[2014-09-08] Paypal adopts bitcoin, it's official.

[howardb]

It was announced at techcrunch today, they are using their huge subidiary Braintree initially to pilot it and partnering with coinbase.

http://blog.coinbase.com/post/96987622472/braintree-partners-with-coinbase-to-accept-bitcoin

[DiamondCardz]

Not bad. Now we just need PayPal itself to accept it and we've got something big. This is very, very good news though!

[murraypaul]

It was announced at techcrunch today, they are using their huge subidiary Braintree initially to pilot it and partnering with coinbase.

So a more accurate headline would be PayPal doesn't adopt Bitcoin, one of its subsidiaries does
This is a test balloon by eBay/PayPal, see what happens without risking any serious business.

[howardb]

It was announced at techcrunch today, they are using their huge subidiary Braintree initially to pilot it and partnering with coinbase.

So a more accurate headline would be PayPal doesn't adopt Bitcoin, one of its subsidiaries does
This is a test balloon by eBay/PayPal, see what happens without risking any serious business.

You could not be more wrong, it's Paypal that is absorbing Braintree tech not the other way around. In fact if you listen to the interview he says as much. You don't spend $800million on a company unless they have something you want, in in Paypals case it was a thoroughly modern and flexible payment api. Paypals current api/tech is nothing special at all these days, they know they need to update/upgrade.

It was interesting that the CEO of Braintree referenced the fact that had he spent a LOT of time with the CEO of ebay mapping out what future payment platform should look like.

[gmx95]

Every time I see something like that I think the price should shoot up on the positive news, but it does not happen. How much more news should come before it affects the price?

[TheButterZone]

Every time I see something like that I think the price should shoot up on the positive news, but it does not happen. How much more news should come before it affects the price?

http://www.coindesk.com/citi-miners-merchants-keeping-bitcoin-prices-check/

[Bit_Happy]

This is an exciting step in the right direction for BTC, and an important move for Paypal if they are to remain relevant in the future. I wonder how long before Paypal actually integrates Bitcoin?

[howardb]

Every time I see something like that I think the price should shoot up on the positive news, but it does not happen. How much more news should come before it affects the price?

http://www.coindesk.com/citi-miners-merchants-keeping-bitcoin-prices-check/

Thats an absolutely flawed prediction by Citi. Stating that miners are "having to sell their bitcoin" as if they were not selling them before. They clearly don't understand that most mining models return the btc to investors as they are mined, or reinvest a portion in new kit.

[murraypaul]

It was announced at techcrunch today, they are using their huge subidiary Braintree initially to pilot it and partnering with coinbase.

So a more accurate headline would be PayPal doesn't adopt Bitcoin, one of its subsidiaries does
This is a test balloon by eBay/PayPal, see what happens without risking any serious business.

You could not be more wrong,

I am right.
Braintree are adopting Bitcoin, PayPal are not.
This is a safe way for eBay/PayPal to try out Bitcoin adoption in a small subsidiary, without risking any impact to their main businesses.

it's Paypal that is absorbing Braintree tech not the other way around. In fact if you listen to the interview he says as much. You don't spend $800million on a company unless they have something you want, in in Paypals case it was a thoroughly modern and flexible payment api. Paypals current api/tech is nothing special at all these days, they know they need to update/upgrade.

None of that has anything to do with what I said, so I don't know what you think you were responding to.

[Kakmakr]

Question is, what does Braintree bring to bitcoin? More people that might use the technology?

How will we benefit from this?

Will the price per bitcoin, go up or down, because of this?

[lewentkurt]

Yes for Braintree, but not just yet for all Paypay systems, don't hurry up.

[David Rabahy]

Every time I see something like that I think the price should shoot up on the positive news, but it does not happen. How much more news should come before it affects the price?

Old adage; buy the rumor, sell the news.

[bryant.coleman]

Yes for Braintree, but not just yet for all Paypay systems, don't hurry up.

lol... if Paypal had actually adopted Bitcoin, then we might have witnessed the BTC-USD exchange rate shooting up to 4 figures. But right now, the exchange rate is going down ($467 in BTC-E). I hope Paypal will adopt the digital currency, latest by 2015 January.  They might be a little concerned about the volatility of the currency.

[Chef Ramsay]

Well, the good news is that the building blocks are being placed for a firm foundation for future growth, use and liquidity by the common person.

[btcm4n14c]

title is misguiding, there is nothing official yet

[Finchy]

title is misguiding, there is nothing official yet

Yeah, all I've been seeing lately is people peddling paypal have adopted bitcoin but they haven't at all. That freaky bitcoin video they put out a few days ago has left me even more confused as to what they're doing, but I won't believe anything till I see them actually state we're adopting bitcoin.