digitalman
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posted on November 21, 2000 04:13:29 PM new
There is a big article in the local newspaper about PayPal. The picture shows X.com Corp. Chairman Peter Thiel and Pres. and CEO Elon Musk holding up an X.com Visa card. That Peter Looks shifty and he looks like he is thinking - We will tell them its FREE FOREVER and even give them money for signing up and once we corner the market we will charge fees and rake in the dough (laughing all the way to the bank).
And that Elon just looks like a geek.
It says that 1 year old PayPal has signed up 4 million U.S. account holders and 140,000 more users are signing up each week, who transfer an average of $6 million each day via e-mail.
It has a little history of the company and that they had 24 workers last October and now have 500.
They have raised $170 million in venture capital and will have an initial public offering of its stock early next year.
Their goal is to turn a profit by 2002 and have made the biggest step yet by charging a transaction fee to its biggest customers. (thats what it says) Causing some grumbling among longtime users.
Peter Thiel says "There are so many other payment points that we can go after. Wouldn't it be great if we could all interface with a single payment system like ours?" Most people will gravitate to wherever the currency is most widely accepted. And they envision the day when digital cash becomes common currency throughout the economy.
That Peter has big ideas and big dreams.
Some how I don't think that FREE FOREVER was their intent from the beginning. (just as it has been said here many times before)
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VeryModern
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posted on November 21, 2000 04:19:22 PM new
He has built his city on shaky ground.
Or maybe it is a swamp thing.
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molly001
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posted on November 21, 2000 04:41:44 PM new
VeryModern: Agreed.
I still contend they should have concluded their email announcing their increased fees with "It's what the American People want..."
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macandjan
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posted on November 21, 2000 04:46:10 PM new
After he shows everyone how to do it them someone else can do a startup with the next generation of hardware and software and when they shave a 1/4% of the price there will be a stampede to them. They better not count on loyalty.
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preacher4u
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posted on November 21, 2000 04:50:31 PM new
Off topic....
Does anybody knows if the post office is going to be open this next Friday & Saturday?
Thanks in advance!
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VeryModern
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posted on November 21, 2000 04:54:38 PM new
I think we will see lots of this kind of paypal fluff in the next weeks leading up to their IPO. No mention of the competition, downplaying any controversy, etc. so that they can sucker suckers into buying shares. Try to pull off one last huge Internet IPO before the end is really the end. Let the greasing begin. Makes me think of thestreet.com. All pomp and ego - no circumstance.
>>Peter Thiel says "There are so many other payment points that we can go after. Wouldn't it be great if we could all interface with a single payment system like ours?" Most people will gravitate to wherever the currency is most widely accepted. >>>>>.
This quote is a first rate beautiful piece of work by a smooth operator.
I can hardly wait for the day they go out of style.
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macandjan
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posted on November 21, 2000 05:09:51 PM new
Watch the Rocket rise for a week. At the first half point dip sell short.
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preacher4u
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posted on November 21, 2000 05:27:26 PM new
More than a half hour and no response to a simple question.
Thanks
Geeeez...
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abingdoncomputers
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posted on November 21, 2000 05:29:26 PM new
Preacher:
I'm not certain but I think the POs will be open both days (Fri. & Sat.).
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preacher4u
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posted on November 21, 2000 05:34:06 PM new
abingdon
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VeryModern
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posted on November 21, 2000 05:42:00 PM new
My husband says that they are only closed Thursday.
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amalgamated2000
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posted on November 21, 2000 06:25:03 PM new
If they are planning an IPO early next year, they should have a prospectus available soon. Man, would I like to get a look at that...
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oakshopper
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posted on November 21, 2000 07:24:40 PM new
The PayPal clouds lifted for me yesterday and the sunshine of reality came pouring in. I was the proud owner of a "personal" account who thought FREE was great and would last... well, at least a little longer than it actually did.
One of my customers signed up for their new account and after a little trial and error sent me $200 and change. Imagine my surprise when I got an email from PayPal informing me that I now had two choices:
Upgrade my "personal" account to the exciting new "Premiere" account, or notify my customer that I was "denying" their attempt to pay me. Gee, wouldn't that have gone over great with a customer I had just talked through the PayPal payment procedures? Here is the main part of the text of that PayPal form email:
"In order to reduce the cost of processing credit card transactions for
accounts that do not pay fees, PayPal has introduced a new limit on Personal
Accounts: a $500 limit on receiving credit card payments every six months.
