PayPal could benefit greatly from providing a wallet service

ranlo

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Quote from: serenitys on May 28, 2014, 03:40:10 PM

Quote from: gitinahang on May 28, 2014, 11:17:16 AM

Paypal is smart they will survive somehow.

Paypal will be history in 5 years. It took them about that long to get to mass adoption...so bitcoin would take less time to go mainstream and do it better. Paypal can't compete with bitcoin. They might offer a wallet service but the second people learn enough about bitcoin they will not put their coin in paypal unless they're stupid.

They can't offer anything to outdo bitcoin, neither in service, currency and certainly not security.

It's the difference between a corporation selling bottled water or confiscating it at a whim, and everyone having their own well spring in their back yard with lifetime pure water. Only an idiot would buy from the corporation.

Western Union though will fall before paypal simply because online is more convenient than offline. Once people understand they can send money instantly for pennies, online, they will never step foot inside another WU.

Soon as the infrastructure is in place and the transition is smooth, mass adoption will escalate and these two will begin to implode as people leave them or stop using them in droves.

Yeah, I mean nobody has heard about Bitcoin that still doesn't use it. Everyone I've talked to on the street uses Bitcoin actively and has changed away from PayPal.

You're delusional.

Bitcoin and PayPal are catering to two VERY DIFFERENT types of people. What you're saying is analogous to "motorcycle companies are going to go out of business because cars were created and they're safer and offer more features." Different people.

serenitys

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Be Here Now

Quote from: gitinahang on May 28, 2014, 11:17:16 AM

Paypal is smart they will survive somehow.

Paypal will be history in 5 years. It took them about that long to get to mass adoption...so bitcoin would take less time to go mainstream and do it better. Paypal can't compete with bitcoin. They might offer a wallet service but the second people learn enough about bitcoin they will not put their coin in paypal unless they're stupid.

They can't offer anything to outdo bitcoin, neither in service, currency and certainly not security.

It's the difference between a corporation selling bottled water or confiscating it at a whim, and everyone having their own well spring in their back yard with lifetime pure water. Only an idiot would buy from the corporation.

Western Union though will fall before paypal simply because online is more convenient than offline. Once people understand they can send money instantly for pennies, online, they will never step foot inside another WU.

Soon as the infrastructure is in place and the transition is smooth, mass adoption will escalate and these two will begin to implode as people leave them or stop using them in droves.

gitinahang

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Paypal is smart they will survive somehow.

Plento

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I want Paypal nowhere near Cryptocurrency. I hate those ****ers.

MahaRamana

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Quote from: LostDutchman on May 28, 2014, 12:56:29 AM

Quote from: ranlo on May 28, 2014, 12:45:49 AM

Quote from: LostDutchman on May 28, 2014, 12:29:29 AM

With no chargback option Bitcoin will never, ever, not now, not ever be adopted by Paypal.

End of story.

Move along.

Nothing further to see here.

The way I see it, they would force chargebacks in fiat.

I buy something from you for 0.5 BTC (value of BTC is $500). You don't ship. The chargeback would be done to your bank account for $250, the value of the Bitcoin at the time of purchase.

I'm almost positive they are planning to use BTC as an intermediary (like Bitpay). ie. when I send the 0.5 BTC for my purchase, they convert it to fiat and pass it off (and at the same time cash in that Bitcoin).

"The way I see it, they would force chargebacks in fiat."

Thereby defeating one of the purposes of Bitcoin.

When are you people going to get it?

Do you think bitcoin will and can only be used in ways that fully embrace all its purposes ? Of course not.
It is obvious that there will be service providers who accept bitcoins for merchants but will enforce chargebacks on a FIAT reserve of the merchant. There is absolutely no need to have access to a BTC wallet of the merchant.
Ecommerce requires trust and without chargeback security consumers will not trust. If paypal is not offering this, someone else will.

ranlo

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Quote from: LostDutchman on May 28, 2014, 12:56:29 AM

Quote from: ranlo on May 28, 2014, 12:45:49 AM

Quote from: LostDutchman on May 28, 2014, 12:29:29 AM

With no chargback option Bitcoin will never, ever, not now, not ever be adopted by Paypal.

