xPost from Reddit: Paypal to accept Bitcoin this month?

[dhenson]

http://www.reddit.com/r/Bitcoin/comments/1jn974/imminent_paypal_to_accept_bitcoin_official/

Unconfirmed but worth following.

edit... the original post was removed from reddit.  Never resolved, guess we'll just have to wait and see.

[solex]

I am encouraged. The insider's comments seem to have substance. The description of a long-running internal struggle within the PP management as to how to address the threat Bitcoin poses to their business is exactly what would be expected. They are aware that a lot of companies have been blown away by technology change. Look at Kodak being too late in adopting digital camera tech. It makes sense for them to try and offer a Bitcoin service even though it is not a perfect fit and overlaps part of PP's core function.

Edit: as mentioned above the reddit OP has been deleted there, so FWIW this is the text:

"I could get fired for this. I've taken the requisite steps to protect my identity. I am an insider that IS in the know. PayPal has been working on this for months.. and the bombshell news is going to be coming before the end of this month. Leaks/rumors will undoubtedly dribble prior.

I know for a FACT, that PayPal is going to be adding "bitcoin" to it's range of services. And the announcement/press release is to come sometime this month. Everyone at the offices of PayPal and all connected working on the project have been under strict orders to not speak about this publicly.. therefore I am taking the chance. I've worked for PP for close to 4 years now. This is NOT just 'water-cooler gossip'.

This is real, this is going to happen.

submitted by TheInsiderMan "

It will be obvious soon whether this was troll nonsense, or... not..

[Remember remember the 5th of November]

PayPal may regret this decision. I don't think they will be used to having to check for double spends and whatnot or even hard-forks or their client losing connection to the network.

[vokain]

PayPal may regret this decision. I don't think they will be used to having to check for double spends and whatnot or even hard-forks or their client losing connection to the network.

[franky1]

why even post something like this.

unless you have evidence from the horses mouth so to speak, leave all speculation where it lies.

[No_2]

why even post something like this.

unless you have evidence from the horses mouth so to speak, leave all speculation where it lies.

+1

[LightRider]

And the IRS will accept bitcoin to settle tax bills.

[battani]

It's highly unlikely that Paypal introduce bitcoin into its system. Bitcoin is way too volatile and unstable, and its market cap is relatively small ($1B) in comparison to the markets Paypal is in. It's just too much risk and too little reward for the company.

[btbrae]

Paypal won't add Bitcoin until Bitcoin has so much momentum of it's own that any given to it is negligible. It would be like Microsoft voluntarily installing Linux alongside it's own OS on every PC back in 1995, "just incase Linux left them in the dust".

[MiningBuddy]

This is never going to happen 

[lunarboy]

Post has now been removed.

Troll with wings ! 

[TippingPoint]

It did not have the air of authenticity.

[Keldel]

Cannot be proved, most likely a hoax.

It would be extremely unlikely for PayPal to adopt bitcoin. They'd be shooting themselves in the foot.

[gog1]

Our dream of world domination is on hold for now

[TippingPoint]

Our dream of world domination is on hold for now

Well stated.

[elor70]

they are too capitalist to do this...

[Razick]

why even post something like this.

unless you have evidence from the horses mouth so to speak, leave all speculation where it lies.

+1 I don't see why there is any reason to beleive this isn't just a Bitcoin investor wanting to see his holdings rise in value. I think from PaypPal's perspective they have little use for Bitcoin, for example if they were to realese a web wallet of some sort, the only benefit to them would be charging fees, in which case why would we use them? If they were to release a BitPay-like service, how many of us would actually switch? The only way I can see PayPal profiting much in the near term is buying Bitcoins and then opening an exchange service.

[Elwar]

they are too capitalist to do this...

I agree. Capitalists hate capital.

[vokain]

For points that would support the theory:

re. paypal rumor:

a) You have to trust someone that breaks trust of company he works for and likely confidentiality obligations. And for what?

b) How is a company like PayPal going to "accept" business in bitcoin currently? Paypal has to consider the legal ramifications of doing this in every country in the world where it operates, and where the legality of bitcoin is not yet certain.

c) It would be much safer for PayPal to invest money in a company like BitPay to hedge its bets going forward but to separate its current business from a speculative investment in a 'currency' of questionable legality.

d) Do people really believe random rumors posted on internet message boards? Use your head!

http://techcrunch.com/2013/05/16/an-offer-you-cant-refuse-bitcoin-startup-bitpay-raises-2m-led-by-founders-fund-the-vc-run-by-the-paypal-mafia/

:p

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..

Seriously, sounds like a no-brainer to me.

Seems pretty easy to implement honestly

[Razick]

they are too capitalist to do this...

Huh? Bitcoin is a capitalist concept.