ebay ceo slips up and spills the beans

[kodtycoon]

ebay CEO spills the beans *by mistake* thak paypal will soon have a digital wallet that can hold multiple currencies!

THIS IS HUGE!!!!!!

http://www.bloomberg.com/video/ebay-paypal-most-successful-together-donahoe-says-M8oKQ3F5Q3SBdIrbWSnzcw.html

starts talking about bitcoin just after 3 mins..

[indiekiduk]

Paypal is already a digital wallet, and it holds multiple currencies already. I think you misunderstood. If he had said they are adding crypto currencies then we might have had something.

[thest0ckman]

  i think he is saying ppal is building a digital wallet to hold digital currencies.

[kireinaha]

i think he's saying it's something they could add support for, if cryptocurrencies grow and become a threat to their bottom line. i don't see this as an admission that paypal is actively working on bitcoin integration. at least not yet.

[profall]

I feel like PayPal is losing money by NOT adopting bitcoin sales. Once they recognize that the block chain is indeed proof of a transfer, and buyers cannot retract payments just because they feel like it and get away with it. Your talking 10's of millions in sales overnight if they adopted it.

[BittBurger]

Can someone explain to me exactly how PayPal is going to "adopt" bitcoin?

Paypal is a Visa/Mastercard etc payment processor.

They would what .... add Bitcoin then add their ridiculous fees on top of each Bitcoin transaction?

Nobody is going to use PayPal to pay Visa/Mastercard rates on a Bitcoin purchase.

I never understood why people keep insinuating that Bitcoin is anything other than a major threat to PayPal.

My understanding is they are direct competitors.

-B-

[nolezilla]

they have been working on something called "gift tokens" since 2012 and filed for a patent in Dec of last year.  It is already in the works US patent application 20130339188

http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20130339188.PGNR.&OS=DN/20130339188&RS=DN/20130339188

[Sammycat]

Yeah I really don't see anything revealed here that isn't already public knowledge. Def Not saying they will start accepting bitcoin or any other crypto for that matter in the very near future.

[Tirapon]

Can someone explain to me exactly how PayPal is going to "adopt" bitcoin?

The best suggestion I can think of would be that they act as an escrow service, and provide dispute mediation.

[keithers]

Paypal is already a digital wallet, and it holds multiple currencies already. I think you misunderstood. If he had said they are adding crypto currencies then we might have had something.

The above is correct, and they are also rumored to be creating their own currency to specifically used on their sites.

[seriouscoin]

Can someone explain to me exactly how PayPal is going to "adopt" bitcoin?

Paypal is a Visa/Mastercard etc payment processor.

They would what .... add Bitcoin then add their ridiculous fees on top of each Bitcoin transaction?

Nobody is going to use PayPal to pay Visa/Mastercard rates on a Bitcoin purchase.

I never understood why people keep insinuating that Bitcoin is anything other than a major threat to PayPal.

My understanding is they are direct competitors.

-B-

LOL.... how does bitpay work again?

[BittBurger]

Can someone explain to me exactly how PayPal is going to "adopt" bitcoin?

Paypal is a Visa/Mastercard etc payment processor.

They would what .... add Bitcoin then add their ridiculous fees on top of each Bitcoin transaction?

Nobody is going to use PayPal to pay Visa/Mastercard rates on a Bitcoin purchase.

I never understood why people keep insinuating that Bitcoin is anything other than a major threat to PayPal.

My understanding is they are direct competitors.

-B-

LOL.... how does bitpay work again?

Hmm ...
Well BitPay doesn't charge 3% or more, plus $0.15 per transaction.   PayPal does.  That was my point. 
Secondly, Bitcoin is its own payment system.  It doesn't need PayPal or Bitpay for person to person payments.
They're instant, and free.
So that leaves B2C merchant services only.
I suppose PayPal could completely scrap all its insane fees, account freezing, crazy demands for personally identifiable information, and start doing what BitPay does...
But I suppose that may be a cold day in hell before that would happen.
I guess I just feel that the two industries don't match.  Therefore they are competing.
Maybe I'm completely wrong.  I just don't see Bitcoins business model being remotely acceptable to PayPal.

-B- 

[g35fan]

Can someone explain to me exactly how PayPal is going to "adopt" bitcoin?

The best suggestion I can think of would be that they act as an escrow service, and provide dispute mediation.

I'm not a fan of Paypal personally but I wouldn't mind paying a small fee for that dispute mediation availability on a irreversible transaction - especially when buying a used item from a private seller on Ebay.

[Tirapon]

Can someone explain to me exactly how PayPal is going to "adopt" bitcoin?

The best suggestion I can think of would be that they act as an escrow service, and provide dispute mediation.

I'm not a fan of Paypal personally but I wouldn't mind paying a small fee for that dispute mediation availability on a irreversible transaction - especially when buying a used item from a private seller on Ebay.

To be honest I would love to see both eBay and Paypal completely destroyed by Bitcoin and decentralised marketplaces + escrow built into the protocol. But if I were trying to figure out how to incorporate Bitcoin into the Paypal business model, that's how I would do it.

[thest0ckman]

bottom line ppal sucks. they will die eventually

[jcoin200]

He did say they are looking at creating a digital wallet for digital currencies.  The CEO of PayPal has also talked about bitcoin in a positive light in multiple interviews.  I think once they create a wallet that people can seamlessly transition to within their existing PayPal account, BTC will gain MASSIVE acceptance.  Just think if all the places PayPal can be used could now accept Bitcoin without having to do anything extra?  If PayPal does go forward with this and does it right (very secure, easy for people to use BTC) then it will be HUGE for BTC.

[hilariousandco]

bottom line ppal sucks. they will die eventually

Everything dies eventually, but I don't think PP is going anywhere for a long long time.

[bitpop]

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[guybrushthreepwood]

ebay CEO spills the beans *by mistake* thak paypal will soon have a digital wallet that can hold multiple currencies!

THIS IS HUGE!!!!!!

http://www.bloomberg.com/video/ebay-paypal-most-successful-together-donahoe-says-M8oKQ3F5Q3SBdIrbWSnzcw.html

starts talking about bitcoin just after 3 mins..

I watched the video and he didn't say anything of the sort.

[bitpop]

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