Topic: PayPal could benefit greatly from providing a wallet service - page 3. (Read 2412 times)
if paypal started some sort of business model that incorporates bitcoin, how many here would even use them? i know i for one wouldn't.. it's fucking paypal after all. maybe i'm wrong, but i don't think paypal could pull it off.
ehhh I don't really agree.
Paypal will have to embrace bitcoin or fade away. I think they will be clever and take up butcon as a method of topping up money in users' accounts. They can reject bitcoin now, but it will be unstoppable in a few years. When more online payment wallet businesses gain market share, they will be too late to react.
I would be okay with using PayPal as an exchange but I would never let them hold the keys to my wallet.
NO payment processor of any importance is going to implement a digital currency that has the stability approximating the attention span of a fruit fly.
When are you people going to grow up and get back to basics?
When are you people going to grow up and get back to basics?
paypal could be affected by future seize over bitcoin, or have trouble with wharever legal classification btc fits in the future. In their license terms they said it is forbidden to use paypal to trade currencies.
Think they are more interested on profit from high taxes of product selling than act like an exchange, and have more risks and maybe a legal nightmare in some parts of the world
Think they are more interested on profit from high taxes of product selling than act like an exchange, and have more risks and maybe a legal nightmare in some parts of the world
I think having Paypal involved is terrifying. They would define an experience that would rob normal users of any control.
PayPal are known to freeze peoples assets and refuse to return funds, I wouldn't want to hold Bitcoin with them.
I couldn't agree more. Having Paypal as an intermediary will be similar to handing your coins over to MtGox in the past. You will experience the full set of braindead KYC, AML, and Anti-Terrorist schemes to take away control of your funds.
Don't use Paypal. Bitcoin makes it obsolete anyway.
No it doesn't.
Try to sell stuff on ebay and include in your listing that you will only accept Bitcoin and see what happens.
even if paypal offered the best wallet service, i still wouldn't use them. no way i'm helping a multi-billion dollar company grow bigger and gain more influence so that normal people like myself will get fucked over.
Umm.. PayPal will be providing their own service, which they would secure themselves. PayPal has never been hacked, and they get attacked WAY more than any Bitcoin service out there.
You are oversimplifying things. Thefts and hacking do occur with Paypal accounts. Go to SR 2.0, and you can buy a bunch of hacked Paypal accounts for just around BTC0.2 or so. If so many hacks can occur with Paypal USD accounts, then imagine what will happen to the Paypal BTC accounts.
Paypal are already probably making there own Crypto currency should it all take off in the future.
I don't think that Paypal will be willing to take that risk. Thefts and hacks are very common in the Bitcoin sector. If some of the coins are stolen from the PP Bitcoin wallets, then according to the ToS, they will be forced to refund them. That will put them in a precarious position.
Umm.. PayPal will be providing their own service, which they would secure themselves. PayPal has never been hacked, and they get attacked WAY more than any Bitcoin service out there.
I don't think that Paypal will be willing to take that risk. Thefts and hacks are very common in the Bitcoin sector. If some of the coins are stolen from the PP Bitcoin wallets, then according to the ToS, they will be forced to refund them. That will put them in a precarious position.
I think having Paypal involved is terrifying. They would define an experience that would rob normal users of any control.
PayPal are known to freeze peoples assets and refuse to return funds, I wouldn't want to hold Bitcoin with them.
I couldn't agree more. Having Paypal as an intermediary will be similar to handing your coins over to MtGox in the past. You will experience the full set of braindead KYC, AML, and Anti-Terrorist schemes to take away control of your funds.
Don't use Paypal. Bitcoin makes it obsolete anyway.
I don't like PayPal any more than the next guy, but I do think it's in their best interest to provide some services related to bitcoin.
They could make cash from the fluctuations in Bitcoin's price, as opposed to transaction fees. This would force them to create an exchange and act as a wallet. This would not only help PayPal business wise, but it would help the people who are interested in Bitcoin get involved that aren't too sure about about digital currencies. If they don't do it, they'll be out of business from someone that will.
Exchange/Wallet combination idea comes from http://www.panture.com/why-paypal-should-integrate-a-wallet-service-for-bitcoin/
Exchange/Wallet combination idea comes from http://www.panture.com/why-paypal-should-integrate-a-wallet-service-for-bitcoin/
You would trust Paypal?
I have a few hundred dollars on my PayPal account at all times, so sure. I mostly use it for buying though, so I'm aware that they don't treat their sellers too well. (I know how people charge back with virtual currencies and PayPal always backs up the buyer) Hopefully they will fix this policy and advance. Do I think the board members of eBay are smart enough to do this? Maybe. I would give it some time though as the only person on that board with a little bit knowledge about Bitcoin is Marc Andreesen.
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They could make cash from the fluctuations in Bitcoin's price, as opposed to transaction fees. This would force them to create an exchange and act as a wallet. This would not only help PayPal business wise, but it would help the people who are interested in Bitcoin get involved that aren't too sure about about digital currencies. If they don't do it, they'll be out of business from someone that will.
There is not any reason or advantages to use PayPal to store BTC.
PayPal like holding your money in MtGox, you never know if it is there tomorrow
The whole idea of BTC is to control your own money;
It's not quite like MtGox, I think that's exaggerating it a bit. Perhaps they could do something where they don't have access to your private keys, but tbh none of that matters when you're looking at this from a business sense. It doesn't matter how much we hate PayPal for their sharky fees, if it makes business sense to do this they'll do it. There's no doubt in my mind that a lot of people would get involved if PayPal got involved, and we can use the services we trust. Nobody can stop them, if they can make money doing it they'll give it a go.
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They could make cash from the fluctuations in Bitcoin's price, as opposed to transaction fees. This would force them to create an exchange and act as a wallet. This would not only help PayPal business wise, but it would help the people who are interested in Bitcoin get involved that aren't too sure about about digital currencies. If they don't do it, they'll be out of business from someone that will.
There is not any reason or advantages to use PayPal to store BTC.
PayPal like holding your money in MtGox, you never know if it is there tomorrow
The whole idea of BTC is to control your own money;
They could make cash from the fluctuations in Bitcoin's price, as opposed to transaction fees. This would force them to create an exchange and act as a wallet. This would not only help PayPal business wise, but it would help the people who are interested in Bitcoin get involved that aren't too sure about about digital currencies. If they don't do it, they'll be out of business from someone that will.
Exchange/Wallet combination idea comes from http://www.panture.com/why-paypal-should-integrate-a-wallet-service-for-bitcoin/
Exchange/Wallet combination idea comes from http://www.panture.com/why-paypal-should-integrate-a-wallet-service-for-bitcoin/
You would trust Paypal?
I think having Paypal involved is terrifying. They would define an experience that would rob normal users of any control.
PayPal are known to freeze peoples assets and refuse to return funds, I wouldn't want to hold Bitcoin with them.
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