SYSTEM, so in the end you'll be out hundreds of dollars with no system, and he'll be flat broke and probably jailed for alleged fraud.

And if you don't think this really happens think again. Just go read the forums at PaypalSucks.com and you'll realize Paypal routinely steals money from users and nothing can stop them.

sad, isn't it?

I would love to donate to Mr. Peng's fund, as I too believe he was wrongfully accused. However, I cannot and will not use Paypal.

So, did he get the funding from this from all the disgruntled PayPal users?

http://www.paypalsucks.com

You might not like it, but that's my opinion.

So which of the following happens, if a customer buys one 50c MP3 and never buys anything for the rest of his life:

a) His CC never gets charged
b) His CC gets charged 50c immediately
c) His CC gets charged 50c after a set period of time
d) His CC gets charged $10 immediately
e) There's a % chance his CC gets charged $10 immediately, otherwise never charge
f) There's a % chance his CC gets charged 50c immediately, otherwise never charged

It seems to be that (a) means free goods, (b) means no saving in CC charges, (d) is unfair, (e) means maybe free goods, and (f) is gambling, so probably (c) is correct?

But if (c) or (d) is correct, then PepperCoin is acting as a bank -- ie. the same as Paypal and thus free to rip everybody off with no recourse. Sucky. At least I'd trust Rivest more than I'd trust Paypal.

Next question: the Peppercoin website suggests that the coin is like a cheque, and the merchant collects all the customer's coins and then redeems them to PepperCoin. So why can't each coin contain the actual transaction value? Peppercoin would then aggregate the merchant's coins after a set period and credit the merchant's account.

http://paypalsucks.com/

You throw away some transactions so that you don't have to pay bank fees

But what is the difference of this and PayPal?

There doesn't seem to be one...

Geez, I hope that PayPal doesn't freeze their funds on them.

There's also this PayPal scam.

I understand a lot of people have been victimized by it.

"Elon Musk, founder of Zip2 and PayPal is planning to build a launcher for small satellites. Much of his personal fortune come from all of the money he stole from legitimate paypal users . The amount of money he plans to spend on this project is not much more than Denis Tito spent on his space station visit. The difference is that this venture actually tries to do something productive. Elon is also behind the Life to Mars mission."

Much of his personal fortune come from the IPO of PayPal and subsequent sale to eBay.

Let's not forget all the money he took from his customers....

PayPal horror stories: PayPalsucks.com

Google search of "beware of paypal": Beware

PayPal Warning

Petition to shut down PayPal

that way when you give him your credit card so that he can launch your sattlite into space he can clean you out just like with Paypal sounds like a lot of fun

Maybe he should put some of that vast fortune into preventing paypal from sucking.

Good idea, but Paypal sucks.

But there are others with complaints against PayPal.

Are they going to help them? here is a whole website about how bad they are. Several in fact.

Someone has...check out these sites:

paypalwarning.com
paypalsucks.com

I, for one, cannot understand how paypal is allowed to get away with all this. People even suggested that things might change once eBay took them over, but apparently that hasn't happened yet. What a shame, I remember when PayPal was actually quite a helpful service. Now it just appears to be too much trouble, especially if something goes wrong.

• paypalsucks.com
• paypalwarning.com

paypalsucks.com

As the dotcom boom hits bottom you look around and notice that fewer and fewer services have competitors anymore. That's the way it has become in on-line payments. There are a couple of alternatives that may still unseat PayPal as the major player in the space, but now that eBay has them I doubt it.

Low barrier of entry means this and the auction space are ripe, but getting traction in it is hard.

What concerns me the most is the service aspect of the deal. PayPal has a bad reputation, but there is hope it will it will improve.

---
Go Daddy President Interview

There can't be that many people who think that PayPal sucks!

Visit PayPalSucks.com for an entire community pissed off at PayPal.com's practices.

www.paypalsucks.com

PayPal, while secure, isn't exactly cheap. While it's quick and secure, if you use credit cards and direct deposit. The fees for transfering funds are outrageous. I think PayPal starts to make up for it through the services they provide that are similar to any other bank.

They don't tell you this in big bold unambiguous neon letters, but Paypal is not a bank. If they were a bank they would be regulated like a bank. They would have to adhere to reasonable consumer protection laws. They would be better equipped to handle fraud, and the accountholders would also be insured. As it stands now, Paypal is just a company that shuffles money around for you...sometimes.

If you've ever read the T&C's you'll see that they have a great deal of freedom to do whatever they want with your paypal account and any bank/credit card accounts that are associated with it. If you've ever read Paypalsucks (you can also get to it at www.nopaypal.com if your firewall is picky) you can see that they often do just that. If you have $1000 in your Paypal account and someone disputes a $10 charge from your account Paypal will confiscate all of the money in your account, no questions asked (and no due process given, either). Do you think that a bank could get away with that? It is a very dangerous misconception that Paypal is a bank, one that Paypal tried very hard not to undermine.

