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Title: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: mtnsaa on September 29, 2015, 08:31:58 PM MercadoLibre, Latin America's answer to eBay, has announced it is integrating bitcoin into its payments platform, MercadoPago.
In an email to users, the marketplace said the initiative would keep its merchants "one foot in the future". http://www.coindesk.com/the-ebay-of-latin-america-announces-bitcoin-plans/ (http://www.coindesk.com/the-ebay-of-latin-america-announces-bitcoin-plans/) This is big news since South America, especially Brazil and Argentina are adopting Bitcoin much more quickly than other countries due to fluctuations in their national currency. If Bitcoin actual establishes somewhere as a mainstream payment method, it would be in these countries and they could be come a beacon of hope. Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: pawel7777 on September 29, 2015, 08:37:37 PM That's indeed a big news.
Quote MercadoLibre.com (literally "free market" in Spanish) or MercadoLivre in Portuguese (Brazil, Portugal) is an Argentine online marketplace dedicated to e-commerce and online auctions. eBay is the largest common stocks owner in MercadoLibre, with 18.40% of total common stocks. eBay entered into a strategic alliance with MercadoLibre in September 2001. MercadoLibre is Latin America's number-one e-commerce site.[citation needed] It is currently present in Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Mexico, Ecuador, Peru, Panama, Portugal, Uruguay and Venezuela. https://en.wikipedia.org/wiki/MercadoLibre.comThat could help them expand globally to international markets, if that's what they aim at all. As for now there's not even English version available. Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: Guido on September 29, 2015, 08:59:48 PM very big news, thankyou o/p and coindesk
one thing people in arrgentina and brazil etc do not want is fiat junk that is less every day this way they get bitcoin for selling unwanted items plus can get useful (for the time being) u.s dollars in return also also interesting to note from comment above ebay own a chunk of company, hopefully they move forward with putting bitcoin integration on ebay itself this is when i sell the mountain of collected junk in my garage ;D Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: mtnsaa on September 29, 2015, 09:04:54 PM Yes I forgot to comment on that, I know Mercado Libre is not actually owned by eBay but maybe they are actually testing the waters, if this goes well in the region maybe they can adopt it worldwide. Remember about recent split between Paypal and Ebay?
Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: LFC_Bitcoin on September 29, 2015, 09:14:52 PM Good news, but let's see if they actually do implement bitcoin into their payment systems before we get too excited. I must have seen over 100 reports over the last few years of companies 'thinking about' using bitcoin but never actually doing anything about it.
Less talk & more action hopefully. Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: NorrisK on September 29, 2015, 09:18:36 PM Lets just hope that people also actually get paid in bitcoin and not in just regular fiat, as we would still be at square one then.
No Bitpay, just payments in bitcoin, that's what we want to see! Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: Mickeyb on September 29, 2015, 09:20:52 PM These are huge news indeed! Thanks OP for sharing it.
It doesn't surprise that Brazil and Argentina could possibly be adopting crypto currencies faster than the rest of the world since they have a bad taste in their mouth since the last financial meltdowns, especially Argentina. This could be a nice base for Bitcoin, South America is a huge market. Slowly but surely Bitcoin is getting under the radar. Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: Guido on September 29, 2015, 09:22:32 PM Lets just hope that people also actually get paid in bitcoin and not in just regular fiat, as we would still be at square one then. No Bitpay, just payments in bitcoin, that's what we want to see! agreed however that would be notoriously hard to do and slow think it will probably be bitpay, which is far from ideal but quick it will probably take the price DOWN, like when other big sites have adopted Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: mtnsaa on September 29, 2015, 09:27:21 PM Mercado Libre is huge over here in South America. Bitcoin has many advantages in these countries compared to others, mostly because of the fluctuating currency. Many people use it but it's not mainstream. This is huge exposure to average people. A similar thing happened with the alliance of Xapo and Taringa, which a network similar to Reddit. They are paying content creators and members who create quality posts via Bitcoin.
Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: 7788bitcoin on September 29, 2015, 11:23:34 PM This is an excellent news of another merchant accepting Bitcoin. Hopefully this will bring in more consumers to the bitcoin community- this is what we are lacking at the moment.
Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: belmonty on September 30, 2015, 01:43:51 AM Its share price hasn't been doing very well over the last six months. Some South American countries must have been suffering a similar fate to China and having a downturn that wipes out share value. MercadoLibre might be attempting to bounce back by considering adopting Bitcoin. How will it deal with disputes if it can't charge back Bitcoin transactions?
http://s11.postimg.org/5zo5byfs3/image.jpg (http://www.nasdaq.com/symbol/meli/stock-chart?intraday=off&timeframe=6m&splits=off&earnings=off&movingaverage=None&lowerstudy=volume&comparison=off&index=&drilldown=off) Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: gentlemand on September 30, 2015, 04:01:57 AM Online commerce in countries with shitty currencies is where merchant adoption really counts. First world stuff is a publicity pose in the main, this would be genuinely useful for people.
Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: Kakmakr on September 30, 2015, 06:03:31 AM Its share price hasn't been doing very well over the last six months. Some South American countries must have been suffering a similar fate to China and having a downturn that wipes out share value. MercadoLibre might be attempting to bounce back by considering adopting Bitcoin. How will it deal with disputes if it can't charge back Bitcoin transactions? http://s11.postimg.org/5zo5byfs3/image.jpg (http://www.nasdaq.com/symbol/meli/stock-chart?intraday=off&timeframe=6m&splits=off&earnings=off&movingaverage=None&lowerstudy=volume&comparison=off&index=&drilldown=off) They can implement some sort of Escrow service or use a 3rd party payment processor with consumer protection. I would rather deal with the odd disputes than having to put up with the fluctuations in their national currency. It's still a bit of good news, so let's enjoy it. It cancels all the bad news. Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: Denker on September 30, 2015, 09:10:12 AM Online commerce in countries with shitty currencies is where merchant adoption really counts. First world stuff is a publicity pose in the main, this would be genuinely useful for people. Agree. Countries where the currency has "less intrinsic value than goat shit" (Andreas Antonopoulos) should be the first targets of Bitcoin to get a bigger adoption rate. Sounth America seems to be right continent for that. Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: doublemore on September 30, 2015, 10:17:27 AM Its share price hasn't been doing very well over the last six months. Some South American countries must have been suffering a similar fate to China and having a downturn that wipes out share value. MercadoLibre might be attempting to bounce back by considering adopting Bitcoin. How will it deal with disputes if it can't charge back Bitcoin transactions? http://s11.postimg.org/5zo5byfs3/image.jpg (http://www.nasdaq.com/symbol/meli/stock-chart?intraday=off&timeframe=6m&splits=off&earnings=off&movingaverage=None&lowerstudy=volume&comparison=off&index=&drilldown=off) You'd probably fund your account with bitcoin or something and they then make charge backs? god knows. Ebay share price went down also but that was due to paypal split. Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: capoeira on October 05, 2015, 07:23:21 PM Its share price hasn't been doing very well over the last six months. Some South American countries must have been suffering a similar fate to China and having a downturn that wipes out share value. MercadoLibre might be attempting to bounce back by considering adopting Bitcoin. How will it deal with disputes if it can't charge back Bitcoin transactions? http://s11.postimg.org/5zo5byfs3/image.jpg (http://www.nasdaq.com/symbol/meli/stock-chart?intraday=off&timeframe=6m&splits=off&earnings=off&movingaverage=None&lowerstudy=volume&comparison=off&index=&drilldown=off) They can implement some sort of Escrow service or use a 3rd party payment processor with consumer protection. I would rather deal with the odd disputes than having to put up with the fluctuations in their national currency. It's still a bit of good news, so let's enjoy it. It cancels all the bad news. OLX is gaining market here in Brazil. Mercado Livre is just too expensive for sellers Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: mtnsaa on October 05, 2015, 09:16:37 PM Yes OLX it's taking a huge dent at the market, but it's kinda craiglist I think isn't it? There's no reputation/ratings, etc and payment is handled offline. I think both services can co-exist.
Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: languagehasmeaning on October 05, 2015, 09:33:34 PM This is very good news. Bitcoin continues to make inroads in a lot of important places.
Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: capoeira on October 05, 2015, 09:47:47 PM Yes OLX it's taking a huge dent at the market, but it's kinda craiglist I think isn't it? There's no reputation/ratings, etc and payment is handled offline. I think both services can co-exist. sure they can. Mercado Libre is huge Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: ajareselde on October 05, 2015, 10:42:14 PM Good news indeed. I just hope they play it out right, and avoid creating some excuse to attack bitcoin even more than it is today, due to
few people/merchants/dealers exploiting the anonymity to their advantage. Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: christycalhoun on October 06, 2015, 01:22:02 AM I can imagine more people selling smuggled goods in Argentina and Brazil via bitcoin in the near future.
Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: Possum577 on October 06, 2015, 06:08:26 AM Has anyone bought anything from this site? What do they sell? How much reach do they have by product or customer? I wonder how much boost to adoption this could provide...
Title: Re: The ‘eBay of Latin America’ Announces Bitcoin Plans Post by: mtnsaa on October 07, 2015, 03:08:35 AM I did, I'm from South America so it's very used here, it's not only for regular people selling services and used goods but there's also plenty of official stores and even brands selling their products there, so it's kinda like Amazon in a sense, which have both options.
The only thing that can be confusing is that it's not like South America is like the States, you don't buy products from Argentina in Brazil. There's a Mercado Libre for every country, like there's eBay in the UK, Spain, etc. |
