eBay to be pursuing crypto payment options for its customers. Thoughts

slaman29

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Quote from: seoincorporation on May 03, 2021, 04:58:33 PM

eBay as a place to pay for NFTs? that's crazy.... I don't think a lot of customers on eBay know about bitcoin and cryptos, most of their users buy real stuff and not digital ones... But for sure eBay don't want to miss this party, I mean if the half-million house would be sold on eBay they would take a nice piece of that cake, I think that's the main reason they are interested in adding that technology to the site.

But if they add NFTs that doesn't mean the users will use their platform to post their digital work, lets see how high will be their fees for this service.

Actually, I don't think it's so crazy. People may not get crypto or tokens or defi, but they all understand collectibles and if you just market NFTs as rarity collectibles (which is how they're marketed now anyway) then I think people will really get on to it. Look at how Top Shots in NBA has taken off. These aren't crypto users just basketball fans.

davis196

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It would be great,if a company like eBay becomes more crypto friendly and open towards technological innovation.However,I don't think that NFTs are the future of the cryptocurrency industry.
I still don't get the point of selling NFTs.What if you make a painting and you turn it into a NFT?After you sell it,other people can still copy and plagiarize that painting online.Your rights aren't protected.The rights of the buyer aren't protected as well.What's the point of paying for an NFT,since everyone can copy it and get if for free?

Wind_FURY

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Quote from: Kakmakr on May 04, 2021, 12:47:35 AM

Did you notice how he worded the statement that he made? He kept it open ended for a reason, because he is not specifically naming a single Crypto currency like Bitcoin. You might see a brand new eBayCoin being released and they might not even worry about using any other Crypto currency.

Then that would be more a shitcoin cash grab, than adoption, or acceptance of cryptocurrency. After its assured failure, they will learn the hard way that there’s only one Universal Ledger that truly matters. Cool

Quote

The reason for this is simple, because the Bitcoin Blockchain is so congested, payments takes a long time to confirm and customers want near instant payment networks. It is also about control, because they can control their own Blockchain and tokens and the amount of tokens that can exist. Roll Eyes

They will need MySQL for that, or maybe just Google Sheets with permissioned entities to append updates on the ledger, not a “blockchain”.

tranthidung

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If non-existing companies or small companies can build up and develop their cryptocurrencies, why the Big-Tech companies can not?

They will create their own cryptocurrencies and it is their ultimate goals. Bitcoin and alternate cryptocurrencies are not their priorities. Obviously, to make noise, catch attention, and attract new users, capital and usages, they have to accept Bitcoin and some top altcoins.

They as big companies have more observers and have to be restricted more by governments. Whenever Big-Tech companies want to create their own cryptocurrencies, governments will response quickly and try to delay everything.

Facebook, Twitter, Google, Microsoft and others will have their cryptocurrencies together with hundreds of CBDCs globally.

In the 2020 - 202? bull market, we have some good contributors

Institutional investments
Institutional adoptions
Bigger communities for Bitcoin
Stronger belief on the Bitcoin survival. Since 2009, more than one decade, we can say "Bitcoin will neither die nor disappear".

pooya87

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That doesn't sound like eBay is looking into "crypto payment options" exactly. It seems like they are looking for a way to create their own shittoken and tell people to use that token to make payments which is not a good news at all. In fact it is the exact opposite specially if they use a centralized platform to create that token which is notoriously known for being buggy and easy to fork to undo transactions (ie. is not immutable).

Imagine the inevitable day when their shittoken built on top of a shit smart contract platform blows up in their face and people lose billions of dollars. They won't blame their own stupidity, they will blame cryptocurrencies in general and spread FUD about bitcoin which had nothing to do with any of that.

Kakmakr

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Did you notice how he worded the statement that he made? He kept it open ended for a reason, because he is not specifically naming a single Crypto currency like Bitcoin. You might see a brand new eBayCoin being released and they might not even worry about using any other Crypto currency.

The reason for this is simple, because the Bitcoin Blockchain is so congested, payments takes a long time to confirm and customers want near instant payment networks. It is also about control, because they can control their own Blockchain and tokens and the amount of tokens that can exist. Roll Eyes

Poker Player

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In a few years we are going to see crypto payment options in the majority of large companies' websites. We are just at the beginning of the road. And I don't think it's going to take that long. I think Bitcoin will be something that we will be able to see every day as a possible form of payment.

