Paypal is seeking Advice regarding Cryptocurrency

[Dudeperfect]

I just asked Paypal, do they have any plans for cryptocurrencies and they said,





What do you think, What are your suggestions to help them in adapting cryptocurrency?

Best
Dudeperfect

[RodeoX]

Thanks for letting them hear your (and our) voice! They will eventually come around if they keep hearing it from users.

P.S. Are you the dudeperfect from youtube?

[franky1]

I just asked Paypal, do they have any plans for cryptocurrencies and they said,





What do you think, What are your suggestions to help them in adapting cryptocurrency?

Best
Dudeperfect

'passing the message on' is always their polite footnote message to end the conversation. its not something special or a hint that they are seeking advice.. its just standard customer service rep stuff to say to most conversations about any matter

paypal have actually already looked deep into bitcoin a couple years ago. the issues they came up against:
1. blockchain taint / risk of AML did not fit their regulatory policy they had to adhere to when dealing with customers/regulators
2. the purchasing/sell of bitcoin in and out of fiat is still a questionable area. exchanges are not fully regulated and dont have enough liquidity to match paypals needs
3. customer demand is less than 1% wanting/needing bitcoin so its not a top priority for them.

a couple years back people propositioned the community to spam paypal with emails requesting them to accept it. although doing so would raise the third point. it still wont solve the first and second point.

at this moment coinbase have negotiated with paypal to allow coinbase to withdraw fiat into customers paypal account
https://blog.coinbase.com/coinbase-adds-support-for-paypal-and-credit-cards-21968661d508#.du9u3thlr
but not the other way round due to the 'chargeback' scammer risk

but as for paypay offering bitcoin on paypals site or paypal selling bitcoin or paypal guaranteeing no chargeback risk on deposits into exchanges.. i dont see that happening anytime soon.. paypal has too much red tape strangling it

paypal have however got something happening (beta testing) using their braintree subsidiary.. imagine it like paypal-bitpay hybrid where paypal customers can buy things from your ebay site by being diverted to braintree to take the payment in bitcoin
https://www.braintreepayments.com/payment-methods/accept-bitcoin

but as i said. its in beta test and not directly available as a built in paypal/ebay feature

[Dudeperfect]

I just asked Paypal, do they have any plans for cryptocurrencies and they said,





What do you think, What are your suggestions to help them in adapting cryptocurrency?

Best
Dudeperfect

'passing the message on' is always their polite footnote message to end the conversation. its not something special or a hint that they are seeking advice.. its just standard customer service rep stuff to say to most conversations about any matter

paypal have actually already looked deep into bitcoin a couple years ago. the issues they came up against:
1. blockchain taint / risk of AML did not fit their regulatory policy they had to adhere to when dealing with customers/regulators
2. the purchasing/sell of bitcoin in and out of fiat is still a questionable area. exchanges are not fully regulated and dont have enough liquidity to match paypals needs
3. customer demand is less than 1% wanting/needing bitcoin so its not a top priority for them.

a couple years back people propositioned the community to spam paypal with emails requesting them to accept it. although doing so would raise the third point. it still wont solve the first and second point

Completely agree Sir, The only thing we can do is to keep trying until bitpay could match PayPal's volume. In next 10 years we will see PayPal with bitcoin or bitcoin without PayPal.

P.S. Are you the dudeperfect from youtube?

Nope 

[bitbunnny]

I think that in their response to you they are more trying to be polite then actualy considering cryptocurrencies as their new service so I wouldn't take this seriously.
Maybe in the near future they will realize that cryptocurrencies, especialy Bitcoin, is inevitable and that they could expand their business and attract more clients if they embrace it. But before they do that they will definetely think twice.