End of story.

Move along.

Nothing further to see here.

The way I see it, they would force chargebacks in fiat.

I buy something from you for 0.5 BTC (value of BTC is $500). You don't ship. The chargeback would be done to your bank account for $250, the value of the Bitcoin at the time of purchase.

I'm almost positive they are planning to use BTC as an intermediary (like Bitpay). ie. when I send the 0.5 BTC for my purchase, they convert it to fiat and pass it off (and at the same time cash in that Bitcoin).

"The way I see it, they would force chargebacks in fiat."

Thereby defeating one of the purposes of Bitcoin.

When are you people going to get it?

What you have to keep in mind is that how YOU feel is irrelevant. How *I* feel is irrelevant. How we (as a community) feel is irrelevant. We are ALL in the minority.

PayPal will do what makes them money. If they implement Bitcoin payments, people *are* going to use it. It is *going* to bring Bitcoin more mainstream. What you, I or the entire Bitcoin community think means absolutely nothing; PayPal will be able to push things out there. People have heard of Bitcoin but are afraid to use it. PayPal will "ease" this fear in them and bring them on board. It's *their* opinions that matter; those of the people who aren't technologically minded. Those who don't understand what's going on.

You need to leave your own feelings out of this because they don't matter to PayPal. They aren't trying to bring *us* on board; we're already here.

They don't care what Bitcoin was MADE to do. They care whether or not it is going to make them profit. Altering its use to profit is exactly what a business is supposed to do, so I guarantee they will.

LostDutchman

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Quote from: ranlo on May 28, 2014, 12:45:49 AM

Quote from: LostDutchman on May 28, 2014, 12:29:29 AM

With no chargback option Bitcoin will never, ever, not now, not ever be adopted by Paypal.

End of story.

Move along.

Nothing further to see here.

The way I see it, they would force chargebacks in fiat.

I buy something from you for 0.5 BTC (value of BTC is $500). You don't ship. The chargeback would be done to your bank account for $250, the value of the Bitcoin at the time of purchase.

I'm almost positive they are planning to use BTC as an intermediary (like Bitpay). ie. when I send the 0.5 BTC for my purchase, they convert it to fiat and pass it off (and at the same time cash in that Bitcoin).

"The way I see it, they would force chargebacks in fiat."

Thereby defeating one of the purposes of Bitcoin.

When are you people going to get it?

ranlo

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Activity: 1988

Merit: 1007

Quote from: LostDutchman on May 28, 2014, 12:29:29 AM

With no chargback option Bitcoin will never, ever, not now, not ever be adopted by Paypal.

End of story.

Move along.

Nothing further to see here.

The way I see it, they would force chargebacks in fiat.

I buy something from you for 0.5 BTC (value of BTC is $500). You don't ship. The chargeback would be done to your bank account for $250, the value of the Bitcoin at the time of purchase.

I'm almost positive they are planning to use BTC as an intermediary (like Bitpay). ie. when I send the 0.5 BTC for my purchase, they convert it to fiat and pass it off (and at the same time cash in that Bitcoin).

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: ranlo on May 28, 2014, 12:22:50 AM

Quote from: LostDutchman on May 28, 2014, 12:16:57 AM

Quote from: ranlo on May 27, 2014, 11:29:25 PM

Quote from: LostDutchman on May 27, 2014, 11:14:35 PM

Basically the CC companies will not engage in payment methods which they cannot control.

Does this mean that you feel the CEO is lying when he says they are actively looking into ways to implement Bitcoin into both eBay and PayPal as a payment method? I think that speaks pretty strongly about their plans.

OK, here is the deal; short and sweet or sweet and sour, as the case may be.

The credit card companies have a strong policy in favour of the buyer, which includes a chargeback or forced refund method.

If Paypal sets up a Bitcoin payment option are you willing to give Paypal the key to your Bitcoin wallet in order to facilitate refunds?

