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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25608. (Read 26609605 times)

hero member
Activity: 910
Merit: 1003
Paypal is bigger than that, if they offer bitcoin as a payment method to their customers, unless they're only one way (which I doubt) they'd need to keep them on hand for their customers to both pay with and receive.

It wouldn't be like dell dumping it all on bitpay, paypal would need a certain amount of btc in their reserve

I understood that PayPal is merely accepting dollars from BitPay/Coinbase/Coinsetter and delivering them to merchants who subscribe to PayPal.  And for "digital goods" only. And only in North America. Isn't that so?

In other words, it is just like Dell: people who buy BTC now (on the exchanges or over the counter, in bulk or retail) are paying the shopping bills of owners of old cheap coins who choose to "pay with bitcoin".  Only that there is one more intermediary (PayPal) taking their fee.
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

I think that PayPal BTC acceptance will have more influence then merchant selling pressure.


maybe 2 years ago.

now I simply dont care because they are so late to the party.  

That's because you, Tarmi, seem to have a fairly robust predilection to take any news, good, bad or other, and to translate it into "BTC bear logic"  Cheesy Cheesy Cheesy



really?  Roll Eyes

sorry for asking, but why would I ever want to spend my BTC and pay all the fees to paypal? isn't the whole point of BTC to avoid charges? add to that the fees for USD/BTC conversion.

all I see in paypal accepting btc is selling/redistribution of old cheap coins.

It will happen you are right, there will be selling pressure, but also what will happen is more people coming into out small community of BTC users at much faster pace, which will have more influence than selling pressure. More people without BTC who will buy BTC just because PayPay said they should not fear of BTC. PayPal is something like internet religion, I think that there is a huge army of people who only watch PayPal moves and plan their strategy according to that. When PayPal adds new option there is a huge number of people who just want to try the new option, now when BTC is a new PayPal option, get ready for the revolution.

Just as AmazonStuff asserted, there are considerable advantages to have more BTC liquidation opportunities.     Not only does it provide the immediate liquidation route, it also provides for BTC publicity and BTC credibility.

Individuals can choose the extent to which it is practical for them to spend their BTC through a service or to refrain from such or to exercise a different method of payment or even to refrain from purchasing.  The fact that potentially paypal is skimming additional profits should NOT detract from the usefulness of having such liquidation avenue available to BTC holders.  In the beginning of the adoption of any new technology, we should expect a premium price paid for such... however,  over time, likely competition evolves and enters the space.. accordingly, the more profits being made, the more competition that will enter the space... These are basic free market concepts.. and sometimes it takes time for them to evolve, and we should NOT jump to too many conclusions merely based on the direction of early development, and accordingly, we need NOT view the situation with "bear logic" unless we are trying to skew reality, spread FUD and/or failing to see the whole picture.
legendary
Activity: 1666
Merit: 1010
he who has the gold makes the rules
cut your looses before its too latex !!

you should have sold at 450, too late now buddy
legendary
Activity: 1078
Merit: 1441
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

I think that PayPal BTC acceptance will have more influence then merchant selling pressure.


maybe 2 years ago.

now I simply dont care because they are so late to the party.

2 years ago? really?

The party has not even started yet..... 
sr. member
Activity: 980
Merit: 256
Decentralized Ascending Auctions on Blockchain
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

Paypal is bigger than that, if they offer bitcoin as a payment method to their customers, unless they're only one way (which I doubt) they'd need to keep them on hand for their customers to both pay with and receive.

It wouldn't be like dell dumping it all on bitpay, paypal would need a certain amount of btc in their reserve
legendary
Activity: 1974
Merit: 1077
Honey badger just does not care
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 270
Merit: 250
cut your looses before its too latex !!
hero member
Activity: 628
Merit: 500
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

I think that PayPal BTC acceptance will have more influence then merchant selling pressure.


maybe 2 years ago.

now I simply dont care because they are so late to the party.  

That's because you, Tarmi, seem to have a fairly robust predilection to take any news, good, bad or other, and to translate it into "BTC bear logic"  Cheesy Cheesy Cheesy



really?  Roll Eyes

sorry for asking, but why would I ever want to spend my BTC and pay all the fees to paypal? isn't the whole point of BTC to avoid charges? add to that the fees for USD/BTC conversion.

all I see in paypal accepting btc is selling/redistribution of old cheap coins.

