I'm sure some people are very excited about this development and that is completely understandable. After all, paypal, the dreaded company many despise, is finally getting some real competition. I mean, no matter how you slice it, this can't be good news for them.

Paypal's demise

It's a known fact that paypal has been a dominant player for a very long time now. After all, there was and still is (as of writing this post) almost no way of skipping that line if you are buying or selling on Ebay. The access to this market is probably the main reason why Paypal grew as much as it did, but if I'm to be honest, I think their days are numbered now.

If you don't sell with paypal you might not be aware with their recent changes. Yes, they've gotten worse, and the most recent update to their fees is to me a sign that they are trying to cash grab as much as possible before they get kicked to the curve.

"No, you can't have the fees back!" - In what I can only describe as the most ridiculous thing I can come up with, Paypal has recently decided that it won't be refunding fees for refunded purchases. In other words, If I as a seller sell $1000 and pay $30 in fees, but my customer returned the $1000 product, I would be out the $30 that paypal took upfront.

I'm not aware of any fintech, or more accurately, any payment processor who does this, nor do I think that anyone would be so ridiculous as to attempt it. So, the question remains? Why?

Well, what if they've known about this upcoming change with Ebay, and thus need to cash grab as much as possible to survive the adaptation period that is right around the corner. Who knows? It does make some sense however.

Why Ebay?

I think the better question is: Why not? - No doubt one of the biggest markets in the world, right there, at your fingertips. If you don't see how this is going to impact cryptocurrencies, you've been sleeping on the marigolds. This is huge, or to but it in today's lingo; YUGE.

Up until very recently I had given up completely on selling on ebay. My decision mainly came from my issues with Paypal and some money that I never got back, regardless of the documentation I presented them, and despite me having back and forth emails with the buyer who confirmed receiving the product. So as you can imagine, this is making my mind race a bit.

Soon the Baristas will join

Listen, we are still early in the game, but don't be fooled, time flies rather quickly. If all of the sudden you start hearing Bitcoin talk from the dude at Starbucks, I'll tell you what. "You are getting in late!" - Not that this is financial advice my friends, but we are in the cusp of opportunity as far as I can tell.

Oh, and before I forget. Yes, now you can buy your coffee with crypto too. So yeah, there's that...

MenO