Well Bitcoin is competition to money transferring services like Western Union and Paypal just as much as it's competition to banks so of course you are going to hear some criticisms. He was not entirely wrong however, the crypto do have high fluctuation.
Most merchants seem to be unfazed though. Even in my country the range of payment options using online wallets are expanding. These obviously converts to fiat at one point but that they can keep the business going means there's money to be made.
Topic: PayPal fears Bitcoin :) PayPal CEO Dan Schulman Disses BTC & Praises Blockchain - page 2. (Read 502 times)
February 28, 2019, 12:04:23 PM
February 28, 2019, 08:39:45 AM
Fuck PayPal, who uses it nowadays?
Bitcoin surpassed PayPal in terms of total yearly transaction volume at $1.3 trillion.
More info here - https://www.newsbtc.com/2019/02/26/bitcoin-surpasses-paypal-in-yearly-transaction-volume-at-1-3-trillion/
That's the main reason that scared PayPal and all its employees as well as CEO himself that he couldn't resist himself from showing up and responding under the effect of jealousy. I don't really count anyone to anything if they belong to PayPal, I personally hate them for all their shady holds, especially their 21 day hold and account freezing.
Bitcoin surpassed PayPal in terms of total yearly transaction volume at $1.3 trillion.
More info here - https://www.newsbtc.com/2019/02/26/bitcoin-surpasses-paypal-in-yearly-transaction-volume-at-1-3-trillion/
That's the main reason that scared PayPal and all its employees as well as CEO himself that he couldn't resist himself from showing up and responding under the effect of jealousy. I don't really count anyone to anything if they belong to PayPal, I personally hate them for all their shady holds, especially their 21 day hold and account freezing.
February 28, 2019, 08:38:22 AM
Of course he is going to diss bitcoin. Crypto currencies is going be a huge competition for him. Do you really think he will put on full support for it? At best he can do is integrate crypto currencies to his current system. But yeah, then again there are these legal issues and risks associated with it. Though i won't deny, from his point of view he is correct. The conversion fee and all those hassle is actually going to be an issue. But, that problem will be for the people who will be converting it to fiat.
February 28, 2019, 08:28:19 AM
Lol, this isn't surprising. Paypal stands to lose a business if crypto becomes the preferred payment method. This is just like Warren Buffet calling bitcoin rat poison when he holds la large percentage of banks and credit card companies. These guys will criticize anything that threatens their bottom line.
February 28, 2019, 07:42:50 AM
Well he was not wrong about the price fluctuation but most payment processor would find a way to lessen the effect of that. If it would bankrupt them, they wouldn't offer the service in the first place.
Note that I'm referring to services that accept the bitcoin and pays whatever utility one has to pay in fiat. These companies even offer discounts and rebates if you use their services. They wouldn't if they were struggling with the volatility.
Note that I'm referring to services that accept the bitcoin and pays whatever utility one has to pay in fiat. These companies even offer discounts and rebates if you use their services. They wouldn't if they were struggling with the volatility.
February 28, 2019, 07:36:54 AM
i am more interested to know when PayPal dudes are going to be desperate enough to start their own altcoin. it certainly has started like this before many times. the latest example was Jpmorgan crapcoin. they also attacked bitcoin a lot before they made their own altcoin. what would it be this time? peepee coin? 
February 28, 2019, 07:36:12 AM
Why do you need to switch to FIAT if it accepted as a currency then all will be traded with Bitcoin. I agree that Bitcoin is too volatile for a short time and it is not as stable as stable coin so it will not be able to replace FIAT.
February 28, 2019, 07:20:43 AM
It is a competition.
Let us thank him though for mentioning bitcoin in all of his interview. Yes, make it known by others in their own mouth.
Take down what is going to get large someday while it is early. It is a good strategy but will never work.
Let us wait for a new crypto currency being released someday.
PPC = PayPal Coin.
Let us thank him though for mentioning bitcoin in all of his interview. Yes, make it known by others in their own mouth.
Take down what is going to get large someday while it is early. It is a good strategy but will never work.
Let us wait for a new crypto currency being released someday.
PPC = PayPal Coin.
February 28, 2019, 07:14:00 AM
Of course, they're going to attack Bitcoin here, it's competitor for them. You just have to look at 2017 at how Paypal, Visa and Mastercard put a lot of spin on Bitcoin's disruptive effect in the financials of any country so I'm not surprised by this statement coming from Dan himself. They're been threaten ever since people uses Bitcoin as money or mode of payment and I'm sure it put a big dent on their quarterly earnings. So they need a continuous media tirade against the whole crypto so that they can stay on their private payment systems. Let them do the talking, people in time will eventually chooses cryptos.
February 28, 2019, 07:03:11 AM
He's...not wrong. Rapid fluctuations are a pain. It's often said that volatility must be addressed for Bitcoin to mature. Some might deny this, but if they're the same people who don't want to spend coins because they're waiting for the price to go up, then they probably have to take a good look at themselves lol.
Bitcoin is in some ways unsuitable as a currency now, but I believe it won't be long until these competitors start shaking in their boots. They can talk trash in the meantime.
Bitcoin is in some ways unsuitable as a currency now, but I believe it won't be long until these competitors start shaking in their boots. They can talk trash in the meantime.
