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Title: Paypal launches an Ethereum-based Stablecoin! Post by: GateioExchange on August 09, 2023, 09:07:01 AM Paypal launches an Ethereum-based Stablecoin! Here's the low-down:
Pros: 1) Adoption potential for crypto among "normies" 2) Interact with Ethereum DeFi 3) Can be used at Paypal checkout window of websites Cons: 1) Very centralized 2) Similar to a CBDC Get the inside scoop: https://www.youtube.com/watch?v=kxrnQfGUNc4 Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: siedemtrzy on August 09, 2023, 10:29:07 AM Still don't know how to feel about that. We already have a lot of stablecoin, and everyone who uses it already picked one. Those who don't use it won't need it. On the other hand, it might bring new people, but I'm not sure if centralized stablecoin is the right way to do that.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: koang on August 09, 2023, 11:54:03 AM Obviously, It doesn’t make sense to stack money, but it might make sense for payments.
But I would not use this. Accidents do happen, and they will not reimburse for their fault. PayPal can calmly freeze and take away money at any time, I don’t trust them with my crypto. Not your key, not your Money. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: fmz89 on August 09, 2023, 01:44:20 PM Paypal launches an Ethereum-based Stablecoin! Here's the low-down: people waiting for libra and get paypal instead :D sad lol, but nice adoption beyond crypto, next bullrun Pros: 1) Adoption potential for crypto among "normies" 2) Interact with Ethereum DeFi 3) Can be used at Paypal checkout window of websites Cons: 1) Very centralized 2) Similar to a CBDC Get the inside scoop: https://www.youtube.com/watch?v=kxrnQfGUNc4 pumper need new flow from several new way like this and some cryptowomen. to fueling the chart :D Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: yazher on August 09, 2023, 04:28:07 PM Still don't know how to feel about that. We already have a lot of stablecoin, and everyone who uses it already picked one. Those who don't use it won't need it. On the other hand, it might bring new people, but I'm not sure if centralized stablecoin is the right way to do that. At least we have more stablecoins that are somehow trusted than the others. I believe in a time when the crypto market is congested, most investors will badly need it. They won't gonna need to research anymore because they know that Paypal is something that they can temporarily trust with their cryptocurrencies just until when the crypto market is back to normal, and when that happens, they can quickly convert it to their desired crypto and move it to their personal hard wallet if they want. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: passwordnow on August 09, 2023, 04:43:28 PM Get to see more of them coming from these payment processors. But in fairness to PayPal, they don't land quickly in building a stable coin without having the adoption first by accepting Bitcoin, Ethereum and other cryptos on their platform.
So, it's like all set that this is together with those adoption but before, they don't allow to withdraw crypto. And everything has started to change when they've been open with the withdrawals and now with this, they've got userbase and for sure that this is going to be used by many of their users. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: eaLiTy on August 09, 2023, 05:52:14 PM ~ Every popular stablecoin in the market are centralized and you cannot trust even some of the most popular stabecoins as there is not much transparency and they are minting out coins left and right. With Paypal there will be a wider acceptance to their stable currency and with regulators trying to find ways to regulate the market, it is a welcome move as it might help in the long run. Cons: 1) Very centralized 2) Similar to a CBDC Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: mk4 on August 09, 2023, 06:36:04 PM Still don't know how to feel about that. We already have a lot of stablecoin, and everyone who uses it already picked one. Those who don't use it won't need it. On the other hand, it might bring new people, but I'm not sure if centralized stablecoin is the right way to do that. How is it bad? The more stablecoins we have, the more the competition is. And the more the competition is, the more these companies are incentivized to actually not fuck up the users of their stablecoin and to do good to be able to get more market share. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: Husires on August 09, 2023, 06:45:43 PM It is good news for Ethereum as it means more free growth and adoption as some will use this currency as an alternative to USDT which is bad news for USDT because now there is a strong competitor and has a good list of assets and thus bad news for TRON.
