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Ebay's PayPal Starts Accepting Bitcoin As 'Apple Pay' Unveiled
On the day when Apple unveils "Apple Pay," enabling hackers to now get access not only to actor selfies but to their credit card numbers too; following smaller online retailers' lead - such as Overstock - the world's biggest marketplace, Ebay, has announced its PayPal unit will begin accepting bitcoin for payments. As Bloomberg reports, Ebay said at TechCrunch's Disrupt conference, "over the coming months we’ll allow our merchants to accept bitcoin. On the consumer side it will be a sleek experience."
As we previously noted, Overstock CEO Patrick Byrne's comments that "once we and some other major guys start accepting it things could change very quickly," and Ebay seems to agree, adding "we're at the right time for this, and to see how to propel it forward." Bitcoin prices have not reacted to this news as the virtual currency has become considerably more stable in recent months.
EBay, as the world’s biggest Web marketplace and operator of a global payments service, is the most significant business to date that’s embraced bitcoin. The move could potentially enable PayPal’s 152 million registered accounts to transact using the virtual currency, spurring wider use and acceptance of bitcoin, according to Gil Luria, an analyst at Wedbush Securities Inc.
“PayPal integrating bitcoin into Braintree is a very substantial development,” Luria said. “Not only will it make it possible for some of the fastest-growing apps to integrate bitcoin seamlessly, it opens the door for PayPal to integrate bitcoin into its main wallet functionality. If that happens millions of retailers will de facto be accepting bitcoin overnight.”
...
Ready said that tens of thousands of PayPal merchants using Braintree will be able to accept bitcoins if they choose to do so.
“We’re at the right time for this, and to see how to propel it forward,” Ready said. He said he expects to announce which merchants will accept Bitcoin in the coming months.
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Bitcoin has become more stable in recent months...
* * *
And now we have "Apple Pay"
- *'APPLE PAY' WORKS WITH NEW IPHONE 6 MODELS
- *APPLE SAYS APPLE PAY USES NFC, THE VERGE REPORTS
- *APPLE PAY WORKS W/ STORES SUCH AS SUBWAY, STAPLES, WHOLE FOODS
- *'APPLE PAY' AVAILABLE WITH MCDONALD'S, INCLUDING DRIVE THROUGHS
- *APPLE PAY WORKING WITH BANKS INCLUDING BOFA, WELLS FARGO, JPM
- *'APPLE PAY' ALSO AVAILABLE FOR MAKING ONLINE ORDERS
- *APPLE PAY WORKING WITH VISA, MASTERCARD, AMERICAN EXPRESS
- *APPLE PAY WORKS WITH CITI, CHASE, BARCLAYS, CAPITAL ONE, PNC
- *'APPLE PAY' AVAILABLE FOR DEVELOPERS TO MAKE APPS WITH
- *'APPLE PAY' TO BE OFFERED IN THE U.S. STARTING NEXT MONTH
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Big.
F***ing.
LOL!!!!!! Go ahead and use bitcoin with paypal. You will allow them to track all of your happy asses. They can now put a name/face with that 464763873493049083540985043985904850938509 bitcoin account. Bitcoin users will think this is a win lol.
All previous reserve currencies are controlled by the elite. Peer to peer currencies such as Bitcoin shows us the way out of this prisoner's dilemma.
A step forward is welcomed.
...unless you are walking on a plank.
unless you are walking on a plank.
Jump bankster jump.
"Bitcoin prices have not reacted to this news as the virtual currency has become considerably more stable in recent months."
Dropping from $1,200 to $465 in 9 months is "stable"???
Listen. Let's not cry over spilled "MILK". The reality is that the USSA Do-lar is voluntarily stepping aside as reserve currency and "BITCOIN" is now stable and you can pay a pal with it!
Score one for phoneStar and Gh0strider!
Fonystar = gh0atrider.... Not a big score...
Z'hedgers STILL hating on BTC. Whatever.
Deal.
Bitcoin is just a showcase of how clueless Gen x/y is.... Give me cash bitchz... that is completely anonymous.
For in-person transactions you might as well use bullion, no? However e-commerce did $100B+ last year and none of it was "cash".
