Topic: PayPal VISA and other companies with BTC. It is good? (Read 1599 times)

Let's call it Visa debit card for digital currency.

Conquer everything! Go Bitcoin!

The more Bitcoin gets used the better.

But that's not how the paypal visa works. It is, by all accounts, a regular credit card with a credit limit. You pay it off by transferring funds to your account by a certain date. I'm sure paypal would accept BTC to pay it, but all paypal is going to do is convert to USD to avoid volatility risk. So... what is the point?

Yes, if this is way to the BTC stability is good step forward.

Define 'good' and 'positive'. Those words mean different things to different people in different situations.
If I could fund my PayPal account with Bitcoins and pay any other PayPal user in their currency of choice, that would be convenient. If I could receive funds from others through PayPal and withdraw those funds as Bitcoins, that would also be very convenient.

I agree, I am seeing mixed opinions on PayPal accepting because people believe we should be pushing the payment systems we already have but the thing people do not seem to be realising is that PayPal is already very popular with so many people all over the world and having them accept bitcoin is one way to get the word out to those who either are unsure about bitcoin or do not know much about bitcoin. This in my opinion if PayPal do not start making silly policies could be a great thing for bitcoin.

Lots of people against this, saying we need to promote our own crypto payment processors, like BitPay / Coinbase etc.

But the thing is, PayPal already has a huge user base and it's a household name. So for adoption, it would help a great deal, if we could target that market.

Higher adoption = higher price and that is good for my pocket.  

It will be good, but will influence on price. so all this will be good for BTC and make it more stable, but will make price of BTC lower since there will be more chances to spend them.

It doesn't take away the _option_ that BTC gives you to stay anonymous and be your own bank. If you buy something from big corporations, you need to play with their rules in any case. With BTC you always have a way to stay anonymous and use your BTC for small retailers etc, if you wish.

Corporate adoption doesn't take away anything fundamental from BTC.

I'm not so confident in the positive outcome.
All banking and payment monopoly is based on regulation and law.
Anti money laundry law, consumer protection against fraud, .... all those buzzword are made to raise the entrance price of new player in the payment industry.

Monopoly is established.

For working in payment industry one way to kill competitor is to force partner with him and force him to respect market standard !

The problem of bitcoin is that it doesn't care about use of money. It's just a media to transfer value, whatever the aim of the transfer.

VISA and all other are all linked to TRACFIN and global survey of money transfer.

So working with them is a dangerous game.
And Bitcoin can just be killed by communication: "look we tryed to integrate bitcoin in our solution, but it appears that it cannot satisfy our security standard about ....."

Also working with those player has the side effect of loosing the little freedom of use bitcoin introduced. Those infrastructure like VISA are designed to shift the control of money from owner to them.
Using a VISA credit card means you accept that 100% of your everyday habit and use, and also wealth estimation become strategical information for VISA and partner (government and law enforcement agency).

Bitcoin was reducing the cost for alternative use of money, you don't need to create offshore company, building complex scheme for obfuscating your money usage.

Working with such partner will report the same problems in the bitcoin world.

For example, i'm always feeling self mitigate when big retailer announce they are now accepting bitcoin.
Its an easy way to build a file of bitcoin holder that you can easily transmit to gov agency.
Because they now put a name on bitcoin holder.

That is right.

All publicity is good publicity and all adoption is good adoption. 

If Visa, Mater or other credit companies adopt digital currency, it is good for all of us.

Paypal + BTC is very good... 

Both are too cumbersome and slow for someone who wants to get BTC immediately to purchase something.

With more adoption the word will spread faster, it's certainly good for bitcoin health.

We already have payment processor such as Coinbase and Bitpay. They only charge 1%. If Paypal wants to compete with them, its fee cannot be too high.

That's probably right.  But for the shortterm, Paypal accepting or supporting btc is a good thing i think.  The exposure will be great, and, as you say, hopefully many folks who find out about btc through paypal will end up ditching paypal for the "pure product".

QFT One should be able to buy BTC instantly when needed with a cell phone. Preferably only by just putting the sum and pressing ok. Or why does someone, who has linked paypal/credit card in phone need to worry about conversion at all?

Then when retailers give a discount from BTC buys, even normal people would use it and slowly start to hold it.

This should happen *now* because it will be alot harder after one/two years when Apple gets their system up and running.