[2018-08-16] PayPal Ex-COO: Bitcoin, Crypto Fulfilling Our Original Vision

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Quote from: sheld0n on August 16, 2017, 09:48:46 AM

Former PayPal COO David Sacks has said cryptocurrency is “fulfilling PayPal’s original vision” to “create ‘the new world currency.’”

That guy just summed up how I feel about PayPal and Bitcoin in general. Bitcoin is what PayPal was meant to be. Simple internet payments without the need for bank accounts or credit cards. The only thing standing in the way now is the scaling issue.

Quote from: darkangel11 on August 16, 2017, 06:43:09 PM

Even if BTC fails somehow there are alts like ripple waiting in line.

Ripple is just PayPal with extra steps Tongue

Apart from that I agree.

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Quote from: darkangel11 on August 16, 2017, 06:43:09 PM

And I thought PP was against BTC the whole time, suspending accounts connected with crypto trading. Also their failing chargeback policy... PP to me is a failure and I've stopped using them long time ago. The only "vision" they have is for them to become a monopoly by crushing competition like WE and BTC, but it's not going to happen. Even if BTC fails somehow there are alts like ripple waiting in line.
If this guy was a current CEO and said it he wouldn't keep the position for long.

Nice point mate. Paypal for me is against bitcoin. And this statement made by ex-COO is somewhat confusing to me. They don't like bitcoin since its inception and will take this stance because its really a competition to them. But unfortunately, Bitcoin is too strong just to be destroyed by Paypal. And now it seems to be that bitcoin is gaining grounds against Paypal and Western Union. Good that this guy no longer works for Paypal and now he can expressed his opinion in favor of bitcoin technology.

vit05

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He is investing in cryptocurrency for some time now. He has founded Yammer and Zenefits and invest in more than 30 companies. This interview is amazing, this part is the one that I think people should pay more attention :

People in the U.S. — and especially longtime participants in the U.S. financial system — have tended to underestimate bitcoin because we have long enjoyed relatively stable political and financial systems. People in parts of the world with less trusted systems have gotten it sooner because almost anything would be preferable to having their life's work trapped in a fiat currency that could collapse or be confiscated at any moment.

You all could see what is going on in Venezuela and some countries in Africa.

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And I thought PP was against BTC the whole time, suspending accounts connected with crypto trading. Also their failing chargeback policy... PP to me is a failure and I've stopped using them long time ago. The only "vision" they have is for them to become a monopoly by crushing competition like WE and BTC, but it's not going to happen. Even if BTC fails somehow there are alts like ripple waiting in line.
If this guy was a current CEO and said it he wouldn't keep the position for long.

TravelMug

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Quote from: AK47- on August 16, 2017, 11:51:46 AM

Quote from: iamTom123 on August 16, 2017, 11:18:34 AM

Well, those were nice words about Bitcoin coming from a big and popular online company called PayPal. I am sure that PayPal right now is feeling some heat due to Bitcoin and even if they know they have a captured market there are already many PayPal members who are using less of their service for many factors too long to mention here.

Now, having said those words above, should we be really careful with Bitcoin due to its speculative in nature and which can already be excessive akin to the dotcom bust many years ago? I don't have a large share of Bitcoin but it would be a shock to many if one day Bitcoin will just withered for reasons only time can tell.

He is just ex-COO. His words doesn't account for the PayPal company. This was his personal claim and he is quite right about it. I think if Bitcoin or other cryptocurrencies was to wither away. They wouldn't have survived so long. They have the potential of changing the world's traditional monetary system and thus acceptance is increasing with fast rate because of various benefits cryptocurrencies has to offer. I think the ony thing that can kill Bitcoin is another better form of monetary system than cryptocurrencies.

He is an ex-COO of paypal that is why he declared that this is also Paypal's vision, perhaps he knows this since he is former employee of the company, this is not his personal claim. But nevertheless, it is good to hear that Paypal want's to have a "the new world currency" and now bitcoin is fulfilling it for them. We really know what bitcoin can bring globally, thus we are taking baby steps to ensure that in the future, bitcoin will remain the dominant crypto in the market specially once mass adopted.

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Quote from: sheld0n on August 16, 2017, 09:48:46 AM

Former PayPal COO David Sacks has said cryptocurrency is “fulfilling PayPal’s original vision” to “create ‘the new world currency.’”
In an interview with CNBC, Sacks, who worked with the payment network in its early days around the year 2000, said there were strong comparisons between the current Blockchain scene and the dot-com boom of the 1990s.
“For those of us who lived through the dot-com era, this feels reminiscent. You have some of the same speculative excess and random enrichment,” he told the publication. Article

When the government can apply pressure on you (with respect to know your customer and other norms), you evolve into paypal even if your original dreams were different. That is a big advantage of decentralized currencies.

AK47-

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Quote from: iamTom123 on August 16, 2017, 11:18:34 AM

Well, those were nice words about Bitcoin coming from a big and popular online company called PayPal. I am sure that PayPal right now is feeling some heat due to Bitcoin and even if they know they have a captured market there are already many PayPal members who are using less of their service for many factors too long to mention here.

Now, having said those words above, should we be really careful with Bitcoin due to its speculative in nature and which can already be excessive akin to the dotcom bust many years ago? I don't have a large share of Bitcoin but it would be a shock to many if one day Bitcoin will just withered for reasons only time can tell.

He is just ex-COO. His words doesn't account for the PayPal company. This was his personal claim and he is quite right about it. I think if Bitcoin or other cryptocurrencies was to wither away. They wouldn't have survived so long. They have the potential of changing the world's traditional monetary system and thus acceptance is increasing with fast rate because of various benefits cryptocurrencies has to offer. I think the ony thing that can kill Bitcoin is another better form of monetary system than cryptocurrencies.

iamTom123

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Well, those were nice words about Bitcoin coming from a big and popular online company called PayPal. I am sure that PayPal right now is feeling some heat due to Bitcoin and even if they know they have a captured market there are already many PayPal members who are using less of their service for many factors too long to mention here.

Now, having said those words above, should we be really careful with Bitcoin due to its speculative in nature and which can already be excessive akin to the dotcom bust many years ago? I don't have a large share of Bitcoin but it would be a shock to many if one day Bitcoin will just withered for reasons only time can tell.

sheld0n

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Former PayPal COO David Sacks has said cryptocurrency is “fulfilling PayPal’s original vision” to “create ‘the new world currency.’”
In an interview with CNBC, Sacks, who worked with the payment network in its early days around the year 2000, said there were strong comparisons between the current Blockchain scene and the dot-com boom of the 1990s.
“For those of us who lived through the dot-com era, this feels reminiscent. You have some of the same speculative excess and random enrichment,” he told the publication. Article

Topic: [2018-08-16] PayPal Ex-COO: Bitcoin, Crypto Fulfilling Our Original Vision (Read 3808 times)