BREAKING: PAYPAL PARTNERS WITH BITPAY ET AL

[blatchcorn]

http://www.coindesk.com/paypal-announces-first-partnerships-bitcoin-space/

Time to rally!

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[Guido]

just seen

buy buy buy

[kimosan]

Time to bump back up.

[shields]

LOL i would be scared if I was in fiat now.

[AtheistAKASaneBrain]

We'll have to see if this finally delivers a consistent bump in the price. We've been having good news for a while now and the price keeps stagnating.

[kokojie]

We'll have to see if this finally delivers a consistent bump in the price. We've been having good news for a while now and the price keeps stagnating.

Depends on how big is the news, since Bitcoin spend $1.5M per day in mining expense, the news has to bring in more than $1.5M daily capital inflow into the Bitcoin eco-system, in order for price to go up.

[Balls]

Though the online e-commerce pioneer stopped short of integrating bitcoin into its digital wallet or payment processing services directly, the move marks PayPal’s first formal offering to the bitcoin community.

Ugh, just goddamn implement it already.

In a blog post penned by senior director of corporate strategy Scott Ellison, PayPal revealed that online merchants will now be able to accept bitcoin via all three companies through its PayPal Payments Hub, its product that enables its customers to accept credit card, mobile carrier payments and other payment methods through a single integration.

What the hell is it's PayPal Payments Hub; never heard of it. Why can't they just add it to PP and be their own payment processor. This is what we really need so people can spend btc anywhere that accepts PP.

[kokojie]

Though the online e-commerce pioneer stopped short of integrating bitcoin into its digital wallet or payment processing services directly, the move marks PayPal’s first formal offering to the bitcoin community.

Ugh, just goddamn implement it already.

In a blog post penned by senior director of corporate strategy Scott Ellison, PayPal revealed that online merchants will now be able to accept bitcoin via all three companies through its PayPal Payments Hub, its product that enables its customers to accept credit card, mobile carrier payments and other payment methods through a single integration.

What the hell is it's PayPal Payments Hub; never heard of it. Why can't they just add it to PP and be their own payment processor. This is what we really need so people can spend btc anywhere that accepts PP.

It's a aggregate service for accepting payments with alternative payment methods, and also it's for buying digital goods only.

[haploid23]

Why didn't anyone mention they're also working with Coinbase? That's a big name too. Never used or even heard of GoCoin though. I was under the impression PP was only working through Braintree.

[LiteCoinGuy]

Time to buy !

only an idiot buys AFTER the news 

[rohnearner]

Wow Just saw this shared by coindesk on my fb newsfeed I hope/wish it should get btc to 500$ , although I haven't read the article through so better go through it before making my lil buy orders

[blatchcorn]

Time to buy !

only an idiot buys AFTER the news 

You could have bought after the news and still buy before this rally started.

[superresistant]

Time to buy !

only an idiot buys AFTER the news 

No one knows about it yet.

[dagi]

to the moon! 

[Scott J]

Market seems to be reacting very positively to this - make a change considering the muted response we've had recently to other good news.

[bigasic]

Here we go.. CHoo choo, Mother F'ers....

[EFFV]

This is great news for BTC.

[Its About Sharing]

Paypal needs to become a Bitcoin exchange. Then the sparks will really fly.

But regarding this news, it is pretty huge. This is no shock to any of us, but to the common man this means they are going to start seeing more BTC symbols in their daily purchases (shortly).
I remember when Paypal first came out and I thought "What a stupid name. What is this, some kind of payment service? Never heard of it." Don't look past this Paypal news. It will become a HUGE BTC billboard in due time, metaphorically and literally.

We may see the price of BTC take a hit as those with lots start spending more (and this has been discussed). But this Paypal news is going to for sure attract more buyers.

IAS

[Singlebyte]

Nice to see some good news come out!  We knew they would eventually cave in. Someone tell Peter Schiff!  Lol

[Beliathon]

[virtualdn]

Bitcoin can really reach 10k or more in the years to come folks...

