Bitcoin Forum

I'm sure we all heard the rumor by now I will believe it when I see it, but it would be pretty cool to have friends venmo you some BTC!!! or BTC friends and family paypal payment option :D Im not sure how this unfolds but It is a good start for all the nocoiner friends of ours to see bitcoin as a payment option on paypal or venmo. I hope there is some truth to the rumor just to have more widespread adoption. Although screw the middleman always taking a cut of our money! That would be some real irony having bitcoin being used and some third party taking a cut :'( But every company takes a cut in fees or whatever so be it I guess. I'm looking forward to hearing your opinions on this

I think the crucial word is Rumour -‘ three people familiar with the matter’ !
Here’s the full link

https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling

Personally I can’t see it happen

And they are currently looking to hire crypto engineers:

https://cointelegraph.com/news/paypal-is-hiring-crypto-engineers-amid-rumors-of-bitcoin-integration

I've been a Paypal user for almost a decade in receiving salaries for my work. However, due to their ridiculous high fees, I stopped using them as option for receiving payments (except when buying plane tickets from local flight carriers for most of the past two years).

A couple of years ago, Paypal CEO claimed that Bitcoin is the biggest scam in history due to the pump and dump scenario:

https://www.forbes.com/sites/ktorpey/2018/04/24/founding-paypal-ceo-bill-harris-says-bitcoin-is-a-scam-heres-why-hes-wrong/

How funny that he threw off the hat and now considering to welcome Bitcoin and cryptocurrency in open arms.

We already have a topic for this, here: Topic: 325 million new potential users https://bitcointalk.org/index.php?topic=5257445.0

paypal hates btc since time but its really interesting what they'd be doing with this blockchain engineer to turn it into thier gain.

it could be that they will allow BTC users to sell their Bitcoin and they'd send paypal USD to these users but not allowing paypal users to buy BTC. this could just be what the case, they are just going to be collecting BTCs.

My main concern is whether people will be able to withdraw their coins or not. Skrill did the same thing a few months back, but no one is really using that, mainly because they give people access to their crypto, not outside of their platform anyway.

PayPal should never, ever integrate crypto (if this is ever gonna happen) because then, centralization at mass level will take place which means that the limited control that we have, of our coins, will be stolen and we won't be able to do anything for that. It's better if PayPal sticks to its old mentality about cryptocurrencies and BTC.

I wonder how they are going to play that out since  Skrill failed on this one, but let's give Paypal a chance this is a huge company, they will eventually join this technology, they failed on the Libra project, now they want on on their own, the number of users is so huge it looks like a big pump coming because of this news, not a rumor anymore.

yes why not. give them a chance.  there is a similar chance that chainlink can provide which is their oracle. i hoping they were requiring the engineer because of chianlink feature which could handle what they can with a smartcontract. the creativity will work here so its up to them how they can make people happy with their smartcontract.

That would be the main concern and if this one turns out to be an another custodial one and wont really give out that access then it will still surely fail or wont really get any users at all.
Its really quite surprising that Paypal do now recognized nor do reconsider on integrating things which they do basically know that crypto itself is fully contrary into its service or
they are just tending to dive in on how crypto payment looks like or make them to earn money.

That was the old PayPal CEO. He's no longer with the company and they hired a Bitcoin enthusiast in his place.

This shows how with new technologies the old must go for the new to be accepted. Old farts don't like changes.

https://cointelegraph.com/news/paypal-ceo-hodls-bitcoin-and-only-bitcoin

Getting some lines in the article:

"PayPal’s CFO John Rainey said in May that the firm has teams that are working on blockchain and cryptocurrency, and that they wish to participate in that technology in whatever form it takes in the future. "
source: https://cointelegraph.com/news/paypal-ceo-hodls-bitcoin-and-only-bitcoin

and now they are already trying to pursue that thing which is a good news for me.

I think they noticed that square made like 300 million in profits since having BTC available on their app. Paypal and others will follow they can't resist potential profits regardless if they like bitcoin or not.

I'll believe it when I see it. Facebook didn't have much luck last time around and I highly doubt the fine folk in congress will allow PayPal to start selling digital currencies.

I heard about this rumor yesterday, i spent 2 hours of my time researching if the rumor was true and i find out that Dan Schulman (Paypal CEO) dont take back his previous statement about Bitcoin but he respects the trend bitcoin hold when the economy meltdown was severe.

I agree, but in the long run, perhaps they thought that they can make more money by using bitcoin's name and create a lot of noise, that's why they finally decided to get their nose on it and to look that they are pro-crypto after-all.

We have seen a lot of haters few years ago, but they are changing their tune. Perhaps there are really a big demand on the market, no it's a win-win situation for them.

The idea of ​​paypal is only to adapt to the market. Since some months ago revolut and hype have already implemented the possibility of buying BTC and keeping them in their wallets. I think he's a wallet costodian like revolut's wallet, so you can only buy them, sell them, possibly spend them but not move them.

Yeah, and there's more coming from other users lol.


I think that's what's paypal planning to do, to be a third-party wallet application for Bitcoin users. To be honest, I only see one advantage and a lot of disadvantages. The advantage is that they might make an on-chain wallet which would make transactions fee free or at least cheaper from wallet to wallet (paypal users only) but the disadvantages are it's just a normal paypal wallet, they can do whatever they want if they found some slight issues in it. They can ban you or prohibit you from their services, heck they might even prevent you from moving your own money if they think that it's "Dirty" money. You don't control your own Bitcoin.