February 28, 2019, 06:43:43 AM
He is not afraid of anything and just tells it like it is.At the moment, no serious business really wants to use Bitcoin as a payment due to its volatility.I would not be surprised if in time the Paypal payment system itself starts using cryptocurrency as an additional service. Time will tell.
February 28, 2019, 06:23:10 AM
Last year i needed to use paypal and like 3-4 years ago i did some purchase for 20 Euros with paypal . So the story is , i sold item for 300 euros and got payment in paypal . Did try to withdraw to my bank account , got no sucess . It did show failed . Did contact customer support on e-mail , got response next day with counter question lol . Then i decided to call customer services . Did speak with them for like 10 min to explain me why i can't withdraw , they told something about suspicious acitivity on my account and to wait for few hours . Next day nothing happens . So after 4-5 or even more days my withdraw went tru . After this situation i no longer try to use paypal , atleast trying to avoid it . Maybe the problem was because of my paypal innactivity for few years , not sure , but 4-5 days to withdraw my money and then 1-3 working days to wait for it to reach my bank account is sad....
February 28, 2019, 06:15:13 AM
Well of course he's going to publicly denounce Bitcoin, I mean Bitcoin has just surpassed Paypal in terms of yearly transaction volume.
Source: https://www.newsbtc.com/2019/02/26/bitcoin-surpasses-paypal-in-yearly-transaction-volume-at-1-3-trillion/
Then there's this, an ex Paypal COO has had some very positive things to say about Bitcoin recently.
Also participating in the Lightning Torch Bitcoin transaction relay.
If I were Paypal's CEO, I'd be worried too.
Source: https://cointelegraph.com/news/ex-paypal-coo-hails-bitcoin-acceleration-as-he-joins-lightning-torch-relay
Source: https://www.newsbtc.com/2019/02/26/bitcoin-surpasses-paypal-in-yearly-transaction-volume-at-1-3-trillion/
Then there's this, an ex Paypal COO has had some very positive things to say about Bitcoin recently.
Also participating in the Lightning Torch Bitcoin transaction relay.
If I were Paypal's CEO, I'd be worried too.
Source: https://cointelegraph.com/news/ex-paypal-coo-hails-bitcoin-acceleration-as-he-joins-lightning-torch-relay
February 28, 2019, 02:09:32 AM
Sounds JP Morgan to me that after his series of criticizing Bitcoin investment before because in fear of losing his banking businesses but what comes next was he become one of the known supporter of Bitcoin until today. There is no reason for him to fear Bitcoin as still we can use PAYPAL after converting our Bitcoin assets to fiat.
February 28, 2019, 02:01:43 AM
No wonder XAPO can make so much money. The founder himself is a big man.
February 28, 2019, 02:00:25 AM
It is normal that PayPal and Banks not to be big fans of crypto, as sooner or later they will be bypassed when crypto adoption rate will be sufficiently high.
Till then, expect a lot of FUD from their side 😊
Till then, expect a lot of FUD from their side 😊
February 28, 2019, 01:25:02 AM
He is kinda right about the price fluctuation,but this is something that can be solved.
The btc price patterns will become more and more stable and the bullish/bearish trends will last longer,just like the recent bearish trend.He is right about the fiat conversion,though.
The btc price patterns will become more and more stable and the bullish/bearish trends will last longer,just like the recent bearish trend.He is right about the fiat conversion,though.
February 28, 2019, 01:13:58 AM
Currently, the smallest unit of bitcoin is Satoshi based on bitcoin currency recorded on the blockchain. Satoshi is one hundred millionth of a single bitcoin (0.00000001 BTC). so applying the smallest unit to measure it rear can't feel the change of price for 1 Satoshi as if the fluctuation in BTC price.
The transfer fee also can be very low. one Chinese person tries successfully one experiment only paying 1 Satoshi to transfer bitcoin.
I believe that Bitcoin, as current fiat currency, will become a popular currency with high liquidity in the future.
The transfer fee also can be very low. one Chinese person tries successfully one experiment only paying 1 Satoshi to transfer bitcoin.
I believe that Bitcoin, as current fiat currency, will become a popular currency with high liquidity in the future.
February 28, 2019, 12:33:53 AM
Dan old man, you are obviously missing the whole point of Bitcoin and how it will evolve into a true currency in the future. Bitcoin started out with only a few people buying loads of coins and this led to a situation where you have a uneven distribution of coins.
As Bitcoin matures and gets distributed more evenly, the volatility issue will resolve it self. Once Bitcoin adoption grow enough, people will not have to convert to fiat currencies, because they can pay directly with bitcoins at merchants.
As Bitcoin matures and gets distributed more evenly, the volatility issue will resolve it self. Once Bitcoin adoption grow enough, people will not have to convert to fiat currencies, because they can pay directly with bitcoins at merchants.
February 28, 2019, 12:28:25 AM
I mean, what do you expect from a competitor? They have the financial incentive to trash on their competitors regardless if it's a direct competitor or not. It's the same as Peter Schiff trashing on bitcoin because he has a gold selling business.
About the price fluctuations, well, bitcoin is a 10 year old asset. Of course it's going to be volatile. It doesn't take a genius to understand that.
About the price fluctuations, well, bitcoin is a 10 year old asset. Of course it's going to be volatile. It doesn't take a genius to understand that.
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