Paypal stands against all what Bitcoin consitutes for. The anonymity is completely gone using Paypal as payment processor. It requires to register a credit card. The only advantage I can see is that Paypal will increase the Bitcoin price.
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IMO when you're gonna use with paypal it will still be a large fee even if its bitcoin related.
Bitcoin is essentially a threat to Paypal's revenue system. I just see them as someone trying to manipulate the price to make it look weak. They haven't officially started accepting bitcoins for peer to peer transfers, and even if they do, they will never have a system which does not generate them revenue.
