Bitcoin Forum
December 05, 2016, 12:37:36 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Poll
Question: When will PayPal start accepting bitcoin?
in 1 year. - 5 (13.9%)
in 2 years. - 3 (8.3%)
in 3 years. - 1 (2.8%)
in 4 years. - 1 (2.8%)
in 5 years. - 3 (8.3%)
after 5 years. - 0 (0%)
never. - 23 (63.9%)
Total Voters: 36

Pages: [1]
  Print  
Author Topic: When will PayPal start accepting bitcoin?  (Read 1090 times)
em3rgentOrdr
Sr. Member
****
Offline Offline

Activity: 434


youtube.com/ericfontainejazz now accepts bitcoin


View Profile WWW
July 01, 2011, 06:25:00 PM
 #1

Sure, paypal is the big kid on the block right now, but who's to say they won't start accepting bitcoin as one of many international currencies?

(Edit: I just added "after 5 years" and "never" as additional poll choices.)

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480898256
Hero Member
*
Offline Offline

Posts: 1480898256

View Profile Personal Message (Offline)

Ignore
1480898256
Reply with quote  #2

1480898256
Report to moderator
1480898256
Hero Member
*
Offline Offline

Posts: 1480898256

View Profile Personal Message (Offline)

Ignore
1480898256
Reply with quote  #2

1480898256
Report to moderator
rebuilder
Legendary
*
Offline Offline

Activity: 1618



View Profile
July 01, 2011, 06:29:50 PM
 #2

I won't try to predict when, if ever, they might do so, but I do think it's entirely possible they will if the market becomes big enough. There's been some sentiment here that Bitcoin is a direct competitor of Paypal, but I don't think that's really the case. Paypal is in the business of making it easier for people to send money to other people. Bitcoin does that too, to an extent, but as we've seen, keeping your wallet secure is a big task for many users, and if PayPal were to offer an Bitcoin wallet service, they could get a lot of users for that. Whether people would be willing to pay enough for the service for them to want to consider it is a different matter, but really I think PayPal would be just like any other on-line wallet service, only huge.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
---------------------------------------------------------------
Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
wolftaur
Member
**
Offline Offline

Activity: 112


View Profile
July 01, 2011, 06:36:19 PM
 #3

PayPal and Bitcoin aren't mutually exclusive at all, in one area that's pretty important for many buyers and sellers alike: Bitcoin is irreversible and that can be a big plus, but there are a lot of people who only use PayPal or similar when buying stuff because they want to be able to protect themselves. There are a lot of solutions to the problem -- reversible transactions is simply one. PayPal, Visa, and so forth, they take a cut in exchange for some measure of protection: Visa, for example, protects buyers from fraudulent merchants AND protects merchants from the loss when someone fraudulently makes a purchase with someone else's money. While there are a lot of people who would choose to have a no-fee transaction on both sides, and there are some people who would prefer things to be irreversible... Honestly, I've been burned enough times that the reality is the only way I'd ever use Bitcoins for a majority of my larger purchases is if I have a way of recovering my funds when a merchant rips me off. At the moment I often jump through a shitload of hoops to transfer everything I have into a specific bank account I have, just so that I have that bank's Visa fraud department to call if I have a problem with the purchase.

And that would simply be another case of free market offering multiple approaches, and individual consumers (in this case, both end-purchasers and merchants) can choose what they want.

"MOOOOOOOM! SOME MYTHICAL WOLFBEAST GUY IS MAKING FUN OF ME ON THE INTERNET!!!!"
Yankee (BitInstant)
Legendary
*
Offline Offline

Activity: 1078


Charlie 'Van Bitcoin' Shrem


View Profile WWW
July 01, 2011, 06:37:05 PM
 #4

Sure, paypal is the big kid on the block right now, but who's to say they won't start accepting bitcoin as one of many international currencies?

Simple, their TOS forbids currency changing so you cant buy BTC using paypal on exchanges.

HOWEVER..this is a way around it, and if you work closely with paypal, you can get it done

Coming soon: www.BitInstant.com - Providing Instant Transfer Services for the BitCoin Economy.

Instantly fund your exchange account with BitInstant using Paypal and Liberty Reserve

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
hamdi
Hero Member
*****
Offline Offline

Activity: 644



View Profile
July 01, 2011, 06:37:26 PM
 #5

paypal will never accept bitcoin

wolftaur
Member
**
Offline Offline

Activity: 112


View Profile
July 01, 2011, 06:40:23 PM
 #6

paypal will never accept bitcoin

They'll accept it the picosecond they think that they'll make more money if they do than they will if they don't. They'll be supporters of Bitcoin instantly if they conclude there's more profit to be had by supporting it than attempting to interfere with it. Whether they'll ever actually conclude that is the variable, but they're a corporation, they'll always do what they think will put the most money in their executives' pockets.

