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Question: Did we reach the bottom already?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25778146 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (170 posts by 5 users with 9 merit deleted.)
rolling
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October 21, 2020, 02:46:18 PM

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

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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.

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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.

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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.
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October 21, 2020, 02:47:48 PM
Merited by fillippone (2)

^ yeah, no

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October 21, 2020, 02:48:30 PM

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.

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FREEDOM RESERVE


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October 21, 2020, 02:48:49 PM

well thats a bit shit then isn't it.
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October 21, 2020, 02:49:39 PM

do they charge fees to transfer to another paypal account?
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October 21, 2020, 02:53:51 PM

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.
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October 21, 2020, 02:54:13 PM

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?
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October 21, 2020, 02:54:58 PM

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?
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October 21, 2020, 02:55:21 PM

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.
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October 21, 2020, 02:55:36 PM
Merited by AlcoHoDL (1)

well thats a bit shit then isn't it.

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Will Bring Victory in War
But today, we won.
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October 21, 2020, 02:57:26 PM
Merited by cAPSLOCK (1), nutildah (1)

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.



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October 21, 2020, 02:59:29 PM
Merited by explorer (1), strawbs (1)

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*
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October 21, 2020, 02:59:58 PM

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.

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October 21, 2020, 03:00:56 PM
Merited by JayJuanGee (1)

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.
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October 21, 2020, 03:03:38 PM
Merited by JayJuanGee (1)

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?  Grin
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October 21, 2020, 03:06:29 PM

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.
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October 21, 2020, 03:06:51 PM

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

Is paypal responsible for the recent pumps?
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October 21, 2020, 03:09:47 PM

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?  Grin

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  Grin
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October 21, 2020, 03:21:53 PM
Merited by bitserve (1)

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.
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October 21, 2020, 03:27:01 PM
Merited by cAPSLOCK (5), philipma1957 (2), rdbase (1)

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.  
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