Bitcoin Forum

So I recently heard that the guy who started up Xapo was appointed to the board of directors at PayPal, which I think is a very interesting move, since they are competitors. The thing is, I'm confused as to their motives. I figured that they could perhaps be wanting to bring someone on to help integrate bitcoin into their system (which I think is unlikely) or they want to bring someone in who would help them "beat" bitcoin. What's your take on this?

In my opinion it's more likely that they did this move in order to make and find a way to beat Bitcoin system as clearly they feel threatened to how amazing the whole Bitcoin system works and their afraid that they lose their place as most used online type of payment.

Stay positive, I think maybe they just want to make Bitcoin better. And however, no one will take Bitcoin down.

I don't think they have any intention to make it better, I don't see how they benefit from that. And while they may not take it down, afaik people complain about PayPal being relatively slow and having high fees for transactions, so they may try to implement a bitcoin-like system to make quick, cheap transactions that deal in fiat. Maybe they will try to get people to switch from bitcoin to PayPal and become dominant again

Competition between digital currency will indeed occur strictly see now that we are in the modern era.
If bitcoin is not holding the renewal and improvement of the performance of bitcoin will definitely be left far behind.
But I think today bitcoin still hold good renewal and improvement

There is no point for putting Paypal and Bitcoin. People stopped using Paypal to start using Bitcoin. So yeah.........

But bitcoin isn't accepted around the web while paypal does, having bitcoin linked to your payoal would be a great benefit for all bitcoin users like us

Unless they take off limiting crap away and ability to make a chargeback dispute on 180 days period ... they can't take down anything , not bitcoin and not anything else.

Pretty sure PayPal is bigger than bitcoin in terms of user (I think). Bitcoin still has some issues it has to floss out both technically and in the public view before it is really ready for widespread use.

Bitcoin is being held back on chargebacks as well imo. I think there would be many more people using bitcoin if they could obtain them by using PayPal funds. Mining isn't really an option for many, and I think there are people that are not entirely comfortable linking their bank to stuff like this

Paypal knows that it needs to address Bitcoin.  Having him on the board is IMO acknowledging Bitcoin which most large companies have refrained from doing. This is a positive sign that Bitcoin is definitely a contender in online payments and perhaps more.

Nope, it won't happen to Bitcoin users. We know that Bitcoin is better than PayPal, that's why whatever happens we won't leave Bitcoin.

I feel like that's true for people who are either truly invested in bitcoin or are passionate about its cause and its technology. But there are plenty of people who are uncertain about bitcoin and countless numbers that have lost trust in it because of their experiences with some of its users.

Yes tough competition is bound to happen because it is now about to enter the era using digital money.
Bitcoin not to be missed with other competitors because if it happens to be very detrimental

Xapo integrated the best parts of both worlds... A service with off-chain transactions, with scalable fees and on-chain transactions linked to the Blockchain. I think PayPal find

the off-chain portion of this relationship very attractive. They can implement the same service and have full control over the fee structure and still make use of the Blockchain

technology. They can manage customer disputes and block accounts and stop withdrawals if there are complaints. I can see the reasons why they would want to use that.

i can't see how they can handle chargeback with the integration of bitcoin, thye know they can not ensure the refund just in case the seller is a prick or something

on the other hands they would benefit from the lower fee

If Paypal integrates bitcoin, that would boost bitcoin usage more. Many people/merchants will come to know about bitcoin. So, it must come in reality for bitcoin sake....

Yes Paypal has some potential to take bitcoin to many merchants who still hesitate on adopting bitcoins. It must be a good idea that Paypal and bitcoin together. Soon, we may see another thread for WU and BTC ?

While I'm seeing the benefit this could bring for bitcoin, I'm still having some struggles understanding what benefit PayPal gets from this? Unless they somehow charge and take in money off bitcoin transactions through them, would they not potentially be losing customers?

i think they will be rival firms for future but if they can work in same sector it is for within two can be useful and profitable business

Perhaps the same benefits as bitcoin, but paypal is very different with the bitcoin.
I think bitcoin win because of the ease and there are no regulations that make it difficult.
To get bitcoin is very easy and a lot of ways and to exchange into bitcoin money too easily, sedangan paypal to earn a lot of money is very difficult and if you want to use for the purpose must be verified with a credit card.

Id love to see that combo, sooner or later all big corps have to realize that bitcoin is a juggernaut tsunami wave, you either surf on it, or get washed away by it.

Yeah, whether they like it or not, they are going to have to discuss it and acknowledge it one way or another. It's cool to see that these bigger companies are slowly starting to see bitcoin as a serious prospect of future technology.

Yes, one day or other, every people/business in this world will need to adopt bitcoin. For one simple reason : technology evolution. It's a generation change like adopt or loose. Everyone wants to win, so adopting bitcoin will be inevitable. I'm waiting for the day Paypal adds bitcoin.

Paypal had officially S*** the bed !!!!!!

Yes a lot of companies are getting interested to bitcoin, it's very good for bitcoin.
Now many online shop that offers payment using bitcoin, it is now much evidence that bitcoin glances

Yes, this is the simple reason that Paypal also will add bitcoin. In paypal point of view it's shaking hand with competitor. But this will help for the rapid grow of bitcoin for sure.

Too much assumptions here. I think payal just needs his skills and competence.

yes i am also saw that post,and i believe its good will from paypal people,i hope paypal will seriously consider xapo to work together or integrate that startup to paypal.

this would be great, I'd really like to recharge paypal account with bitcoin, without using credit cards or bank transfers and wait  at least 2 working days to be processed

that would be a great idea to promote bitcoin to more users and ùake Paypall easier and lower the fees of transaction

I believe adoption of bitcoin by PayPal, has nothing to do with PayPal's fee structure. But there are many benefits for bitcoin ecosystem. Bitcoin will get spread out more effectively by paypal's adoption.

Bitcoin and paypal are the direct opposites. To me paypal needs bitcoin more then vice versa.
Bitcoin could manage without paypal, however paypal will need bitcoin. And yes they should stop blocking accounts where bitcoin is used in their customer base.

Yes, bitcoin can manage to succeed without paypal adoption. But I too believe paypal will badly need to add bitcoin options for deposit and withdraw for it's survival.

I'd like the ability to use Bitcoin within Paypal at no extra cost, I think it would be perfect but I know that won't likely ever be the case.

I could see this happening if they partner with coinbase. They seem to be the largest payment processors for each of their disciples. Can you imagine what their net worth would be if that happened along with ebay in the throw of things  :o

Yes true now many are interested in bitcoin as one of the reasons is a matter of convenience in the transaction.
Sooner or later bitcoin will continue to grow and attracted many people and companies

Yes, the profit motive is greater then their personal agenda, if everyone adopts BTC, they will have no choice but to do it too, or perish.

I think paypal is just finding a way to beat bitcoins on online purchase.Because bitcoin is being so famous and  online shops is starting to adopt bitcoin as their mode of payment.Bitcoin is already a threat to paypal because most of paypal users already adopted bitcoin and exchange all funds from paypal to bitcoin to start investing

as far as i know Bitcoins is threat to paypal, because paypal has a lot of procedure before their client be satisfy  and it has a high charge fee.  unlike Bitcoins is the opposite of paypal, low fee of charge, can give full satisfaction for the customer too,..
maybe paypal saw that bitcoin can be hard for them to be defeat so they decided to join and adopt bitcoins. :)