[ifightformerkel]

When paypal accept bitcoin full, then we see prices over 100.000 Dollar for 1 Bitcoin.
Because we reach then millions of new buyers.

[nkocevar]

And everyone said it wouldnt happen.... Maybe paypal isnt so bad after all xD... Maybe its time to allocate more of my income to buying bitcoins... I foresee a jump

[ChuckBuck]

That chart is something else...Bitcoin is something else.

All it takes is some news, some whales buying, and off to the races!

Crazy moves.

[1Referee]

Fantastic news! This is huge for Bitcoin, people are panic buying at the moment.

[ifightformerkel]

What do you think will litecoin now also rise?

[EFFV]

This feeling reminds me of the last big Bitcoin rise... get ready.

[ChuckBuck]

What do you think will litecoin now also rise?

Looks it just did the same time BTC did.

Thought they unpaired awhile ago, but price and volume spikes of LTC are almost identical to BTC chart.

[farlack]

Already up over 10%

[arbitrage001]

Buy on rumor, sell on the news.

[gog1]

won't be able to break $460.  Time for another dump.

[farlack]

won't be able to break $460.  Time for another dump.

yup already dropping. The news is good, but its not altering and wont bring much attention to bitcoin.

[RodeoX]

I thought you guys were going to like this. 

[fragout]

What do you think will litecoin now also rise?

Not right away imo. People will be actually selling LTC and other Alts to get in on the BTC action

[Scottsdale]

Hold on to your tits!!!!! VROOOM!

[Fabrizio89]

Yes, well, I was expeting this. I dunno why people didn't start buying before the not so breaking news, they did say they had plans for Bitcoin.

[gog1]

I think the supply demand imbalance will be even worse - you've more people using coin for purchases creating downward pressure.  You may get a brief boost with speculative money buying - but still, what's the incentive for the average Joe to first go buy BTC, and then spend it vs just using his CC directly?

[stayeduptolate]

Yes, well, I was expeting this. I dunno why people didn't start buying before the not so breaking news, they did say they had plans for Bitcoin.

I think people just have to see things first

[giszmo]

how is litecoin (and other alts) doing? check http://crypto-coins-table.com . here the performance is measured relative to bitcoin, so the one day change of most alts is red right now.

[Kassenzettel]

Can i not get the paypal balance to bitcoins 

[gjgjg]

Anyone still nervous about apple ipay?

[pennywise]

I think the supply demand imbalance will be even worse - you've more people using coin for purchases creating downward pressure.  You may get a brief boost with speculative money buying - but still, what's the incentive for the average Joe to first go buy BTC, and then spend it vs just using his CC directly?

Well if one currency is being actively traded with and more and more entities recognize its value, it then at the same time becomes more secure store of value. And incentive for speculative buying also goes UP.

[Zombier0]

Finally we will go to the moon

[Kassenzettel]

So i could get my PAYPAL balance to bitcoins 

[9kv]

Jesus Christ, it just spiked $40 in a matter of an hour. I am really surprised that this partnership wasn't already factored in??

[mufa23]

Fuck yeah! And away we go!

[BTCbuisinessman]

this is fucking awesome! hope it gos even higher

[jbrnt]

It is great that PayPal finally accepts bitcoin. But how is it going to work? Are the bitcoin going to be dumped and converted to fiat and credit to users accounts? Can users receive and hold payment in bitcoin? We need more information on this payment hub thing.

[LiteCoinGuy]

Time to buy !

only an idiot buys AFTER the news 

You could have bought after the news and still buy before this rally started.

to be honest: i think you can buy at any time at this stage 

--------------

[TPN]

Only if I could dump my lifesavings 

[seriouscoin]

Fuck yeah! And away we go!

Damn i miss you, how have you been?

[cryptomad]

Can i buy bitcoins with Paypal then or just if are a merchant? Someone Pm me answer So i see reply.

