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PayPal to support Ethereum and Bitcoin

newsroom.paypal-corp.com

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Re: PayPal to support Ethereum and Bitcoin

#281

Post by mastazi »

hamstercat wrote: post #260
mitkebes wrote: post #256

Earlier quoted context omitted.

Paypal is good as a consumer. You can buy stuff without giving random sites your card details, and paypal is willing to refund purchases if you have a legitimate issue and the seller refuses to cooperate with you. My wife placed a large clothing order some months back, but the package got ripped in transit and we only received about a quarter of it. The seller company refused a refund because the tracking data said "…

Credit cards do the same, no? You can initiate a chargeback.

with Paypal I can link either debit or credit card, so I can choose whether or not I'm going into debt for a certain amount.

Chargebacks, at least where I live, are much harder if you paid with a debit card. Paypal refunds are just the same no matter if you used debit or credit.

Re: PayPal to support Ethereum and Bitcoin

#282

Post by egypturnash »

esskay wrote: post #184

I'm both surprised they didn't already, and am more surprised people are still willing to even use PayPal at this point.

I do art for a very queer market and lately I've been trying to get people to pay me via Zelle, because using Paypal is putting pennies in the pocket of rich dipshits like Elon Musk or Peter Thiel, who put that money into Republican candidate pockets.

Next to nobody's budged. It's all Paypal. I'm taking a class and I paid the teacher via Venmo, which is a fucking Paypal company. It's so damn entrenched. When the fuck can I take payments for furry porn via FedNow instead of giving money to these jerkwads.

Re: PayPal to support Ethereum and Bitcoin

#283

Post by Geee »

tootie wrote: post #40

When Bitcoin first hit public consciousness the knock from economists was that it had a built-in deflationary spiral and that seems to be true. The price keeps going up and up with a few noted bumps. Rising value is great for speculators but it's a death knell for an actual spending currency. You'd be nuts to spend it if you expect it to appreciate. That's why central banks aim for low but positive inflation.

This is a fallacy.

It's rational to buy stuff when it's cheap and sell stuff when it's expensive. Not the other way around. In other words, if the money gets suddenly more valuable, people would go on a shopping spree, which would cause inflation and the value would return back to normal. They wouldn't wait for it to be even more valuable. The situation would be different if there was a guarantee of deflation, but there isn't.

Economic demand is driven by human needs and wants. Lot of everyday consumption, like food, is bought when it's needed, and can't be bought 5 years later, because you'd be dead already. Other things, like a computer or a car you can buy later, but then you'll have to make a calculation whether the thing is more valuable today or after 5 years if you'll get it 30% cheaper. There's no situation where you sit on a pile of bitcoins and just die there waiting.

Re: PayPal to support Ethereum and Bitcoin

#284

Post by noduerme »

analog31 wrote: post #273
esskay wrote: post #184

I'm both surprised they didn't already, and am more surprised people are still willing to even use PayPal at this point.

I've had a PP merchant account for well over a decade, to sell a boring, non computer related gadget. I make roughly one sale per business day, with typical statistical variation. PP has been nearly 100% reliable. Some advantages for me: 1. I don't touch your credit card or personal info. I don't want to know those things. I don't want to be responsible for keeping them secure. 2. Integration with the post office for…

To your horror stories, while I'm sure many of them do involve legitimate disputes, I stopped accepting PayPal payments about a decade ago after what they did to a friend of mine. He and his wife owned a small hotel that took payment several ways, including Paypal. They didn't have too many customers paying that way and had allowed something over $10,000 to pile up in their Paypal account over time. When they tried to withdraw it, Paypal froze their account and requested all sorts of additional verification. But even after they provided all this, Paypal refused to unfreeze the account. This dragged on for over a year. By the time they paid lawyers and brought legal proceedings, it was hardly worth it.

So, I'll use PayPal these days to pay someone with my credit card, but I'd be extremely cautious about receiving more than a small amount of money through them.

