Will Paypal make bitcoin mainstream? The website makes me think so...

Oilacris

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Quote from: BuNga_cute on March 11, 2021, 06:02:40 PM

The popularity of Paypal is unquestionable, all internet users must have heard of Paypal. And I believe the popularity that Paypal has can help
Bitcoin become even more recognized by many people. But unfortunately Paypal only serves Bitcoin transactions on their platforms, can't run
like other wallets yet. Even so, I was quite happy that Paypal's platform finally recognized Bitcoin.

Recognition like this is better rather than have nothing at all at least we do saw a big company in payment system does recognize bitcoin and adding it up.Going back on to those times where the hype

or interesting is building up when rumors or news that Paypal is trying to adopt bitcoin which did really give out some bullish sentiment in the market and together with some other companies as well
and we wont be seeing this price if without arent those news or acceptance in the past.

Becoming mainstream because of Paypal? I still have doubt on that.

Ridwan Fauzi

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I don't think so, there are so many people especially in my country who doesn't know about paypal. They still use the old way to sending money and etc although there are some digital payment popping up they still choose cash system.

Maybe it will take a few time and need a proccess to make many people know about new system that can help them. Actually, most people now has been known about bitcoin, but they still reluctant to using it becausw they haven't known the real function about it, most of them just sopposed that bitcoin a gambling place.

BuNga_cute

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The popularity of Paypal is unquestionable, all internet users must have heard of Paypal. And I believe the popularity that Paypal has can help
Bitcoin become even more recognized by many people. But unfortunately Paypal only serves Bitcoin transactions on their platforms, can't run
like other wallets yet. Even so, I was quite happy that Paypal's platform finally recognized Bitcoin.

Rexler

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PayPal is probably the main reason the bull run started, right after PayPal announced that they have adopted crypto that was when bitcoin started pumping insanely, I believe PayPal can help bitcoin go mainstream cuz it has a record of over 330million users, imagine half of their users buying bitcoin that definitely a plus for bitcoin, also its easy to make payments for things using PayPal people can now shop or pay for goods with bitcoin in their PayPal wallet,I think we still need more payment platforms to adopt bitcoin for it to go mainstream this is just one step towards achieving that goal.

eaLiTy

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Quote from: dothebeats on March 10, 2021, 01:31:58 PM

PayPal bridged the gap between unknowing people on how to invest in crypto and the crypto world. Though what PayPal offers may not be something that can be considered the real deal yet, at least it gave the people some experiencing and feeling of being a part of the free market.

It is true that PayPal will expose the cryptocurrency market to an entirely new demographic of users and even though they are not allowing the users to withdraw the coins the company has assured that the users will be able to withdraw and send the coins later this year and it may be because they are testing their system so that they do not need any mishaps to strengthen their security and the market is notorious for exchange hacks .

Quote from: dothebeats on March 10, 2021, 01:31:58 PM

PayPal could take crypto in general to new heights if they offered the right services and mixed it with some magics of their own. We're slowly getting there, and it's only a matter of time before PP itself becomes a cryptocurrency player aside from their payment processing role right now.

They might start an cryptocurrency exchange because every major player in the industry is aware of the huge profit the new kids in the block are making by running cryptocurrency exchanges.

acener

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It could be the way for Bitcoin to be recognize and be used by everyone specially those who doubt it before.
Now that Paypal and other big companies are joining it or investing and accepting it on their platform it would have a huge impact towards Bitcoin adaptation.
But I still like Bitcoin to be decentralized and want my funds to be store and manage by myself.

FinneysTrueVision

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It is not something that I am too interested in because I prefer to use bitcoin in a decentralized peer-to-peer manner. For regular people who aren't into bitcoin already this will probably make them notice it and they will probably start considering their options for investing in BTC. Since they made their announcement we have certainly seen awareness and adoption begin to increase and it has had a noticeable impact on the price.

Ryker1

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Well, that is right bitcoin is already on mainstream but there is a possibility that there are perhaps more people who did not know yet about cryptocurrency. And this announcement of Paypal will give the opportunity to bitcoin will become more well known or get more awareness to people who used Paypal. Because they intend to have a wide number of users due to this announcement. This is an overall give advantage to bitcoin as well, the awareness to become interesting to bitcoin and begin research. However, I am afraid of how many people will trap in Paypal that they don't have full control over their bitcoin.

