Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Feb 10, 2018

No PayPal with ebay? That's a game changer. I've got a PayPal credit card, which will become useless.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Feb 10, 2018

Bucketeer wrote:No PayPal with ebay? That's a game changer. I've got a PayPal credit card, which will become useless.


Yep, it is happening faster now too:
https://www.trustnodes.com/2018/02/10/coinbase-launches-paypal-like-plugging-ethereum-bitcoin-bitcoin-cash-litecoin

Coinbase, the biggest crypto broker and one of the biggest exchange, has launched a new service for merchants, allowing them to seamlessly integrate crypto payments by adding a Coinbase Commerce button, not much different than the PayPal button.
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jcz1
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Re: Bitcoins - fad or trend?

Postby jcz1 » Sat Feb 10, 2018

SilverDoge wrote:1) eBay will stop using PayPal by 2020: https://www.recode.net/2018/1/31/16957212/ebay-adyen-paypal-payments-agreement


That is a misleading statement. Here is what it actually says:

After the existing eBay-PayPal agreement ends in 2020, PayPal will remain a payment option for shoppers on eBay, but it won’t be prominently featured ahead of debit and credit card options as it is today. PayPal will cease to process card payments for eBay at that time.


Ebay has an existing contract to continue offering paypal as a payment option until July 2023.
https://www.engadget.com/2018/01/31/eba ... n-payment/

After 2020, it is unclear how Aydin is involved (from the buyer's perspective, sellers appear to be screwed, as usual) other than processing credit card payments. Does the buyer need an Aydin account, or does the crypto option appear alongside credit cards and paypal at checkout? We don't have answers to this right now, but expecting ebay buyers to abandon paypal for Aydin seems unrealistic, since paypal is accepted at so many other places now.
Last edited by jcz1 on Sat Feb 10, 2018, edited 1 time in total.

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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Sat Feb 10, 2018

jcz1 wrote:
SilverDoge wrote:1) eBay will stop using PayPal by 2020: https://www.recode.net/2018/1/31/16957212/ebay-adyen-paypal-payments-agreement


That is a misleading statement. Here is what it actually say:

After the existing eBay-PayPal agreement ends in 2020, PayPal will remain a payment option for shoppers on eBay, but it won’t be prominently featured ahead of debit and credit card options as it is today. PayPal will cease to process card payments for eBay at that time.


Ebay has an existing contract to continue offering paypal as a payment option until July 2023.
https://www.engadget.com/2018/01/31/eba ... n-payment/

After 2020, it is unclear how Aydin is involved (from the buyer's perspective, sellers appear to be screwed, as usual) other than processing credit card payments. Does the buyer need an Aydin account, or does the crypto option appear alongside credit cards and paypal at checkout? We don't have answers to this right now, but expecting ebay buyers to abandon paypal for Aydin seems unrealistic, since paypal is accepted at so many other places now.


+1

I don't plan to stop using PayPal.

:pop:
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jcz1
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Re: Bitcoins - fad or trend?

Postby jcz1 » Sat Feb 10, 2018

SilverDoge wrote:
Bucketeer wrote:No PayPal with ebay? That's a game changer. I've got a PayPal credit card, which will become useless.


Yep, it is happening faster now too:
https://www.trustnodes.com/2018/02/10/coinbase-launches-paypal-like-plugging-ethereum-bitcoin-bitcoin-cash-litecoin

Coinbase, the biggest crypto broker and one of the biggest exchange, has launched a new service for merchants, allowing them to seamlessly integrate crypto payments by adding a Coinbase Commerce button, not much different than the PayPal button.


Not sure this matters for ebay, since Aydin is working with BitPay. Ebay is not really a merchant, it's a collection of a million or more merchants, at least until they force sellers to use Aydin.

I suppose ebay could add the new Coinbase service as an option that each seller could use for payments, but that would eventually be redundant with the Aydin thing.

jcz1
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Re: Bitcoins - fad or trend?

Postby jcz1 » Sat Feb 10, 2018

tdtwedt wrote:
jcz1 wrote:
SilverDoge wrote:1) eBay will stop using PayPal by 2020: https://www.recode.net/2018/1/31/16957212/ebay-adyen-paypal-payments-agreement


That is a misleading statement. Here is what it actually say:

After the existing eBay-PayPal agreement ends in 2020, PayPal will remain a payment option for shoppers on eBay, but it won’t be prominently featured ahead of debit and credit card options as it is today. PayPal will cease to process card payments for eBay at that time.


Ebay has an existing contract to continue offering paypal as a payment option until July 2023.
https://www.engadget.com/2018/01/31/eba ... n-payment/

After 2020, it is unclear how Aydin is involved (from the buyer's perspective, sellers appear to be screwed, as usual) other than processing credit card payments. Does the buyer need an Aydin account, or does the crypto option appear alongside credit cards and paypal at checkout? We don't have answers to this right now, but expecting ebay buyers to abandon paypal for Aydin seems unrealistic, since paypal is accepted at so many other places now.


+1

I don't plan to stop using PayPal.

:pop:


See, this is my point. Buyers love paypal. Sellers, not so much.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Feb 10, 2018

tdtwedt wrote:I don't plan to stop using PayPal.

