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RodeoX
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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May 16, 2013, 05:30:56 PM |
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This is big. I think PayPal may be trying to capitalize on Mt.Goxes misfortune. Could bitcoin and her frienemy PayPay get married?
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fitty
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May 16, 2013, 05:32:52 PM |
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Very nice!!
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joesmoe2012
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May 16, 2013, 05:37:31 PM |
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Great just what we need, PayPal having absolutely anything to do with bitcoin.
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lysr
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May 16, 2013, 05:39:04 PM |
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Good news for Bitpay, not so much for Bitcoin.
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samson (OP)
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May 16, 2013, 05:48:43 PM |
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These guys are the founders from Paypal investing in BitPay. It's not like it's Paypal directly investing in BitPay.
The way I'm thinking is : They did the almost impossible before, maybe they'll do it again but this time with BitPay instead of PayPal.
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RodeoX
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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May 16, 2013, 05:58:06 PM |
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These guys are the founders from Paypal investing in BitPay. It's not like it's Paypal directly investing in BitPay.
The way I'm thinking is : They did the almost impossible before, maybe they'll do it again but this time with BitPay instead of PayPal.
I see what your saying. But I wonder if they are buying a piece of BitPay with the intention of an eventual takeover. Why else would they invest in a competitor? |
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Hawker
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Merit: 1001
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May 16, 2013, 06:00:11 PM |
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These guys are the founders from Paypal investing in BitPay. It's not like it's Paypal directly investing in BitPay.
The way I'm thinking is : They did the almost impossible before, maybe they'll do it again but this time with BitPay instead of PayPal.
I see what your saying. But I wonder if they are buying a piece of BitPay with the intention of an eventual takeover. Why else would they invest in a competitor? Paypal was started as a rebellion against the useless banks that were stifling online business. These guys may still have fire in their bellies  |
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samson (OP)
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Activity: 2097
Merit: 1070
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May 16, 2013, 06:02:09 PM |
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These guys are the founders from Paypal investing in BitPay. It's not like it's Paypal directly investing in BitPay.
The way I'm thinking is : They did the almost impossible before, maybe they'll do it again but this time with BitPay instead of PayPal.
I see what your saying. But I wonder if they are buying a piece of BitPay with the intention of an eventual takeover. Why else would they invest in a competitor? Paypal was started as a rebellion against the useless banks that were stifling online business. These guys may still have fire in their bellies Do they still even own Paypal ? |
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notme
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Activity: 1904
Merit: 1002
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May 16, 2013, 06:04:37 PM |
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These guys are the founders from Paypal investing in BitPay. It's not like it's Paypal directly investing in BitPay.
The way I'm thinking is : They did the almost impossible before, maybe they'll do it again but this time with BitPay instead of PayPal.
I see what your saying. But I wonder if they are buying a piece of BitPay with the intention of an eventual takeover. Why else would they invest in a competitor? Hedging/Risk Management |
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Ploo
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May 16, 2013, 06:04:55 PM |
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If only they instead used their expertise to bring about a reliable bitcoin exchange.
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samson (OP)
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May 16, 2013, 06:05:14 PM |
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I wonder if this news came out today in response to WebMoney announcing that they're now accepting Bitcoin.
I think the race is on to become the 'paypal of bitcoin'.
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Hawker
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Merit: 1001
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May 16, 2013, 06:05:46 PM |
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...snip... Paypal was started as a rebellion against the useless banks that were stifling online business. These guys may still have fire in their bellies Do they still even own Paypal ? eBay bought them out making them richer than Croesus. |
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fitty
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May 16, 2013, 06:06:15 PM |
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These guys are the founders from Paypal investing in BitPay. It's not like it's Paypal directly investing in BitPay.
The way I'm thinking is : They did the almost impossible before, maybe they'll do it again but this time with BitPay instead of PayPal.
I see what your saying. But I wonder if they are buying a piece of BitPay with the intention of an eventual takeover. Why else would they invest in a competitor? Paypal could just integrate Bitcoin right now. They don't need to buy anyone. But this has nothing to do with Paypal. http://www.foundersfund.com/Luke Nosek, Ken Howery, Peter Thiel don't even work at Paypal anymore. This is a fund to help tech startups. It's just throwing the Paypal reference because it adds some weight to the whole e-commerce heavyweight angle. |
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fitty
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May 16, 2013, 06:06:44 PM |
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...snip... Paypal was started as a rebellion against the useless banks that were stifling online business. These guys may still have fire in their bellies Do they still even own Paypal ? eBay bought them out making them richer than Croesus. Correct. They don't work at Paypal. |
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samson (OP)
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Activity: 2097
Merit: 1070
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May 16, 2013, 06:07:04 PM |
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...snip... Paypal was started as a rebellion against the useless banks that were stifling online business. These guys may still have fire in their bellies Do they still even own Paypal ? eBay bought them out making them richer than Croesus. So here they are again, about to launch something that could replace Paypal. I would expect Paypal to do something about this. We already know they've been looking into Bitcoin. |
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nicolazza
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May 16, 2013, 06:18:48 PM |
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this will put some pepper in paypal ass
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Ozymandias
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May 16, 2013, 06:25:00 PM |
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Bitpay is having some week! First they hire Jeff Garzik and now they're being bankrolled by paypal founders. Good for them!
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Chalkbot
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May 16, 2013, 06:37:53 PM |
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This is great news, mainly for the publicity it offers, as I read that Bitpay wasn't necessarily looking for further funding right now.
Bitcoiners will often put down Bitpay, as they are bridging the gap between ecommerce and bitcoins with dirty fiat currency, but that is a critical step toward mainstream adoption. Imagine Bitpay becoming so prolific that nearly everyone accepts bitcoin through Bitpay, because, why not? At that point they are no longer necessary, users/suppliers/merchants will start to realize that they can save a little money/time by just sending the bitcoins directly to each other instead of routing through a third party. Thus true adoption begins, and the transition is quite painless.
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BTC Books
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May 16, 2013, 06:58:21 PM |
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If you do a little research, you discover that once upon a time, Peter Thiel was quite the firebrand. His concept of what PayPal was created for, and what it could become, was remarkably revolutionary and disruptive. He was essentially an anarcho-bitcoin fanatic, with the goal of ending what he saw as a totally corrupt world financial system.
So there's two possibilities here. Either 1.) he's back on track and hoping to right his past failure, or 2.) he's hoping to sell out again for even more this time.
I can't say that I favor the odds of either one of those over the other.
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Dankedan: price seems low, time to sell I think...
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