PayPal partners with Bitcoin ? You mean they're going to take it over

jbreher

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lose: unfind ... loose: untight

Quote from: flipme on September 28, 2014, 05:05:53 AM

They will be able to control the price of Bitcoin.
Its practically a takeover and theres nothing you could do about it.

About that missing step in your 'A implies B implies C implies ... implies PAYPAL KILLS BITCOIN" - you know - the one that would be labeled 'and then a miracle occurs', if only it were present? - you might want to work on fleshing that particular part of your thesis. It's a little embryonic.

bitsalame

donator

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Preaching the gospel of Satoshi

Wake up call, 85% of world's bitcoin trading volume is in China.
Forget about Paypal, the western world is at the mercy of the chinese.

newyorker91

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The first post is a complete misconception. There are too many factors and PP simply cannot do anything to regulate the price of btc. Wake up. Also their business is dying slow and steady with new payment systems like stripe and dwolla + their customer support is just disgraceful. I personally know a few people who stopped using their services including myself. Give them a few years and you will see how they will shut down. You can only thank eBay for pp being working right now. Look it up how many of total pp transaction are coming from eBay. This topic makes no sense for me, don't say that some money transmitter even such big as pp can regulate a price of currency that is 100% decentralized. Just read it over and over.

Nerazzura

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Quote from: flipme on September 28, 2014, 05:05:53 AM

I just thought about the PayPal hype again.
PayPal will be able to collect a lot of Bitcoin now, without driving the price.
Paying out in fiat will make them the biggest fiat exchange at all, over some time.
They bring more liquidity into the market than any other player.
Its a very clever and well thought out move.

In the end it could only mean one thing:

They will be able to control the price of Bitcoin.
Its practically a takeover and theres nothing you could do about it.

The United States government itself through the finance department does not actually prohibit the use of Bitcoin currency. Only, it will not guarantee when sendainya Bitcoin users at a disadvantage, as the price falls too deep and become a victim of theft Bitcoin. It is the basis for consideration of eBay along with PayPal before Bitcoin actually received in their e-commerce services worldwide

flipme

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Quote from: Lethn on September 28, 2014, 08:30:46 AM

They can't 'update' the Bitcoin protocol, it's open source and I have a copy of the very first version of the source code that was released, so if anybody tries anything they won't win, you need to do more research into how Bitcoin actually works, you sound like one of those numpties who think that you can buy up the Bitcoin market or it's a CIA/NSA plot.

Corporations and governments are not all powerful, in fact, they're morons.

Sure dude, have a Fanta! Everything is alright.

Lethn

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They can't 'update' the Bitcoin protocol, it's open source and I have a copy of the very first version of the source code that was released, so if anybody tries anything they won't win, you need to do more research into how Bitcoin actually works, you sound like one of those numpties who think that you can buy up the Bitcoin market or it's a CIA/NSA plot.

Corporations and governments are not all powerful, in fact, they're morons.

HeadsOrTails

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Quote from: Lethn on September 28, 2014, 05:31:50 AM

Considering the amount of utter hatred a lot of Bitcoin users have for Paypal I don't think the scenario will play out as you imagine and lets not forget that Bitcoin is open source and there are plenty of altcoins out there, I personally think software like Open Bazaar is going to be used more for trading in Bitcoin than Paypal/Ebay and those bastards at Paypal have been boasting and dragging their feet about Bitcoin adoption for months which makes me think they're going to do a shitty job implementing it.

Oh, did I also mention that they're trying to partner with GoCoin which has Brock Pierce in it's staff? Yeah, things are going to go really well for them, it's going to be fun to watch.

You think they just decided to implement BTC at PayPal recently? Dragging their feet is not my impression of how a company who specialises in payment processing approaches these matters. They didn't cave in to pressure. Now they're going to see first hand how to tweak BTC to their own ends. Oh it won't be called Bitcoin, but to think PayPal or even Apple turning around is from the minuscule amount of money they're losing in the big picture...

You know how Google, Apple, Microsoft etc made it big? Not by letting the little guy win. If PayPal becomes the de facto cryptocurrency service provider then who's to say they'll implement updated BTC protocol? Maybe they'll find mining too expensive when it can be secured for less money. You know, business.

It's going to be fun to watch only in the same way the weddings from Game of Thrones was fun to watch; the outcome was a massacre. Just not for the little guy.

fryarminer

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Quote from: flipme on September 28, 2014, 05:05:53 AM

I just thought about the PayPal hype again.

First mistake.

