Pool: If PayPal adopts Bitcoin, what would the price be?

[bcdev]

Let's assume [for a moment] that PayPal adopts Bitcoin this month.
You can deposit, withdraw, convert and pay with Bitcoins.

How much one Bitcoin should be worth at the end of this year?

[lucif]

Lets imagine all muslims instantly turned into christians, yeah.

[infested999]

http://en.wikipedia.org/wiki/PayPal#Services

the total value of transactions in Q1 2009 was nearly $16 billion

Total Bitcoins right now: http://blockexplorer.com/q/totalbc

Code:

11501550.00000000

Current BTC-e BTC price: http://bitcoinity.org/markets/btce/USD

Code:

$94.35

Current BTC Market Cap: 11501550 * 94.35

Code:

$1085171242.5

Now we find the new market cap after PayPal.

Add BTC Market Cap + PayPal transactions: $1085171242.5 + $16Billion

Code:

17085171242.5

Divide by amount of Bitcoins to find BTC value: 17085171242.5 / 11501550

Code:

$1485.46684946811516708618

There is your (theoretical) answer: $1485.47

Which obviously says nothing.


I can't believe I did that much work to answer this idiot.

[vokain]

Infested, your theoretical answer (incorrectly) assumes that Paypal will no longer conduct their normal transactions and that Bitcoin transactions will entirely absorb all their other transactions, among other things.

[infested999]

Infested, your theoretical answer (incorrectly) assumes that Paypal will no longer conduct their normal transactions and that Bitcoin transactions will entirely absorb all their other transactions, among other things.

I know, it's a very big generalization.

But if PayPal does have full BTC integration, there will be very little reason to use USD for transactions.

[vokain]

Infested, your theoretical answer (incorrectly) assumes that Paypal will no longer conduct their normal transactions and that Bitcoin transactions will entirely absorb all their other transactions, among other things.

I know, it's a very big generalization.

But if PayPal does have full BTC integration, there will be very little reason to use USD for transactions.

there will, to conduct business with all the merchants that have yet to accept bitcoin.

[gog1]

I guess one can buy Bitcoin with CC / Bank account with ease if PP adopts Bitcoin.

[jamesc760]

I hope that Paypal stays away from bitcoin as long as possible. Paypal is evil. They are the mark of the beast, ie 666. Whosoever engages in business with paypal are doomed to forever burn in hell. If paypal ever accepts bitcoin, we will be in for a shock, as if touched by evil spirit, all the puss will ooze from the skins of everyone on this forum, locusts will swarm over your homes, leprosy will infect you and your family, blindness will strike everyone you meet, death will reign over you and your loved ones, etc...

[randrace]

Lets imagine all muslims instantly turned into christians, yeah.

Hahaha! This. I can't wrap my head around how PayPal could integrate Bitcoin. I could see them employing a team of DARPA-types to dream up a PayPal controlled cryptocurrency.

[vokain]

Lets imagine all muslims instantly turned into christians, yeah.

Hahaha! This. I can't wrap my head around how PayPal could integrate Bitcoin. I could see them employing a team of DARPA-types to dream up a PayPal controlled cryptocurrency.

Getting max ROI on their investment of licensing as a MSB in most of the world..

[RapidCoinz]

I hope that Paypal stays away from bitcoin as long as possible. Paypal is evil. They are the mark of the beast, ie 666. Whosoever engages in business with paypal are doomed to forever burn in hell. If paypal ever accepts bitcoin, we will be in for a shock, as if touched by evil spirit, all the puss will ooze from the skins of everyone on this forum, locusts will swarm over your homes, leprosy will infect you and your family, blindness will strike everyone you meet, death will reign over you and your loved ones, etc...

Classic!!! 

That was poetic genius!  I concur, Paypal suck! And are evil and get eat it!

[Chalkbot]

I think there would be a noticeable price increase, although probably not sustainable beyond 2x the current price for this news (in the immediate future). Paypal offering the service doesn't mean people are going to all suddenly start using it, it just makes it far more available and user friendly, likely kicking off a healthy and long term growth trend, while relieving some of the fears surrounding bitcoin.