If it can be used to make payments anywhere that accepts PayPal, then here it will be the real game changer, although I do not expect that. Cons: 1) Very centralized 2) Similar to a CBDC Excessive centralization is a feature of this type of cryptocurrency, so it will not affect it, on the contrary, you will get better confidence than USDT. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: abel1337 on August 09, 2023, 07:30:09 PM I can imagine so many cons about paypal knowing their platform is very very centralized but I can't deny how can the pros will help the whole crypto along with the potential of new crypto users because of the paypal influence. It's ethereum base so should we expect a high gas fee on every transaction. It will be bad if potential customer suffer from high gas fee as I can see this as a niche platform for transaction payments.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: nur1labs on August 10, 2023, 03:47:35 AM they still using centralize even after release. i not make sure if this safe. cause old people better using cold wallet that wallet like this. the hot wallet is possible got attack, got robbed by owner, or controlled.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: el kaka22 on August 11, 2023, 04:33:51 AM This is definitely going to be fine for the buyer, but still not great enough for the seller. I do not think that you are still allowed to exchange it for any other stablecoin at paypal, and that's why it's tough. Paypal is way too centralized and their biggest enemy is crypto, we could send each other money from anywhere around the world and that's why we need to make sure that we can do something that will benefit everyone.
Paypal will not do that, they will do whatever works for them the best. It's better to avoid it at all costs if you could, it will not end well and you should avoid it if you could. That's how things are approached and you should be approaching it the same way without a doubt for sure. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: koang on August 11, 2023, 01:03:20 PM This is definitely going to be fine for the buyer, but still not great enough for the seller. I do not think that you are still allowed to exchange it for any other stablecoin at paypal, and that's why it's tough. Paypal is way too centralized and their biggest enemy is crypto, we could send each other money from anywhere around the world and that's why we need to make sure that we can do something that will benefit everyone. Paypal will not do that, they will do whatever works for them the best. It's better to avoid it at all costs if you could, it will not end well and you should avoid it if you could. That's how things are approached and you should be approaching it the same way without a doubt for sure. PayPal wasn't ready for blockchain transparency. Centralized company stablecoin has centralized features on the most centralized smart chain, a perfect match. The same institutions that are condemning and trying to stop the development of the crypto industry for years, unsuccessfully. Good luck to anyone using this Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: coin-investor on August 11, 2023, 09:57:10 PM I don't use Paypal anymore and I don't trust anything coming from Paypal so it's not a piece of welcoming news to me but it may add excitement to those who want to see additional good news in the market, just like what happened when Paypal added Cryptocurrency to their features.
There is news that the stablecoin can be locked and frozen it's possible because they are centralized and they always want to have control of their products and services. This new stablecoin will benefit their long-time clients mostly sellers and buyers in centralized markets. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: o48o on August 11, 2023, 10:53:32 PM Paypal launches an Ethereum-based Stablecoin! Here's the low-down: I am not sure how permissionless this will actually be, so that they can keep it regulatory compliant in eu. I think they must have same issues that why they haven't released BTC payments in eu yet (at least not in all eu countries).Pros: 1) Adoption potential for crypto among "normies" 2) Interact with Ethereum DeFi 3) Can be used at Paypal checkout window of websites Cons: Not similar to CBDC. This is a pegged to fiat money, while CBDC doesn't need to be pegged to anything but to itself, as it IS fiat money. You won't need to convert to money, it will be money, usable in everywhere.1) Very centralized 2) Similar to a CBDC Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: nelson4lov on August 11, 2023, 10:59:09 PM I don't use Paypal anymore and I don't trust anything coming from Paypal so it's not a piece of welcoming news to me but it may add excitement to those who want to see additional good news in the market, just like what happened when Paypal added Cryptocurrency to their features. There is news that the stablecoin can be locked and frozen it's possible because they are centralized and they always want to have control of their products and services. This new stablecoin will benefit their long-time clients mostly sellers and buyers in centralized markets. I'm not sure how their long-term clients will benefit from an already existing market that PayPal was late to join the club for. Why use PayPal or its centralized stablecoins when you can just use crypto and skip all the paperwork and bottlenecks that comes with it? Also, the token smart contract for the Paypal USD is written with an older version of solidity and doesn't seem to be written efficiency to reduce the gas overhead cost for users to use their stablecoin protocol. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: JeffBrad12 on August 11, 2023, 11:28:07 PM if this is legit then I guess i'd say its good, adding to the competition of stablecoin as well as giving option.