Yeah!! And unlike bitcoin our benevolent gov can always print more dollars in case the ones we have get lonely.
USD forever!! Change never!!
no but seriously kill yourself
Seriously until BTC is backed by something it is nothing more than a digital, half-fiat set of numbers secured by the least secure place... the internet. A place where libertatrians believe is untouchable, but also a system well known to the NSA for quite sometime and that this could very well be obviously true as we now know 1 person owns controlling shares of bitcoin.
I like the idea but you guys need to build a fort and put your PM's where your mouth, or bitcoins, are. Something will come along to make bitcoin obsolete, it is the way new technologies work.
I welcome the change over central banks, but I own zero BTC, called both bubble tops and I still believe the price is way too high. I would rather have things that I know I can atleast make my last stand on/with.
Arable farm land away from major cities with clean natural water source
Livestock, animals, crops and all the fencing and guard animals that works with your land amount.
Usable skills and a family or community of like minded people with their own skill sets
Guns and ammo
Precious metals for protection of wealth
Bitcoin is backed by computational power , unbreakable encryption and huge amounts of electrical power being used to secure the network. It is also backed by leveraging the entire global internet.
Also , it is not Fiat , it does not exist by law or decree and it does not have a sovereign nation backing it with debt or threat of violence.
The fact that there is nothing physical backing bitcoin is actually advantageous , because there is nothing physical to confiscate. Bitcoin's are stored on a globally distributed ledger , so capital controls are impossible , they cannot be found by searches or metal detectors , they cannot be forged and they come into existance at a mathematically defined rate and they do not exist as debt.
This technology is nothing short of revolutionary.
Dropping from $1,200 to $465 in 9 months is "stable"???
Umm, no dipshit. Please re-read the section you emboldened where the author writes "the virtual currency has become considerably more stable". If we consider that there is more than one level or degree of instability, then we can (most of us) logically infer that something unstable can be more stable than it previously was. You can't comprehend simple english but you think you understand bitcoin heh. Kinda like those people who know all about gold but prefer to put it all on USD ey? Kinda exactly like that, ingnants be hatin.This is fucked up. Neither ebay nor paypal reimbursed me when I got scammed on a mining contract. Fuck you both!
Bitcoin: the super anonymous, super subversive game changer.
LOL.
It's just the cashless system, you know who wants.
The NWO thanks you for playing.
The NWO thanks you for playing.
And the Bitcoin community thanks you for not playing.
Please stop antagonizing the persons that claim they are awake but want to replace one fictitious form of enslavement with another
You can't fault them for not recognizing they are embracing the same shit in a different shape
They probably think the Gordita is a brilliant new revolutionary product from Taco Hell or that it is even food
As PT Barnum said, "There's a sucker born every minute"
That was back in his day. Now there's 4.3 suckers born every second
The NWO thanks you for playing.
There is no trace and you can convert into hundreds of other cryptos and gold.
Listen. Why be bitter? Embrace the future. If you are a "ZERO" then you cannot be critical of "THE COIN".
Let me be real clear here. If you agree to "GOLD", libertarianism, freedomz, USSA superiority, then you "MUST" accept BitCoin into your "FINANCIAL" landscape!
I concur.
Zero Resistance.
Until somebody can explain how you can pay fo something online in an instant with gold then bitcoin is far superior.
Cave Dwellers , an answer please.
For Americans it ain't easy. I don't think we can use phyzz in any way like that.
Peter Schiff opened a service to do just this a couple years ago. But American's aren't allowed to use the service due to government scumbags, as usual.
http://www.silverdoctors.com/peter-schiff-opens-gold-bank-americans-need-not-apply/
You deposit some of your phyzz in his vaults and his bank issues you a debit card that can be used against the daily spot price amount of your phyzz in order to make card purchases or ATM withdrawls for cash anywhere in the world in any currency.
Another link: http://blog.tenthamendmentcenter.com/2012/08/peter-schiff-opens-hard-money-bank/
And that's the way to do it...however, American or not, you would still be at the mercy of a seriously criminally manipulated bullion market.
