Topic: [2020-06-23] PayPal Rumors Push Bitcoin Higher as On-Chain Transactions Surge - page 2. (Read 375 times)
June 28, 2020, 11:03:55 PM
@figmentofmyass. They might treat their customers similar to how online stock brokerages treat them in America, however. Anyone who does not reach the annual income required might not be qualified to use their service to purchase bitcoin.
June 25, 2020, 02:26:14 PM
@figmentofmyass. I speculate that Paypal might only follow what Neteller has done. They might create a cryptocoin brokerage service that cannot withdraw your funds in cryptocoins.
https://bitcointalksearch.org/topic/m.51567659
https://bitcointalksearch.org/topic/m.51567659
rumor has it that it will go further than that, with full wallet functionality and buy/sell capabilities:
Quote
“My understanding is that they are going to allow buys and sells of crypto directly from PayPal and Venmo,” a well-placed industry source told CoinDesk. “They are going to have some sort of a built-in wallet functionality so you can store it there.”
https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling
https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling
i think that makes sense---paypal would be leveraging their market share against competitor cash app, whose popularity is rising fast on the back of its bitcoin service.
June 24, 2020, 11:07:21 PM
@figmentofmyass. I speculate that Paypal might only follow what Neteller has done. They might create a cryptocoin brokerage service that cannot withdraw your funds in cryptocoins.
https://bitcointalksearch.org/topic/m.51567659
https://bitcointalksearch.org/topic/m.51567659
June 24, 2020, 04:44:24 PM
PayPal getting involved in BTC at this point seems pretty unlikely given the KYC requirements. While they no doubt do know their customers, the difference between PayPal and, say, Coinbase in the KYC requirements seems huge. (I haven't had to register for either in quite some time so perhaps that has changed).
How huge was the difference during the time when you have registered? Also, how many users does Paypal presently have that has done KYC already?i have a verified paypal account from years ago that i occasionally still use. i don't believe i've ever given them my SSN, address, scan of driver's license or selfie---which have become standard KYC on licensed/regulated platforms like coinbase and square cash app.
if the rumors are true, i bet they'll operate it as a segregated service where people who buy/sell crypto will be subjected to a higher level of KYC.
June 24, 2020, 05:44:23 AM
If this rumor is somehow true and Paypal decides to add Bitcoin as one of their recognized currency I won't still store my Bitcoin in that website, with chargebacks and a centralized authority this wouldn't really mix well in the crypto industry as proven by custodial wallets. Yeah we will have a good option for capturing the general audience but it wouldn't really attract me going with them. There power on what they can do with the funds I have is something that would really make me stay away in what they might be offering in the future.
Its better to stay on where theyre currently rather than considering on adding up btc/crypto. Its fully contrary i shall say and i dont know on how it do looks like when two things collaborate.
Same as you said i wouldnt touch this one in talks of storing or making it as a payment system towards my btc tx's. We know that there are lots of options out there that we have
been used to and also much more safer since theres no intervention of any service or whatsover.If they decide to push it up then let them be and lets see on how many
crypto users will bite.
With regards to Paypal implementing Bitcoin as one of their cryptocurrencies I believe their transactions would mostly be done off the chain meaning these Bitcoin transactions will be done not in Bitcoin's blockchain but with Paypal's payment gateway simply because if they don't do this they are literally just like a normal wallet for any crypto users out there. At least by having their own payment gateway for Bitcoin they could justify the fees and transaction time they will want to implement with the introduction of Bitcoin in their service.
June 23, 2020, 07:34:55 PM
Morons..
...
The so-called surge is happening weekly, it's the difference between Sundays and Mondays, this is how it looks for 30 days, notice that 31May, 7th, 14th and 21st of June are all Sundays:
...
...
The so-called surge is happening weekly, it's the difference between Sundays and Mondays, this is how it looks for 30 days, notice that 31May, 7th, 14th and 21st of June are all Sundays:
...
lol. Those pics are worth 1000 words.
