Ebay CEO finally surrender to Bitcoin

[The00Dustin]

Ebay should just allow their customers to pay using Bitcoin separately from Paypal.
This way, Paypal is not controlling Ebay's payment system. Unless Ebay is own by Paypal 100% then that's a whole different story.

Then they would be on the hook for their buyer protection thing and have no way to collect their fees. 

Do you really think eBay Money Back Guarantee applies when they don't control the funds to the seller?  I'll give you a hint...

Purchases are covered by the eBay Money Back Guarantee when all of the following are true:
<snip>
The purchase was made with the Pay Now option or an eBay invoice
<snip>

IOW, even if the money doesn't go through a PayPal account, proof that you paid the buyer in messages on eBay's site won't be enough, the bitcoin will have to go to eBay first, and no doubt they'll take their cut, not to mention hold on to the funds for any seller that hasn't "earned their trust."

ETA: More importantly, it wouldn't surprise me if the refund was required to be in the form of the auction currency and/or the buyer was required to take a loss due to conversion rates in many cases (bitcoin price goes up? sorry, you get less back. it went down? lucky you, you get what you sent back.).

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[hilariousandco]

Ebay should just allow their customers to pay using Bitcoin separately from Paypal.
This way, Paypal is not controlling Ebay's payment system. Unless Ebay is own by Paypal 100% then that's a whole different story.

Then they would be on the hook for their buyer protection thing and have no way to collect their fees. 

Do you really think eBay Money Back Guarantee applies when they don't control the funds to the seller?  I'll give you a hint...

Purchases are covered by the eBay Money Back Guarantee when all of the following are true:
<snip>
The purchase was made with the Pay Now option or an eBay invoice
<snip>

IOW, even if the money doesn't go through a PayPal account, proof that you paid the buyer in messages on eBay's site won't be enough, the bitcoin will have to go to eBay first, and no doubt they'll take their cut, not to mention hold on to the funds for any seller that hasn't "earned their trust."

This is exactly what will happen. They'll cover their bases and it's logical to do so. If anyone doesn't like their process, service, or commission rates just don't use them. Them accepting Bitcoin is good for the community whatever they do though.

[medUSA]

This is encouraging! They have been dropping hints all year, and here we have a more definite confirmation. I bet there is a catch to it  

The best implementation would be a wallet and exchange service weaved into their existing infrastructure, but this change will be too radical for ebay/paypal. They should be thinking about something far smaller. Could be just a wallet service for their merchant accounts?

[bitcoinforhelp]

i dont like ebay so good
bitcoin won

[DolanDuck]

He stated to have bought some bitcoins but not for investment purposes, just to take confidence with cryprocurrency.
I bet he has more btc than most of us...

[bryant.coleman]

Don't get it wrong. John Donahoe has supported Bitcoin for some time. But the other Ebay board members are not that supportive, and some of them are downright hostile to Bitcoin. Let's wait and watch which side wins the battle. 

[ljudotina]

PayPal is close to border where there will be no return. Train is still passing by them and they still have time to jump in. If they do it on time, they will stay at throne for quiet some time. If they miss that oportunity, they will slowly but surely start to fall.

[Krang]

This is great news but I'd like to see some concrete evidence that they're moving towards adoption. Like Bryant said there's board members to please.

[Crindon]

Ebay CEO finally surrender to Bitcoin.
His company Ebay is far behind many other big fortune 500 companies that's currently accepting Bitcoin.
One of the biggest company Dish Network beat them to the race. Ebay is now left behind to eat dirt.

They are now looking at many different angles on how to let their customers pay using Bitcoin on Ebay.

related article:
eBay CEO Says Digital Currency Integration Coming 'Very Soon'
http://www.ibtimes.com/paypal-getting-bitcoin-ebay-ceo-says-digital-currency-integration-coming-very-soon-1594904

Bitcoin key to future of online payments: EBay CEO
http://www.cnbc.com/id/101734293

It's about time. I remember watching Donahoe previously and he seemed opposed to Bitcoin. Then he seemed to reluctantly consider it. Now he seems to be a supporter. In 3 more weeks, he will be the biggest Bitcoin fanboy and Bitcoin logos will be all over eBay and PayPal.

[JJB]

It's about time. I remember watching Donahoe previously and he seemed opposed to Bitcoin. Then he seemed to reluctantly consider it. Now he seems to be a supporter. In 3 more weeks, he will be the biggest Bitcoin fanboy and Bitcoin logos will be all over eBay and PayPal.

