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

[smracer]

I had to login with my personal account to see crypto on Paypal.  It put me on a waiting list though to be able to buy.

[strawbs]

Well, it's nice to be officially "wealthy" again at these BTC/USD prices. Freaking surreal.

Too bad the Paypal news is so lame. Not being able to move crypto between accounts, or into your own custody is going to red-pill quite a few folk about "not your keys, not your coins"

Gentlemen.

Yeah, that was one of my initial thoughts too. But that's eclipsed imo by the ability to send your bitcoin to paypal and then be able to spend it anywhere paypal is accepted, which is almost everywhere online. So just one extra step allows us to spend bitcoin almost everywhere. That's huge (no need to keep huge amounts of bitcoin there).

Hmm, it seems that if you cannot send/receive your own bitcoin to/from your paypal account, it's perhaps not as ground breaking as we'd hoped. Still a positive development though.

[NeuroticFish]

I had to login with my personal account to see crypto on Paypal.  It put me on a waiting list though to be able to buy.

You won't be able to withdraw to your own wallet. It looks like a sad joke (similar to what Revolut has as "buy Bitcoin").
So it's not actually useful to buy.

And spend... who spends Bitcoin now?  

[aesma]

So it's no different than "buying BTC" with eToro e al, you're just buying a "BTC" IOU.

Can be useful for speculators who don't want to touch real BTC, but for me, no use at all.

[BlackHatCoiner]

Holy sh*t what happened? I went to sleep on $12,300, woke up. Boom, $12,715.

Is paypal responsible for the recent pumps?

[philipma1957]

I had to login with my personal account to see crypto on Paypal.  It put me on a waiting list though to be able to buy.

You won't be able to withdraw to your own wallet. It looks like a sad joke (similar to what Revolut has as "buy Bitcoin").
So it's not actually useful to buy.

And spend... who spends Bitcoin now?  

This is a perfect launch pad for a small investor.

Simply buy and hodl.

Buy 20usd a week and hodl.

For instance I have 2 rebate companies retailmenot and cabin coupon.  I get 300-500 a year in rebates. It Is sent to my PayPal account.

I can buy 300-500 a year in btc and ignore it or should I say hodl it.

BTW my $20.00 in BTC is now Worth $20.38 

[cAPSLOCK]

Well, it's nice to be officially "wealthy" again at these BTC/USD prices. Freaking surreal.

Too bad the Paypal news is so lame. Not being able to move crypto between accounts, or into your own custody is going to red-pill quite a few folk about "not your keys, not your coins"

Gentlemen.

Yeah, that was one of my initial thoughts too. But that's eclipsed imo by the ability to send your bitcoin to paypal and then be able to spend it anywhere paypal is accepted, which is almost everywhere online. So just one extra step allows us to spend bitcoin almost everywhere. That's huge (no need to keep huge amounts of bitcoin there).

Hmm, it seems that if you cannot send/receive your own bitcoin to/from your paypal account, it's perhaps not as ground breaking as we'd hoped. Still a positive development though.

I would have been surprised if they would allow sending/receiving.  Nor BTC withdrawal, and obviously this is a big win for KYC.  And using it as "cash" for purchases will be it being spent at it's market rate etc.

it's messy.  There will be big negatives.  In some ways the status quo companies coming in is a bit of an invasion.

But this is SUCH a positive step in spite of all that.  And now the race is going to be who is the one that offers the most features you want.  Paypal, Square, Baakt, Fidelity, Robinhood, Etc?

This is DEFINATELY one of those "don't let the perfect get in the way of the good" moments.

I think Square/Cash App is going to set the tone for the industry, although PayPal is certainly a 900lb gorilla.

[ivomm]

Come on guys, don't turn this good news into a bad thing. It is true that those that are tech savvy will prefer to have the keys and not trust third party. How many are we - several millions? Well, paypal has over 320 mil active accounts, most of which belong to people who don't know a thing about crypto exchanges and keys. I talk often with bankers and accountants, who are interested in bitcoin but don't know how to buy it. For these people this will be a good opportunity to get into Bitcoin without any preparation and research. Let's say that 10% of them will buy 0.1BTC on average. This means over 3 mil bitcoins! And last but not least, there are countries and banks which ban bitcoin exchanges but don't ban paypal. Again this will be a good opportunity for those who don't know how to use VPN or don't trust this method. All this will have an impact on the demand, hence the price. And with all the new institutions entering the market... RIP all shorters or FUD victims aka mindrust.  

[NeuroticFish]

This is a perfect launch pad for a small investor.

Simply buy and hodl.

Buy 20usd a week and hodl.

The only advantages over doing the same at the existing exchanges is that at the existing exchanges sending fiat could cost more.
But at least when he reaches 1000$ (or whatever he thinks so) the small investor can withdraw as Bitcoin if he wants to.
Oh well... I've seen the same with Revolut and I've considered it an incorrect move (incorrect for the customer). But I guess they'll have their niche and I can't deny, the advertising they bring is great.

