PayPal agrees to pay $10 Mill to settle with U.S. govt

[bull7]

I hate to be the bearer of bad news, but check out this article:

http://story.news.yahoo.com/news?tmpl=story&u=/afp/20030725/tc_afp/us_internet_gambling_030725150720

Not a good sign /images/graemlins/frown.gif PayPal/Ebay has no backbone. A few days ago one of Ebay's security exceutives indicated at a conferemce that Ebay and PayPal would give out info on customers and transactions without requiring a Court Order. Here is the link to that article:

http://www.haaretzdaily.com/hasen/pages/ShArt.jhtml?itemNo=264863&contrassID=2&subContrass ID=5&sbSubContrassID=0&listSrc=Y

[GrannyMae]

fortunalely, the settlement was pending for a bit now, and it comes with no repercussions. thank the ny attorney general for the settlement. this was the impetus to paypal's end of gaming funding.

now that paypal was sucked up by ebay, there is no hope that this could ever be a funding option again.

however, ahem.. uuuu.. 'sources' tell me that paypal has stopped accepting adult material as the credit processor.

in short, paypal does not let you pay for the porn you now buy on ebay. ebay are neo-nazi scumfuks that allow people to sell porn, yet won't let you show a nipple or you are suspended for life. then, after tightening up the rules for adult merchandise, they dictate that the ONLY remaining credit processing company left on ebay (paypal) can no longer handle these porn transactions.

this, in effect, has put mom and pop (yes there ARE mom & pop pornographers) out of business, because when people buy their porn at auction, they want to use a credit card to pay for it, and they want it shipped right away. there is now no way to charge your smut, unless you are buying from a seller that has his own merchant account (3% of sellers only)..
sorry poop

5% of ebays listing fees come from porn, and they have made that entire population, which is HUMONGOUS in number and stature, relegated to a money order system. the buyer now has to go procure a money order, mail it, then wait for the seller to ship it. it has increased the leadtime threefold, but people are adapting because they want their porn.

aha, this is where this was leading

we will have to adapt to whatever new payment systems come, therefore after time, it will be natural and not as painful. ebay and paypal succumbed to pressures to settle, and probably could have won this if it went to court.

the second link you provided is much more disturbing. those of us that sell on ebay have known this for over a year, but i think very few end users at ebay know this. it is also another example of ebays's nazi tactics that they have no problem violating our constitution.

here is the punchline: ebay was my business for 5 years. i did AWESOME, and just recently sold it. so i am one of the happy ones.

2 very good links bull, i wish i had posted these a long time ago, as they were indicators of how fuked up big business and government is since 9/11, and now it has spilled horribly in our hands.

we are targets, but poker players are good moving ones. it will take more than this first law to do major damage.

[bull7]

Hi Granny! The PayPal settlement described in the first link in seperate from the settlement with the NY state AG. That settlement occurred at about the time PayPal ceased gaming transactions, and I believe, (without looking back), was for somewhere in the neighborhood of 2.5 million. This most recent settlement is with the U.S. Attorney in St. Louis, MO.

I also used to do a fair amount of business on ebay, although not for a hughe amount of income. I rarely even visit the site anymore. Ebay haaas gotten "too big for its britches", is remarkably arrogant, while continueing to jack up their fees. I continue to maintain a PayPal account with a fairly large balance, only because the money market interest rate remains above average, aand for the 1.5% rebate offered on their debit card. Combining the rebate offered and money market intereest, the return is approximately 2.2%, quite strong for a very liquid investment. I don't expect the bastards at ebay to offer this much longer, as it is too attractive to a knowlegeable consumer. At least this aloows some opportunity to regain some of the heffty fees I've paid them over the years.