We Are To Turn Bitcoin into a Global payment Network - Former PayPal President

fruktik

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Quote from: kro55 on September 11, 2023, 09:42:00 PM

I also have the same thoughts as you, it seems that people are too excited and misunderstand what the former President of Paypal wanted to say.
Basically, bitcoin has been a peer-to-peer payment system since its inception but looking at the reality so far, how many countries are using it for payment purposes? How many of us are using bitcoin as a payment method or just using it for speculation? We ourselves have never taken any action to promote bitcoin as a global payment network, we are just exploiting it for our own profit. We have no right to criticize anyone.

For what reason then are we communicating with you here if we can’t criticize anyone? Isn't this the essence of communication? It seems to me that I have every right to examine all aspects related to cryptocurrencies and the statements made by public figures and businessmen.
Yes, the world has not yet reached the point where Bitcoin will become the payment option that will be used throughout the world, but steps are being taken in this direction and are quite significant. Some countries have adopted it as an alternative instrument in conjunction with the standard national currency. And this is already worth something. Not everything is as pessimistic as it seems.

davis196

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Quote from: avikz on September 11, 2023, 11:12:50 AM

Here is the video link if anyone is not willing to use Telegram link posted by op.

https://youtube.com/shorts/J3Cco4WmnEo?si=DsoKkTC7wvBdAGw0

This is nonsense! Paypal's business is in danger because of cryptocurrency. And still they have the audacity to say this. But it's not possible to steal Satoshi's glory!

Are you kidding me? How many people around the world are using Paypal on a daily basis? 300 million? How many people around the globe are using cryptocurrencies on a daily basis? 10 million? 30 million? To be honest, I don't know the exact number, but it's way lower than the total amount of Paypal users. Paypal's business isn't in danger because of crypto. That's why there's isn't any problem for Paypal to adopt crypto payments. The former Paypal president actually tried to say that they want to popularize Bitcoin. He's not wrong about this. Bitcoin is way less popular compared to Paypal.

DapanasFruit

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This is so ironic all because PayPal is one of the many financial institutions that Bitcoin should be not friendly. However, all I know is that PayPal is making itself more relevant in the age where cryptocurrency is here to stay...in other words they are trying to make a slice of the pie in terms of use and profits. Anyway, let's just let PayPal imagine things because at the end of the day it will not a factor in the whole scheme of things, no matter how it tries to be.

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Quote from: Hamza2424 on September 15, 2023, 02:28:49 PM

Haha, well Op it really sounds familiar, Once upon a time there was a payment system called PayPal 😂, the freelancers in my country begged for their service back in time to conduct easy cross-border transactions they surveyed launch their service here in my region but then they decided their standard is too high so we can't allow a 3rd world economically struggling country to use our service.

Then the time came to a turn in 2017 and the people here realized that a better payment mode I already there and they could even utilize it for other purposes, the community started supporting the system and after a couple of years nobody cared about the well know payment mode Paypal even a time came where those people who bagged for it were not even familiar now what's their name and purpose and now they are coming to announce that the system which is already being recognized by every digital skill holder, investor, trader even standing to convert into the global payment system. The system used to be called the Universal trade solution and payment mode solution by its community even by the opposition well now that rt Paypal never cared about the development except for the business.

Paypal may have been set a high standard but I being in a third-world country have been using paypal for almost a decade now. Not that I am supporting Paypal, but I still think their service is rubbish.

Quote

Who knows Paypal = No one.

Almost everyone who uses online payment

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Who Knows BTc = Brother Who don't.

Still, a lot does not know Bitcoin, I believe Paypal is still more popular than Bitcoin in terms of online payment.

But this declaration of PayPal made me laugh when one point in time, they are banning accounts engaged in cryptocurrency trading and then all of a sudden they embraced Bitcoin as if it is their own products LOL.

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

we are trying to make water wet .

Saw this interview video clip posted on telegram by a news channel i am following, the interview had former president of PayPal and in the video clip, he's saying that, they are trying to turn Bitcoin into a Global payment Network, and in my own words, what I heard is "they are trying to make water wet 😂..

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Are they trying to steal Satoshi's glory? Not possible I believe..

