Paypal will ban anyone selling bitcoin and using them as a payment processor.


AND I can guarantee you close to 100% fraud rate if you accept Paypal payment.

Even if you list RM 10,000 for 1 btc, people will pay because people paying it is using stolen account.


Having zero balance in your paypal account doesn't mean you are not liable for fraudulent transaction.


How long have you been accepting Paypal on localbitcoin? Are you trying to set people up so you can scam them?

Anyone interested in Sapphire R9 290 card?

Used for 3 months and still under warranty.

This post has been edited by arbitrage001: Mar 14 2014, 06:12 PM

You obviously do not understand what my post stated.

You know the term "man in the middle attack"?

Like I said, just because you transfer the money in your Paypal account to your local bank doesn't mean you are not liable for fraud. The darknet is full of Paypal account for sale for less than 10% the cost. Meaning the cost basis for the person scamming both you and the Paypal account owner is only RM300 for a Rm3000 transaction.

When someone have access to hundreds of Paypal account trying to cash out without getting caught, it is very worth it. Since it is YOU who need to deal with legal authority as soon as the Paypal account owner notices some of the money is missing.


The buyer protection policy is there to protect buyer, not the seller (in this case, you). In the event that things go wrong, seller needs to bear the responsibility of the transaction. A fact that most sellers already know if they have been selling on ebay for years.





This post has been edited by arbitrage001: Mar 17 2014, 11:26 PM

Please keep doing what you are doing and let us know in 6 months how things go.

I already order two. Not pay yet.


Let me know if you want share the risk and cost. We can discuss and find a good place to host it at reasonable price.


The cost and benefit analysis is fairly simple. Right now, 10k USD can get you around 13M hash/s and you use a lot of electricity. The price of that ASIC has close to 90% discount rate. Meaning if anyone want to build a 100M hash/s farm, he will need to shell out at least 300k ringgits.

GPU mining card will not improve 10 folds in 6-9 months nor will the price of high end GPU hash rate per price model will change significant. The power usage/network difficulty will put many current farm owners out of business as soon as ASIC enter the market in masses.

This post has been edited by arbitrage001: Mar 19 2014, 09:06 PM

If LTC is 10 usd today, network difficulty has to be a lot lower because most miners can not cover operation cost at that rate. The difficulty rate has to adjust to reasonable ROI (both operation cost and capital cost, but if miner can not cover operation cost, they will turn off their miners right away). ASIC still beat GPU in that situation.

Can organize a group buy as well. Same discount apply.

If get hit by custom tax, everyone has to pay up.

GPU miners will switch to scrypt-n.

Scrypt ASIC costs around 160 USD per MH and is expected to go down to 40 USD per MH or less in the coming months.

Use prudent risk management when buying ASIC miner.

Actually, I don't.

I use https://www.betarigs.com/

Also, try to sell off the equipments to gamer with no luck.

Price usually lag difficulty.

Imagine 1-2 months down the road when all the scrypt ASIC finally releases and running and all current GPU miner switch to vertcoin.

It is easier for smaller cap coin like vertcoin to shoot up 100-200% than bitcoin/litecoin to go up 100-200%.