Bitcoin Forum
May 28, 2024, 09:30:47 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: This what the paypal CEO said years ago about Bitcoin  (Read 157 times)
Vishnu.Reang
Sr. Member
****
Offline Offline

Activity: 1974
Merit: 453



View Profile WWW
December 28, 2020, 12:27:24 PM
 #21

On the contrary, it is very hard for the vast majority of folks to understand the actual motives behind PayPal's decision to integrate bitcoin into their platform. They consider that it is through centralized platforms of the fiat system bitcoin will be widely adopted. This is a common misconception, bitcoin doesn't need PayPal to be efficient and widely used. It can and should be used as an independent payment system without any additional intermediaries. PayPal understands this and is trying to create a system in which it will be necessary to ask permission in order to use bitcoin. What they do is take a decentralized sovereign payment system, integrate it into the platform, and impose all sorts of restrictions. They make it so worthless and inefficient that users will likely avoid using it whatsoever.

PayPal doesn't need Bitcoin, and similarly Bitcoin doesn't need PayPal. But a healthy relationship between the two can be mutually beneficial. For the vast majority of the ordinary people, purchase and storage of Bitcoin is a big headache. PayPal simplify these two aspects and ordinary people are able to purchase Bitcoins with their PayPal balance or credit card for the first time. Restrictions will be there, and that's the reason I believe that the vast majority of the PayPal Bitcoin users will move their coins to personal wallets after sometime.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!