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Super T (OP)
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September 30, 2013, 09:20:24 PM |
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This is a few days old and is by no means revelatory, but the following is a short excerpt from the transcript of a presentation (followed by Q&A) with Tom Hudson (eBay Inc. - VP Investor Relations) at the CLSA Investors Forum - 24th Sep 2013.
Question: Going back to the transaction medium, how do you see the rise of some virtual currencies like even bitcoin or QQ currencies, or something like that? How do you see the trend going forward for this kind of electronic currencies?
"Yes, the reality is something like bitcoin or what have you, to be determined what happens with something like that. It's clear that the monetary systems -- we can potentially enable that source of funding on PayPal. I mean the reality is PayPal is used to fund Facebook credits, as an example. So we can certainly participate in that as a funding mechanism. Where they grow? I don't know. I don't want to speculate.
The reality is what I know about the financial system is that regulation is only moving in one direction. And it appears the world is getting more complicated and regulatory burden is actually rising. I think that creates higher hurdles for new business models.
Is there opportunity for something like a virtual currency like a bitcoin? I'm not sure. I don't want to speculate."
Question: Do you see any opportunities for eBay to accept this kind of transaction medium?
"The reality is potentially; but obviously you need to then be able to convert that medium to cash.
Take something like a bitcoin, we have seen competitors on the payment side actually have challenges and assets seized as a result of that, because it's operating outside of the financial system. So as an entity that's cooperative with the regulatory in terms of the financial environments, the reality is we are going to operate within the parameters. And if something changes and it becomes more accepted by the powers that be, then expect eBay to potentially move."
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AU
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September 30, 2013, 09:39:48 PM |
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cashing out is the only thing stopping eBay from getting onboard.
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HostFat
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October 09, 2013, 01:07:01 PM |
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BitAddict
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October 09, 2013, 02:02:33 PM |
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That means they will allow to sell bitcoins via ebay+paypal?  I don't think so. |
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allthingsluxury
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October 09, 2013, 04:09:09 PM |
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I don't see eBay adopting bitcoin any time soon. It is a huge direct competition to paypal. Which they of course own. |
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adamstgBit
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October 09, 2013, 04:14:02 PM |
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That means they will allow to sell bitcoins via ebay+paypal? I don't think so. you can, but you must be registered as an authorized bitcoin reseller with paypal. no joke. |
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BitAddict
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October 09, 2013, 06:58:14 PM |
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That means they will allow to sell bitcoins via ebay+paypal? I don't think so. you can, but you must be registered as an authorized bitcoin reseller with paypal. no joke. wtf? Any place where you can read that info? How do you opt for being official reseller? |
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plaxant
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October 09, 2013, 07:01:40 PM |
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cashing out is the only thing stopping eBay from getting onboard.
No owning paypal is what's stopping ebay from getting on board. Notice you can't pay with any competing online payment systems with ebay? |
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ralree
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October 09, 2013, 07:16:33 PM |
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cashing out is the only thing stopping eBay from getting onboard.
No owning paypal is what's stopping ebay from getting on board. Notice you can't pay with any competing online payment systems with ebay? Actually, you can use Skrill and Propay: http://pages.ebay.com/help/pay/methods.html |
1MANaTeEZoH4YkgMYz61E5y4s9BYhAuUjG
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mises
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October 10, 2013, 07:26:26 PM |
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I don't see eBay adopting bitcoin any time soon. It is a huge direct competition to paypal. Which they of course own. Thank god Amazon is competing with Paypal now. Paypal is a nightmare for a lot of people. |
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briehost
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October 10, 2013, 07:34:55 PM |
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Wow, GPUminer software a steal at only $199! |
To brie or not to brie...
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Super T (OP)
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October 10, 2013, 09:43:33 PM
Last edit: October 10, 2013, 10:53:27 PM by Super T |
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My take on this was:
1. "We have been looking at whether we could engage the Bitcoin enabled consumer base by enabling Bitcoin as a source of funding within the existing PayPal payment model (i.e. Bitcoin>PayPal>eBay) and thereby retain our existing payment commission model."
Probably some mileage in this as long as eBay can maintain competitive advantage as a premium marketplace provider.
2. "We also realise that long term this might be game over for PayPal and our associated revenue stream, and we are reluctantly looking at the possibility of a future landscape with direct Bitcoin>eBay integration. However we anticipate that the legal and regulatory hurdles associated with enterprise scale adoption of Bitcoin would mean this is not likely to become a realistic threat or opportunity for at least a few years"
Again, probably about all someone in his position could say.
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tclo
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October 10, 2013, 09:48:17 PM |
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I don't see eBay adopting bitcoin any time soon. It is a huge direct competition to paypal. Which they of course own. Exactly. |
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Baitty
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October 10, 2013, 10:48:32 PM |
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I would be surprised it eBay ever accepts bitcoin
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HostFat
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October 10, 2013, 10:54:40 PM |
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So what is the reason for "Virtual Currency" sub-section?
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TheButterZone
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October 10, 2013, 11:09:56 PM |
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So what is the reason for "Virtual Currency" sub-section?
eBay needs to take away electronic payments as a requirement for that subsec, like they do with Everything Else>Adult Only. Electronic payment processors invariably ban bitcoin and the like. |
Saying that you don't trust someone because of their behavior is completely valid.
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HostFat
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October 10, 2013, 11:12:32 PM |
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eBay needs to take away electronic payments as a requirement for that subsec, like they do with Everything Else>Adult Only. Electronic payment processors invariably ban bitcoin and the like.
This explains something different  http://deals.ebay.com/blog/whats-the-deal-with-bitcoins-anyway/ |
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TheButterZone
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October 10, 2013, 11:20:30 PM |
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Kind of a right hand doesn't know what the left hand is doing situation if eBay is trapping virtual currency sellers into violating PayPal's TOS.
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Saying that you don't trust someone because of their behavior is completely valid.
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briehost
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October 11, 2013, 02:51:13 PM |
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Kind of a right hand doesn't know what the left hand is doing situation if eBay is trapping virtual currency sellers into violating PayPal's TOS.
Or perhaps its one of those "whoops, we were supposed to announce that paypal is now cool with bitcoin first" situations |
To brie or not to brie...
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malevolent
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October 11, 2013, 08:57:55 PM
Last edit: October 11, 2013, 09:54:04 PM by malevolent |
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It would make sense if they acted as an escrow and people deposited both fiat and virtual currencies. This way the sellers could avoid getting screwed. (they would still need to change some of their policies in regards to the buyers being able to claim they "got hacked")
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Signature space available for rent.
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