considering the fact that paypal itself is a really big financial technology company basically have been standing for so long, i'd say maybe their stablecoin just gonna be as great as the others. though honestly, the current existing stablecoin right now are already sufficient enough for the market, it just needs more transparency in regards to the reserved funds and its perfect. though i always welcome it if there's some other stablecoin gonna try out the competition. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: Wexnident on August 12, 2023, 03:55:35 AM So does this coin of theirs also allow refunds? I used to use paypal but it was so bad as a payment method for me specifically since refunds with no rhyme or reason could suddenly be approved (since most of my commissions are art/video based). It was the single most frustrating issue I've had before with paypal and that's why I used it, not sure if they fixed it though. And if they ever implement such a system since as OP said, it's centralized a f, I don't think there's any sense in even using it then.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: Kavelj22 on August 12, 2023, 05:50:12 AM This is rather good news, although it has nothing to do with cryptocurrency, except that it is the adoption of the Ethereum network to launch the currency, and Ethereum uses blockchain technology. While the currency has the characteristics of cbdc or what can be called a "digital dollar".
Literally this sentence could not be true: "Paypal is launching its own currency." Because it is a stable coin that is mainly pegged to the dollar. The currency is called PyUsd, and PayPal has commissioned Paxos to launch this currency, and this is certainly to ensure the greatest degree of transparency and compatibility with US laws. This is not yet clear if all Paypal users will enjoy the service, or if it will be limited to citizens in the United States. Also, there are no clear details yet as to whether this currency can be used outside the Paypal system, that is, if it is in circulation. Some detailed news announcement as reported by CNBC (https://www.youtube.com/watch?v=y_3ZbTqX9Gc). Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: JunkieMiner on August 12, 2023, 09:36:07 AM If we think that centralized coins would help inside the PayPal, I didn't understood the concept fully by the post, and the stablecoin, which launches PayPal is also in the etherium chain? That could be helpful in future if if really works.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: Jating on August 12, 2023, 10:53:44 AM Yes, still good news, at least Paypal doesn't want to be left out in this competition and maybe this is their first step, to have a Ethereum based stablecoin. And I think one of those who are going to benefit from it is obviously those Paypal users.
I haven't check their stocks though, if it did bring some good news and pump the price. But in any case we have to wait what will happen here. Perhaps this is just a experiment on their end and see how adoption is in the next couple of months to say that this is a success or not. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: fzkto on August 12, 2023, 11:12:39 AM Yes, still good news, at least Paypal doesn't want to be left out in this competition and maybe this is their first step, to have a Ethereum based stablecoin. And I think one of those who are going to benefit from it is obviously those Paypal users. I think it's more hype than good news. I don't know if many people will use their service if there are many other stable coins. I think it is much more convenient for people to use other services for this purpose. I remember when the news that Pay Pal added bitcoin had a good impact on the market. But then this news somehow went quiet. Maybe it will be the same now.I haven't check their stocks though, if it did bring some good news and pump the price. But in any case we have to wait what will happen here. Perhaps this is just a experiment on their end and see how adoption is in the next couple of months to say that this is a success or not. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: legendbtc on August 12, 2023, 12:12:30 PM This does not benefit us or the crypto industry in any way, what Paypal is doing is just for the profit they are aiming for. As far as I know, companies that have issued stablecoins are making significant profits and that's what Paypal is looking for, nothing more and nothing less. But what makes me funny is, no one told them that using the ETH network will have very high transaction fees and I think many people will not use their stable coin with the expensive transaction fees that the ETH network causes.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: www.Gambler.Casino on August 12, 2023, 02:17:32 PM I trust USDT, I consider everything else unnecessary
