PAYPAL RUMOR

[MrMojoRising26]

I'm sure we all heard the rumor by now I will believe it when I see it, but it would be pretty cool to have friends venmo you some BTC!!! or BTC friends and family paypal payment option Im not sure how this unfolds but It is a good start for all the nocoiner friends of ours to see bitcoin as a payment option on paypal or venmo. I hope there is some truth to the rumor just to have more widespread adoption. Although screw the middleman always taking a cut of our money! That would be some real irony having bitcoin being used and some third party taking a cut But every company takes a cut in fees or whatever so be it I guess. I'm looking forward to hearing your opinions on this

[Mbitr]

I think the crucial word is Rumour -‘ three people familiar with the matter’ !
Here’s the full link

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

Personally I can’t see it happen

[cheezcarls]

I think the crucial word is Rumour -‘ three people familiar with the matter’ !
Here’s the full link

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

Personally I can’t see it happen

And they are currently looking to hire crypto engineers:

https://cointelegraph.com/news/paypal-is-hiring-crypto-engineers-amid-rumors-of-bitcoin-integration

I've been a Paypal user for almost a decade in receiving salaries for my work. However, due to their ridiculous high fees, I stopped using them as option for receiving payments (except when buying plane tickets from local flight carriers for most of the past two years).

A couple of years ago, Paypal CEO claimed that Bitcoin is the biggest scam in history due to the pump and dump scenario:

https://www.forbes.com/sites/ktorpey/2018/04/24/founding-paypal-ceo-bill-harris-says-bitcoin-is-a-scam-heres-why-hes-wrong/

How funny that he threw off the hat and now considering to welcome Bitcoin and cryptocurrency in open arms.

[mk4]

We already have a topic for this, here: Topic: 325 million new potential users https://bitcointalk.org/index.php?topic=5257445.0

[electronicash]

paypal hates btc since time but its really interesting what they'd be doing with this blockchain engineer to turn it into thier gain.

it could be that they will allow BTC users to sell their Bitcoin and they'd send paypal USD to these users but not allowing paypal users to buy BTC. this could just be what the case, they are just going to be collecting BTCs.

[OmegaStarScream]

My main concern is whether people will be able to withdraw their coins or not. Skrill did the same thing a few months back, but no one is really using that, mainly because they give people access to their crypto, not outside of their platform anyway.

[Stedsm]

PayPal should never, ever integrate crypto (if this is ever gonna happen) because then, centralization at mass level will take place which means that the limited control that we have, of our coins, will be stolen and we won't be able to do anything for that. It's better if PayPal sticks to its old mentality about cryptocurrencies and BTC.

[aioc]

My main concern is whether people will be able to withdraw their coins or not. Skrill did the same thing a few months back, but no one is really using that, mainly because their platform doesn't give out access to your crypto.

I wonder how they are going to play that out since  Skrill failed on this one, but let's give Paypal a chance this is a huge company, they will eventually join this technology, they failed on the Libra project, now they want on on their own, the number of users is so huge it looks like a big pump coming because of this news, not a rumor anymore.

[electronicash]

My main concern is whether people will be able to withdraw their coins or not. Skrill did the same thing a few months back, but no one is really using that, mainly because their platform doesn't give out access to your crypto.

I wonder how they are going to play that out since  Skrill failed on this one, but let's give Paypal a chance this is a huge company, they will eventually join this technology, they failed on the Libra project, now they want on on their own, the number of users is so huge it looks like a big pump coming because of this news, not a rumor anymore.

yes why not. give them a chance.  there is a similar chance that chainlink can provide which is their oracle. i hoping they were requiring the engineer because of chianlink feature which could handle what they can with a smartcontract. the creativity will work here so its up to them how they can make people happy with their smartcontract.

[Quidat]

My main concern is whether people will be able to withdraw their coins or not. Skrill did the same thing a few months back, but no one is really using that, mainly because their platform doesn't give out access to your crypto.

That would be the main concern and if this one turns out to be an another custodial one and wont really give out that access then it will still surely fail or wont really get any users at all.
Its really quite surprising that Paypal do now recognized nor do reconsider on integrating things which they do basically know that crypto itself is fully contrary into its service or
they are just tending to dive in on how crypto payment looks like or make them to earn money.

[pixie85]

A couple of years ago, Paypal CEO claimed that Bitcoin is the biggest scam in history due to the pump and dump scenario:

https://www.forbes.com/sites/ktorpey/2018/04/24/founding-paypal-ceo-bill-harris-says-bitcoin-is-a-scam-heres-why-hes-wrong/

How funny that he threw off the hat and now considering to welcome Bitcoin and cryptocurrency in open arms.

That was the old PayPal CEO. He's no longer with the company and they hired a Bitcoin enthusiast in his place.

This shows how with new technologies the old must go for the new to be accepted. Old farts don't like changes.

https://cointelegraph.com/news/paypal-ceo-hodls-bitcoin-and-only-bitcoin

[carlfebz2]

A couple of years ago, Paypal CEO claimed that Bitcoin is the biggest scam in history due to the pump and dump scenario:

https://www.forbes.com/sites/ktorpey/2018/04/24/founding-paypal-ceo-bill-harris-says-bitcoin-is-a-scam-heres-why-hes-wrong/

How funny that he threw off the hat and now considering to welcome Bitcoin and cryptocurrency in open arms.

That was the old PayPal CEO. He's no longer with the company and they hired a Bitcoin enthusiast in his place.

