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Topic: [2017-12-12]EBay is talking about adding Bitcoin payments - page 2. (Read 1575 times)

hero member
Activity: 1680
Merit: 655
They're too late. The jokes on them. Bitcoin is no longer a payment system. You can't buy stuff with it anymore because now it's a "store of value". Wink
Agreed considering that the buyer will incur additional cost when they prefer or choose Bitcoin payments over Paypal in which won't be a smart move for the Buyer. As an Ebay Shopper myself I won't even use my Bitcoin to pay goods as like what I said the transfer fee will be shouldered by me the buyer. If the Lightning Network will have good effects on Bitcoin in terms of how fast it will transfer and how cheap it will be then it is the time for Ebay to accept Bitcoin.
legendary
Activity: 4466
Merit: 3391
They're too late. The jokes on them. Bitcoin is no longer a payment system. You can't buy stuff with it anymore because now it's a "store of value". Wink

You don't really need a 10-minute confirmation do you? Give it a half day and you can drop the fees 7 or 8-fold. If people can load their accounts with BTC, I don't see on-chain payments as a big problem right now.

It can also be tempting to spend some of those bitcoin profits. Isn't that how the hodlers roll--never sell, hold until you can spend it? Not sure how much business eBay does, but if Amazon were to enter the foray, I think it would generate a lot of profit taking.

By the time they implement it as a payment system, the Lightning Network might be in place and the scaling will be ready to handle that kind of load. Bitcoin in it's current state, will not be able to handle transaction volumes that eBay would bring to the network. Not even BCrash will be able to handle that kind of load. {..but Roger Ver will tell people that it will be possible}

Saying that the problem of transaction volume will soon be solved by the Lightning Network is like saying the traffic problem will soon be solved by flying cars.

A specification for LN has now been released, and they've done mainnet transactions. How far off do you think we are? A year, two? Realistically, the next big step is building publicly available wallets.

A year or two seems reasonable for proof-of-concept. Building LN wallets is a big step, but don't forget that most wallets still don't do segwit yet, and then building up the network of LN nodes is another hurdle, as well as getting people to use LN.
legendary
Activity: 4466
Merit: 3391
They're too late. The jokes on them. Bitcoin is no longer a payment system. You can't buy stuff with it anymore because now it's a "store of value". Wink

What if I told you that it was a store of value all the time? Bitcoin is not superior to credit cards or Paypal
as a payment system, but it is superior to fiat currencies due to its unique monetary policy and censorship resistance.

The talk of "micropayments for the 3rd world" and "easy online payments" was just marketing or people, who misunderstood
the core purpose of Bitcoin. The world needs sound money more than yet another payment solution.

I would say that you are confused and that you (like many others) seem desperate for something to justify your devotion to Bitcoin. If there is nothing to give bitcoins value, then there is no value to store. Sure, Bitcoin can be a store of value simply because people agree that it is a store of value, but they also need to agree on the value that it stores. That is where bitcoin is going to run into trouble.
hero member
Activity: 756
Merit: 502
CryptoTalk.Org - Get Paid for every Post!
They're too late. The jokes on them. Bitcoin is no longer a payment system. You can't buy stuff with it anymore because now it's a "store of value". Wink

You don't really need a 10-minute confirmation do you? Give it a half day and you can drop the fees 7 or 8-fold. If people can load their accounts with BTC, I don't see on-chain payments as a big problem right now.

It can also be tempting to spend some of those bitcoin profits. Isn't that how the hodlers roll--never sell, hold until you can spend it? Not sure how much business eBay does, but if Amazon were to enter the foray, I think it would generate a lot of profit taking.

By the time they implement it as a payment system, the Lightning Network might be in place and the scaling will be ready to handle that kind of load. Bitcoin in it's current state, will not be able to handle transaction volumes that eBay would bring to the network. Not even BCrash will be able to handle that kind of load. {..but Roger Ver will tell people that it will be possible}

Saying that the problem of transaction volume will soon be solved by the Lightning Network is like saying the traffic problem will soon be solved by flying cars.