Source: https://t.me/WatcherGuru/5234

Yeah, unfortunately it's like that... something is working for a decade then some rich a$$hole announces they "will make it work" and everybody thinks he's a genius and signs up in a hurry for their "new", "revolutionary" service. Grin

Hamza2424

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Haha, well Op it really sounds familiar, Once upon a time there was a payment system called PayPal 😂, the freelancers in my country begged for their service back in time to conduct easy cross-border transactions they surveyed launch their service here in my region but then they decided their standard is too high so we can't allow a 3rd world economically struggling country to use our service.

Then the time came to a turn in 2017 and the people here realized that a better payment mode I already there and they could even utilize it for other purposes, the community started supporting the system and after a couple of years nobody cared about the well know payment mode Paypal even a time came where those people who bagged for it were not even familiar now what's their name and purpose and now they are coming to announce that the system which is already being recognized by every digital skill holder, investor, trader even standing to convert into the global payment system. The system used to be called the Universal trade solution and payment mode solution by its community even by the opposition well now that rt Paypal never cared about the development except for the business.

Who knows Paypal = No one.
Who Knows BTc = Brother Who don't.

tygeade

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Quote from: NotATether on September 12, 2023, 02:57:36 AM

Bitcoin is already a global payment network with or without PayPal. They are just salty because people can opt out of them as a payment method.

Besides, do any of you guys want your BTC to be limited because you're making transactions to people they don't like?

How about paying a $2000 transaction fee to PayPal as a "good behavior tax"?

Paypal definitely wanted to make it work like paypal is the way to go if you want to make bitcoin related payments, but the reality is that you can do it directly without using paypal at all and that should be the important news to get out of this.

I understand that some people are a little different and they want the security of a company like paypal when they are doing something so that they are more defended but that doesn't mean that you are going to end up with something like that when you use Paypal, they are just lying about it to you that they are safer but if you know the address you want to send money to, then you should be fine and do a lot better and be a lot safer yourself without help of anyone else.

Sim_card

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Paypal is only acting the middle man on bitcoin payment and they as he claim can never add any single thing to the way bitcoin was designed,which is for p2p payment method. It is only the centralized entities or institutions that are claiming that they are helping people to use bitcoin for payment,forgetting that ever since the existence of bitcoin it has been used as a payment method globally and that was the purpose of its creation. It is the people that are not ground in bitcoin knowledge that will fall for their lies because they want to advertise their business. David Marcus words sound very ridiculous and childish for claiming to do something that is already existing.

Ojima-ojo

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Quote from: Fivestar4everMVP on September 12, 2023, 02:31:23 AM

Quote from: Fundamentals Of on September 11, 2023, 09:49:49 PM

Lol. But that's true. Bitcoin is already a global payment network with its own native currency. That's what Bitcoin already is right from the start. But we know what he meant. He is simply saying he will create a payment platform using or which offers Bitcoin that would be used all over the world.

Yeah, you are very right, quite understand perfectly the meaning but honestly, the fact that this guy's were really against Bitcoin in the past, they saw Bitcoin as a threat to their business and castigated it in the past, said all manner of negative stuffs against Bitcoin just to bring it down, but I believe that today, they have realized that Bitcoin can't be stopped, and that the sooner they embrace it, the better for them..

I personally just get so annoyed with this bunch of hypocrites any time I watch them talk so good about Bitcoin , and I remember all the bad things they said about same Bitcoin in the past.

Both of you are speaking from the angle of the knowledged bitcoin holders, because as it is bitcoin have performed it primary role since it inception in 2009-2010 as an alternative currency and tgat has veen the requisite for bitcoin development over time, it now a proven fact that Bitcoin hace sustainability in terms of financial alternatives.

Bitcoin gave sustained a long term sustainable services both as an asset and also as an alternative payment currency, so why do we discuss bitcoin to be approval, Bitcoin is already a global alternative currency to those who have the fundamental knowledge of the bitcoin.

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Quote from: Fundamentals Of on September 11, 2023, 09:49:49 PM

Lol. But that's true. Bitcoin is already a global payment network with its own native currency. That's what Bitcoin already is right from the start. But we know what he actually meant. He is simply saying he will create a payment platform using or which offers Bitcoin that would be used all over the world.

