closed.

[rammy2k2]

Hey,

We created a petition with 300,000 subscriptions target.

We want PayPal to accept Bitcoin... It would be huge step.

Read the potition and give your subscription, thanks.

http://www.ipetitions.com/petition/paypal-on-bitcoin

i dont want PP to accept BTC ...

[sublime5447]

Not sure how paypal fits into the bitcoin picture. Essentially if they endorse bitcoin and bitcoin comes successful, paypal goes the way of the dodo.

Bitcoin price to send... 0.63 and much higher once all the blocks are found
PP price to send      ... 0.00

Paypal isnt going anywhere anytime soon.

[Moogle]

You could have 6 billion signatures. Paypal still wouldn't accept bitcoin. Whether people want it or not they aren't going to stop using it. For 99% of internet users PayPal works and it works very well.

[sublime5447]

You could have 6 billion signatures. Paypal still wouldn't accept bitcoin. Whether people want it or not they aren't going to stop using it. For 99% of internet users PayPal works and it works very well.

They have shown some serious interest in bitcoin recently. Stranger things have happened.

[JoelKatz]

You could have 6 billion signatures. Paypal still wouldn't accept bitcoin. Whether people want it or not they aren't going to stop using it. For 99% of internet users PayPal works and it works very well.

They have shown some serious interest in bitcoin recently. Stranger things have happened.

It's definitely not hopeless, though it's probably still at least a bit too early. The trick will be to come up with some kind of reasonable suggestion for how PayPal might interact with Bitcoins that actually furthers their strategic interests rather than threatening them.

For example, native Bitcoin payments don't offer any buyer protection. A key part of PayPal's business is offering buyer protection. And that's a reason many people prefer to use PayPal rather than Bitcoins to deal with an untrusted seller. PayPal could offer a buyer protection scheme if they just held the seller's Bitcoins for some amount of time.

[sublime5447]

You could have 6 billion signatures. Paypal still wouldn't accept bitcoin. Whether people want it or not they aren't going to stop using it. For 99% of internet users PayPal works and it works very well.

They have shown some serious interest in bitcoin recently. Stranger things have happened.

It's definitely not hopeless, though it's probably still at least a bit too early. The trick will be to come up with some kind of reasonable suggestion for how PayPal might interact with Bitcoins that actually furthers their strategic interests rather than threatening them.

For example, native Bitcoin payments don't offer any buyer protection. A key part of PayPal's business is offering buyer protection. And that's a reason many people prefer to use PayPal rather than Bitcoins to deal with an untrusted seller. PayPal could offer a buyer protection scheme if they just held the seller's Bitcoins for some amount of time.

They wouldnt have to hold shit. They have a direct link to your bank account! Worst case is they would have to insure transactions by repaying in dollars.

They have a bank account, my paypal account and a credit card account for me. If someone buys a car from me on ebay an I dont deliver they take everything a got in my pp then my bank them max out my credit, if that doesnt cover it they put my account in the negative. 

[JoelKatz]

They wouldnt have to hold shit. They have a direct link to your bank account! Worst case is they would have to insure transactions by repaying in dollars.

A direct link to your bank account doesn't help because ACH transfers are reversible.

They have a bank account, my paypal account and a credit card account for me. If someone buys a car from me on ebay an I dont deliver they take everything a got in my pp then my bank them max out my credit, if that doesnt cover it they put my account in the negative.

If you're a scammer using a throwaway account, putting the account in the negative doesn't do anything.

This business model will lead to a death spiral. Once scammers find the flaw in it, you get more and more scammers. This requires you to raise your prices to cover your costs of preventing fraud and covering fraud losses. The fraudsters don't care how high your prices are, they're not paying them anyway. So you wind up scaring off legitimate users and increasing your fraud percentage.

[sublime5447]

They wouldnt have to hold shit. They have a direct link to your bank account! Worst case is they would have to insure transactions by repaying in dollars.

A direct link to your bank account doesn't help because ACH transfers are reversible.
 

I have no idea what point you are trying to make here. I am guessing you are saying if paypal seizes the funds you can charge back? if that is the case it's not true

They have a bank account, my paypal account and a credit card account for me. If someone buys a car from me on ebay an I dont deliver they take everything a got in my pp then my bank them max out my credit, if that doesnt cover it they put my account in the negative.

If you're a scammer using a throwaway account, putting the account in the negative doesn't do anything.


There are already safe guards in place for that situation.

This business model will lead to a death spiral. Once scammers find the flaw in it, you get more and more scammers. This requires you to raise your prices to cover your costs of preventing fraud and covering fraud losses. The fraudsters don't care how high your prices are, they're not paying them anyway. So you wind up scaring off legitimate users and increasing your fraud percentage.


It is that business model now! and it works. I cant make a fake paypal and buy items! There would be any greater incentive to do this with bitcoin than say gold coins on ebay in fact there would be less incentive.

