₿ Paypal and Crypto - They Up To Even More Shady Tactics
As of two years ago Paypal has really gone through major changes in the marketing industry. Kicking many people out considering them "high risk" with a very low refund rate myself included!
Well now Paypal is about to do something else I consider flat out shady and unethical yet again.
That is trying to put a patent on the blockchain technology. A technology that should be decentralized is now trying to be "claimed" by paypal.
Their "technology" if you want to call it that is a patent for USPTO which is where private keys are swapped between buyer and selling which all happens behind the scenes instead of moving crypto from one wallet to the other.
To me this is nothing innovative and instead just a shame way to start to try and claim the block chain. I for one will not be supporting paypal anymore and if given the option to pay for products and services will not be using paypal.
screw paypal! ;) upvoted!
Care to share how that happened? Not sure how somebody who's not some major figure or con could be singled out as "high risk".
I think 1-2 years ago it was anyone in online marketing with digital products was pretty much kicked from using Paypal and considered "high risk" after doing business with them for 15 years with a less then 0.05% chargeback they kicked me and many others. It came down to a judge ruling that paypal should be held liable for fraudulent charges instead of the seller.
PayPal has always been clowns. I guess that's what happens when the founders leave. The Blockchain is here to save us from PayPal and their shady high fees. ;)
Ah, bummer.
Paypal is sponsoring a Utrust event in Amsterdam in April i think. Fun fact. Don't know if that matters to anyone here.
This sounds, shady... I liked paypal, but then they started messing around too much, now days I feel like they are super unreliable...
I'm trying to wrap my head around it.. I have a couple of questions on this actually:
Is it supposed to have private key shared between buyers and sellers? Wouldn't that increase the chances of fraud?
And if the point of the swapping private keys is about fast transaction, isn't it counterproductive to create secondary wallet with that exact amount of coins and then swapping the keys?
It seems really weird to me it sounds like you pay via bitcoin but the money is put into a wallet and you then give them the key to that wallet to unlock it. Its really weird and seriously seems like a crap system to me where you are just creating millions of wallets and keys for no reason. If anything I see it cluttering up the system unless it is not on the blockchain and sits outside of it (could also be the case from what I am reading)
Oh boy, is there no limit to PP's shady practices? To me they seemed more considerate with their customers before eBay bought them. I have no idea if the change in behavior is encouraged by the owners or they just feel superior and untouchable.
But it's unacceptable, and we're lucky it won't last for too long, new era is coming.
awesome way to present upvoted <3
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