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Author Topic: Why is Paypal accepting Bitcoin a good thing?  (Read 3122 times)
BlitzandBitz
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September 27, 2014, 06:43:19 PM
 #21

It helps with the mainstreaming of btc so it is good
Obviously, the dream is that one day cryptos will replace PP, we will see about that

I doubt that will happen because if it starts to PayPal will make a huge fight out of it and that's not going to be the best fight for bit coin.
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lucasjkr
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September 28, 2014, 12:55:30 AM
 #22

Simple. A website owner who uses solely PayPal for payment processing can now accept bank debits, MasterCard, visa, Amex and bitcoin with not a single line of code changed on their site. All of a sudden millions of new sites could theoretically begin accepting bitcoin without even thinking about it*


* except right now! my understanding is that PayPal will only let people pay in bitcoins for digital goods and services. But should that go off without a hitch, they'll likely broaden the range of items that BTC can be used for.


Ultimately, though, the big news about it isn't so much paypal itself, it's that the millions of vendors who rely on them can or will eventually accept BTC
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September 28, 2014, 02:07:34 AM
 #23

it is a good thing because it can be used in many places and it will more acknowledged



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September 28, 2014, 03:32:13 AM
 #24

Bringing it to the masses has to be a good thing doesn't it?
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September 28, 2014, 05:25:01 AM
 #25

currently I still use both, bitcoin or paypal, as there are many systems also use paypal payment, bitcoin as a new payment system, not so many that use it, possibly in the next few years bitcoin could be a global payment system such as PayPal, or it could be paypal later collaborated with bitcoin in a payment system ... hopefully ...  Grin

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sandykho47
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September 28, 2014, 06:23:07 AM
 #26

Because if big company accept bitcoin
Some people who use the service will accept bitcoin too  Grin

In past, some paypal accounts gets frozen because people use it to trade BTC, that will not happen again because PP and BTC are friends now.

I hope the paypal accounts not frozen  Smiley

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September 28, 2014, 07:23:39 AM
 #27

In past, some paypal accounts gets frozen because people use it to trade BTC, that will not happen again because PP and BTC are friends now.

Also, I'm wondering how will this change their policy of not buying cryptocurrencies wit PP + chargeback issues. All the scam issues will be gone now?
I don't think they will change this policy. They will probably only allow for bitcoin to be used to buy things on PP, not for PP $ to be used to buy BTC. (I know this is ironic)

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September 28, 2014, 01:25:32 PM
 #28

I really want to know, whats so good about PP accepting BTC?
Everything! Now I can buy something cool by using PayPal and my Bitcoins!
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September 28, 2014, 02:30:44 PM
 #29

I really want to know, whats so good about PP accepting BTC?
Everything! Now I can buy something cool by using PayPal and my Bitcoins!

better anonymity also, unless paypal do something about your transaction, i don't know how it work for this thing



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September 28, 2014, 03:34:30 PM
 #30

I really want to know, whats so good about PP accepting BTC?
Everything! Now I can buy something cool by using PayPal and my Bitcoins!

better anonymity also, unless paypal do something about your transaction, i don't know how it work for this thing

I would say it rather decreases the level of anonymity. If PayPal associates the address from which you sent the BTC to your PP account, then they know it is your sending address and hence your email and other PP account information. Theoretically they could then associate other addresses with your wallet.

It's still going to be a good "marketing" for bitcoin though, at lest I imagine so.
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September 28, 2014, 06:11:05 PM
 #31

Has anyone purchased with bitcoin via paypal yet?

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September 28, 2014, 06:37:00 PM
 #32

I hope its a good thing, paypal and crypto.
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September 29, 2014, 03:35:51 AM
 #33

I really want to know, whats so good about PP accepting BTC?
Everything! Now I can buy something cool by using PayPal and my Bitcoins!

better anonymity also, unless paypal do something about your transaction, i don't know how it work for this thing

I would say it rather decreases the level of anonymity. If PayPal associates the address from which you sent the BTC to your PP account, then they know it is your sending address and hence your email and other PP account information. Theoretically they could then associate other addresses with your wallet.

It's still going to be a good "marketing" for bitcoin though, at lest I imagine so.
If you use bitcoin in a way that would maximize your anonymity (only use an address one time) then PP would not be able to associate any of your other addresses with your identity as they would have no real way of knowing which address belongs to you and which addresses belongs to the person you "sent" the bitcoin to

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October 03, 2014, 04:18:35 AM
 #34

“I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world." - Peter Thiel, Co-Founder of Paypal

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October 03, 2014, 05:19:30 AM
 #35

They have the largest user base of online payment systems and can act as a medium/escrow, which is what Bitcoin lacks from a consumer point of view. Although right now their payment hub is restricted to virtual items for what I understood.

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October 03, 2014, 05:38:31 AM
 #36

I really want to know, whats so good about PP accepting BTC?
Everything! Now I can buy something cool by using PayPal and my Bitcoins!

better anonymity also, unless paypal do something about your transaction, i don't know how it work for this thing

I would say it rather decreases the level of anonymity. If PayPal associates the address from which you sent the BTC to your PP account, then they know it is your sending address and hence your email and other PP account information. Theoretically they could then associate other addresses with your wallet.

It's still going to be a good "marketing" for bitcoin though, at lest I imagine so.

in the bright side it makes your purchases legal but who knows what will paypal do next in their plan
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October 07, 2014, 02:13:18 AM
 #37

paypal or bitcoin both have advantages and disadvantages, advantages and paypal can bitcoin transactions through the virtual world, where distance is no longer a problem, while the lack of paypal there is always a fee or tax when we want to withdraw into our currency, while bitcoin always can be used to buy goods without paying taxes on the transaction ...  Grin
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October 07, 2014, 02:31:43 AM
 #38

Yeah, like the other poster said, it makes Bitcoin seem more legit and moves it away from the idea that Bitcoin is used by drug dealers, Terrorists groups, arms dealers.
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October 07, 2014, 12:55:41 PM
 #39

Yeah, like the other poster said, it makes Bitcoin seem more legit and moves it away from the idea that Bitcoin is used by drug dealers, Terrorists groups, arms dealers.
Very true. Paypal doesn't really have a use for us, but it will make the public happier and more enthusiastic about bitcoin.

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October 07, 2014, 02:25:02 PM
 #40

Yeah, like the other poster said, it makes Bitcoin seem more legit and moves it away from the idea that Bitcoin is used by drug dealers, Terrorists groups, arms dealers.
Very true. Paypal doesn't really have a use for us, but it will make the public happier and more enthusiastic about bitcoin.

Actually a bad thing to associate Paypal name with bitcoin.

All merchants know Paypal days are numbered whether they will adopt bitcoin or not.
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