PayPal and Bitcoin

Discussion in Payment Methods started by troutski • Oct 1, 2014.

  1. troutski

    troutskiWell-Known Member

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    Paypal recently announced a partnership with three separate services that deal in Bitcoin. This allows PayPal users that own Bitcoin to use the cryptocurrency for digital goods purchases only. It's a nice step forward for the currency, but PayPal is likely using this as a gimmick to draw customers away from Apple Pay. Any development like this is good for Bitcoin, but PayPal likely won't benefit that much from this new feature. Do you plan on using this feature if you have Bitcoin?
     
    #1Oct 1, 2014
  2. vennybunny

    vennybunnyMember

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    I actually bought some more bitcoin because of this news. :) Of course, after the initial rise, the prices dropped again. But I still think bitcoin would be adapted massively in the coming years. :)

    I agree that it is a way to try and stay competitive with other payment methods like Apple pay. I'm on Paypal's side on this one. :)
     
    #2Oct 9, 2014
  3. DrRipley

    DrRipleyExpert

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    I think this is great news. People have always found it problematic exchanging between bitcoins and paypal, or any other online currency with paypal for that matter. Still, this at least is a very good step towards the right direction, in my opinion, both for Paypal and Bitcoin because it further legitimizes BC while Paypal gets even more exposure from a niche market that probably wouldn't recognize them without this action.
     
    #3Oct 9, 2014
  4. Denis Hard

    Denis HardWell-Known Member

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    You are spot on.

    I believe Paypal isn't doing this because they recognize the worth of bitcoins. They just want to be the first to accept bitcoin as some kind of currency before their competitors do so because then they'd lose some customers. We will see them accept more crypto-currency in future. I'm sure of that.
     
    #4Oct 9, 2014
  5. pennylane

    pennylaneActive Member

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    I think this is a good step for bitcoin regardless of paypal's intentions. I have briefly looked into bitcoin and there doesn't seem to be an easy way to pay/convert them for quick use. That kind of put a damper on my urge to buy some. If paypal gives me that option I will definitely be buying some soon.
     
    #5Oct 9, 2014
  6. vennybunny

    vennybunnyMember

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    Have you looked into Circle? It's fairly easy to convert bitcoins from there. :)

    Log In

     
    #6Oct 10, 2014
  7. etc

    etcActive Member

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    Even after the publication of paypal, bitcoins value seem to be not appreciating still. I have few bitcoins lately and bought them all for Stellars.I will buy bitcoins later once i see it retrace back.

    People in the bitcoin community like peivacy though so paypal won't be of use to them.
     
    #7Oct 10, 2014
  8. Sly14Cat

    Sly14CatActive Member

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    I'm still waiting for Bitcoin to get out of it's recession before I go buying any. Even then I couldn't even afford one at the moment...
    It is good to see that after it's slow drop to $300 it's finally caught up and I think it's worth about $390CAD or something when I checked this morning.
    Cool that PayPal is accepting it now though.
     
    #8Oct 11, 2014
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