PayPal Integrating Bitcoin soon.

[hosting-guru]

I am looking forward to seeing how this implementation goes. Would be great if people could buy their Bitcoins instantly through PayPal by using credit cards or PayPal funds.

[Jerome?]

Why is it that others say that paypal will ban account with bitcoin related transaction?

[kittycatbtc]

Why is it that others say that paypal will ban account with bitcoin related transaction?

Nothing is comfirmed, its all a big rumor IMO.

[TsuyokuNaritai]

https://www.youtube.com/watch?v=pF7HxLCFMeY

"We can spend Bitcoin with a tap, without a pocket..."

It looks legit.

Reddit post here: http://www.reddit.com/r/Bitcoin/comments/2ft75q/paypal_featuring_bitcoin_in_his_app_we_can_spend/

[hilariousandco]

https://www.youtube.com/watch?v=pF7HxLCFMeY

"We can spend Bitcoin with a tap, without a pocket..."

It looks legit.

Reddit post here: http://www.reddit.com/r/Bitcoin/comments/2ft75q/paypal_featuring_bitcoin_in_his_app_we_can_spend/

Something tells me it isn't legit. That video is pretty disturbing. Wonder if they got hacked? Just doesn't seem right. Why would PP be advertising bitcoin right now when it seems to be a direct competitor to them?

[TsuyokuNaritai]

https://www.youtube.com/watch?v=pF7HxLCFMeY

"We can spend Bitcoin with a tap, without a pocket..."

It looks legit.

Reddit post here: http://www.reddit.com/r/Bitcoin/comments/2ft75q/paypal_featuring_bitcoin_in_his_app_we_can_spend/

Something tells me it isn't legit. That video is pretty disturbing. Wonder if they got hacked? Just doesn't seem right. Why would PP be advertising bitcoin right now when it seems to be a direct competitor to them?

Or a valuable weapon. Apple are apparently announcing a mobile wallet tomorrow. The mobile wallet wars have begun.

[keithers]

For buyers, Paypal integrating BTC would in some cases be better than purchasing directly from a merchant with BTC.  I think this is especially so for large purchases.   Despite their being some fees (for the merchant), if Paypal integrates BTC, it gives the buyer an added layer of security in case they don't receive what they purchased, or if what arrives is completely different from what they thought they were purchasing.

The way things stand right now, if you purchase something directly from another person (using BTC), you have to rely heavily on the seller's reputation, and you still have to trust the person to send you what you purchased (unless you use escrow).  If Paypal integrated BTC, then both sides of the transaction would be protected, so in essence the merchant would be paying Paypal a small escrow fee. 

As it stands right now, if escrow is used, both parties need to trust the escrow provider, and there is still the slight chance that the escrow person/company takes off with the BTC.

[hilariousandco]

https://www.youtube.com/watch?v=pF7HxLCFMeY

"We can spend Bitcoin with a tap, without a pocket..."

It looks legit.

Reddit post here: http://www.reddit.com/r/Bitcoin/comments/2ft75q/paypal_featuring_bitcoin_in_his_app_we_can_spend/

Something tells me it isn't legit. That video is pretty disturbing. Wonder if they got hacked? Just doesn't seem right. Why would PP be advertising bitcoin right now when it seems to be a direct competitor to them?

Or a valuable weapon. Apple are apparently announcing a mobile wallet tomorrow. The mobile wallet wars have begun.

Then what does Apple have to do with Paypal? And does this Apple wallet deal with bitcoin or is it just some sort of mobile payment wallet?

[TsuyokuNaritai]

Why would PP be advertising bitcoin right now when it seems to be a direct competitor to them?

Or a valuable weapon. Apple are apparently announcing a mobile wallet tomorrow. The mobile wallet wars have begun.

Then what does Apple have to do with Paypal?

Because the Apple wallet is the direct competitor.

[futureazy]

Define "soon" because these news pop out almost every week but no one becomes true.

[TsuyokuNaritai]

Something tells me it isn't legit. That video is pretty disturbing. Wonder if they got hacked?