It will happen you are right, there will be selling pressure, but also what will happen is more people coming into out small community of BTC users at much faster pace, which will have more influence than selling pressure. More people without BTC who will buy BTC just because PayPay said they should not fear of BTC. PayPal is something like internet religion, I think that there is a huge army of people who only watch PayPal moves and plan their strategy according to that. When PayPal adds new option there is a huge number of people who just want to try the new option, now when BTC is a new PayPal option, get ready for the revolution.


paypal is internet religion?

doubt it.

It's not for me, but before BTC I got kicked from one forum because I did not offer photographic equipment for PayPal, believe it or not Cheesy
legendary
Activity: 1232
Merit: 1011
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

I think that PayPal BTC acceptance will have more influence then merchant selling pressure.


maybe 2 years ago.

now I simply dont care because they are so late to the party.  

That's because you, Tarmi, seem to have a fairly robust predilection to take any news, good, bad or other, and to translate it into "BTC bear logic"  Cheesy Cheesy Cheesy



really?  Roll Eyes

sorry for asking, but why would I ever want to spend my BTC and pay all the fees to paypal? isn't the whole point of BTC to avoid charges? add to that the fees for USD/BTC conversion.

all I see in paypal accepting btc is selling/redistribution of old cheap coins.

It will happen you are right, there will be selling pressure, but also what will happen is more people coming into out small community of BTC users at much faster pace, which will have more influence than selling pressure. More people without BTC who will buy BTC just because PayPay said they should not fear of BTC. PayPal is something like internet religion, I think that there is a huge army of people who only watch PayPal moves and plan their strategy according to that. When PayPal adds new option there is a huge number of people who just want to try the new option, now when BTC is a new PayPal option, get ready for the revolution.


paypal is internet religion?

doubt it.
hero member
Activity: 628
Merit: 500
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

I think that PayPal BTC acceptance will have more influence then merchant selling pressure.


maybe 2 years ago.

now I simply dont care because they are so late to the party.  

That's because you, Tarmi, seem to have a fairly robust predilection to take any news, good, bad or other, and to translate it into "BTC bear logic"  Cheesy Cheesy Cheesy



really?  Roll Eyes

sorry for asking, but why would I ever want to spend my BTC and pay all the fees to paypal? isn't the whole point of BTC to avoid charges? add to that the fees for USD/BTC conversion.

all I see in paypal accepting btc is selling/redistribution of old cheap coins.

It will happen you are right, there will be selling pressure, but also what will happen is more people coming into out small community of BTC users at much faster pace, which will have more influence than selling pressure. More people without BTC who will buy BTC just because PayPay said they should not fear of BTC. PayPal is something like internet religion, I think that there is a huge army of people who only watch PayPal moves and plan their strategy according to that. When PayPal adds new option there is a huge number of people who just want to try the new option, now when BTC is a new PayPal option, get ready for the revolution.
legendary
Activity: 1232
Merit: 1011
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

I think that PayPal BTC acceptance will have more influence then merchant selling pressure.


maybe 2 years ago.

now I simply dont care because they are so late to the party.  

That's because you, Tarmi, seem to have a fairly robust predilection to take any news, good, bad or other, and to translate it into "BTC bear logic"  Cheesy Cheesy Cheesy



really?  Roll Eyes

sorry for asking, but why would I ever want to spend my BTC and pay all the fees to paypal? isn't the whole point of BTC to avoid charges? add to paypal fees the ones for USD/BTC conversion.

all I see in paypal accepting btc is selling/redistribution of old cheap coins.
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

I think that PayPal BTC acceptance will have more influence then merchant selling pressure.


maybe 2 years ago.

now I simply dont care because they are so late to the party. 

That's because you, Tarmi, seem to have a fairly robust predilection to take any news, good, bad or other, and to translate it into "BTC bear logic"  Cheesy Cheesy Cheesy




legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
...
Check edit and buy food from vendors that accept btc directly, those that use payment processors are supporting a competing economy Wink


I have some mixed feelings about these points.  I understand the point that you are making and I agree that if you know that the business is holding BTC, then they would be the preferred business to patronize.  


