Momentum Builds for Bitcoin

[OROBTC]

...

Recent events look to be very positive for BItcoin acceptance as well as price gains.  Very...

-- My own experiences with LibertyX (purchase BTC for less than 2% premium at 7_Eleven and CVS ($500 worth), see https://bitcointalk.org/index.php?topic=5257626.0)
-- I am waiting on BitPay's debit card, which gives a nice off-ramp way to "cash-in" BTC, an important step
-- And, of course, PayPal's recent decision to allow exchange of BTC (which I presume makes AMZN purchases using BTC)

Each of the above means relatively little in the short-term on their own, but WILL mean more as time goes on and more people enter the Bitcoin Ecosystem using one or more of the above services.

Based on the above pretty recent developments, I have to presume that more useful services are on their way.

Which will be BIG in time.  


(Edited for clarity)

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[Darker45]

Big things are happening right now. I don't consider them relatively little developments even in the short-term. What you mentioned are huge milestones for Bitcoin and cryptocurrency in general, especially the entrance of Paypal in the cryptocurrency market, allowing its large number of users to buy and sell Bitcoin using their Paypal accounts. All this signifies wide acceptance.

As regards the price, even the news itself is enough to add around a thousand USD more to Bitcoin's price in just a matter of hours. I guess this is just the beginning of the kind of Bitcoin adoption we'll see in the future.

[Parking_Meater]

It's a move but if you do look at the detail of paypals plan as some critics have it seems to be the Robin Hood of bitcoin and crypto. You don't actually own it. I def feel that custodial services kind of have a place and would be a very lucrative business and if you work in IT you know how tech inept most people are; they wouldn't have a chance "being their own bank" It will be interested to see what and how pay pal makes their moves.

[Lorence.xD]

Big things are happening right now. I don't consider them relatively little developments even in the short-term. What you mentioned are huge milestones for Bitcoin and cryptocurrency in general, especially the entrance of Paypal in the cryptocurrency market, allowing its large number of users to buy and sell Bitcoin using their Paypal accounts. All this signifies wide acceptance.

As regards the price, even the news itself is enough to add around a thousand USD more to Bitcoin's price in just a matter of hours. I guess this is just the beginning of the kind of Bitcoin adoption we'll see in the future.

The development is subjective for each individual. Many do think that it is a milestone while others are still skeptic, no point in arguing because they are still a positive. Big news in any way though because Paypal are trying to be the forefront in this integration development.

[avikz]

The developments around bitcoin eco system looks super positive right at this moment. The price is almost on the verge of breaking 12k barrier. I believe Paypal's recent announcement has given the much needed strength to bitcoin market because Paypal has over 346 millions of merchant in 200 countries. If they are able to use bitcoin starting from next year, I can simply think of the volume bitcoin will be getting from this. This is huge and a very important milestone for the community! 

[davis196]

The news about Paypal allowing cryptocurrency payments are everywhere on the internet.
I still hate Paypal and I still think that they are a scam company,which is ripping off it's own customers with insane fees and blocked accounts.The news about Paypal becoming crypto friendly won't make me change my mind.This company will continue to rip off it's customers,but this time they will use cryptocurrencies instead of fiat money.
Anyways,the Bitcoin price was pumped,because of this news.Time to make some easy profits.

[pooya87]

Big things are happening right now. I don't consider them relatively little developments even in the short-term. What you mentioned are huge milestones for Bitcoin and cryptocurrency in general, especially the entrance of Paypal in the cryptocurrency market, allowing its large number of users to buy and sell Bitcoin using their Paypal accounts. All this signifies wide acceptance.

i disagree.
it is not a big milestone for bitcoin at all. a big milestone would be when retailers start accepting bitcoin directly and people start spending bitcoin day to day to buy things such as groceries. otherwise a payment processor with high fees and lots of issues such as chargeback scams letting its users buy bitcoin is not big.
and in short term, it can cause some hype which is why the importance of it in short term is  very small. but in long term as it allows more people to dump their fiat using different methods for bitcoin it is a good thing.