I don't know much though because this are just "rumors". We can only speculate.

i said this on Reddit too, i think all those who are believing this rumor are most probably going to be very disappointed soon as Paypal reveals their very own shitcoin which is based on bitcoin instead of adopting bitcoin itself. after all they are looking to make profit and nothing is as profitable as creating your own pre-mined shitcoin and controlling it 100% since it is going to be centralized.

If the rumor turns out to be executed, it will be a big win for bitcoin, because many persons will then to expose to cryptocurrency, although one's account can be locked by Paypal that is centralization. This will set out a swift competition among fintech.

I think it's true as many sources are quoting towards it but it's not a surprise. Many payment gateways like Skrill and Payeer had already integrated cryptocurrency and Paypal would not want to lose it's customers for not allowing them to buy and sell crypto. But it also doesn't mean that their would be any change on ho Paypal would operate.

There is a background of truth in this entry, and the more days pass, the more news you find! after the great success of Square, he set in motion an economic problem that paypal cannot stop, but 20 years after his birth he is faced with a competitor who could steal a lot from the market, that's why this rumor! and I believe that paypal will soon give its 325 million users the opportunity to buy and sell bitcoins

Bitcoin is not meant to function with the help of PayPal as a middleman. If your friends and family wants to make use of cryptocurrency there are wallets that they can download to their smartphones such as Blockchain wallet, coinbase, BitPay and so many of them that can help them send and receive BTC whenever they want.

And moreover I don’t think that PayPal will like to allow people to send Bitcoin using their app. They rely on the fees they charge for transaction to be able to make profit and they wouldn’t be able to do that with Bitcoin. So they are not going to add an option for Bitcoin on their app. For them to add it, there would probably be a way for them to make profit from it.

I don't see paypal ever accepting bitcoin on to its platform, there really is no upside for them to do so.  Paypal is a filthy scummy company and I would never trust them with my bitcoin even if they did ever bring it on their platform.

You are not entirely wrong, but as happened in Italy with Hype which is part of Banca Sella, they implemented the blockchain directly on their banking app, where you can buy and sell bitcoins and send and receive them. So I think it is entirely possible that paypal could enter the cryptocurrency market! only time will tell if there will be a rumor or it will come true

When a new person learns about Bitcoin, the first question they ask is how can I buy some bitcoin with Paypal. People are still doing buy and sell of bitcoin and altcoins with Paypal but it has it's own risks. Many fraudulent traders were intentionally creating a dispute an Paypal was making a decision on their favor claiming they can't verify that the trade did happen. With this, Paypal buying and selling of crypto would be safer.

How i wish it is true as well because i am spending more for transaction whenever i need Paypal and i am paying Bitcoin.

For several time i think i lose 10-20% everytime i need to buy paypal using my coins.
compared if i send Money to my friend in US.

if this becomes active in the coming days?i will be glad to continue my Business in US to my country.

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Anyway is there some links where i can find this news?if there is truth behind this or just a Humor only.

Once Paypal already announced this properly this point would be very useful, as every problem
regarding to this issue will properly escalated.
It's a good sign for people who are mostly dealing business online, trading and buying crypto using
this platform would be much easy and convenient.
Proper announcement is much anticipated for this news, once the team formally announce their
participations movements from the market will be there.

People are getting all excited over nothing, they should actually be sad about this news. PayPal are hiring Blockchain engineers to develop their own Blockchain technology and their own token ....this token will take a major market share of people invested in Bitcoin, because it is linked to PayPal and thus more convenient for people to use. (just speculation at this stage)

Even though Bitcoin is more widely used, companies like PayPal will develop their own Crypto currency for this simple reason .. Control. They want full control over the tokens and the mining and the decisions on forks and changes... they not going to wait for months to push through a fork, whilst different groups are fighting over changes that needs to be done. (like with the BCash fork fiasco)

PayPal to Reportedly Support Cryptocurrency Direct Transactions

PayPal plans to roll out its crypto offering “in the next three months, maybe sooner.”

https://www.financemagnates.com/cryptocurrency/news/paypal-to-reportedly-support-cryptocurrency-direct-transactions/

The speculation is very promising and worrisome at the same time, I do think that we should be happy with this news that they are integrating blockchain to their apps. This might not play out as these company might project I hope because bitcoin has been here longer and even if they create a token, it does not matter because even people from every walks of life whenasked what is cryptocurrency, they will surely speak about bitcoin, some might not and some might say but the popularity of bitcoin can't be surpassed for now.

Do we really take these private centralized blockchains seriously, there is no security in these private blockchain, if they build those on top of bitcoin then we might say that they have the security and it is a legit ledger, if not there is no point in having those as it is not a trust able ledger. The companies that want to jump into the blockchain bandwagon can fool some people for a while but not all the time.

You want to use Bitcon as an investor, any investment that brings you profits, you can use it, but bitcoin is completely independent of paypal.
Paypal will not accept payment or conversion in cryptocurrencies until after the issuance of central digital currencies such as the Chinese yuan or the US dollar.
times will add more strong services than paypal
Current cryptocurrency formulas are not suitable for these companies.