[Lauda]

Well this was a long wait, Bitcoin deserved some better news finally.
There is quite some resistance before we get back to $500 or $600.
The news is still fresh though. Are any other websites reporting about it? Links?

[ChuckBuck]

Well this was a long wait, Bitcoin deserved some better news finally.
There is quite some resistance before we get back to $500 or $600.
The news is still fresh though. Are any other websites reporting about it? Links?

Here's a link from Forbes:

http://www.forbes.com/sites/ryanmac/2014/09/23/paypal-takes-small-step-toward-bitcoin-partners-with-cryptocurrency-processors/

Basically EBay head John Donahoe and Paypal head Scott Ellison are strategically starting with BTC payment for digital goods first as a test, before leaping headfirst into full blown Cryptocurrency integration into Ebay/Paypal marketplace and transactions.

Love it.

[BTCewdquestion]

This has been in the tubes for a few weeks now, largely rumors and vague announcement from paypal brain tree, apple pay, bank of england, other central banks. I am surprised, exactly as other saids, only idiot buy after the news. But the rumor sell the news is this phrase and this could be the truth for this.

The contrary, whales are smartly lined up and things are currently orderly in the market, run the price up, wait for supply of bitcoin to enter the market for sale, as the sell and create liquidity, whales can buy with with little price movement, however  eventually the supply runs outs, the price rallys and if things remain orderly they wait until more supply comes onto the exchange. Eventually less and less supply will hit the markets and the whales will need to ask themselves are they willing to dump millions into a $10,000 bitcoin or or just stop buying more than a few at $600

My bet, things get overheated for the short run and we see a MAJOR MAJOR MAJOR rally that make all bubbles in the history of man look small.

Do i spend my last $200 cash on bitcoin right now an run the risk of being a hog and getting slaughtered.

[blatchcorn]

Time to buy !

only an idiot buys AFTER the news 

You could have bought after the news and still buy before this rally started.

to be honest: i think you can buy at any time at this stage 

--------------

Here, here 

[Velkro]

WoW, this is huge news
Im suprised almost everyday with bitcoin adoption

[Barnikle]

Paypal needs to become a Bitcoin exchange. Then the sparks will really fly.

But regarding this news, it is pretty huge. This is no shock to any of us, but to the common man this means they are going to start seeing more BTC symbols in their daily purchases (shortly).
I remember when Paypal first came out and I thought "What a stupid name. What is this, some kind of payment service? Never heard of it." Don't look past this Paypal news. It will become a HUGE BTC billboard in due time, metaphorically and literally.

We may see the price of BTC take a hit as those with lots start spending more (and this has been discussed). But this Paypal news is going to for sure attract more buyers.

IAS

ha ha yes.

[Pcpoet]

This is very good news. BTC will go up up and up. THIS IS GREAT!

[WhatTheGox]

sweet

[mufa23]

Fuck yeah! And away we go!

Damn i miss you, how have you been?

Working hard IRL. And was under an NDA due to me suing a bitcoin company. Lawyer said I should keep my mouth shut, but was busy all this summer anyway. I'm sorta back now.

Kinda cool that someone misses me.

[BitCoinNutJob]

This is great news i think they also have plans to go full BTC soon.... never go full BTC

[niothor]

Well this was a long wait, Bitcoin deserved some better news finally.
There is quite some resistance before we get back to $500 or $600.
The news is still fresh though. Are any other websites reporting about it? Links?

I think over the long term it will lead to higher prices (from higher adoption) however I would speculate it would lead to lower prices in the short term as paypal sells the bitcoin they receive from customers

[BitCoinNutJob]

"To be clear, today’s news does not mean that PayPal has added Bitcoin as a currency in our digital wallet or that Bitcoin payments will be processed on our secure payments platform. PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers. Our approach to Bitcoin is no different. That’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop."

https://www.paypal-community.com/t5/PayPal-Forward/PayPal-and-Virtual-Currency/ba-p/828230


I think this means they are going to add it with customer wallets soon

[bitcoinstarter]

Time to buy!

