Bitcoin Forum

I just asked Paypal, do they have any plans for cryptocurrencies and they said,


https://i.imgur.com/QtPjuh5.png


What do you think, What are your suggestions to help them in adapting cryptocurrency?

Best
Dudeperfect

Thanks for letting them hear your (and our) voice! They will eventually come around if they keep hearing it from users.

P.S. Are you the dudeperfect from youtube?

'passing the message on' is always their polite footnote message to end the conversation. its not something special or a hint that they are seeking advice.. its just standard customer service rep stuff to say to most conversations about any matter

paypal have actually already looked deep into bitcoin a couple years ago. the issues they came up against:
1. blockchain taint / risk of AML did not fit their regulatory policy they had to adhere to when dealing with customers/regulators
2. the purchasing/sell of bitcoin in and out of fiat is still a questionable area. exchanges are not fully regulated and dont have enough liquidity to match paypals needs
3. customer demand is less than 1% wanting/needing bitcoin so its not a top priority for them.

a couple years back people propositioned the community to spam paypal with emails requesting them to accept it. although doing so would raise the third point. it still wont solve the first and second point.

at this moment coinbase have negotiated with paypal to allow coinbase to withdraw fiat into customers paypal account
https://blog.coinbase.com/coinbase-adds-support-for-paypal-and-credit-cards-21968661d508#.du9u3thlr
but not the other way round due to the 'chargeback' scammer risk

but as for paypay offering bitcoin on paypals site or paypal selling bitcoin or paypal guaranteeing no chargeback risk on deposits into exchanges.. i dont see that happening anytime soon.. paypal has too much red tape strangling it

paypal have however got something happening (beta testing) using their braintree subsidiary.. imagine it like paypal-bitpay hybrid where paypal customers can buy things from your ebay site by being diverted to braintree to take the payment in bitcoin
https://www.braintreepayments.com/payment-methods/accept-bitcoin

but as i said. its in beta test and not directly available as a built in paypal/ebay feature

Completely agree Sir, The only thing we can do is to keep trying until bitpay could match PayPal's volume. In next 10 years we will see PayPal with bitcoin or bitcoin without PayPal.



Nope  :-\

I think that in their response to you they are more trying to be polite then actualy considering cryptocurrencies as their new service so I wouldn't take this seriously.
Maybe in the near future they will realize that cryptocurrencies, especialy Bitcoin, is inevitable and that they could expand their business and attract more clients if they embrace it. But before they do that they will definetely think twice.

I think PayPal can't do this in the near futures, because PayPal with bitcoin is very different. if PayPal will accept bitcoin then they must change some rules

Its a good development that they even acknowledge it and I want to believe that are really looking into it. Although that clause seems like a general statement from a customer care in other not to be seen rude in anyway but iI still believe that once government gives the support I am sure other stakeholders will fall in line.

I agree. I'm not reading any positive indications that they're truly considering your/our suggestions regarding cryptocurrencies.
All I'm seeing is the typical "polite" reply from a representative.
Now, if there was some "official" confirmation or announcement, then that's another thing entirely.

So, I for one, am not gonna put my hopes up. Not gonna happen within the year.
Of course, I do hope I'm wrong.

Not sure how Paypal can integrate with the bitcoin. Paypal is strongly reversible, they reverse a lot transactions, but bitcoin's transaction is final and irreversible. So it will be tough for them to integrate...

Until and unless bitcoin is adopted by mass or at least 60% of people from world population start using bitcoin,I do not think PayPal is going to accept bitcoin or any other crypto for that matter

Well, I think they have to seek on that sources that already adopted bitcoin payments. I'm very glad PayPal has plans to adopt bitcoin, I'm oftenly buying on eBay and use PayPal for payment transactions. It would be great to pay with bitcoins directly to skip unnecessary taxes that cashing out asks for.

Just looks like a canned polite response to me. Alas, nothing to see here, move along.

are you the same dudeperfect from youtube?
i just came accross a random video of you flipping shit

What reply do you except from a community manager. He can't tell much, and maybe doesn't know crypto
You just wasted his time  :D

And Paypal is too busy with their algo used for govts ;D ;D

Sure when users continuously raise such questions, soon we can see PayPal into cryptocurrency transactions. Right now the market capital too have increased enormously within a short time period. Importantly to keep their users without distraction towards technology, probably adoption of digital currency takes place.

its too soon for paypal to integrate with bitcoin although its the best step for paypal if they do this, because if paypal do this, then paypal can reach more people in two type of payment, fiat and bitcoin. but i don't think that bitcoin user will use this, because in paypal account, we should send document to and credit card to make our account verified and some of bitcoin user don't want to send their docs and they want to stay in behind the door for their private.