"MOOOOOOOM! SOME MYTHICAL WOLFBEAST GUY IS MAKING FUN OF ME ON THE INTERNET!!!!"
Grant
Full Member
***
Offline Offline

Activity: 168



View Profile
July 01, 2011, 06:48:45 PM
 #7


They'll accept it the picosecond they think that they'll make more money if they do than they will if they don't. They'll be supporters of Bitcoin instantly if they conclude there's more profit to be had by supporting it than attempting to interfere with it. Whether they'll ever actually conclude that is the variable, but they're a corporation, they'll always do what they think will put the most money in their executives' pockets.

It's never easy to predict what paypal will do. But i guess for bitcoin to have a chance to get accepted by paypal, and idea would be to do what Linden Lab does, stop calling the currency a currency, and just call it a "token" or "a license right to exchange services and goods against".

wumpus
Hero Member
*****
Offline Offline

Activity: 798

No Maps for These Territories


View Profile
July 01, 2011, 06:52:02 PM
 #8

stop calling the currency a currency, and just call it a "token" or "a license right to exchange services and goods against".
The difference is that bitcoin is no centralized entity, everyone can call it what they want. Most people already seem to call it a commodity...

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
em3rgentOrdr
Sr. Member
****
Offline Offline

Activity: 434


youtube.com/ericfontainejazz now accepts bitcoin


View Profile WWW
July 01, 2011, 07:12:33 PM
 #9

I won't try to predict when, if ever, they might do so, but I do think it's entirely possible they will if the market becomes big enough. There's been some sentiment here that Bitcoin is a direct competitor of Paypal, but I don't think that's really the case. Paypal is in the business of making it easier for people to send money to other people. Bitcoin does that too, to an extent, but as we've seen, keeping your wallet secure is a big task for many users, and if PayPal were to offer an Bitcoin wallet service, they could get a lot of users for that. Whether people would be willing to pay enough for the service for them to want to consider it is a different matter, but really I think PayPal would be just like any other on-line wallet service, only huge.

+1.

PayPal and Bitcoin aren't mutually exclusive at all, in one area that's pretty important for many buyers and sellers alike: Bitcoin is irreversible and that can be a big plus, but there are a lot of people who only use PayPal or similar when buying stuff because they want to be able to protect themselves. There are a lot of solutions to the problem -- reversible transactions is simply one. PayPal, Visa, and so forth, they take a cut in exchange for some measure of protection: Visa, for example, protects buyers from fraudulent merchants AND protects merchants from the loss when someone fraudulently makes a purchase with someone else's money. While there are a lot of people who would choose to have a no-fee transaction on both sides, and there are some people who would prefer things to be irreversible... Honestly, I've been burned enough times that the reality is the only way I'd ever use Bitcoins for a majority of my larger purchases is if I have a way of recovering my funds when a merchant rips me off. At the moment I often jump through a shitload of hoops to transfer everything I have into a specific bank account I have, just so that I have that bank's Visa fraud department to call if I have a problem with the purchase.

And that would simply be another case of free market offering multiple approaches, and individual consumers (in this case, both end-purchasers and merchants) can choose what they want.

+1.

paypal will never accept bitcoin

They'll accept it the picosecond they think that they'll make more money if they do than they will if they don't. They'll be supporters of Bitcoin instantly if they conclude there's more profit to be had by supporting it than attempting to interfere with it. Whether they'll ever actually conclude that is the variable, but they're a corporation, they'll always do what they think will put the most money in their executives' pockets.

+1.  Smiley  You hit the nail on the head, my friend!

Sure, paypal is the big kid on the block right now, but who's to say they won't start accepting bitcoin as one of many international currencies?

Simple, their TOS forbids currency changing so you cant buy BTC using paypal on exchanges.

Actually I wasn't referring to having PayPal allow users to exchange bitcoin for other currencies, but rather have PayPal accept bitcoin as one of their many payment options.

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
kjj
Legendary
*
Offline Offline

Activity: 1302



View Profile
July 01, 2011, 07:45:07 PM
 #10

paypal will never accept bitcoin

They'll accept it the picosecond they think that they'll make more money if they do than they will if they don't. They'll be supporters of Bitcoin instantly if they conclude there's more profit to be had by supporting it than attempting to interfere with it. Whether they'll ever actually conclude that is the variable, but they're a corporation, they'll always do what they think will put the most money in their executives' pockets.

Exactly.  The exact same reasoning applies to Visa, MasterCard, Discover, and American Express too.

The questions are "Who will jump first?"  and "When?".  PayPal seems very slightly more likely than the credit card companies to jump in first.  But no idea when.  Could still be years away.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
I routinely ignore posters with paid advertising in their sigs.  You should too.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!