PayPal getting involved in BTC at this point seems pretty unlikely given the KYC requirements. While they no doubt do know their customers, the difference between PayPal and, say, Coinbase in the KYC requirements seems huge. (I haven't had to register for either in quite some time so perhaps that has changed).
How huge was the difference during the time when you have registered? Also, how many users does Paypal presently have that has done KYC already?
June 23, 2020, 04:14:18 PM
If this rumor is somehow true and Paypal decides to add Bitcoin as one of their recognized currency I won't still store my Bitcoin in that website, with chargebacks and a centralized authority this wouldn't really mix well in the crypto industry as proven by custodial wallets. Yeah we will have a good option for capturing the general audience but it wouldn't really attract me going with them. There power on what they can do with the funds I have is something that would really make me stay away in what they might be offering in the future.
Its better to stay on where theyre currently rather than considering on adding up btc/crypto. Its fully contrary i shall say and i dont know on how it do looks like when two things collaborate.
Same as you said i wouldnt touch this one in talks of storing or making it as a payment system towards my btc tx's. We know that there are lots of options out there that we have
been used to and also much more safer since theres no intervention of any service or whatsover.If they decide to push it up then let them be and lets see on how many
crypto users will bite.
June 23, 2020, 03:07:29 PM
If this rumor is somehow true and Paypal decides to add Bitcoin as one of their recognized currency I won't still store my Bitcoin in that website, with chargebacks and a centralized authority this wouldn't really mix well in the crypto industry as proven by custodial wallets. Yeah we will have a good option for capturing the general audience but it wouldn't really attract me going with them. There power on what they can do with the funds I have is something that would really make me stay away in what they might be offering in the future.
June 23, 2020, 02:13:30 PM
Morons..
...
The so-called surge is happening weekly, it's the difference between Sundays and Mondays, this is how it looks for 30 days, notice that 31May, 7th, 14th and 21st of June are all Sundays:
...
...
The so-called surge is happening weekly, it's the difference between Sundays and Mondays, this is how it looks for 30 days, notice that 31May, 7th, 14th and 21st of June are all Sundays:
...
lol. Those pics are worth 1000 words.
PayPal getting involved in BTC at this point seems pretty unlikely given the KYC requirements. While they no doubt do know their customers, the difference between PayPal and, say, Coinbase in the KYC requirements seems huge. (I haven't had to register for either in quite some time so perhaps that has changed).
June 23, 2020, 06:31:23 AM
Morons..
https://twitter.com/glassnodealerts/status/1275387039693910017
The so-called surge is happening weekly, it's the difference between Sundays and Mondays, this is how it looks for 30 days, notice that 31May, 7th, 14th and 21st of June are all Sundays:
https://twitter.com/glassnodealerts/status/1275387039693910017
The so-called surge is happening weekly, it's the difference between Sundays and Mondays, this is how it looks for 30 days, notice that 31May, 7th, 14th and 21st of June are all Sundays:
June 23, 2020, 06:09:45 AM
Possibly sparked by the rumor that the online money transfer company PayPal might get involved with cryptocurrencies, the bitcoin (BTC) price jumped more than 4% yesterday, before falling back slightly Tuesday morning.
The unconfirmed news that PayPal might enable direct buying and selling of crypto might have been the main driver for yesterday’s market rally, leading to green numbers across the board in both bitcoin and most altcoins.
The move in price was also noticed by the blockchain analytics firm Glassnode, which shared an alert today saying transaction volume on the bitcoin network has “increased significantly” over the past 24 hours.
https://cryptonews.com/news/paypal-rumors-push-bitcoin-higher-as-on-chain-transactions-s-6917.htm
The unconfirmed news that PayPal might enable direct buying and selling of crypto might have been the main driver for yesterday’s market rally, leading to green numbers across the board in both bitcoin and most altcoins.
The move in price was also noticed by the blockchain analytics firm Glassnode, which shared an alert today saying transaction volume on the bitcoin network has “increased significantly” over the past 24 hours.
https://cryptonews.com/news/paypal-rumors-push-bitcoin-higher-as-on-chain-transactions-s-6917.htm
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