Topic: Paypal launches an Ethereum-based Stablecoin! - page 2. (Read 396 times)
PayPal is well aware of the upcoming role of cryptocurrency in the future. This understanding has prompted them to shift their perspective. Given PayPal's strong reputation and credibility in the market, its stablecoin is likely to gain a prominent position due to the trust associated with the PayPal brand. While people might not place the same level of trust in other stablecoins, PayPal's established reputation sets it apart. It's reassuring to see that PayPal has introduced its own stablecoin based on the Ethereum platform.
This does not benefit us or the crypto industry in any way, what Paypal is doing is just for the profit they are aiming for. As far as I know, companies that have issued stablecoins are making significant profits and that's what Paypal is looking for, nothing more and nothing less. But what makes me funny is, no one told them that using the ETH network will have very high transaction fees and I think many people will not use their stable coin with the expensive transaction fees that the ETH network causes.
PayPal just took the laziest approach they could have taken when developing their own stable coin, I mean they could have created their own blockchain and let their coin run above it, but they refused to do so and we need to question ourselves why that was the case? And I think this is because they know that if they did this then even less people will use their coin and if there was hack they will be held responsible for it, so they just decided to take the easy way out and release their coin over the ETH network.they will grab our money pocket soon as possible. this bad news maybe cause people maybe think crypto bad casue paypal releases. I hate to say.....say no to paypal. i better using cold wallet than put there and make them trick us.
This does not benefit us or the crypto industry in any way, what Paypal is doing is just for the profit they are aiming for. As far as I know, companies that have issued stablecoins are making significant profits and that's what Paypal is looking for, nothing more and nothing less. But what makes me funny is, no one told them that using the ETH network will have very high transaction fees and I think many people will not use their stable coin with the expensive transaction fees that the ETH network causes.
i don't really think issuing stablecoin means massive profits at best its just really small profits that they get but the fact that they got the capital, so it might increase the profit significantly.the fact that they deployed their token in ethereum doesn't necessarily means it will stay in ethereum forever either, they are just trying to get into the most popular blockchain. then after that they could easily just deploy the token in the other blockchain.
its the same with the other stablecoin out there, they always starts out from ethereum then the other blockchain. they are trying to build the system first.
This does not benefit us or the crypto industry in any way, what Paypal is doing is just for the profit they are aiming for. As far as I know, companies that have issued stablecoins are making significant profits and that's what Paypal is looking for, nothing more and nothing less. But what makes me funny is, no one told them that using the ETH network will have very high transaction fees and I think many people will not use their stable coin with the expensive transaction fees that the ETH network causes.
PayPal just took the laziest approach they could have taken when developing their own stable coin, I mean they could have created their own blockchain and let their coin run above it, but they refused to do so and we need to question ourselves why that was the case? And I think this is because they know that if they did this then even less people will use their coin and if there was hack they will be held responsible for it, so they just decided to take the easy way out and release their coin over the ETH network.
I trust USDT, I consider everything else unnecessary
This does not benefit us or the crypto industry in any way, what Paypal is doing is just for the profit they are aiming for. As far as I know, companies that have issued stablecoins are making significant profits and that's what Paypal is looking for, nothing more and nothing less. But what makes me funny is, no one told them that using the ETH network will have very high transaction fees and I think many people will not use their stable coin with the expensive transaction fees that the ETH network causes.
Yes, still good news, at least Paypal doesn't want to be left out in this competition and maybe this is their first step, to have a Ethereum based stablecoin. And I think one of those who are going to benefit from it is obviously those Paypal users.
I haven't check their stocks though, if it did bring some good news and pump the price. But in any case we have to wait what will happen here. Perhaps this is just a experiment on their end and see how adoption is in the next couple of months to say that this is a success or not.
I think it's more hype than good news. I don't know if many people will use their service if there are many other stable coins. I think it is much more convenient for people to use other services for this purpose. I remember when the news that Pay Pal added bitcoin had a good impact on the market. But then this news somehow went quiet. Maybe it will be the same now. I haven't check their stocks though, if it did bring some good news and pump the price. But in any case we have to wait what will happen here. Perhaps this is just a experiment on their end and see how adoption is in the next couple of months to say that this is a success or not.
