Paypal CEO admitted war against cash

[WestWorld]

PayPal CEO Dan Schulman on the war against cash

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

edit: Removed link. Don't know why link form a well-known news site is classified as suspicious. To find the article look for the title given above.

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[odolvlobo]

"admitted" is an odd choice of words. Here is another quote to add some perspective:

Fintech, or financial technology, is a type of financial service like PayPal, bitcoin and Venmo, where transactions are digitized and, according to Schulman, cheaper, because they are not subject to fees that often come with cashing checks or transferring money in person.

There is a war against cash that is designed to give government and banks more control over your wealth.

And then there is the war against cash that is designed to give people a better alternative to pieces of paper, such as Bitcoin.

[pitham1]

PayPal CEO Dan Schulman on the war against cash

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

edit: Removed link. Don't know why link form a well-known news site is classified as suspicious. To find the article look for the title given above.

Rather than admit, you should say acknowledge. A war against cash does work in  favour of players like Paypal.
The governments' war against cash will come a cropper if people decide to shift to alternative assets like gold or Bitcoin.

[hardtime]

Taken out of context a good amount as he was referring to how digital currencies such as bitcoin, venmo, and paypal are going to be helping people that can't handle most activities such as cashing a check, sending money and other things in a short and inexpensive time-frame. Still, I think this is pretty big news that someone of his caliber in the financial sector would say something like that.

"If you can do it all digital, you can do it much less expensively, and you don't have to wait three days to get that money."
-Dan Schulman, president and CEO of PayPal

Little do the people that use paypal know the amount of fees and stuff they're going to be incurring while using the service while selling goods, or even the simple things he listed above. Hope people that use PayPal for the ease see bitcoin and attempt to do the move over.

[r0ach]

a better alternative to pieces of paper, such as Bitcoin.

Bitcoin is fully traced with white and black lists and not fungible, which also in turn makes it a permissioned ledger.  Bitcoin essentially is a part of the war against cash and against freedom unless someone magically makes it fungible overnight.  No, not optional fungibility mixers or sidechains that "authorities" will claim is laundering, but fungible by default.

[Xester]

PayPal CEO Dan Schulman on the war against cash

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

edit: Removed link. Don't know why link form a well-known news site is classified as suspicious. To find the article look for the title given above.

Paypal is right in declaring war against cash. But this cash should only be limited to United States of America Dollar (USD) because of overproduction. The united states has been allegedly accused of mass producing US dollars more than the required number of cash to be circulated. Though it is alleged it is a thing that the world must look at but who in the right mind has that ability when they are in control of the World Bank. Aside from mass producing cash is also easy to be faked and thus to avoid overproduction and forgery paypal is calling for war on cash.

[cakravothy]

paypal declre war again about cash money
i think have have a purpose promotion not use cash money, this mean paypal dev want much people to use paypal account , debit card or credit card.
so if success to promote not use cash money, can incraese paypal business , and paypal client and user can incraese too

[asriloni]

"admitted" is an odd choice of words. Here is another quote to add some perspective:

Fintech, or financial technology, is a type of financial service like PayPal, bitcoin and Venmo, where transactions are digitized and, according to Schulman, cheaper, because they are not subject to fees that often come with cashing checks or transferring money in person.

There is a war against cash that is designed to give government and banks more control over your wealth.

And then there is the war against cash that is designed to give people a better alternative to pieces of paper, such as Bitcoin.

And there is a war against cash to give paypal a big advantage, with his big name become the online payment gateway. No doubt about it. But his word will not directly be supporting bitcoin also.

[Jannn]

And there is a war against cash to give paypal a big advantage, with his big name become the online payment gateway. No doubt about it. But his word will not directly be supporting bitcoin also.

Paypal is more popular in online business and online companies than the cash.And in my opinion paypal and cash is have an own advantages and disadvantages that can affect the user of it.

[davis196]

PayPal CEO Dan Schulman on the war against cash

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

edit: Removed link. Don't know why link form a well-known news site is classified as suspicious. To find the article look for the title given above.

Paypal fees are making me more and more angry.I can only laugh at what Dan Schulman said.
Anyway,Schulman is right about the tremendous leakage.The leakage is caused by the United States Federal reserve system.Can paypal start a war against the central bank?
I don` think so.

[Omega Weapon]

"admitted" is an odd choice of words. Here is another quote to add some perspective:

Fintech, or financial technology, is a type of financial service like PayPal, bitcoin and Venmo, where transactions are digitized and, according to Schulman, cheaper, because they are not subject to fees that often come with cashing checks or transferring money in person.

There is a war against cash that is designed to give government and banks more control over your wealth.

And then there is the war against cash that is designed to give people a better alternative to pieces of paper, such as Bitcoin.

I don't think bitcoin runs contrary to cash, the only problem of cash is that is part of the fiat system, of money issued by central banks that is not backed by anything, bitcoin it is not issued by governments and controlled by them so it give to us even more freedom than cash.

