bitcoin payment reversal

[divermike]

hi, it seems a buyer has reversed a payment for an item worth £70. i dont have a tracking number but i do have proof of reciept from the buyer do i have ant rights over this or have i blatantly been robbed? 

I do feel that paypal have aided this person to see me off.  Why do they just let people dangle money in front of your face, while you give them valuable goods then allow them to take it back? I now have a no control of the money owed to me yet the buyers have the goods and can at anytime just take the money and run. how can paypal charge what they do but lleave sellers so completely open to theft.

ha as you can guess im pretty angry but i pay good money for this service, and yet ive been seen off within the first week. Why dont paypal keep the money from both sides?

mike. 

[snowshoe]

The issue has more to do with the type of item, intangible items are "not" covered for either buyer or seller protection.  This policy is outlined in the User Agreement.  Unfortunately scammers are well aware of PayPal's policies and how to use them for their advantage.

[divermike]

In that case they have failed in their duty of care towards a seller. Paypal should not keep the money in a one way open situation like they do. Its plain lazyness at best but more like gross negligence on their part for not putting in simple protection.

Also the situation would not have occured if paypal hadn't held the funds 'for up to 21 days' to protect the buyer. This is a mess that needs sorting. Instead of people rallying round paypal policy and throwing it in peoples faces, why dont they admit there is a big problem that could be simply solved.

This has nothing to do with the fact that digital goods are not covered by seller protection, this is about the fact that the money was exchanged for goods that the buyer recieved. That money was my property not paypals, paypal had recieved a hansom fee for the transaction, yet in the end the buyer basically stole the money from me and paypal let them.

To put this another way Paypal are basically storing sellers money in an open safe, a safe they are being paid to keep locked. 

I am definatly going to take legal advice on this and put a case forward. Or at least appeal to Paypal to change how they do things.

Digital goods are here to stay. Ebay and Paypal should either stop their sales or sort this mess out.

[divermike]

Paypal have worded their customer agreement in a way that covers over a multitude of faults in the way they operate. This works well to distance Paypal from complaints and liabilities that arise from sellers and buyers alike who have become victims to crime directly or indirectly because of contact with Paypal. 

On the other hand that same customer agreement doesnt excuse Paypal from working within the laws of any State they currently operate in. I am guessing that when my investigation is complete i will have uncovered several laws that Paypal are currently breaking.

[twyzard]

Have you discovered anything yet sir? Today a second chargeback has been filed for an unauthorized charge. The first chargeback was in the buyers favor. Although he got his money back I still have not gotten my bitcoin back and I don't think I will. I did 4 trades with this buyer on localbitcoin.com and they were successfully. Then many days later these disputes were filed and PayPal is aiding these bloody thieves. Is there anyway to take legal action ? I've already lost 2500 USD and may be losing much more because the 4 trades were amounted to nearly 8000 usd.