Twentyonepaylots

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If it does then it means it's working. Though I have to argue that at least for me, bitcoin is already mainstream, being talked about it all types of media, even before PayPal decided to include a cryptocurrency feature in their site. So if anything it's PayPal leeching off of bitcoin's success for the lack of a better term. Still, PayPal doing this could help get more people to buy in vryptocurrencies and include them in their investment portfolios so I guess this is a good gaeway for the newcomers.

shantos carora

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PayPal said it would allow its users to buy, store and sell cryptocurrency with their accounts in the next few weeks.

PayPal also added that more than 26 million traders who use this platform will accept cryptocurrency as a source of funding.

They plan to expand the feature to the Venmo app and its international markets through the first half of next year.

Likewise, mainstream finance has recently adopted a previously neglected asset class. Square grossed 4,709 bitcoins worth US% 50 million in early October.

As such, bitcoin could become a “more discoverable currency” in the future.

Shasha80

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I believe with the popularity of Paypal and the huge number of Paypal users, it should be able to make Bitcoin more and more mainstream.
The proof is after Paypal accepted the purchase of Bitcoin on their platforms, besides the Bitcoin price went up, making many new investors
interested in investing in Bitcoin. Even though Bitcoin is already mainstream, but it takes support from Paypal to convince big investors to be
confident investing in Bitcoin.

ene1980

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Quote from: Lauren Smith on March 09, 2021, 03:08:21 PM

I hate Paypal and want it to leave bitcoin alone.

I do not hate PayPal as i am not using them at all, i used a decade ago and now a days i use once in a while if i need to purchase anything and i do like to hold my money in it nor doing business but the only use is to purchase something and the addition of bitcoin is a good aspect as there are many who knew about bitcoin but never tried to take the plunge to invest in it might try them for the first time and hence you cannot say it is a bad move.

BitcoinzB

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It's just a matter of time indeed. Paypal, being a big player in the transactions market, is all about the revenue; I wouldn't be surprised if they already invested quite a lot in cryptocurrencies seeing how the markets are going lately.
Volatility is always a big issue though, we'll see how the situation is going to develop in the near future with cryptocurrencies becoming more and more mainstream.

solarmainframe

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I have the feeling it will certainly help to expedite the growth of Bitcoin as an investment, although actually transacting over the network is a different story. It seems (correct me if I'm wrong) that PayPal won't let you withdrawal Bitcoin to an external wallet, or really manage it at all, which limits its usage beyond belief. Instead it's more a way for people who don't want to or don't trust a platform like Coinbase to dip their feet in the water of decentralized currency. I do have to say that if a large company like PayPal decides to back cryptocurrencies that skeptics may become more interested in the platform.

DarkDays

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Quote from: GreatArkansas on March 08, 2021, 05:54:41 PM

Paypal will adapt what's current trend just like cryptocurrency or they will start to rot. There are lot of people who are glad when they can start to buy Bitcoin in Paypal.

I agree. Paypal like most of these financial institutions would do what they need to do to make their capital gains. Buying crypto is no different. So it doesn't matter what crypto it is as long as brings the revenue.

dothebeats

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PayPal bridged the gap between unknowing people on how to invest in crypto and the crypto world. Though what PayPal offers may not be something that can be considered the real deal yet, at least it gave the people some experiencing and feeling of being a part of the free market.

PayPal could take crypto in general to new heights if they offered the right services and mixed it with some magics of their own. We're slowly getting there, and it's only a matter of time before PP itself becomes a cryptocurrency player aside from their payment processing role right now.

TedMosby

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https://bitcointalk.org/index.php?topic=5274318.0

Never knew about that referral program before. is it crypto?
because I read the news that paypal acquires crypto company before.
https://www.prnewswire.com/news-releases/paypal-to-acquire-curv-301242347.html
https://www.cnbc.com/2021/03/08/paypal-to-acquire-crypto-security-company-curv.html

I've tried to visit the UK site and used UK proxy. can't find it on the paypal website.
but I found this https://www.paypal-community.com/t5/Products-and-Services/refer-a-friend-by-sending-1p-and-get-10-bonus/td-p/1992549
A community discussion thread regarding that referral program. The question was asked in 2019.

mezzaluna

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Quote from: Bitstar_coin on March 08, 2021, 12:51:21 PM

Give credit where it is deserving right! Can't deny the PayPal announcement invoke a movement in the crypto space which also affect price positively, in my mind, btc already mainstream, anyways, the website does look very inviting enough to attract the elite to take part in the crypto journey.