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: South Park on August 13, 2023, 09:39:27 PM This does not benefit us or the crypto industry in any way, what Paypal is doing is just for the profit they are aiming for. As far as I know, companies that have issued stablecoins are making significant profits and that's what Paypal is looking for, nothing more and nothing less. But what makes me funny is, no one told them that using the ETH network will have very high transaction fees and I think many people will not use their stable coin with the expensive transaction fees that the ETH network causes. PayPal just took the laziest approach they could have taken when developing their own stable coin, I mean they could have created their own blockchain and let their coin run above it, but they refused to do so and we need to question ourselves why that was the case? And I think this is because they know that if they did this then even less people will use their coin and if there was hack they will be held responsible for it, so they just decided to take the easy way out and release their coin over the ETH network.Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: JeffBrad12 on August 13, 2023, 11:12:27 PM This does not benefit us or the crypto industry in any way, what Paypal is doing is just for the profit they are aiming for. As far as I know, companies that have issued stablecoins are making significant profits and that's what Paypal is looking for, nothing more and nothing less. But what makes me funny is, no one told them that using the ETH network will have very high transaction fees and I think many people will not use their stable coin with the expensive transaction fees that the ETH network causes. i don't really think issuing stablecoin means massive profits at best its just really small profits that they get but the fact that they got the capital, so it might increase the profit significantly.the fact that they deployed their token in ethereum doesn't necessarily means it will stay in ethereum forever either, they are just trying to get into the most popular blockchain. then after that they could easily just deploy the token in the other blockchain. its the same with the other stablecoin out there, they always starts out from ethereum then the other blockchain. they are trying to build the system first. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: nur1labs on August 14, 2023, 05:20:09 AM This does not benefit us or the crypto industry in any way, what Paypal is doing is just for the profit they are aiming for. As far as I know, companies that have issued stablecoins are making significant profits and that's what Paypal is looking for, nothing more and nothing less. But what makes me funny is, no one told them that using the ETH network will have very high transaction fees and I think many people will not use their stable coin with the expensive transaction fees that the ETH network causes. PayPal just took the laziest approach they could have taken when developing their own stable coin, I mean they could have created their own blockchain and let their coin run above it, but they refused to do so and we need to question ourselves why that was the case? And I think this is because they know that if they did this then even less people will use their coin and if there was hack they will be held responsible for it, so they just decided to take the easy way out and release their coin over the ETH network.they will grab our money pocket soon as possible. this bad news maybe cause people maybe think crypto bad casue paypal releases. I hate to say.....say no to paypal. i better using cold wallet than put there and make them trick us. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: gurunanakji777 on August 22, 2023, 06:27:02 AM PayPal is well aware of the upcoming role of cryptocurrency in the future. This understanding has prompted them to shift their perspective. Given PayPal's strong reputation and credibility in the market, its stablecoin is likely to gain a prominent position due to the trust associated with the PayPal brand. While people might not place the same level of trust in other stablecoins, PayPal's established reputation sets it apart. It's reassuring to see that PayPal has introduced its own stablecoin based on the Ethereum platform.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: o48o on August 22, 2023, 11:17:13 AM I trust USDT, I consider everything else unnecessary Well that's pretty strange argument. While i trust USDT most of them all, i feel that giving a monopoly to one centralized stablecoin is a dangerous road to take. There should be competition so that people would have options and to reduce any blowback of potential depegging of USDT. Consequences of that potential serious failure of USDT would already be devastating, but imagine USDT being the only one. It would be a killing blow for the markets and it would get years to get back where it's now. Not to mention how many people would lose everything. I mean they could potentially get some of it back later via lawsuits, but that wouldn't be a fix. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: South Park on August 25, 2023, 09:18:35 PM I trust USDT, I consider everything else unnecessary There is a reason why monopolies are a bad idea, once a company has complete control of a market they can do whatever they want and get away with behaviors and policies that were impossible for them before, and in the case a new competitor emerged they could crush it early on by lowering their price to ridiculous levels, and accept losses for years just to bankrupt their competitors and regain complete control of the market, so even if you trust USDT, having more options for those that like stable coins is not a bad idea.Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: poodle63 on August 26, 2023, 12:58:51 AM gonna be even more good if they could deploy their stablecoin in various blockchain since many other have done exactly that, at least we have one more option now to diversify our wealth and assets.
