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More or less. I like to describe it as a 100% seller-financing deal, with the business itself as collateral, so you get the business back if you aren't paid what we agreed in the given amount of time.

Amazing. Perfect example of when Peter Thiel says that the best investments are in companies not easily categorized. That test works here imo

Paypal is going to acquire the shit out of them. Calling it now.

That's all I can think of - Bitpay/Coinbase/Gocoin partnered with PayPal because PayPal offered to acquire one or all of them.

Bitpay and Coinbase* offer only two advantages over PayPal - slightly cheaper transactions, and the ability to transact in Bitcoin. Due to the merchant account requirements of each you lose anonymous transactions, so for example Silk Road could never use one of these services. So it strikes me as extremely odd that these guys would be partnering with Paypal, basically giving away their advantage, if there wasn't something bigger in it for them down the road.

* not sure about Gocoin as I haven't looked at its merchant account offering.