PayPal could benefit greatly from providing a wallet service

[Light]

No thank you. I don't want PayPal near Bitcoins. They will fuck it up, I am 100% sure of that and nobody can convince me otherwise. They will freeze funds, lose coins, etc. Never ever would I use a Bitcoin service provided by BitcoinPayPal after they fucked so many legit Bitcoin resellers.

FTFY.

Anyway, I'm doubtful you'll have to worry about that eventuality. Having a Bitcoin wallet on PayPal doesn't exactly benefit PayPal, if they started to charge fees both consumers and merchants can use clients (like Electrum/Multibit/Qt) that don't actually cost you for using the client. And without fees all they are doing is competing with themselves and earning nothing from it. Unless they come up with a way to generate profits from running a Bitcoin wallet without actually charging fees it won't be implemented.

[aeternum.in]

The value of my bitcoin would greatly benefit from Paypal providing a wallet service.


Although seriously, getting PayPal onboard would be fantastic. For all the hate, for the vast majority of 'mom and pop' types, they do an excellent job.

[sclaggett]

Following this thread I find it interesting that everyone is so anti-paypal.  The fact is where would commerce be today without it.  They were a catalyst for e-commerce growth especially for small to medium size businesses.  Can they do the same for bitcoin if they venture in?  Not sure but they will engage if the time is right.

For those fearing they will hold coin, steal etc.... that has already happened with Mt. Gox and others.  Anybody doing a risk analysis of their funds would have scored Paypal at a 95%+ trust level and Mt. Gox at like 5%.

Finally, because this is decentralized by nature how can they screw it up.  Everyone will just have more choices.  More options are  a good thing.

[Rampton]

Paypal would benefit but users probably wont the amount they'll want in fees. Suppose it spreads bitcoin to a bigger audience though.

[PolarPoint]

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

[LostDutchman]

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

[ranlo]

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

[LostDutchman]

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

[ranlo]

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

What do you think is the primary reason then? Their CEO stated that he wants to implement Bitcoin to eBay and PayPal, so their hostilities can't possibly be because THEY didn't like it. That or they flip-flop.

What is your view on this?

[LostDutchman]

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

What do you think is the primary reason then? Their CEO stated that he wants to implement Bitcoin to eBay and PayPal, so their hostilities can't possibly be because THEY didn't like it. That or they flip-flop.

What is your view on this?

Simple.

The credit card companies to which Paypal and ebay are beholden will never allow it.

[oXo]

I doubt that PP will do that, but anyway I don't think they will benefit so much from it though "Considering how much there fees are they won't be able to get close to that if they work on BTC".

[ranlo]

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

What do you think is the primary reason then? Their CEO stated that he wants to implement Bitcoin to eBay and PayPal, so their hostilities can't possibly be because THEY didn't like it. That or they flip-flop.

What is your view on this?

Simple.

The credit card companies to which Paypal and ebay are beholden will never allow it.

So basically your theory is that the CC companies are running (through, for all intents and purposes, threats -- as PayPal relies on them) PP/eBay and are ensuring they don't do anything to hurt that relationship?

That seems plausible as well. And I guess it would fit in line with them (CC companies) banning merchants that offer cash discounts or charging more for CCs (as it's essentially the same thing, just in a different manner).

[LostDutchman]

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

What do you think is the primary reason then? Their CEO stated that he wants to implement Bitcoin to eBay and PayPal, so their hostilities can't possibly be because THEY didn't like it. That or they flip-flop.

What is your view on this?

Simple.

The credit card companies to which Paypal and ebay are beholden will never allow it.

So basically your theory is that the CC companies are running (through, for all intents and purposes, threats -- as PayPal relies on them) PP/eBay and are ensuring they don't do anything to hurt that relationship?

That seems plausible as well. And I guess it would fit in line with them (CC companies) banning merchants that offer cash discounts or charging more for CCs (as it's essentially the same thing, just in a different manner).

Basically the CC companies will not engage in payment methods which they cannot control.

