EBay considering accepting bitcoin as payment

[baltimoreppc]

c n b c . com/id/101356642

Next month, eBay US and eBay UK will allow its customers to buy and sell bitcoins for the first time.

interesting

[mtnminer]

Overstock, TigerDirect, then maybe Ebay.  The momentum continues to grow!

Mtnminer 

[frank754]

That will sure kick PayPal in the butt to some degree.

[jcoin200]

I think the problem eBay will need to overcome is with returns...If the bitcoins get released immediately to the seller (as payments do now) and there is a problem, then PayPal can't just take the funds back.  I guess they could turn into an escrow service for bitcoin sales.  The thing is, eBay doesnt even need to directly take BTC, they just need to allow users to accept BTC as payment.

[Musent]

LOL, would be funny if eBay does accept this. They suspended my account for selling crypto. Hypocritical much?

[Musent]

I think the problem eBay will need to overcome is with returns...If the bitcoins get released immediately to the seller (as payments do now) and there is a problem, then PayPal can't just take the funds back.  I guess they could turn into an escrow service for bitcoin sales.  The thing is, eBay doesnt even need to directly take BTC, they just need to allow users to accept BTC as payment.

The problem can be resolved by holding funds for 21 days, like some higher payments in PayPal do now.

[jcoin200]

eBay allows buyers 45 days to file a dispute.  I don't see sellers being a fan of waiting that long for funds.  I wouldnt be.  I had to wait 21 days for funds once (completely out of the blue for a $175 sale) and it was really frustrating

[Bobsurplus]

The new just keeps on coming.

[FlappySocks]

That will sure kick PayPal in the butt to some degree.

ebay is paypal.

I'm not convinced myself.  What have ebay/paypal to gain?  They have a virtual monopoly in the online auction space.

[Bobsurplus]

That will sure kick PayPal in the butt to some degree.

ebay is paypal.

I'm not convinced myself.  What have ebay/paypal to gain?  They have a virtual monopoly in the online auction space.

They will for sure think of a way to make money off it. I can tell you this though, it would open the door to an enormous amount of new ebay users from all around the world.

[ArticMine]

I think the problem eBay will need to overcome is with returns...If the bitcoins get released immediately to the seller (as payments do now) and there is a problem, then PayPal can't just take the funds back.  I guess they could turn into an escrow service for bitcoin sales.  The thing is, eBay doesnt even need to directly take BTC, they just need to allow users to accept BTC as payment.

The problem can be resolved by holding funds for 21 days, like some higher payments in PayPal do now.

The question becomes: Who takes on the currency risk? Buyer or seller?

[JulianL]

I think the problem eBay will need to overcome is with returns...If the bitcoins get released immediately to the seller (as payments do now) and there is a problem, then PayPal can't just take the funds back.  I guess they could turn into an escrow service for bitcoin sales.  The thing is, eBay doesnt even need to directly take BTC, they just need to allow users to accept BTC as payment.

The problem can be resolved by holding funds for 21 days, like some higher payments in PayPal do now.

The question becomes: Who takes on the currency risk? Buyer or seller?

Ebay 
no seriously I think that is the big problem. the risk is just too high.

[dissident]

interesting because they originally stopped officially accepting checks and cash so they could 'cash in' on their ownership of paypal and the fees. Now they are swinging the other direction? I'd imagine they will still offer buyer protection somehow and it's going to lead to problems not being able to reverse transactions and they'll either bill the seller's account directly or bitcoin won't last long as payment. Should be interesting. Ebay has had a history of siding with sellers for years which is why I don't use them. Too many scammers that claim they 'didn't receive' what they ordered.

After reading the article it looks like you still have to 'use' paypal and get charged the paypal fees so I guess it doesn't matter that they add bitcoin as an 'option' they still get their cut.

[pungopete468]

http://elidourado.com/blog/bitcoin-arbitration/

This should solve the issue of a return policy...

[Serge]

i'm afraid sending btc to seller or merchant won't be available right way if they go with it. most probable scenario here is they will take btc as alternative method of payment and convert it right away to usd.

[jongameson]

what if you wanted to RECEIVE bitcoin as payment.  could they convert USD to bitcoin as well

would probably put Mt. Gox out of business

[jerelimZ]

what if you wanted to RECEIVE bitcoin as payment.  could they convert USD to bitcoin as well

would probably put Mt. Gox out of business

Well they would need licence for running exchange I guess

[BitcoinBarrel]

Sooner or later they're going to have to accept it. Too many people are jumping on board at this point.

[Ty13rDerden]

It seems like the other alt coins are eating up some of the growth from Bitcoin. I'm not sure why all this press isn't a catalyst for a price increase.