Arbusers

I have warned our members in the CRS thread about PayPal's bad habit to change their Terms on a biweekly basis. In my view they do so in order to make their clients get bored when checking again and again for a potential trap. In the end, they simply hope that after 100-200 emails with new Terms, the client will not bother checking.

But guess what. Some people still bother checking.

So PayPal decided to steal $2500 from every account they believe it is involved in spreading misinformation, whatever that means. If the account is empty, they could simply take the money directly from the linked bank account.
How cool is that?

The Twittosphere and Youtubesphere grabbed that immediately and as a result PayPal had 1000s of requests for account closure just yesterday. Some hours later, PayPal realised the financial damage the company caused to itself, and announced it will not steal people's money.

Now, I am attaching PayPal's stock graph and let's see how it behaves from now on.


What is left for me to say, is that you should be very careful with this company as their ethics are extremely low.

P.S Crypto enthusiasts should thank PayPal for abusing clients. If the fintech sector acts like PayPal, BTC price will go to other galaxies.

Being a communist and promoting agendas that have nothing to do with business have a cost. In PayPal's case that cost was 6.5 BN USD in 24 hours. It also turned out that PayPal was looking for $2500 per incident and not as a one off confiscation.

I believe you are wrong. PayPal still threatens users with a $2500 seize per incident if they think you promote discriminatory, intolerance etc. Wondering if there is a clause in their terms for monitoring client's social media.

blackjack wrote: ↑

Tue Oct 11, 2022 6:59 am

I believe you are wrong. PayPal still threatens users with a $2500 seize per incident if they think you promote discriminatory, intolerance etc. Wondering if there is a clause in their terms for monitoring client's social media.

I really don't have the time to check all the terms these institutions have. But I have seen many terms about PEPs (Politically Exposed Persons) and also I m 100% sure a big Fin Tech bank is clearly mentioning they collect data from your social media.
Frankly, no matter if they include it in the terms or not, I m sure they collect and process data any way they can.

arbusers wrote: ↑

Tue Oct 11, 2022 6:51 am

Being a communist and promoting agendas that have nothing to do with business have a cost. In PayPal's case that cost was 6.5 BN USD in 24 hours. It also turned out that PayPal was looking for $2500 per incident and not as a one off confiscation.


Paypal.png

What do you mean by "being a communist"? Do you mean they are communists because they follow central planning system instead of free markets system? The word communism has so many different meanings for different people/groups.

Communism, among other regimes didn't allow the freedom of speech to their subjectives.This right shall include freedom to hold opinions and to receive and impart information and ideas without interference by public authority and regardless of frontiers. PayPal tried to impose the fear of financial sanction to their clients for having an opinion they (PayPal) don't agree with. In that sense, PayPal is acting like a Communist regime, but you can freely replace the word with fascism, sultanism and a number of other non democratic systems that do not respect the freedom of speech.

Thanks for explaining! I personally prefer the word dictatorship or authoritarianism because for some people (for example in the area where I am from) communism simply means an ideal where benefits of economic output should belong to people/community. But of course because of regimes such as Soviet Union, North Korea, etc. the word became synonymous to authoritarianism which is kinda a shame because for some reason I like the word communism

But anyway I am going off topic. Totally agree with you about PayPal's low ethics.

mrJustice wrote: ↑

Thu Oct 13, 2022 11:59 am

for some reason I like the word communism

I was about to ask you what is that reason, but let's stay friends and don't get out of topic. That for agreeing with the PP issue.

Do you think it is a coincidence they did that now, just 2 weeks before November's elections in the US?

Do you think Elon Musk is investigated because of his tweet on PayPal?
What a coincidence!

Maybe Elon Musk is investigated because of the following:

Kreon wrote: ↑

Fri Oct 14, 2022 5:44 pm

Do you think Elon Musk is investigated because of his tweet on PayPal?
What a coincidence!

There are 100s of excuses Elon Musk created for him self to be investigated. I doubt he is investigated because of PayPal.