(Waiting)

(Frogs: Ribbit, ribbit!)

Waiting........................................................................ ......................

That's what I thought.

Thank you for your support.

I personally wouldn't because they've screwed me in the past. But we're not mainstream with Bitcoin and PayPal is most definitely mainstream. This means they will benefit greatly because TONS of people are going to utilize their services. Those who can't secure their own accounts will rely on PayPal. Those who don't understand Bitcoin will use PP. These people will most definitely constitute the majority.

With no chargback option Bitcoin will never, ever, not now, not ever be adopted by Paypal.

End of story.

Move along.

Nothing further to see here.

ranlo

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Activity: 1988

Merit: 1007

Quote from: LostDutchman on May 28, 2014, 12:16:57 AM

Quote from: ranlo on May 27, 2014, 11:29:25 PM

Quote from: LostDutchman on May 27, 2014, 11:14:35 PM

Basically the CC companies will not engage in payment methods which they cannot control.

Does this mean that you feel the CEO is lying when he says they are actively looking into ways to implement Bitcoin into both eBay and PayPal as a payment method? I think that speaks pretty strongly about their plans.

OK, here is the deal; short and sweet or sweet and sour, as the case may be.

The credit card companies have a strong policy in favour of the buyer, which includes a chargeback or forced refund method.

If Paypal sets up a Bitcoin payment option are you willing to give Paypal the key to your Bitcoin wallet in order to facilitate refunds?

(Waiting)

(Frogs: Ribbit, ribbit!)

Waiting........................................................................ ......................

That's what I thought.

Thank you for your support.

I personally wouldn't because they've screwed me in the past. But we're not mainstream with Bitcoin and PayPal is most definitely mainstream. This means they will benefit greatly because TONS of people are going to utilize their services. Those who can't secure their own accounts will rely on PayPal. Those who don't understand Bitcoin will use PP. These people will most definitely constitute the majority.

LostDutchman

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Activity: 476

Merit: 250

Quote from: ranlo on May 27, 2014, 11:29:25 PM

Quote from: LostDutchman on May 27, 2014, 11:14:35 PM

Basically the CC companies will not engage in payment methods which they cannot control.

Does this mean that you feel the CEO is lying when he says they are actively looking into ways to implement Bitcoin into both eBay and PayPal as a payment method? I think that speaks pretty strongly about their plans.

OK, here is the deal; short and sweet or sweet and sour, as the case may be.

The credit card companies have a strong policy in favour of the buyer, which includes a chargeback or forced refund method.

If Paypal sets up a Bitcoin payment option are you willing to give Paypal the key to your Bitcoin wallet in order to facilitate refunds?

(Waiting)

(Frogs: Ribbit, ribbit!)

Waiting........................................................................ ......................

That's what I thought.

Thank you for your support.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: LostDutchman on May 27, 2014, 11:14:35 PM

Basically the CC companies will not engage in payment methods which they cannot control.

Does this mean that you feel the CEO is lying when he says they are actively looking into ways to implement Bitcoin into both eBay and PayPal as a payment method? I think that speaks pretty strongly about their plans.

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: ranlo on May 27, 2014, 10:57:50 PM

Quote from: LostDutchman on May 27, 2014, 10:45:36 PM

Quote from: ranlo on May 27, 2014, 10:43:30 PM

Quote from: LostDutchman on May 27, 2014, 10:37:58 PM

Quote from: ranlo on May 27, 2014, 10:36:47 PM

Quote from: LostDutchman on May 27, 2014, 10:29:29 PM

Quote from: PolarPoint on May 27, 2014, 07:09:59 PM

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

What do you think is the primary reason then? Their CEO stated that he wants to implement Bitcoin to eBay and PayPal, so their hostilities can't possibly be because THEY didn't like it. That or they flip-flop.

What is your view on this?

Simple.

The credit card companies to which Paypal and ebay are beholden will never allow it.

