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When is eBay going to start accepting Bitcoin for payment??

When is eBay going to start accepting Bitcoin for payment??

jesse.d.m
Enthusiast

Bitcoin is clearly growing in popularity and demonstrated usefulness.  There are security concerns, but if any one has the capabilty to figure these out and deal with them, it is ebay and paypal.

 

Bitmit.net is good at what they do, but they do not deal with trans-currency issues.  They index prices to current market price of bitcoin, but that is all.  Their escrow system works though at 1.9% of sales price... They are making money.

 

Coinbase.com is dealing with what they do quite admirably, but they are a limited exchange.  They only buy and sell bitcoin for usd.  Of course, they buy on their website at a small amount under market prices and sell at a similar amount over market prices, so they are making money being the middle man.

 

Blockchain.info has an interesting 3-party escrow sysem, but it does not address the issue of charge-backs, which have been the bane of bitcoin and bitcoin-related transactions all along.

 

For paypal to handle bitcoin sales, they would have to become the escrow funds holder.  That way no-one can say, "I didn't get my bitcoins" or "I didn't get my payment."  For eBay to allow transactions in bitcoin they would need an escrow system as well, so there is  paypal, again, right in the middle. 

 

Then the question becomes, "Does paypal want to become a bitcoin currency exchange?" Suppose a seller only wants his pay in fiat currency and a buyer only wants to buy with bitcoin.  Then paypal is in the middle again.

 

With all these issues putting eBay and paypal in the middle, I see lot's of 1 & 2%'s filtering into eBay and paypals pockets.  This kind of reminds me of a famous man who was asked how he made so much money in software when the wisdom of the times was that saftware was only worth a nickel to the dollar in hardware.  His answer was that he didn't foresee anything; he was just willing to take the nickel!  So I wonder what's taking these guys so long to get off the couch and get with the program??

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Message 1 of 82
81 REPLIES

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 16, 2013 12:03:23 AM
janewt-1
Trailblazer

How would this help them?



Newt
“Foreign aid is taking money from the poor people of a rich country and giving it to the rich people of a poor country”. Ron Paul
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Message 2 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 16, 2013 3:37:46 AM
bluemountainretailers
Trailblazer

I don't see them going anywhere near it.  One, bitcoin is mostly untracable, unrecallable - so it doesn't contribute to a secure market place.  Two, the Feds hate bitcoin and wil / are trying to shut it down.



"Don't close your eyes! They can still hit you with your eyes closed!" - my son's Karate Sensei Smiley Very Happy
34,412 Views
Message 3 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 16, 2013 8:19:03 AM
mistwomandancing
Rockstar

I'd accept a goat and five chickens before bitcoin. 

34,389 Views
Message 4 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 16, 2013 12:10:58 PM
*gizzygames*
Adventurer

mistwomandancing, you have some nice items for sale.  Do you accept Cows as payment?  Thanks!

34,363 Views
Message 5 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 16, 2013 4:08:12 PM

Guess I'm behind the times. What's bitcoin?

34,343 Views
Message 6 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 16, 2013 4:54:31 PM
bluemountainretailers
Trailblazer

It's a "cryptocurrency" - it uses encryption to generate a virtual currency that can be traded in an untraceable (mostly) manner between computers.  There are some exchanges where you can convert them to physical money at various exchange rates - on the highest level it strives to create a currency free of governments, at its most base its a medium for black market exchanges for many vices, minor and great . . .



"Don't close your eyes! They can still hit you with your eyes closed!" - my son's Karate Sensei Smiley Very Happy
34,334 Views
Message 7 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 16, 2013 6:42:22 PM

bluemountainretailers wrote:

It's a "cryptocurrency" - it uses encryption to generate a virtual currency that can be traded in an untraceable (mostly) manner between computers.  There are some exchanges where you can convert them to physical money at various exchange rates - on the highest level it strives to create a currency free of governments, at its most base its a medium for black market exchanges for many vices, minor and great . . .


Wow, had no idea. Definitely not needed here on eBay. Sounds too risky. I wouldn't accept it.

34,328 Views
Message 8 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 16, 2013 9:41:44 PM
janewt-1
Trailblazer

You mean to say you would not be willing to accept virtual money that you might be able to convert to real money at some conversion rate you won't know about until you try since it varies from minute to minute?

 

Oh wait.  I wouldn't either.



Newt
“Foreign aid is taking money from the poor people of a rich country and giving it to the rich people of a poor country”. Ron Paul
34,315 Views
Message 9 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 17, 2013 10:43:14 AM
legessi
Guide

Yikes..bitcoin sounds scary but I will accept farm animals, feed and farming tools especially a brush hog, baler, mower, ummm another tractor...laying hens, alfalfa hay but sorry no bitcoin, monopoly $$ or I'll pay you today for a hamburger Tuesday

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I cannot give you the formula for success, but I can give you the formula for failure--which is: Try to please everybody. Herbert Bayard Swope
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Message 10 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 17, 2013 10:56:20 AM
anonymoose99
Rockstar
Last Edited 10:59:16 AM

legessi wrote:

Yikes..bitcoin sounds scary but I will accept farm animals, feed and farming tools especially a brush hog, baler, mower, ummm another tractor...laying hens, alfalfa hay but sorry no bitcoin, monopoly $$ or I'll pay you today for a hamburger Tuesday


Make sure eBay gets their fee. Put a couple eggs in an envelope and send it to HQ.