That is actually a great observation and I am glad that I have read it. It really gave Cryptocurrencies a great boosts because of all the promotion it has been having lately and we really can't deny that Cryptocurrency is not yet mainstream because it is and its only a matter of time when its really recognized everywhere. Another great thing that Paypal can do is to really publicly announce it or try to post it on their public advertisements that they would be allowing Bitcoin transactions within their platform in which people would really be intrigued to learn.

Lauren Smith

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"could" Being the operative keyword here. It is the same as when they market and they will say. "Get up to $xx/xx% back"....

Read very carefully. "Up to" "could" can mean anything. I could get struck by lightning tomorrow. I could be hit by a car crossing the road. Win the lottery? (Which I never entered) Grin

Get impregnated by space aliens and go into labour?
All these things are could. In theory, the odds of anything happening are there even if they are 999999999999999999 to 1. The fact that it exists means there are odds for it.

For all, we know they give every 1000? 10000? To the person that $10? They not lying. They did say up to.

If I say you can win up to a billion $ and you win 1 $$ I have not lied to you. I just haven't given the exact details. That is why if it doesn't say it then don't assume it.

After having said that has anyone actually tried this?

I hate Paypal and want it to leave bitcoin alone.

Cnut237

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Paypal integration is a part of bitcoin becoming mainstream, yes. It's obviously not a full service from Paypal at the moment, it's an initial toe-in-the-water kind of thing... but as bitcoin's price increases, more people start to buy it, and the price increases some more... which starts to draw the attention of major players both within and outside finance.

I don't think you can have either a high bitcoin price or mass adoption without companies like Paypal becoming interested. Would we have $50k bitcoin right now if it wasn't for Tesla buying $1.5b?

DapanasFruit

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This is a question of when and not if. I am sure that PayPal has the resources and the influence to be helping Bitcoin and the whole cryptocurrency market get into a higher ground and to reach more millions who are not yet with us. Paypal has the reputation of being legal and many people are still trusting the name being the pioneer in the payment field and being a big leader in its industry. Now, that it is working hand in hand with cryptocurrency, I am seeing a wider and brighter future for all of us here.

isaac_clarke22

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Quote from: sheenshane on March 08, 2021, 06:18:01 PM

Quote from: aoluain on March 08, 2021, 02:30:04 PM

I cannot see anything about Bitcoin from the OP.

~

Still depends on some people.
I still saw some common people in social media showing hate to Bitcoin while I know they're truly familiar with digital payment systems like Paypal.
Only thing to consider is how will people look at Bitcoin.

avikz

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Given the brand value that Paypal enjoys right at this moment, they are definitely helping in bitcoin adoption. However, there are several fundamental flaws within Paypal's crypto system at this moment.

1. You can't have the private key of your wallet
2. You can't withdraw the bitcoins to your own wallet which you have purchased from Paypal
3. You can't send your bitcoins to any other wallet outside PayPal

So even if they are helping in crypto adoption, their mode of operation is fundamentally flawed and goes against how bitcoin should work without an intermediary. So it's not desirable at all!

cheezcarls

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I respect the fact that Paypal is one of the biggest players in Bitcoin adoption. However, what I still don’t like about Paypal is that we cannot move our Bitcoin and other supported cryptocurrencies to other third party wallets except buying and holding it in our Paypal accounts. And of course, not our keys, not our coins. Assuming that we have experienced massive gains on Bitcoin’s price, Paypal could freeze our accounts and may ask us for some documents or so in order to successfully withdraw our assets there. Just saying.

maxreish

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If paypal will successfully launched their plan with bitcoin payments. It would definitely become a mainstream for sure. As Paypal known as one of the online p2p and fast payments online, they've decided to enter and join cryptocurrency line. But I wonder since OP is from UK and there is a cryptocurrency ban issue there. How will Paypal also comply with those countries who wanted to use Paypal (if bitcoin payments were already accepted) with those regulations behind? Lips sealed

Poker Player

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Quote from: pooya87 on March 09, 2021, 03:54:46 AM

Quote from: nutildah on March 09, 2021, 01:09:16 AM

Quote from: pooya87 on March 09, 2021, 12:50:32 AM

Well you can't buy/sell bitcoin on PayPal, you can't deposit or withdraw bitcoin either. All you can do is to convert your PP into something they refer to as "bitcoin", which is more like an IOU. So they aren't doing anybody any favors, they are currently only earning commissions on a fake thing.

Besides bitcoin doesn't need centralized companies with a terrible history to take it anywhere. It is already conquering the world on its own.

