Paypal Accepting Bitcoin Payments!?!?!?!?!?!

[aacoins]

This is not a scam thread I swear to damn.

Just click here:
https://www.braintreepayments.com/

Braintree a company wholly owned by paypal is Allowing you to accept payments from Applepay, Paypal, and BITCOINS

They seem to be allowing coinbase integration. So does this mean that logging into your paypal/ebay page and topping up your account with bitcoins is going to be the new thing?

I'm not a big fan of paypal but to see someone who has adamantly fought the rise of bitcoins every step of the way now accepting them at least through one of their venues is unreal to me.

 

[1715379973]

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[1715379973]

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[calme]

No transaction fees on your first $50k. Cool and thanks for posting.

[PenguinFire]

The title of this thread literary made me want to end my life. 

I am just kidding.  No one should end their life.  haha 

[aacoins]

The title of this thread literary made me want to end my life. 

I am just kidding.  No one should end their life.  haha 

I was literaly just like what the fuck spam links on Wired.com but it was actually a link to brain tree and I almost did a spit take which would have ruined my laptop (Redbull does not give your lapatop wings I promise)

No transaction fees on your first $50k. Cool and thanks for posting.

Yeah pretty neat, definitely going to be doing my research I would love to try doing something with the v.ZERO sdk, might sign up just to play with it.

[colinistheman]

"2.9% + $.30 per transaction" for all payment methods?

Talk about shitting in the face of Bitcoin.

That removes all the benefit and Braintree takes all that as profit.

[aacoins]

"2.9% + $.30 per transaction" for all payment methods?

Talk about shitting in the face of Bitcoin.

That removes all the benefit and Braintree takes all that as profit.

Well they are using coinbase for there integration so coinbase charges 1% they charge 1% then they take the addtional 0.9% for all of the customer service they are going to have to do and 30 cents/tx covers there server/power/other associated costs.

Don't get me wrong they will make a killing off of this if it goes mainstream but at the same time for a "non bitcoin payment service" to use bitcoin these are the fees they are used to, so they will continue to charge them.

[amiryaqot]

it seems they are run by legit company Paypal, transaction fees are not much to get paypal for bitcoins,
thanks for sharing this post i just made my account there and will make a test transaction there let's see how it goes.

[12345mm]

cool ... so i can use bitcoin and get raped for 3% for the privilege ... or i can just pay for shit with *money* from my bank account through paypal and pay 0% ... tough call ...

[franky1]

fee's are not the problem, after all on most days there is a difference of more than 3% between exchanges.

for instance right now
BTC-e        253.00 USD
OKCoin.com    254.17 USD
Bitfinex            255.80 USD
Bitstamp        256.33 USD
LocalBitcoins    290.31 USD

so if you bought off localbitcoins.com you would complain that there was a 12% fee compared to btc-e
so if you bought off bitstamp.com you would complain that there was a 1.3% fee compared to btc-e

and thats just treating the spot spread as a fee before you even include the actual service fee.

[aacoins]

cool ... so i can use bitcoin and get raped for 3% for the privilege ... or i can just pay for shit with *money* from my bank account through paypal and pay 0% ... tough call ...

I don;t think you understand. As a merchant you are selling a computer for $100 on your website coolstufflikethis100dollarcomputer.com

You offer to sell your computer through paypal:
User spends $100 paypal charges 2%+ 0.15 fee* You get 97.85 USD
You offer to sell your computer through Authorize.net's official credit portal
User spend $100 authorize charge 1.9% +0.3 fee* You get 97.80 USD
You offer to sell your computer through coinbase
User spends $100 coinbase charges 1% fee you get 99 USD

So no matter what you use there's going to be a fee, now you could mitigate this by installing the cheapest credit card processor on your website, paypal directly, venmo directly, integrating with apple pay directly, integrating with coinbase directly(or even using your own standalone bitcoind baring the risk of getting hacked) to save the most money or you could just install a few lines of code and have all of those things ready to roll.

I'm not advertising for braintree or paypal just saying this is what happens everyday albeit they cost more but you get more in less time and time is money.

(Also half or more of what braintree colects has to go to their third party processors for each payment option anyway so)

*Fee's guestimated

[Lauda]

"2.9% + $.30 per transaction" for all payment methods?

Talk about shitting in the face of Bitcoin.

That removes all the benefit and Braintree takes all that as profit.

Simple pricing with no monthly fees or minimums. PayPal and Coinbase are charged differently.

