Bitcoin Forum

Read this one in Bloomberg

EBay’s PayPal Unit to Start Accepting Bitcoin Payments
http://www.bloomberg.com/news/2014-09-08/ebay-s-paypal-unit-to-start-accepting-bitcoin-payments.html

Oh yeah!! This will surely be a big thing for bitcoin

its already done, Paypal how now switched the story to them accepting it very soon

It is still too early to say that Paypal will start accepting Bitcoin in the near future. As things stand now, Bitcoin is one of the top rivals for Paypal, and has the capacity to obliterate the latter. We still don't know for sure who was behind Braintree's idea to accept Bitcoins. There is a chance that the whole thing was done without any approval from the Paypal board of directors.

Could this make bitcoin price jump up to 700 dollars or something like that?

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This hype has gone on for so long, and it seems it is materialising. Good for PayPal and for us!  ;D

I don't understand why this news haven't created a rise of the price. Can someone explain this to me?

It is very surprising that paypal is talking about accepting bitcoins. It could be a great thing for bitcoins and we might see a huge rise and stability in bitcoin price.

Well obviously bitcoin price doesn't rise everytime we get some good news. Plenty of big merchants have accepted bitcoin and the price didn't do anything, in fact sometimes it went down.

Is that possible the paypal board of directors wouldnt know the advertising department is about to mention bitcoin in their next youtube video? seems like a strange way to run a company if so considering what bitcoin is and means.

If Paypal adopts BTC, it can also charge fees, but maybe limited to 1%, similar to coinbase or bitpay. I am very interested in storing BTC in my Paypal account and use it in purchasing goods.

Indeed, BTC in a wallet that is integrated almost everywhere and has your various delivery addresses saved.  I assume this is what they will offer.  Or they could link it to your online wallet (e.g. Coinbase) and pull coins from there.  Either way, perfect for spending coins where your privacy isn't too much of a concern.

Hey, it isn't done yet! Paypal will very probably allow BTC transactions, but what's the point?

BTC are nearly anonymous with a very low fee. If paypal  makes them official person to person transactions with a high fee, I'm not sure it's an improvement. Still it could be great news, if paypal becomes an exchange. Most exchange companies today are small companies which can go bust (MtGox), none would stand up against paypal, which would become the dominant player. I'd say this is what they have in mind.

We are living in the mutha fuckin future right now people!

This is what I'm wondering. I reckon they'll just create their own version of bitpay and it'll essentially just be a paypal version of that. I think this is going to be great for adoption if you can use bitcoin to pay for anything where they accept paypal.

So there will be no more post of "PAYPAL BLOCKED MY ACCOUNT BECAUSE IM TRANSACTING BITCOIN" ?

I would not count on it just yet.  They may actually get more strict if they want people to use just their Bitcoin services for exchange, rather than buying like a good/service

What will happen if someone hacks in to your Paypal account and steals all the coins held there? Will Paypal issue a refund? Also, what makes you think that Paypal will charge just 1% fee? For fiat, they are charging around 3-4% in fees, plus other indirect charges. Why should Paypal lower their fees, just to attract a few thousand more users?

To me paypal's main reason to get into bitcoin is to grab the business of the unbanked.  They cant do this with fiat as well as with bitcoin.  Mobile payments are growing.  Unbanked will use mobile payments.

They'll probably just deal with thefts how they deal with fiat thefts, though they're probably going to have to change their ways somehow especially with how rife fraudulent chargebacks are.

Not using paypal for bitcoin maybe for 3 years. I want Paypal not to fck up when I am with them.

I think this is a very good news  :D ,  to da moon !

The revolution will not be televised but will be posted in this forum  8)

It's great news and will certainly be big for bitcoin but I can not help myself on thinking that maybe for a while at least it may be risky to use it We know the problems that PayPal can have using USD and GBP so what is to say it will be any better as early on as them just accepting it?

Fee's are also something I will definitely look into before even considering using it as we all know what PayPal is like for fee's.

Im sure you will have to send or receive bitcoins via coinbase, since that is who they partnered up with. So, it will be interesting how its implemented. I think we will just see a link to coinbase.

Better than nothing, but I really expected paypal will be interested to provide exchange service itselves and keep the fees.

I've never been a fan of Paypal, but this is big news for bitcoin. The time to buy is right now.

From the looks of it paypal is going to be essentially be only buying bitcoin (at a discount - this discount would be their "fee") and selling the purchased bitcoin via coinbase via their merchant services.

Paypal would never ......okay wait, but amazon will never accept bitcoin  :P

Tell me why do you need PayPal at all if you use Bitcoin??

Gotta get their thumbs into the bitcoin pie somehow

Paypal is shit with the fees, i hope we can get btc soon

We still need payment processors like coinbase. Paypal will be useful for adoption in the mainstream.

I think so. Paypal can have its own BTC wallet system. We can store BTC and spend from there.

Yes, plus Paypal its a huge brand these days, it would only help if they addopt BTC, we dont need to fight. What worrie me tho is the fees. Would they steal BTC from us with their ridiculous fees?

I used to say they will never accept BTC, but they are inching closer. It really would be dumb of them to miss the opportunity bitcoin could become. It would involve so little set up on their part and such a tiny risk of capitol.
There are several revenue streams they could exploit. Secure storage of BTC, ability to spend in many new places, legal options in cases of fraud. It could be a money maker for PayPal.  

I think it would be wise for Paypal to be more accepting of bitcoin in the future. If can't beat them join them, as they say.

If their fee is too high, it is profitable to compete with Paypal, so the fee will be lower.

We dont need paypal to do the job for us we should make a paypal like bitcoin service to make it easy to fiat exchange

There's already bitpay and a few others, but Paypal is currently used by a lot more businesses. Paypal may not be needed, but it's defiantly good news that they have decided to embrace Bitcoin.  It reinforces the fact that Bitcoin is something to pay attention to.

Bitcoin embraced paypal, paypal embraced bitcoin. what people should do is embrace change. Thats how everything goes in the world.

Paypal is used to buy things and send money to other persons it has nothing to do with an exchange of currencies.

As for your a bitcoin based Paypal , there is already Bitpay which I think it's in quite a bad situation right now.

Paypal has the financial muscle to develop BTC service better than other payment processors. Other processors will still survive if there is profit to make.

It has. So even from the start. Paypal has its eye on bitcoin.

Another paypal news today! Yeah.. This one is big!

hold on for a while... Not sure about it.! u wouldnt wanna get blocked unnecessarily.!

My thought exactly. What's the point, is PayPal delutional or something?

The past has finally decided to accept the present?

I don't get it.

It will take time for Paypal to implement that. We could have online wallet with Paypal and do fast off chain transaction.

What the point? What's the point in adoption? PP accepting bitcoin would be huge. You'd be able to spend your btc on ebay and anywhere that accepted PP.

Not really. Plenty of smart people work at Paypal. They don't want to go the way of Blockbuster Video.