Paypal bought up to 70% of all the newly mined bitcoin recently - page 2.

Spaffin

full member

Activity: 1316

Merit: 108

Quote from: Saisher on November 29, 2020, 12:35:05 PM

Quote from: nrvasquez on November 23, 2020, 11:46:33 AM

Ofcourse as a big party, Paypal will get the highest profit from FOMO and bullrun this time. but on the other hand they are also the party that triggers the bullrun, so I think it will be a healthy bullish if other big parties participate.

PayPal made a bold and a wise decision this is thinking long term profit, they can buy as many Bitcoin that they wants, they waited this long until they see that there is lesser risk to invest in Bitcoin, but there was a time that they are against Bitcoin, this is indeed a big turn of event, every company should emulate PayPal.

Undoubtedly, the PayPal solution is very beneficial for the entire cryptocurrency market and for each user in particular, since such a large investor in Bitcoin will definitely affect the value of the cryptocurrency. But I really don't like the hidden plans of PayPal, especially after many Pay Pal users who are somehow connected with cryptocurrency were blocked.

Vishnu.Reang

sr. member

Activity: 1974

Merit: 453

Quote from: CyberKuro on November 27, 2020, 06:35:25 AM

Quote from: Vishnu.Reang on November 26, 2020, 11:16:30 PM

Quote from: CyberKuro on November 26, 2020, 03:33:45 PM

~

PayPal is having billions of $$$ in reserve funds available and they can easily acquire medium-level exchanges and other cryptocurrency ventures. My biggest fear is that they may try to acquire Binance or Blockchain.com, which may have a very negative impact on the users of these platforms. What will happen, if PayPal acquires Blockchain.com, and then asks all the users to update their KYC?

Although PayPal has billions of dollars, yet it's not easy to acquire a crypto-company such as BitGo, they have discussed but there seems to be no agreement because this news has been quite a while but Pay Pal has not shown any cooperation other than with Paxos. You see, it's not that easy to buy a company if no one to sell it, even though they have a lot of funds. And I doubt Binance or blockchain.com will ever sell their company.

https://www.bloomberg.com/news/articles/2020-10-22/paypal-said-to-be-in-talks-to-buy-crypto-firms-including-bitgo

Purchases and acquisitions are not that rare in the mainstream market. I guess the same will occur with the cryptocurrency market, as it matures. I am not saying that Binance would agree to an acquisition as soon as PayPal makes an offer. Most probably, they would reject the proposal. But there are dozens of cryptocurrency exchanges out there, such as Houbi, LAToken, Kraken, BitMEX and VinDAX. Some of them would be willing to consider the proposal by PayPal, if the amount is right.

Saisher

full member

Activity: 2324

Merit: 175

Quote from: nrvasquez on November 23, 2020, 11:46:33 AM

Ofcourse as a big party, Paypal will get the highest profit from FOMO and bullrun this time. but on the other hand they are also the party that triggers the bullrun, so I think it will be a healthy bullish if other big parties participate.

PayPal made a bold and a wise decision this is thinking long term profit, they can buy as many Bitcoin that they wants, they waited this long until they see that there is lesser risk to invest in Bitcoin, but there was a time that they are against Bitcoin, this is indeed a big turn of event, every company should emulate PayPal.

TheGreatPython

sr. member

Activity: 2618

Merit: 335

Whether we are hitting $20,000 soon or not, I don’t know that, all I really wanted was real world adoption for Bitcoin. I want people, so many people, around the world to be adopting Bitcoin and using it mainly for transactions. All these institutions of a thing wasn’t what I was looking out for.

I do feel like institutions will just be here to be causing a pump and dump, although, maybe this one of PayPal will be quite different since they will be buying on a steady I guess? And that will help keep the price balanced? Another thing is that some of us here don’t even trust PayPal., It’s always been better to hold your coins yourself.

