What happens when Paypal accepts Bitcoin ?

[AZwarel]

Awesome 

[CEG5952]

That would have to be a pretty massive project to develop, given Paypal's size and infrastructure. When do you think this could possibly become a reality? I agree: moon.

[Parazyd]

I think it will have detrimental effect on btc price when and if Paypal starts accepting bitcoins. Paypal, like Western Union, faces an agonizing future where BTC becomes the mainstream payment option. Paypal's only options at this time are:

1. Delay and postpone the inevitable mass adoption of bitcoins
2. Co-opt and integrate bitcoins and become another bitcoin processor

They are doing whatever they can do to prolong Option #1  right now. Option #2 is painful to them because it means the loss of their hugely profitable business model.

You're wrong.  PP essentially becomes the trusted 3rd party escrow service although it doesn't use those scary terms.

An escrow service that's gonna take huge fees.

[DolanDuck]

In my opinion when (if?) Paypal will accept bitcoins, the adoption between people and merchants will quickly increase, the value will follow.

[Parazyd]

In my opinion when (if?) Paypal will accept bitcoins, the adoption between people and merchants will quickly increase, the value will follow.

That will happen. Even more if Amazon and eBay start using it.

[bitebits]

I assume Paypal is going to act is a wallet in a way other wallets currently can't: you can access your bitcoins from the paypal wallet, and convert them into any fiat you like during a paypal purchase. That is a great impovement compared to the currently existing wallets, especially if fiat to bitcoin is accepted as well.

Hopefully payments in bitcoin are allowed as a payment option as well using the blockchain. I am however quite sure you won't see a bitcoin address on eBay, because paypal acts as escrow taking fees.

[Parazyd]

I assume Paypal is going to act is a wallet in a way other wallets currently can't: you can access your bitcoins from the paypal wallet, and convert them into any fiat you like during a paypal purchase. That is a great impovement compared to the currently existing wallets, especially if fiat to bitcoin is accepted as well.

Hopefully payments in bitcoin are allowed as a payment option as well using the blockchain. I am however quite sure you won't see a bitcoin address on eBay, because paypal acts as escrow taking fees.

But if it converts to fiat when you pay, then it's not different than BitPay.

[minimalB]

In many countries outside of USA, it's hard to link normal checking bank account with PP. Only credit cards are available. So, for example, many are not able to buy expensive things on ebay / shops, because their credit card can stretch, let say, up to 500-1000EUR.
 
Even if PP only allows to deposit BTC and immediately converts it to EUR, it's still gonna be useful for many people. And anyone without a credit/debit card is going to have a chance to buy online anywhere PP is accepted.

I think, in the short run, having PP on board is great, but we don't need PP at all in the long run, though.

[Parazyd]

In many countries outside of USA, it's hard to link normal checking bank account with PP. Only credit cards are available. So, for example, many are not able to buy expensive things on ebay / shops, because their credit card can stretch, let say, up to 500-1000EUR.
 
Even if PP only allows to deposit BTC and immediately converts it to EUR, it's still gonna be useful for many people. And anyone without a credit/debit card is going to have a chance to buy online anywhere PP is accepted.

I think, in the short run, having PP on board is great, but we don't need PP at all in the long run, though.

Completely agreed. I hope that will come quite soon. With PayPal starting accepting, there will be mass adoption. There's a possibility of being able to buy BTC with PayPal too.

[wachtwoord]

In many countries outside of USA, it's hard to link normal checking bank account with PP. Only credit cards are available. So, for example, many are not able to buy expensive things on ebay / shops, because their credit card can stretch, let say, up to 500-1000EUR.
 

If you have sufficient means to afford purchases above your credit limit the credit card company will provide higher limits. That's how they print money (not literally like the banks but in a cash cow fashion )

[ShakyhandsBTCer]

In many countries outside of USA, it's hard to link normal checking bank account with PP. Only credit cards are available. So, for example, many are not able to buy expensive things on ebay / shops, because their credit card can stretch, let say, up to 500-1000EUR.
 

If you have sufficient means to afford purchases above your credit limit the credit card company will provide higher limits. That's how they print money (not literally like the banks but in a cash cow fashion )

I would not consider this to be printing money, it is more how fractional reserves work. The credit card is going to be repaid (on average when taking into consideration all the interest they collect).

Printing money is when a central bank buys debt with money they do not really have.