Topic: eBay CEO: "We will have to integrate digital currencies..." (Read 2909 times)
Cryptocurrency protocol will likely eventually be part of the underlying infrastructure of financial institutions. I certainly think it will be integrated into Paypal eventually.
Ppl that think that PayPal is afraid of Bitcoin are so wrong. Bitcoin can help PayPal ALOT. Fees that PayPal have are effect of banks / credit cards + paypal profit. With Bitcoin, PayPal can exclude banks and credit card companys and use that extra money to lower their own fees and make same amount of money or even more.
First thing ppl say: "why would anyone use PayPal if they have Bitcoin?" Answer is simple enough: "Buyers protection". Just like with fiat, PayPal will hold BTC (transfered into fiat) on them and payout seller only if transaction executes well. Basicly, they become largest BTC escow service.
First thing ppl say: "why would anyone use PayPal if they have Bitcoin?" Answer is simple enough: "Buyers protection". Just like with fiat, PayPal will hold BTC (transfered into fiat) on them and payout seller only if transaction executes well. Basicly, they become largest BTC escow service.
The biggest change is that the seller, not the buyer, might be scamming, but they already have a rating system for this.
So would the buyer use bitcoin and the seller get dollars, or vice-versa?
Ebay really only needs to verify that the transaction happened. I don't see how Paypal would enter in to the equation. Seller provides a receive address, Ebay confirms that the correct amount went to it...
Ebay really only needs to verify that the transaction happened. I don't see how Paypal would enter in to the equation. Seller provides a receive address, Ebay confirms that the correct amount went to it...
And all currencies are digital today anyways. I've heard something like only 1% of the dollar exists as physical. Paypal is literally digital currency and this dude says that they have to integrate digital currencies...
Interesting that he said "Digital Currencies" and not just "Bitcoin".
The trend is clear, ebay will have to adjust to be left behind.
That is great news! I think they almost have to adopt bitcoin simply due to the fact that they don't want to gl get left behind. Get in before it's too late!
Adapt or go the way of the dinosaurs. First the internet then the brick and mortar businesses.
That is great news! I think they almost have to adopt bitcoin simply due to the fact that they don't want to gl get left behind. Get in before it's too late!
I kept telling people not to overanalyze his words but then I saw the interview in written format.
And he intentionally says "Digital Currencies" twice, when asked directly about Bitcoin.
Digital currencies is way more syllables, and much harder to say than just "Bitcoin". So the fact that he intentionally used that phrase .... twice .... means he was resisting saying Bitcoin.
it wasn't until the interviewer asked him point blank how long before Ebay PayPal incorporate Bitcoin?
And still even then he didnt answer directly. He said "There will be use cases for Bitcoin ... like remittances ... transfer of funds ... you'll see Bitcoin in a lot of these markets" (accurate paraphrase)
He didnt answer the question, nor did he state that Bitcoin is going to be the digital currency PayPal uses.
When asked if he owns any, he said yes just to see how it works. A necessary step to creating your own digital currency.
Not trying to be a debbie downer, but CEO's talk very intentionally most of the time, and he never once said Ebay / PayPal would be using Bitcoin itself.
-B-
And he intentionally says "Digital Currencies" twice, when asked directly about Bitcoin.
Digital currencies is way more syllables, and much harder to say than just "Bitcoin". So the fact that he intentionally used that phrase .... twice .... means he was resisting saying Bitcoin.
it wasn't until the interviewer asked him point blank how long before Ebay PayPal incorporate Bitcoin?
And still even then he didnt answer directly. He said "There will be use cases for Bitcoin ... like remittances ... transfer of funds ... you'll see Bitcoin in a lot of these markets" (accurate paraphrase)
He didnt answer the question, nor did he state that Bitcoin is going to be the digital currency PayPal uses.
When asked if he owns any, he said yes just to see how it works. A necessary step to creating your own digital currency.
Not trying to be a debbie downer, but CEO's talk very intentionally most of the time, and he never once said Ebay / PayPal would be using Bitcoin itself.