Psynthax

hero member

Activity: 2366

Merit: 504

Quote from: CyberKuro on November 27, 2020, 06:35:25 AM

Although PayPal has billions of dollars, yet it's not easy to acquire a crypto-company such as BitGo, they have discussed but there seems to be no agreement because this news has been quite a while but Pay Pal has not shown any cooperation other than with Paxos. You see, it's not that easy to buy a company if no one to sell it, even though they have a lot of funds. And I doubt Binance or blockchain.com will ever sell their company.

https://www.bloomberg.com/news/articles/2020-10-22/paypal-said-to-be-in-talks-to-buy-crypto-firms-including-bitgo

Yeah it's not easy when the owner or founder of that crypto company sees potential behind it in the upcoming years.
That's why sometimes when a large corporation trying to acquire some company they gonna make the founder and devs work for them.
Though, I wonder why paypal don't just start building their own crypto platform. I mean paypal is already big enough to easily create new brand.

CyberKuro

hero member

Activity: 798

Merit: 506

Quote from: Vishnu.Reang on November 26, 2020, 11:16:30 PM

Quote from: CyberKuro on November 26, 2020, 03:33:45 PM

~

PayPal is having billions of $$$ in reserve funds available and they can easily acquire medium-level exchanges and other cryptocurrency ventures. My biggest fear is that they may try to acquire Binance or Blockchain.com, which may have a very negative impact on the users of these platforms. What will happen, if PayPal acquires Blockchain.com, and then asks all the users to update their KYC?

Although PayPal has billions of dollars, yet it's not easy to acquire a crypto-company such as BitGo, they have discussed but there seems to be no agreement because this news has been quite a while but Pay Pal has not shown any cooperation other than with Paxos. You see, it's not that easy to buy a company if no one to sell it, even though they have a lot of funds. And I doubt Binance or blockchain.com will ever sell their company.

https://www.bloomberg.com/news/articles/2020-10-22/paypal-said-to-be-in-talks-to-buy-crypto-firms-including-bitgo

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: Smartprofit on November 27, 2020, 06:16:58 AM

Quote from: lovesmayfamilis on November 27, 2020, 05:43:10 AM

Quote from: CyberKuro on November 26, 2020, 03:33:45 PM

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

I doubt PayPal will ever allow you to withdraw your Bitcoins. If they are already starting to block accounts, inventing suspicious activity, then do not expect improvements in this system about customers.
PayPal is destroying the Bitcoin idea, trying to take control of everything. Those people who do not fully assess all the risks of storing their bitcoins in this system can rejoice. He will never be yours, he can always be taken away, blocked, and at the same time without thinking too much about any moral principles.

Yes, if the price of bitcoin reaches $ 100,000, then many will forget about morality.

In December 2017, the price of bitcoins rose to $ 20,000. I left my satoshi on the Bitfinex cryptocurrency exchange. I lent my satoshi (BTC) to traders at interest (lending). Suddenly my balance went to zero. I could not withdraw my cryptocurrency from the exchange. Then satoshi appeared on my deposit again. However, no one returned the interest to me.

You don't need to trust centralized platforms.

of course your balanced will be zero because you lend the coin and you cant withdrew because you have a zero balance .
the balance will apear again on your account after the borowers paid but not paying interest as what ls promised is not right .
those users should be penalize so that they cant loan again .
the problem of paypal is different from your problem because paypal block accounts and other people dont recover thier funds anymore . thats more worst but i wonder why paypal is still number one

Smartprofit

legendary

Activity: 2338

Merit: 1775

Catalog Websites

Quote from: lovesmayfamilis on November 27, 2020, 05:43:10 AM

Quote from: CyberKuro on November 26, 2020, 03:33:45 PM

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

I doubt PayPal will ever allow you to withdraw your Bitcoins. If they are already starting to block accounts, inventing suspicious activity, then do not expect improvements in this system about customers.
PayPal is destroying the Bitcoin idea, trying to take control of everything. Those people who do not fully assess all the risks of storing their bitcoins in this system can rejoice. He will never be yours, he can always be taken away, blocked, and at the same time without thinking too much about any moral principles.

Yes, if the price of bitcoin reaches $ 100,000, then many will forget about morality.

In December 2017, the price of bitcoins rose to $ 20,000. I left my satoshi on the Bitfinex cryptocurrency exchange. I lent my satoshi (BTC) to traders at interest (lending). Suddenly my balance went to zero. I could not withdraw my cryptocurrency from the exchange. Then satoshi appeared on my deposit again. However, no one returned the interest to me.

