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Their announcement claims some sort of a "conspiracy", that eBay, who owns PayPal, is somehow against the entire penny auction industry.
However, there is a much simpler explanation: it's against PayPal rules all along. If you read the acceptable use policy, this is very clear:
| Service Requiring Pre-Approval | Contact Information |
|---|---|
| Airlines and scheduled or non-scheduled charters/jets/air taxi operators; collecting donations as a charity or non-profit organization; dealing in jewels, precious metals and stones; acting as a money transmitter or selling stored value cards; selling stocks, bonds, securities, options, futures (forex) or an investment interest in any entity or property; or providing escrow services. | Please send contact information, business website URL and a brief business summary to compliance@paypal.com |
That's right, only charities, and non-profit orgs can use the donate function. The "fine" folks who want your money is NEITHER.
Instead of telling you the truth, that they didn't follow the rules, they want to blame someone else as a "conspiracy".
And they STILL want your money, as they are considering some sort of a replacement donation button.
But this is expected, as they are trying to restart a Ponzi scheme.
Seen this many times before. Wazzub followers, who never got a penny, was very quick in blaming Facebook, LinkedIn, and other places of "squashing their upcoming competition" when they were actually banned for spamming.
Trust, but verify.
Occam's razor says the simplest explanation is usually the truth. React accordingly.
Thanks to heads-up from http://www.patrickpretty.com/2012/09/07/bulletin-zteambiz-site-purportedly-raising-funds-to-defend-zeek-affiliates-no-longer-has-access-to-paypal-site-weaves-conspiracy-theory-that-ebay-didnt-want-zeek-to-survive/#respond
UPDATE 09-SEP-2012: Chris points out that these fine folks changed to "buy now" button, and it may just be that Paypal don't like their link to a get-rich scheme.
Further more, they added an UNENCRYPTED check-taking page. That's right, they are transmitting your checking account number and such without using HTTPS to places unknown. They can drain your entire checking account (or any one who intercepted their traffic).
Hey KSChang,
ReplyDeleteIf I remember correctly, they actually switched from a donate button to a buy now button for the very reason you mentioned.
I don't believe they ever claimed to be a non-profit or charity, so the preapproval process would not apply.
Although I disagree with your reason why PayPal cut them off, I sure as hell don't think it was due to any concern that ebay had with competition, lol.
Personally, I prefer reason 3(b) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs.
Keep up the great work on your blogs and hubs. :)