I am curious what will be the exchange rate difference from main exchanges. I am curious how the spending will go. Will they become the main hub for spending Bitcoin at shopping (as they hope, I guess)?

[cAPSLOCK]

I don't see anywhere in the PayPal app that you can turn on your lightning node.  Where is it? Are they using Neutrino?

[cAPSLOCK]

[troll mode back off]

You know what would be ridiculously bullish?  IF we do not see a "sell the news" drop sometime very soon.  Seriously when buys overcome all the insiders selling the extra stakes they bought?  See what I am saying?  I mean we should be seeing a drop in 3... 2...

[troll mode back on]

[cAPSLOCK]

In the PayPal app... where do you turn on Whirlpool?  Are they using coinjoins?  What is this shit?

Proudhon, I know it's not that good... but yeah?

[AlcoHoDL]

Information overload!

Came back from work to see several pages of WO posts and Bitcoin price pumping hard. Hungry as hell, and the first thing I do is open Firefox, which leads me straight to WO. Addicted? Probably. Enjoying it? Immensely!

Don't worry about PayPal. Bitcoin is Bitcoin. It is what it is. Let anyone use it as anyone pleases. That's the beauty of it. Anything you do with it, you cannot harm it. The more anyone uses it, the better for all of us.

And if you can harm it, then the experiment has failed.

So, to PayPal and everyone else, I say, USE IT and ABUSE IT as much as you want. All the better for us!

[strawbs]

A couple of years ago I had some GBP in a Revolut account at the start of a four month foreign vacation (that's another story), so I thought I might as well swap it for BTC on Revolut's platform. It sat there for the whole four months, increasing in value relative to GBP. At the end of the vacation I swapped it back to GBP and the profit paid for the vacation.

I know that last year there was a queue of over 15,000 waiting to open Revolut accounts.

This paypal news would allow more people to do pretty much the same thing, I suppose. As someone said earlier, presumably Revolut and now Paypal will have to make sure they always hold enough BTC to cover their customers' positions. In which case, for every 'virtual' BTC 'purchased' by a Paypal customer, PayPal would have had to purchase, or will have to purchase, a real BTC.  In which case, the more Paypal account holders who convert their fiat into Paypal's version of BTC, the more demand for real BTC and therefore more CCMF gifs, no?

[julian071]

A wall on Kraken.

[philipma1957]

This is a perfect launch pad for a small investor.

Simply buy and hodl.

Buy 20usd a week and hodl.

The only advantages over doing the same at the existing exchanges is that at the existing exchanges sending fiat could cost more.
But at least when he reaches 1000$ (or whatever he thinks so) the small investor can withdraw as Bitcoin if he wants to.
Oh well... I've seen the same with Revolut and I've considered it an incorrect move (incorrect for the customer). But I guess they'll have their niche and I can't deny, the advertising they bring is great.

I am curious what will be the exchange rate difference from main exchanges. I am curious how the spending will go. Will they become the main hub for spending Bitcoin at shopping (as they hope, I guess)?

Paypal is worldwide and has 300 million accounts.

and I am thinking a lot of other people are liking this as btc is over 12,689 last I looked.

I think a lot of people don't understand what adapting BTC entails.

This is a step in the correct direction.




And the first fool to post PayPal froze all my btc is just that a fool .  Why would you have more then 10% of your btc in PayPal.

[rdbase]

I guess I should buy some

Will need to check my paypal when I get a chance.
Wonder if we will be able to withdraw it once purchased like someone on twitter pointed out.


This was a definite move against Jack Dorsey as they began to see what square and their offering with cashapp has been a hit with their customer base..
taking a slice of their profits.

Bring it on Mofo's at Paypal HQ!  
Price be poppin' like a mutha f**kr now!

[Elwar]

I'm liking the PayPal thing...

My initial thoughts are that we could integrate this as a solution for bitcoin payments on the cruise ship. There are already PayPal NFC point of sale terminals. Everyone just sign up for a Paypal account, load it with BTC and pay everywhere on the ship.

That would allow people that just want to use fiat to do so as well.

There are also ways of loading up an NFC ring with payment details. Much to research but this could be pretty great.

[yslyv]

Shut up Trump! We dont need elections, we don't need bad coronavirus news for moon! We have enough positive updates.
There are around 350 million active accouts on Paypal. They can deposit withdraw cryptocurrencies without any local exchange requirements. Great!

[elrippos friend]

I'm liking the PayPal thing...

My initial thoughts are that we could integrate this as a solution for bitcoin payments on the cruise ship. There are already PayPal NFC point of sale terminals. Everyone just sign up for a Paypal account, load it with BTC and pay everywhere on the ship.

That would allow people that just want to use fiat to do so as well.

There are also ways of loading up an NFC ring with payment details. Much to research but this could be pretty great.

I wouldn´t touch it to be honest, but everybody can and should do like they desire