325 million new potential users

[acroman08]

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?

although this could be great publicity for bitcoin. but just thinking about the fees PayPal will charge and the transaction fee from the wallet scares me.

I don't think all these 325 are really potential users. But half of them might be interested.

the OP didn't say that all these PayPal users will become bitcoin user. that is why the OP used the word "potential" because all or some of these Paypal users could become a bitcoin user or all or some of them could just ignore bitcoin.

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[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 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.

~snip~

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

Seems that wasn't a type from none of them. Coindesk the latest statistics, Q1 of 2020 while cointelegraph took Q4 of 2019. You can find this statistics on Statista, I'll leave link: https://www.statista.com/statistics/218493/paypals-total-active-registered-accounts-from-2010/
Idea behind integration of blockchain in paypal was never to bring customers to bitcoin but to increase number of their customers and attract exciting bitcoin customers to their servies. Maybe some of paypal's customers will have a look over bitcoin when they see this news in their email/paypal account.

They choose random 1000 person from each country. Btw this is very low number and doesn't give us any proper imagination cause for higher accuracy, they had to choose at least more than 1000 person from each city of each country.

[Debonaire217]

PayPal users are too many, and with their partnership with Binance, buying cryptocurrency such as bitcoin will be faster and easier. If I am not mistaken, this is the first time that they will allow a directsales of cryptocurrency through PayPal, IMO, cryptos availability would be limited, but the fact that people around the world will have access to bitcoin is enough for us to spread this news today.

You might want to provide more info in this thread OP.

[hilariousetc]

These rumours of PayPal accepting or dealing with Bitcoin have been going on as long as I've been on this forum. The new round of speculation seems to be based on nothing concrete but yet more rumours as well. I think Paypal should get on board as it shouldn't be that difficulty for them to implement and it would open them up to a whole industry where they can make a lot more money on fees (which I'm sure would be large).

I don't think all these 325 are really potential users. But half of them might be interested.

Of course they would be potential users, but you're right that most Paypal users probably don't care but at least if they did implement it it would pique the interest of the average user and maybe make it safe and accessible for them to be able to buy crypto. To the average person on the street a lot of people think getting into bitcoin is overly complicated but in reality it's pretty much as simple as using PayPal and that could open it up to potentially a lot of users and especially ones who otherwise wouldn't have cared or bothered. Even though I'm very sceptical of this news I do hope they implement it as some point as it would be huge for adoption but I'm not holding my breath.

[Sebas.tian]

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.

PayPal has a big problem with customers support and this will be a Major issue we should talk about and not just the numbers coming to join the existing ones. Remember they are likely to operate onchian which will have a side effect on the network, if they will build their own Blockchain will be an added advantage to the cryptocurrency world. Also, those millions should not hold their coins with PayPal because of scam rather everyone should hold to their wallets.

[larus]

In my opinion, everyone who want to buy bitcoin dont need paypal support for this. This new feature wont give us a lot of new users

[carlisle1]

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.

PayPal has a big problem with customers support and this will be a Major issue we should talk about

Support problem?any link about this ?it seems not the real issue to talk about when PayPal is concern.

 and not just the numbers coming to join the existing ones. Remember they are likely to operate onchian which will have a side effect on the network,

What side effect?because they will operate in china?you have so many issues but nothing supporting those?

if they will build their own Blockchain will be an added advantage to the cryptocurrency world. Also, those millions should not hold their coins with PayPal because of scam rather everyone should hold to their wallets.

Why they need to Hold via paypal?when they can hold in their own wallet.

[coinmaster9000]

I would be happy because it is a way for people to use digital currencies instead of selling them directly and then transfer them to the bank account.
Perhaps with Paypal you will find many ways to buy and sell digital currencies faster and easier.
In the future we will see more sectors that want to invest and many of them may want digital currencies if they hope to succeed with Paypal.

[TravelMug]

In my opinion, everyone who want to buy bitcoin dont need paypal support for this. This new feature wont give us a lot of new users

Obviously there are a lot of options out there, like exchanges, P2P, localbitcoins etc. What Paypal is trying to do is more on their business side, offering bitcoin or crypto will generate them a lot of money and at long last, if this is true, then it can potentially push the price and closer to adoption as there are a lot of Paypal users around the globe.

Why do you say though that it won't give us a lot of new users? Crypto enthusiast are growing by the numbers and those that have Paypal and doesn't know about crypto must likely be interested, not all but there could be some good percentage out of that 325 million Paypal users.