Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: deadley on June 12, 2014, 07:40:13 PM



Title: Paypal surveying about bitcoin.
Post by: deadley on June 12, 2014, 07:40:13 PM
http://thecoinfront.com/paypal-is-surveying-its-customers-about-bitcoin/

Dont know how much truth in this news, but if its true then very big news for Bitcoin communities.


Title: Re: Paypal surveying about bitcoin.
Post by: Initscri on June 12, 2014, 07:44:17 PM
More information in depth here: http://www.cryptocoinsnews.com/news/paypal-survey-asking-questions-regarding-bitcoin/2014/06/12

Good signs. Peter Theil (as said) has had and most likely still does have a huge interest in Bitcoin. Time will tell...


Title: Re: Paypal surveying about bitcoin.
Post by: blatchcorn on June 12, 2014, 07:55:05 PM
If this is survey is administered to all their users (mainstreamers) pay pal will realise that 95% of the population sees no need for bitcoin


Title: Re: Paypal surveying about bitcoin.
Post by: ljudotina on June 12, 2014, 07:59:52 PM
I'm afraid it's true...alot of ppl will pres: "i have no god damn idea what BTC is"...
But, nevertheless, PayPal has eye on BTC from same reason we all have...it's useful to them (fast and cheap transactions and moveing founds all over the world).


Title: Re: Paypal surveying about bitcoin.
Post by: deadley on June 12, 2014, 08:11:32 PM
I'm afraid it's true...alot of ppl will pres: "i have no god damn idea what BTC is"...
But, nevertheless, PayPal has eye on BTC from same reason we all have...it's useful to them (fast and cheap transactions and moveing founds all over the world).

Best feature of Bitcoin Cheap transaction fee, that is the reason everyone want to use.


Title: Re: Paypal surveying about bitcoin.
Post by: ShakyhandsBTCer on June 12, 2014, 10:39:10 PM
If this is survey is administered to all their users (mainstreamers) pay pal will realise that 95% of the population sees no need for bitcoin

That would be true today but that is only because people are so accustomed to paying the hidden "tax" of using payment processors that process paypal, credit/debit card transactions and the like in the form of higher prices.


Title: Re: Paypal surveying about bitcoin.
Post by: cdog on June 12, 2014, 11:27:27 PM
They know what the future is and they are trying to get a piece of it these guys arent dumb


Title: Re: Paypal surveying about bitcoin.
Post by: ljudotina on June 12, 2014, 11:44:52 PM
I'm afraid it's true...alot of ppl will pres: "i have no god damn idea what BTC is"...
But, nevertheless, PayPal has eye on BTC from same reason we all have...it's useful to them (fast and cheap transactions and moveing founds all over the world).

Best feature of Bitcoin Cheap transaction fee, that is the reason everyone want to use.

Exactly. Even PayPal can make money out of it. It's common misake when ppl think that PayPal and BTC go one against another. If PayPal embraces BTC it can make way more money that it's making now. Why do ppl really think that PayPal want to pay all that money to banks and credit card houses? Hell no! When they get chance they will grab BTC and wont let go.
I'm guesing that only thing right now that's holding em back are regulations. Once that's clear enough, they will jump on it like a teenager boy on porn actress.


Title: Re: Paypal surveying about bitcoin.
Post by: ljudotina on June 12, 2014, 11:48:24 PM
If this is survey is administered to all their users (mainstreamers) pay pal will realise that 95% of the population sees no need for bitcoin

That would be true today but that is only because people are so accustomed to paying the hidden "tax" of using payment processors that process paypal, credit/debit card transactions and the like in the form of higher prices.

People arent that stupid. Everyone knows that they are paying and how much are paying. PayPal is not hiding it. It clearly shows exactly how much it takes from every transaction. Thing is, PayPal has something that buyers want....buyer protection. So ppl are ready to pay large fees to feel safe, and PayPal knows it (paying for safety is really pretty much normal thing for our civilization).
Anyway, PP will enbrace BTC and it will enable them to lower fees and become even stronger than they are now. You will have relativly lower fees and safety. Standard "Joe" dreams of it every night.


Title: Re: Paypal surveying about bitcoin.
Post by: Cranky4u on June 13, 2014, 12:53:36 AM
Paypal will continue to act as a middle man with the associated fees.