Yes it's strange. I wonder what made him change his mind? Maybe he realized it's a credible threat to his business.

[zimmah]

Ebay and DISH are not even remotely related. How can DISH compete with Ebay on anything?

Also, the CEO of Ebay was already bullish on bitcoin for a while, it just seems like he is confirming it even more and he will likely try to convince the other board members to integrate it soon.

[sclaggett]

It will be interesting to see how they proceed.  A positive statement for the industry.  Many consumers will still be skittish on why they should use bitcoin instead of traditional payment paths.  I still get the crazy looks and head turns when I mention bitcoin to people  (and that is just from family and friends ;-).  Still a ways to go.

[s.mouse]

It will be interesting to see how they proceed.  A positive statement for the industry.  Many consumers will still be skittish on why they should use bitcoin instead of traditional payment paths.  I still get the crazy looks and head turns when I mention bitcoin to people  (and that is just from family and friends ;-).  Still a ways to go.

I think it'll be a very long time before it happens if at all. They're probably just looking at how they can implement it and if its worth it to them.

[noSlave]

Remember 2010 when paypal froze money from wikileaks.
remember 2011 when freedom fighter were arrested because of paypal (ebay)

wikileaks still havn't their acount incl. money back


Don't support what is destroying you! http://www.wired.com/2010/12/paypal-wikileaks/

[Finchy]

Yes but most people including the general public unfortunately don't care about paypal and wikileaks.

[kokojie]

Ebay should just allow their customers to pay using Bitcoin separately from Paypal.
This way, Paypal is not controlling Ebay's payment system. Unless Ebay is own by Paypal 100% then that's a whole different story.

Then they would be on the hook for their buyer protection thing and have no way to collect their fees.  

Do you really think eBay Money Back Guarantee applies when they don't control the funds to the seller?  I'll give you a hint...

Purchases are covered by the eBay Money Back Guarantee when all of the following are true:
<snip>
The purchase was made with the Pay Now option or an eBay invoice
<snip>

IOW, even if the money doesn't go through a PayPal account, proof that you paid the buyer in messages on eBay's site won't be enough, the bitcoin will have to go to eBay first, and no doubt they'll take their cut, not to mention hold on to the funds for any seller that hasn't "earned their trust."

ETA: More importantly, it wouldn't surprise me if the refund was required to be in the form of the auction currency and/or the buyer was required to take a loss due to conversion rates in many cases (bitcoin price goes up? sorry, you get less back. it went down? lucky you, you get what you sent back.).

They don't even have to hook up Bitcoin to their eBay auction site. It could just be another coinbase type business for them, offering Bitcoin wallet service.

Basically they want to kill coinbase, because coinbase is a serious threat to paypal if it grows big.

[Ron~Popeil]

Ebay should just allow their customers to pay using Bitcoin separately from Paypal.
This way, Paypal is not controlling Ebay's payment system. Unless Ebay is own by Paypal 100% then that's a whole different story.

Then they would be on the hook for their buyer protection thing and have no way to collect their fees. 

Do you really think eBay Money Back Guarantee applies when they don't control the funds to the seller?  I'll give you a hint...

Purchases are covered by the eBay Money Back Guarantee when all of the following are true:
<snip>
The purchase was made with the Pay Now option or an eBay invoice
<snip>

IOW, even if the money doesn't go through a PayPal account, proof that you paid the buyer in messages on eBay's site won't be enough, the bitcoin will have to go to eBay first, and no doubt they'll take their cut, not to mention hold on to the funds for any seller that hasn't "earned their trust."

ETA: More importantly, it wouldn't surprise me if the refund was required to be in the form of the auction currency and/or the buyer was required to take a loss due to conversion rates in many cases (bitcoin price goes up? sorry, you get less back. it went down? lucky you, you get what you sent back.).

Precisely. No way they allow us to host our own payments. They will be escrow and arbitrator so disputes will generally come down on the side of the buyer.

[jbrnt]

I am tired of hearing what they may do, I want to hear when and how. This is the third time in these couple of months I heard similar statements from eBay. Things seems to be moving forward, but nothing definite.

[freebitcoins4u]

it might takes till ebay will allow bitcoin. however i think alibaba will accept them before.

[asimoshe]

I think that it is a bit problematic for ebay to allow payments in bitcoin because it will reduce the usege in paypal and paypal will not let it happen