Febo

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However you look they will try to make a profit out of it. People will use what will be easier and cheaper for them. If paypal will not be one of them, then will start losing users.

HeadsOrTails

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Quote from: Silly Money on September 28, 2014, 06:42:38 AM

This smells like a troll / fud post to me. Paypal won't take it over. They'll just be a payment processor at the most just like any other.

You know, I'd love for talk to be an integral part of BitcoinTalk again. Satoshi once said it was unwise for Wikileaks to adopt BTC at that juncture. If it were anyone else that post would've been shot down as FUD or trolling.

Can we talk about the grey clouds instead of pretending it's blue skies for eternity? Anyone who thinks Bitcoin has overcome all the challenges needs to remember Satoshi's quote (paraphrased); that Bitcoin is a grey metal, which is not entirely special. Can we entertain the premise that corporate interests can copy this technology and use it to their own ends, and if you think the Bitcoin community outweighs corporate America then think again; the community is no more useful in avoiding all debate than college protestors knowing their pickets change the world.

I think we should discuss this rather than call troll. But let's see where we stand....

HeadsOrTails

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Quote from: flipme on September 28, 2014, 05:05:53 AM

They will be able to control the price of Bitcoin.
Its practically a takeover and theres nothing you could do about it.

This is the only conclusion I have come to because the corporate world doesn't partner with such outmatched competition. They keep their enemies close. This is not good no matter how you look at it, IMO.

Silly Money

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This smells like a troll / fud post to me. Paypal won't take it over. They'll just be a payment processor at the most just like any other.

Q7

sr. member

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Quote from: flipme on September 28, 2014, 05:05:53 AM

They will be able to control the price of Bitcoin.
Its practically a takeover and theres nothing you could do about it.

How is that going to happen? This is a pow system plus whatever bitcoin they hold belongs to the customer not them

Daniel91

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Quote from: flipme on September 28, 2014, 05:05:53 AM

I just thought about the PayPal hype again.
PayPal will be able to collect a lot of Bitcoin now, without driving the price.
Paying out in fiat will make them the biggest fiat exchange at all, over some time.
They bring more liquidity into the market than any other player.
Its a very clever and well thought out move.

In the end it could only mean one thing:

They will be able to control the price of Bitcoin.
Its practically a takeover and theres nothing you could do about it.

i don't think so.
Paypal may influence price of bitcoin partly but...
Price of bitcoin is determined mostly by users, if more bitcoins is sold price go down, if most bitcoin is bought, price go up...
like in every other market, there is no mystery here.
If big merchants start accepting bitcoin this year, we will again see how price of bitcoin going up.

Mr Tea

sr. member

Activity: 270

Merit: 250

Quote from: flipme on September 28, 2014, 05:05:53 AM

In the end it could only mean one thing:

They will be able to control the price of Bitcoin.
Its practically a takeover and theres nothing you could do about it.

Lol. Oh noez, better get rid of all your bitcoin and stop posting on these forums since bitcoin is now obviously doomed Roll Eyes

.

flipme

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The diversity of the market place they bring with them is their advantage.
Maybe Alibaba will turn around and follow suit soon.

maurya78

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Plus PayPal will all kinds of regulatory and business reasons why they will not be able to bulk hoard btc and manipulate that market
Ebay at the end of the day is a listed company that needs to create shareholder value

Mellnik

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Shitpal can't do shit.

Lethn

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Considering the amount of utter hatred a lot of Bitcoin users have for Paypal I don't think the scenario will play out as you imagine and lets not forget that Bitcoin is open source and there are plenty of altcoins out there, I personally think software like Open Bazaar is going to be used more for trading in Bitcoin than Paypal/Ebay and those bastards at Paypal have been boasting and dragging their feet about Bitcoin adoption for months which makes me think they're going to do a shitty job implementing it.

Oh, did I also mention that they're trying to partner with GoCoin which has Brock Pierce in it's staff? Yeah, things are going to go really well for them, it's going to be fun to watch.

flipme

hero member

Activity: 2170

Merit: 640

Undeads.com - P2E Runner Game

I just thought about the PayPal hype again.
PayPal will be able to collect a lot of Bitcoin now, without driving the price.
Paying out in fiat will make them the biggest fiat exchange at all, over some time.
They bring more liquidity into the market than any other player.
Its a very clever and well thought out move.

In the end it could only mean one thing:

They will be able to control the price of Bitcoin.
Its practically a takeover and theres nothing you could do about it.

Topic: PayPal partners with Bitcoin ? You mean they're going to take it over (Read 1301 times)