And You Say Paypal Will Never Embrace Bitcoin

[BJay87]

Read this one in Bloomberg

EBay’s PayPal Unit to Start Accepting Bitcoin Payments
http://www.bloomberg.com/news/2014-09-08/ebay-s-paypal-unit-to-start-accepting-bitcoin-payments.html

Oh yeah!! This will surely be a big thing for bitcoin

[Bitcoinpro]

its already done, Paypal how now switched the story to them accepting it very soon

[bryant.coleman]

It is still too early to say that Paypal will start accepting Bitcoin in the near future. As things stand now, Bitcoin is one of the top rivals for Paypal, and has the capacity to obliterate the latter. We still don't know for sure who was behind Braintree's idea to accept Bitcoins. There is a chance that the whole thing was done without any approval from the Paypal board of directors.

[BitcoinBadger]

Could this make bitcoin price jump up to 700 dollars or something like that?

[medUSA]

"We’re announcing PayPal’s first foray into bitcoin,” Bill Ready, the chief of EBay’s Braintree unit, said at Techcrunch’s Disrupt SF conference yesterday. “Over the coming months we’ll allow our merchants to accept bitcoin. On the consumer side it will be a sleek experience."

This hype has gone on for so long, and it seems it is materialising. Good for PayPal and for us! 

[asdlolciterquit]

I don't understand why this news haven't created a rise of the price. Can someone explain this to me?

[PowerCordZ]

It is very surprising that paypal is talking about accepting bitcoins. It could be a great thing for bitcoins and we might see a huge rise and stability in bitcoin price.

[Ludi]

I don't understand why this news haven't created a rise of the price. Can someone explain this to me?

Well obviously bitcoin price doesn't rise everytime we get some good news. Plenty of big merchants have accepted bitcoin and the price didn't do anything, in fact sometimes it went down.

[BitCoinNutJob]

It is still too early to say that Paypal will start accepting Bitcoin in the near future. As things stand now, Bitcoin is one of the top rivals for Paypal, and has the capacity to obliterate the latter. We still don't know for sure who was behind Braintree's idea to accept Bitcoins. There is a chance that the whole thing was done without any approval from the Paypal board of directors.

Is that possible the paypal board of directors wouldnt know the advertising department is about to mention bitcoin in their next youtube video? seems like a strange way to run a company if so considering what bitcoin is and means.

[OrientA]

It is still too early to say that Paypal will start accepting Bitcoin in the near future. As things stand now, Bitcoin is one of the top rivals for Paypal, and has the capacity to obliterate the latter. We still don't know for sure who was behind Braintree's idea to accept Bitcoins. There is a chance that the whole thing was done without any approval from the Paypal board of directors.

If Paypal adopts BTC, it can also charge fees, but maybe limited to 1%, similar to coinbase or bitpay. I am very interested in storing BTC in my Paypal account and use it in purchasing goods.

[runam0k]

If Paypal adopts BTC, it can also charge fees, but maybe limited to 1%, similar to coinbase or bitpay. I am very interested in storing BTC in my Paypal account and use it in purchasing goods.

Indeed, BTC in a wallet that is integrated almost everywhere and has your various delivery addresses saved.  I assume this is what they will offer.  Or they could link it to your online wallet (e.g. Coinbase) and pull coins from there.  Either way, perfect for spending coins where your privacy isn't too much of a concern.

[countryfree]

Hey, it isn't done yet! Paypal will very probably allow BTC transactions, but what's the point?

BTC are nearly anonymous with a very low fee. If paypal  makes them official person to person transactions with a high fee, I'm not sure it's an improvement. Still it could be great news, if paypal becomes an exchange. Most exchange companies today are small companies which can go bust (MtGox), none would stand up against paypal, which would become the dominant player. I'd say this is what they have in mind.

[CryptoPanda]

We are living in the mutha fuckin future right now people!

[Mr Tea]

The question is how exactly they gonna implement it in their current system

This is what I'm wondering. I reckon they'll just create their own version of bitpay and it'll essentially just be a paypal version of that. I think this is going to be great for adoption if you can use bitcoin to pay for anything where they accept paypal.

[BigGameCAsino]

So there will be no more post of "PAYPAL BLOCKED MY ACCOUNT BECAUSE IM TRANSACTING BITCOIN" ?

[blatchcorn]

So there will be no more post of "PAYPAL BLOCKED MY ACCOUNT BECAUSE IM TRANSACTING BITCOIN" ?

I would not count on it just yet.  They may actually get more strict if they want people to use just their Bitcoin services for exchange, rather than buying like a good/service

[bryant.coleman]

It is still too early to say that Paypal will start accepting Bitcoin in the near future. As things stand now, Bitcoin is one of the top rivals for Paypal, and has the capacity to obliterate the latter. We still don't know for sure who was behind Braintree's idea to accept Bitcoins. There is a chance that the whole thing was done without any approval from the Paypal board of directors.

If Paypal adopts BTC, it can also charge fees, but maybe limited to 1%, similar to coinbase or bitpay. I am very interested in storing BTC in my Paypal account and use it in purchasing goods.

What will happen if someone hacks in to your Paypal account and steals all the coins held there? Will Paypal issue a refund? Also, what makes you think that Paypal will charge just 1% fee? For fiat, they are charging around 3-4% in fees, plus other indirect charges. Why should Paypal lower their fees, just to attract a few thousand more users?

[BitCoinNutJob]

To me paypal's main reason to get into bitcoin is to grab the business of the unbanked.  They cant do this with fiat as well as with bitcoin.  Mobile payments are growing.  Unbanked will use mobile payments.

[Mr Tea]

It is still too early to say that Paypal will start accepting Bitcoin in the near future. As things stand now, Bitcoin is one of the top rivals for Paypal, and has the capacity to obliterate the latter. We still don't know for sure who was behind Braintree's idea to accept Bitcoins. There is a chance that the whole thing was done without any approval from the Paypal board of directors.

If Paypal adopts BTC, it can also charge fees, but maybe limited to 1%, similar to coinbase or bitpay. I am very interested in storing BTC in my Paypal account and use it in purchasing goods.

What will happen if someone hacks in to your Paypal account and steals all the coins held there? Will Paypal issue a refund? Also, what makes you think that Paypal will charge just 1% fee? For fiat, they are charging around 3-4% in fees, plus other indirect charges. Why should Paypal lower their fees, just to attract a few thousand more users?

They'll probably just deal with thefts how they deal with fiat thefts, though they're probably going to have to change their ways somehow especially with how rife fraudulent chargebacks are.

[Bobblehead Pete]

Not using paypal for bitcoin maybe for 3 years. I want Paypal not to fck up when I am with them.