I also don't think Paypal is evil. Maybe some of you are not old enough to remember the days before convenient online payments, but Paypal was our liberator. A massive amount of time and money has been invested in building such a far reaching infrastructure while complying with all those MSB regulations. Their vision was similar to that of bitcoin today. The service has many flaws, which I'm sure I don't have to tell anyone on this forum; but you should consider that most of these are a result of compliance with regulations, and mitigating losses from unscrupulous users who aim to abuse the service. It's easy to do because our money system sucks. So while your complaints are valid, and you're in the right place (on these forums) you shouldn't overlook that fact that they have done tremendous work in this vein, and the fact that they have not dismissed bitcoin, but rather endorsed it as something that is here to stay. This indicates to me that they still hold the same ideals, and while they are still bound by the chains of regulation, we should not consider them to be the enemy until they declare themselves to be the enemy. They are in a unique situation to bring tremendous utility and acceptance to bitcoin that no startup could possibly achieve in the near term. We should applaud any effort they make to incorporate bitcoin into their services, and not just Paypal, but ANY organization. Being affiliated with bitcoin should be seen as a positive thing, otherwise there is no incentive to ever consider doing it. I guess that's fine if all you ever wanted bitcoin to be is the currency you use to buy drugs online, but some of us want much more than that.

I have personally written a proposal to Paypal for the incorporation bitcoin, and I sincerely hope they take something away from it. I believe it's mutually beneficial, and opens up all kinds of new possibilities for bitcoin and bitcoin services.

[Mike Christ]

I hope that Paypal stays away from bitcoin as long as possible. Paypal is evil. They are the mark of the beast, ie 666. Whosoever engages in business with paypal are doomed to forever burn in hell. If paypal ever accepts bitcoin, we will be in for a shock, as if touched by evil spirit, all the puss will ooze from the skins of everyone on this forum, locusts will swarm over your homes, leprosy will infect you and your family, blindness will strike everyone you meet, death will reign over you and your loved ones, etc...

Amen!

[Hunyadi]

Ok, Paypal will adopt Bitcon. Now what?

[falllling]

Ok, Paypal will adopt Bitcon. Now what?

now this:

PayPal Braintree doesn't integrate bitcoin but use coinbase to sell bitcoins
the more businesses "accept" bitcoin (immediately dump it on exchanges via market sells), the more it will crash.

[Wilhelm]

Ok, Paypal will adopt Bitcon. Now what?

now this:

PayPal Braintree doesn't integrate bitcoin but use coinbase to sell bitcoins
the more businesses "accept" bitcoin (immediately dump it on exchanges via market sells), the more it will crash.

And the more people will have to buy to be able to spend them...

[falllling]

Ok, Paypal will adopt Bitcon. Now what?

now this:

PayPal Braintree doesn't integrate bitcoin but use coinbase to sell bitcoins
the more businesses "accept" bitcoin (immediately dump it on exchanges via market sells), the more it will crash.

And the more people will have to buy to be able to spend them...

no one or may be very very tiny amount of people buy bitcoin to spend, i don't even have to explain this anymore

that's why bitcoin dropped to $46x from $620 or $680 or whatever

[heypson]

Let's assume [for a moment] that PayPal adopts Bitcoin this month.
You can deposit, withdraw, convert and pay with Bitcoins.

How much one Bitcoin should be worth at the end of this year?

The answer is: No movement in price.

Bitcoin will stay at this value for several months.

[Hunyadi]

Ok, Paypal will adopt Bitcon. Now what?

now this:

PayPal Braintree doesn't integrate bitcoin but use coinbase to sell bitcoins
the more businesses "accept" bitcoin (immediately dump it on exchanges via market sells), the more it will crash.

And the more people will have to buy to be able to spend them...

no one or may be very very tiny amount of people buy bitcoin to spend, i don't even have to explain this anymore

that's why bitcoin dropped to $46x from $620 or $680 or whatever

So, Paypal is integrating bitcoin because of the early adopters money? After they have spend their bitcoins it is over 

They should have asked you before doing so stupid integration 

[minerpumpkin]

Depends on how many people are going to accept it through PayPal. If you can pay everything with BTC, we may just have seen the single biggest adoption of Bitcoin, there is. PayPal is pretty big and this would bring us literally tens of thousands of merchants adopting it!