Process will probably go:
1. Does end recipient accept BTC? If yes, charge 10% BTC transaction fee on top of original invoice. If no, charge 10% BTC transaction fee plus 5% fiat exchange fee.
2. Send out invoice.
3. Accept BTC.
4. Does BTC need conversion to fiat? Yes, convert to cash. No, transfer to slush wallet.
5. Hold BTC / fiat for at least 3 days. Trade on short term markets for 20% profit over 3 days - effectively legalised loan sharking.
6. Transfer BTC / fiat to recipient.

Eitherway, paypal wins!


Title: Re: Paypal surveying about bitcoin.
Post by: coinmaster222 on June 13, 2014, 07:02:22 PM
They know what the future is and they are trying to get a piece of it these guys arent dumb

Sure those guys aren't dumb. But they have to think twice when they make changes to such a big website. Introducing a new currency to it would be hard because of their curent user base. They maybe would have to reshape their bussines model a bit in order to introduce bitcoin. Not something easy to do.


Title: Re: Paypal surveying about bitcoin.
Post by: monsterbitty on June 13, 2014, 07:10:21 PM
I am not sure the world knows about bitcoin in full. If they survey worldwide, they get 90% people saying no need of bitcoin.

Wonder if they integrate, the rate will go massive.


Title: Re: Paypal surveying about bitcoin.
Post by: joshraban76 on June 13, 2014, 07:41:13 PM
They know what the future is and they are trying to get a piece of it these guys arent dumb

+1

I'm pretty sure that PP will some how have unity with Bitcoin, it's just a matter of time.


Title: Re: Paypal surveying about bitcoin.
Post by: jjc326 on June 13, 2014, 07:42:43 PM
They know what the future is and they are trying to get a piece of it these guys arent dumb

+1

I'm pretty sure that PP will some how have unity with Bitcoin, it's just a matter of time.

Well I'd be shocked if Paypal had "unity" with Bitcoin.  Bitcoin is meant to be an independent thing, not controlled by Paypal.  I guess Paypal could freakin buy enough miners to get 51% and then change the code to make it more how they want it, which would piss everyone off.


Title: Re: Paypal surveying about bitcoin.
Post by: Beliathon on June 13, 2014, 07:43:50 PM
From the article:
Quote
"The survey asks "how likely are you to recommend each to a friend or acquaintance?", with a scale from 0 (not at all likely) to 10 (extremely likely).

The two services they ask about are PayPal, and of course, Bitcoin.

While some may view this overly optimistically, thinking this means PayPal will begin integrating Bitcoin soon, it's likely more of a way for PayPal to keep tabs on what's quickly becoming their top competition."
This isn't paypal trying to "integrate" Bitcoin, it's paypal assessing the THREAT of Bitcoin.

Paypal is an awfully greedy company, we shouldn't be trying to get Bitcoin involved with Paypal, we should be lobbying to get eBay to adopt Bitcoin and/or integrate with a reputable service like Coinbase so we no longer need paypal for eBay.

I guess Paypal could freakin buy enough miners to get 51% and then change the code to make it more how they want it, which would piss everyone off.
No, they can't - and won't.


Title: Re: Paypal surveying about bitcoin.
Post by: Este Nuno on June 13, 2014, 07:45:29 PM
It kind of seems like they're just putting in bitcoin as a wildcard based on whatever the user chose. It could just as easily have been Square, or Dwolla or something, right?

It's still good that bitcoin is included, but it's not like it's a specific survey just about bitcoin, right?


Title: Re: Paypal surveying about bitcoin.
Post by: Beliathon on June 13, 2014, 08:28:42 PM
It kind of seems like they're just putting in bitcoin as a wildcard based on whatever the user chose. It could just as easily have been Square, or Dwolla or something, right?
Wrong. Bitcoin is nothing like Square or Dwolla. They are not even close to being in the same league.


Title: Re: Paypal surveying about bitcoin.
Post by: ShakyhandsBTCer on June 13, 2014, 10:45:34 PM
If this is survey is administered to all their users (mainstreamers) pay pal will realise that 95% of the population sees no need for bitcoin

That would be true today but that is only because people are so accustomed to paying the hidden "tax" of using payment processors that process paypal, credit/debit card transactions and the like in the form of higher prices.

People arent that stupid. Everyone knows that they are paying and how much are paying. PayPal is not hiding it. It clearly shows exactly how much it takes from every transaction. Thing is, PayPal has something that buyers want....buyer protection. So ppl are ready to pay large fees to feel safe, and PayPal knows it (paying for safety is really pretty much normal thing for our civilization).
Anyway, PP will enbrace BTC and it will enable them to lower fees and become even stronger than they are now. You will have relativly lower fees and safety. Standard "Joe" dreams of it every night.

You would be surprised to know how many people think it is free to process Credit Card transactions.

If you had never sold or received money with paypal then you may not have looked into how much they charge merchants.


Title: Re: Paypal surveying about bitcoin.
Post by: jonald_fyookball on June 13, 2014, 10:54:23 PM

Paypal is an awfully greedy company

Every company is greedy according to you.


Title: Re: Paypal surveying about bitcoin.
Post by: Este Nuno on June 14, 2014, 07:10:11 AM
It kind of seems like they're just putting in bitcoin as a wildcard based on whatever the user chose. It could just as easily have been Square, or Dwolla or something, right?
Wrong. Bitcoin is nothing like Square or Dwolla. They are not even close to being in the same league.

Of course bitcoin is nothing like Square or Dwolla. I'm saying that the survey is asking the same questions no matter what you pick in the initial questions. All they do is replace the word bitcoin with whatever you chose.


Title: Re: Paypal surveying about bitcoin.
Post by: PenAndPaper on June 14, 2014, 07:15:07 AM
Paypal would be good publicity for bitcoin but there are already some very solid paypal like services around...


Title: Re: Paypal surveying about bitcoin.
Post by: Este Nuno on June 14, 2014, 07:31:50 AM
Paypal would be good publicity for bitcoin but there are already some very solid paypal like services around...

Which services are you referring to? Square or something?


Title: Re: Paypal surveying about bitcoin.
Post by: ljudotina on June 14, 2014, 07:44:06 AM
This isn't paypal trying to "integrate" Bitcoin, it's paypal assessing the THREAT of Bitcoin.

Paypal is an awfully greedy company, we shouldn't be trying to get Bitcoin involved with Paypal, we should be lobbying to get eBay to adopt Bitcoin and/or integrate with a reputable service like Coinbase so we no longer need paypal for eBay.


You my friend have no idea how is PayPal working or how are they making money.  Bitcoin is no threat to PayPal AT ALL. Bitcoin is possible tool that they can use to earn even more money! Only question in their mins is: "How spread it is, and do our customers use it and does it pays off to get trough HELL of administration to enable usage of it trough our service".
And last part is what's hlding em back (administration). Once laws get in place, they will jump on it like teenage boy would jump on porn star.


Title: Re: Paypal surveying about bitcoin.
Post by: Parazyd on June 14, 2014, 07:45:41 AM
This isn't paypal trying to "integrate" Bitcoin, it's paypal assessing the THREAT of Bitcoin.

Paypal is an awfully greedy company, we shouldn't be trying to get Bitcoin involved with Paypal, we should be lobbying to get eBay to adopt Bitcoin and/or integrate with a reputable service like Coinbase so we no longer need paypal for eBay.


You my friend have no idea how is PayPal working or how are they making money.  Bitcoin is no threat to PayPal AT ALL. Bitcoin is possible tool that they can use to earn even more money! Only question in their mins is: "How spread it is, and do our customers use it and does it pays off to get trough HELL of administration to enable usage of it trough our service".
And last part is what's hlding em back (administration). Once laws get in place, they will jump on it like teenage boy would jump on porn star.

We have to stop using PayPal. It's no good.


Title: Re: Paypal surveying about bitcoin.
Post by: gelar24 on June 14, 2014, 07:59:08 AM
yes i hope paypal can use bitcoin :)


Title: Re: Paypal surveying about bitcoin.
Post by: chaosPT on June 14, 2014, 09:08:01 AM
Paypal they hate bitcoin you sure they are surveying ?

It will cut off a lot profit for them .


Title: Re: Paypal surveying about bitcoin.
Post by: Nawaytes on June 14, 2014, 09:20:28 AM
it's not impossible if paypal accept bitcoin. if bitcoin is always stable :D


Title: Re: Paypal surveying about bitcoin.
Post by: deadley on June 14, 2014, 09:24:42 AM
it's not impossible if paypal accept bitcoin. if bitcoin is always stable :D

Its all depends how stable will be price of Bitcoins, more stable price more merchants will accept bitcoins.


Title: Re: Paypal surveying about bitcoin.
Post by: LostDutchman on June 14, 2014, 09:25:32 AM
If this is survey is administered to all their users (mainstreamers) pay pal will realise that 95% of the population sees no need for bitcoin

Exactly.


Title: Re: Paypal surveying about bitcoin.
Post by: Este Nuno on June 14, 2014, 09:45:26 AM
If this is survey is administered to all their users (mainstreamers) pay pal will realise that 95% of the population sees no need for bitcoin

Exactly.

5% is pretty good if you ask me though.


Title: Re: Paypal surveying about bitcoin.
Post by: chaosPT on June 14, 2014, 09:51:48 AM
a 5% could raise to 50% it just like a seed to a tree .


Title: Re: Paypal surveying about bitcoin.
Post by: deadley on June 14, 2014, 09:53:48 AM
a 5% could raise to 50% it just like a seed to a tree .

Even 25% of Paypal user do not know what is Bitcoin. Its not easy to raise 50% .


Title: Re: Paypal surveying about bitcoin.
Post by: paythrough_team on June 14, 2014, 10:15:59 AM
Paypal when adding BTC


Title: Re: Paypal surveying about bitcoin.
Post by: marcotheminer on June 14, 2014, 11:17:46 AM
We should rather focus on the next 'paypal' that is solely based on bitcoin.... RATHER than get them to implement it with fiat..


Title: Re: Paypal surveying about bitcoin.
Post by: Parazyd on June 14, 2014, 11:22:47 AM
We should rather focus on the next 'paypal' that is solely based on bitcoin.... RATHER than get them to implement it with fiat..

Bitcoin is the PayPal with "only Bitcoin" :D


Title: Re: Paypal surveying about bitcoin.
Post by: Gervais on June 14, 2014, 12:20:54 PM
I'm glad theyre doing it even though I'm not a fan of PayPal, but I think most of their customers wont even know what bitcoin is.


Title: Re: Paypal surveying about bitcoin.
Post by: sukamasoto on June 14, 2014, 02:45:28 PM
will be very useful for many people if they can work together


Title: Re: Paypal surveying about bitcoin.
Post by: Este Nuno on June 14, 2014, 03:22:06 PM
We should rather focus on the next 'paypal' that is solely based on bitcoin.... RATHER than get them to implement it with fiat..

Bitcoin is the PayPal with "only Bitcoin" :D

Not really. The transferring value part. But not the consumer protection(or stealing your money :P) part. Also the currency conversion and things like that. Bitcoin is just a a barebones protocol. Eventually we'll see a bitcoin PayPal I think.


Title: Re: Paypal surveying about bitcoin.
Post by: ajareselde on June 14, 2014, 05:04:20 PM
Paypal when adding BTC

never, im pretty sure.
there is simply no need for them to make such a move.
would you add bitcoin if u were to be CEO of paypal ? i think not


Title: Re: Paypal surveying about bitcoin.
Post by: Este Nuno on June 14, 2014, 05:44:28 PM
Paypal when adding BTC

never, im pretty sure.
there is simply no need for them to make such a move.
would you add bitcoin if u were to be CEO of paypal ? i think not

Why not? Why wouldn't they add btc just like they would add any other currency?

The CEO was just on record saying he OWNS bitcoins. So he can learn about them.


Title: Re: Paypal surveying about bitcoin.
Post by: moriartybitcoin on June 14, 2014, 06:07:47 PM
paypal is likely to go out of business before they get on the bitcoin bandwagon ..


Title: Re: Paypal surveying about bitcoin.
Post by: LostDutchman on June 15, 2014, 12:41:57 AM
paypal is likely to go out of business before they get on the bitcoin bandwagon ..

Horseshit.


Title: Re: Paypal surveying about bitcoin.
Post by: Bibop on June 15, 2014, 12:50:56 AM
paypal is likely to go out of business before they get on the bitcoin bandwagon ..
any why do you think so?


Title: Re: Paypal surveying about bitcoin.
Post by: Beliathon on June 15, 2014, 01:07:37 AM
paypal is likely to go out of business before they get on the bitcoin bandwagon ..
Because Bitcoin eliminates the monopoly they have, thus destroying their business model of being price-gouging middlemen.


Title: Re: Paypal surveying about bitcoin.
Post by: LostDutchman on June 15, 2014, 01:09:40 AM
paypal is likely to go out of business before they get on the bitcoin bandwagon ..
Because Bitcoin eliminates the monopoly they have, thus destroying their business model of being price-gouging middlemen.

Horseshit.


Title: Re: Paypal surveying about bitcoin.
Post by: jonald_fyookball on June 15, 2014, 01:11:49 AM
paypal is likely to go out of business before they get on the bitcoin bandwagon ..
Because Bitcoin eliminates the monopoly they have, thus destroying their business model of being price-gouging middlemen.

Horseshit.

That's your favorite thing to say


Title: Re: Paypal surveying about bitcoin.
Post by: cyberpinoy on June 15, 2014, 03:16:12 AM
http://thecoinfront.com/paypal-is-surveying-its-customers-about-bitcoin/

Dont know how much truth in this news, but if its true then very big news for Bitcoin communities.

I like the idea that Pay Pal wants to get involved, but it will hurt the reputation of what Bitcoin stands for, like with all Pay pal transactions, there are fees on top of fees and fees for the fees they have. everyone has fees, the person sending funds thru paypal gets fees, the person receiving the funds also gets fees. this is completely counterproductive to bitcoin, the ones that know what bitcoin is and how it works would never use pay pal, the ones that are ignorant of bitcoin would make pay pal filthy rich.

The problems Pay Pal faces is its ability to secure transactions, without setting up some kind of escrow, which if set up by paypal would incur yet more fees, there is no way to gurantee a transactions funds for product.

the other problem they face is people like us would not use Pay pal for transactions, we dont need them, Bitcoin itself is a paypal account all by itself, we dont need an online transacting ability to send our coins anywhere, the most they could do to profit from bitcoins is set themselves up to be an escrow company only.


Title: Re: Paypal surveying about bitcoin.
Post by: ShakyhandsBTCer on June 15, 2014, 04:08:49 AM
paypal is likely to go out of business before they get on the bitcoin bandwagon ..
Because Bitcoin eliminates the monopoly they have, thus destroying their business model of being price-gouging middlemen.

Paypal also serves an a central authority, putting you at their mercy when they think you have somehow done wrong.


Title: Re: Paypal surveying about bitcoin.
Post by: molecular on June 15, 2014, 04:29:52 PM
PayPal is a payment processor. Bitcoin is money.

The two go together very well.

PayPal can act as a bank (safekeeping users Bitcoins) and offer the usual consumer protection (Like chaegebacks) to it's customer base. For a fee to be paiyed by the merchant.


Title: Re: Paypal surveying about bitcoin.
Post by: blatchcorn on June 15, 2014, 04:36:42 PM
PayPal is a payment processor. Bitcoin is money.

The two go together very well.

PayPal can act as a bank (safekeeping users Bitcoins) and offer the usual consumer protection (Like chaegebacks) to it's customer base. For a fee to be paiyed by the merchant.
Sorry but bitcoin is money and a payment network, which reduces the need for payment processors.

But I do see your point that Pay Pal can serve a role in making bitcoin more mainstream-friendly


Title: Re: Paypal surveying about bitcoin.
Post by: haploid23 on June 15, 2014, 05:38:18 PM
If paypal will accept bitcoin as a form of payment, do you really think they'll do it free? Seeing their exorbitant fees around every corner, they'll want a cut of the profit if they integrate crypto currency.


Title: Re: Paypal surveying about bitcoin.
Post by: ShakyhandsBTCer on June 16, 2014, 03:49:17 AM
PayPal is a payment processor. Bitcoin is money.

The two go together very well.

PayPal can act as a bank (safekeeping users Bitcoins) and offer the usual consumer protection (Like chaegebacks) to it's customer base. For a fee to be paiyed by the merchant.
Sorry but bitcoin is money and a payment network, which reduces the need for payment processors.

But I do see your point that Pay Pal can serve a role in making bitcoin more mainstream-friendly

Paypal is something that takes massive fees in the name of consumer protection.

Palpay is what bitcoin is trying to overcome as it is centralized and carries massive fees.


Title: Re: Paypal surveying about bitcoin.
Post by: tidda on June 16, 2014, 10:37:32 AM
Asking people who don't even know what Bitcoin is how likely they would be to recommend it to a friend?
Is this directed at Bitcoin users somehow?


Title: Re: Paypal surveying about bitcoin.
Post by: bryant.coleman on June 16, 2014, 02:59:12 PM
Asking people who don't even know what Bitcoin is how likely they would be to recommend it to a friend?
Is this directed at Bitcoin users somehow?

No. The survey was limited to the registered users of Paypal. Even among them, 10% preferred Bitcoin to Paypal.  ;D That should give enough worries to the Paypal management to think about.


Title: Re: Paypal surveying about bitcoin.
Post by: LostDutchman on June 16, 2014, 04:04:32 PM
paypal is likely to go out of business before they get on the bitcoin bandwagon ..
Because Bitcoin eliminates the monopoly they have, thus destroying their business model of being price-gouging middlemen.

Horseshit.

That's your favorite thing to say

When it is applicable, it sure is!

;)