eBay CEO weighs PayPal bitcoin option

eBay CEO weighs PayPal bitcoin option

eBay chief executive John Donahoe has confirmed the e-commerce giant is looking at ways to integrate bitcoins into its PayPal payments network. "It's a new disruptive technology, so, yeah, we're looking at bitcoin closely," Donahoe said in an interview with the Wall Street Journal. "There may be ways to enable it inside PayPal." eBay hasn't yet made any commitments to use the currency, Donahoe added, comparing the digital currency to early music sharing sites such as Napster. "Virtual currency is something that's here to stay," he said. Last week, PayPal president David Marcus said he was....


Related News

eBay and PayPal Confirm Upcoming Separation, Support for Bitcoin Payments

In September 2014, eBay announced plans to separate eBay and PayPal. In a recent SEC filing, eBay confirmed that a newly formed corporation named PayPal Holdings, Inc. ("PayPal") will take over the businesses that make up eBay's payments segment. eBay, the existing publicly traded corporation, will continue to operate its marketplaces business. The separation, which will provide current eBay stockholders with equity ownership in both eBay and PayPal, will be effected by means of a pro rata distribution of 100 percent of the outstanding shares of PayPal common stock to holders of eBay....

eBay and PayPal to Accept Bitcoin Payments through Braintree

In their recent SEC filing, eBay and PayPal confirmed plans to allow merchants with a standard account to accept bitcoin payments through third-party processor Braintree. This company was acquired by eBay for $800 million in September 2013 and will now be part of PayPal Holdings. In the same SEC filing, eBay and PayPal have announced the formation of a new corporation called PayPal Holdings that will take over the businesses in eBay's payments segment. Meanwhile, eBay will continue to operate its marketplace business as a publicly traded corporation. "As two distinct publicly traded....

BREAKING NEWS: Ebay will allow Bitcoin Trading

In an email from Ebay they share their plans to open trade for cryptocurrencies like Bitcoin on 10th February 2014. This is a shift from their present policy that bans the sale of digital currencies. Many virtual currency experts are urging caution when trading virtual currencies on EBay using Paypal, however, as the risk for charge backs are still very real using PayPal. At it's core, EBay is built to be a major venue to trade these assets. Forecasting an advancement in payment processing as large as virtual currencies offer was impossible when EBay bought PayPal in 2002. Not a person in....

PayPal Valued at $52 Billion For Market Return

After more than a decade of being part of eBay Inc. , PayPal will return to the stock market as an individual company. Shares of PayPal (PYPL.O) jumped up 11% in value as people anticipate the company’s return to NASDAQ. With that rise, and adjusting for market stabilization, PayPal is now valued at about $52 Billion. Online payments have changed considerably since 2002 when eBay acquired PayPal, and the popularity of PayPal has lead to a relationship that hinders the potential of PayPal. Processing over $235 billion in 2014, PayPal handles some massive transaction volume on a daily basis,....

eBay CEO: We Are 'Actively Considering' Bitcoin Integration

eBay CEO John Donahoe told shareholders at the annual meeting in San Jose, California, yesterday that the company is "actively considering" integrating bitcoin with PayPal. When asked by a shareholder about bitcoin's potential role in global trade, Donahoe responded by saying that the digital currency "will play a very important role in the future", eCommerce Bytes reports. While Donahoe said he couldn't envision exactly how bitcoin could become a more mainstream technology, he suggested that eBay is considering direct involvement with the digital currency, saying: "Exactly how that plays....

Quotes

Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases. It has the potential for a positive feedback loop; as users increase, the value goes up.

Satoshi Nakamoto, Bitcoin Developer