Yes, still good news, at least Paypal doesn't want to be left out in this competition and maybe this is their first step, to have a Ethereum based stablecoin. And I think one of those who are going to benefit from it is obviously those Paypal users.
I haven't check their stocks though, if it did bring some good news and pump the price. But in any case we have to wait what will happen here. Perhaps this is just a experiment on their end and see how adoption is in the next couple of months to say that this is a success or not.
I haven't check their stocks though, if it did bring some good news and pump the price. But in any case we have to wait what will happen here. Perhaps this is just a experiment on their end and see how adoption is in the next couple of months to say that this is a success or not.
If we think that centralized coins would help inside the PayPal, I didn't understood the concept fully by the post, and the stablecoin, which launches PayPal is also in the etherium chain? That could be helpful in future if if really works.
This is rather good news, although it has nothing to do with cryptocurrency, except that it is the adoption of the Ethereum network to launch the currency, and Ethereum uses blockchain technology. While the currency has the characteristics of cbdc or what can be called a "digital dollar".
Literally this sentence could not be true: "Paypal is launching its own currency." Because it is a stable coin that is mainly pegged to the dollar. The currency is called PyUsd, and PayPal has commissioned Paxos to launch this currency, and this is certainly to ensure the greatest degree of transparency and compatibility with US laws. This is not yet clear if all Paypal users will enjoy the service, or if it will be limited to citizens in the United States. Also, there are no clear details yet as to whether this currency can be used outside the Paypal system, that is, if it is in circulation.
Some detailed news announcement as reported by CNBC.
Literally this sentence could not be true: "Paypal is launching its own currency." Because it is a stable coin that is mainly pegged to the dollar. The currency is called PyUsd, and PayPal has commissioned Paxos to launch this currency, and this is certainly to ensure the greatest degree of transparency and compatibility with US laws. This is not yet clear if all Paypal users will enjoy the service, or if it will be limited to citizens in the United States. Also, there are no clear details yet as to whether this currency can be used outside the Paypal system, that is, if it is in circulation.
Some detailed news announcement as reported by CNBC.
So does this coin of theirs also allow refunds? I used to use paypal but it was so bad as a payment method for me specifically since refunds with no rhyme or reason could suddenly be approved (since most of my commissions are art/video based). It was the single most frustrating issue I've had before with paypal and that's why I used it, not sure if they fixed it though. And if they ever implement such a system since as OP said, it's centralized a f, I don't think there's any sense in even using it then.
if this is legit then I guess i'd say its good, adding to the competition of stablecoin as well as giving option.
considering the fact that paypal itself is a really big financial technology company basically have been standing for so long, i'd say maybe their stablecoin just gonna be as great as the others.
though honestly, the current existing stablecoin right now are already sufficient enough for the market, it just needs more transparency in regards to the reserved funds and its perfect.
though i always welcome it if there's some other stablecoin gonna try out the competition.
considering the fact that paypal itself is a really big financial technology company basically have been standing for so long, i'd say maybe their stablecoin just gonna be as great as the others.
though honestly, the current existing stablecoin right now are already sufficient enough for the market, it just needs more transparency in regards to the reserved funds and its perfect.
though i always welcome it if there's some other stablecoin gonna try out the competition.
I don't use Paypal anymore and I don't trust anything coming from Paypal so it's not a piece of welcoming news to me but it may add excitement to those who want to see additional good news in the market, just like what happened when Paypal added Cryptocurrency to their features.
There is news that the stablecoin can be locked and frozen it's possible because they are centralized and they always want to have control of their products and services.
This new stablecoin will benefit their long-time clients mostly sellers and buyers in centralized markets.
There is news that the stablecoin can be locked and frozen it's possible because they are centralized and they always want to have control of their products and services.
This new stablecoin will benefit their long-time clients mostly sellers and buyers in centralized markets.
I'm not sure how their long-term clients will benefit from an already existing market that PayPal was late to join the club for. Why use PayPal or its centralized stablecoins when you can just use crypto and skip all the paperwork and bottlenecks that comes with it? Also, the token smart contract for the Paypal USD is written with an older version of solidity and doesn't seem to be written efficiency to reduce the gas overhead cost for users to use their stablecoin protocol.
