Well, it's nice to be officially "wealthy" again at these BTC/USD prices. Freaking surreal.
Too bad the Paypal news is so lame. Not being able to move crypto between accounts, or into your own custody is going to red-pill quite a few folk about "not your keys, not your coins"
Gentlemen.
Yeah, that was one of my initial thoughts too. But that's eclipsed imo by the ability to send your bitcoin to paypal and then be able to spend it anywhere paypal is accepted, which is almost everywhere online. So just one extra step allows us to spend bitcoin almost everywhere. That's huge (no need to keep huge amounts of bitcoin there).
Hmm, it seems that if you cannot send/receive your own bitcoin to/from your paypal account, it's perhaps not as ground breaking as we'd hoped. Still a positive development though.
I would have been surprised if they would allow sending/receiving. Nor BTC withdrawal, and obviously this is a big win for KYC. And using it as "cash" for purchases will be it being spent at it's market rate etc.
it's messy. There will be big negatives. In some ways the status quo companies coming in is a bit of an invasion.
But this is SUCH a positive step in spite of all that. And now the race is going to be who is the one that offers the most features you want. Paypal, Square, Baakt, Fidelity, Robinhood, Etc?
This is DEFINATELY one of those "don't let the perfect get in the way of the good" moments.
I think Square/Cash App is going to set the tone for the industry, although PayPal is certainly a 900lb gorilla.
