Paypal says (David Marcus): Bitcoin is good

[bitcoinpsftp]

I didn't see this coming.  I'm surprised that speculators are not going crazy and raising the price of bitcoins to 1.2k in these last few minutes!

[jones31]

I didn't see this coming.  I'm surprised that speculators are not going crazy and raising the price of bitcoins to 1.2k in these last few minutes!

Even the china hype took a few days to get full steam ahead.
Wait for it , wait for it!

The problem is that this news about paypal aren't all good , he didn't praise all aspects of bitcoins in the interview.
Also he did mentioned bitcoin is not going to paypal too soon, so no need for a bull rush.

[oxxymoronn]

Paypal is one of those companies that will cough up your information to the IRS in a heartbeat. I for one will never mix anonymous cryptos with paypals platform if possible. However the masses will if it ever becomes available which ultimately will be good for crypto holders, especially the anonymous ones.

[SgtSpike]

I didn't see this coming.  I'm surprised that speculators are not going crazy and raising the price of bitcoins to 1.2k in these last few minutes!

David Marcus has been a proponent of Bitcoin for a long time.  I believe this is the first time he had admitted to owning some, but it's not surprising news to anyone who has been paying attention for the past year. 

[BitChick]

So if David Marcus likes Bitcoin and thinks that they are "good" and owns some, wouldn't it be really smart for him to decide to integrate use with Paypal as soon as possible?  He could then cause the price to rise and increase his own Bitcoin value in the process.  I would think that being the first to do so would be a strategic move as well.  I guess he is just trying to move ahead cautiously.

[jones31]

So if David Marcus likes Bitcoin and thinks that they are "good" and owns some, wouldn't it be really smart for him to decide to integrate use with Paypal as soon as possible?  He could then cause the price to rise and increase his own Bitcoin value in the process.  I would think that being the first to do so would be a strategic move as well.  I guess he is just trying to move ahead cautiously.

I think that you missed this on his post about what he thinks bitcoins are:

"People are confused. They think because it's called cryptocurrency it's a currency. I don't think it is a currency. It's a store of value, a distributed ledger. It's a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government's currency does not hold value. It's also a good investment vehicle if you have an appetite for risk. But it won't be a currency until volatility slows down. Whenever the regulatory framework is clearer, and the volatility comes down, then we'll consider it. "

A mercedes is a good car , but you won't be able to plow with it , right?
That doesn't make the mercedes less attractive , not the tractor a cool town vehicle.

[apetersson]

David Marcus, pumping Bitcoin. Incredible.

I give Paypal 1 year max until they roll out something Bitcoin related. if not, they will be toast.

[jones31]

David Marcus, pumping Bitcoin. Incredible.

I give Paypal 1 year max until they roll out something Bitcoin related. if not, they will be toast.

Same how WU was supposed to get toasted?
Same how ebay was supposed to get toasted?
1 year is nothing , you'll net far more for this to happen.

And yes , there were people on this forum claiming we aren't going to see WU in 2014 and you should know this better.

[apetersson]

the way i wrote it was slightly misleading.

i think they will be intrinsically motivated to roll out Bitcoin support in 1 Year.
If they are not motivated at all, they will be toast. they sure have some reserves to last for some time, longer than 1 year, even if they are declining.

[FlappySocks]

I'm dubious about PayPal.

Dont forget the games Microsoft used to pull when their backs were against the wall: http://en.wikipedia.org/wiki/Embrace,_extend_and_extinguish

Not saying that will happen here, but Paypal know they are in the crosshairs, and they know, we know that. So the next line of defence is to be seen to be in favour, but in fact have an alterer motive.

[bitcoinpsftp]

the way i wrote it was slightly misleading.

i think they will be intrinsically motivated to roll out Bitcoin support in 1 Year.
If they are not motivated at all, they will be toast. they sure have some reserves to last for some time, longer than 1 year, even if they are declining.

I don't know.  I think it really depends on how widely used bitcoins are.  But bitcoin support would be something very easy to program.  If bitcoin got really b ig, really fast, they could integrate it very fast.

[minimalB]

They could just create an option to credit $$$ to their platform to avoid volatility problem. In this case a lot of countries that are left out right now could use PP as a payment option (in case users wish so). This could serve as some kind of bridge to reach merchants that do not accept Bitcoin directly.

After all, it would be voluntary and, in some cases, useful.

[Vexatious]

This is good news.

[vesperwillow]

I'm dubious about PayPal.

Dont forget the games Microsoft used to pull when their backs were against the wall: http://en.wikipedia.org/wiki/Embrace,_extend_and_extinguish

Not saying that will happen here, but Paypal know they are in the crosshairs, and they know, we know that. So the next line of defence is to be seen to be in favour, but in fact have an alterer motive.

^-- This, right here. I've been saying for a long time now, we can certainly expect a large internet conglomerate such as Amazon, and/or a large payment processor such as Paypal, to basically unroll their own methods of madness.

They have the capital for it (especially AMZN), and could you imagine if they partnered with a chip designer for their own mining equipment? They could also offer you to buy or lease it, with the reward being given in their "coin". Think about the 3 large barges moored off American waters, with literally tons of computing power. Could be mining equipment for all we know, water-cooled!

Hoardes of people would flock to mine Amazon coin if they knew they were getting gift card/amazon-coins in return. No need to use an exchange at that point, they could buy groceries, food, gadgets, etc..

[BitChick]

I'm dubious about PayPal.

Dont forget the games Microsoft used to pull when their backs were against the wall: http://en.wikipedia.org/wiki/Embrace,_extend_and_extinguish

Not saying that will happen here, but Paypal know they are in the crosshairs, and they know, we know that. So the next line of defence is to be seen to be in favour, but in fact have an alterer motive.

^-- This, right here. I've been saying for a long time now, we can certainly expect a large internet conglomerate such as Amazon, and/or a large payment processor such as Paypal, to basically unroll their own methods of madness.

They have the capital for it (especially AMZN), and could you imagine if they partnered with a chip designer for their own mining equipment? They could also offer you to buy or lease it, with the reward being given in their "coin". Think about the 3 large barges moored off American waters, with literally tons of computing power. Could be mining equipment for all we know, water-cooled!

Hoardes of people would flock to mine Amazon coin if they knew they were getting gift card/amazon-coins in return. No need to use an exchange at that point, they could buy groceries, food, gadgets, etc..

Is Amazon operating on a fully international level though?  That is a huge drawback for them to do this.  It might work on a small level in the US but I don't see how much good it would do the people in China for instance.

[vesperwillow]

Is Amazon operating on a fully international level though?  That is a huge drawback for them to do this.  It might work on a small level in the US but I don't see how much good it would do the people in China for instance.

Uh, yeah they're global serving a majority of major populaces.

This would be a boone to them, not a drawback. They currently sell Amazon Coin for digital purposes, but it's more like a gift card right now.

Imagine if it were more like a cryptocoin.