BitPay sponsored angel-hack Seattle that I participated in this summer. Their developer api was horrible and poorly documented wasting everyone time. I was in one of the few groups that got it to work. When asking when we would find out who won the 5 bitcoin prize for best use of it we were told to contact bitpay. I contacted them multiple times and support told me to to contact their CEO who ended up not responding to my emails. I will not use bitpay in the future.
BitCoin is rocketing on this news it seems:<p>* <a href="https://btc-e.com/" rel="nofollow">https://btc-e.com/</a><p>* <a href="https://www.cryptsy.com/markets/view/2" rel="nofollow">https://www.cryptsy.com/markets/view/2</a><p>* <a href="https://www.bitstamp.net/" rel="nofollow">https://www.bitstamp.net/</a>
Is paypal just ignoring the IRS' recent guidelines that bitcoin is treated as property?<p>From <a href="http://www.bloomberg.com/news/2014-03-25/bitcoin-is-property-not-currency-in-tax-system-irs-says.html" rel="nofollow">http://www.bloomberg.com/news/2014-03-25/bitcoin-is-property...</a>:<p>Today’s IRS guidance will provide certainty for Bitcoin investors, along with income-tax liability that wasn’t specified before. Purchasing a $2 cup of coffee with Bitcoins bought for $1 would trigger $1 in capital gains for the coffee drinker and $2 of gross income for the coffee shop.<p>“It’s challenging if you have to think about capital gains before you buy a cup of coffee,” he said.
It wasn't just BitPay, also Coinbase and GoCoin: <a href="https://www.paypal-community.com/t5/PayPal-Forward/PayPal-and-Virtual-Currency/ba-p/828230" rel="nofollow">https://www.paypal-community.com/t5/PayPal-Forward/PayPal-an...</a>
More choices in how people create value, share it, buy, sell and trade it – that’s exactly what PayPal is all about,” said Scott Ellison, Senior Director, Strategy, PayPal.<p>That's amazing! And me thinking PayPal was all about our money!
Nothing could make me less interested in BitPay. PayPal is just such a negative connotation in my mind that it turns me off of a business partner just to know they are collaborating.
Hmmmm... I thought that a large reason many people helped develop bitcoin and it's community was to thwart Paypal, its highly-politically-motivated nature, and others like it.