325 million new potential users

[mk4]

For now, all we have are rumours. Regardless who's backing these rumours, in the end, rumours are rumours. I'll believe it when I see it.

If it ends up being true, though PayPal as a platform sucks bigtime, I'd say this is still going to be a net positive for bitcoin. My ideal situation will be as such:

People buy bitcoin on PayPal --> some are shocked that their funds are locked for some reason(because PayPal) --> they end up buying bitcoin on some other platform instead. And hopefully, with some learning about money, privacy, and security along the way.

[yazher]

This will occur sooner than we have expected since BTC always makes some noise in the media nowadays. especially we have only seen this few days some good news about it. no wonder the result will come to this and when we said about mass adoption, this will likely occur these coming years. maybe in the next BTC halving, the number of holders will significantly increase and the popularity will also follow. All thanks to the good result we have seen so far both in the market and the other companies who used BTC as their means of accepted payments.

[sheenshane]

I like the appreciation of the CEO of Binance, he acknowledged on Paypal's acceptance of crypto.

Sorce:

All I can see here is, business is business. Probably Paypal has an insight of wide acceptance of crypto in mainstream and this is the opportunity to gain profit from their 325 million users. Cryptocurrencies have gained a solid foundation either payments method or in medium exchange and I doubt this is what they saw and the reason of having tied up with crypto.

[shield132]

According to coindesk, PP has 325 million users, according to cointelegraph - 305 million While in reality it's really 325, did they change number to make their article appear a little bit different and "relevant"? Sounds curious.

Well, I wouldn't say that we get 325 potential crypto users but the main idea behind this action is to bring new users to paypal and grow their number. Crypto community is getting bigger and bigger, for example, Blockchain.com wallet has 47 million users.

Cryptocurrencies have a lot of users and they are very beneficial for development of their business. Analyze number of transactions on blockchain and bitcoin's value in USD, this is the extra profit that paypal misses everyday. I don't mean that they'll attract every crypto users but it's a wise step from them to gain monopoly here (but it's sad, crypto is becoming a victim of business).
Despite the fact that for me it has a lot of cons but not pros because from my view it's not a good that crypto is losing the main idea behind it, it's still nice news for a lot of people and at some point I enjoy it.

[Twentyonepaylots]

We can't guarantee that those 325 million user of PayPal doesn't use crypto. Most people are using master card or visa card already there's a lot of way to buy crypto using that method. PayPal might help to spread bitcoin awareness but not that much compared on how publishing site hype this kind of news.

Definitely. How can we be sure that these 325 million user of paypal will be into crypto after all? Ok let's say at least the half will try to use the new update, so what now? This isn't guaranteeing a mass adoption lol. I've read the rumors about it, about paypal and venmo to test crypto buying and selling services, paypal allegedly hiring crypto engineers for the project. I think this is a good chance for more recognition of bitcoin, but at some point we it might end up being the exit gates of scammers.

We are already on 2020 and I believe that PayPal user are well aware about crypto investment so if they really want to buy crypto, they will just use there card to purchase some since a lot of exchange are now accepting fiat for purchasing crypto like Binance, Changelly, Shafeshift and many more.

Imagine you're into digital payment method but does not know bitcoin haha though there are people who'd be like this but there more who are aware of bitcoin and putting it on paypal would not guarantee anything BUT still chances are huge as paypal is the most popular digital payment processor.

[rhomelmabini]

They've withdrawn their partnership with Facebook-Libra now they are the ones taking the big step to have mass adoption, LOL? It's clear how hypocrite they are realizing that crypto is getting traction.

I don't want to wait for a day just for a $100 transaction plus the sucking fee they get on it.

[kotajikikox]

Since I haven´t found that topic discussed, I decided to start this thread.

https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling

The rumour is backed up by another rumour (or is it?) : https://cointelegraph.com/news/paypal-is-hiring-crypto-engineers-amid-rumors-of-bitcoin-integration 

That could lead to mass adoptions earlier than expected and could have a effect on the price that we haven´t seen yet. Maybe that could accumulate the necessary force to break through Bitcoins sell barrier between 10 and 12K.

Your opinions on that news?

Having this become reality is one of most dreams from the cryptonians because let us admit that Paypal is part of our daily living now,Buying items online that mostly accept Paypal but not accepting Bitcoin.

These Millions of users might be the biggest adoption we wanted to come on our way here in crypto.

[Pamadar]

According to coindesk, PP has 325 million users, according to cointelegraph - 305 million While in reality it's really 325, did they change number to make their article appear a little bit different and "relevant"? Sounds curious.

Well this maybe a typo error because only the middle number change,and also how do we know the reality when this is only about their stats and cannot be find by public.

Well, I wouldn't say that we get 325 potential crypto users

Of course we will not sure about that 325 million user because i think part of that users are already Bitcoin users so there is no assurance that 325 million is the right number to talk here.

Nice image But Japan almost on bottom?seems like the respondent are not from the true users of Crypto.

[tomahawk9]

Oh boy, here we go again. First, it was Libra and Facebook's +2 billion potential users that will come to the cryptosphere and that meant (according to many people) BTC to the moon and lambos for everyone.

Now it's Paypal, because they're 1) a big corporation, and 2) they have a huge userbase, and both items automatically make this "news" bullish, right? not only that but this is also "good for bitcoin and cryptos", correct?

