[qnr]

> I would think the first step would be buying bitcoins with paypal

This is where your plan fails. Since it is very easy to rollback the payment with paypal, no one is going to sell you bitcoins in exchange for it, except for tiny amounts.

If you look at localbitcoins for example, there are very few sellers who accept paypal, all of them limit trades to very small amounts (mostly $100-200) and require high feedback scores and some form of KYC

Excerpt from one of the offers: "Due to previous fraudulent transactions. I can only sell you bitcoin via PayPal if you take a photo of yourself holding valid U.S. government issued ID where your face matches the photo. "

[tempestn]

Ah, I see. Didn't realize it was that easy to reverse Paypal transactions (and I've obviously never tried to buy BTC with Paypal.) Back to the drawing board I guess! Any online casinos still take Paypal?