Why Paypal's decision to accept Bitcoin through Braintree is bad news for BTC

[tilray]

Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin”

More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/

[MineForeman.com]

Any evidence to back up your wacky claims?

[MineForeman.com]

Last year, news was leaked that if any user that possessed a Bitcoin wallet file (wallet.dat), they would be put on the NSA watchlist, and become a target for the notorious government spying program PRISM.

That is from the article linked above, if you click on the link in "news" it takes you to this wired article;-

http://www.wired.com/2014/07/nsa-targets-users-of-privacy-services/

The article does not even mention bitcoin let alone a wallet.dat file.  Bad journalism if you ask me.  Whats up?

Neil

[keithers]

Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin”

More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/

Even if this were true (which I dont know how likely that is), how would it affect you if you didn't make any tranactions in BTC using paypal. Its pretty much common knowledge that when you make a purchase through paypal, it is almost like public record. It has to be viewable to them in case you make some sort of claim or chargeback. I am wondering how thei would go about buyer chargebacks for those who pay in BTC using paypal.

[blatchcorn]

Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin”

More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/

Sounds like good news to me from your summary

[SomethingElse]

Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin”

More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/

Sounds like good news to me from your summary

Sounds like good news to me too.  Another arm is being added to the decentralized network of the bitcoin octopus.  Not all arms will be the same. 

[Daniel91]

Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin”

More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/

Even if this were true (which I dont know how likely that is), how would it affect you if you didn't make any tranactions in BTC using paypal. Its pretty much common knowledge that when you make a purchase through paypal, it is almost like public record. It has to be viewable to them in case you make some sort of claim or chargeback. I am wondering how thei would go about buyer chargebacks for those who pay in BTC using paypal.

Yes, this is very good question.
In the past i had some issues with sellers (didn't receive what UI paid for9 but thanks to Paypal i got full refund of my money.
it's really good question how this claim and dispute process will work with Bitcoin funds.

[minerpumpkin]

Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin”

More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/

So, in which way is this bad news for Bitcoin? I really, really couldn't think of a reason! It may increase the selling pressure in the near term, but will give us an increased exposure and publicity to people using these services, which will be worth a lot more for the future of Bitcoin. I'm talking orders of magnitudes here...

[picolo]

Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin”

More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/

Sounds like good news to me from your summary

Sounds like good news to me too.  Another arm is being added to the decentralized network of the bitcoin octopus.  Not all arms will be the same. 

Same for me, it seems like good news, you didn't demonstrate how it will negatively affect the price

[chaosknight]

Good news, more people will get to know bitcoin..

[commandrix]

I am not seeing how this is a bad thing. Maybe it'll just get people doing some research on Bitcoin and going, "Oh, Bitcoin is sort of like Paypal only better because I can just store it on my own computer." Bitcoin's nature will probably still scare off the ones who do fraudulent chargebacks but that won't bother those of us who are sellers if we just don't use Braintree.

[oceans]

I can't see how this can be a bad thing to be honest because it's a way to get bitcoin out there and get more people interested, anyone knows that until people hear of this they are never going to find out what it is any other way which is why we need companies like this to start accepting it.

[spidergoat]

I can pay now using bitcoin on Ebay? How?

[Keyser Soze]

Just seems to be promoting his site where people add any fabricated story they want.

[SOAD]

I can pay now using bitcoin on Ebay? How?

No you can't. Braintree is not ebay or paypal but is owned by the same people. There doesn't seem to be anything convrete suggesting ebay or paypal will accept bitcoin anytime soon.

[hikedoon]

  Bitcoin need's to be ADVERTISED so people hear about it.
  I see this as a good thing.

[lol3c]

With paypal joining BTC, it's a good advertisment for BTC so more investors can come in and raise the price. I see it as a good thing.

[QuestionAuthority]

WHAT, the NSA spies on US citizens and tracks their spending? Next you'll be trying to tell me sliced white bread is edible.

[tilray]

the NSA tracks every time you use the bathroom

[zorke]

Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin”

More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/

Even if this were true (which I dont know how likely that is), how would it affect you if you didn't make any tranactions in BTC using paypal. Its pretty much common knowledge that when you make a purchase through paypal, it is almost like public record. It has to be viewable to them in case you make some sort of claim or chargeback. I am wondering how thei would go about buyer chargebacks for those who pay in BTC using paypal.

I think that paypal transactions will likely not be denominated in terms of bitcoin but rather in terms of dollars. Paypal would likely work as a way to cashout of bitcoin and into paypal safely, not as a wallet.