Payments funded from the sender's bank account or existing PayPal account
balance will not count against the recipient's limit.
If you upgrade to a Premier Account, all your pending credit card payments
will immediately be completed. With your upgraded account you will receive
a range of premium features in addition to the ability to accept unlimited
credit card payments. And the fees on incoming payments are low - just 25¢
for payments under $15, and 25¢ + 1.9% on payments over $15."
Now I get it - $4.90 to complete the deal. And I have something else I have to figure into the eBay selling equation next time. Cool.
Dennis in TX
I got a haircut and I got a real job.
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tomwiii
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posted on November 21, 2000 07:32:54 PM new
Pal-Hell SUCKS! and Musk SMELLS!
Fell free to quote Uncle Tom!  
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Puddy
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posted on November 22, 2000 12:34:35 AM new
THERE IS ANOTHER CHOICE!
Exchangepath.com
Right now it is free to buyers and sellers alike. Yes, they state that they reserve the right to change this. Fine. At least they tell you that upfront.
It is amazingly easy to sign up and they don't ask for your Social Security number.
They accept MORE credit cards than PayPal: Visa, Mastercard, Discover, Diners Club, American Express Charge Card, and Visa & Mastercard Debit Cards. Or you can also pay from your existing account, etc. In other words they are better than PayPal.
One of our auction winners e-mailed me only hours after I had signed up with Exchangepath.com. He asked if I could tell him how to use his credit card on PayPal and if it was secure. I gave him the following link - http://www.ygoodman.com/paypal.html and I gave him a link to Exchangepath.com and told him to take his time and research both as we would accept either. Shortly after we received a payment notification from Exchangepath.com. Big surprise.
Folks, people don't necessarily care which service they use as long as it is secure and allows them to pay by credit card. So take a look at them and if you like what you see, make an addition to your auctions and then change your other links. We've just added this to our auctions and I'm putting into my congratulatory e-mails as well:
<center><font size=+1><font color=green>
Due to information which has recently come to our attention, if you are considering using PayPal to pay for this auction we would like you to view the information at this site first: http://www.ygoodman.com/paypal.html <br><br>
We now accept Visa, MasterCard, Discover, Diners Club, as well as American Express Charge Card at Exchange Path! It works like PayPal but the options are greater, we feel better about the terms, and currently there is NO CHARGE to the buyer or seller. Please check it out here: <br><a href="http://www.exchangepath.com/" target="_blank"><img src="http://www.exchangepath.com/consumer/images/88_x_33.gif" alt="ExchangePath" width="88" height="33" border="0"></a></font>
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digitalman
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posted on November 23, 2000 04:13:27 AM new
I'll bet we can make some money buying PayPal stock when it is available and selling at the first dip.
They used us why not use them.
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barbarake
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posted on November 23, 2000 05:44:12 AM new
digitalman - I don't know about you but I always thought it was a bad idea to sell stock when it's 'dipping'. "
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Empires
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posted on November 23, 2000 05:53:04 AM new
Just pulled out our monies from PP account. If the Titanic is going down then this rat is heading for the beach!
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yisgood
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posted on November 23, 2000 06:23:36 AM new
I have just discovered that Exchangepath has even bigger security problems than Paypal. In an email to me, they state that they do NOT record the address of the credit card holder. So even they do not know if a CC is stolen until the report comes in. If you receive payment from a stolen CC, they will restrict your entire account, even if YOU are the one who reported it to them! I am taking EP off my recommended list. Right now my top free CC service is Moneyzap. They are run by Western Union, which has a long history of dealing with funds transfer.
http://www.ygoodman.com/payments.html
http://www.ygoodman.com
[email protected]
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digitalman
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posted on November 23, 2000 09:00:47 AM new
What are the best on-line stock trading sites. (Best service with the lowest fees)
barbarake
Don't you buy high and sell low?
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VeryModern
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posted on November 23, 2000 09:10:42 AM new
I have had accts at both etrade and datek for some years, and prefer Datek. Great streamer for RTQ mainly plus it's cheap and I have never had a problem. Etrade has always felt "slow" in comparison to datek on every level. For example, they were a year behind datek in offering free rtq. Datek is also much more streamlined as far as navigating.
There are cheaper options though. Lots more choices now then when I opened my accounts.
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