-B-
Offering BTC alongside other currencies is completely in line with what an online wallet service like PayPal offers. Of course he can't make any definitive statements, but him saying that he owns some bitcoin to understand how it works is a very strong statement.
I kept telling people not to overanalyze his words but then I saw the interview in written format.
And he intentionally says "Digital Currencies" twice, when asked directly about Bitcoin.
Digital currencies is way more syllables, and much harder to say than just "Bitcoin". So the fact that he intentionally used that phrase .... twice .... means he was resisting saying Bitcoin.
it wasn't until the interviewer asked him point blank how long before Ebay PayPal incorporate Bitcoin?
And still even then he didnt answer directly. He said "There will be use cases for Bitcoin ... like remittances ... transfer of funds ... you'll see Bitcoin in a lot of these markets" (accurate paraphrase)
He didnt answer the question, nor did he state that Bitcoin is going to be the digital currency PayPal uses.
When asked if he owns any, he said yes just to see how it works. A necessary step to creating your own digital currency.
Not trying to be a debbie downer, but CEO's talk very intentionally most of the time, and he never once said Ebay / PayPal would be using Bitcoin itself.
-B-
And he intentionally says "Digital Currencies" twice, when asked directly about Bitcoin.
Digital currencies is way more syllables, and much harder to say than just "Bitcoin". So the fact that he intentionally used that phrase .... twice .... means he was resisting saying Bitcoin.
it wasn't until the interviewer asked him point blank how long before Ebay PayPal incorporate Bitcoin?
And still even then he didnt answer directly. He said "There will be use cases for Bitcoin ... like remittances ... transfer of funds ... you'll see Bitcoin in a lot of these markets" (accurate paraphrase)
He didnt answer the question, nor did he state that Bitcoin is going to be the digital currency PayPal uses.
When asked if he owns any, he said yes just to see how it works. A necessary step to creating your own digital currency.
Not trying to be a debbie downer, but CEO's talk very intentionally most of the time, and he never once said Ebay / PayPal would be using Bitcoin itself.
-B-
Good luck promoting e-bay or paypal coin if that is the way they go. Bit coin will crush them eventually anyway.
I kept telling people not to overanalyze his words but then I saw the interview in written format.
And he intentionally says "Digital Currencies" twice, when asked directly about Bitcoin.
Digital currencies is way more syllables, and much harder to say than just "Bitcoin". So the fact that he intentionally used that phrase .... twice .... means he was resisting saying Bitcoin.
it wasn't until the interviewer asked him point blank how long before Ebay PayPal incorporate Bitcoin?
And still even then he didnt answer directly. He said "There will be use cases for Bitcoin ... like remittances ... transfer of funds ... you'll see Bitcoin in a lot of these markets" (accurate paraphrase)
He didnt answer the question, nor did he state that Bitcoin is going to be the digital currency PayPal uses.
When asked if he owns any, he said yes just to see how it works. A necessary step to creating your own digital currency.
Not trying to be a debbie downer, but CEO's talk very intentionally most of the time, and he never once said Ebay / PayPal would be using Bitcoin itself.
-B-
And he intentionally says "Digital Currencies" twice, when asked directly about Bitcoin.
Digital currencies is way more syllables, and much harder to say than just "Bitcoin". So the fact that he intentionally used that phrase .... twice .... means he was resisting saying Bitcoin.
it wasn't until the interviewer asked him point blank how long before Ebay PayPal incorporate Bitcoin?
And still even then he didnt answer directly. He said "There will be use cases for Bitcoin ... like remittances ... transfer of funds ... you'll see Bitcoin in a lot of these markets" (accurate paraphrase)
He didnt answer the question, nor did he state that Bitcoin is going to be the digital currency PayPal uses.
When asked if he owns any, he said yes just to see how it works. A necessary step to creating your own digital currency.
Not trying to be a debbie downer, but CEO's talk very intentionally most of the time, and he never once said Ebay / PayPal would be using Bitcoin itself.
