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PayPal president hints at Bitcoin policy change

The UpTake: This potential lawsuit could force PayPal to play nice with bitcoin—a move that could spell trouble for existing cryptocurrency payment sites.

PayPal president David Marcus took to Twitter today to defend his company’s love of Bitcoin, but this was no random declaration of cryptocurrency love. The tweet addresses concerns arising from a suit threatened against the company for what are being construed as anti-bitcoin policies—and Bitcoin users had no intentions of letting the executive get away with the pro-Bitcoin spin.

Not willing to let Marcus get away with the vague positive-sounding message, another tweeter @BrainDamageLDN then asked the president to explain a document posted to image-sharing site, Imgur, that appears to be an email from PayPal explaining why the recipient's account was frozen.

The email explains, “PayPal may not be used for currency exchange including the sale of Bitcoin Miners, Lite Coins and Bitcoins."

But this exchange, and the possible change to policy at which it hints, took place on a much bigger playing field.

A PayPal merchant, so far only known by his or her screen name, TerraHasher, last week posted a message to a popular bitcoin forum claiming to have received permission from a judge to proceed with the suit against PayPal for blocking the sale of hardware use to create, or "mine" the currency, according to PandoDaily, who first noticed the message.

“We will be allowed to file a 4 MILLION dollar lawsuit against paypal, ” if they don't resolve the matter privately within two weeks of receiving a letter of notification, the user wrote.

If PayPal is indeed planning to change their written policy regarding Bitcoin, it should be of little surprise. As of December there were 15, 500 approved merchants, according to a representative of the company, and they processed over $100 million in transactions, meaning a possible relaxation of PayPal policy could have a big impact on existing startups in the field.

Source: upstart.bizjournals.com June 3, 2014 – 13:11

US regulations are hampering Bitcoin's growth

2013-11-18 12:55:55 by -

Many countries are putting out the welcome mat for Bitcoin. If the US doesn't change its approach, Bitcoin will go elsewhere
If the United States does not foster a reasonable regulatory environment for Bitcoin, the country might soon lose its head start in what could be the next great technological revolution. That's the message policymakers should hear today and tomorrow when the US Senate holds hearings on the virtual currency.
While Bitcoin is an international phenomenon, the United States has been central to its growth to date. Bitcoin's lead developer, Gavin Andresen, is an American based in the United States, as is the Bitcoin Foundation that employs him

Please let me know how I can help you Sandy

2014-03-05 04:30:43 by likereallywow

I was thinking of starting a kickstarter or other fundraiser to help you out with expenses related to coming after me. You set up a paypal or bitcoin address, I'd be happy to help spread your pleas for money for another retainer far and wide. I understand you're so proud you wouldn't take charity to keep your firstborn son, and I wish I could just set this up for you without asking and surprise ...th the gift, but I'd hate for this issue to be clouded by people thinking I was trying keep the money myself.
I see two possible angles here, pathetic old slag can't handle heat in kitchen or intrepid activist doesn't want to explain discrepancies in personal story she uses as reason for social change, despite being contrary to all other accounts of events even the ones she herself offers

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