

PayPal’s Support Is the Best Thing That Could Happen to Bitcoin - cyphersanctus
http://www.wired.com/2014/09/paypals-support-is-the-best-thing-that-could-happen-to-bitcoin/

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netcan
I think bitcoin has had as much media attention, excitement and such as it
could have possible hoped for. Most of it was dues to the rapid rise in
value/price, but regardless it has a crapload of mindshare now.

Now what we need is for people to start using it to transfer money or buy
goods and services. That I haven't seen as much of. That's what it will take
to make Bitcoin stick.

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malloreon
if I'm any given bitcoin user (which I'm not), what incentive is for me to
actually use it for those purposes?

It's "deflationary" and "free" (in quotes because every day new coins are
created out of thin air, and because the actual cost of processing each
transaction is ~$25-40)

Let's assume it's deflationary. I'm way better off convincing others to spend
it while I hoard as much as I'm able to.

The more you believe in bitcoin the less reason there is to ever spend them.

~~~
netcan
_what incentive is for me to actually use it?_

You want a taco. I'm selling tacos for bitcoin. Trying to convince me to spend
while you hoard will not result in you eating one of my tacos.

~~~
malloreon
If you won't accept real money for your taco I'll find someone who will, and
very easily.

~~~
netcan
If you sell the best tacos, you can charge whatever money you want.

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Karunamon
_Wonderful_. Now we can take the _excellent_ customer service and
responsiveness that PayPal is known for and apply it to something with even
less regulation than the quasi-bank niche they sit in currently!

What could _possibly_ go wrong?

~~~
ycombinatoracc
Paypal regularly close/freeze funds for customers, putting many many
businesses out of business, causing all sorts of issues

This can not be done with your "quasi-bank niche", until it happens to you you
dont realise how shitty Paypal can be, and if they block you altogether you
are effectively cut off from being able to spend money online, well this was
the case until bitcoin came along

Long live bitcoin

~~~
Karunamon
I'm not sure why I got down voted - maybe the sarcasm was not quite sarcastic
enough? We agree - Paypal's service sucks, and seeing them handle something
that happens to have less regulation than they have now can not possibly be a
good thing in my mind.

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imaginenore
That title has two different meaninings, depending on what "support" means.
Both are true.

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kolev
So, then all those Bitcoiners who curse PayPal as the biggest enemy should
stop at once as it serves them well?

