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Author Topic: Paypal CEO admitted war against cash  (Read 1372 times)
The_Dark_Knight
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December 01, 2017, 02:04:33 AM
 #41

PayPal CEO Dan Schulman on the war against cash
Quote
"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/

One thing I find strange is why paypal CEO would be so supportive and vocal about bitcoin, while not direct competition to paypal the success of bitcoin can certainly hurt paypal in the future.
There could be several reasons, maybe he is able to see the trends and instead of denying it like all the lying politicians and bankers saying that bitcoin is a scam he is at least able to recognize what it is happening in front of his eyes and instead of being on denial he has decided to accept it, it may seem odd but only those that are able to accept what it is happening are going to be able to do something about it.


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December 01, 2017, 11:17:10 AM
 #42

"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.


Yup. So what kind of war is he talking about? For me, I think it is not about bitcoin. Government supports Paypal so I guess Paypal CEO is talking about a war that is beneficial to banks and governments. We all know, in some countries, bitcoin is not so much accepted, and for me there is a possibility that Paypal may think bitcoin as a threat, because bitcoin is better than Paypal maybe? So if Paypal CEO admitted a war against cash, do you think he can also state a war against bitcoin?

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December 01, 2017, 11:37:24 AM
 #43

It's pretty much all digital now anyways, difference being these payment processors and coins are doing something the banks are not and that's allowing ordinary people to do things faster, cheaper, easier and better.

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December 01, 2017, 11:50:29 AM
 #44


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.
I dont know exactly if USA produce more Fiat money more than normal. So its not really good.
But if paypal ty to against cash then it would really hard and close to impossible.

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December 01, 2017, 10:06:01 PM
 #45

The problem with PayPal is they are still centered around and based on the cash and fiat system. You need a bank account and cannot fund your PayPal with Bitcoin at the moment.

I think it would be an unbelievably amazing idea if PayPal were to start accepting funding of your account with Bitcoin and then offering debit/credit cards to users like some Bitcoin startups do now and we would be able to spend out PayPal balance like that. It would be amazing. Smiley


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