Ebay might start accepting Bitcoin payments

Senior vice president of eBay Americas claimed that Ebay might integrate payments in Bitcoin due to mainstream cryptocurrency adoption
13 December 2017   1720

Scott Cutler, a senior vice president who oversees eBay’s Americas business unit, told Yahoo Finance in an interview that eBay, a multinational e-commerce corporation headquartered in California, is seriously considering adding the function of payments in cryptocurrency, particularly in Bitcoin.

This is a trend that everybody is talking about, but sadly, at eBay, we don’t currently accept Bitcoin as a form of payment. We’re seriously considering it as cryptocurrencies become more of a mainstream payment instrument, but we’re not quite there yet.
 

Scott Cutler

SVP, Ebay Americas

There are some retailers who accept cryptocurrency, for example, American internet retailer Overstock lets users pay in Bitcoin since January of 2014. But mostly, major retailers and wholesalers refuse to launch function of payments in Bitcoin becasuse of its high fees, volatility and existence of more suitable for payments cryptocurrencies like Monero or Tether. For instance, Steam digital distribution gaming platform has recently refused to accept Bitcoin as a payment method because of high transaction fees.

Currently eBay accepts payments through PayPal, credit cards, and debit cards, but does not accept any cryptocurrency as means of payment yet.

At the moment of press, these are main market parameters of Bitcoin:

  • Average price: $17 096.80
  • Marketcap: $286 174 786 800
  • 24h volume: $14 326 600 000

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   307

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.