[2014-08-19] Expected Bitcoin Payment on eBay Is a Significant Step Toward Mass

[erono]

http://moneymorning.com/2014/08/18/expected-bitcoin-payment-on-ebay-is-a-significant-step-toward-mass-adoption/

E-commerce giant eBay Inc.(Nasdaq: EBAY) is very close to offering Bitcoin payment as an option via its Braintree subsidiary - a high-profile move that will mark another milestone on the road to mass adoption of the digital currency.

Last week The Wall Street Journal said that according to "people familiar with the matter" officials from eBay's PayPal unit had been in talks with several Bitcoin payment companies, including Coinbase.

[heartbit]

Braintree processes payments for Uber and AirBnB.

Not eBay (yet!) but it's a big step in the right direction!

[Ludi]

Braintree processes payments for Uber and AirBnB.

Not eBay (yet!) but it's a big step in the right direction!

This. They seem to have got confused or run with the headline that this means that ebay are likely to accept bitcoin when this is not the case, though I also think it's a step in the right direction. Maybe ebay are testing the waters with bitcoin at the moment to see how they like it. Ebay adopting it would be a massive step so I can understand their aprehension.

[311]

One of the reasons why I'm cynical about ebay accepting bitcoin is because it seems to me like a direct competitor to paypal. How will they implement it and how will they provide buyer protection? It just seems the opposite of what PP is about. Hope I'm wrong though.

[Balls]

One of the reasons why I'm cynical about ebay accepting bitcoin is because it seems to me like a direct competitor to paypal. How will they implement it and how will they provide buyer protection? It just seems the opposite of what PP is about. Hope I'm wrong though.

I could think of one way. They would just have to either create their own payment processor or escrow system like bitpay or whatever or integrate it into paypal somehow. Ie you pay for the item and the funds go into ebay/paypal's bitcoin escrow. Once the buyer has recieved the item the funds are released. If they don't get the goods the funds will probably get sent back. I'm sure they'd have to do something like thos rather than work with an external compant.