This was exactly what he meant. He has a platform that he thinks will help make Bitcoin more accessible and acceptable in the global financial system. His firm Lightspark deals in Lightning Network infrastructure and he feels that bitcoin can work like Papal using a decentralized network. Marcus stated that with his services bitcoin transactions can be faster, cheaper, and cover wider coverage. I wonder how he intends to make bitcoin operate like a highly centralized platform like Papal using a decentralized network.

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Of course, to somebody who is already using Bitcoin as a peer-to-peer payment network, that's actually not interesting. That simply means he will make a centralized business out of a decentralized system. That goes against the very design of Bitcoin.

Any transaction that is not Peer-to-peer is against the reason for the invention of Bitcoin. If a transaction in a Bitcoin system requires people to provide their personal in the form of KYC, the process has been adulterated.

Dunamisx

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

I don't see this as more of an attempt to gain social media attractions, maybe the concept he's taking it from is different from the way you received the projection, i think what he's trying to say is that they will together with the whole world join in constituting bitcoin adoption globally, which could also be interpretated that they will not be left out in the globalization of bitcoin amidst other countries, companies and institutions making their own decisions to join in the adoption as well, He should have known that bitcoin is already a global digital currency and is everywhere.

Synchronice

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Quote from: franky1 on September 11, 2023, 11:44:18 AM

its funny how they pretend to say they are going to make bitcoin better.. but then tell people to not use the bitcoin network and use some other system the promoters made.. which requires middle men to sign off on peoples choice of payments

PayPal has some kind of authority, many people think that PayPal is cool, the king of payments and so on. PayPal has its audience, right? So, they speak to them and they know how to speak to them. It's not really funny that people believe PayPal is going to make Bitcoin better, it's more likely a tragedy.

Quote from: bittraffic on September 11, 2023, 12:33:40 PM

They've literally joined BTC years ago. It's the strategy just as they say 'If you can't beat them, join them.'

That's exactly what they are doing!

Quote from: Text on September 11, 2023, 06:50:54 PM

David Marcus, the former president of PayPal and current CEO of Lightning Network’s Lightspark, recently shared his vision for Bitcoin on CNBC’s Squawk Box. He aims to transform Bitcoin into a global payment network. This vision goes beyond Bitcoin’s current status as a digital store of value, and charts a course to redefine the financial ecosystem on a global scale.

I read an article about his vision for Bitcoin and to be honest, what he says is not a lie. Current model of Bitcoin ecosystem is not ready for massive transactions and if we increase the number of transaction, mempool gets clogged and it takes hours and days, sometimes even weeks to get your transaction confirmed unless you plan to pay a lot of money in fees. He said this and it's definitely right but the problem is that PayPal is not a solution and will never solve the actual problem in our favor.

xSkylarx

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My first thought was that they really advertise Bitcoin or that they will be using it on some app or website just spreading news about it but it goes deeper and I agree that they are kind of fooling around as Bitcoin is already a global payment and nothing needs to be done about it. Probably they are just wanting people to use Bitcoin more as a payment service than an investment or they are planning to have their own token that will be used by all.

NotATether

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Bitcoin is already a global payment network with or without PayPal. They are just salty because people can opt out of them as a payment method.

Besides, do any of you guys want your BTC to be limited because you're making transactions to people they don't like?

How about paying a $2000 transaction fee to PayPal as a "good behavior tax"?

Fivestar4everMVP

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Quote from: Fundamentals Of on September 11, 2023, 09:49:49 PM

Lol. But that's true. Bitcoin is already a global payment network with its own native currency. That's what Bitcoin already is right from the start. But we know what he actually meant. He is simply saying he will create a payment platform using or which offers Bitcoin that would be used all over the world.

Yeah, you are very right, quite understand perfectly the meaning but honestly, the fact that this guy's were really against Bitcoin in the past, they saw Bitcoin as a threat to their business and castigated it in the past, said all manner of negative stuffs against Bitcoin just to bring it down, but I believe that today, they have realized that Bitcoin can't be stopped, and that the sooner they embrace it, the better for them..