Yaunfitda

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I think this is welcoming news indeed, we have been waiting for someone big to accept bitcoin and crypto in general as payment options so what a better news that hearing the biggest global market place in the world. As far as NFT goes, well that's there grass roots isn't it? when they are just in it's infancy, eBay was the place to trade hard items to find.

int03h

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NFTs on eBay look great. They would outperform a highly frequented second-hand bazaar of the site.
Perhaps in the near future, Amazon will also learn about this feature of eBay.
What I'm interested in now is what payment method they will use to process crypto-related transactions to ensure transparency and savings for users.

electronicash

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Quote from: seoincorporation on May 03, 2021, 04:58:33 PM

eBay as a place to pay for NFTs? that's crazy.... I don't think a lot of customers on eBay know about bitcoin and cryptos, most of their users buy real stuff and not digital ones... But for sure eBay don't want to miss this party, I mean if the half-million house would be sold on eBay they would take a nice piece of that cake, I think that's the main reason they are interested in adding that technology to the site.

But if they add NFTs that doesn't mean the users will use their platform to post their digital work, lets see how high will be their fees for this service.

it's a place for bidding where prices are getting on top of the roof, it should make sense where we could sell NFTs. ebay, however, is not becoming popular anymore i'm not sure if there are still users buying there. but this NFTs and accepting crypto might just revive them. anyone right now can make an NFT art. we've seen the "disaster girl" was sold for $500K.

Haunebu

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Great progress. eBay has always been one of my go-to sites for second hand stuff and crypto integration is the icing on the cake for me. The big question is whether there will be any extra fees added for both buyers and sellers.

They should integrate it in such a manner that we should only be concerned about the crypto network fees. Also, I hope they add popular altcoins like LTC, Doge etc along with BTC.

Am not interested in NFTs at all and don't get the craze around them. They should primarily focus on the points that I mentioned above.

hatshepsut93

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Fingers crossed that they don't use BitPay or some other crappy middleman that takes huge fees and only creates obstacles for all parties. But I don't like them jumping on the NFT bandwagon, NFT is such a bubble, it doesn't really have fundamentals, whatever people are buying doesn't really give them ownership over anything, as it's practically non-enforceable either via law or via protocol.

seoincorporation

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eBay as a place to pay for NFTs? that's crazy.... I don't think a lot of customers on eBay know about bitcoin and cryptos, most of their users buy real stuff and not digital ones... But for sure eBay don't want to miss this party, I mean if the half-million house would be sold on eBay they would take a nice piece of that cake, I think that's the main reason they are interested in adding that technology to the site.

But if they add NFTs that doesn't mean the users will use their platform to post their digital work, lets see how high will be their fees for this service.

Hamphser

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Thanks for the share up and its always been a good news when it comes to these kind of rumors and it would be much more better if it would really happen but once those words had been spoken out then

expect that the probabilities for it to happen would really be high so im expecting this news would just boom out and well it would be always a good add up into this market when it comes to recognition or integration.

Its true that there are companies out there are just trying to observe on whats the main trend but since Paypal and Tesla made out some great move which had already spark out some interest and possibly
making the same step.

DarkDays

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It is not so much of a new topic but at least it's becoming more and more transparent now that eBay is not going to miss out on the crypto market.

Jamie Iannone the CEO of eBay announced that eBay will be "exploring opportunities" to enable nonfungible tokens (NFTs) or crypto options for their customers. As always, details not yet released but it shows what many of us predicted following Tesla's and PayPal's crypto integration.

''In an interview with CNBC today, eBay CEO Jamie Iannone said the company will "continue to look" at payment options like crypto. In addition, he said eBay will be "exploring opportunities" to enable nonfungible tokens, or NFTs, on the platform "in an easy way," comparing the digital offerings to collectibles.''

For details, see the full Cointelegraph article here: https://cointelegraph.com/news/ebay-exploring-crypto-payment-options-and-nft-auctions

Topic: eBay to be pursuing crypto payment options for its customers. Thoughts (Read 161 times)