PayPal Integrating Bitcoin soon. - page 9.

virtualfaqs

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Quote from: bryant.coleman on June 22, 2014, 01:07:13 AM

Quote from: cryptnutter on June 21, 2014, 03:53:14 PM

Well, if Paypal touches Bitcoin I have no doubt what they will end up producing is a steaming pile of crap.

Agreed. But at the same time, it will make trading Bitcoins easier and more accessible for a large part of the population. See, most of the vendors in Localbitcoins charge a 5% premium. What is wrong with Paypal, if they charge a 3% commission and make Bitcoins easier to exchange? Grin

If PayPal doesn't have seller protection, it's going to be much higher then 3%. It's up to 30% right now I believe.

bryant.coleman

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Quote from: cryptnutter on June 21, 2014, 03:53:14 PM

Well, if Paypal touches Bitcoin I have no doubt what they will end up producing is a steaming pile of crap.

Agreed. But at the same time, it will make trading Bitcoins easier and more accessible for a large part of the population. See, most of the vendors in Localbitcoins charge a 5% premium. What is wrong with Paypal, if they charge a 3% commission and make Bitcoins easier to exchange? Grin

Brooker

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Quote from: zimmah on June 21, 2014, 05:13:28 PM

It's a bit pointless to have news articles without dates in my opinion

I feel like this is an old discussion.

Anyway paypal and bitcoin are essentially competing technologies/services. Bitcoin is currently smaller in size than PayPal but bitcoin has much more potential.

Bitcoin will leave paypal obsolete and we should not really care about them accepting or fighting it, because whatever PayPal will do, bitcoin will eventually render them obsolete so we don't need PayPal in the end.

How will it leave it obsolete? If bitcoin goes mainstream were still going to need payment processors. Maybe PP can just compete with bitpay etc.

Celroc Amaul

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Not to say that this isn't good news, but I'm a little curious as to how beneficial this really will be to Bitcoin. Would running a Bitcoin transaction through Paypal defeat some of the advantages of the Bitcoin protocol in exchange for the convenience gained?

Celroc

zimmah

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It's a bit pointless to have news articles without dates in my opinion

I feel like this is an old discussion.

Anyway paypal and bitcoin are essentially competing technologies/services. Bitcoin is currently smaller in size than PayPal but bitcoin has much more potential.

Bitcoin will leave paypal obsolete and we should not really care about them accepting or fighting it, because whatever PayPal will do, bitcoin will eventually render them obsolete so we don't need PayPal in the end.

SOAD

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"soon"? Not soon enough. I think Paypal is going to have to start accepting or dealing with btc at some point, so they're wise to be looking into it now.

keithers

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This is the land of wolves now & you're not a wolf

I have actually been receiving way more paypal marketing emails than usual. Ones for their credit cards, debit cards, "pay later", etc...

Hopefully in the near future they will be blasting out emails about BTC

eternalgloom

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I actually think this is a good thing, Bitcoin going mainstream.
No doubt that the price will go up when they launch it.

Also, Virwox will not be needed anymore. Yay!

cryptnutter

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Well, if Paypal touches Bitcoin I have no doubt what they will end up producing is a steaming pile of crap.

Este Nuno

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amarha

Quote from: greenlion on June 20, 2014, 10:54:14 AM

Paypal already has a pretty much turn-key solution available to them if they decide to acquire Coinbase. Getting bought out is a very viable endgame for a VC-stage company, and there are business relationships in common between the two organizations already.

Actually yeah, why doesn't anyone talk about this as a likely scenario? I hadn't even thought about it but now that you mention it I can almost guarantee the VCs have this in mind almost exactly. They know how they multiply their investments.

tuanvie

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paypal funds often suspend,
I was not too happy with paypal, because it was 2 times my account is locked and I lost money,
so if BTC and may relate bgus paypal, but paypal should be wise again to the user, the user is often impaired by their

and most feared many scammers on paypal

RepublicSpace

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Now all those people who say that PayPal is more convenient and less complicated than Bitcoin can stfu

virtualfaqs

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Quote from: gondel on June 21, 2014, 05:49:13 AM

Hello,
Sorry for the noob question, but i never used paypal to sell or buy BTC, I only used paypal to get paid in Odesk:, so what is this chargeback with paypal? How can someone scam you buying your BTC with paypal?Thanks!
BR
Gondel

Send you PayPal payment. You send BTC to buyer. Buyer does a chargeback from credit card. Your BTC got stolen. That's a simple way of putting it.

magnet007

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if they hapen to integrate btc,surely it's good news...

Acura360

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Here´s a good Overview:

My assessment in terms paypal:

The end of this year when Amazon also goes into the bitcoinboat

Wink

DARKANGEL6415

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ADAMANT — the most secure and anonymous messenger

Quote from: CrackedLogic on June 21, 2014, 05:22:58 AM

Lol, PayPal has finally given up,
but if they do integrate it, will you use PayPal?

yes i would use paypal more

Bellator

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awesome news!!

another big company getting into btc! Shocked

gigEls

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This would definitely be good news!

lihuajkl

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Quote from: beatljuice on June 20, 2014, 10:51:16 AM

If there is a charge-back, PayPal will expect you to cover it. If you don't they freeze/close your account same as if it were fiat. Not sure what you think would be different.

PayPal will certainly incorporate all the features related to fiat into BTC. Such service is called escrow. The buyers pay BTC to merchants through PayPal.After the buyers receive the products or service and confirm the buying, the merchants get the btc payment.Paypal made decision of charge-back.

picolo

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Quote from: virtualfaqs on June 20, 2014, 02:15:50 AM

bitcoinmania.eu/paypal-bitcoin-integration-coming-very-soon-says-ebay-ceo-international-business-times-uk.html

No one in their right mind would use BTC to pay for anything on PayPal. The credit card chargeback protection has always been the front lines of consumer protection from seller fraud on PayPal. Buyer wins 99% of the time.

Most likely there's no way to tell how the buyer is paying. However if there was a way to require BTC payment, that would be a game changer for sure. Because PayPal's policy is not to interfere with intangible goods. Buyer is basically out of luck. Scamming will go the other way as sellers receiving PayPal payments will be secure from chargebacks.

Then there's the issue about withdrawls in BTC and having your PayPal account hacked.

Who will receive BTC payments? PayPal or the seller? It will be interesting to see how this will work at the end. Either way there's probably going to be scamming as usual.

We will see how they do it; they can find a way to make it mutually profitable for everyone

Topic: PayPal Integrating Bitcoin soon. - page 9. (Read 11258 times)