PayPal starts taking steps towards Bitcoin integration. - Polidicks

[IMG]http://i.imgur.com/TmJMIzA.jpg[/IMG] [QUOTE]PayPal and its parent company eBay are warming up to Bitcoin, but they’re doing it oh so carefully. On Tuesday, [B]PayPal announced that it was partnering with Bitcoin processors BitPay, Coinbase and GoCoin to allow its merchants to accept the cryptocurrency for digital goods like online games and downloadable songs.[/B] It’s a second baby step for the payments giant toward full Bitcoin adoption after the company’s Braintree unit, a mobile payments provider, said earlier this month that it was working on a feature that would let customers of businesses like Uber and Airbnb pay with Bitcoin. Ellison did not say which merchants would be using the integration immediately and said that PayPal would receive a fee from the Bitcoin processors for every referral, though he did not disclose the amount per transaction. [B]The Bitcoin feature will initially be available for North American businesses only and should be available in the coming weeks.[/B][/QUOTE] [URL="http://www.forbes.com/sites/ryanmac/2014/09/23/paypal-takes-small-step-toward-bitcoin-partners-with-cryptocurrency-processors/"]Source.[/URL]

Rad, now I can use the worst currency in existence through the scammiest international monetary service available

This is good news for Bitcoin.

I'm not that bit on bitcoin but isn't there something about each one growing in file size exponentially until each one is gigabytes large?

Now I can have all of my bitcoins confiscated for "suspicious activity" too!

I'm surprised, paypal won't be able to rip off tons of their users through chargebacks if they integrate bitcoin.

Wait what's the hate for PayPal?

Next step: Cosby Coin support

[QUOTE=RocketRacer;46059135]Wait what's the hate for PayPal?[/QUOTE] Beats me, I don't mind it.

[QUOTE=Excalibuurr;46059158]Just the loud minority facepunch users who ran into trouble with PayPal when buying gas masks through shady Russian websites.[/QUOTE] Or you know, multiple game developers including Notch having their money randomly frozen due to "suspicious activity" for weeks despite providing immediate proof of their cashflow. That kind of thing that can easily kill a s small business. Nothing major tho, naah.

Dumb move

Oh man this gonna be fucking hilarious with chargebacks.

I mean, Paypal has been doing things like [url=http://consumerist.com/2011/06/30/paypal-keeps-freelancers-pay-under-review-because-they-feel-like-it-1/]this[/url] and [url=http://consumerist.com/2011/02/22/paypal-resolves-dispute-in-your-favor-by-draining-your-checking-account/]that[/url], but who cares right, nothing to [url=http://consumerist.com/2009/08/11/paypal-takes-bite-out-of-users-funds-calls-it-rolling-reserve/]worry[/url] about, the people who have issues are obviously doing something scammy or are just dumb.

[QUOTE=Reagy;46059211]Oh man this gonna be fucking hilarious with chargebacks.[/QUOTE] By reading the article, it seems they are only accepting coin for instant online deliverables, where there are much less legitimate reasons for a charge back.

It's pretty much if you use PayPal to buy items then you won't have any trouble but if you're making any significant amount of money with PayPal then they screw you hard.

[QUOTE=Excalibuurr;46059158]Just the loud minority facepunch users who ran into trouble with PayPal when buying gas masks through shady Russian websites.[/QUOTE] Someone used hijacked paypal accounts to buy items from me, the legitimate owners charged back. On the first ($40) chargeback the payment was reversed, on the second $120 chargeback, I got $120 from paypal. Arbitrary things like this show off how inconsistent they are. Think steam support with dollaroos. They're [i]all right[/i] for buying with though.

I don't get why you'd even use paypal for this, isn't bitcoin already really secure without an intermediate group holding the money?

[QUOTE=Awesomecaek;46059202]Or you know, multiple game developers including Notch having their money randomly frozen due to "suspicious activity" for weeks despite providing immediate proof of their cashflow. That kind of thing that can easily kill a s small business. Nothing major tho, naah.[/QUOTE] Does that affect the majority of users of PayPal though??? I've been a member since 09 and haven't encountered a single issue as a buyer and seller

[QUOTE=Excalibuurr;46059158]Just the loud minority facepunch users who ran into trouble with PayPal when buying gas masks through shady Russian websites.[/QUOTE] Paypal is legit shit though. Once I had accidentally bought something on ebay (was an auto buy thing), and I didn't have the money in my bank account. Paypal kept charging me until I got called by my bank saying there's a $10,000 pending charge. Also, they wouldn't reverse it. I had to have my bank dispute it. They also like pulling money out of my bank account for vague as fuck, or totally blank reasons.

Never had an issue with PayPal. Bought a ton of shit over it and sold a bunch of stuff as well.

Why intergrate Bitcoin? I mean its only used for [URL="https://cryptothrift.com/"]drugs[/URL], [URL="https://bitvps.com/"]weed needles[/URL], and [URL="http://www.bitcoinshop.us/"]supporting terrorism[/URL].

Is bitcoin relevant yet?

[QUOTE=Lonestriper;46061219]Is bitcoin relevant yet?[/QUOTE] As much as internet nerds skyrocketing their parents power bill would like to convince you it is... No.

lmao is bitcoin actually srs?

[img]http://u.cubeupload.com/Period/20140923220519.png[/img] I bet Paypal bought fucktons of bitcoins right before the announced this, knowing the price would go up when they did. :v: [editline]23rd September 2014[/editline] [QUOTE=RustledJimmys;46061399]lmao is bitcoin actually srs?[/QUOTE] Even Google considers it a [url=http://u.cubeupload.com/Period/20140923220757.png]Currency[/url], and has had the exchange rate built into the Google search since July. [url]https://www.google.com/intl/en/googlefinance/disclaimer/[/url]

[QUOTE=Awesomecaek;46059022]Rad, now I can use the worst currency in existence through the scammiest international monetary service available[/QUOTE] How is bitcoin "the worst currency in existence"?

[QUOTE=The Aussie;46061575]How is bitcoin "the worst currency in existence"?[/QUOTE] imagine having to "mine" currency that you barely get any of

[QUOTE=RustledJimmys;46061588]imagine having to "mine" currency that you barely get any of[/QUOTE] You don't have to mine it? Leave that to the huge mining farms. Just convert to it, or don't use it at all if you don't need the benefits like (mostly) anonymous transactions and minimal transaction fees. And bitcoins can be broken up endlessly into decimals, so "barely any" isn't accurate when 0.01BTC is worth $4.35

[QUOTE=RocketRacer;46059135]Wait what's the hate for PayPal?[/QUOTE] They have this bad habit where any time anybody tries to put a large amount of money into their account for whatever reason (businesses, kickstarter projects, things like that) they tend to confiscate it and give it back later sans half of your money.

Whoah, I almost committed a felony. I have a family member that works for Ebay (who owns paypal), that told me about this, assuming it was public knowledge. I almost bought some, assuming the price would go up (it has, slightly). [editline]24th September 2014[/editline] Come to think of it, insider trading only applies to stocks and such I think, so nevermind.