You don't need to trust centralized platforms.

lovesmayfamilis

legendary

Activity: 2072

Merit: 4265

✿♥‿♥✿

Quote from: CyberKuro on November 26, 2020, 03:33:45 PM

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

I doubt PayPal will ever allow you to withdraw your Bitcoins. If they are already starting to block accounts, inventing suspicious activity, then do not expect improvements in this system about customers.
PayPal is destroying the Bitcoin idea, trying to take control of everything. Those people who do not fully assess all the risks of storing their bitcoins in this system can rejoice. He will never be yours, he can always be taken away, blocked, and at the same time without thinking too much about any moral principles.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

The people who are excited about companies like PayPal's increasing supply of Bitcoin under centralized custody should know the fact that it also increases their ability to censor you.

larus

jr. member

Activity: 236

Merit: 1

We have more and more reasons to buy even more crypto than we have

Vishnu.Reang

sr. member

Activity: 1974

Merit: 453

Quote from: CyberKuro on November 26, 2020, 03:33:45 PM

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

PayPal is having billions of $$$ in reserve funds available and they can easily acquire medium-level exchanges and other cryptocurrency ventures. My biggest fear is that they may try to acquire Binance or Blockchain.com, which may have a very negative impact on the users of these platforms. What will happen, if PayPal acquires Blockchain.com, and then asks all the users to update their KYC?

Twentyonepaylots

sr. member

Activity: 1918

Merit: 370

Quote from: shield132 on November 26, 2020, 02:35:56 PM

Personally, I think that this is one of the most amazing news that I have heard lately. Paypal bought bitcoin when price was very high, between 15-19K USD. I guess there are very smart people behind the Paypal and their results prove everything.

It is amazing til you get banned for trading cryptocurrencies lol there is a man recently that was suspended for winning trades in paypal such as buying low and selling high, now paypal is asking for this user to explain how these things went and did not actually believe that it is easy to pull that up with crypto trading lmao.

Quote from: shield132 on November 26, 2020, 02:35:56 PM

If they bought bitcoin in so high prices, this means they have a huge expectation that price will rise or at least not dramatically fall. Also, this action is another alarm that shows society that PayPal is seriously interested and there is an increased demand on supply from such company. Logically, this should cause a price rise. And you know what? PayPal plans to develop and implement more crypto services, so, the very exciting year comes up for crypto world.

Besides they are taking this too far, buying at this ridiculously high prices might turn the table down for them, it is not always inclining, people might dump every bitcoin they have but I believe the trust they are putting into bitcoin will grow and be seen as opportunity by other companies.

CyberKuro

hero member

Activity: 798

Merit: 506

Quote from: Febo on November 22, 2020, 06:22:48 PM

Quote from: AmoreJaz on November 22, 2020, 05:29:52 PM

so yeah, seems that paypal is storing their btc stash to be available anytime to its users. wont be surprised if they will create their own crypto exchange in the future.

Bitcoin will never be available to paypal users. hey can never withdraw them. Only one that will be able to use papayl users Bitcoin will be paypal itself. They will be able to manipulate Bitcoin market with those coins from their users. Paypal users will be only able to watch.

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

lixer

hero member

Activity: 2562

Merit: 586

Quote from: pilosopotasyo on November 25, 2020, 09:03:36 AM

Quote from: dothebeats on November 25, 2020, 06:41:42 AM

but it's alarming that tens of millions are being controlled by a few entities.

That's likely to happen they have the means they can control the price the volume it has become the battle of the whales and we small investors are now a pawn on this kind of battle, we'll see more companies as big as PayPal to buy Cryptocurrency and integrate Cryptocurrency, we have read that some billionaires are already allocating their portfolio to Cryptocurrency.

With investment always comes the dilemma of whales controlling the market but I honestly do not think they will be able to manipulate the market because there are enough small whales and mixed investors who can carry the market in case one whale dumps and tries to bring the price down. The demand is going to become more and more as Bitcoins are in limited amount and daily some coins are lost in multiple ways.

Quote from: chretienm on November 25, 2020, 10:08:54 AM

Bitcoin will become is a very expensive asset in the hands of the few, no mass adoption will ever happen. Maybe that's their plan who knows. There are many very rare earth elements which are much more expensive that gold or platinum so what? Not many know and use them.