Until all this crony criminal bullshit stops and the banksters are brought to justice (or brought to a guillotine), and fiat shit paper Ponzi schemes are outlawed, and we go to some kind of phyzz-backed, crypto type monetary system then none of this is ever going to work very well.
But the end is coming...we all know that...we just have no clue what it will bring and what type of system will be forced on us after the collapse. Hopefully not too many millions of people will be sacrificed and WWIII doesn't break out because of it. I'd like to spend some of my phyzz on some stuff one of these days ;-)
Party like and animal. Die like a vegetable.
Your answer is fucking shit.
No /sarc either.
Is that the best you can come up with ?
I heard blowing gold filings down an ethernet cable worked , but only until the ketamine wore off.
okay greenhorn, you come up with something then or else shut the fuck up. 17 weeks on the site and you're starting out nicely as the next ZH douchebag with nothing to contribute other than unwarranted insults and bullshit. Apparently you aspire to be the next FoneStar of ZH then, huh? Or else you're just another troll. Either way, nobody is interested in your bullshit if you can't participate and contribute anything meaningful and just want to be an asshole. That's not what Fight Club is about.
..
I opened one of those Europacific accounts ... being Australian I was not excluded. The problem is that the only way to get money into it is via international SWIFT which costs $25 per transaction and takes a week to 'clear'. No good for everyday payroll use. Great if you have a lump to drop in every 6 months ... but that leaves you relying on your original bank. The paperwork required to open the account is the very same stuff your local bank demands. The only advantage is having your "cash" held as gold and thus when we wake up to overnight devaluations etc .. you are somewhat protected.
Back to stacking and Bitcoin. The simple things are often the best.
They've closed all the doors.
Bitcoin is not about anonymity. It is the inability of the governments to "create" it out of thin air, the non-reversible nature of the transactions and protection from bank assisted forced taxation that makes it better than FIAT currency IMO.
The internet is for porn.
There are services already that can "tumble" your bitcoin. And new technolgies in the works to do this in an automatic/trustless way. Look into Dark Wallet, DarkCoin, and Zerocash.
Listen. Zerocash is the "Karma Sutra" of crypto!
Bitcoin "normal" adresses start with 1.
You could see from this year BTC adresses starting with 3. They are multiSig (multiple digital signature adresses needed).
If you want to know what this means, learn. If not, keep on.
Go and break a public key of a BTC address.
Please, go and do it.
Then, once you've got the private key, identify the user personally.
Then do it millions of times until you've got what you want.
Good luck.
Little BIG Horn ... Sitting Bull(s) win for little while
No bump for Bitcoin as AAPL approaches all time high
Yeah... it operates on a different model.
Back from the dead... Again...
Queue DOJ investigation.
Ebay sees this as a pure arbitrage opportunity. First, they begin by accepting bitcoins into their payment system. Second, the sui generis hype resulting from such a large online marketer accepting the crypto-currency causes a rally in Bitcoin. Finally, Ebay sells their now more valuable bitcoins for dollars, having found a handy way to cash in on the Bitcoin "play." It is an intersting take on the good old pump-and-dump.
yes, and the co-founder of Paypal has a bit of interest in Bitcoin:
http://www.zerohedge.com/news/2013-05-16/peter-thiel-gets-bitcoin-bug
PayPal was originally supposed to do what BTC does. That idea just ciouldn't stand up to authority.
But since Bitcoin has no center...
The center of BITCOIN is the C.
True.
The only true weakness of BTC is the 51% attack.
This attack is probably being performed right now silently (although many saying it is "very difficult").
For those interested, 2014 is the year of multisig BTC adresses.
Which year will be the year of the (mathematical) end of the 51% attack posibility? Make no mistakes here...
Ebay sees this as a pure arbitrage opportunity.
LOL... every scrap of good news is an opportunity for you guys to spin a new theory on why BTC is evil, evil, evil.
As if you knew what the bosses at Ebay are thinking.
Enjoy yourselves, while going nowhere.
And the way "you guys" jump to conclusions, you must be a little light on your feet.
