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For Those Who Had Not Heard...

Posted By: Jim Wilson
Date: Monday, 8 July 2002, at 7:25 p.m.

eBay is buying out Paypal.

Now I want everyone to know that I run hot and cold on this one. On the one hand Paypal has had some problems of late and perhaps eBay might stabilize this awesome online payment service.

But on the other hand eBay is like the online auction "all being". They are so powerful already that they can change the rules at any time and noone can stand up to them which means that their sellers often have to "take it on the chin".

Don't get my wrong folks. I love eBay. I make money there afterall. But I don't like any entity that becomes so powerful that it is only answerable to itself. (and in eBay's case, it's stockholders) And I cannot help but wonder how this move will effect those who use Paypal for money transfers outside of the realm of eBay.

Bottom line...there are lots of other payment services available. I for one am going to look into them and join one based on my investigations. I don't mind using eBay payment methods for eBay transactions. But I don't want them to control all of my online finances.

This is, of course, just my opinion as usual. And this post is meant to inform. I am just in a little state of shock that eBay was able to make this move.

Happy Bidding All!
Jim

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