Haha that would be funny but I can assure you that there are enough whales in the market to keep the price solid and the recent bull run was always expected as it happens in late every year so this bull run is not the result of a particular whale going big.

shield132

hero member

Activity: 2310

Merit: 886

Personally, I think that this is one of the most amazing news that I have heard lately. Paypal bought bitcoin when price was very high, between 15-19K USD. I guess there are very smart people behind the Paypal and their results prove everything. If they bought bitcoin in so high prices, this means they have a huge expectation that price will rise or at least not dramatically fall. Also, this action is another alarm that shows society that PayPal is seriously interested and there is an increased demand on supply from such company. Logically, this should cause a price rise. And you know what? PayPal plans to develop and implement more crypto services, so, the very exciting year comes up for crypto world.

so98nn

hero member

Activity: 2086

Merit: 603

Quote from: Febo on November 22, 2020, 06:22:48 PM

Quote from: AmoreJaz on November 22, 2020, 05:29:52 PM

so yeah, seems that paypal is storing their btc stash to be available anytime to its users. wont be surprised if they will create their own crypto exchange in the future.

Bitcoin will never be available to paypal users. hey can never withdraw them. Only one that will be able to use papayl users Bitcoin will be paypal itself. They will be able to manipulate Bitcoin market with those coins from their users. Paypal users will be only able to watch.

Certainly this is truthful. What logic I am applying is, PayPal has just offered platform to transact in the form of bitcoin like what other wallets or exchangers do. The only thing is you get a trusted platform who will use your bitcoin to trade into market. You never know what the team is doing behind this, how they are manipulating the current prices.

If the news about acquisition of virgin bitcoin is true then boom, this market is coming under control of paypal staff. Yeah, thats undeniable probably i would say.

In our language we could say paypal is one step closer to become giant whale in the crypto space.

FanEagle

legendary

Activity: 2884

Merit: 1117

Leading Crypto Sports Betting & Casino Platform

Paypal didn't do anything, it was the people who are in paypal and uses paypal's crypto section that bought it. People need to realize that paypal does nothing, it is just a middleman, if there are tons of crypto purchased from paypal that means it was regular humans that bought it and not paypal itself, paypal just helped those people.

So, if people decide to never use paypal for crypto ever again, paypal would have zero significance on crypto all of a sudden as well. Obviously it will never be zero, and this could grow in the future as well, but we have to remember that it is still the market that decides this. We have to learn the difference between places like grayscale that directly buys bitcoin from the market, versus paypal that is just helping others buy from the market.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: jrrsparkles on November 25, 2020, 01:06:58 PM

Paypal isn't actually buying and selling bitcoin right? Because they just integrated with a crypto exchange that is how they offer their customers to buy and sell bitcoin and other few cryptos and also they are not responsible for any hacks/scams from that crypto exchange side then how paypal is buying the bitcoins?

Paypal is just mandating Paxos to provide them with the bitcoins their clients are buying on their platform, so for every guy that buys 1000$ worth of BTC in Paypal, Paxos buys from the market 1000$ worth of it and stores it.

Quote from: Vishnu.Reang on November 25, 2020, 12:52:01 PM

The difference here is that unlike FB, PayPal is trying to adopt an already established innovation (BTC)

You're giving them a way to much credit, they have seen that people are still having trouble getting bitcoins from various sources and they stepped in offering their service in exchange for fees, not only are they gaining a lot but they also might get rid of the scams that were happening with people trying to sell and buy bitcoins via their service.

Kakmakr

legendary

Activity: 3514

Merit: 1963

Leading Crypto Sports Betting & Casino Platform

There are a couple of things that are getting me excited now..

Remember, PayPal bought those bitcoins to "feed" the demand for coins for the US Market (only selected clients) .... they are still planning to extent this option to all their other clients and next year to their "selected" global clients.

Also, most of the coins bought... cannot be used on their supported merchant network and the CEO said... that is coming in the near future... so imagine what is going to happen ...after that announcement is made. Wink

Yes, we are still in for a very wild ride and I expect other large corporate giants are going to follow PayPal's example soon. Wink

Topic: Paypal bought up to 70% of all the newly mined bitcoin recently - page 2. (Read 896 times)