However, I tend to believe that anyone taking BTC is a good thing, and surely, we should also be sympathetic to the businesses using payment processors (and really we do NOT have any meaningful way to verify the extent to which the payment processor businesses are directly converting or holding some percentage).  We should, if we can, be inclined to replace any BTC that we spend, anyhow.

Another ongoing issue remains the tax treatments to use BTC as a form of currency... which is bullshit to have this accounting disincentive hanging over our heads.... Currently, I am trying to get around this (put this off) by simultaneously (within a week or so) replacing any BTC that I spend, and that way I can claim that there was NO capital gains or loss (makes for easier accounting for me, so far).   Now, down the road, if I begin to make some substantial purchases that also include capital gains, then I will NEED to account for such gains in my projected IRS filings for the year.

Maybe consider residence in Germany if you're likely to be badly stung with that one, they stated funds from addresses that haven't moved for more than a year are tax-free. No idea how long that will last, they had the same opening on precious metals but changed it fairly recently.

+1 on the more accepting btc the better and accepting via a payment processor is far better than not accepting, the spending drive gets to me is all, "spend, spend, spend" sounds a lot like the "waste, waste, waste" of perpetual "growth".


I have some business issues in the US of A that I am trying to get in order - otherwise I am considering various ways to become location independent.  Currently, I am attracted to south east asia, more than europe - and part of my thinking is that I can live a lot better on a lot less (accordingly, live well within my means, and continue to accumulate wealth with a mostly passive income).  Potentially, later in life, I will be able to travel and live in more expensive areas...... Well, anyhow, this is more of a work of progress than anything set in stone...

Further, I am anticipating that there are going to be a lot of ongoing wishy-washy developments and adjustments when it comes to various tax treatments of BTC... from what I understand, Americans traveling abroad would NOT be required to count the gains of their spent BTC, so long as those BTC are spent overseas.

Regarding number of merchants, the more the better, and regarding spending, there are a lot of mixed blessings about that, and the USA, as most of us already realize, has one of the worst spending records - and some of the american consumerism habits are spreading to other areas around the world... NO simple solutions there when it comes to inequality and wasteful spending while some people are barely able to scratch by meager livings others are living wastefully high on the hog.  Seems to be a topic beyond the scope of this thread (though this thread seems to be fairly tolerant of a variety of topics so long as they are anywhere remotely connected to BTC walls - and even then... ooofffffta...).   Cheesy
legendary
Activity: 1232
Merit: 1011
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

I think that PayPal BTC acceptance will have more influence then merchant selling pressure.


maybe 2 years ago.

now I simply dont care because they are so late to the party.
legendary
Activity: 2170
Merit: 1094
gnu bash vulnerability fear mongering going on /r/bitcoin, be safe do your research.

what does it mean?

It means that exchanges can be hacked (if they weren't already) using this exploit, until they patch the affected systems.
http://arstechnica.com/security/2014/09/bug-in-bash-shell-creates-big-security-hole-on-anything-with-nix-in-it/
hero member
Activity: 628
Merit: 500
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.

Well, I don't think that way, I am aware of that, but PayPal was probably the biggest obstacle to BTC acceptance and I don't see PayPal as a merchant, I see them as one of the biggest internet financial companies. You know what happened before to PayPal users who used BTC? Their accounts were blocked. I think that PayPal BTC acceptance will have more influence then merchant selling pressure. I mean more acceptance means more users, more users means more money. Only way I see this latest PayPal news is like PayPal saying we must work with BTC or we are doomed. If they are aware of that, can you imagine where BTC is going?
legendary
Activity: 1232
Merit: 1011
PayPal acceptance is a game changer

that will add even more selling pressure.

remember, every time new merchant jumps in - just sell.
sr. member
Activity: 434
Merit: 250
I was bear enough, but bear market is at it's end, we have a double bottom, 10 months of bear market, bunch of good news and technical indicators screaming divergence and I changed into bull, big one Cheesy PayPal acceptance is a game changer, other companies will say if PayPal accepted BTC we should too, they will not fear BTC as they were frightened before, you will see BTC more in media, you will probably see BTC everywhere, just as you see Coca-Cola logo everywhere.

Good! You are not a sheep.
hero member
Activity: 624
Merit: 502
Anyone mind updating me on what happened?
When I went to bed there was a really healthy bid wall at $420 was it pulled?
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