[minimalB]

Wow, this is effin' HUGE!

[zorke]

Can i buy bitcoins with Paypal then or just if are a merchant? Someone Pm me answer So i see reply.

This was not addressed in the press release by PP, nor any of the articles posted by the media, but I would assume the answer would be no. The fact that PP transactions are reversible (and bitcoin transactions are effectively not) would open PP to too much risk. If someone was to scam someone and convert the funds into bitcin then PP would be left holding the bag.

[cryptomad]

Can i buy bitcoins with Paypal then or just if are a merchant? Someone Pm me answer So i see reply.

This was not addressed in the press release by PP, nor any of the articles posted by the media, but I would assume the answer would be no. The fact that PP transactions are reversible (and bitcoin transactions are effectively not) would open PP to too much risk. If someone was to scam someone and convert the funds into bitcin then PP would be left holding the bag.

Okay thanks for the information

[beetcoin]

i think the point of this development is that it's good news AND it has positively affected the price.

[redhawk979]

Giant leaps of logic to assume PayPal is actually doing anything directly with Bitcoin as opposed to being on the sidelines. BitPay is still doing the processing.

https://www.paypal-community.com/t5/PayPal-Forward/PayPal-and-Virtual-Currency/ba-p/828230

To be clear, today’s news does not mean that PayPal has added Bitcoin as a currency in our digital wallet or that Bitcoin payments will be processed on our secure payments platform. PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers. Our approach to Bitcoin is no different. That’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop.

[H.W.Z]

Really good news for BTC. But what I concerned is that whether it will push buying activities more than selling in the long run. Or it is just for the speculators to buy in the rumors and sell on the news.

[hua_hui]

Buy on rumor, sell on the news.

Too late now. After the news came out, many people regretted they didn't buy before the news. Everyone knows this concept but rarely has courage to apply to real situation.

[montreal]

its incredible to think how much growth and progress has been made this past year alone. almost difficult to imagine where bitcoin could be in another couple years.

[Nirav l]

is there a timeline?

[btbrae]

This is a bit more solid from Paypal.

[cbeast]

In future news: Bitpay buys PayPal.

[mufa23]

In future news: Bitpay buys PayPal.

Before 2025. Honestly though, I've seen a lot of Bitcoin companies come and go. I doubt BitPay will even be around in 11 years. But I don't doubt another bitcoin related company will buy out Paypal before 2025.

[OrientA]

"To be clear, today’s news does not mean that PayPal has added Bitcoin as a currency in our digital wallet or that Bitcoin payments will be processed on our secure payments platform. PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers. Our approach to Bitcoin is no different. That’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop."

https://www.paypal-community.com/t5/PayPal-Forward/PayPal-and-Virtual-Currency/ba-p/828230

I think this means they are going to add it with customer wallets soon

It is just the first step. If it is successful, they will integrate more service.

[CryptoCarmen]

Really good news for BTC. But what I concerned is that whether it will push buying activities more than selling in the long run. Or it is just for the speculators to buy in the rumors and sell on the news.

yes good news usually push price down

[OrientA]

In future news: Bitpay buys PayPal.

Before 2025. Honestly though, I've seen a lot of Bitcoin companies come and go. I doubt BitPay will even be around in 11 years. But I don't doubt another bitcoin related company will buy out Paypal before 2025.

If Paypal adopts BTC and become a payment processor, it will become a much bigger company. It might buy Bitpay, instead of other way around.

[letyouearn]

That's a Really Great News.

[Lauda]

In future news: Bitpay buys PayPal.

Before 2025. Honestly though, I've seen a lot of Bitcoin companies come and go. I doubt BitPay will even be around in 11 years. But I don't doubt another bitcoin related company will buy out Paypal before 2025.

If Paypal adopts BTC and become a payment processor, it will become a much bigger company. It might buy Bitpay, instead of other way around.

If Bitpay gets sold to Paypal we will be nearing the end of Bitcoin days.