Videos like this take a lot of $ and time to make.

Do you think these were all a hack?

http://www.ibtimes.co.uk/paypal-bitcoin-integration-coming-very-soon-says-ebay-ceo-john-donahoe-1451477

http://www.cryptocoinsnews.com/ebay-ceo-talks-bitcoin-paypal-will-integrate/

http://video.cnbc.com/gallery/?video=3000281677

[hilariousandco]

Something tells me it isn't legit. That video is pretty disturbing. Wonder if they got hacked?

Videos like this take a lot of $ and time to make.

Do you think these were all a hack?

http://www.ibtimes.co.uk/paypal-bitcoin-integration-coming-very-soon-says-ebay-ceo-john-donahoe-1451477

http://www.cryptocoinsnews.com/ebay-ceo-talks-bitcoin-paypal-will-integrate/

http://video.cnbc.com/gallery/?video=3000281677

People have $ and time to make hoaxes all the time. The video seems legit but the audio doesn't. They could've got the video from somewhere else and just muxed the audio over it, and those links don't really mention anything concrete for bitcoin integration either. Just seems a little weird they would do this without any plans actually announced. Doesn't seem to be anything in it for them at the moment.

[Fuserleer]

Why oh why do people get panties all wet at the thought of Paypal accepting Bitcoin?

However it's implemented it won't end well, lets look at some facts:

Paypal loves chargebacks, any customer complaint of any sort and accounts get frozen and the funds within them get held for 180 days......Paypal certainly uses this to their advantage and invest that held money to profit themselves.   Paypal will have a stock pile of Bitcoin from doing the same thing, they can then influence the market with this stock pile and profit further.

Paypal certainly will not give a good BTC -> USD rate, so again they will profit further.

Back to chargebacks, how will this be implemented?  My guess it that anyone wishing to use Bitcoin will be required to have a bank account verified with that account, so any chargebacks can be taken from a bank account.  That is the only way I can see Paypal model being able to work.....which for me raises many many red flags.

We all know how most governments and banks feel about Bitcoin. If you use Paypal to pay with Bitcoins, and the government wants to know who these people are, Paypal will just roll over and spill all.  They will then know who you are, and if they decide to take a tough stance against Bitcoin in the future, innocent of any crimes or not, well, you are directly in the crosshairs.  

The banks will know from Paypal which of their customers are using Bitcoin and will close accounts at will, and if that happens, good luck opening another one.

Paypal accepting Bitcoin, for me at least, feels like an easy way for TPTB to get a hold of who is using it, for them to be victimized later at whatever whim.

I've had nothing but terrible experiences in the past with Paypal, and anyone that thinks them accepting Bitcoin is a good thing seriously needs a head examination IMO.  It will be a HUGE mess, use at your own peril.

[skywave]

All very true Fuserleer !

[sparkleboy]

I really dont wanna give paypal anymore of my money after they done, Why will u guys go back supporting the scum that scammed most of you anyway?

[hilariousandco]

I really dont wanna give paypal anymore of my money after they done, Why will u guys go back supporting the scum that scammed most of you anyway?

You don't have to give them any money, but millions of others will continue to use them so it's still good for bitcoin in the long run, though maybe we won't need any payment processors at all in the future.

What do you guys think the fee will be like?  

Probably similar or slightly less than what they charge now.

[Damnyo]

If the fee is the same no one will care to use BTC 

[counter]

I'm not sure why the new thing is considering news for Bitcoin to be bad lol.  If this is real which I can't tell otherwise how could it be considered  bad?  I wonder if any  body would tell me what they say from 47 seconds of the the video to 50 seconds?  I'm not a huge fan of the video but I like that it does subtly grab my attention and it isn't over the top in too many ways.

edit: this post was made for the other paypal thread but is still relavant here.

[Junkey]

If they do all their BTC exchanging between two Paypal parties off chain they they could implement charge backs by putting a say 30 day delay on letting someone remove BTC from their paypal account.

[hawahawa]

Since the news of Paypal come out the price stopped to drop, now it should began to rise.