This shows how with new technologies the old must go for the new to be accepted. Old farts don't like changes.

https://cointelegraph.com/news/paypal-ceo-hodls-bitcoin-and-only-bitcoin

Getting some lines in the article:

"PayPal’s CFO John Rainey said in May that the firm has teams that are working on blockchain and cryptocurrency, and that they wish to participate in that technology in whatever form it takes in the future. "
source: https://cointelegraph.com/news/paypal-ceo-hodls-bitcoin-and-only-bitcoin

and now they are already trying to pursue that thing which is a good news for me.

[MrMojoRising26]

A couple of years ago, Paypal CEO claimed that Bitcoin is the biggest scam in history due to the pump and dump scenario:

https://www.forbes.com/sites/ktorpey/2018/04/24/founding-paypal-ceo-bill-harris-says-bitcoin-is-a-scam-heres-why-hes-wrong/

How funny that he threw off the hat and now considering to welcome Bitcoin and cryptocurrency in open arms.

That was the old PayPal CEO. He's no longer with the company and they hired a Bitcoin enthusiast in his place.

This shows how with new technologies the old must go for the new to be accepted. Old farts don't like changes.

https://cointelegraph.com/news/paypal-ceo-hodls-bitcoin-and-only-bitcoin

I think they noticed that square made like 300 million in profits since having BTC available on their app. Paypal and others will follow they can't resist potential profits regardless if they like bitcoin or not.

[SteveSats]

I'll believe it when I see it. Facebook didn't have much luck last time around and I highly doubt the fine folk in congress will allow PayPal to start selling digital currencies.

[hulla]

I think the crucial word is Rumour -‘ three people familiar with the matter’ !
Here’s the full link

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

Personally I can’t see it happen

And they are currently looking to hire crypto engineers:

https://cointelegraph.com/news/paypal-is-hiring-crypto-engineers-amid-rumors-of-bitcoin-integration

I've been a Paypal user for almost a decade in receiving salaries for my work. However, due to their ridiculous high fees, I stopped using them as option for receiving payments (except when buying plane tickets from local flight carriers for most of the past two years).

A couple of years ago, Paypal CEO claimed that Bitcoin is the biggest scam in history due to the pump and dump scenario:

https://www.forbes.com/sites/ktorpey/2018/04/24/founding-paypal-ceo-bill-harris-says-bitcoin-is-a-scam-heres-why-hes-wrong/

How funny that he threw off the hat and now considering to welcome Bitcoin and cryptocurrency in open arms.

I heard about this rumor yesterday, i spent 2 hours of my time researching if the rumor was true and i find out that Dan Schulman (Paypal CEO) dont take back his previous statement about Bitcoin but he respects the trend bitcoin hold when the economy meltdown was severe.

[TravelMug]

PayPal should never, ever integrate crypto (if this is ever gonna happen) because then, centralization at mass level will take place which means that the limited control that we have, of our coins, will be stolen and we won't be able to do anything for that. It's better if PayPal sticks to its old mentality about cryptocurrencies and BTC.

I agree, but in the long run, perhaps they thought that they can make more money by using bitcoin's name and create a lot of noise, that's why they finally decided to get their nose on it and to look that they are pro-crypto after-all.

We have seen a lot of haters few years ago, but they are changing their tune. Perhaps there are really a big demand on the market, no it's a win-win situation for them.

[giammangiato]

I'm sure we all heard the rumor by now I will believe it when I see it, but it would be pretty cool to have friends venmo you some BTC!!! or BTC friends and family paypal payment option Im not sure how this unfolds but It is a good start for all the nocoiner friends of ours to see bitcoin as a payment option on paypal or venmo. I hope there is some truth to the rumor just to have more widespread adoption. Although screw the middleman always taking a cut of our money! That would be some real irony having bitcoin being used and some third party taking a cut But every company takes a cut in fees or whatever so be it I guess. I'm looking forward to hearing your opinions on this

The idea of ​​paypal is only to adapt to the market. Since some months ago revolut and hype have already implemented the possibility of buying BTC and keeping them in their wallets. I think he's a wallet costodian like revolut's wallet, so you can only buy them, sell them, possibly spend them but not move them.

[meanwords]

We already have a topic for this, here: Topic: 325 million new potential users https://bitcointalk.org/index.php?topic=5257445.0

Yeah, and there's more coming from other users lol.

The idea of ​​paypal is only to adapt to the market. Since some months ago revolut and hype have already implemented the possibility of buying BTC and keeping them in their wallets. I think he's a wallet costodian like revolut's wallet, so you can only buy them, sell them, possibly spend them but not move them.

I think that's what's paypal planning to do, to be a third-party wallet application for Bitcoin users. To be honest, I only see one advantage and a lot of disadvantages. The advantage is that they might make an on-chain wallet which would make transactions fee free or at least cheaper from wallet to wallet (paypal users only) but the disadvantages are it's just a normal paypal wallet, they can do whatever they want if they found some slight issues in it. They can ban you or prohibit you from their services, heck they might even prevent you from moving your own money if they think that it's "Dirty" money. You don't control your own Bitcoin.

I don't know much though because this are just "rumors". We can only speculate.

[BrewMaster]

i said this on Reddit too, i think all those who are believing this rumor are most probably going to be very disappointed soon as Paypal reveals their very own shitcoin which is based on bitcoin instead of adopting bitcoin itself. after all they are looking to make profit and nothing is as profitable as creating your own pre-mined shitcoin and controlling it 100% since it is going to be centralized.

[Ibizugbe1]

If the rumor turns out to be executed, it will be a big win for bitcoin, because many persons will then to expose to cryptocurrency, although one's account can be locked by Paypal that is centralization. This will set out a swift competition among fintech.