So scammers are gonna go out in mass and get fake bank accounts, fake power bills, fake addresses because now you could get bitcoins .. come on get real.

I can tell you dont use paypal.

[JoelKatz]

It is that business model now! and it works. I cant make a fake paypal and buy items! There would be any greater incentive to do this with bitcoin than say gold coins on ebay in fact there would be less incentive.

So scammers are gonna go out in mass and get fake bank accounts, fake power bills, fake addresses because now you could get bitcoins .. come on get real.

You live in a fantasy world where no solutions are needed because the real world problems businesses actually face miraculously don't exist.

[LostDutchman]

[/quote]

They wouldnt have to hold shit. They have a direct link to your bank account! Worst case is they would have to insure transactions by repaying in dollars.

They have a bank account, my paypal account and a credit card account for me. If someone buys a car from me on ebay an I dont deliver they take everything a got in my pp then my bank them max out my credit, if that doesnt cover it they put my account in the negative. 

[/quote]

Uh, you are mistaken.

A buyer can no longer  pay for a car through Paypal and in fact, ebaymotors is one of the few sections of ebay in which sellers may insist on cash in person, certified check, wire or other non-virtual methods of payment.

A deposit for the sale of a car, not to exceed USD $1K as I recall but I do not use Paypal in any way for vehicle sales.

I have sold over fifty (50) cars of various types on ebay and know what I am talking about.

My $.02.

[sublime5447]

It is that business model now! and it works. I cant make a fake paypal and buy items! There would be any greater incentive to do this with bitcoin than say gold coins on ebay in fact there would be less incentive.

So scammers are gonna go out in mass and get fake bank accounts, fake power bills, fake addresses because now you could get bitcoins .. come on get real.

You live in a fantasy world where no solutions are needed because the real world problems businesses actually face miraculously don't exist.

The problems you face have already been solved by Paypal. Your problems are not their problems they are the big boys for a reason

[sublime5447]

They wouldnt have to hold shit. They have a direct link to your bank account! Worst case is they would have to insure transactions by repaying in dollars.

They have a bank account, my paypal account and a credit card account for me. If someone buys a car from me on ebay an I dont deliver they take everything a got in my pp then my bank them max out my credit, if that doesnt cover it they put my account in the negative.  

[/quote]

Uh, you are mistaken.

A buyer can no longer  pay for a car through Paypal and in fact, ebaymotors is one of the few sections of ebay in which sellers may insist on cash in person, certified check, wire or other non-virtual methods of payment.

A deposit for the sale of a car, not to exceed USD $1K as I recall but I do not use Paypal in any way for vehicle sales.

I have sold over fifty (50) cars of various types on ebay and know what I am talking about.

My $.02.


[/quote]


I dont sell cars there but I am sure you are right but you are just proving my point paypal is in the business of stopping fraud.  They could put a 1k limit on btc purchases

[sublime5447]

@JoelKatz

Told you fool.

http://altcoinpress.com/2014/09/breaking-ebay-announces-paypal-bitcoin-integration/

[johny1976]

YEAAAAH. Bitcoin on the mooooon.

[Somekindabitcoin]

Took about a year to reach this point

[Jamie_Boulder]

....or we can just use bitcoins and forget paypal

[BitCoinNutJob]

....or we can just use bitcoins and forget paypal

We can but paypal are likely way more skilled at making bitcoin palatable to the mainstream.  We've had years and main streamers dont get it or use it.

[Kprawn]

Everyone have been bitchin about BTC not having consumer protection. {Let them, who needs protection, use PayPal} They use insurance to cover that anyway.

What BTC needs now, is the mass adoption from general consumers to push the demand for the coin. {That can happen, with PayPal accepting BTC}

Will PayPal hurt BTC? - For sure, like any other company, adding useless extra fees to the transaction, it would neurtalize the benefit of cheaper micro transactions.

Would PayPal benefit BTC? - Yes it would. {Simple exposure to the currency, from a already established consumer base.}

Would BTC transactions through PayPal be cheaper, than the tradisional payment methods? {I doubt it... PayPal would absorb any savings as profit} Consumers will only save, because they have less banking fees to deal with, up to the point, where they buy into PayPal.

Do we need PayPal {Centralized organization, eating the benefits of the currency}Yes until, we can offer reliable alternatives for the lack of consumer protection in BTC

So it has positive and negative sides.  

[sublime5447]

Its just a publicity stunt. Bitcoiners flooded in pissed off at paypal. Now welcoming them with open arms  .

Bitcoin was sold to the public as a way to get payment processors and their high fees out of our lives. Now that everyone realizes the cost of insuring their own transactions they are clamoring for financial institutions and governmental agencies to protect them from their own stupidity and inability to accurately assess risk. It is a "if you cant bet them join them" mentality, but to me it makes no difference there will never be wide spread adoption. Bitcoin itself solves no problems and adds extra layers of cost.       

[philiveyjr]

PP already started accepting BTC yeah?