You know, there was a time when the majority of crypto users said that Paypal was shit, and anything that had the name paypal was met with criticism and whatnot, but nowadays, this news (Paypal entering the crypto world) is the kind of news that could trigger upward movements in the price because the new narrative is "we shall welcome Paypal or any other big corp with our open arms for it means my crypto bags getting pumped"  sad but true

https://i.imgur.com/gTc0SAS.jpg

interesting how most of the countries with two digits percentage are not  "first world countries"

[lepbagong]

Since I haven´t found that topic discussed, I decided to start this thread.

https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling

The rumour is backed up by another rumour (or is it?) : https://cointelegraph.com/news/paypal-is-hiring-crypto-engineers-amid-rumors-of-bitcoin-integration  

That could lead to mass adoptions earlier than expected and could have a effect on the price that we haven´t seen yet. Maybe that could accumulate the necessary force to break through Bitcoins sell barrier between 10 and 12K.

Your opinions on that news?

Having this become reality is one of most dreams from the cryptonians because let us admit that Paypal is part of our daily living now,Buying items online that mostly accept Paypal but not accepting Bitcoin.

indeed, in transactions with bitcoin directly, there will also be many obstacles beforehand, because there could be no recognition of bitoin in one country. the easiest of course is to use paypal and the like that each country of course also issued its own money online. because in a pandemic like this it is also very much needed online transactions.

These Millions of users might be the biggest adoption we wanted to come on our way here in crypto.

clearly with more and more participating signifying its own recognition of crypto, because the investment needs of crypto are still very large and enticing.

[hatshepsut93]

I don't like all these talks about "potential users", when the first block was mined Bitcoin already had 7 billion potential users, because anyone in the world can install a Bitcoin client and send and receive transactions. The ability to buy Bitcoin with any given method only slightly increases adoption, because people have lots of other methods available - banks, cash, other payment companies.

[Ucy]

Centralized ownership/control of cryptocurrency doesn't really interest me. That is one of crypto biggest problems or risk most people hardly talk about. I would be careful investing long-term in cryptocurrency with lot of centrally controlled coins and projects.
My favourite cryptocurrency would be that with well decentralized system/ecosystem, with mostly decentralized projects, and with most users having full control of their funds in well decentralized manner.

[Twinkledoe]

Oh boy, here we go again. First, it was Libra and Facebook's +2 billion potential users that will come to the cryptosphere and that meant (according to many people) BTC to the moon and lambos for everyone.

Now it's Paypal, because they're 1) a big corporation, and 2) they have a huge userbase, and both items automatically make this "news" bullish, right? not only that but this is also "good for bitcoin and cryptos", correct?

You know, there was a time when the majority of crypto users said that Paypal was shit, and anything that had the name paypal was met with criticism and whatnot, but nowadays, this news (Paypal entering the crypto world) is the kind of news that could trigger upward movements in the price because the new narrative is "we shall welcome Paypal or any other big corp with our open arms for it means my crypto bags getting pumped"  sad but true

https://i.imgur.com/gTc0SAS.jpg

interesting how most of the countries with two digits percentage are not  "first world countries"

Whenever there is known company attempting to use crypto, people go wild for the reason that they may contribute with the increase of price in the market. And if the media caught it, those noncrypto users will suddenly be interested on checking this out. So not bad for crypto users like us, more adoption means more demand and so its price will perform better.

[Becky666]

For those thinking about the negative side of PayPal integrating bitcoin into their payment system should consider themselves be over hyping its side effects. The 325 millions haven't been with us and don't even know how to carryout simple transaction with bitcoin. Those numbers are those who used VisaCard and MasterCard, these cards can be use to purchase bitcoin and also equally for bitcoin spending. This will definitely help the bitcoin price to skyrocket in mean time.

[dothebeats]

It will remain a rumor until such time that they decide that it's time to pull the curtains down and reveal what they are really planning. As of the moment, all hopes are up for Paypal to actually consider what was deemed as 'ridiculous' by institutional investors back then: a fully working bitcoin integration on a traditional online payment processor. Just imagine the sheer amount of users that could potentially leap the boundary they thought they could never cross due to some restrictions and difficulty to comply with documents. It'll be easy and seamless with Paypal, as most people probably know about it and trust it more than exchanges that traditionally buys and sells bitcoin.

[pjcaruci]

The number of users will grow every day, but at some point this growth will stop. We need new approaches to solving problems in the crypto industry. In addition, crypto should be more friendly to newcomers.

[rexxarofmoknathal]

If this would really happen then we would see a massive price increase due to the potential new investors.
But we couldn't be so sure about it unless it is already happening and this could be what we need to see another ATH.

That's right, if paypal is starting to support and integrate Bitcoin then this will certainly be a positive wave for the crypto industry. In fact, this alone will make other institutions alike reconsider their position of blockchain and crypto in general which in turn will lead not only to greater adaptability but also faster technology improvements. And that's worth looking forward to!

[DarkDays]

Looks like this is the cause of today and yesterday's pump. People are always counting their money before PayPal have even made an announcement yet.

It is more likely that they're just going to offer some simple checkout functionality for certain websites, rather than roll it out as a currency on the platform.

I wouldn't be surprised if this isn't just for apps or something using Paypal payment processing technology.

[LogitechMouse]

I have watched a video on youtube regarding this and this is just a "rumor" for now since the article isn't backed up by any trusted sources.

Well, if this will happen then this will be a very huge catalyst for the price of Bitcoin. It will spike that much because this is a good news for all of the users and Paypal users that are involved in cryptospace. I've seen this news already for around 2-3 years ago regarding this but it didn't happen but now it came up again. Not expecting too much with this but if this will be implemented then good .

[yhiaali3]

It is good to hear that Paypal is seeking towards cryptocurrencies, Paypal is one of the largest electronic payment companies across the world, but I think they had long cooperation with the Coinbase exchange where you could buy and sell cryptocurrencies via Coinbase and Paypal but I think this cooperation was not successful Significantly, PayPal adopts old centralized payment systems and I do not think they are going to change their policy towards decentralization.