PayPal now lets shops accept Bitcoin

[gonnafly]

Read very positive news on CNN:

"This week, the payment processing company PayPal took its first venture into the world of all-digital money. Merchants that work with eBay's PayPal can now easily start accepting payments from customers that use Bitcoin, an independent, government-less currency.
PayPal struck a deal with three Bitcoin payment-processing companies: BitPay, Coinbase and GoCoin."

http://money.cnn.com/2014/09/26/technology/paypal-bitcoin/index.html

[huoiuu]

Why bitcoin price  is still felling?

[Balls]

Merchants that work with eBay's PayPal can now easily start accepting payments from customers that use Bitcoin

Is this actually true though? I knew they have implemented it in some fashion, but is it as simple as any merchant that accepts PP can now take BTC too? Why can't we use it on ebay yet?

Why bitcoin price  is still felling?

Falling. You should no buy now that good news doesn't really make the price shoot up anymore.

[vipgelsi]

Paypal is great for bitcoin.

[GTA]

WTF is money.

[bambino]

WTF is money.

Money is basically favor vouchers. You do something for someone and they give you some item (gold, seashell, signed piece of paper, etc.) that society agrees gives you the right to call in that favor owed to you, but the cool thing is it doesn't even have to be from the person you did the original favor for.

The way Bitcoin works is instead of actually passing around gold or pieces of paper to record who did what for whom, a globally synchronized accounting ledger records this data in a cryptographically secure way. Since no tokens have to be physically transported, it is global and fast. But since no central authority controls it, it cannot be politically messed with, inflated, confiscated remotely, etc.

It's like gold that weighs nothing, that you can carry in your brain without anyone knowing, and that you can teleport anywhere in the world for a tiny fee or even no fee. You can do this with a few cents or a few million dollars just the same way.

[Robin_Good]

Doesn't this defeat the purpose of Bitcoin? I thought the idea was to take out all the middlemen (CC companies, PayPal, etc) who skim a percentage of each transaction for themselves.

[logger]

Doesn't this defeat the purpose of Bitcoin? I thought the idea was to take out all the middlemen (CC companies, PayPal, etc) who skim a percentage of each transaction for themselves.

Sort of. Remember, though, that Bitcoin can and does still benefit from 3rd party services such as escrow. The largest benefit to BTC as a currency is its "push" system, rather than "pull".

http://gendal.wordpress.com/2013/10/21/lessons-from-bitcoin-push-versus-pull/

[NotAtOld]

Doesn't this defeat the purpose of Bitcoin? I thought the idea was to take out all the middlemen (CC companies, PayPal, etc) who skim a percentage of each transaction for themselves.

Sort of. Remember, though, that Bitcoin can and does still benefit from 3rd party services such as escrow. The largest benefit to BTC as a currency is its "push" system, rather than "pull".

http://gendal.wordpress.com/2013/10/21/lessons-from-bitcoin-push-versus-pull/

If you think this is somehow not good for bitcoin, you are SORELY MISTAKEN.

[sifter]

I thought paypal accepting bitcoin would at leas bump the price, right now the average is sitting at $381.64

[Bitcoin Magazine]

maybe we can buy nice things off ebay in the future with bitcoin.  but for now.  FIAT baby!!!

[ruggedman_dan]

I do not see how PayPal can improve Bitcoin. Bitcoin is better in every way. All PayPal has is name value.

Someone enlighten me.

[redsn0w]

I do not see how PayPal can improve Bitcoin. Bitcoin is better in every way. All PayPal has is name value.

Someone enlighten me.

Bitcoin is the future , paypal is the present . Together are ..... I don't know what are they ?

[coindetective]

Hell yes.
This is excellent news for coin.

Something major s wrong with this. This is HUGE news for BTC. Yet the price goes down. Really do not understand the market anymore.

[cccarnation]

WTF is money.

Money is basically favor vouchers. You do something for someone and they give you some item (gold, seashell, signed piece of paper, etc.) that society agrees gives you the right to call in that favor owed to you, but the cool thing is it doesn't even have to be from the person you did the original favor for.

The way Bitcoin works is instead of actually passing around gold or pieces of paper to record who did what for whom, a globally synchronized accounting ledger records this data in a cryptographically secure way. Since no tokens have to be physically transported, it is global and fast. But since no central authority controls it, it cannot be politically messed with, inflated, confiscated remotely, etc.

It's like gold that weighs nothing, that you can carry in your brain without anyone knowing, and that you can teleport anywhere in the world for a tiny fee or even no fee. You can do this with a few cents or a few million dollars just the same way.

Exactly. Money is so important to most people, that a lot of folks can't wrap their head around the fact, that the entire system is based on nothing other than trust.

[Bitcoin Magazine]

I do not see how PayPal can improve Bitcoin. Bitcoin is better in every way. All PayPal has is name value.

Someone enlighten me.

Bitcoin is the future , paypal is the present . Together are ..... I don't know what are they ?

money to buy that mouse for 3.99

[littlebeetle]

WTF is money.

Money is basically favor vouchers. You do something for someone and they give you some item (gold, seashell, signed piece of paper, etc.) that society agrees gives you the right to call in that favor owed to you, but the cool thing is it doesn't even have to be from the person you did the original favor for.

The way Bitcoin works is instead of actually passing around gold or pieces of paper to record who did what for whom, a globally synchronized accounting ledger records this data in a cryptographically secure way. Since no tokens have to be physically transported, it is global and fast. But since no central authority controls it, it cannot be politically messed with, inflated, confiscated remotely, etc.

It's like gold that weighs nothing, that you can carry in your brain without anyone knowing, and that you can teleport anywhere in the world for a tiny fee or even no fee. You can do this with a few cents or a few million dollars just the same way.

Should be required reading for anyone who uses money.

[Febo]

I do not see how PayPal can improve Bitcoin. Bitcoin is better in every way. All PayPal has is name value.

Someone enlighten me.

Bitcoin is the future , paypal is the present . Together are ..... I don't know what are they ?

Maybe BitPals?

[commandrix]

So I was just bugging my web host (which accepts PayPal) about possibly accepting Bitcoin. Does this mean that I can just use Bitcoin to pay for hosting using the Paypal system to make sure they get the money anyhow? Or do the shops that accept PayPal have to do something special to accept Bitcoin too? If that's the case, they might as well just accept Bitcoin on their own...

[bigasic]

I have given up trying to figure out why bitcoin keeps falling even though there is so much good news about it. If apple had 1/2 the news like bitcoin does, their stock would double...