Bitcoin and PayPal together?

[rexxarofmoknathal]

So I recently heard that the guy who started up Xapo was appointed to the board of directors at PayPal, which I think is a very interesting move, since they are competitors. The thing is, I'm confused as to their motives. I figured that they could perhaps be wanting to bring someone on to help integrate bitcoin into their system (which I think is unlikely) or they want to bring someone in who would help them "beat" bitcoin. What's your take on this?

[WENGER]

In my opinion it's more likely that they did this move in order to make and find a way to beat Bitcoin system as clearly they feel threatened to how amazing the whole Bitcoin system works and their afraid that they lose their place as most used online type of payment.

[Jeremycoin]

Stay positive, I think maybe they just want to make Bitcoin better. And however, no one will take Bitcoin down.

[rexxarofmoknathal]

Stay positive, I think maybe they just want to make Bitcoin better. And however, no one will take Bitcoin down.

I don't think they have any intention to make it better, I don't see how they benefit from that. And while they may not take it down, afaik people complain about PayPal being relatively slow and having high fees for transactions, so they may try to implement a bitcoin-like system to make quick, cheap transactions that deal in fiat. Maybe they will try to get people to switch from bitcoin to PayPal and become dominant again

[Imoote]

Competition between digital currency will indeed occur strictly see now that we are in the modern era.
If bitcoin is not holding the renewal and improvement of the performance of bitcoin will definitely be left far behind.
But I think today bitcoin still hold good renewal and improvement

[Rizky Aditya]

There is no point for putting Paypal and Bitcoin. People stopped using Paypal to start using Bitcoin. So yeah.........

[mad.enchantment]

There is no point for putting Paypal and Bitcoin. People stopped using Paypal to start using Bitcoin. So yeah.........

But bitcoin isn't accepted around the web while paypal does, having bitcoin linked to your payoal would be a great benefit for all bitcoin users like us

[OmegaStarScream]

Unless they take off limiting crap away and ability to make a chargeback dispute on 180 days period ... they can't take down anything , not bitcoin and not anything else.

[rexxarofmoknathal]

Pretty sure PayPal is bigger than bitcoin in terms of user (I think). Bitcoin still has some issues it has to floss out both technically and in the public view before it is really ready for widespread use.

[rexxarofmoknathal]

Unless they take off limiting crap away and ability to make a chargeback dispute on 180 days period ... they can't take down anything , not bitcoin and not anything else.

Bitcoin is being held back on chargebacks as well imo. I think there would be many more people using bitcoin if they could obtain them by using PayPal funds. Mining isn't really an option for many, and I think there are people that are not entirely comfortable linking their bank to stuff like this

[BellaBitBit]

Paypal knows that it needs to address Bitcoin.  Having him on the board is IMO acknowledging Bitcoin which most large companies have refrained from doing. This is a positive sign that Bitcoin is definitely a contender in online payments and perhaps more.

[Jeremycoin]

Stay positive, I think maybe they just want to make Bitcoin better. And however, no one will take Bitcoin down.

I don't think they have any intention to make it better, I don't see how they benefit from that. And while they may not take it down, afaik people complain about PayPal being relatively slow and having high fees for transactions, so they may try to implement a bitcoin-like system to make quick, cheap transactions that deal in fiat. Maybe they will try to get people to switch from bitcoin to PayPal and become dominant again

Nope, it won't happen to Bitcoin users. We know that Bitcoin is better than PayPal, that's why whatever happens we won't leave Bitcoin.

[rexxarofmoknathal]

Stay positive, I think maybe they just want to make Bitcoin better. And however, no one will take Bitcoin down.

I don't think they have any intention to make it better, I don't see how they benefit from that. And while they may not take it down, afaik people complain about PayPal being relatively slow and having high fees for transactions, so they may try to implement a bitcoin-like system to make quick, cheap transactions that deal in fiat. Maybe they will try to get people to switch from bitcoin to PayPal and become dominant again

Nope, it won't happen to Bitcoin users. We know that Bitcoin is better than PayPal, that's why whatever happens we won't leave Bitcoin.

I feel like that's true for people who are either truly invested in bitcoin or are passionate about its cause and its technology. But there are plenty of people who are uncertain about bitcoin and countless numbers that have lost trust in it because of their experiences with some of its users.

[Imoote]

Paypal knows that it needs to address Bitcoin.  Having him on the board is IMO acknowledging Bitcoin which most large companies have refrained from doing. This is a positive sign that Bitcoin is definitely a contender in online payments and perhaps more.

Yes tough competition is bound to happen because it is now about to enter the era using digital money.
Bitcoin not to be missed with other competitors because if it happens to be very detrimental

[Kprawn]

Xapo integrated the best parts of both worlds... A service with off-chain transactions, with scalable fees and on-chain transactions linked to the Blockchain. I think PayPal find

the off-chain portion of this relationship very attractive. They can implement the same service and have full control over the fee structure and still make use of the Blockchain

technology. They can manage customer disputes and block accounts and stop withdrawals if there are complaints. I can see the reasons why they would want to use that.

[Amph]

i can't see how they can handle chargeback with the integration of bitcoin, thye know they can not ensure the refund just in case the seller is a prick or something

on the other hands they would benefit from the lower fee

[prtty2gal2]

i can't see how they can handle chargeback with the integration of bitcoin, thye know they can not ensure the refund just in case the seller is a prick or something

on the other hands they would benefit from the lower fee

If Paypal integrates bitcoin, that would boost bitcoin usage more. Many people/merchants will come to know about bitcoin. So, it must come in reality for bitcoin sake....

[bitgolden]

i can't see how they can handle chargeback with the integration of bitcoin, thye know they can not ensure the refund just in case the seller is a prick or something

on the other hands they would benefit from the lower fee

If Paypal integrates bitcoin, that would boost bitcoin usage more. Many people/merchants will come to know about bitcoin. So, it must come in reality for bitcoin sake....

Yes Paypal has some potential to take bitcoin to many merchants who still hesitate on adopting bitcoins. It must be a good idea that Paypal and bitcoin together. Soon, we may see another thread for WU and BTC ?

[rexxarofmoknathal]

While I'm seeing the benefit this could bring for bitcoin, I'm still having some struggles understanding what benefit PayPal gets from this? Unless they somehow charge and take in money off bitcoin transactions through them, would they not potentially be losing customers?

[moonshine1212]

i think they will be rival firms for future but if they can work in same sector it is for within two can be useful and profitable business