:pop:


A lot of people didn't plan to stop using checks at grocery stores either. Can't remember the last time I saw anybody bust out a checkbook at a store. Don't worry, when it comes to the adoption S-curve there is a large group called "late adopters" and we still allow them on-board even though they are 10 years late to the party. ;)
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Sat Feb 10, 2018

SilverDoge wrote:
tdtwedt wrote:I don't plan to stop using PayPal.

:pop:


A lot of people didn't plan to stop using checks at grocery stores either. Can't remember the last time I saw anybody bust out a checkbook at a store. Don't worry, when it comes to the adoption S-curve there is a large group called "late adopters" and we still allow them on-board even though they are 10 years late to the party. ;)


I seem to always get stuck behind Grandma at WalMart writing out a paper check.

:lol:

There are a lot of ways to pay for stuff without using bitcoin.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Sat Feb 10, 2018

Hey, I wrote a check just yesterday. Don't put me out to pasture! :?

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Feb 10, 2018

See, this is my point. Buyers love paypal. Sellers, not so much.


Yeah, it is safe and easy. WTF?
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Feb 10, 2018

Long John wrote:Hey, I wrote a check just yesterday. Don't put me out to pasture! :?


Writing checks to your bank for a mortgage payment doesn't count. Banks are the last to adapt to new tech.

I also don't like giving utility companies, cell phone providers, or many other companies access to auto ACH withdraw from my bank account. I know people that have gotten jacked over. Imagine a disputed cell phone bill where you went over your minutes, or a water main break under your house where your water bill went to over $500 and the utility auto-billed you. Good luck getting your money back AFTER they've already got it in hand. You are then negotiating from a position of weakness. No thanks.

I understand the convenience, but I'd rather 1) see the bill with full charges, 2) pay the bill quickly online with crypto in a few clicks. This is better than auto-deductions - which give others access to my bank account, saves the time/hassle of checks, and does away with the "permission" of a 3rd party like PayPal to run the charge through or not.
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Silversummit
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Re: Bitcoins - fad or trend?

Postby Silversummit » Sat Feb 10, 2018

Bucketeer wrote:
See, this is my point. Buyers love paypal. Sellers, not so much.


Yeah, it is safe and easy. WTF?

Lol I hate PayPal but really like checks :D no cc here whatsoever. Cash , check , money order and crypto only from me as payment.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Sat Feb 10, 2018

SilverDoge wrote:Writing checks to your bank for a mortgage payment doesn't count..

Actually, it was to pay a BS member for some Ag. He didn't want PayPal. But I get the point.

SilverDoge wrote:I understand the convenience, but I'd rather 1) see the bill with full charges, 2) pay the bill quickly online with crypto in a few clicks.

Yeah, I'd like that too, but until then...

cmiller17363
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Sat Feb 10, 2018

If the stock market drop last week is the beginning of a longer term downtrend (I think it may be), do you guys see cryptos following suit or becoming more of a hedge like gold and silver?
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Feb 10, 2018

cmiller17363 wrote:If the stock market drop last week is the beginning of a longer term downtrend (I think it may be), do you guys see cryptos following suit or becoming more of a hedge like gold and silver?


This remains to be seen.
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jcz1
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Re: Bitcoins - fad or trend?

Postby jcz1 » Sat Feb 10, 2018

Thought everyone might enjoy this graphical look at history. (Note the title says "crashes" but each square uses the term "correction" instead.):

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Sat Feb 10, 2018

jcz1 wrote:Thought everyone might enjoy this graphical look at history. (Note the title says "crashes" but each square uses the term "correction" instead.)

Yes, the reminder is very useful at times like this. Thank you. The first peak in the chart was $7.38 and the most recent one was $19,666. That illustrates very well how little these crashes or corrections have slowed the evolution of Bitcoin. All of that happened in 6 years. I was present for the six most recent crashes, and they were all pretty depressing. But look what happened each time by simply waiting...

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Feb 10, 2018

Hang on, hold on, and ride the bull. If it blows up, it blows up.

You might loose your investment or you might get rich. Big money still supports Bitcoin. Some of the alts offer a better solution than Bitcoin for a currency. I trash the alts, but some of them work. The problem is picking the right one to buy.

Bitcoin is obsolete. So is Gold. Both will be around a long time. Bitcoin isn't going to zero.

Don't bet more than you're willing to lose. DYODD.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Sun Feb 11, 2018

Declining profit at $18K+ and then watching Bitcoin fall to $6K was not riding the bull. That was riding the f---ing bear. Sorry guys. I tried to push a message of taking profit if it made sense for you, not somebody else. I could have pushed harder, every time I saw the words "stay long." :( Hopefully some did take advantage of those crazy-high prices. Why should only the big Bitcoin holders get profits?

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sun Feb 11, 2018

tdtwedt wrote:There are a lot of ways to pay for stuff without using bitcoin.


I opened a BOA checking account 13 years ago. I just had to re-order checks. I write 1 check per month, for my lot rent. I hear you about Grandma at Walmart.
Gentlemen prefer Engelhard.


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