Re: PayPal to support Ethereum and Bitcoin

#285

Post by mastazi »

mapmeld wrote: post #217
unixhero wrote: post #200

Earlier quoted context omitted.

In the real world, not in computer user world, people use what is avilable to them that works. Paypal is that.

I think it's from people who are programmed from early e-commerce days to think using their credit card online is an extreme risk, and that Paypal is shielding them or insuring their purchase in some way. That said, I know some small nonprofits where that's their preferred way to donate online.

> that Paypal is shielding them or insuring their purchase in some way

this is absolutely the case for me, multiple times I had a great experience getting refunds with PayPal and multiple times I regretted not purchasing something using PayPal because getting a refund was much harder.

I now use PayPal exclusively for any online purchase > $500 precisely for this reason[1].

[1] unless it's a vendor that I know has a good return policy, such as JB HiFi.

Re: PayPal to support Ethereum and Bitcoin

#286

Post by kinakomochidayo »

Pxtl wrote: post #169

With the expensive and slow transactions of BTC and Ether, is there any crypto currency that is actually practical to spend on something like Paypal?

You probably need to update your sources. It’s super cheap to send ETH

https://www.gasfees.io/

Re: PayPal to support Ethereum and Bitcoin

#287

Post by yownie »

joahnn_s wrote: post #215

The whole purpose of crypto is to exchange money online like we exchange cash in person, so who wants PayPal as a middleman on a tech designed not to have a middleman? Who will use that

>so who wants PayPal as a middleman

The governments that are threatened by private citizens transacting outside their purview obviously.

Re: PayPal to support Ethereum and Bitcoin

#288

Post by yownie »

unleaded wrote: post #152

real question because i don't know, what do people actually buy with crypto other than other money or illegal stuff? i presume paypal won't be happy with you buying/selling drugs with it

https://www.bitrefill.com/

video games with https://www.kinguin.net/

there's lots of places to spend crypto if you look, and I don't feel like needing to associate my identity just to purchase digital goods. Crypto facilitates that. People forget it's even an option.

Re: PayPal to support Ethereum and Bitcoin

#289

Post by analog31 »

noduerme wrote: post #284
analog31 wrote: post #273

Earlier quoted context omitted.

I've had a PP merchant account for well over a decade, to sell a boring, non computer related gadget. I make roughly one sale per business day, with typical statistical variation. PP has been nearly 100% reliable. Some advantages for me: 1. I don't touch your credit card or personal info. I don't want to know those things. I don't want to be responsible for keeping them secure. 2. Integration with the post office for…

To your horror stories, while I'm sure many of them do involve legitimate disputes, I stopped accepting PayPal payments about a decade ago after what they did to a friend of mine. He and his wife owned a small hotel that took payment several ways, including Paypal. They didn't have too many customers paying that way and had allowed something over $10,000 to pile up in their Paypal account over time. When they tried t…

Indeed, my orders never exceed 100 bucks, and I have an automatic sweep into my bank account when it exceeds X dollars.

Re: PayPal to support Ethereum and Bitcoin

#290

Post by yownie »

lucb1e wrote: post #254
majkinetor wrote: post #238

Earlier quoted context omitted.

It's a debit card. Not sure what you mean. Nobody buys anything with cache anymore. I keep some cache in my car for bazaar and similar stuff, but all but few stores accept cards everywhere in EU I go. The convenience of having all your cards on a phone is unparalleled.

Ooh! Somehow I thought you meant credit card. No, indeed, normal cards are normal cards. Misunderstanding is entirely on my side

I think there's some confusion here, you can use a credit card and have it processed on the back-end as a debit transaction, for a consumer the distinction is almost unnoticed.

This differs greatly according to global region. Germany from what I've observed is an outlying for noticing the distinction (mostly because they suffered from very high credit card surcharges for decades vs the rest of the world).

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