2013-04-30 Bitcoin’s Biggest Impact Could Be Changing How Others Build Products

[gweedo]

http://techcrunch.com/2013/04/30/disrupt-digital-money-panel-on-bitcoin/

What do digital payments companies make of Bitcoin? Here at TechCrunch Disrupt NY, a digital money panel featuring PayPal, Stripe and Gumroad gave its thoughts on the currency that has VCs emptying their bank accounts to invest afresh.

Stripe’s John Collison said what stands out most to him about Bitcoin is its accessibility. “Bitcoin is still pretty small in the scheme of things right now but the interesting thing about it is access. No one needs to enable Bitcoins for South Africa, for Pakistan, no one can prevent you from having it. It’s everywhere.

[StarfishPrime]

[Paypal's] Ferguson also sounded a skeptical note. “What problem is Bitcoin trying to fix? There’s no clear answer.”

From an online vendor's standpoint, the answer is pretty clear: Paypal is the problem that bitcoin is going to fix!

Paypal has recently suggested that they may adopt bitcoin as a funding method, this seems quite likely. Unfortunately, that won't change anything from a vendor's standpoint since Paypal would receive the advantages of bitcoin payments, while vendors would stlll be stuck with the fees and random fraud/chargebacks associated with Paypal payments.

[Maciek]

[Paypal's] Ferguson also sounded a skeptical note. “What problem is Bitcoin trying to fix? There’s no clear answer.”

From an online vendor's standpoint, the answer is pretty clear: Paypal is the problem that bitcoin is going to fix!

+1

[Stephen Gornick]

http://techcrunch.com/2013/04/30/disrupt-digital-money-panel-on-bitcoin/

The question on Bitcoin was right at the end, about 24:15 in.

Gumroad uses Stripe so there was really only two companies interviewed -- Stripe which allows online merchants in a limited number of countries to accept payment cards for e-commerce payment, and PayPal.

Jon Matonis nailed it when (in one of his articles) he described Bitcoin as being the elephant in the room.   They simply are ignoring Bitcoin because, today, they can.

Bitcoin is doing what they can't afford to do due to them being hobbled by AML regulations.

[Mike Christ]

[Paypal's] Ferguson also sounded a skeptical note. “What problem is Bitcoin trying to fix? There’s no clear answer.”

From an online vendor's standpoint, the answer is pretty clear: Paypal is the problem that bitcoin is going to fix!

Paypal has recently suggested that they may adopt bitcoin as a funding method, this seems quite likely. Unfortunately, that won't change anything from a vendor's standpoint since Paypal would receive the advantages of bitcoin payments, while vendors would stlll be stuck with the fees and random fraud/chargebacks associated with Paypal payments.

Yeah I don't really understand this.  The only way PayPal can improve Bitcoin is to enable the less tech-savvy of us to use their Bitcoin without worrying about a wallet (with the downside of having to put up with PizzlePazzle's shenanigans.)  Sadly, I'm certain a whole lot of folks will get suckered into using PayPal with Bitcoin.