Federal Investigation Launched into eBay's trading action attacking Carl ICahn

[Mikerogers]

As many know, Carl ICahn is a large shareholder in eBay. On Friday, there was a federal investigation into perceived price manipulation for eBay's stock by Carl Icahn and a few other big shareholders. Wall street Journal broke this news, more to come. http://online.wsj.com/articles/fbi-sec-probe-trading-of-carl-icahn-billy-walters-phil-mickelson-1401492772

The reason why this is being posted is that eBay (with PayPal) are direct competitors to Bitcoin. If eBay/PayPal take a bit, Bitcoin will likely take market share from it.

[Kluge]

A company doesn't lose market share because stock price decreases and investors are fined/imprisoned. Sounds like eBay would be better off with these guys forced/pressured into selling their shares.

"Hey, can I pay in PPUSD?"

"No, man. A few of their investors had to pay fines to the government recently, so I obviously don't want to use it because I used to really believe in the law-abiding ideals of their shareholders."


Or - wait. Did you just bait me into proving your real point?

[haploid23]

I hate any links to Wall Street Journal. We can't read it unless we pay for a subscription. Can someone copy the relevant part of the article and post it on here?

Anyways, as of now I don't think crypto currency is anywhere near being a direct competitor of paypal. Sure we have a sizable volume, but it's mostly used to trade, not buy goods and services yet. Paypal is a payment processor, and I think it's quite a long ways until bitcoin overtakes paypal market. People have to get off the idea of using it as an investment vehicle, and see it more as a currency before it can be accepted by the average Joe.

[serenitys]

I hate any links to Wall Street Journal. We can't read it unless we pay for a subscription. Can someone copy the relevant part of the article and post it on here?

Anyways, as of now I don't think crypto currency is anywhere near being a direct competitor of paypal. Sure we have a sizable volume, but it's mostly used to trade, not buy goods and services yet. Paypal is a payment processor, and I think it's quite a long ways until bitcoin overtakes paypal market. People have to get off the idea of using it as an investment vehicle, and see it more as a currency before it can be accepted by the average Joe.

You can copy the headline, paste in google and get a ton of other sites that have the whole thing, or at least the point of it.

[dreamspark]

I hate any links to Wall Street Journal. We can't read it unless we pay for a subscription. Can someone copy the relevant part of the article and post it on here?

Anyways, as of now I don't think crypto currency is anywhere near being a direct competitor of paypal. Sure we have a sizable volume, but it's mostly used to trade, not buy goods and services yet. Paypal is a payment processor, and I think it's quite a long ways until bitcoin overtakes paypal market. People have to get off the idea of using it as an investment vehicle, and see it more as a currency before it can be accepted by the average Joe.

All trading happens on an internal basis though, just numbers in a database. Yes there's the transactions in and out but other than that how can you attribute much more of the volume to trading?

[dreamspark]

Whats the real deal ?

Bitcoin is overtaking the competitors soon this year

The price of BTC would have start to go parabolic again for it to start overtaking competitors I'd imagine.

[STT]

How much tax does Paypal pay on its business.    They wouldnt be very happy if some collective just replaces that business without giving its tip.    It has taken business I guess, much less then 10% I think.    Paypal lets people send or even request money from an email address where as bitcoin generally does not so they are not comparable in markets they are addressing right now.
If BTC replace PP globally I'd say 100k per coin maybe but I reckon they'd miss the tax revenue and come looking for it