[ASHLIUSZ]

"admitted" is an odd choice of words. Here is another quote to add some perspective:

Fintech, or financial technology, is a type of financial service like PayPal, bitcoin and Venmo, where transactions are digitized and, according to Schulman, cheaper, because they are not subject to fees that often come with cashing checks or transferring money in person.

There is a war against cash that is designed to give government and banks more control over your wealth.

And then there is the war against cash that is designed to give people a better alternative to pieces of paper, such as Bitcoin.

I don't think bitcoin runs contrary to cash, the only problem of cash is that is part of the fiat system, of money issued by central banks that is not backed by anything, bitcoin it is not issued by governments and controlled by them so it give to us even more freedom than cash.

Bitcoin has given the freedom in financial requirements. Cash as a basics for all financing system is universally accepted from the existence of human civilization. If a war between the digital money and cash the cash will win the trust of people just due to the physical holding possibility and the stability in price which is complete backed by value based system.

[pinkflower]

PayPal CEO Dan Schulman on the war against cash

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

edit: Removed link. Don't know why link form a well-known news site is classified as suspicious. To find the article look for the title given above.

Thats very pretentious of him. It is cash that they all want. Why did they set up Paypal in the first place? Cash, money, riches, fortunes. Do not tell me all they wanted is to change the world. Dan Schulman is a capitalist at heart. If were talking about waste, then for some people BTC is the most wasteful of all.

[Amph]

i'm curious about how they are going to handle all the cash in the world, in fact removing cash from a single country isn't going to do much, you can always exchange your money with cash from another country

pretty much like bitcoin if it isn't done in all the countrie it will not work, and governments are not tht good at working together....

a better alternative to pieces of paper, such as Bitcoin.

Bitcoin is fully traced with white and black lists and not fungible, which also in turn makes it a permissioned ledger.  Bitcoin essentially is a part of the war against cash and against freedom unless someone magically makes it fungible overnight.  No, not optional fungibility mixers or sidechains that "authorities" will claim is laundering, but fungible by default.

only transaction are traced the sender unless he reveal his identity with a purchase or a dump is not traced or at least not all his bitcoin are traced

[aarturka]

Bitcoin is fully traced with white and black lists and not fungible, which also in turn makes it a permissioned ledger.  Bitcoin essentially is a part of the war against cash and against freedom unless someone magically makes it fungible overnight.  No, not optional fungibility mixers or sidechains that "authorities" will claim is laundering, but fungible by default.

You have no clue... Bitcoin can be anonymous if you like and was specially designed to resist banks' and governments' financial abuse. It apears your posts here are against Bitcoin and against freedom. Either you shill for some altshit here or you work for banks, am I right?

[panju1]

PayPal CEO Dan Schulman on the war against cash

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

edit: Removed link. Don't know why link form a well-known news site is classified as suspicious. To find the article look for the title given above.

Paypal fees are making me more and more angry.I can only laugh at what Dan Schulman said.
Anyway,Schulman is right about the tremendous leakage.The leakage is caused by the United States Federal reserve system.Can paypal start a war against the central bank?
I don` think so.

The fees was one reason why I thought people would turn against banks and organizations like Paypal.
But now with huge backlog of transactions and increasing transaction fees, I am nor so sure. 

[marcuslong]

PayPal CEO Dan Schulman on the war against cash

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

edit: Removed link. Don't know why link form a well-known news site is classified as suspicious. To find the article look for the title given above.

This is why the cashout takes too long i just confused everytime i withdraw my money from paypal to my cRd it wont take days but now some of method from my county they removed it now i know the reason behind

[WestWorld]

Venmo is a variation of paypal though.
But they are not available outside of the US so how do they expect to be a contender to paypal (even if they did by them out through the Braintree aquisition) if they are region restricted only to those citizens?
They have been proven to help scammers with their attempts to retrieve funds after they are sent:
http://time.com/money/4036511/venmo-more-check-than-cash/

[Kevin77]

Without doubts, is a race between paper money against electronic money.

Again in more particularly, the electronic format money is evaluating into another efficient format crypto urrencies. Hence it is a war against cryptocurrencies for PayPal for its survival. PayPal found its success when there was a demand for electronic format of money on internet usage. Similarly cryptocurrencies will find its success in PayPal way additionally decentralization and investment opportunities will boost its dominance.

I believe there would be no other option left for PayPal other than "adopting cryptocurrencies or dying".

[erifubirugen]

PayPal CEO Dan Schulman on the war against cash

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

edit: Removed link. Don't know why link form a well-known news site is classified as suspicious. To find the article look for the title given above.

And 6 months later Dan Scuhulman says; "One bitcoin would hit $1 million before the next ten years."

http://www.altcointoday.com/bitcoin-price-will-hit-1-million-over-the-next-decade/