I personally just get so annoyed with this bunch of hypocrites any time I watch them talk so good about Bitcoin , and I remember all the bad things they said about same Bitcoin in the past.

bayu7adi

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While you may be quite confident that Bitcoin is already functioning well as a global currency, the support it receives shouldn't create new issues for debate. In fact, those who endorse Bitcoin in this manner are exactly what the network needs, even if we suspect an individual is seeking personal gain from their contributions to Bitcoin.

Regardless of whether their motives are self-serving or they're trying to play the hero, do we genuinely appreciate it when they act otherwise? I mean, do we all really want them to attempt to hinder Bitcoin's growth through any means at their disposal?

Now that we've established that he isn't a true hero and he wishes to contribute positively to Bitcoin, I'd rather just let him be.

Fundamentals Of

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Lol. But that's true. Bitcoin is already a global payment network with its own native currency. That's what Bitcoin already is right from the start. But we know what he actually meant. He is simply saying he will create a payment platform using or which offers Bitcoin that would be used all over the world.

Of course, to somebody who is already using Bitcoin as a peer-to-peer payment network, that's actually not interesting. That simply means he will make a centralized business out of a decentralized system. That goes against the very design of Bitcoin.

kro55

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Quote from: tbct_mt2 on September 11, 2023, 06:28:47 PM

Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Bitcoin is a peer to peer transaction network but what Bitcoin transactions are used for, as payments or whatever purposes, we can not know because it depends on two people are in a deal. In some countries, using bitcoin as a payment method is prohibited, illegally. I guess it is the meaning from the Paypal's former President.

It is similar to buying bitcoin and holding it, you have no problem with government. If you sell your bitcoin to cash, it's prohibited by law.

I also have the same thoughts as you, it seems that people are too excited and misunderstand what the former President of Paypal wanted to say.
Basically, bitcoin has been a peer-to-peer payment system since its inception but looking at the reality so far, how many countries are using it for payment purposes? How many of us are using bitcoin as a payment method or just using it for speculation? We ourselves have never taken any action to promote bitcoin as a global payment network, we are just exploiting it for our own profit. We have no right to criticize anyone.

joniboini

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Quote from: Text on September 11, 2023, 06:50:54 PM

Your analogy of “trying to make water wet” suggests that you believe Bitcoin already functions as a global payment system. Indeed, Bitcoin is already used for transactions worldwide. However, Marcus’ statement likely refers to enhancing the efficiency, speed, and accessibility of these transactions.

It is also worth noting that his way of enhancement is basically making it controlled through centralization afaik. I don't think that is surprising. Most big finance platforms won't give up control and would prefer to profit from new things like Bitcoin. I don't think this is how most Bitcoiners like to use Bitcoin as a payment network, so disagreement should be expected. At the end of the day, this won't stop any development on the Bitcoin network as long as there is community behind it.

Text

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David Marcus, the former president of PayPal and current CEO of Lightning Network’s Lightspark, recently shared his vision for Bitcoin on CNBC’s Squawk Box. He aims to transform Bitcoin into a global payment network. This vision goes beyond Bitcoin’s current status as a digital store of value, and charts a course to redefine the financial ecosystem on a global scale.

Marcus believes that Bitcoin’s potential remains largely untapped, with opportunities for it to assume a more expansive and pivotal role in the world of finance. He emphasized the urgency of Bitcoin’s evolution, focusing on delivering faster, more economical, and exceptionally efficient transactions.

Your analogy of “trying to make water wet” suggests that you believe Bitcoin already functions as a global payment system. Indeed, Bitcoin is already used for transactions worldwide. However, Marcus’ statement likely refers to enhancing the efficiency, speed, and accessibility of these transactions.

As for your question about “stealing Satoshi’s glory”, it seems Marcus’ intention is not to take credit for Bitcoin but rather to contribute to its evolution and increase its utility as a global payment network.

https://www.forbes.com/sites/digital-assets/2023/09/11/former-paypal-president-david-marcus-sets-sights-on-transforming-bitcoin-into-a-worldwide-payment-network
https://bitcoinmagazine.com/markets/former-paypal-president-david-marcus-aims-to-turn-bitcoin-into-a-global-payment-network

tbct_mt2

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Bitcoin is a peer to peer transaction network but what Bitcoin transactions are used for, as payments or whatever purposes, we can not know because it depends on two people are in a deal. In some countries, using bitcoin as a payment method is prohibited, illegally. I guess it is the meaning from the Paypal's former President.