[MANCRYPTOS]

I think PayPal can't do this in the near futures, because PayPal with bitcoin is very different. if PayPal will accept bitcoin then they must change some rules

[franky1]

paypal have however got something happening (beta testing) using their braintree subsidiary.. imagine it like paypal-bitpay hybrid where paypal customers can buy things from your ebay site by being diverted to braintree to take the payment in bitcoin
https://www.braintreepayments.com/payment-methods/accept-bitcoin

but as i said. its in beta test and not directly available as a built in paypal/ebay feature

[audaciousbeing]

Its a good development that they even acknowledge it and I want to believe that are really looking into it. Although that clause seems like a general statement from a customer care in other not to be seen rude in anyway but iI still believe that once government gives the support I am sure other stakeholders will fall in line.

[neochiny]

I think that in their response to you they are more trying to be polite then actualy considering cryptocurrencies as their new service so I wouldn't take this seriously.
Maybe in the near future they will realize that cryptocurrencies, especialy Bitcoin, is inevitable and that they could expand their business and attract more clients if they embrace it. But before they do that they will definetely think twice.

I agree. I'm not reading any positive indications that they're truly considering your/our suggestions regarding cryptocurrencies.
All I'm seeing is the typical "polite" reply from a representative.
Now, if there was some "official" confirmation or announcement, then that's another thing entirely.

So, I for one, am not gonna put my hopes up. Not gonna happen within the year.
Of course, I do hope I'm wrong.

[strasboug]

Not sure how Paypal can integrate with the bitcoin. Paypal is strongly reversible, they reverse a lot transactions, but bitcoin's transaction is final and irreversible. So it will be tough for them to integrate...

[DomainMagnate]

Until and unless bitcoin is adopted by mass or at least 60% of people from world population start using bitcoin,I do not think PayPal is going to accept bitcoin or any other crypto for that matter

[Tanic]

Thanks for letting them hear your (and our) voice! They will eventually come around if they keep hearing it from users.

P.S. Are you the dudeperfect from youtube?

Well, I think they have to seek on that sources that already adopted bitcoin payments. I'm very glad PayPal has plans to adopt bitcoin, I'm oftenly buying on eBay and use PayPal for payment transactions. It would be great to pay with bitcoins directly to skip unnecessary taxes that cashing out asks for.

[-ck]

Just looks like a canned polite response to me. Alas, nothing to see here, move along.

[Playboi]

are you the same dudeperfect from youtube?
i just came accross a random video of you flipping shit

[LeGaulois]

What reply do you except from a community manager. He can't tell much, and maybe doesn't know crypto
You just wasted his time  

And Paypal is too busy with their algo used for govts

[KennyR]

Sure when users continuously raise such questions, soon we can see PayPal into cryptocurrency transactions. Right now the market capital too have increased enormously within a short time period. Importantly to keep their users without distraction towards technology, probably adoption of digital currency takes place.

[ethereumhunter]

its too soon for paypal to integrate with bitcoin although its the best step for paypal if they do this, because if paypal do this, then paypal can reach more people in two type of payment, fiat and bitcoin. but i don't think that bitcoin user will use this, because in paypal account, we should send document to and credit card to make our account verified and some of bitcoin user don't want to send their docs and they want to stay in behind the door for their private.

[Dudeperfect]

Yes probably they just wanted to be kind to me, and the community manager might not have any idea about what cryptocurrency is all about.

It feels wrong when you see something that is going to change the traditional practices and when you try to share that vision with someone with whom you used to deal with, and they refuse to accept it (using best possible positive words).

We can see the same future, what Google saw in the late nineties and Paypal is doing the same what Yahoo did in the same period.  I won’t be surprised if I see Bitpay having more turnover and user base in next 10 to 15 years than that of Paypal.

PS – I am not the Dudeperfect of youtube, I am Dudeperfect of Bitcointalk.

[BitcoinBarrel]

PayPal needs to seek advice on how to not give money to Chargeback scammers.

[talkbitcoin]

this is not an indication of anything. they all say the same thing, they technically say "we will think about it" only because they don't want to say no right to the face of their customer and possibly make him unsatisfied and also at the same time they want to reserve the possibility to maybe do it someday and nobody can say "they said no and came around because they are desperate."