Hueristic
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Doomed to see the future and unable to prevent it
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October 23, 2020, 02:46:55 PM |
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This is interesting. This is likely very positive. I do not *think* they would be doing this if they were not bought into the ecosystem philosophically. In other words if Bitcoin is just a precursor to PalCoin that's one thing... and I do not doubt PalCoin is likely. But it seems they must recognize Bitcoin as having unique intrinsic value. Obviously they are also thinking other "crypto" may as well. But so be it. (I mean who am I, a Monero holder to judge? ) The only way this could be bad is if they were buying the other businesses to kill them. But that does not make any sense. They are picking the wrong ones, and there are too many for that strategy to work. I think whoever is making the decisions at PP has a pretty good view of what the inevitabilities are. They are wrong about BCash, but aint nobody perfect. PayPal has been holding talks with BitGo, a company that helps investors store Bitcoin securely, and could reach a deal within weeks, the people said, asking not to be identified because the matter is private. Talks could still fall apart and PayPal could opt to buy other targets, the people added. So they don't want people to know that they are trying to sell peoples keys? What do they think, those clients will have an issue with PP owning them?
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JimboToronto
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You're never too old to think young.
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October 23, 2020, 03:06:20 PM |
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Good morning Bitcoinland. The battle for $13k rages on... currently $12940USD/$16977CAD (Bitcoinaverage). A little sideways is probably good after this week's gains. Go Bitcoin go. Who could forget. Sure, I mined a few coins with my BFL before it became totally obsolete. I did earn money. Still, if I'd bought bitcoins with the money I sent to BFL for my pre-order, I'd have a lot more now. The $650 I spent in February 2013 could have bought over 20 coins. Barely mined 5 coins before obsolescence. An extra 15 coins always comes in handy. Phucque BFL.
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cAPSLOCK
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Whimsical Pants
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October 23, 2020, 03:16:50 PM |
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This is interesting. This is likely very positive. I do not *think* they would be doing this if they were not bought into the ecosystem philosophically. In other words if Bitcoin is just a precursor to PalCoin that's one thing... and I do not doubt PalCoin is likely. But it seems they must recognize Bitcoin as having unique intrinsic value. Obviously they are also thinking other "crypto" may as well. But so be it. (I mean who am I, a Monero holder to judge? ) The only way this could be bad is if they were buying the other businesses to kill them. But that does not make any sense. They are picking the wrong ones, and there are too many for that strategy to work. I think whoever is making the decisions at PP has a pretty good view of what the inevitabilities are. They are wrong about BCash, but aint nobody perfect. PayPal has been holding talks with BitGo, a company that helps investors store Bitcoin securely, and could reach a deal within weeks, the people said, asking not to be identified because the matter is private. Talks could still fall apart and PayPal could opt to buy other targets, the people added. So they don't want people to know that they are trying to sell peoples keys? What do they think, those clients will have an issue with PP owning them? Hmm that seems kind of dystopic. My first thought was they are trying to establish their own solution for custody.
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Last of the V8s
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Be a bank
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October 23, 2020, 03:29:04 PM Last edit: October 23, 2020, 05:40:02 PM by Last of the V8s |
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edit: unrelated to the ongoing convo, just a meme/art piece @Corrosive
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Hueristic
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Doomed to see the future and unable to prevent it
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October 23, 2020, 03:31:23 PM |
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Hmm that seems kind of dystopic. My first thought was they are trying to establish their own solution for custody. After watching Goldmann Ballsacks buy and rape Polo call me jaded. That looked like a dry run to me.
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AlcoHoDL
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October 23, 2020, 03:36:22 PM Merited by LFC_Bitcoin (1) |
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"Help muh famalie" LOL! Epic! Super-cool hat too! @LFC: Nice collection of mindrust quotes. Never read them before. Gives a good insight into the "mindrust mindset"...
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rdbase
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Join the world-leading crypto sportsbook NOW!