So not quite, but still, it is something. This is good news in any way, doesn't necessarily mean that people will start using this service though.
The fees for Bitcoin transactions should be much lower if this were to make any sense,but it's their call after all. Imagine 2.9% on 10k, 20k, 50k ect.

[12345mm]

merchants have fees for processing digital payments ... ok ... fine ... that cuts into their profit margin , sure ... and people are lazy and want turn key solutions , check ... sounds about right from business perspective ... but as a *consumer* like most people are , who don't own their own multinational conglomerate , the choice between paying extra and not paying extra is a pretty easy choice ... as a merchant , choosing between letting paypal fuck you over for a couple % , or choosing bitcoin payment processors to fuck your customers over for a couple additional % , why not let the buyers take the fee instead of you , right ? ... god i fucking hate living on this planet ...

[calme]

You could always buy a spaceship. You might need to use PayPal and pay the fee, though. Then you just have to convince them at the new planet that your money is the true money.

[aacoins]

merchants have fees for processing digital payments ... ok ... fine ... that cuts into their profit margin , sure ... and people are lazy and want turn key solutions , check ... sounds about right from business perspective ... but as a *consumer* like most people are , who don't own their own multinational conglomerate , the choice between paying extra and not paying extra is a pretty easy choice ... as a merchant , choosing between letting paypal fuck you over for a couple % , or choosing bitcoin payment processors to fuck your customers over for a couple additional % , why not let the buyers take the fee instead of you , right ? ... god i fucking hate living on this planet ...

No don't get me wrong I completly agree with your above statement. but it's the same way with everything in life.

As a consumer I go to walamart and a mom and pop grocery store and buy the exact same thing.
Walmart is going to be about 15% cheaper:
6+% Quantity discounts on sales items
1-2% Quantity discount on payment processor
And the rest is contributed to labor and business expenses that a larger company can write off in the millions of dollars in income they are making compared to a store making <40k/week total sales.

Same for bitcoin sites. Go to a site that uses coinbase exclusively and a site that uses braintree and your looking at paying on average 1.9% more for the same thing.
So I agree the consumer eats the cost but that's just the way the cookie crumbles

[12345mm]

i've seriously considered suicide or some sort of exile / monastic living in a remote corner of earth rather than continue to live in the capitalist industrial world ... i'm not kidding when i say i fucking hate living on this planet ... likely i'll eventually live in a remote off-grid cabin or a blue water sailboat to satisfy my demands for not being exploited in my daily life , producing all of my own electricity and food/water in either case ... i'd live on mars in a heartbeat ...

[innocent93]

Yes, Braintree you are talking about is a subsidiary company owned by paypal accepts Bitcoin, I remember this is a old news from last summer.

And Braintree accepting Bitcoin is not equal to Paypal accepting Bitcoin, they are different companies.

[aacoins]

Yes, Braintree you are talking about is a subsidiary company owned by paypal accepts Bitcoin, I remember this is a old news from last summer.

And Braintree accepting Bitcoin is not equal to Paypal accepting Bitcoin, they are different companies.

I agree to an extent braintree taking bitcoin is not paypal taking bitcoin but at the same time when their listed agent is PAYPAL it means that paypal is in one way shape or form accepting bitcoin.

And 2 it just happened in January https://www.braintreepayments.com/blog/coinbase-private-beta So if it is fro last year it has not been active until <60 days

[Amph]

they said they are waiting for more security option before accepting it, they are on track, adding 2fa will be the next step before accepting bitcoin as a payment

there was another thread talking about this

[Q7]

That's great. Talk about the fees, I don't think it's an issue at all. Never mind if it's through Braintree and not Paypal because eventually it is still the same. And no matter what we just can't escape from the fees. If we compare that by accepting credit card payment, that is even worse. So for that few percent of difference and at the same time help to promote bitcoin, overall I think that is still good enough.

[Balls]

They seem to be allowing coinbase integration. So does this mean that logging into your paypal/ebay page and topping up your account with bitcoins is going to be the new thing?

Probably not. Until I see some actual proper implementation by Paypal and not some subsidary this isn't really anything to get excited about in my opinion.

I'm not a big fan of paypal but to see someone who has adamantly fought the rise of bitcoins every step of the way now accepting them at least through one of their venues is unreal to me.

Who has thought the rise of bitcoin? Paypal?

they said they are waiting for more security option before accepting it, they are on track, adding 2fa will be the next step before accepting bitcoin as a payment

there was another thread talking about this

That's funny. Paypal isn't any more secure than bitcoin. At least I know I'm not going to sell something then get a chnargeback a few days later with bitcoin.