It is similar to buying bitcoin and holding it, you have no problem with government. If you sell your bitcoin to cash, it's prohibited by law.

Odohu

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This is more like "if you can't beat them, join them". Paypal seems to have come to terms with the reality that Bitcoin is the future that is why they are gradually keying into it. I am not surprised one bit; the power tussle between the East and the West leaves a lot of uncertainties with fiat and centralized payment systems. This might give a kind of clue to the recent huge buys of Bitcoin... who knows if such buy came from institution like Paypal (just my opinion though).

The future is truly looking so bright for Bitcoin and those of us who are already in should endeavor to maximize the opportunities that Bitcoin offers.

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

we are trying to make water wet .

Saw this interview video clip posted on telegram by a news channel i am following, the interview had former president of PayPal and in the video clip, he's saying that, they are trying to turn Bitcoin into a Global payment Network, and in my own words, what I heard is "they are trying to make water wet 😂..

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Are they trying to steal Satoshi's glory? Not possible I believe..

Source: https://t.me/WatcherGuru/5234

I watched his video and it is clear that the former president of PayPal did not in his sense recognize Bitcoin as a global currency, Bitcoin is a global currency already so how he can say this on a TV show? It may be possible that the former president downplays the importance of Bitcoin for the purpose of promoting his own products.

Bitcoin is a proven technology and it has a million of users around the world so it is inappropriate to say this as it is already a global payment technology. In the case of stealing Satoshi Glories, it is impossible because Sastoshi is the legend of a blockchain network and his work has a long-lasting impact on the world According to me is not possible for someone to do that.

Aikidoka

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I think PayPal is trying to implement Bitcoin into their system which is why they're making such statement like that. I mean, Bitcoin is already in use worldwide so they don't necessarily need to adopt it as a global payment method because it already is.

It would be great if PayPal starts accepting Bitcoin though. I'm pretty sure that would have a positive impact on Bitcoin and the price would increase significantly.

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

former president of PayPal and in the video clip, he's saying that, they are trying to turn Bitcoin into a Global payment Network

Are they trying to steal Satoshi's glory? Not possible I believe..

They are not trying to make Bitcoin a global payment network because it already is a global payment network but they are using those words only to attract new investors into their services. They know that most fans of Bitcoin just want it to reach to millions and they are somehow trying to make a drama that they are the ones that will make Bitcoin available to everyone.

They forgot the fact that Bitcoin is available to everyone because Satoshi made Bitcoin for everyone and no country or any institution can control Bitcoin in anyway. Everyone in the world can trade with Bitcoin and everyone can purchase and accumulate Bitcoin and that's enough to confirm that Bitcoin is in fact a global network since its beginning and it will remain as a global network forever.

Fiatless

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

we are trying to make water wet .

Saw this interview video clip posted on telegram by a news channel i am following, the interview had former president of PayPal and in the video clip, he's saying that, they are trying to turn Bitcoin into a Global payment Network, and in my own words, what I heard is "they are trying to make water wet 😂..

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Are they trying to steal Satoshi's glory? Not possible I believe..

Source: https://t.me/WatcherGuru/5234

David Marcus was not speaking on behalf of Papal but his personal views or vision. He is now the CEO of Lightspark and has no role in Papal anymore. But his claim that he wants to turn Bitcoin into a Global Payment Network is heresy. Bitcoin is already a globally recognized payment system that would have achieved more global adoption if not for some unpleasant policies by the government. Marcus was simply advertising his company Lightspark that deals on lightning network. It is a subtle strategy to introduce people to his lightning network services.

ZAINmalik75

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

we are trying to make water wet .

Saw this interview video clip posted on telegram by a news channel i am following, the interview had former president of PayPal and in the video clip, he's saying that, they are trying to turn Bitcoin into a Global payment Network, and in my own words, what I heard is "they are trying to make water wet 😂..

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Are they trying to steal Satoshi's glory? Not possible I believe..

