Paypal subsidiary Braintree has started working on ways to process payments using the Bitcoin virtual currency.The work is due to be completed within "the coming months", said Braintree boss Bill Ready in a conference speech.It means that firms such as Uber and Airbnb, which use Braintree as a payment processor, will also be able to accept bitcoins.So far, there is no indication that bitcoins will be accepted directly by Paypal and eBay.During his speech at the Techcrunch Disrupt conference in San Francisco, Mr Ready said Braintree's work should be seen as its "first foray" into using bitcoins.Braintree processes payments on mobiles and websites and said it would work with Bitcoin payments site Coinbase to process transactions carried out with the crypto-currency.Bitcoins are a form of money that use unique numbers instead of notes and coins as a store of monetary value.In November 2013, the value of one bitcoin hit $1,000 (£620) but it has fallen sharply and now each one is worth about $470 (£290).Braintree's work meant that tens of thousands of merchants would soon be able to accept the digital cash too, said Mr Ready.Gil Luria, an analyst at Wedbush Securities, told Bloomberg that Braintree's announcement was a "very substantial development".

He added that it might also speed up adoption by Paypal which would mean "millions of retailers will de facto be accepting bitcoin overnight".Paypal spent about $800m (£500m) in September 2013 to buy Braintree, largely because of its role in mobile payment systems.Braintree's announcement comes as Wired reports on an attempt to unmask Bitcoin creator Satoshi Nakamoto.The tech news site said a hacker has claimed to have take control of an email account known to be used by the reclusive inventor who has never revealed their true identity.The hacker said they would supply information that would lead to the identification of Mr Nakamoto if they were paid 25 bitcoins (£7,300).Wired was sceptical of the claim to have information about Mr Nakamoto as little evidence was provided by the hacker for his assertion.An earlier attempt to unmask Mr Nakamoto was made by Newsweek which claimed an American called Dorian Prentice Nakamoto was the elusive inventor.He denied being the creator and interest in the claim led to the real Satoshi Nakamoto issuing a short statement refuting any link with Dorian Nakamoto.

PayPal Announces Bitcoin Support by Jarred Walton on September 23, 2014 8:03 PM EST Posted in GPUs Bitcoin PayPal 33 Comments | Add A Comment 33 Comments + Add AComment It's been a long time in coming, but PayPal announced in a blog post today that they have partnered with BitPay, Coinbase, and GoCoin to allow merchants to accept Bitcoin.ajouter bitcoinThis comes just a few weeks after the announcement that businesses working with Braintree would be able to accept Bitcoin, and this is a more direct use of Bitcoin.bitcoin rx 470The support will come via integration in the PayPal Payments Hub, and there is one significant catch: for now this is only supported for merchants in North America.litecoin hash rate stats

Still, it's at least one small step towards further acceptance of virtual currencies.There are other qualifications to using Bitcoin with PayPal as well.The blog notes, "To be clear, today’s news does not mean that PayPal has added Bitcoin as a currency in our digital wallet or that Bitcoin payments will be processed on our secure payments platform.bitcoin atm irelandPayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers.litecoin hardware efficiencyOur approach to Bitcoin is no different.litecoin mining better than bitcoinThat’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop."bitcoin usd kaufen

Interestingly, this comes at a time when the mining phase of Bitcoins and other virtual currencies has largely moved beyond GPUs and onto dedicated SHA256 and Scrypt ASICs.That's good news for gamers and graphics gurus like our own Ryan Smith, as it means we hopefully won't see quite as many GPUs that should be playing games sacrificed in pursuit of cryptocurrency mining.asus bitcoin motherboard(And yes, I know there are many alt-coins that use other Proof of Work algorithms that haven't been ported to ASICs, but few if any are actually profitable to mine with GPUs at this point.)bitcoin exec arrestedScott Ellison of PayPal also notes that PayPal has worked with many merchants selling cryptocurrency mining hardware, but they do not work with pre-orders/pre-sales (i.e.early funding of hardware that has not yet shipped).Today's announcement and the earlier Braintree announcement mark a clear change in tone from PayPal regarding Bitcoin, as the history of PayPal and Bitcoin has been a bit rocky up until now.

Going back a few years, in the early days of Bitcoin PayPal actively took steps to prevent people from using their service to purchase Bitcoins.Others have reported bans from PayPal and closed accounts for dealing in Bitcoins.Obviously the inability to roll back purchases made via Bitcoin is a risk, and companies like Coinbase and BitPay now have services in place to mitigate some of the risks., , , and others all beginning to accept Bitcoin as a viable method of payment, it looks like PayPal has decided to join the club.While there are still plenty of naysayers when it comes to Bitcoins and cryptocurrencies in general, this is great news for Bitcoin proponents as integration with PayPal opens the doors for thousands of small shops to begin working with Bitcoin.You can login if you already have an account or register by clicking the button below.Registering is free and all you need is a username and password.We never ask you for your e-mail.User name Password Remember me?1 Archived Voat PayPal account has been permanently limited (announcements) submitted 2 years ago by The reason given was "Under the Acceptable Use Policy, PayPal may not be used to send or receive payments for certain sexually oriented materials or services or for items that could be considered obscene".