Bitcoin Forum

EBay has dropped PayPal as it's chief payment processor. It has now adopted Adyen for its financial transactions. Adyen has a partnership with bitpay, I wonder if we will see crypto payment option in eBay real soon

Not until btc solves it high fee issue.

Right now the fees are cheap, probably because more users and services are adopting Segwit and LN will be adopted (currently it's being tested on mainnet and testnet) and seems like someone stopped spaming the BTC mempool. :)

LN is severely flawed and Segwit only is helping a bit. No way that any serious company would use blockchain technology for payment.

Why would anyone use BTC as a payment method? You have to be stupid or insane. Even a noob knows these days how volatile BTC price can be.

They dont actually accept bitcoin - they use a service like bitpay and immediately convert to fiat. A bitcoin user buying something is the same as a bitcoin user dumping their coins on an exchange but it makes bitcoin more attractive to hold.

Will not happens soon, big companies are sceptic to Bitcoin.
And PayPal will be always associated with ebay, maybe not in a direct manner.

Just was throwing it out there it was from this article I read earlier https://themerkle.com/bitcoin-may-come-to-ebay-as-platform-drops-paypal-as-main-payment-option/amp/?__twitter_impression=true

ebay-probably not, but paypal-possible.
It would make sense for them to become a large LN hub.

I remember that Vitalik Buterin said that in the age of the digital economy the 0.01$ fee is too big. Current BTC tx fee is lower than it was a month ago but it is still big for small transactions. Especially if you count that the BTC lost a lot in price.
Not necessary. They may just let users fund their accounts with bitcoin via Bitpay. Some payment systems already have that feature but they are not so widely accepted and after the account funding it is hard to withdraw those money because banks are not accepting transactions.
Why not? Some people are getting payed for their work in crypto, the other people don't have a chance  to create / fund their accounts in their country. There is a huge amount of benefits for crypto holders.

How would this work? The whole point of Ebay is the escrow/arbitration angle. Unless they're willing to sit on BTC for months and take the hit if the exchange rate collapses if they have to refund then it's going to open up a whole new world of scamming. Ebay would become even more unbearable than it already is.

They've probably already dealt with enough crypto related problems without it being official for them to never want anything to do with it in future.

Not likely at least in the short term, bitcoin still needs to solve many issues, bitcoin is a great store of value we all know that and it is an incredible investments but if we are honest for a second we should recognize that as a currency bitcoin sucks big time, we hope the lightning network is going to change that and I believe it will but until it does there is not a reason for anyone not involved deeply in cryptocurrencies to accept bitcoin as a payment method.

if they do it now it is possible that they are going to accept "cryptocurrencies" in general not just bitcoin specially if they use something like BitPay to process the payments. unfortunately bitcoin lost a lot of merchant trust and adoption because of its ridiculously high fees.

but if they do it in the future like a year from now, it is pretty convenient to use something like Lightning Network to do it immediately and with low fees, granted we can come up with a way to keep the on chain transactions cheap also.

I am not sure ebay will accept bitcoin soon, high transaction fee and volatility nature of cryptos is one reason companies like ebay may not accept bitcoin except if there are means for them to convert cryptos accepted to fiat immediately.

If they really want to adopt bitcoin they would have done it sooner, But the thing is bitcoin is volatile and we can never say when it can be all red and all green, It is simply unpredictable but I think if we can achieve the last price cap for it and it can become stable I really think many will sure accept it and let's just wait if the lightning network really works.

It's too early to say whether LN will be a factor for BTC's acceptance with the likes of Ebay imo.  And does Bitpay process other cryptocurrencies other than BTC?  Afaik, they only process BTC...  I haven't heard of them accepting alts.

I think the payment platforms have come up with a temporary solution by batching transactions. Then again, it is only a bandaid solution and we need one that's long term and free from any hiccups if possible since these are big businesses we are talking about.

Notice the fee on https://bitcoinfees.earn.com it's 130 satoshis per byte unlike before that it reached 1k sats per byte. As if you are worried with the high fees then you shouldn't now because it was lowered.

If that is so the we will see eBay having its choice to pay with bitcoin soon but for now if they adopted Adyen then its adyen as long as it will be bitcoin then we'll see it in the future.

BCH could be a real contender for alternative means of payment... but first regulators need to be more clear on where they stand.

Stop shilling your BCH. Bitcoin is good as means of payment now and whether eBay, amazon or any online shopping center start accepting bitcoin it can be use now as currency.
Know the regulation of your country and you'll know their stand about bitcoin. No one does have an idea if eBay will soon take bitcoin but they will if amazon will start.

Fees are incredibly cheap. You can send a payment that will get confirmed within minutes with a 5$ fee. Considering I should have burnt 200$ in fees on PayPal in a single day, that is dirt cheap !