Topic: 325 million new potential users - page 3. (Read 448 times)

Actually, no, we're talking about two different things.
Paypal is a service, it can run on USD, bitcoin, gold, apples, pigs, or trading cards.
Bitcoin is a currency, it can be used by me, you, PayPal, BoA, Amazon, or the government of Niue.

If you consider Paypal an enemy, so could you said about coinbase, bitpay, or actually anything that provides a 3rd party service.

Anyhow, bitcoin needs no more enemies, it was supposed to kill a  lot of things and in reality, we might need exactly those services to collaborate in order to eventually reach that ever mentioned mass adoption.

Gaypal won't adopt bitcoin. What about their reputation? Aren't bitcoin and paypal 2 enemies? 

As @stompix justified why it won't work, I would like to ask. If it works, will we pay both TX fee and paypal fee? 

It would be great, but until I see it then it isn't real! If I can have a friend venmo me BTC instead of fiat that would be sweet

It would be a great news especially for countries who lack good exchanges as for sure with paypal, one can buy and sell their crypto at a standard price in the market. It's a big platform that has millions of users, it might not  lead to mass adoption as it's not expected everyone would transact bitcoin using the paypal platform but it would be a great help to meet that goal in the future.

With this big news, I believe soon enough there will be bigger news that will follow.

Let's assume all the PayPal users buy bitcoin and ...hurray we have mass adoption.
But for them to actually be "users" they would need to at least withdraw that currency to their wallet, otherwise, they would be holding just promises of payment from Payal. Now, there is a tiny problem with that happening, soon! 
For 300 million people to cash out their BTC it will take close to 3 years, and this only if nobody is using the blockchain for anything else.

Thinking of anything in the order of millions and adding things like soon, short time, in a little while is unrealistic.

The other aspect is that most of the people who are using PayPal have heard of bitcoin, those that wanted to buy have done it already, there is a very limited userbase that would buy BTC for the first time just because PayPal added this option.
Just look in this forum, a lot, and I mean a lot of people have a Paypal account and they are already getting their BTC from somewhere else, those will not be new clients.

One..let's say a good thing, that might come out of this is that maybe Paypal would take a bit of the tx burden from the chain if they would allow their users to send cryptos to each other and use their own system and not transactions on-chain. Of course, that would come with a lot, a lot of problems since it will mean they have total control over your coins but....it might be one of the advantages.

Anyhow 300 millions potential users, yeah potential, just like all US people are potential subscribers of the New Yorker!
300 000 new users that might be closer to reality.

in my experience this (investigating the technology and hiring blockchain developers) usually leads to these companies creating their very own centralized altcoin like what Facebook have been trying to do.

but also in this particular case there is good chance that it is actually to integrate bitcoin buying option since these are basically online digital fiat wallet and would benefit a lot from fees they can earn when people buy bitcoin using their crappy services.

i don't think this causes any kind of mass adoption because mass adoption happens when people start using bitcoin as a currency to buy stuff which will only happen when they become more willing to spend it and the merchants to become more willing to accept it.

I would be so happy to send BTC via PayPal and pay insane 5% PayPal transaction fees on top of the usual blockchain transaction fee,just because I love Paypal and want to give them free money!
I would be so happy to have a PayPal Bitcoin wallet and stay in constant fear that Paypal is going to block,limit,ban my account for any reason they could imagine.
I would be so happy to setup a Paypal business acocunt and start selling good and services accepting BTC payments,so my buyers could easily refund scam me,by using the Paypal dispute/chargeback system and their buyer protection policies.
Anyway,It would be SOOO nice that Paypal will adopt Bitcoin.

I'm just kidding.We don't need "ScamPal" in the cryptocurrency world.

I liked that opinion coming from twitter



If PayPal to add cryptocurrencies, it will be another way to control your purchases, transactions, surveill on your habits, etc. It doesnt increase the level of adoption in places where people have no access to banks. It won't help them to buy bitcoin and transact at any time they want. Governments will have an ability to prevent your from using bitcoin through PayPal that discrediting the whole network by creating an illusion that bitcoin is censorable. As a result, 325 millions will have misconception of how to use bitcoin network properly. Adoption of illusions, misconceptions and underestimations, not adoption of cryptocurrencies.

if this is something confirmed in the future (paypal integrating bitcoin into your service) have a greater chance that the bitcoin price will increase, but talking about the present I doubt that only with this news it is possible to break the $10500 which is being a very big challenge and until the day that paypal integrates bitcoin into its services the price maybe will be over $11000.

I had to click on the link on the paypal website to see if it was true, this time the news sites related to bitcoin are to be congratulated because they didn't post rumors, they posted things from the credible source

Since I haven´t found that topic discussed, I decided to start this thread.

https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling

The rumour is backed up by another rumour (or is it?) : https://cointelegraph.com/news/paypal-is-hiring-crypto-engineers-amid-rumors-of-bitcoin-integration 

That could lead to mass adoptions earlier than expected and could have a effect on the price that we haven´t seen yet. Maybe that could accumulate the necessary force to break through Bitcoins sell barrier between 10 and 12K.

Your opinions on that news?