[ChuckBuck]

In future news: Bitpay buys PayPal.

Before 2025. Honestly though, I've seen a lot of Bitcoin companies come and go. I doubt BitPay will even be around in 11 years. But I don't doubt another bitcoin related company will buy out Paypal before 2025.

If Paypal adopts BTC and become a payment processor, it will become a much bigger company. It might buy Bitpay, instead of other way around.

If Bitpay gets sold to Paypal we will be nearing the end of Bitcoin days.

What makes you think Gallippi would sell to Paypal?  They just entered into an agreement recently, and he's been instrumental in the growth of Bitcoin.  I don't think his soul could be sold that quick, considering all that he's put into it.

[Dr. Pepper]

Damn, everytime I see a new thread about bitcoin and Paypal I'm really hoping it's the news we've all been waiting for, but sadly it is always disappointing. Don't get me wrong it's a step in the right direction, but we need them to go all the way.

[superresistant]

Damn, everytime I see a new thread about bitcoin and Paypal I'm really hoping it's the news we've all been waiting for, but sadly it is always disappointing. Don't get me wrong it's a step in the right direction, but we need them to go all the way.

Come on, it's one of the best news of the year concerning Bitcoin !

[arbitrage001]

Anyone still nervous about apple ipay?

Paypal is just positioning themselves to compete with iPay, which I don't think it can help them much unless paypal lower their fee drastically.

[naztykoyn]

Come on, it's one of the best news of the year concerning Bitcoin !

Yes it is! After how many years of speculation. Its actually here now!

[RodeoX]

On Point, the NPR radio show is discussing mobile payments. Give them a call and let them know that Apple pay is not the big story!

1-800-423-8255

Or tweet @onpointradio

[Lauda]

If Bitpay gets sold to Paypal we will be nearing the end of Bitcoin days.

What makes you think Gallippi would sell to Paypal?  They just entered into an agreement recently, and he's been instrumental in the growth of Bitcoin.  I don't think his soul could be sold that quick, considering all that he's put into it.

You got it wrong here. I'm not thinking that, I was just quoting them.
Selling your company is one thing, selling it to Paypal is something else (bitcoin related). I hope that Bitpay never sells to anyone though.
Let's see if we can recover to $500 soon.

[Stifler]

Damn, everytime I see a new thread about bitcoin and Paypal I'm really hoping it's the news we've all been waiting for, but sadly it is always disappointing. Don't get me wrong it's a step in the right direction, but we need them to go all the way.

Come on, it's one of the best news of the year concerning Bitcoin !

*Checks price* Not according to that is isn't  . I do agree with you though, but I just think the bitcoin community has become pretty cynical on a whole. We really do need Paypal to fully integrate bitcoin payments though. I could see them trying to buy Bitpay. Makes sense.

[Serge]

If Bitpay gets sold to Paypal we will be nearing the end of Bitcoin days.

What makes you think Gallippi would sell to Paypal?  They just entered into an agreement recently, and he's been instrumental in the growth of Bitcoin.  I don't think his soul could be sold that quick, considering all that he's put into it.

You got it wrong here. I'm not thinking that, I was just quoting them.
Selling your company is one thing, selling it to Paypal is something else (bitcoin related). I hope that Bitpay never sells to anyone though.
Let's see if we can recover to $500 soon.

Paypal's heavily invested and support Bitpay with their venture capital Founder's Fund (may have gotten fund's name wrong) since a year or two now.

[Reynaldo]

I didn't even know about Bitpay.. seems a really nice site to get local companies to get on the BTC train and never doubt that they might sell their selfs to paypal.. in the end people eyes are just BTC BTC or $US $US

[farlack]

In future news: Bitpay buys PayPal.

Before 2025. Honestly though, I've seen a lot of Bitcoin companies come and go. I doubt BitPay will even be around in 11 years. But I don't doubt another bitcoin related company will buy out Paypal before 2025.

If Paypal adopts BTC and become a payment processor, it will become a much bigger company. It might buy Bitpay, instead of other way around.