[ranlo]

Basically the CC companies will not engage in payment methods which they cannot control.

Does this mean that you feel the CEO is lying when he says they are actively looking into ways to implement Bitcoin into both eBay and PayPal as a payment method? I think that speaks pretty strongly about their plans.

[LostDutchman]

Basically the CC companies will not engage in payment methods which they cannot control.

Does this mean that you feel the CEO is lying when he says they are actively looking into ways to implement Bitcoin into both eBay and PayPal as a payment method? I think that speaks pretty strongly about their plans.

OK, here is the deal; short and sweet or sweet and sour, as the case may be.

The credit card companies have a strong policy in favour of the buyer, which includes a chargeback or forced refund method.

If Paypal sets up a Bitcoin payment option are you willing to give Paypal the key to your Bitcoin wallet in order to facilitate refunds?

(Waiting)

(Frogs: Ribbit, ribbit!)



Waiting........................................................................ ......................

That's what I thought.

Thank you for your support.

[ranlo]

Basically the CC companies will not engage in payment methods which they cannot control.

Does this mean that you feel the CEO is lying when he says they are actively looking into ways to implement Bitcoin into both eBay and PayPal as a payment method? I think that speaks pretty strongly about their plans.

OK, here is the deal; short and sweet or sweet and sour, as the case may be.

The credit card companies have a strong policy in favour of the buyer, which includes a chargeback or forced refund method.

If Paypal sets up a Bitcoin payment option are you willing to give Paypal the key to your Bitcoin wallet in order to facilitate refunds?

(Waiting)

(Frogs: Ribbit, ribbit!)



Waiting........................................................................ ......................

That's what I thought.

Thank you for your support.

I personally wouldn't because they've screwed me in the past. But we're not mainstream with Bitcoin and PayPal is most definitely mainstream. This means they will benefit greatly because TONS of people are going to utilize their services. Those who can't secure their own accounts will rely on PayPal. Those who don't understand Bitcoin will use PP. These people will most definitely constitute the majority.

[LostDutchman]

Basically the CC companies will not engage in payment methods which they cannot control.

Does this mean that you feel the CEO is lying when he says they are actively looking into ways to implement Bitcoin into both eBay and PayPal as a payment method? I think that speaks pretty strongly about their plans.

OK, here is the deal; short and sweet or sweet and sour, as the case may be.

The credit card companies have a strong policy in favour of the buyer, which includes a chargeback or forced refund method.

If Paypal sets up a Bitcoin payment option are you willing to give Paypal the key to your Bitcoin wallet in order to facilitate refunds?

(Waiting)

(Frogs: Ribbit, ribbit!)



Waiting........................................................................ ......................

That's what I thought.

Thank you for your support.

I personally wouldn't because they've screwed me in the past. But we're not mainstream with Bitcoin and PayPal is most definitely mainstream. This means they will benefit greatly because TONS of people are going to utilize their services. Those who can't secure their own accounts will rely on PayPal. Those who don't understand Bitcoin will use PP. These people will most definitely constitute the majority.

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.

[ranlo]

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).

[LostDutchman]

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?

[ranlo]

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?

What you have to keep in mind is that how YOU feel is irrelevant. How *I* feel is irrelevant. How we (as a community) feel is irrelevant. We are ALL in the minority.

PayPal will do what makes them money. If they implement Bitcoin payments, people *are* going to use it. It is *going* to bring Bitcoin more mainstream. What you, I or the entire Bitcoin community think means absolutely nothing; PayPal will be able to push things out there. People have heard of Bitcoin but are afraid to use it. PayPal will "ease" this fear in them and bring them on board. It's *their* opinions that matter; those of the people who aren't technologically minded. Those who don't understand what's going on.

You need to leave your own feelings out of this because they don't matter to PayPal. They aren't trying to bring *us* on board; we're already here.

They don't care what Bitcoin was MADE to do. They care whether or not it is going to make them profit. Altering its use to profit is exactly what a business is supposed to do, so I guarantee they will.