I didn't say anything about Bitcoin being evil (or good). An arbitrage opportunity is an arbitrage opportunity plain and simple, and that's what companies do. If you think Ebay doesn't intend to make money off this, then I don't know what to tell you. Now whether it will work or not is a separate matter, but their plan is certainly to capitalize on it. They would not be in business other than to make money, or is it your opinion that the whole existence of Ebay is merely a Hegelian precursor to the realization of the perfect Bitcoin universe?
you don't seem to understand how large established businesses work.
yes, they want to make money, but it is not any sort of pump and dump, or some one-time opportunity to grab a small amount of $ - and this is a small amount of $ to them, the bitcoin universe is still negligible to them.
large businesses want to increase income streams, or else establish dominance in a growing market segment.
paypal wants to head off the possibility of ebay users paying each other directly with bitcoin, because if they do that, paypal gets cut out of the loop.
paypal still intends to charge their normal 2-3% rate to the seller for accepting bitcoin payments, even though there is no credit card charge involved when using bitcoin
I don't disagree with you about the market share. There can always be more than one angle going on. And perhaps I was not clear in my original statement. I don't think Ebay is trying for a one-time pump-and-dump; it's more of a protracted pump-and-dump that will ride the wave as long as it lasts.
As somebody who has worked with eBay in the software arena and met with eBay leadership on numerous occassions, I can tell you that their plan will be no different than say overstock.com. eBay is risk averse.. big time. To assume the risk of a falling BTC price for the chance to make an insignifant profit on a rising BTC price would be absurd to them. They will convert BTC at the time of transaction to dollars using BitPay or similar. Your theory might sound good if you were talking about a small player or an individual, but not the monster that is eBay.. no way.
by the way, despite liking many of the people within eBay, I am NOT a fan of the company or the way they run their business. Just for shits and giggles, I sold a 1oz silver round the other day to see how much I would keep vs pay in fees... between eBay and Paypal, shipping and materials (not even counting my time), I kept $16.87 after a sales price of $22.22. Needless to say, it is hard to make a profit selling silver $3 under it's then current spot price. JOKE.
yeah, looks like you would do better selling to a reputable local coin store, if it's not too far out of your way.
good comment and i like your avatar Mr Shucks
It also gets eBay into the news cycle and ramps up interest for them.
Hackers around the world are rejoicing ...
Translation: "I must undermine anything good related to Bitcoin."
Translation2: Oh Shit - The world is NOT flat .
Must.Discredit.Bitcoin
That shows how one dimensional you are assclown! I haven't put BTC down idiot. My comment has NOTHING to do with BTC idiot!
My comment relates to fact that hacking has become so common with online commerce that this just opens another door for them. (hackers)
Hackers around the world are studing BTC protocol together with other people.
You should be doing the same.
Apple pay - you own apple and pay and pay and pay
good job branding this
Screw this shit, I'm holding out for the new Google Glass Blink n' Pay system with that special Wink n' Pay app for, uh, that certain special class of street vendors.
Bitcoin , BTChez .......
https://www.youtube.com/watch?feature=player_embedded&v=pF7HxLCFMeY
All the skepticism and paranoia about cryptocurrencies will fade away as they become a viable medium of exchange over the interwebs.
Reality will prevail, and this decentralized digital currency will render centralization of all kinds obsolete.
Power to the people.
I thought Bitcoin was declared illegal currency or is it basically barter? Wasn't Bitcoin hacked and hoarders arrested etc etc. Why would there be trust in the CYBER currency? confused All this kind of makes gold look like a "B Relic" to younger generations.
Bitcoin was never hacked, you pipe-smoker. Get the cock out of your mouth for a few seconds to understand what you're talking about. I understand you went to a public school system, but for god's sake, do the world a favor and read once in a while. I'm tired of paying your welfare check.
I'll wave as I drive by you in my bitcoin-paid corvette zo6 while you're standing in line with the spooks for your welfare handouts that I paid for. Enjoy poverty lady.
mtgox was hacked, they created fiat out of the thin air and bought btc driving the price to 1200$ then withdrawing. Some ilegal marketplace was closed and some selling btc without complying aml rules are being trialed.
Obviously you need to know what you are doing when dealing with something a virus can steal from your computer. tip: trezor.
YOU are Fuckin plain stupid if you think the FED and the USgov is just going to sit around and let something like Bitcoin replace thier dollar ponzi.
