PayPal ‘Believes’ in Bitcoin

01-16-2014, 03:27 AM #1

Cory

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Originally posted by another user

Today, on Twitter, PayPal President said the folks at PayPal believe in bitcoin and that they support the sale of bitcoin mining rigs, which is what brings the Cryptocurrency to life. It’s another sign that the influence of bitcoin is expanding and forcing tech companies like PayPal to respond.

These tweets were posted in responce to Bitcoin related questions.

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Whether PayPal will support or try to rival bitcoin is still undecided, but it is a good sign that companies are starting to give bitcoin the recognition it deserves. Many companies have announced plans to begin to work with bitcoin including OverStock.com, eBay.com, and Amazon.

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01-16-2014, 06:38 PM #2

ResistTheSun

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Given how much money can be made by bitcoin Paypal are wise to support it.
This not a major change in policy for the company or a sign it a long term thing.
Still don't believe in bitcoin due it is demand based, it's less a currency more a commodity.
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01-16-2014, 07:09 PM #3

Toke

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Originally posted by ResistTheSun

Given how much money can be made by bitcoin Paypal are wise to support it.
This not a major change in policy for the company or a sign it a long term thing.
Still don't believe in bitcoin due it is demand based, it's less a currency more a commodity.
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As people start to stockpile bit coins, they will go up in value and it will just be like having a $1,000 or 10,000 bill or whatever it is worth. And given the limited amount and that there won't be any inflation it is really going to be a expensive commodity