It's not what PayPal can do for bitcoin so much as what PayPal can do with bitcoin for me. As one of the world's most popular payment services, it's pretty awesome that they are gearing up to one day integrate bitcoin payments. Where I live the legislation is so backwards PayPal can't even offer crypto purchasing options. Being able to use PayPal as a one-stop-shop instead of a bank is a good deal. They are good at what they do.

Sure it has its niche clientele (like many other services) but don't forget that bitcoin was created so that people wouldn't need any third parties to use their bitcoins whether it is to store or to make payments. I'm sure PayPal isn't going to stop at only being a place where people buy/sell bitcoin, it will turn into a centralized custodial wallet and a payment processor. I think you already know how bad that is.

One thing is the idea with which Bitcoin was created and another what happens afterwards. It was also created to be a P2P electronic cash system and, at least for the moment, it is succeeding more as a store of value than as a medium of exchange.

I think that Paypal with this does help the adoption of bitcoin mainstream, even if it is against the founding spirit, because if Bitcoin becomes massively used someday, the vast majority of people will use it without understanding how it works, in the same way that the vast majority of people use fiat money and do not understand how it is created or how central banks work.

pooya87

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Quote from: nutildah on March 09, 2021, 01:09:16 AM

Quote from: pooya87 on March 09, 2021, 12:50:32 AM

Well you can't buy/sell bitcoin on PayPal, you can't deposit or withdraw bitcoin either. All you can do is to convert your PP into something they refer to as "bitcoin", which is more like an IOU. So they aren't doing anybody any favors, they are currently only earning commissions on a fake thing.

Besides bitcoin doesn't need centralized companies with a terrible history to take it anywhere. It is already conquering the world on its own.

It's not what PayPal can do for bitcoin so much as what PayPal can do with bitcoin for me. As one of the world's most popular payment services, it's pretty awesome that they are gearing up to one day integrate bitcoin payments. Where I live the legislation is so backwards PayPal can't even offer crypto purchasing options. Being able to use PayPal as a one-stop-shop instead of a bank is a good deal. They are good at what they do.

Sure it has its niche clientele (like many other services) but don't forget that bitcoin was created so that people wouldn't need any third parties to use their bitcoins whether it is to store or to make payments. I'm sure PayPal isn't going to stop at only being a place where people buy/sell bitcoin, it will turn into a centralized custodial wallet and a payment processor. I think you already know how bad that is.

nutildah

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Quote from: pooya87 on March 09, 2021, 12:50:32 AM

Well you can't buy/sell bitcoin on PayPal, you can't deposit or withdraw bitcoin either. All you can do is to convert your PP into something they refer to as "bitcoin", which is more like an IOU. So they aren't doing anybody any favors, they are currently only earning commissions on a fake thing.

Besides bitcoin doesn't need centralized companies with a terrible history to take it anywhere. It is already conquering the world on its own.

It's not what PayPal can do for bitcoin so much as what PayPal can do with bitcoin for me. As one of the world's most popular payment services, it's pretty awesome that they are gearing up to one day integrate bitcoin payments. Where I live the legislation is so backwards PayPal can't even offer crypto purchasing options. Being able to use PayPal as a one-stop-shop instead of a bank is a good deal. They are good at what they do.

davis196

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Does Paypal really need such referral campaigns,in order to get more users?
Usually new and growing companies are relying on referral promotion for gaining more customers.
This referral system looks exactly like the Coinbase referral system.
Is this campaign active for the UK only?I will have to check my Paypal dashboard.
Anyway,the short answer to your question is NO.Bitcoin is already mainstream.We don't need a company with mixed reputation like Paypal to make it more mainstream.Last year's news about Paypal crypto adoption boosted the cryptocurrency prices,but nothing more.

pooya87

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Well you can't buy/sell bitcoin on PayPal, you can't deposit or withdraw bitcoin either. All you can do is to convert your PP into something they refer to as "bitcoin", which is more like an IOU. So they aren't doing anybody any favors, they are currently only earning commissions on a fake thing.

Besides bitcoin doesn't need centralized companies with a terrible history to take it anywhere. It is already conquering the world on its own.

Quote from: aoluain on March 08, 2021, 02:30:04 PM

I cannot see anything about Bitcoin from the OP.