They can not steal the Satoshi's product because Satoshi had made his product open source and decentralized but PayPal is totally the opposite. I just read a post about Vitalik's Twitter handle which caused a huge loss when people connected their wallets to that fake link. These centralized authorities and platforms have always blamed others and tried to save themselves. Still, PayPal will use the BTC blockchain technology and build its umpire on those who have not adopted the BTC yet but once they see it coming in PayPal they will definitely try to think for a second about BTC and try to adopt BTC and its derivatives.

They are fooling those who are traditional or I should say old financial people who still fall behind in the race of adoption of new technology. Why because they fear the new technology's volatility and existence. I think they are just trying to make some good image of PayPal in front of people because they also have to rope onto something if they want to remain in the competition I think they might fear the existence of a BTC payment system that has the potential to replace them and it do have replaced it. But people who did not adopted BTC yet are the old ones.

so98nn

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That is most stupidest thing coming from the company whose founder seems not to have been interested in Bitcoin for a year now. After Elon did his Bitcoin-selling drama and shut off the whole project in the name of environmental actions things turned upside down for them. No one is going to belive this shit at all.

And what does he mean by making it a global payment network? Goddamit, it is already a global network and the best thing is it's a public ledger and you cant control it. I can't believe this is coming from PayPal's highest management position. I think what he wants to say is simple: "I want Bitcoin under my control, I will sell and buy at the price I want". LOLZ

Nwada001

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PayPal and their marketing strategy: what are they really trying to do? Trying to convince the world or their customers that they have a separate technique for making Bitcoin a better payment option than it already is If they are trying to make bitcoin a globally accepted payment option, why do they make a huge move by getting their own stable coin (PYUSS), for which I believed they would have to put more focus on promoting its use to the highest possible level? Why not try to channel that energy into Bitcoin and see how they can promote its use on the global market if that's what they are really trying to do?

What I see here is them trying to attract more customers to their platform using this convincing strategy and speech so that those who believe in the bitcoin dream can join their ship, but that will really be a collapsing ship, by the way, as what they might end up doing or coming up with is an altcoin maybe to support their dream, which they could also suggest is the best alternative as it could be considered faster and has a cheaper fee rate. All I could see in this is a business looking for a new way to stand out above their competitors.

DVlog

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

we are trying to make water wet .

Saw this interview video clip posted on telegram by a news channel i am following, the interview had former president of PayPal and in the video clip, he's saying that, they are trying to turn Bitcoin into a Global payment Network, and in my own words, what I heard is "they are trying to make water wet 😂..

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Are they trying to steal Satoshi's glory? Not possible I believe..

Source: https://t.me/WatcherGuru/5234

So they are going to put a door into a house and call it their innovation! Bitcoin was created to become the decentralized payments system and it is working fine that way till now. now they are trying to provide service for it and telling the world we are going to make it a global payment system. Look we are doing you a favor. This is kind of funny you know.

If we keep the criticism apart and consider PayPal's influence in action then I can say they can make Bitcoin transactions more user-friendly for their users. This will provide a convenient way for their users but this will not benefit the decentralization of bitcoin.

Casdinyard

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Bitcoin is already a global payment system, what are they trying to do differently here?

I don't think anyone who's a CEO of a (let's at least give it to them) successful but clearly inferior and outdated payment system's got anything valuable to impart over a cryptocurrency who has proven itself time and time again to be a better payment and remittance system than even the digital payment processing systems we got at the moment in the fiat side of the planet. He needs to chill lol. Bitcoin is in its own lane and it's already one thing to pull it into the paypal which arguably didn't really sit well with both avid paypal users as well as bitcoin users since they don't really employ the blockchain technology in the equation but instead is offering what could only be described as "a stablecoin pegged to bitcoin", saying useless stuff like this isn't going to push people back to their sides lol.

bittraffic

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They've literally joined BTC years ago. It's the strategy just as they say 'If you can't beat them, join them.'

And because Satoshi has no face, they are trying to steal the merit. It's not the first time to happened, we saw a number of entities Nonetheless it is still good to see the old system adopting the new technology and they are not shy to do it, unlike the big banks who still are trying to stray the regular people from adopting the future of currency.

serjent05

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Hasn't PayPal already issued their stablecoins? I wonder how they can turn Bitcoin into a global payment network when it is now a conflict of their interest due to their current stablecoins. I believe this is all a marketing stunt and they are trying to convince BTC holders to use their service so that they can push their own stablecoins towards these clients.

