BITCOIN

Bitcoin wallet lets users pay via Twitter as cloud storage provider ditches Paypal feature

TAGs: Bitcoin, Jasmine Solana, PayPal, Seafile

One bitcoin wallet is looking beyond emails and bitcoin addresses for peer-to-peer transactions.

Bitcoin wallet lets users pay via Twitter as cloud storage provider ditches Paypal featureiPayYou recently rolled out its “Pay-by-Twitter” feature, a first-of-its-kind tool that allows users to send bitcoin using the receiver’s handle on the popular microblogging platform. The recipient can opt to hold the bitcoins in his or her iPayYou account, or send the bitcoins to someone else, or trade the digital currency for dollars that will be deposited into their bank account.

“Twitter is one of the most widely used social media networks worldwide and despite the speed of technological innovation in the 21st century, no other full-service bitcoin wallet offered this feature until now,” iPayYou founder Gene Kavner, a former Amazon executive, said in a statement.

Seafile ditches Paypal payments, turns to bitcoin

It appears that Paypal’s intrusive questions has gotten the popular payment option in hot water recently.

The payment processor reportedly sent a questionnaire to one of its clients, cloud-based storage solution Seafile, in order “to better understand their business.” Seafile, however, thought the implications of some questions were “too intrusive” on their business of providing secured file storing business.

Still, the people at Seafile answered the questionnaire, but Paypal felt their answers were not good enough, prompting the payment processor to block the cloud storage business from using their service.

And so, this brings us to the main point of the story: Seafile is now using bitcoin as a method of payment.

Seafile said in a blog post that they turned to a payment method and service provider—in this case, bitcoin and the Bitpay group—that they felt will give them consistent service and privacy, although the latter term wasn’t specifically stated.

Paypal’s loss is bitcoin’s gain, not that we’re pitting the two against each other. The main issue here is privacy, and why one group’s definition differs from another group. Every party involved in a service loop, like that of payments services, should agree regarding this term, especially since these systems tend to evolve quickly.

Bitcoin daily price and transaction volume

The price of bitcoin recovered on Friday, trading at a higher $662.71 with a market cap of $10.42 billion.

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