Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

techcrunch.com

Post reply on HN
Print view View original

121–130 of 139 posts

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#121

Post by duckingtest »

pseudoscops wrote: post #96
IkmoIkmo wrote: post #36

Earlier quoted context omitted.

> why would anyone want to exchange a reasonable stable national currency for bitcoin? Name me 10 currencies you'd be comfortable holding. It'll probably be very difficult. Fact is, billions use currencies with high inflation rates and with relatively short lifespans. And it's not just places like Zimbabwe that have many problems besides insane inflation the past decade. It's also relatively developed countries like…

Speaking of locking the price of your crypto for $, I followed a very interesting AMA on Reddit that was held earlier today about an innovative crypto based Digital Autonomous Corporation (DAC) called BitShares X. All of the utility of Bitcoin, but it also has a distributed on-blockchain exchange AND has assets pegged to the $ AND also pays interest if you hold those pegged assets. I’ve been following what these guys…

>has assets pegged to the $

No. It's pegged to nothing.

>Once the market has reached a consensus that BitUSD should be valued the same as a real US Dollar no one will be able to trade against that consensus without losing money. Thus the value of BitUSD today is based upon the prediction of what market participants will value BitUSD at in the future. There is only one rational way to speculate, that the consensus will hold, and that creates a self-enforcing market peg.

In other words, basically bitusd is supposed to follow usd because it has 'usd' in its name. It's beyond ridiculous.

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#122

Post by blueking »

innguest wrote: post #63
blueking wrote: post #56

Bitcoin was created to get rid of the likes of Paypal.

Then help me make sense of why Paypal is partnering with Coinbase (straight question).

Because they know once bitcoin starts getting accepted nobody is going to put up with their ridiculous system of rules or give them a cut out of every transaction. And its tax free too. They just became irrelevant. Makes me wish I believed in a deity so I could give thanks :) Holy shit Paypal were a awful service. Customer service was like a colonoscopy. Ferreting out information with that suspicious tone. A million arbitrary limits and hoops to jump though. They got away with that because they were the only game in town. Not anymore.

They are looking for a life raft. Thats what coinbase move is about... appeasing their shareholders. But heres the thing about coinbase.... nobody needs them either.

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#123

Post by blueking »

dreamweapon wrote: post #107
blueking wrote: post #56

Bitcoin was created to get rid of the likes of Paypal.

Was it? As in, do you have some empirical basis for that statement -- as in, you know, something related to actual statements made by the creator(s) of the original bitcoin protocol itself? Or is it just something you find nifty to believe in (therefore it must be true)? Please clarify.

LMAO. Of course it was. I'm not answering your snotty questions. Google it. :)

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#124

Post by vivab0rg »

clamprecht wrote: post #9
viraptor wrote: post #3

Earlier quoted context omitted.

I don't think bitcoin won yet. I haven't heard of paypal allowing people to pay for bitcoins yet. (as in transfers of funds to exchanges) They accept it for their service, but noone else can.

Using PayPal is a really bad way to sell bitcoins, because PayPal lets the buyer dispute the transaction, reversing payment. If you sell bitcoins via PayPal, you're taking a big counterparty risk (not to mention the 3rd party, PayPal itself).

I'm from Argentina and have 30+ transactions and 100% positive feedback BUYING bitcoins with my PayPal funds on Localbitcoins. Never disputed any transaction and usually send +4% ~ +6% to help the seller with the PayPal fees (plus, I my rates al always better than Bitstamp's).

Edit: My Localbitcoins user is vivab0rg if you'd like to check.

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#125

Post by clamprecht »

vivab0rg wrote: post #124
clamprecht wrote: post #9

Earlier quoted context omitted.

Using PayPal is a really bad way to sell bitcoins, because PayPal lets the buyer dispute the transaction, reversing payment. If you sell bitcoins via PayPal, you're taking a big counterparty risk (not to mention the 3rd party, PayPal itself).

I'm from Argentina and have 30+ transactions and 100% positive feedback BUYING bitcoins with my PayPal funds on Localbitcoins. Never disputed any transaction and usually send +4% ~ +6% to help the seller with the PayPal fees (plus, I my rates al always better than Bitstamp's). Edit: My Localbitcoins user is vivab0rg if you'd like to check.

I live in Buenos Aires (Palermo) and have bitcoins to sell for pesos. Please contact me if interested, and if you live in CABA.

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#126

Post by asdfasdfedd »

sassypants wrote: post #88

Bitcoin remains the best and most liquid savings vehicle over the last five years of its existence. Assuming savings = holding currency for over 1 year. On 98% of the days that you could have purchased Bitcoin you would have realized an increase in purchasing power in a year's time. In those 2% of cases where you could have purchased Bitcoin and seen a loss over one year, you would have still seen an increase in purc…

Please do not ever try to give financial advice again.