if something like the fall of tusd happening again, then we can be assured that only fraction of our wealth gonna be affected since each stablecoin have their own reserved and probably be audited by professionals nowadays. but i wonder if paypal gonna truly disclose their reserve for their upcoming stablecoin, after all thats what exactly the others are doing right now. I trust USDT, I consider everything else unnecessary its not gonna hurt to have the other option though, meaning it makes less sense for some stablecoin providers out there to just print their stablecoin at their will because if it causes implication people would easily just moving on from these token.Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: nur1labs on August 27, 2023, 01:39:00 PM i still not agree that company like paypal hold blockchain models. they will manipulate the market. possible the small market will impact. this unexpectable moves. i hope they fail like facebook projects. i not like manipulator company.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: Hispo on August 27, 2023, 01:47:22 PM One of the only advantages I see in this stable coin being launched is the possibility of transferring one's money from an exchange to Paypal in order to buy good and services which accept Paypal but do not accept crypto.
Though, we all could argue that his measure by Paypal could de-accelerate Bitcoin/crypto adoption rather than making it more widespread among the regular internet user. Let us see if Binance or Coinbase decides to support this coin or not, otherwise there won't be anything to offer to the average exchange user. If the SEC has a minimum of fairness, then I would expect them to sue Paxos again because of the launch of Paypals Stablecoin, pretty as they did with BUSD. ::) Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: fzkto on August 27, 2023, 03:26:45 PM i still not agree that company like paypal hold blockchain models. they will manipulate the market. possible the small market will impact. this unexpectable moves. i hope they fail like facebook projects. i not like manipulator company. I think that this project will not be very popular. Once PayPal added cryptocurrencies to their service, but I haven't heard that it was popular. Probably it will be the same with stablecoin. It is much easier to use usdt.Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: Xal0lex on August 27, 2023, 05:28:35 PM Paypal launches an Ethereum-based Stablecoin! Here's the low-down: PayPal is in its third year of trying to integrate into the crypto business by creating various toxic products and services. First they tried to convince everyone that it's okay to store their cryptocurrency on custodial wallets, and now they offer a completely centralized stablecoin, which has a blacklist worse than Tether. It's a shame that this is what Adoption looks like, by forgetting all the basic principles of cryptocurrency. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: gabbie2010 on August 27, 2023, 09:38:02 PM Paypal launches an Ethereum-based Stablecoin! Here's the low-down: It's a welcome development for freelancers and people who buy who are usually paid with PayPal after offering some services but has some issues in the process of exchanging it to fiat but with the introduction PayPal stable coin which is invariably a crypto coin which would definitely be adopted by many exchange giving ample opportunities for the hodlers to exchange their coin to Ethereum or other cryptos, though being a centralized stable coin makes it untrustworthy but to be on a safer side it's better to exchange it to a reliable and trusted crypto such as Ethereum, Moreso many online sales outlets would also adopt PayPal stable coin as their payment gateway thus enabling or attract more crypto enthusiast to patronize their goods and services.Pros: 1) Adoption potential for crypto among "normies" 2) Interact with Ethereum DeFi 3) Can be used at Paypal checkout window of websites Cons: 1) Very centralized 2) Similar to a CBDC Get the inside scoop: https://www.youtube.com/watch?v=kxrnQfGUNc4 Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: goaldigger on August 27, 2023, 09:49:13 PM i still not agree that company like paypal hold blockchain models. they will manipulate the market. possible the small market will impact. this unexpectable moves. i hope they fail like facebook projects. i not like manipulator company. Big investors are here for a reason and we cannot stop them from doing this as they all have the resources to buy and create a project under cryptomarket.We need fresh money from investors and if you didn't like this, then better not to support their projects. They will only fail if there's a government intervention but if they will get the approval for sure they will succeed on this. Having a stablecoin for a specific purpose is fine, but I also don't like stablecoin because they are not stable at all, let's just see if Paypal will succeed on this and utilize more of this. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: JeffBrad12 on August 27, 2023, 11:18:36 PM i still not agree that company like paypal hold blockchain models. they will manipulate the market. possible the small market will impact. this unexpectable moves. i hope they fail like facebook projects. i not like manipulator company. I doubt they will have the capability to manipulate the market, we are talking about near trillion market capitalization here. manipulating with a mere one stablecoin will definitely prove to be hardsince what they need to manipulate the entire market is definitely money and huge chunk of it. if they truly able to manipulate the entire market people will also know, thats why i don't think they will really manipulate the market, at best they are just trying to get into the market and make profit off the stablecoin and thats it. you truly overestimate paypal in this case. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: kamvreto on August 28, 2023, 04:16:42 AM i still not agree that company like paypal hold blockchain models. they will manipulate the market. possible the small market will impact. this unexpectable moves. i hope they fail like facebook projects. i not like manipulator company. I doubt they will have the capability to manipulate the market, we are talking about near trillion market capitalization here. manipulating with a mere one stablecoin will definitely prove to be hardsince what they need to manipulate the entire market is definitely money and huge chunk of it. if they truly able to manipulate the entire market people will also know, thats why i don't think they will really manipulate the market, at best they are just trying to get into the market and make profit off the stablecoin and thats it. you truly overestimate paypal in this case. This will be a fun initial FOMO for sure When PayPal has their own stablecoin. Whether it's manipulation or not, it's difficult to fully manipulate the market, The crypto ecosystem has a wide scope and Paypal only uses a part of it. As a newcomer to the world of stablecoins, PYUSD will be faced with important questions about how it will impact the digital financial ecosystem and how it can stand out from the competition with other stablecoins. One of the main advantages offered by PYUSD is a more seamless integration with fiat currencies and the digital world. We'll see what effect PYUSD has when it starts to enter the crypto market, this will be a good FOMO moment of course. Just take advantage while it can be profitable. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: devil-soul on August 28, 2023, 07:17:33 AM A stable coin issued by paypal therefore completely centralized, therefore paypal can freeze and disable the various accounts, it does not inspire confidence at all, the saying always applies not your keys not your money however it does not seem to have much success around 90 % of supply is still available
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: jaberwock on August 30, 2023, 02:05:50 PM PayPal is well aware of the upcoming role of cryptocurrency in the future. This understanding has prompted them to shift their perspective. Given PayPal's strong reputation and credibility in the market, its stablecoin is likely to gain a prominent position due to the trust associated with the PayPal brand. While people might not place the same level of trust in other stablecoins, PayPal's established reputation sets it apart. It's reassuring to see that PayPal has introduced its own stablecoin based on the Ethereum platform. What upcoming role? I think nothing have changed. The role of crypto is still a payment method. Also Paypal themselves are not new on this either. They even adopted Bitcoin last time but I think that was only on selected countries. It is seems they can't get enough and they want to add more. Well that's alright and it's a good help for their customers to get introduced in these cryptocurrencies.If there are people who are happy and satisfied on using Paypal, there are also people who experience the opposite thing and even these people are also into crypto, I don't think they will touch the cryptos created by Paypal. They already learned their lesson. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: iv4n on August 30, 2023, 06:39:54 PM A stable coin issued by paypal therefore completely centralized, therefore paypal can freeze and disable the various accounts, it does not inspire confidence at all, the saying always applies not your keys not your money however it does not seem to have much success around 90 % of supply is still available I saw some programmers posting some codes about PayPal coin, suggesting that transactions can be reversed. I will avoid "PayPal anything" in a wide circle, they are not reliable, simply as that. And we have better alternatives. PayPal could have entered crypto many years ago, in a much better way... maybe because of laws and regulations they couldn't, but whatever it is it's too late for them now I think. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: TastyChillySauce00 on August 31, 2023, 12:03:08 AM A stable coin issued by paypal therefore completely centralized, therefore paypal can freeze and disable the various accounts, it does not inspire confidence at all, the saying always applies not your keys not your money however it does not seem to have much success around 90 % of supply is still available What's different with the stable tokens that already exist now? Paypal stable token issued on ethereum blockchain same as another stable token in the market but people were calling non paypal stable token as decentralized stable token while paypal was decentralized. It's the weirdest thing that i have ever seen. Everything about stable tokens are remain centralized. There was no true decentralized stable token at this moment. USDT and another stable tokens can also do the same thing like what paypal did. Stable tokens will remain as centralized product by entities. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: cantraun18h on August 31, 2023, 01:58:23 AM I really don't understand the significance of PayPal launching a stablecoin. They seem to be making their payment system more complicated than it already is.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: justdimin on August 31, 2023, 05:04:11 PM What upcoming role? I think nothing have changed. The role of crypto is still a payment method. Also Paypal themselves are not new on this either. They even adopted Bitcoin last time but I think that was only on selected countries. It is seems they can't get enough and they want to add more. Well that's alright and it's a good help for their customers to get introduced in these cryptocurrencies. I would guess that because Paypal has always been a payment company, they are trying to make sure that they are using crypto as a payment too. One thing I really would love to see is them making sure that you can deposit and withdraw this currency as well. I am not sure if you can do that just yet, but if you can do that, then people who can't use Paypal would be able to start using it, this way we would all be able to accept Paypal payments easily.If there are people who are happy and satisfied on using Paypal, there are also people who experience the opposite thing and even these people are also into crypto, I don't think they will touch the cryptos created by Paypal. They already learned their lesson. I hate the chargebacks and all the financial troubles you go into, I may end up selling a product, and the person can easily do a chargeback, and that means I would not have the product AND the money and I would also owe the transaction fee as well, that's what needs to be stopped. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: o48o on August 31, 2023, 06:11:18 PM A stable coin issued by paypal therefore completely centralized, therefore paypal can freeze and disable the various accounts, it does not inspire confidence at all, the saying always applies not your keys not your money however it does not seem to have much success around 90 % of supply is still available So, just like usdt then? They can freeze usdt too. I am not sure why people single out paypal's stablecoin as centralized. One would think people would be thrilled that they can move money from binance to paypal and back without using any normal bank accounts. Ok it doesn't fit to decentralized ideology of cryptos, but neither does usdt. Yet we wouldn't be so high without it. Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: wheelz1200 on August 31, 2023, 06:17:53 PM Unnecessary and PayPal just trying to catchup in today's world. They know they are the blockbuster of payments and their time will be over soon if they don't adapt. I don't trust this nor wouldn't use it we already have solutions. Wasn't too long ago they were closing accounts of people who used PayPal for crypto stuff. Full circle.
Title: Re: Paypal launches an Ethereum-based Stablecoin! Post by: Blitzboy on September 01, 2023, 11:17:07 AM What upcoming role? I think nothing have changed. The role of crypto is still a payment method. Also Paypal themselves are not new on this either. They even adopted Bitcoin last time but I think that was only on selected countries. It is seems they can't get enough and they want to add more. Well that's alright and it's a good help for their customers to get introduced in these cryptocurrencies. I would guess that because Paypal has always been a payment company, they are trying to make sure that they are using crypto as a payment too. One thing I really would love to see is them making sure that you can deposit and withdraw this currency as well. I am not sure if you can do that just yet, but if you can do that, then people who can't use Paypal would be able to start using it, this way we would all be able to accept Paypal payments easily.If there are people who are happy and satisfied on using Paypal, there are also people who experience the opposite thing and even these people are also into crypto, I don't think they will touch the cryptos created by Paypal. They already learned their lesson. I hate the chargebacks and all the financial troubles you go into, I may end up selling a product, and the person can easily do a chargeback, and that means I would not have the product AND the money and I would also owe the transaction fee as well, that's what needs to be stopped. [/quote Your suggestion about chargebacks is great; they are a nuisance, and your complaint is actually justified. Although Paypal's entry into the cryptocurrency space appears to be a development of their business, its possible that they are merely trying to ride the wave without fully committing. The true utility, according to one argument, would be in depositing and withdrawing cryptocurrency rather than just keeping it in a flashy digital wallet. Its interesting how you bring up allowing those who cant use PayPal. Although I've always believed that, in the larger scheme of things, Paypal can occasionally be a bit rubbish, it would be a wise move. Chargebacks are a major problem, as you pointed out. Consider yourself without your merchandise, short on cash, and subject to a transaction fee. There you have a triple whammy. On the other hand, given that blockchain is irreversible, adopting technology into their services might solve these problems. Will they, though? Time will only tell. Consider the question, "To Paypal or not to Paypal?" while we wait. |