 

34,299 Views
Message 11 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 17, 2013 5:23:13 PM
legessi
Guide

that could work...I read today that eggs really dont need to be refrigerated...yuck!

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
I cannot give you the formula for success, but I can give you the formula for failure--which is: Try to please everybody. Herbert Bayard Swope
34,279 Views
Message 12 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 18, 2013 10:44:31 AM

i just wish people would stop paying me in cats! i have ENOUGH cats!!!!

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Message 13 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Sep 27, 2013 10:35:36 AM
dcamenschic
Adventurer

Bitcoin is a deflationary currency. When the maxium number of bitcoin is reached (roughly 21 million) by the year 2035, the value of your currency increases without you doing anything. That would change the way we make purchases.

 

It would be a godsend if eBay accepts bitcoin. That's 2.9% less that I have to give to paypal. And of course the government hates it, it's competitive against government controlled currency. *double face palm* 

 

https://www.youtube.com/watch?v=w4HGVJjqDVk

 

 

------------------------

Who mouths inanity disorders thought for all who listen. ~Richard Mitchell
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Message 14 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Oct 4, 2013 8:07:10 AM
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Message 15 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Oct 4, 2013 8:19:19 AM
lookng2015
Rockstar
Last Edited 08:20:46 AM

Actually I used to accept virtual coin as payment. When I was into Second Life (VR world) and I'd be paid for what I made/sold in lindens which I could convert to aud or usd. Some even made (real) money playing the exchange market.

 

Of course it was only fair I accepted virtual coinage as what I was making/selling only existed digitally as well LOL


"If a product doesn't sell, raise the price" - Reese Palley
"If it sold FAST, it was priced too low" - also Reese Palley
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Message 16 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Oct 4, 2013 12:30:56 PM

THAT makes sense!

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Message 17 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Oct 4, 2013 7:45:30 PM
tucson_bill
Trailblazer

jesse.d.m wrote:

Blockchain.info has an interesting 3-party escrow sysem, but it does not address the issue of charge-backs, which have been the

With all these issues putting eBay and paypal in the middle, I see lot's of 1 & 2%'s filtering into eBay and paypals pockets.  This kind of reminds me of a famous man who was asked how he made so much money in software when the wisdom of the times was that saftware was only worth a nickel to the dollar in hardware.  His answer was that he didn't foresee anything; he was just willing to take the nickel!  So I wonder what's taking these guys so long to get off the couch and get with the program??


I dunno, what exactly is 2.9% of a bitcoin in real money that you can spend in the real world?  Why would eBay or paypal care?  Jeez, you do know that your cyberlife isn't real, don't you?

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Message 18 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Oct 4, 2013 10:06:17 PM
lookng2015
Rockstar
When I was really into SL, I was making some decent money (real usd once converted), and it's not unlike selling anywhere online, even here. Competitors trying to undercut, copying what you designed/built etc etc., staying ahead of the trends, inept code monkeys mucking up the system.

Had to do a LOT of social networking as well, within SL itself.

Picked up some good skills too that have helped here, like using GIMP for example (great software for those that can't afford the latest & greatest Photoshop)

I lost interest when they brought in voice. Took all the fantasy aspect away for me. Plus too time intensive to do RL online selling plus "play" in SL.

"If a product doesn't sell, raise the price" - Reese Palley
"If it sold FAST, it was priced too low" - also Reese Palley
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Message 19 of 82

Re: When is eBay going to start accepting Bitcoin for payment??

Re: When is eBay going to start accepting Bitcoin for payment??

in reply to Oct 8, 2013 6:52:34 PM
tucson_bill
Trailblazer

lookng2015 wrote:
When I was really into SL, I was making some decent money (real usd once converted), and it's not unlike selling anywhere online, even here. Competitors trying to undercut, copying what you designed/built etc etc., staying ahead of the trends, inept code monkeys mucking up the system.

Had to do a LOT of social networking as well, within SL itself.

Picked up some good skills too that have helped here, like using GIMP for example (great software for those that can't afford the latest & greatest Photoshop)

I lost interest when they brought in voice. Took all the fantasy aspect away for me. Plus too time intensive to do RL online selling plus "play" in SL.

So what is SL?  I know that I'm 67 years old and therefore out of it, but where I come from you define acronyms the first time you use them.  That's how people know what you're talking about.  (Or not, in this case.) Although I do know that GIMP is, but it aint no photoshop. 

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