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#127

Post by Hermel »

atmosx wrote: post #50
Hermel wrote: post #45

Earlier quoted context omitted.

Sooner or later, a trusted financial institution will start to issue USD and EUR as colored coins on the Bitcoin network (or another cryptocurrency). From that point on, the volatility risk will be gone, but the benefits of a freely transferrable currency will remain. With the benefits being: fast (with traditional currencies, settlement takes two days), easy to integrate, and open source. In particular, the latter p…

The only reason a big corporation would want to depend on a currency without central bank banking (e.g. controlled somehow) is if it owns the largest chunk of that currency, so it can play the role of the central banker as it see fit. When other corporations realize what is happening they will dump the currency in no time and the currency will lose value. The Linux is not controlled by anyone. Any company can build u…

This is not about Bitcoin the currency, it is about Bitcoin the payment system. The currencies used would be the traditional ones (e.g. USD coins), but the payment system would be Bitcoin.

Thus, your argument does not apply.

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#128

Post by atmosx »

innguest wrote: post #92
atmosx wrote: post #79

Earlier quoted context omitted.

Bitcoin != Democracy. BTC could allow an anonymous party to control a currency, given enough % of that currency in circulation. Compare that to the current system. You may not like it, but currently the central banker (who creates policies for the good of his country) is appointed by the governments (ECB/FED). The later sounds extremely more democratic to me. Now BTC is owned mostly by techies and small, adventurous…

> BTC could allow an anonymous party to control a currency, How, exactly? They can't control the minting so I'm not sure what you mean by "control". The Fed is already an anonymous (because no one is personally responsible) party controlling the US dollar. > currently the central banker ... creates policies for the good of his country This is highly debatable. You can't just say that and pretend it is indisputable. I…

>> BTC could allow an anonymous party to control a currency,

> How, exactly? They can't control the minting so I'm not sure what you mean by "control". The Fed is already an anonymous (because no one is personally responsible) party controlling the US dollar.

By buying the largest chunk of bitcoins. Simple as that if you don't understand you clearly don't have a clue about what you're talking about.

You're making rounds without saying anything: The FED is there to ensure stability. You don't agree with their policies for a variety of reasons, I'm all with you. But what you're promoting here has nothing to do with democracy or fairness. It's more of a jungle where the big guy eats the small guy for lunch.

The old saying is stupid because everyone who studied monetary policies knows that currencies are enforced upon population (taxes).

I already explained what a player with big % of BTC can do to manipulate a free-from-regulation market, as BTC is. But it's really elementary, if you know how stock markets work.

Who is desperate and moving away from the USD? You seem to switch from micro-view to macro-view in no time and back. You're talking about average Joe again or Iran/China/Russia for example? Because average Joe and China are not on the same level currency-wise.

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#129

Post by dalore »

dangerlibrary wrote: post #8

Serious question: If one is engaged in entirely legal activities - no money laundering, no drugs, no illegal weapons, no tax evasion, no slipping around international monetary controls - why would one want to use Bitcoin? With the volatility of Bitcoin's price, transfer costs of traditional payment methods (1-3%) are totally dwarfed by the risk of holding Bitcoins for even a short period of time. Maybe there is some…

You could take out the risk by as soon as you accepted a payment in bitcoin took a reverse option for the bitcoin value in USD.

Re: PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

#130

Post by pseudoscops »

duckingtest wrote: post #121
pseudoscops wrote: post #96

Earlier quoted context omitted.

Speaking of locking the price of your crypto for $, I followed a very interesting AMA on Reddit that was held earlier today about an innovative crypto based Digital Autonomous Corporation (DAC) called BitShares X. All of the utility of Bitcoin, but it also has a distributed on-blockchain exchange AND has assets pegged to the $ AND also pays interest if you hold those pegged assets. I’ve been following what these guys…

>has assets pegged to the $ No. It's pegged to nothing. >Once the market has reached a consensus that BitUSD should be valued the same as a real US Dollar no one will be able to trade against that consensus without losing money. Thus the value of BitUSD today is based upon the prediction of what market participants will value BitUSD at in the future. There is only one rational way to speculate, that the consensus wil…

No it's pegged to USD because it is backed by BTSX. BTSX does have value. It's an experiment, but it might just work. Perhaps this guy can explain how it works a little better than I have:

http://bitcoinist.net/bitsharesx-i-join-the-grand-experiment...

Post reply on HN