So basically your theory is that the CC companies are running (through, for all intents and purposes, threats -- as PayPal relies on them) PP/eBay and are ensuring they don't do anything to hurt that relationship?

That seems plausible as well. And I guess it would fit in line with them (CC companies) banning merchants that offer cash discounts or charging more for CCs (as it's essentially the same thing, just in a different manner).

Basically the CC companies will not engage in payment methods which they cannot control.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: LostDutchman on May 27, 2014, 10:45:36 PM

Quote from: ranlo on May 27, 2014, 10:43:30 PM

Quote from: LostDutchman on May 27, 2014, 10:37:58 PM

Quote from: ranlo on May 27, 2014, 10:36:47 PM

Quote from: LostDutchman on May 27, 2014, 10:29:29 PM

Quote from: PolarPoint on May 27, 2014, 07:09:59 PM

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

What do you think is the primary reason then? Their CEO stated that he wants to implement Bitcoin to eBay and PayPal, so their hostilities can't possibly be because THEY didn't like it. That or they flip-flop.

What is your view on this?

Simple.

The credit card companies to which Paypal and ebay are beholden will never allow it.

So basically your theory is that the CC companies are running (through, for all intents and purposes, threats -- as PayPal relies on them) PP/eBay and are ensuring they don't do anything to hurt that relationship?

That seems plausible as well. And I guess it would fit in line with them (CC companies) banning merchants that offer cash discounts or charging more for CCs (as it's essentially the same thing, just in a different manner).

oXo

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I doubt that PP will do that, but anyway I don't think they will benefit so much from it though "Considering how much there fees are they won't be able to get close to that if they work on BTC".

LostDutchman

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Merit: 250

Quote from: ranlo on May 27, 2014, 10:43:30 PM

Quote from: LostDutchman on May 27, 2014, 10:37:58 PM

Quote from: ranlo on May 27, 2014, 10:36:47 PM

Quote from: LostDutchman on May 27, 2014, 10:29:29 PM

Quote from: PolarPoint on May 27, 2014, 07:09:59 PM

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

What do you think is the primary reason then? Their CEO stated that he wants to implement Bitcoin to eBay and PayPal, so their hostilities can't possibly be because THEY didn't like it. That or they flip-flop.

What is your view on this?

Simple.

The credit card companies to which Paypal and ebay are beholden will never allow it.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: LostDutchman on May 27, 2014, 10:37:58 PM

Quote from: ranlo on May 27, 2014, 10:36:47 PM

Quote from: LostDutchman on May 27, 2014, 10:29:29 PM

Quote from: PolarPoint on May 27, 2014, 07:09:59 PM

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

What do you think is the primary reason then? Their CEO stated that he wants to implement Bitcoin to eBay and PayPal, so their hostilities can't possibly be because THEY didn't like it. That or they flip-flop.

What is your view on this?

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: ranlo on May 27, 2014, 10:36:47 PM

Quote from: LostDutchman on May 27, 2014, 10:29:29 PM

Quote from: PolarPoint on May 27, 2014, 07:09:59 PM

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

Well there is that but I don't see it as a primary reason.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: LostDutchman on May 27, 2014, 10:29:29 PM

Quote from: PolarPoint on May 27, 2014, 07:09:59 PM

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

This right here. I think them having banned Bitcoin in the past (they appear to not do this anymore, afaik) has nothing to do with them not wanting it, but because of the regulation that was surrounding it. If it was declared illegal and they were allowing Bitcoin sales, that would be a huge liability. They needed to ensure the green light was given first.

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: PolarPoint on May 27, 2014, 07:09:59 PM

Paypal is a payment platform. They know bitcoin is going to replace them, that is the reason they are banning it. Deep down, they also know they will be forced to incorporate bitcoin in the future. I think they should be in the bitcoin market before new entrants comes in. Experienced bitcoin users may not want to use Paypal bitcoin wallet, new bitcoin users will, and there are more of them than us.

Pardon me but horseshit.

Topic: PayPal could benefit greatly from providing a wallet service (Read 2412 times)