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October 23, 2020, 03:51:36 PM |
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ppBTC now being listed on dark markets 0.8 to wBTC calling new improved Mark Karpeles reboot to head up Paypal BTC division ... it's actually a good thing, bitcoin could ruin paypal and if there's one bad implementation of legacy finance on the internet it is the abomination called paypal, that musk shat out when he didn't know any better. The way big money corporations such as paypal, whos business is moving money around, I wouldn't doubt they'd be looking for former experience in the space and who has had the primer of it than ex-boss of Mt.Gox Paypal are green when it comes to cryptocurrency (they still have the clause 'can not use their services to buy cryptocurrency using paypal funds from another account holder' in their terms of service; they only want you to buy from them on their platform! ) and them assigning Karpeles thinking it will put a feather in their cap. "Help muh famalie" LOL! Epic! Super-cool hat too! @LFC: Nice collection of mindrust quotes. Never read them before. Gives a good insight into the "mindrust mindset"... Should I buy back? Haha! Nice! I can see it being a classic just like their previous one I still listen to this day. "Bitcoin wen go to moon?"
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Torque
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October 23, 2020, 03:57:20 PM |
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This is interesting. This is likely very positive. I do not *think* they would be doing this if they were not bought into the ecosystem philosophically. In other words if Bitcoin is just a precursor to PalCoin that's one thing... and I do not doubt PalCoin is likely. I think this smells. They have known about Bitcoin and other crypto companies since 2012/2013. They could have bought any number of them then for cheap, and enabled crypto payments a long time ago. So why now? The likely culprit is that their profits are falling, and they're looking for another way to lock in users into their payment services platform. And also to scoop 0.5% on every crypto buy/sell. It is all greed driven, that is all. Absolutely nothing altruistic about it.
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vapourminer
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what is this "brake pedal" you speak of?
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October 23, 2020, 04:05:24 PM |
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Nice collection of mindrust quotes. Never read them before. Gives a good insight into the "mindrust mindset"...
hey everyone has panic sold something at some point (admit now.. well, except bob with his titanium training) but that was.. well that was some next level shit.
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Torque
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October 23, 2020, 04:13:29 PM |
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#JEneSUISpasmindrust
Other mind rust quotes
Poor guy. I still remember the "China bans bitcoin" crash of 2013 like it was yesterday. I was at the airport, watching the chart on my phone. It was all a nonstop sea of red straight down, and within an hour had falling well below my average buy in price. I felt sick, and certainly had many of these same thoughts. But I hodled on. Refused to panic sell.
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bitebits
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Flippin' burgers since 1163.
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October 23, 2020, 04:19:22 PM Merited by fillippone (2) |
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In before fillippone
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cAPSLOCK
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Whimsical Pants
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This is interesting. This is likely very positive. I do not *think* they would be doing this if they were not bought into the ecosystem philosophically. In other words if Bitcoin is just a precursor to PalCoin that's one thing... and I do not doubt PalCoin is likely. I think this smells. They have known about Bitcoin and other crypto companies since 2012/2013. They could have bought any number of them then for cheap, and enabled crypto payments a long time ago. So why now? The likely culprit is that their profits are falling, and they're looking for another way to lock in users into their payment services platform. And also to scoop 0.5% on every crypto buy/sell. It is all greed driven, that is all. Absolutely nothing altruistic about it. I CERTAINLY do not think PP's motivations are altruistic in any way. But this continues to make my point. Bitcoin does not care if you are altruistic or you are bastard. And it will crush you if you stand in it's way. Over and over that has happened. And I expect we will watch companies that try to game it, or own it, or overcome it, or break it be destroyed by it. Possibly PP. But I would think they can work any greed angle that aligns with the network. Bitcoin does not care. Also I think altruism can cause us to stand in the way of Bitcoin as well... and it will run over the altruistic just the same as the bastard.
