Bitcoin Forum

Meanwhile I was reading in some places about the growing of several companies acepting BTC, saw other posts claiming the Paypal's integration or VISA's acceptance could be take troubles in long terms for cryptocurrencies. I was wondering how?

On the other hand, posts saying the integration mentioned before is a good signal, signal of companies that realized the importance of BTC and in a short future, other currencies. How is positive anyway?

As far as I can see, PAYPAL integrating with bitcoin is a good thing for bitcoin.  It means broader exposure and more changes to use it.  What would the negative be?

A lot of big retailers have started accepting Bitcoin but at the same time not many new avenues for purchasing Bitcoin have appeared.  I think there's currently an imbalance and new easy ways to acquire Bitcoin should probably be a good thing.

It's good. It's the needed bridge to pure bitcoin. Just a straight up shift from fiat to crytpo is hard, but a few years of hybrid will be nice.

even if paypal were helping bitcoin, i would go out of my way to try and use their service. they're already a juggernaut that is only interested in the bottom line. they're not looking to help anyone or give any handouts.

Of course it's good... It accounts for global acceptance...

charge back scammers -> bad press -> negative public perception that paypal/visa will insure fiat, but not bitcoin. -> people wont want bitcoin.

if only paypal tightened up the rules to not allow scammers to grab their FIAT back from victims, then bitcoin will be abused. we do not need paypal, we need a better, bug free alternative 'auction site'. yes i already know a few bitoin auction sites exist, my emphasis was on the 'better' and 'bug free' part

Doubt paypal will lower the fee for bitcoin low enough to hurt their own bottom line.

And as soon as buyer realize they don't even need paypal and deal with merchant directly, paypal will go away.

QFT One should be able to buy BTC instantly when needed with a cell phone. Preferably only by just putting the sum and pressing ok. Or why does someone, who has linked paypal/credit card in phone need to worry about conversion at all?

Then when retailers give a discount from BTC buys, even normal people would use it and slowly start to hold it.

This should happen *now* because it will be alot harder after one/two years when Apple gets their system up and running.

That's probably right.  But for the shortterm, Paypal accepting or supporting btc is a good thing i think.  The exposure will be great, and, as you say, hopefully many folks who find out about btc through paypal will end up ditching paypal for the "pure product".

We already have payment processor such as Coinbase and Bitpay. They only charge 1%. If Paypal wants to compete with them, its fee cannot be too high.

With more adoption the word will spread faster, it's certainly good for bitcoin health.

Both are too cumbersome and slow for someone who wants to get BTC immediately to purchase something.

Paypal + BTC is very good...  ;D

If Visa, Mater or other credit companies adopt digital currency, it is good for all of us.

All publicity is good publicity and all adoption is good adoption.  ;)

That is right.

I'm not so confident in the positive outcome.
All banking and payment monopoly is based on regulation and law.
Anti money laundry law, consumer protection against fraud, .... all those buzzword are made to raise the entrance price of new player in the payment industry.

Monopoly is established.

For working in payment industry one way to kill competitor is to force partner with him and force him to respect market standard !

The problem of bitcoin is that it doesn't care about use of money. It's just a media to transfer value, whatever the aim of the transfer.

VISA and all other are all linked to TRACFIN and global survey of money transfer.

So working with them is a dangerous game.
And Bitcoin can just be killed by communication: "look we tryed to integrate bitcoin in our solution, but it appears that it cannot satisfy our security standard about ....."

Also working with those player has the side effect of loosing the little freedom of use bitcoin introduced. Those infrastructure like VISA are designed to shift the control of money from owner to them.
Using a VISA credit card means you accept that 100% of your everyday habit and use, and also wealth estimation become strategical information for VISA and partner (government and law enforcement agency).

Bitcoin was reducing the cost for alternative use of money, you don't need to create offshore company, building complex scheme for obfuscating your money usage.

Working with such partner will report the same problems in the bitcoin world.

For example, i'm always feeling self mitigate when big retailer announce they are now accepting bitcoin.
Its an easy way to build a file of bitcoin holder that you can easily transmit to gov agency.
Because they now put a name on bitcoin holder.

It doesn't take away the _option_ that BTC gives you to stay anonymous and be your own bank. If you buy something from big corporations, you need to play with their rules in any case. With BTC you always have a way to stay anonymous and use your BTC for small retailers etc, if you wish.

Corporate adoption doesn't take away anything fundamental from BTC.

It will be good, but will influence on price. so all this will be good for BTC and make it more stable, but will make price of BTC lower since there will be more chances to spend them.

Lots of people against this, saying we need to promote our own crypto payment processors, like BitPay / Coinbase etc.

But the thing is, PayPal already has a huge user base and it's a household name. So for adoption, it would help a great deal, if we could target that market.

Higher adoption = higher price and that is good for my pocket.  ;)

I agree, I am seeing mixed opinions on PayPal accepting because people believe we should be pushing the payment systems we already have but the thing people do not seem to be realising is that PayPal is already very popular with so many people all over the world and having them accept bitcoin is one way to get the word out to those who either are unsure about bitcoin or do not know much about bitcoin. This in my opinion if PayPal do not start making silly policies could be a great thing for bitcoin.

Define 'good' and 'positive'. Those words mean different things to different people in different situations.
If I could fund my PayPal account with Bitcoins and pay any other PayPal user in their currency of choice, that would be convenient. If I could receive funds from others through PayPal and withdraw those funds as Bitcoins, that would also be very convenient.

Yes, if this is way to the BTC stability is good step forward.

But that's not how the paypal visa works. It is, by all accounts, a regular credit card with a credit limit. You pay it off by transferring funds to your account by a certain date. I'm sure paypal would accept BTC to pay it, but all paypal is going to do is convert to USD to avoid volatility risk. So... what is the point?

The more Bitcoin gets used the better.

Conquer everything! Go Bitcoin!

Let's call it Visa debit card for digital currency.