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Title: why does paypal not like bitcoin traders? Post by: paypalguru on January 01, 2014, 11:23:21 PM Title says all, hope for answers why this is so.
paypalguru Title: Re: why does paypal not like bitcoin traders? Post by: tmullett on January 02, 2014, 12:12:06 AM Traders specifically or Bitcoin in general?
Paypal could see the Bitcoin network as competition, and transformative competition at that.. Once upon a time, there were questions about whether Paypal would be legal, and they had Mastercard and Visa looking at them as transformative competition to be thwarted. Now they're on the other side of the divide and, like any incumbent, shouldn't be expected to be very happy with a newcomer in their market. Bitcoin takes the disintermediation PayPal started to another level entirely, requiring no intermediary at all if both parties are happy with the cryptocurrency and don't need it immediately transformed into something else. If a party does need the coins transformed into their local currency, somewhere along the way an exchange needs to be involved. That "last mile" into fiat is a necessary enabling capability until people begin to think of Bitcoin as a unit of account instead of just translating BC prices into $ (etc.) for every transaction. If I were PayPal, MC, Visa etc. trying to impede Bitcoin adoption, I'd be going after the early enabling capabilities. Title: Re: why does paypal not like bitcoin traders? Post by: black_swan on January 02, 2014, 12:14:56 AM My guess is that paypal and money others doesn't like it bitcoin is
1 decentralized network 2 transactions are final 3 it's not clear the position of many governments. This is just to start. Title: Re: why does paypal not like bitcoin traders? Post by: Kalroth on January 02, 2014, 12:30:06 AM Paypal is a US company and regulated much like a US bank. It'll be a cold day in hell before they implement any form of unregulated cryptocoins.
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