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Title: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: dego on January 13, 2014, 08:43:53 AM Paypal President David Marcus clarifies Paypal policy towards mining rigs and btc trades:
https://i.imgur.com/0mFB3Cn.jpg Quote To clarify: we have no policies against using PayPal to sell Bitcoin mining rigs. We don't support any currency txn whether fiat or BTC... (https://twitter.com/davidmarcus/status/422632561882316800) and https://i.imgur.com/4MkA9xs.jpg Quote ...for a host of regulatory issues. But we treat BTC and any FX txn the same way. We're believers in BTC though. (https://twitter.com/davidmarcus/status/422632849670299648) Title: Re: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: the_poet on January 13, 2014, 08:53:35 AM Interesting...
Title: Re: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: jonanon on January 13, 2014, 08:59:16 AM At least they're recognising BTC as something they need to keep an eye on.
Hopefully they will create a specific BTC to PayPal and visa versa service as this could go a long way :) Title: Re: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: illpoet on January 13, 2014, 09:14:46 AM uh oh, somebody's going to court...
Title: Re: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: poppys on January 13, 2014, 09:23:46 AM Good luck in court David Marcus we're coming for EVERYTHING.
Title: Re: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: msc on January 13, 2014, 10:00:49 AM What regulatory issues? If you can legally move cash, you can legally move BTC.
Title: Re: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: s1lverbox on January 13, 2014, 10:26:31 AM yeah, they love to screw people. now they getting screwed and quick, let say we love mining rigs... good luck. o hope PayPal will burn in flames.
Title: Re: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: cryptasm on January 13, 2014, 11:20:07 AM Translation: We don't mind taking your fees when you sell crypto but if you get scammed, tough luck mofo.
Title: Re: Paypal Boss David Marcus: Rigs ok, BTC not and "We're believers in BTC though" Post by: FenixRD on January 13, 2014, 11:50:15 AM What regulatory issues? If you can legally move cash, you can legally move BTC. Because they are regulated as a payment processor. Same reg issue as the rest of us: FinCEN AML stuff regarding MTs and MSBs. FinCEN has effectively said you can't legally move cash. They're basically treating BTC like a foreign currency (which is what we want) but they're confusing the issue by not explicitly saying so, and then all the other gov agencies have their own versions of an opinion too, making it murky. I've been saying for months that PayPal, at least at the exec level, is cautiously pro-BTC. Cautious in that they intend to not be at the forefront, since the shareholders would throw a fit, but they'll adopt it when the time comes (which may be sooner than later, if we pick up another Overstock-sized retailer or two, or if there's finally official word from the IRS etc. on what they want people to do with it). Musk himself is quietly watching. I wouldn't be surprised if he owns any, though he wouldn't say specifically. It'll be interesting to see how he reacts to the news that rigs and general crypto gear is still being used for TOS violation emails. Clear case of breakdown in intra-company communication. |
