I had never heard of Webmoney, but it was described on here as the PayPal of Russia. I don't yet fully understand Webmoney's system and how Bitcoin plays into it, but would it make business sense for Paypal to do something similar, aside from doing just to stay relevant in the future? If so, is it unreasonable to think they would?
Bitcoin is a competitor to Paypal.
No, its not, their potential competitors would be bitpay & co.
If you think Bitcoin and Paypal are not competitors....I don't know what to say. Just wow!
Is that supposed to be an argument?
The level of education required to refute your statement would take days. You're too far behind the 8-ball.
you're missing something here...
bitcoin as a currency and bitcoin as a payment system can be seperate.
webmoney has taken the option to assimilate the currency into their system...
bitpay is using the payment system (yes, competitor to paypal)
paypal can follow webmoney's lead or simliar, or, can cry about the idea of the bitcoin payment system being a competitor, or, can work out it's own innovative assimilation solution (EDIT one that could include making use of the lower transaction fees THEMSELVES in order to provide a better, cheaper service to their existing customer base... who they want to keep happy), or, work out it's own version of bitcoin (without the community, following, prior investment or groundwork already laid down).
OR, can stop crying, forget innovation, and try and kill it... which it can't... what do you think is the best solution?
I haven't thought this through in detail so I may have some errors, please correct me if I'm wrong.
The best solution is to kill it, which they absolutely can help do. Again, mass adoption is the key to Bitcoin's success. Paypal has the money and the clout to turn businesses away from Bitcoin through grimmie slander campaigns and supporting legislation that is counter to Bitcoin. But let's assume they wont do that, the next best thing is to just create your own...because crypto is awesome...and take the high road against Bitcoin and continue to slander Bitcoin as a "black market" only currency, that is volatile, slow and simply not fit for serious business.
Now again, they may flat out adopt Bitcoin, but that dosen't make it a smart move. Only time will tell.
EDIT: I have stricken my previous statement you quoted and apologized for it. That was rude.
Paypal could do all that (negative PR campaign against Bitcoin) and yet startups that utilize Bitcoin could still pop-up. That's how I think about it.
Yeah, but they are the minority. Wouldn't make any difference as it relates to mass adoption. None of this says that Paypal would actually be successful in these attempts, they are merely possible scenarios. But it's not hard to see if say, Paypal, eBay, Google and Amazon (who recently snubbed Bitcoin with it's own..whatever that is) were to align against Bitcoin. All you have to do is scare regular people and mass adoption, at least in the US, is all but dead. Given the difficulty level there is for even buying bitcoins, now add to that the difficulty in spending them. Sheesh...that's a hard mountain to overcome.
