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Yeah, that's never fun to log in and see.
But that's what happens THREE MONTHS after the original transaction.
You see, I went to sell some bitcoin at xcoins after being referred by a friend.
DOH! now, I'm on my third charge-back and paypal cannot defend the charges, so
I'm expecting even MORE to follow!
YEEEEEE-HAWWWWWW!!!
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So whatever you do, don't use xcoins to sell your bitcoins.
You MAY consider buying bitcoins there and then pulling a successful charge-back. I would NEVER recommend that, but apparently someone is making free money doing that on xcoins at my expense.
Time to lawyer up!
LOL!
"Wild, wild west, mo-fo!"
It's a know issue for people selling there. You make a lot of money short term, but then the chargebacks starts piling up until your account gets frozen by Paypal for 6 month and you loss all the profit plus chargeback fees. I remember that they have a guarantee that if profits go down by 50% they will compensate you. So check it out with their support team.
They also have a new payment option called STP that "should be more safe"
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Thanks for the update. Yeah, perhaps If I had passed a lot of BTC through them, it would have been painful. Luckily I did not use it extensively, not even a whole coin's worth!
Still, pretty raw. I wonder how many people experience this with them? I know I'll never use them again.
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There is an unofficial slack channel for sellers, you can got an invite by posting in 1 of the xcoins forums.
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I have had 1 charge back in a couple of months and Xcoins was very helpful. Paypal, fortunately, had mercy on me and go a return into the account. I agree that it is a good place to quickly purchase BTC though selling (loaning) does have limitations. The guy that tried to scam me was banned from Xcoins site so some good did come out of it. 1 less crook to deal with.
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I see it has been 2 years since you posted. Have you had more charge backs or was it limited to this one?
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