Bitcoin Forum

I think it's a very good move because he realised if you can't beat them, join them

http://news.cnet.com/8301-1023_3-57615080-93/paypal-president-david-marcus-bitcoin-is-good-nfc-is-bad/

Can Paypal, Amazon and Ebay integrate with bitcoin already? Will 2014 be the year?

I agree that tap to pay is a trend that never caught on.

I do believe though that we will see other forms of telephone payments rather than cash/debit card that fully incorporate mobile phones.
Crypto currencies can easily integrate with this new form of payment and revolutionize the way we do business.

These large corporations are working on creating they're own digital currencies. Over the next several years I predict we will see all kinds of corporations adopt digital currencies.
I can only imagine the benefits and tax breaks that major corporations could generate through the manipulation of they're own non taxable anonymous currency.

http://www.amazon.com/gp/feature.html?docId=1001166401

It will maybe in the future, look what he said, sounds like paypal ist not so negative about bitcoin:

- "I really like Bitcoin. I own bitcoins,"
- " But it won't be a currency until volatility slows down. Whenever the regulatory framework is clearer, and the volatility comes down, then we'll consider it. "

Honestly I don't see that kind of currencies standing any chance in front of open source true global ones.

  

Wtf is up all these companies (Amazon, Apple, JPMorgan) trying to create their own virtual currency!! Fuck them. Is this bad news for bitcoins? Does that mean it's unlikely that Amazon will accept bitcoins as payment? But I don't think their currency is the same kind of crypto currency that bitcoins are, they're not programmable and provide the same world wide peer-to-peer benefits of bitcoins right?

They will never adopt BTC, at best they will create their own cryptocurrency which will be centralized/tracable/taxable etc

I wouldn't say never  ;D, sooner or later they will have to start accepting it. (If all goes well)

The days of paying for gas with your shellcoin and grabbing a bigmac with your mccoin are not far away:)

This might be the case (optional though) but fiat and crypto is not going anywhere I guess.   

Could it be because he knows that BTC may never become a true currency in the sense of the word,and the usage of BTC will at least increase the demand for online vendors like Paypal?

We've seen how some banks have reportedly frozen the credit card accounts of people who have deposited moiney to exchanges like Cryptsy or btc-e,so it would be safer to first wire that cash through Paypal. More business via BTC=more profit for online vendors.

if paypal say its OK i really starting to worry

The problem with BTC on paypal or amazon is I think that paypal/amazon want fiat money for their purchases.  So how would they turn BTC into fiat?  I think if exchanges get their act in gear it would benefit acceptance of BTC.  Or maybe they'll come up with their own exchanges, imagine a paypal BTC/USD exchange?

"I really like Bitcoin. I own bitcoins," Marcus said


wow, cool!

How does OKPAY do it? You can change there already directly, although the prices need to get better.
How big is OKPAY compared to Paypal?

My question is , since most people label paypal as evil here.
What will happen if paypal starts accepting bitcoins?

We all start to love it?

It'll be logical thing to do I think. You are good or bad because of your actions.

no, but we will all love the price rise.
he played safe, "I like it, I have it, you know?"
paypal is outdated anyway, it's only useful to scam on ebay as a buyer.

To paraphrase:
My company won't be touching bitcoins anytime soon, but I think they are great and I want the world to know. On an unrelated note I just bought a lot of them.

Seem convenient?

I didn't see this coming.  I'm surprised that speculators are not going crazy and raising the price of bitcoins to 1.2k in these last few minutes!

Even the china hype took a few days to get full steam ahead.
Wait for it , wait for it!

The problem is that this news about paypal aren't all good , he didn't praise all aspects of bitcoins in the interview.
Also he did mentioned bitcoin is not going to paypal too soon, so no need for a bull rush.

Paypal is one of those companies that will cough up your information to the IRS in a heartbeat. I for one will never mix anonymous cryptos with paypals platform if possible. However the masses will if it ever becomes available which ultimately will be good for crypto holders, especially the anonymous ones.

David Marcus has been a proponent of Bitcoin for a long time.  I believe this is the first time he had admitted to owning some, but it's not surprising news to anyone who has been paying attention for the past year.  :)

So if David Marcus likes Bitcoin and thinks that they are "good" and owns some, wouldn't it be really smart for him to decide to integrate use with Paypal as soon as possible?  He could then cause the price to rise and increase his own Bitcoin value in the process.  I would think that being the first to do so would be a strategic move as well.  I guess he is just trying to move ahead cautiously.

I think that you missed this on his post about what he thinks bitcoins are:

"People are confused. They think because it's called cryptocurrency it's a currency. I don't think it is a currency. It's a store of value, a distributed ledger. It's a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government's currency does not hold value. It's also a good investment vehicle if you have an appetite for risk. But it won't be a currency until volatility slows down. Whenever the regulatory framework is clearer, and the volatility comes down, then we'll consider it. "

A mercedes is a good car , but you won't be able to plow with it , right?
That doesn't make the mercedes less attractive , not the tractor a cool town vehicle.

David Marcus, pumping Bitcoin. Incredible.

I give Paypal 1 year max until they roll out something Bitcoin related. if not, they will be toast.

Same how WU was supposed to get toasted?
Same how ebay was supposed to get toasted?
1 year is nothing , you'll net far more for this to happen.

And yes , there were people on this forum claiming we aren't going to see WU in 2014 and you should know this better.

the way i wrote it was slightly misleading.

i think they will be intrinsically motivated to roll out Bitcoin support in 1 Year.
If they are not motivated at all, they will be toast. they sure have some reserves to last for some time, longer than 1 year, even if they are declining.

I'm dubious about PayPal.

Dont forget the games Microsoft used to pull when their backs were against the wall: http://en.wikipedia.org/wiki/Embrace,_extend_and_extinguish (http://en.wikipedia.org/wiki/Embrace,_extend_and_extinguish)

Not saying that will happen here, but Paypal know they are in the crosshairs, and they know, we know that. So the next line of defence is to be seen to be in favour, but in fact have an alterer motive.

I don't know.  I think it really depends on how widely used bitcoins are.  But bitcoin support would be something very easy to program.  If bitcoin got really b ig, really fast, they could integrate it very fast.

They could just create an option to credit $$$ to their platform to avoid volatility problem. In this case a lot of countries that are left out right now could use PP as a payment option (in case users wish so). This could serve as some kind of bridge to reach merchants that do not accept Bitcoin directly.

After all, it would be voluntary and, in some cases, useful.

This is good news. :)

^-- This, right here. I've been saying for a long time now, we can certainly expect a large internet conglomerate such as Amazon, and/or a large payment processor such as Paypal, to basically unroll their own methods of madness.

They have the capital for it (especially AMZN), and could you imagine if they partnered with a chip designer for their own mining equipment? They could also offer you to buy or lease it, with the reward being given in their "coin". Think about the 3 large barges moored off American waters, with literally tons of computing power. Could be mining equipment for all we know, water-cooled!

Hoardes of people would flock to mine Amazon coin if they knew they were getting gift card/amazon-coins in return. No need to use an exchange at that point, they could buy groceries, food, gadgets, etc..

Is Amazon operating on a fully international level though?  That is a huge drawback for them to do this.  It might work on a small level in the US but I don't see how much good it would do the people in China for instance.

Uh, yeah they're global serving a majority of major populaces.

This would be a boone to them, not a drawback. They currently sell Amazon Coin for digital purposes, but it's more like a gift card right now.

Imagine if it were more like a cryptocoin.