They'll just move the goal post and you're all fucked.
Dart
Yes they can, if they trample the constitution.
Just like Equador....
Banned Bitcoin to make their own
Visa and MasterCard are fucked.
It doesn't matter if you believe in bitcoin or not -- the market forces are making it clear that 2-3% transaction costs are an order of magnitude or more too high, so via bitcoin or other methods you're going to see that transaction cost come down. There's no entrenched companies dependent on a 3% fee to survive in the cryptocurrency space -- but Visa and MC are dependent on those fees in the credit/debit space.
Their business model won't survive another five years.
They are dollar based.
So the pigs lets it happen.
They are all in bed together.
Bitcoin good or bad, Mark my words...
When Bitcoin starts getting to influential, the bankers/ gov/ fed/ barclays/ morgans will behead it to protect the "system"
Mark my words...
"The powers that be are omnipotent!!!"
"Give me control of a nations money supply, and I care not who makes it’s laws"
~Amschel Rothchild
... until they lose the control. It'll be a wake up call for justice.
If I switch my loot to Bitcoin, will I still be liable for unfunded pension funds and bailouts similar to GM and the last banking industry bailout?
noop, and you can retire by slowly withdraw from your bitcoin atm in thailand. ;)
that's the true trickle down economics.
Intuit payment network cost me 50cents not matter what size.
Wheras I get a 50 cent charge plus the % on credit card processing, and a monthly fee.
Apart from my diehard Amex customers, hardly anyone uses visa or mc anymore.
Weaning customers off their amex rewards has proven difficult though.
Take a look into Bitpay for bitcoin payment processing, 0 fees. https://bitpay.com/pricing
99% of the population wil NEVER use bitcoin and have no desire to! Visa and Mastercard are here for good. Vendors will never fuck with me when I pay with Mastercard. If I paid with bitcoin I have zero recourse.
The credit card companies will come up with their own cryptos if they ever feel threatened by btc.
This is actually my point. They're charging too much so the market is seeking other options, so in order to prevent loss of share they'll come up with a solution. That solution won't be letting them skim nearly as much as they had been, so they're fucked. Realistically they'll see transaction revenues reduced to perhaps a quarter of what they once were.
Hey, look on the bright side, if bitcoin does get taken up by 1% of the population, that's a 10x increase from the current situation ;)
The lack of built-in chargebacks in bitcoin offers contrast to the current crop of digital payment options. Bitcoin is more like cash or bullion payments: As a payer nobody else can stop a payment from going through and as a payee nobody can clawback that payment at a later date.
Centralized credit card companies will never create their own decentralized crypto currencies. What will they offer miners in order to protect the network from attack?
Everyone knows some form of crypto currency is going to replace shit notes issued by central banks , its just a matter of time till decentralized currencies stabilize and technology comes in to fix the issues they have, its just a war that shit notes can not win in the long run, shit notes will go the way of snail mail .
Like with any currency standard, when a price reaches a stable point, and user-ship rises, redemption plummets until the note is worth more in and of itself than its redeemable value.
Just like people stopped redeeming dollars for gold, they will stop redeeming bitcoins for dollars, its only a question of how long it will take . . .
"Just like people stopped redeeming dollars for gold"
HAHAHHAHAHHHAHAHAH!!!!!! fucking funny.
EXEC ORDER 6102
My point exactly
Payyyyyyyyyyyy!!!
Bitcoin has officially jumped the shark
Time to retire the B alongside the leather jacket in the Smithsonian
Does buying a Bitcoin get you a free brainwash session... uh, I mean a reprogramming of what you know about the laws of economics?
Seams so.
Bitcoiners are much like scientologists.
You can't accept that it's not a pyramid scheme, so keep stacking your paper rectangles turd-burglar.
Enjoy packing my groceries, boy. Don't put the eggs on the bottom like last time, either!
Ah, yes,
The big talking BTC magnate.
Shouldn't you be out waxing your Bugatti instead of trolling the interwebz.
LO Fucking L, douchenozzle.
Bitcoin Last Price: $475
Calling Fonestar.
damn!
that shit is fucking volitile.
The question is what do producers do with the non-producers.