Quote from: Faisal2202 on September 11, 2023, 12:09:53 PM

Haha they are trying to add color to a rainbow. Why I am not amazed after hearing this interview. I think that's because here PayPal is showing and manipulating words in a way to emphasize that they are trying to add colors to the rainbow while they are using the colors of the rainbow (BTC) to color themselves. So that they would remain in the competition for a while.

I agree with your statement. Paypal is now using Bitcoin to attract holders to use their services.

Faisal2202

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Quote from: Fivestar4everMVP on September 11, 2023, 10:58:57 AM

we are trying to make water wet .
...................
Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Are they trying to steal Satoshi's glory? Not possible I believe..

Haha they are trying to add color to a rainbow. Why I am not amazed after hearing this interview. I think that's because here PayPal is showing and manipulating words in a way to emphasize that they are trying to add colors to the rainbow while they are using the colors of the rainbow (BTC) to color themselves. So that they would remain in the competition for a while.

Haha, that's really so hilarious. And many short-minded people (by short-minded I mean those who have little or no knowledge of BTC) must have fallen for this shit. Because for them these suited and booted people are real people and to them our talks and discussions are nothing.

Well, at least people will adopt BTC using this excuse. PayPal is playing the same game that ETFs are trying to play here. The game of manipulation. hehe. I don't think they can really steal Satoshi's glory because PayPal is Centralized and Satoshi's glory is decentralized. Case close. Cool

Vaskiy

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This is the statement from the former PayPal president. He had understood the technology advancement happening around and the advantage it had got over the traditional system. It is a must situation to move along with the need than just trying to matchup with the traditional system.

Earlier Peter Thiel, co-founder of PayPal have said in an interview that if they had known blockchain technology earlier they could've used it. In such case bitcoin could've gained importance as payment source, however things hadn't favoured. So, there are more positive thoughts on bitcoin and it's backing technology.

Ojima-ojo

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Quote from: avikz on September 11, 2023, 11:12:50 AM

This is nonsense! Paypal's business is in danger because of cryptocurrency. And still they have the audacity to say this. But it's not possible to steal Satoshi's glory!

PayPal may be trying to implement Bitcoin payment on the platform as against what it is right now, but this statement still sounds sarcastic to me PayPal with all its restrictions to countries want to make Bitcoin a global payment network, because in my region right now PayPal is not operational but I can still do all the payment using the bitcoin network so I wonder what I will be needing a third-party centralized payment system like PayPal.

The statement is from an ex-CEO who may be making an outdated statement since he may no longer be involved in the ruining of PayPal, but in general, I don't see any positivity in this and should not make any news.

franky1

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paypal want to make their own subnetwork, based on a failed existing subnetwork to hoard actual bitcoin in locks custodianised by hub channel owners.. while letting people pay with paypal units of pegged bitcoin of promises of claims which are unsettled inbound balance until released from the locks and confirmed on the actual bitcoin network.. much the same as some other failed subnetwork it is based on that pretends to be bitcoin 2.0

its funny how they pretend to say they are going to make bitcoin better.. but then tell people to not use the bitcoin network and use some other system the promoters made.. which requires middle men to sign off on peoples choice of payments

avikz

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Here is the video link if anyone is not willing to use Telegram link posted by op.

https://youtube.com/shorts/J3Cco4WmnEo?si=DsoKkTC7wvBdAGw0

This is nonsense! Paypal's business is in danger because of cryptocurrency. And still they have the audacity to say this. But it's not possible to steal Satoshi's glory!

Fivestar4everMVP

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we are trying to make water wet .

Saw this interview video clip posted on telegram by a news channel i am following, the interview had former president of PayPal and in the video clip, he's saying that, they are trying to turn Bitcoin into a Global payment Network, and in my own words, what I heard is "they are trying to make water wet 😂..

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Are they trying to steal Satoshi's glory? Not possible I believe..

Source: https://t.me/WatcherGuru/5234

Topic: We Are To Turn Bitcoin into a Global payment Network - Former PayPal President (Read 272 times)