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cAPSLOCK
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October 23, 2020, 04:25:11 PM |
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Volume says head fake IMHO.
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AlcoHoDL
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October 23, 2020, 04:39:52 PM |
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I CERTAINLY do not think PP's motivations are altruistic in any way.
But this continues to make my point. Bitcoin does not care if you are altruistic or you are bastard. And it will crush you if you stand in it's way. Over and over that has happened. And I expect we will watch companies that try to game it, or own it, or overcome it, or break it be destroyed by it. Possibly PP.
But I would think they can work any greed angle that aligns with the network. Bitcoin does not care.
Also I think altruism can cause us to stand in the way of Bitcoin as well... and it will run over the altruistic just the same as the bastard.
Exactly. The word "altruistic" is not in Bitcoin's vocabulary. In fact, it only understands 2048 words. The rest is hexadecimals and base58.
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VB1001
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<<CypherPunkCat>>
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October 23, 2020, 04:52:45 PM |
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AlcoHoDL
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Addicted to HoDLing!
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October 23, 2020, 04:53:33 PM Merited by vapourminer (1) |
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hey everyone has panic sold something at some point (admit now.. well, except bob with his titanium training) but that was.. well that was some next level shit.
I still remember the "China bans bitcoin" crash of 2013 like it was yesterday. I was at the airport, watching the chart on my phone. It was all a nonstop sea of red straight down, and within an hour had falling well below my average buy in price. I felt sick, and certainly had many of these same thoughts.
But I hodled on. Refused to panic sell.
Yeah, it's happened to me too. In early January 2017 I had bought some coins around $1100 and then it dumped to under $800 (IIRC). I tried to sell on the way down, but Kraken saved me by not executing the order, due to their server s/w being run on ZX Spectrum 48Ks... Thank you Kraken, you saved me some losses from selling and rebuying. So yeah, it's not so easy to keep your cool, especially in the early years of HoDLing. Would not do that now though. I feel I know how to handle it now, after years of HoDL hardening...
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VB1001
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<<CypherPunkCat>>
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Sometimes you have to sell against your will, I know what I'm talking about.
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rdbase
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Join the world-leading crypto sportsbook NOW!
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October 23, 2020, 06:40:11 PM |
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Nice collection of mindrust quotes. Never read them before. Gives a good insight into the "mindrust mindset"...
hey everyone has panic sold something at some point (admit now.. well, except bob with his titanium training) but that was.. well that was some next level shit. I would like a wall of Mindtrust quotes..uhh.. for prosperity purposes. Do you think it would be meme worthy enough to make them postable? This is interesting. This is likely very positive. I do not *think* they would be doing this if they were not bought into the ecosystem philosophically. In other words if Bitcoin is just a precursor to PalCoin that's one thing... and I do not doubt PalCoin is likely. I think this smells. They have known about Bitcoin and other crypto companies since 2012/2013. They could have bought any number of them then for cheap, and enabled crypto payments a long time ago. So why now? The likely culprit is that their profits are falling, and they're looking for another way to lock in users into their payment services platform. And also to scoop 0.5% on every crypto buy/sell. It is all greed driven, that is all. Absolutely nothing altruistic about it. I CERTAINLY do not think PP's motivations are altruistic in any way. But this continues to make my point. Bitcoin does not care if you are altruistic or you are bastard. And it will crush you if you stand in it's way. Over and over that has happened. And I expect we will watch companies that try to game it, or own it, or overcome it, or break it be destroyed by it. Possibly PP. But I would think they can work any greed angle that aligns with the network. Bitcoin does not care. Also I think altruism can cause us to stand in the way of Bitcoin as well... and it will run over the altruistic just the same as the bastard. Corporate money is and always be ' in it for the greed'. They don't do it for the sake of bitcoin's good in the world. Trust me on this one! I CERTAINLY do not think PP's motivations are altruistic in any way. But this continues to make my point. Bitcoin does not care if you are altruistic or you are bastard. And it will crush you if you stand in it's way. Over and over that has happened. And I expect we will watch companies that try to game it, or own it, or overcome it, or break it be destroyed by it. Possibly PP. But I would think they can work any greed angle that aligns with the network. Bitcoin does not care. Also I think altruism can cause us to stand in the way of Bitcoin as well... and it will run over the altruistic just the same as the bastard.