Go to Mozillazineand put your money where your mouth is.
Oh, what is that? You don't want to use evil Pay Pal? Then write a damn check. I am sure someone will take it.

How about showing that you support the cause. Not only will you pay for your beer, you will add a your voice for support.
Only by rigidly supporting these guys will you ensure sucess. Sure everyone will bitch about the time it took to finally
make it this far. But I as, how many browsers have you developed lately? That's what I thought. Now, get behind these guys and give a push.
Oh, and BTW, how many reviewers assisted in this. Exactly!

don't trust paypal. paypal sucks.

> One way for small businesses to deal with the problem would be to avoid it by using Paypal. They're a reputable financial institution

Tell me, what color is sky in your world?
Or Let me ask it like This...
What Color Is The Sky In Your World?

I've never used it myself, so I don't actually have an opinion, but here's what some other people think about paypal. Just incase you haven't heard other people's horror stories already.

Yes, I like PayPal very much too, and I use the same practice you do - PayPal for small/medium amounts, credit card only for large amounts. The thing I like best is how fast it is. Minutes after the auctions closes the seller has my payment and can send out the package at his/her earliest convenience.

If I pay with a check, I have to wait for the damn thing to get there, wait for them to deposit it, and then they will finally send it. And a lot of people I buy from aren't merchants, so using a credit card is not feasible. I'm aware of the risks of PayPal, but it is worth it for me to use it the way I use it.

I'm sure PayPal will work something out with them. Maybe it will be good - increased cooperation with the CC companies could result in better service/protection?

"'As long as we continue doing what we are doing today, we won't be subject to Federal banking laws,' said PayPal Chief Executive Peter Thiel."

These guys really need to back down and start telling people how they will fix the numerous complaints about their service instead of acting so arrogant, IMHO.

It should be

http://www.paypalsucks.com or even
http://www.paypalwarning.com/

that waste even more of my bandwidth and screen space will make me more likely to click on them, they're truly delusional. If _you_ believe this, well.....

You're taking square aim at your own foot. The same tiny minority who do the most browsing (and from whom you'l be asking the most money) are the tiny minority who supply your content. Any subscription system which does not provide some subsidy for those providing (perhaps positively moderated) comments will be counterproductive. I generally preview and edit my comments several times before I post. If each of these iterations is going to count as a page load, you'll see use of the "Preview" button fall off to nearly nothing. That can't be A Good Thing(tm).

And PayPal is a complete horror story:
Check this:
and this:

Even if I _do_ choose to buy a subscriptiuon (HIGHLY unlikely), I won't be doing it through PayPal!

Am I interested? Sure as hell am.

I hate ads, and Slashdot is only one of three sites whose ads I don't block at this point (because I want to support Slashdot). Interested enough to use Pay pal?

Certainly not.

Hopefully there will be a link on the front page with how to use my real credit card or send a money order before the really intrusive ads that I have to block show up.

You see, I'm not adverse to supporting a site I like -- but if Slashdot only offers a choice between using Paypal and being inundated with huge ads? Freeload I will. And if they start using Flash in their ads? I'll vindictively click reload just for spite.

So, you're using pay pal for charging? Is this hypocrisy, or just stupidity?

Also, how big are these "large ads"? On my 19" monitors (home and work), the current ads are nice and easy to ignore. How much larger are the new ones?

Maran

Which is a nice way to prevent subscription by all us foreign readers/contributors. Thank you very much.

Besides Paypal sucks.

> ...there was no PayPal or online escrow services, so we employed other tactics to try to ensure that we didn't get ripped off.

I'm not sure everyone would agree that PayPal is a safe way to trade. In fact, I hardly see how there is any security built into the service. If someone rips you off, how much work do you think PayPal is going to do to get your money back? For those who feel the security of their credit cards, think again. After all, PayPal made the charge to your card and PayPal upheld their end of the deal - facilitating currency exchange. I don't see what grounds you would have to stop payment on PayPal who did nothing wrong.

For large amounts, I would much rather use an escrow service.

I love PayPal and have never gotten ripped off, but I am also aware I'm taking a risk. That's why I only use PayPal for small to medium amounts (depending on a seller's rating) and direct credit card payments and escrows for large amounts. Too bad, in this case, the seller had an excellent rating.

Oh wait, checking email... .. WHAT? I paid $1000 for a figurine and didn't get it? DAMN!

paypalsucks.com gives a lot of horrorstories about PayPal.

Visit PayPalSucks.com for an entire community pissed off at PayPal.com's practices.

Why on earth do they need to raise funding through an IPO when they have all those frozen accounts to dip into?? :)

Paypal seems to have it's own share of problems. I wouldn't trust it either.