[SnapExOfficial]

Big things are happening right now. I don't consider them relatively little developments even in the short-term. What you mentioned are huge milestones for Bitcoin and cryptocurrency in general, especially the entrance of Paypal in the cryptocurrency market, allowing its large number of users to buy and sell Bitcoin using their Paypal accounts. All this signifies wide acceptance.

i disagree.
it is not a big milestone for bitcoin at all. a big milestone would be when retailers start accepting bitcoin directly and people start spending bitcoin day to day to buy things such as groceries. otherwise a payment processor with high fees and lots of issues such as chargeback scams letting its users buy bitcoin is not big.
and in short term, it can cause some hype which is why the importance of it in short term is  very small. but in long term as it allows more people to dump their fiat using different methods for bitcoin it is a good thing.

Very well said there, when do you think we will start to see these retailers start to accept bitcoin and crypto payments?

What do you think is holding them back? In the meantime - come buy some BTC at SnapEx today!

[Xembin]

 I saw the trend over some days now, I think is a welcome development to all bitcoin platform for what they have been hoping for to come through in the exchange market to attract more bitcoin users positively in the platform. Many retailer will now find it easy to spend their bitcoin well in a way it will help them to improve their customers not to loose their coins.
Bitcoin price will still more stable the way it is now,that is making many people wondering that it will not pump Last in this season. I think the trust many users have for bitcoin  for this new development in the market will make bitcoin to be positive through out this season.   

[pooya87]

~
Very well said there, when do you think we will start to see these retailers start to accept bitcoin and crypto payments?

What do you think is holding them back?

on a very small scale the adoption begun years ago. there are currently many small merchants to big companies that are accepting bitcoin as payment. for example you can find a list of big companies here.

but it is nothing major, and i believe the only thing that is keeping it from mass adoption is the volatile price which keeps growing over time and that makes people think of bitcoin more as an investment rather than a currency they use. so when not that many people are willing to spend their bitcoin, not that many merchants would accept it as payment.

of course adoption is a lot more complicated than this and need extensive study to figure out what are all the factors contributing to it or preventing it from happening.

[Assface16678]

Big things are happening right now. I don't consider them relatively little developments even in the short-term. What you mentioned are huge milestones for Bitcoin and cryptocurrency in general, especially the entrance of Paypal in the cryptocurrency market, allowing its large number of users to buy and sell Bitcoin using their Paypal accounts. All this signifies wide acceptance.

i disagree.
it is not a big milestone for bitcoin at all. a big milestone would be when retailers start accepting bitcoin directly and people start spending bitcoin day to day to buy things such as groceries. otherwise a payment processor with high fees and lots of issues such as chargeback scams letting its users buy bitcoin is not big.
and in short term, it can cause some hype which is why the importance of it in short term is  very small. but in long term as it allows more people to dump their fiat using different methods for bitcoin it is a good thing.

But what happened recently may contribute to the mass adaptation of cryptocurrencies, right? So we can consider it as a milestone already. But I do get the point that it does not guarantee acceptance across the globe. I just choose to appreciate this because it is something to consider as "rainbow after the rain". How? This year has been through a lot both in this industry and world in general. In terms of this market, the prices gone up and down early this year not to mention issues of banning Bitcoin in some countries such as in U. S. This could be a great thing to happen in this industry. Take not of "could be", but atleast it has a chance.

[Darker45]

Big things are happening right now. I don't consider them relatively little developments even in the short-term. What you mentioned are huge milestones for Bitcoin and cryptocurrency in general, especially the entrance of Paypal in the cryptocurrency market, allowing its large number of users to buy and sell Bitcoin using their Paypal accounts. All this signifies wide acceptance.

i disagree.
it is not a big milestone for bitcoin at all. a big milestone would be when retailers start accepting bitcoin directly and people start spending bitcoin day to day to buy things such as groceries. otherwise a payment processor with high fees and lots of issues such as chargeback scams letting its users buy bitcoin is not big.
and in short term, it can cause some hype which is why the importance of it in short term is  very small. but in long term as it allows more people to dump their fiat using different methods for bitcoin it is a good thing.

I understand. This is, of course, very far from what we really want to see, far from the ideal. But I just think it is significant enough event to be considered a milestone for something as large and popular as Paypal to let its users buy and sell Bitcoin. Whether or not its users will actually do so is a different story. But at the very least, it means Bitcoin is being conveniently made available to hundreds of millions of people around the world. Somehow, it may also mean Bitcoin is not anymore a sort of an enemy or a threat or something like that. Or at least it promotes Bitcoin somehow and dispels the old prejudice that it is a criminal's money.