Also this ^

orions.belt19

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Just very recently, Paypal has acquired the crypto company Curv as they further expand for crypto. It is expected that they will be launching crypto merchant payments this quarter 1 and when they do, then its very likely that crypto goes mainstream since Paypal has a very wide reach. Their announcement last October has definitely made the market bullish as they stated that customers would be able to use cryptocurrencies to shop at any merchant in its network beginning in 2021. Once they do launch this, anyone with Paypal can just buy, hold or sell crypto so it will be accessible even for those who don't sign up for exchanges or own any wallets.

batang_bitcoin

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With a huge user base and reputation, they will really help. Just imagine how the first news from them made rounds in the market and made bitcoin pump. And if there will be more from them and they will allow their users to transfer, in and out from their platform bitcoins that are being bought, that's another milestone that shall be credited to them. Everyone knows PayPal so if they will highlight bitcoin, it's like everyone who uses them is starting going to know about bitcoin.

Hamphser

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Its their own business or company, so if they decided to show up that kind of offering or cover up into their page when it comes to referral then theres nothing we can do.

They do stick out to typical fiat terms and doesnt really focus or emphasize even if they had integrated bitcoin.They do know that lots would be still interested if people would know(who doesnt know crypto)
will able to see these introductions which they do believe it is way more effective than on showing off bitcoin to that page.

No matter on what the things they would do, it wont really be enough on stopping out bitcoins adoption.

sheenshane

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Quote from: aoluain on March 08, 2021, 02:30:04 PM

I cannot see anything about Bitcoin from the OP.

Yes, it wasn't mentioned but we know that Paypal was accepting Bitcoin and there are too many users of Paypal. If Paypal's subscribers will keep growing there's a high potential that the awareness of those subscribers towards Bitcoin will keep increasing too. If you will see on the announcement, these incentives of invites people will become widely popular with Bitcoin and that's the time that we may consider Bitcoin will become more well-known worldwide, in fact, we're already on the mainstream.

This will give a positive effect on Bitcoin price or the entire crypto market, expecting a bullish trend after this.

GreatArkansas

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Paypal will adapt what's current trend just like cryptocurrency or they will start to rot. There are lot of people who are glad when they can start to buy Bitcoin in Paypal.
And recently, there are some exchanges that you can use your Paypal funds to buy crypto directly in the exchange or fund your account, FTX exchange already have this.
Paypal have lot of customers, so if most of those customers will get introduce with cryptocurrency, then much better.

Dutchyyy

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PayPal confirmed in a press release today that it will acquire the Israeli cryptocurrency custody service Curv in the first half of 2021.

PayPal is committed to advancing cryptocurrencies according to
Jose Fernandez da Ponte of PayPal, who heads the newly formed cryptocurrency and blockchain unit of the payment giant, also praised the talent involved in the startup.

Here is what he said: "Acquiring Curv is part of our effort to invest in talent and technology to realize our vision for a more inclusive financial system. During our conversations with the Curv team, we were impressed by their technical talent, entrepreneurial spirit and thinking behind the technology they have built over the last few years. We are pleased to welcome the Curv team to PayPal. "

reelstuff

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I looked at the paypal crypto offering and while it is interesting, there are a few things that are a "Turn off" they use a padding system, which inflates the cost, (understandable to a degree) but you cannot move your bitcoin away from paypal. (at least right now) You can sell it, but the same padding reduces the sell price, so it's not really something that you could really use to make any kind of profit. When I checked it out, the spot buy was 48973, I checked paypal buy price, 52,745 So they were offering a $10 credit if you made a minimum purchase, up to 100
So I decided to what the heck I will just try it out, but by the time that I got the screen loaded to do a buy, the buy price went up to 53,800 So I checked the spot buy again and it was 49113 Didn't make a buy because the process just felt wrong.

pinggoki

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Actually even though PayPal didn't do it, bitcoin is in the mainstream right now and we are clearly seeing the hype of it in every people out there. How can I say so? Simply because it is in the mainstream due to the high price of bitcoin and that's would be one of the very interesting part of it but this PayPal will make bitcoin more interesting and mainstream as many people will also try to invest in here because a legit platform is also introducing bitcoin.

aoluain

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I cannot see anything about Bitcoin from the OP.

To answer the thread title, yes Paypal will be a big player in Bitcoin.
Its only a matter of time before they offer their Bitcoin services globally,
expanded from US customers.

Bitstar_coin

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Give credit where it is deserving right! Can't deny the PayPal announcement invoke a movement in the crypto space which also affect price positively, in my mind, btc already mainstream, anyways, the website does look very inviting enough to attract the elite to take part in the crypto journey.

remotemass

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Topic: Will Paypal make bitcoin mainstream? The website makes me think so... (Read 417 times)