Paypal launches an Ethereum-based Stablecoin! Here's the low-down:
Pros:
1) Adoption potential for crypto among "normies"
2) Interact with Ethereum DeFi
3) Can be used at Paypal checkout window of websites
I am not sure how permissionless this will actually be, so that they can keep it regulatory compliant in eu. I think they must have same issues that why they haven't released BTC payments in eu yet (at least not in all eu countries).Pros:
1) Adoption potential for crypto among "normies"
2) Interact with Ethereum DeFi
3) Can be used at Paypal checkout window of websites
Cons:
1) Very centralized
2) Similar to a CBDC
Not similar to CBDC. This is a pegged to fiat money, while CBDC doesn't need to be pegged to anything but to itself, as it IS fiat money. You won't need to convert to money, it will be money, usable in everywhere. 1) Very centralized
2) Similar to a CBDC
I don't use Paypal anymore and I don't trust anything coming from Paypal so it's not a piece of welcoming news to me but it may add excitement to those who want to see additional good news in the market, just like what happened when Paypal added Cryptocurrency to their features.
There is news that the stablecoin can be locked and frozen it's possible because they are centralized and they always want to have control of their products and services.
This new stablecoin will benefit their long-time clients mostly sellers and buyers in centralized markets.
There is news that the stablecoin can be locked and frozen it's possible because they are centralized and they always want to have control of their products and services.
This new stablecoin will benefit their long-time clients mostly sellers and buyers in centralized markets.
This is definitely going to be fine for the buyer, but still not great enough for the seller. I do not think that you are still allowed to exchange it for any other stablecoin at paypal, and that's why it's tough. Paypal is way too centralized and their biggest enemy is crypto, we could send each other money from anywhere around the world and that's why we need to make sure that we can do something that will benefit everyone.
Paypal will not do that, they will do whatever works for them the best. It's better to avoid it at all costs if you could, it will not end well and you should avoid it if you could. That's how things are approached and you should be approaching it the same way without a doubt for sure.
Paypal will not do that, they will do whatever works for them the best. It's better to avoid it at all costs if you could, it will not end well and you should avoid it if you could. That's how things are approached and you should be approaching it the same way without a doubt for sure.
PayPal wasn't ready for blockchain transparency.
Centralized company stablecoin has centralized features on the most centralized smart chain, a perfect match.
The same institutions that are condemning and trying to stop the development of the crypto industry for years, unsuccessfully.
Good luck to anyone using this
This is definitely going to be fine for the buyer, but still not great enough for the seller. I do not think that you are still allowed to exchange it for any other stablecoin at paypal, and that's why it's tough. Paypal is way too centralized and their biggest enemy is crypto, we could send each other money from anywhere around the world and that's why we need to make sure that we can do something that will benefit everyone.
Paypal will not do that, they will do whatever works for them the best. It's better to avoid it at all costs if you could, it will not end well and you should avoid it if you could. That's how things are approached and you should be approaching it the same way without a doubt for sure.
Paypal will not do that, they will do whatever works for them the best. It's better to avoid it at all costs if you could, it will not end well and you should avoid it if you could. That's how things are approached and you should be approaching it the same way without a doubt for sure.
they still using centralize even after release. i not make sure if this safe. cause old people better using cold wallet that wallet like this. the hot wallet is possible got attack, got robbed by owner, or controlled.
I can imagine so many cons about paypal knowing their platform is very very centralized but I can't deny how can the pros will help the whole crypto along with the potential of new crypto users because of the paypal influence. It's ethereum base so should we expect a high gas fee on every transaction. It will be bad if potential customer suffer from high gas fee as I can see this as a niche platform for transaction payments.
It is good news for Ethereum as it means more free growth and adoption as some will use this currency as an alternative to USDT which is bad news for USDT because now there is a strong competitor and has a good list of assets and thus bad news for TRON.
If it can be used to make payments anywhere that accepts PayPal, then here it will be the real game changer, although I do not expect that.
Cons:
1) Very centralized
2) Similar to a CBDC
Excessive centralization is a feature of this type of cryptocurrency, so it will not affect it, on the contrary, you will get better confidence than USDT.
If it can be used to make payments anywhere that accepts PayPal, then here it will be the real game changer, although I do not expect that.
Cons:
1) Very centralized
2) Similar to a CBDC
Excessive centralization is a feature of this type of cryptocurrency, so it will not affect it, on the contrary, you will get better confidence than USDT.
Jump to: