Very awesome response when asked about BTC
http://www.bloomberg.com/video/paypa...jHAJGNB6w.html
The gravity of such potential is probably more vast than it might seem. . .
Agreed! I can't believe what I just watched. If PayPal allows BTC to be a funding vessel, central banks will have a big problem on their hands...lolOriginally Posted by Yieu
I'll say it again...if Paypal accepts BTC. We win.
Where's the BTC is a bubble guys ? This should help for the pricing equilibrium and structure.
Yep, saw this yesterday at the other forum and I agree this could be huge for long term stability.
Paypal is in a tough spot. If BTC becomes commonplace the reason to use paypal, and their fees, is gone. However they have built an infrastructure to allow their large userbase to move money from bank accounts back and forth and could survive nicely by being the best way for people to move between USD and BTC.
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BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq
And it could be huge for short term volatility. . .
bump
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I would suggest that PayPal would still be valuable, because they could offer/guarantee instant balance transfers, refunds, escrow services, insurance, et cetera. The sort of things that credit card companies do that BitCoin doesn't handle natively.
The point is to take advantage of instant balance transfers to your paypal account so you can purchase BTC instantly from what they already have in their account.
You don't understand what is going on here. Paypal will offer an exchange service like Gox...eventually. The supply is doing to dry up and demand will rise quickly.
Here's an interesting point. If the supply dries up, it would not be very much in demand because it would not be feasible to use for wide-scale transacting due to the low number of coins. People tend to counter that by stating it is divisible to 8 decimal places, but that is flawed because it means 1) the economy will be so unbalanced due to early miners having so much (not a problem by itself, but with #2 it could be); and 2) if the supply really does dry up, then those early miners will be left with a lot of something no one wants, because there isn't enough of it for them to have any due to supply drying up (if that can even happen, because trades are two ways) or the price going to where it is impractical for them to purchase it to use to transact.
One possible solution to such a situation would be a devastating crash, because such a "drying up" would signify the price being higher than the value. The value may actually be lower due to the low number of coins, because not as many people can use the system without crowding.
I want it to succeed, but it just seems like there are some flaws due to this being the first design for a cryptocurrency. It seems like a design that remedies some of these problems might be more widely adopted, especially if they confirm transactions in less than 10 minutes.
I just realized that what I wrote tends to point toward Litecoin or similar as a solution, but that wasn't my intention -- it was just to point out perceived flaws.
Last edited by Yieu; 05-02-2013 at 09:07 AM.
and here comes the charges for money laundering. anyways, was just discussing that whoever establishes an amazon using bitcoin, will be in big business bypassing these internet sales taxes on the horizon.
Paypal is an easy way for the government to start taxing you on your bitcoin. They already 1099 you if you do over a certain amount every year. You have to give them your name and Social "Serial" Number when you open an account.
I'm not in the Bitcoin game, but I'm not convinced that Paypal will be a good ally for people who want to break free of government constraint and oversight.
exactly
I hope they do, because bitcoin is really sagging right now. Could use a boost. I've never used PayPal, but from what I hear, them supporting this would result in a huge surge in Bitcoin prices.
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BTC: 1NiSc21Yrv6CRANhg1DTb1EUBVax1ZtqvG
So who's going to be the first to capitalize on a marketplace transacting in bitcoin for the specific purpose of avoiding internet sales taxes?
I am considering opening a bitcoin account to give my customers another payment option.
Insanity should be defined as trusting the government to solve a problem they caused in the first place. Please do not go insane!
To start, it would have to be offshore. And people who are offshore are already exempt from this proposed first round of taxing.
well, if it was a marketplace similar to ebay or amazon, you could decentralize the seller/buyer from the webserver, and yeah - have it offshore somewhere.
I would prefer that law wasn't passed forcing companies to collect rather than people finding the newest loophole. It would be interesting to see who is the first to do it though.
https://bitpay.com/
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