If Bitpay gets sold to Paypal we will be nearing the end of Bitcoin days.

What makes you think Gallippi would sell to Paypal?  They just entered into an agreement recently, and he's been instrumental in the growth of Bitcoin.  I don't think his soul could be sold that quick, considering all that he's put into it.

Is this a joke? Microsoft just bought Minecraft for 2.5 billion dollars. Tech companies are buying up everything that will turn a profit.

If you're offered $2.5 billion for bitpay you would be foolish to not sell. Granted its possible bitpay will produce more in the long run, but there isn't a guarantee that bitcoin will be around in the long run. And you could just dump $1.5 billion into bitcoin, and in the long run still make more than owning bitpay.

[beetcoin]

In future news: Bitpay buys PayPal.

Before 2025. Honestly though, I've seen a lot of Bitcoin companies come and go. I doubt BitPay will even be around in 11 years. But I don't doubt another bitcoin related company will buy out Paypal before 2025.

If Paypal adopts BTC and become a payment processor, it will become a much bigger company. It might buy Bitpay, instead of other way around.

If Bitpay gets sold to Paypal we will be nearing the end of Bitcoin days.

What makes you think Gallippi would sell to Paypal?  They just entered into an agreement recently, and he's been instrumental in the growth of Bitcoin.  I don't think his soul could be sold that quick, considering all that he's put into it.

Is this a joke? Microsoft just bought Minecraft for 2.5 billion dollars. Tech companies are buying up everything that will turn a profit.

If you're offered $2.5 billion for bitpay you would be foolish to not sell. Granted its possible bitpay will produce more in the long run, but there isn't a guarantee that bitcoin will be around in the long run. And you could just dump $1.5 billion into bitcoin, and in the long run still make more than owning bitpay.

yeah, i agree with that much.. who wouldn't take 2.5 billion? if you own a large share, say 40% stake, that's a shitload of money.. and there's no risk when you have billions in your bank account. becoming pervasive is not a sure thing for someone like bitpay.

i can understand why mark zuckerberg didn't sell out though - facebook's model was too big to fail.

[ChuckBuck]

Who wouldn't turn down big money?

Snapchat, anyone?  I think they turned down $3 Billion from Facebook.  Does it make him fool, maybe.

http://mashable.com/2014/01/06/snapchat-facebook-acquisition-2/

Proof right there, that not everyone is out for the quick buck.  Watch the HBO series "Silicon Valley" to get the whole gist of the tech conundrum of selling or holding onto "your baby", your project, your IP.  Sometimes that outweighs that cash in.  "Aviato" anyone?

[Schwarzalbert]

http://www.coindesk.com/paypal-announces-first-partnerships-bitcoin-space/

Time to rally!

Bump!! Time to come back to older heights!

[professionalboatmisser]

You guys really think you are having an impact on BTC prices by bumping this thread? lol. In any case, great news, wicked, but let's watch and see. Success will be measured by price (obvious) but by how many ebay merchants addopt BTC as well.

[ariyaromadhona]

The decline in the Bitcoin price brought with it fear, speculation and an opportunity for miners and investors alike. The temporary and tiny Bitcoin price crash enticed new investors to come into the market while the price was down. The Paypal announcement offers a quick return – it should be noted that the Bitcoin trading exchanges are not regulated and insider trading can easily occur. All we know for sure is that large sums of Bitcoin were bought on open exchanges. It is entirely possible that whales seized this opportunity to eat into sell walls and cause the Bitcoin price to surge

[DaveSaldana123]

Coolest news in 2014.. I guess.

[BrunesBTC45]

Good thing that this happens. But, will this be a big help for bitcoin users? especially with apple pay?

[moriartybitcoin]

Bitcoin is set for a HUGE RALLY folks

[philiveyjr]

BTC r ready for homecoming!!! Woohooo!

[OrientA]

BTC r ready for homecoming!!! Woohooo!

Just be patient.