2021-05-03 EBay says open to accepting to crypto currencies in future

pixie85

hero member

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Great news. Not using ebay a lot since Amazon is far more popular here, but I'll accept bullish news in any form they come Wink

Quote from: malevolent on May 04, 2021, 05:34:23 PM

Reading the linked article: "we want to make money off of NFTs while the hype still lasts." I wouldn't expect to be able to bid on eBay auctions with BTC anytime soon.

I hope it will prolong the hype even more. Buying time begins to take literal form Cheesy

Streets 2.0

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FRX: Ferocious Alpha

Trading platforms, banks, funds, corporations - everyone is chasing bitcoin, trying to integrate it and other currencies into their systems as soon as possible in order not to lose profits and new users. Such a dynamically growing market is attractive to everyone - it doesn't matter if there is an increase or a correction, it seems that the golden age of bitcoin has begun and such news only confirms this once again. When such companies accumulate a critical mass, the price of bitcoin will exceed $ 100k!

willoweb

sr. member

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Merit: 251

This is great news! I think that this is not surprising and I was waiting for such news, in a world with such high competition for customers, such services, missing the opportunity to settle in cryptocurrency, give their competitors an advantage in the market. So it is not surprising that they are already making such statements, although there is still little specifics in this, but this is already a good signal for the market as a whole!

bryant.coleman

legendary

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They are already indirectly accepting Bitcoin (through PayPal), so I don't think that accepting Bitcoin directly will represent some sort of a drastic change. New infrastructure needs to be created if they are accepting Bitcoin (or any other cryptocurrency). I am talking about hot wallet and a mechanism to exchange the cryptocurrency to fiat. Also, they need to do some additional paperwork related to taxes. Anyway, so many corporations have already done this (Overstock for example), so it is not going to be too hard.

bbc.reporter

legendary

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@malevolent. Also agreed. It appears that the money after the bull market might be in auctions of illiquid NFT collectibles. I reckon the forum’s auction subforum will become more alive because of this hehe. It is easier and more willing for someone to bid for virtual items because delivery is easy and instant.

malevolent

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Reading the linked article: "we want to make money off of NFTs while the hype still lasts." I wouldn't expect to be able to bid on eBay auctions with BTC anytime soon.

Harlot

hero member

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This is something helpful tbh on my side I won't have to personally message the seller asking if they have alternative modes of payments like Bitcoin (which most of the times they don't) and see if we can deal outside of Ebay. With this if implemented by Ebay both sellers and buyers will find it helpful and might actually move some sellers to open up in other modes of payment since Bitcoin will now be linked to its website. They need to have a good escrow service though as this will be a disadvantage for the buyer if they won't receive any item or receive a bogus one.

Renampun

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Catalog Websites

this is great news and will definitely have a positive impact on prices...
Bitcoin is increasingly attracting large companies to start adopting it, but for e-commerce like eBay, I think it would be great if they accept payments using the Bitcoin Lightning Network.

bbc.reporter

legendary

Activity: 3122

Merit: 1492

This is good news, however, as a realist I am very skeptical if many bitcoin holders would use their coins to buy on Ebay. I might be wrong and pessimistic but I would like to see Ebay’s data on purchases used with bitcoin if available. I predict hype in the beginning and forgotten and possibly removal in the ending.

stomachgrowls

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Quote from: aoluain on May 03, 2021, 06:18:50 PM

I wonder if this has anything to do with Paypal's favourable stance on Bitcoin?

For sure it does because this isnt something that can a big company could easily make out decision on accepting into something which isnt regulated or speculative one.

Tesla and Paypal did really make out some significant move when it comes to global adoption where they had started out to make some recognition which did really open the eyes of other companies globally

whom are just still observing at the moment whether they would accept bitcoin/crypto into their business or not.Its only a matter of time and not only Ebay but also into those big or giant companies would really
do join the bandwagon of this crypto craze.

aoluain

legendary

Activity: 2464

Merit: 1387

I wonder if this has anything to do with Paypal's favourable stance on Bitcoin?

The article does make the point that both Tesla and Paypal have made the move
and correlate this to Ebay. Ebay have made the announcement so its only a
matter of time.

Quote

"We are always looking at the most relevant forms of payment and will continue to assess that going forward. We have no immediate plans, but it (cryotocurrency) is something we are keeping an eye on,"

Source: https://finance.yahoo.com/news/ebay-says-open-accepting-cryptocurrencies-171212411.html

Topic: 2021-05-03 EBay says open to accepting to crypto currencies in future (Read 109 times)