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News PayPal removes protection for crowdfunding pledges

Discussion in 'Article Discussion' started by Gareth Halfacree, 9 May 2016.

  1. Gareth Halfacree

    Gareth Halfacree WIIGII! Lover of bit-tech Administrator Super Moderator Moderator

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    Gareth Halfacree, 9 May 2016
    #1
  2. edzieba

    edzieba Virtual Realist

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    As someone who has dropped well north of £4k on various crowdfunding projects in the last few years (though not via Paypal): GOOD.

    Crowdfunding is not risk-free. Nobody should pretend there is ANY mechanism to 'get your money back' in the event something goes wrong, nor should anyone expect there to be one. If you're considering crowdfunding something, ALL the responsibility for assessing the risk is on you, and you need to be prepared to 'lose' your money without anything in return. If you cannot afford to do so, you absolutely should not be engaging in crowdfunding.
     
    edzieba, 9 May 2016
    #2
  3. schmidtbag

    schmidtbag What's a Dremel?

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    I completely agree. Now that there isn't protection for this, people may finally wise-up with their money too. It's not PayPal's fault you don't have the foresight that legit investors have.
     
    schmidtbag, 9 May 2016
    #3
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