Yes probably they just wanted to be kind to me, and the community manager might not have any idea about what cryptocurrency is all about.

It feels wrong when you see something that is going to change the traditional practices and when you try to share that vision with someone with whom you used to deal with, and they refuse to accept it (using best possible positive words).

We can see the same future, what Google saw in the late nineties and Paypal is doing the same what Yahoo did in the same period.  I won’t be surprised if I see Bitpay having more turnover and user base in next 10 to 15 years than that of Paypal.

PS – I am not the Dudeperfect of youtube, I am Dudeperfect of Bitcointalk.

PayPal needs to seek advice on how to not give money to Chargeback scammers.

this is not an indication of anything. they all say the same thing, they technically say "we will think about it" only because they don't want to say no right to the face of their customer and possibly make him unsatisfied and also at the same time they want to reserve the possibility to maybe do it someday and nobody can say "they said no and came around because they are desperate."

If you believe that they actually considered your request and that they were going to pass it on the right person you should not be so naive. It's a standard reply and one of the polite way to end the topic. Paypal and Bitcoin I don't really see this happening anytime in future. PayPal has its host of rules and regulations and as rightly said they had seen it before and understood it would be problematic for them to get this technology. So stick with the existing technology, and let's wait to see what the future brings in view of paypal for Bitcoin.

i remember getting the same reply a couple of years ago from steam when i asked the support they should add bitcoin payment. they said the same thing.
but eventually they added bitcoin payment.
and i am sure paypal will eventually add it too, they can not afford to lose their online payment processor market share. and bitcoin can potentially take it away from them.

It is a correct move to paypal, if they don't embrace the new technology, bitcoin market cap will dominate the payment indurstry, it is time to embrace crypto coins, or paypal will be dumped

If they are going to go for the right people,that could only means big names in the industry and I think they don't want to refer their coin as another altcoin,so they will come out with a big announcement and the right people to do their coin,but I'm sure they have a plan in progress for this ..

PayPal are riddled with chargeback problems and they are also a centralized service. You cannot link bitcoin with a service like that, because

they want full control. If you act against their ToS they lock your account, which would not be possible with Bitcoin. So do we want partners

like this? I prefer to use a technology without barriers and boundaries and limitations.  ::)

man who cares about paypal accepting cryptocurrencies, if you want to use a method to do payments online do it directly with bitcoin, what is the point of using a third party as bad as paypal and pay them extra amount of fee just so that they allow you to use your bitcoin and if they decide, block you.

My suggestion to Paypal? Adopt it. It was simple wasn’t it. They are trying to resist but they know deep down they are going to have to adopt it at some point in the future, so in my opinion they should adopt it now that the technology is still young and they try to get earnings out of it.

yes in  fact i personally have no idea about paypal and that is the reason that still i never feel the need to open an paypal account, i think bitcoin is enough for me for investment in bitcoins.

If Paypal adopts cryptocurrencies it would be huge!

With Paypal's transaction infrastructure, usage of cryptocurrencies spread out to the world easily.

I am worrying for my bitcoins to be usd on papal because there is a risk of freezing accounts on paypal without any reason and they also hold money from the members. So I will say stay away from paypal we are better in our way as decentralized payment system.

Paypal started to be very carefull in what they want to be involved or not. There are niches where paypal was used since a decade and since a year they are now changing their mind and kicking out lot of etablished business or fresh one

Another exemple to illustrate is why Amazon and Paypal never worked together

I would have thought PayPal was under threat from cryptocurrency and that they would not want to be part of it.
Maybe they realize they either with them then against them and have given in to join the rest race that is crypto ?
I wonder if PayPal will ever consider their own currency. Paypal coin :)

Bitpay could become a takeover target

Unfortunately not every merchant accepts bitcoin at the moment, I have tried to convince some of the merchants that did not accept bitcoin to do it, some have done it and some haven’t, so sometimes we don’t have a choice but to rely on third parties to make our payments.

What will they say before? I dont expect them something else. Its like customer service of telecommunication industry no matter how boiling you are about their service they will always give you same answer like they all been programmed to say. I am sure you are not the only one that have raised that question and in other to be diplomatic, they offered that answer to you. To me, its just cosmetic until they get the go ahead of government regarding  crypto-currency...

Paypal is late for adoption cryptocurrency, because the other reversible payment had adopted bitcoins on their service,
Skrill and neteller, they had made features for making deposit fiat money via bitcoins.
My suggestions the Paypal must be adopt bitcoins on their service, if they want be survive on their business,
or their rival will replace their business.