PayPal could benefit greatly from providing a wallet service

[MahaRamana]

With no chargback option Bitcoin will never, ever, not now, not ever be adopted by Paypal.

End of story.

Move along.

Nothing further to see here.

The way I see it, they would force chargebacks in fiat.

I buy something from you for 0.5 BTC (value of BTC is $500). You don't ship. The chargeback would be done to your bank account for $250, the value of the Bitcoin at the time of purchase.

I'm almost positive they are planning to use BTC as an intermediary (like Bitpay). ie. when I send the 0.5 BTC for my purchase, they convert it to fiat and pass it off (and at the same time cash in that Bitcoin).

"The way I see it, they would force chargebacks in fiat."

Thereby defeating one of the purposes of Bitcoin.

When are you people going to get it?

Do you think bitcoin will and can only be used in ways that fully embrace all its purposes ? Of course not.
It is obvious that there will be service providers who accept bitcoins for merchants but will enforce chargebacks on a FIAT reserve of the merchant. There is absolutely no need to have access to a BTC wallet of the merchant.
Ecommerce requires trust and without chargeback security consumers will not trust. If paypal is not offering this, someone else will.

[Plento]

I want Paypal nowhere near Cryptocurrency.  I hate those ****ers.

[gitinahang]

Paypal is smart they will survive somehow.

[serenitys]

Paypal is smart they will survive somehow.

Paypal will be history in 5 years. It took them about that long to get to mass adoption...so bitcoin would take less time to go mainstream and do it better. Paypal can't compete with bitcoin. They might offer a wallet service but the second people learn enough about bitcoin they will not put their coin in paypal unless they're stupid.

They can't offer anything to outdo bitcoin, neither in service, currency and certainly not security.

It's the difference between a corporation selling bottled water or confiscating it at a whim, and everyone having their own well spring in their back yard with lifetime pure water. Only an idiot would buy from the corporation.

Western Union though will fall before paypal simply because online is more convenient than offline. Once people understand they can send money instantly for pennies, online, they will never step foot inside another WU.

Soon as the infrastructure is in place and the transition is smooth, mass adoption will escalate and these two will begin to implode as people leave them or stop using them in droves.

[ranlo]

Paypal is smart they will survive somehow.

Paypal will be history in 5 years. It took them about that long to get to mass adoption...so bitcoin would take less time to go mainstream and do it better. Paypal can't compete with bitcoin. They might offer a wallet service but the second people learn enough about bitcoin they will not put their coin in paypal unless they're stupid.

They can't offer anything to outdo bitcoin, neither in service, currency and certainly not security.

It's the difference between a corporation selling bottled water or confiscating it at a whim, and everyone having their own well spring in their back yard with lifetime pure water. Only an idiot would buy from the corporation.

Western Union though will fall before paypal simply because online is more convenient than offline. Once people understand they can send money instantly for pennies, online, they will never step foot inside another WU.

Soon as the infrastructure is in place and the transition is smooth, mass adoption will escalate and these two will begin to implode as people leave them or stop using them in droves.

Yeah, I mean nobody has heard about Bitcoin that still doesn't use it. Everyone I've talked to on the street uses Bitcoin actively and has changed away from PayPal.

You're delusional.

Bitcoin and PayPal are catering to two VERY DIFFERENT types of people. What you're saying is analogous to "motorcycle companies are going to go out of business because cars were created and they're safer and offer more features." Different people.