05 Sep '13

Paypal And Bitcoin Sitting In A Tree. K.I.S.S.I.N.G

In a recent bitcointalk forum post, user Nightowlace, a regular eBay seller, claims to have received a phone call from an eBay representative “Mike” asking about his bitcoin activities.

To quote Nightowlace directly, the conversation went like this:

"Adam, this is Mike from eBay and we would like it if you could call me back. As a seller of bitcoin on eBay we would love to get some feedback and input about your experience with bitcoin as we work to incorporate it into eBay” After I called him back and we had a nice discussion he closed the phone call with “well we are just trying to wrap ourselves around it and want to try and stay ahead of the curve just like I think most larger corporations are right now, thank you for your time.” For any doubters my eBay user name is Jamsolid101 you can see that I was a very active seller of Casascius coins. I imagine contacting their users who actively sold bitcoins on ebay is the first step in their leading upto determining whether or not to actually incorporate it."
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Our friends from Bitcoin Reddit also found an eBay blog post featuring this video.

eBay owns payment processor Paypal and it’s clear that a bitcoin startup could become a direct competitor with Paypal. The bitcoin protocol itself has many advantages over Paypal as a payment system, where Paypal charges exorbitant transaction fees and also takes a greedy cut from currency conversions.

Bitcoin would all but eliminate these fees to the merchant and the customer, making bitcoin much more attractive as a form of payment.

It is very likely that Paypal’s owner eBay is sitting up and taking notice. It would be negligent to their shareholders not to, at least, investigate Bitcoin.

Paypal And Bitcoin Sitting In A Tree

Paypal works with many currencies around the world and adding Bitcoin would be trivial, from a technical point of view.

If Paypal adopts Bitcoin as a form of payment, and advertises that fact prominently, Bitcoin will be pushed further into the mainstream spurring widespread adoption.

If Paypal does decide to take Bitcoin under it’s wing, the whole bitcoin community will benefit.