[info] [ZS] Bitcoin Seeks New Life In Africa

[lodewijk andré de la porte]

> Are there any bitcoin exchanges that take PayPal or credit/debit cards?
> > I don't do online banking with my accounts.
> >
>
> One key feature of Bitcoin is that a transaction is non-revocable. Once you
> send Bitcoins to a Bitcoin wallet address, the Bitcoins are irrevocably
> sent.  PayPal supports charge backs, so someone who buys Bitcoins could
> then file a charge back request with PayPal and get PayPal to refund his
> payment. Therefore nobody accepts PayPal for Bitcoin purchases. Credit
> cards also have identical issues. Also, get the destination Bitcoin address
> wrong and the Bitcoins sent can never be recovered by anyone.

SEPA and bank transfers are (sometimes) also easily reversable. Paypal has
a policy against virtual currencies, after a quantity of bitcoin-related
paypal accounts had been closed people stopped using it. Wisely so, Paypal
has strange account-freezing policies.
You may still get a Paypal to Bitcoin exchange in a person-to-person trade
though, ask around. Bitcoin OTC can give you an indication of
someone's trustworthiness.