A specification for LN has now been released, and they've done mainnet transactions. How far off do you think we are? A year, two? Realistically, the next big step is building publicly available wallets.
sr. member
Activity: 658
Merit: 282
They're too late. The jokes on them. Bitcoin is no longer a payment system. You can't buy stuff with it anymore because now it's a "store of value". Wink

What if I told you that it was a store of value all the time? Bitcoin is not superior to credit cards or Paypal
as a payment system, but it is superior to fiat currencies due to its unique monetary policy and censorship resistance.

The talk of "micropayments for the 3rd world" and "easy online payments" was just marketing or people, who misunderstood
the core purpose of Bitcoin. The world needs sound money more than yet another payment solution.

legendary
Activity: 4466
Merit: 3391
They're too late. The jokes on them. Bitcoin is no longer a payment system. You can't buy stuff with it anymore because now it's a "store of value". Wink

By the time they implement it as a payment system, the Lightning Network might be in place and the scaling will be ready to handle that kind of load. Bitcoin in it's current state, will not be able to handle transaction volumes that eBay would bring to the network. Not even BCrash will be able to handle that kind of load. {..but Roger Ver will tell people that it will be possible}

Saying that the problem of transaction volume will soon be solved by the Lightning Network is like saying the traffic problem will soon be solved by flying cars.
legendary
Activity: 1904
Merit: 1074
They're too late. The jokes on them. Bitcoin is no longer a payment system. You can't buy stuff with it anymore because now it's a "store of value". Wink

By the time they implement it as a payment system, the Lightning Network might be in place and the scaling will be ready to

handle that kind of load. Bitcoin in it's current state, will not be able to handle transaction volumes that eBay would bring to

the network. Not even BCrash will be able to handle that kind of load. {..but Roger Ver will tell people that it will be possible}
hero member
Activity: 1834
Merit: 759
This is good. The announcement was made publicly so it's going to add to the legitimacy of Bitcoin as a currency, at least in the eyes of the general public.

It's also good that they're not there yet, because neither is Bitcoin. The scaling issue needs to be addressed first, so let's hope the Lightning Network works as well in practice as in theory. Bitcoin in its current state cannot handle the additional strain eBay can theoretically cause its networks.
sr. member
Activity: 434
Merit: 252
Read this article but it clearly states "We’re seriously considering it as these Cryptocurrencies become more of a mainstream” payment instrument, but “we’re not quite there yet""

So I don't think this is gonna happen anytime soon. Now that even steam dropped BTC payment. Bitcoin isn't working out with these high fee and slower confirmation. But after LN is implemented then it should be a good leap forward. No one knows when this is going to happen though.
hero member
Activity: 490
Merit: 501
EBay, one of the world’s largest e-commerce platforms, is considering making the leap into cryptocurrency payments, according to a high-ranking company executive. Full article on: http://cryptobible.io/ebay-talking-adding-bitcoin-payments/

They should have decided on this two years ago and reap all the benefits that an association with Bitcoin can bring. Just look at Overstock of how it created some sort of goodwill for the company even if only a minute part of their sales is coming from Bitcoin. Anyway, this can be a good move for eBay and can be a good news for Bitcoin. We have to admit that there is a clogging problem with Bitcoin which resulted into ridiculously high transaction fees but I still believe than in the long run merchants can be benefited by Bitcoin in terms of exposure and marketing mileage. Hoping more and more merchants would be joining the Bitcoin Alliance and these merchants would be joining the call and clamor to make Bitcoin the way it should be: fast and cheap. 
legendary
Activity: 4466
Merit: 3391
They're too late. The jokes on them. Bitcoin is no longer a payment system. You can't buy stuff with it anymore because now it's a "store of value". Wink
newbie
Activity: 16
Merit: 0
EBay, one of the world’s largest e-commerce platforms, is considering making the leap into cryptocurrency payments, according to a high-ranking company executive.

Full article on: http://cryptobible.io/ebay-talking-adding-bitcoin-payments/
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