Exactly. The word "altruistic" is not in Bitcoin's vocabulary. In fact, it only understands 2048 words. The rest is hexadecimals and base58. Cool! The more you know. hey everyone has panic sold something at some point (admit now.. well, except bob with his titanium training) but that was.. well that was some next level shit.
I still remember the "China bans bitcoin" crash of 2013 like it was yesterday. I was at the airport, watching the chart on my phone. It was all a nonstop sea of red straight down, and within an hour had falling well below my average buy in price. I felt sick, and certainly had many of these same thoughts. But I hodled on. Refused to panic sell.
Yeah, it's happened to me too. In early January 2017 I had bought some coins around $1100 and then it dumped to under $800 (IIRC). I tried to sell on the way down, but Kraken saved me by not executing the order, due to their server s/w being run on ZX Spectrum 48Ks... Thank you Kraken, you saved me some losses from selling and rebuying. So yeah, it's not so easy to keep your cool, especially in the early years of HoDLing. Would not do that now though. I feel I know how to handle it now, after years of HoDL hardening... Seems like Kraken is doing something good. Posted to their "bitstampie" like trading view to install as an app. https://bitcointalk.org/index.php?topic=5276527.msg55438634#msg55438634Thanks bitebits! Mike Novogratz said covid was good for bitcoin? I guess so. https://twitter.com/APompliano/status/1319626378376056833https://www.youtube.com/watch?v=_PXU0thDHCUHe did say up to $40,000 in the now famous "Bitcoin when moon?" song... so here we go!
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Febo
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October 23, 2020, 06:43:26 PM |
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IMHO, I see BTC being a bit over or around $20k at the end of 2021. ..if the 100k in 2021 comes to pass I'll take the fall on this post then) Price 14 months from now will most likely be somewhere in between those two numbers. Very hard to be less then $20k and also very hard to be more then $100k, since final push usually happen in month or less. Chances to be between those two numbers is probably over 90%. Does paypal really buying bitcoin, if a paypal user buying (paypal) bitcoin or is the paypal-bitcoin just on the paper?
https://www.paypal.com/us/smarthelp/article/cryptocurrency-on-paypal-faq-faq4398Yes they are buying real BTC and they are using Paxos to do so. They are making money on the spread. I doubt they are taking possession of the coins. They are just facilitating the buying and selling and making 0.5% on each buy or sell. Paxos is holding the coins and is regulated so they are not going to do fractional reserve. All this talk about fractional reserve is just FUD. I also agree they will buy all Bitcoin people will pay them for on paypal platform. They would be very dumb not doing it. Since the moment Bitcoin would go x10. And people would lets say spend a billion to buy "Bitcoin", they would owe them 10 billion. I am not afraid they are this dumb. But what I am positive is that they already bought a bunch of Bitcoin at much cheaper price then $13k. Their bags are full and from those bags will sell to their users. And also they will use this coins that will hold for their users to manipulate Bitcoin price in years to come. This is the worse thing about it. Not the fear they are making fractional reserve from Bitcoin.
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Last of the V8s
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Be a bank
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October 23, 2020, 06:48:52 PM |
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Holy Cow
Most bullish commentary for #bitcoin that I have read from JP Morgan
"Even modest crowding out of #GOLD takes #bitcoin up multiples."
Widespread research piece reaches all clients of the bank.
Paypal announcement "cover" for other traditional players to get involved. https://twitter.com/DTAPCAP/status/1319703750450302980
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