Most people seem to think we shouldn’t euthaznie them.
That's fine let them do it, rinse wash repeat as the use of BitCoin increases. What you fail to see is the expansion of their market to the unbanked. Soon PayPal will hold BitCoin as it becomes more valuable than fiat. But if they want to arbitrage in the beginning that's great as more customers will be buying BitCoin with fiat to use on their purchases. It's all good.
let me guess...
you bought this load of shit pyramid scheme from the beginning and you went out and bought a bunch of computer shit to "mine" with to try and get rich quick?
Right?
Wow you're psychic. I mean psychotic. Idiot. Don't buy any BitCoin I prefer not to associate with fools.
Hey, I told you already, get back there with that mop and clean those bathrooms! And remember to brush the skidmarks out of those toilets!
Get used to hearing that lady. With your lack of foresight you'll do well as a maintenance worker. I won't let your family starve, though. I'll send you a few millionths of a bitcoin with my app as I drive by on my way to my Hawaiian vacation home. I feel bad for your kids, though. They're doomed with your lack of mental capacity.
Oh, I bought some of that "shit" to mine BTC with. Paid for itself in a month and now it's providing monthly gravy on top.
I am going to buy you a case of tissues (single-ply) to wipe your tears away when this thing really takes off.
Now get your mop and bucket and quit fucking around. The adults need to discuss the future that you will be wishing you were part of.
And I'm not going to pay you $15 an hour for this kind of work, either, jackass.
APPLE PAY only in U.S. and you have to buy an iPhone6 to be able to use it. Also the merchants need to install NFC devices. WTF.
It's the planet of the apes, and the apes are speaking (commenting)...
http://i.imgur.com/K8tggIZ.jpg
Too bad you ladies don't understand technology, but it will be nice to buy that new house with bitcoin while you slaves work for Uncle Sam. Some people love their enslavement.
You're more idiotic than I thought, but then again, as Einstein once said,
“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.”Bye bye paper rectangle lovers. Enjoy consoling each other over your love of poverty and lack of vision.
I like paper rectangles because skinny single moms do quite gymnastic things to obtain them.
Listen. You're going to be "CAUGHT" on the wrong side of the decimal place!
The NSA has been busy recently but eventually they will have reached their quota of overthrowing governments for the quarter and then they will focus back on manipulating the Bitcoin....
the question is if paypal will give you FIAT for bitcoin. that is the only question. and somethow , i don't think they will give you unlimited cash for bitcoin.
if they did, this could be very bullish for bitcoin as peeople can cash out hundreds of millilons of dollars of bitcoin without selling on the open market.
think 'dark pools' of soros for bitcoins.
as far as paymetns---there is not need for paypal in order to send bitcoins. bitcoins is a paypal replacement system FOR BITCOIN TRANSFERS. if paypal takes your bitcoin and sends dollars or gives you dollars, THEN THEY ARE BUYING YOUR BITCOINS as X coversion price.
paypal will dump the bitcoins the second the transaction is complete. This is bearish for btc.
Short the bitcoin then. Double dog dare ya.
I was really interested in Bitcoin for Black Market retailing, until each and every douche bag site ran off with everyones Bitcoins! I did not lose anything, I was just doing research. It's not a viable currency, 'cause they can take it from you. Period!
You did 'research'? WTF? Dude, you don't keep your bitcoins on a 'site'. Keep them offline on a thumbdrive or someplace secure. I weep for the future of your children if perusing the equivalent of Reader's Digest qualifies as research. Nobody can take your bitcoins if you've done some real research.
Economy is a complex system. Bitcoin is the lightning bolt and the wind that will morph into something much bigger.
I can send USD to my PayPal, pay their fees and send GBP to my cousin in Wales or EUR to my sister in Roma. Someday I guess I can send Bitcoin to Paypal, pay their fees and send funds in various local currencies, perhaps my cousin can choose to withdraw his paypal funds as Bitcoin... That would be convenient. Much of this is already available, I pay about 1% fees using Coinbase or Circle. PayPal can market to the idiotic segment that will pay the higher fees and, who knows, maybe profit from it. How would any of this affect Bitcoin haters, why would they care how other people move their money around?