Post
Topic
Board Bitcoin Discussion
Re: PAYPAL FOUNDER PETER THIEL: “BITCOIN IS THE OPPOSITE OF PAYPAL”
by
TonyT
on 22/10/2014, 16:52:14 UTC
I really doubt paypal will ever accept BTC. It will be a very risky thing to do.  Undecided ...

They are already testing the waters right now with one of their subsidiaries. If that is a success we can probably end up seeing BTC integrated somehow into the PayPal wallets

And keep in mind that the chief scientist of Bitcoin (GA) has said on his blog--correctly IMO--that it's only a matter of time before Bitcoin anonymity must go away. In fact, he says users will have to either pay to stay anonymous or give up their anonymity in exchange for lower block verification fees (read his blog, I don't have the link but this is well known).  Essentially, long term, the Bitcoin founders and the people that really matter are giving up anonymity in exchange for going mainstream, under the bet that if they try and stay anonymous, FinCen and other such entities around the world will regulate BTC out of existence, but if they go mainstream it will become acceptable to the average citizen and hence more profitable (and the price of BTC will go up).  It's a Faustian bargain but also an offer you can't refuse (prosper by going mainstream or be banned--your choice).  Also of course due to the more efficient manner of BTC it will replace PayPal if it goes mainstream, and PayPal probably knows this and wants to coop BTC before BTC makes PayPal obsolete.