Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[philipma1957]

Where is the crypto section on Paypal?  I can't find it.  I am logged into my business account.  Does that matter?  I am in USA.

I was linked via my email. I am usa based.

My purchase and my new look account page

[aesma]

[julian071]

My daughter just suggested having the 100k-party literally on the moon. I explained that would be to expensive, but maybe my old brain is just not thinking big enough....

[aesma]

About Paypal, I used to use it as an eBay seller. However the fact people could claim that they didn't receive what I sold and get the money back was really annoying. It would suck if you would sell BTC to someone and then PayPal takes your money back, but you can't get the BTC back...

[rolling]

Has anyone thought about the fact that there will probably be no network fees when you buy something with bitcoin using PayPal?

Bueller?

Well, based on the screenshots from philipma1957, "Cryptocurrencies cannot be used to send money or pay for services on PayPal." So I am guessing, no network fees.

[cAPSLOCK]

Has anyone thought about the fact that there will probably be no network fees when you buy something with bitcoin using PayPal?

Bueller?

Yup. Fees will be higher. So far everything points to your having to buy your 'Bitcoin' inside Paypal first, which has another fee on top. They don't want anything to do with your own actual Bitcoin. Far too messy.

This reminds me of a pet shitcoin that doubled in price on the basis of a sliver of news that was totally misinterpreted. When everyone figured out a few hours later they'd been duped straight down it went again.

I think I disagree.

Reason being, PayPal cannot take the risk of letting you hold a synthetic version of something for which they do not have a real one of.

What happens when 1000 people buy .1 btc today, and try to "cash out" in a year after a 10x.

Another way to put it... I do believe we will see some player in the fintech space be absolutely brought to their knees because they decided to get too fancy with fractional reserve and rehypothecation. That's gonna suck... and I am almost sure it happens.

This does not happen with gold because even though gold is a bearer asset, it is being "born" by world government primarily so the risk is muted.  But not only can people SPEND bitcoin, they can also "withdraw" it.  And even if they can't withdraw to self custody, they WILL be able to sell for fiat and withdraw.

The first folks to die on that hill will set the bar.

[philipma1957]

Has anyone thought about the fact that there will probably be no network fees when you buy something with bitcoin using PayPal?

Bueller?

Well, based on the screenshots from philipma1957, "Cryptocurrencies cannot be used to send money or pay for services on PayPal." So I am guessing, no network fees.

I did a screen shot every step of the way.

me like this one.




new balance page is nice.

[stoat]

so paypal is holding your coins?

how do you withdraw to your own wallet?

[rolling]

https://www.paypal.com/us/smarthelp/article/cryptocurrency-on-paypal-faq-faq4398

Can I transfer Cryptocurrency into and out of PayPal?
Currently, you can only hold the Cryptocurrency that you buy on PayPal in your account. Additionally, the Cryptocurrency in your account cannot be transferred to other accounts on or off PayPal.

Will I get a private key for the Cryptocurrency I buy on PayPal?
You own the Cryptocurrency you buy on PayPal but will not be provided with a private key. In case you are wondering, a private key is a person's secret code to access and manage their Cryptocurrency. If lost, stolen, or even forgotten they can never get to their Cryptocurrency again -- pretty risky in its own right. If you can log in to your PayPal account, you will have access to Cryptocurrency balance you hold.

Can I use my Crypto assets as a funding source to pay merchants?
No, users cannot use Crypto as a funding instrument for commerce at this time, though this is planned for 2021. Crypto assets can only be bought, sold, or held in the PayPal wallet at this time. To pay merchants or complete P2P transactions with PayPal, all Crypto assets held with PayPal must be sold and converted into USD.

[Last of the V8s]

^ yeah, no

[gentlemand]

I think I disagree.

Reason being, PayPal cannot take the risk of letting you hold a synthetic version of something for which they do not have a real one of.

They have a Bitlicence. This must mean there WILL be real crypto backing it. No freaking way they're letting you anywhere near it though.

Still, the Bitlicence detail is a positive thing.

[stoat]

well thats a bit shit then isn't it.

[stoat]

do they charge fees to transfer to another paypal account?

[rolling]

https://www.paypal.com/us/smarthelp/article/how-do-i-get-started-with-cryptocurrency-with-paypal-faq4400

Here’s how to purchase Cryptocurrency with PayPal:
Go to the PayPal App home page and Tap or Click on the Crypto promotional tile Learn More or More (from Home screen in-app or Summary page on the web).
From the Crypto landing page, select the Crypto currency you would like to buy.
Click Buy. You may have to confirm your account.
Enter the amount you would like to buy.
Choose a payment method.
Select Buy.

[philipma1957]

I purchased the $20 usd to show how and to see the rules.

MY guess is they may allow it to move one day to Coinbase


That then allows for withdraw to your wallet.


This PayPal is to let people  get into market "painlessly" so to speak.

"as to how locked the coins are it does not matter 1 bit as long as you know they are locked into the account and as long as you are smart enough to not put all eggs into one basket."

Ie:

 I have 2 btc in my PayPal account and it was frozen = so what don't you have 20 coins in your own wallets?

[bct_ail]

Sorry. But why are you so happy about paypal? That means KYC. That means no use of mixer. Bye bye privacy. What is so fucking cool about that?

[philipma1957]

do they charge fees to transfer to another paypal account?

I have 2 PayPal accounts I may try to figure that out in a day or 2.

[cAPSLOCK]

well thats a bit shit then isn't it.

No Single Battle
Will Bring Victory in War
But today, we won.

[philipma1957]

Sorry. But why are you so happy about paypal? That means KYC. That means no use of mixer. Bye bye privacy. What is so fucking cool about that?

Using mixers and getting privacy = dead

always was going to go to dead

and no matter how much you want that to not be dead it will die.


If it does not die the Govs  of the world will kill btc off.





Now you can be private ,but the new privacy will be with very little liquidity.

Not mixers at all.

[cAPSLOCK]

Sorry. But why are you so happy about paypal? That means KYC. That means no use of mixer. Bye bye privacy. What is so fucking cool about that?

*cough* Monero. *cough*