-B-
Bitcoin heading to $1000 fast if ebay/paypal integrate
If they add BTC alongside USD, GBP, EUR that would be fantastic.
i use paypal because of the ESCROW option ... if paypal "transform" BTC in FIAT money during the payment, it's useless.
because, when ESCROW is activate, and BTC raise, i don't retrieve BTC but only FIAT money.
No matter what form the digital currency is in be prepared to pay ebay 10% of each purchase, paypal 3% of each purchase and whatever currency transaction fee they feel is appropriate. This will most likely be pushed onto the seller which means the buyer will pay it. I am curious to see how it is implemented though.
how could it be justified that paypal even be used with bitcoin? btc circumvents what paypal provides.
Because they'll escrow the transaction, just like they do now. It will indeed be interesting to see what PayPal's fee structure for bitcoin transactions ends up being...
FWIW, I think eBay/PP is genuinely realizing that virtual currencies are/will-be a big deal, and they don't want to turn out to be Blockbuster. So they need to start building experience/trust in the virtual currency domain now.
Incidentally, PayPal's original vision was as a liberating online money system that would free people worldwide from reckless governments' monetary systems. They just didn't have the formula right (ie, they're a centralized entity), and so they ended up fully integrated into the existing monetary ecosystem instead. If they do integrate bitcoin and bitcoin payment volume becomes meaningful for them, they'll have come full circle. Peter Thiel will probably smile at that.
well, i hope so.. we'd have a juggernaut who would be willing to protect bitcoin, even if thye are mainly concerned with their own interests.. it would still line up with ours.
PayPal integrating bitcoin in to it's wallet system would probably the biggest single step for bitcoin on the path to main stream acceptance. If they add BTC alongside USD, GBP, EUR that would be fantastic. If you could buy BTC through PayPal it would be a huge gain for bitcoin in terms of easy access for the average person.
He really did sound excited and ready to deal with the reality and the challenge of this new form of money. I have to give him credit for that. That's exactly the sort of attitude I would expect a good CEO to have.
He really did sound excited and ready to deal with the reality and the challenge of this new form of money. I have to give him credit for that. That's exactly the sort of attitude I would expect a good CEO to have.
No matter what form the digital currency is in be prepared to pay ebay 10% of each purchase, paypal 3% of each purchase and whatever currency transaction fee they feel is appropriate. This will most likely be pushed onto the seller which means the buyer will pay it. I am curious to see how it is implemented though.
how could it be justified that paypal even be used with bitcoin? btc circumvents what paypal provides.
Because they'll escrow the transaction, just like they do now. It will indeed be interesting to see what PayPal's fee structure for bitcoin transactions ends up being...
FWIW, I think eBay/PP is genuinely realizing that virtual currencies are/will-be a big deal, and they don't want to turn out to be Blockbuster. So they need to start building experience/trust in the virtual currency domain now.
Incidentally, PayPal's original vision was as a liberating online money system that would free people worldwide from reckless governments' monetary systems. They just didn't have the formula right (ie, they're a centralized entity), and so they ended up fully integrated into the existing monetary ecosystem instead. If they do integrate bitcoin and bitcoin payment volume becomes meaningful for them, they'll have come full circle. Peter Thiel will probably smile at that.
No matter what form the digital currency is in be prepared to pay ebay 10% of each purchase, paypal 3% of each purchase and whatever currency transaction fee they feel is appropriate. This will most likely be pushed onto the seller which means the buyer will pay it. I am curious to see how it is implemented though.
how could it be justified that paypal even be used with bitcoin? btc circumvents what paypal provides.
No matter what form the digital currency is in be prepared to pay ebay 10% of each purchase, paypal 3% of each purchase and whatever currency transaction fee they feel is appropriate. This will most likely be pushed onto the seller which means the buyer will pay it. I am curious to see how it is implemented though.
He says digital currencies. I wonder if that means more than just bitcoin?
it could be, but i dont think anyone would really want an ebaycoin. it doesn't have the infrastrucutre or support that anyone would want.
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