In my country, there is a local app which accepts Bitcoin payments. It makes it appear as though Bitcoin is really accepted because you can pay your water bills, electric bills, credit card bills, and so on; book flights, hotels, bus, ferries, and so on. But what really happens is that everything is settled in fiat and so the Bitcoin in the transactions is simply an IOU because Bitcoin, in the first place, is not recognized as a legal tender. Somehow, however, I consider it a huge milestone because it means people can make use of their Bitcoin aside from just playing with its price.

Paypal's Bitcoin is something like this, at least for now and in the early 2021 when it could be paid to partner merchants. But it's probably just the beginning of something bigger. Although it is really a big disappointment that users cannot deposit or withdraw Bitcoin. 

[20kevin20]

While the list of possible ways to use Bitcoin has now grown considerably with PayPal's acceptance, I don't see it as a big momentum. A company like PayPal or Revolut that supposedly lets you store crypto but really doesn't isn't helping with our growth. A currency you can only deposit but never really withdraw is imo a false currency. The virtual version of an already virtual crypto. You should be able to move it the way you like, exactly like you're allowed to move USD from your bank to PP and vice versa.

[tsaroz]

This year has been great for bitcoin and every of the metrics points out to bright future for bitcoin.
Decrease in fresh minted coins, institutional investors buying and hoarding of bitcoin, many business accepting bitcoin as a payment, payment processors making crypto trade-able and transferable. Many platforms, dapps and defi locking/freezing bitcoin to issue bitcoin backed token to facilitate trade. These various reasons are making bitcoin adoption and use popular and with lesser of those coins out their in supply and ever increasing demand, we'd soon see a rise in price for bitcoin.

[Myleschetty]

This year has been great for bitcoin

This year was great for Bitcoin but i think it all hapen because the powerful price Bitcoin was maybe to hold during the total lockdown and Kiyosaki believe in Bitcoin.

[daarul50]

While the list of possible ways to use Bitcoin has now grown considerably with PayPal's acceptance, I don't see it as a big momentum. A company like PayPal or Revolut that supposedly lets you store crypto but really doesn't isn't helping with our growth. A currency you can only deposit but never really withdraw is imo a false currency. The virtual version of an already virtual crypto. You should be able to move it the way you like, exactly like you're allowed to move USD from your bank to PP and vice versa.

Everybody aware about this and doesnt care.
Why? Pretty simple that was not something really bad, that was not a crime?
As long as it has great impact on spreading awareness that the bitcoin future here has arrived in paypal, people love to welcome it.
Let the hype begin.
This is of course a rare momentum , how can you say that was not? Even though yes we have to anticipate the unexpected , let it flow , building a momentum now or never , the post-halving hope to get price quadrupled is back alive.

[dothebeats]

I'm also waiting on that Bitpay debit card since there aren't much service providers out there that are really worth getting or are really trusted in the field. That's actually one of the areas that is lacking for bitcoin, avenues to use their bitcoins aside from using it as an investment vehicle. On the speculators' side, seeing a lot of big names in the industry coming in to the field actually boosted their 'belief' on the good performance of bitcoin in the coming weeks/months. They are banking on the fact that more and more people will see the same thing and they wanted to get in early when the profits come in, and so they already bought some bitcoins and stimulated the market as early as the announcement of PayPal.

[verita1]

BitPay is a solid product that is advancing, achieving commercial alliances to offer more to its users. BitPay prepaid MasterCard is without a doubt what any crypto enthusiast would like to live in crypto.

https://twitter.com/BitPay/status/1318657998101807105?s=19


I agree that despite the current crisis, Bitcoin has managed to consolidate more around the world. The developers have been able to advance in stages to offer the public their products that will satisfy their needs.

[LogitechMouse]

Year by year, there are some events that are happening with regards to Bitcoin.
We know already that year by year, there are more people, institutions and big companies who are supporting it either advertising it or buying it itself.

I know that these are just relatively small milestones but there will be a time that some big companies or merchants will accept Bitcoin as a payment.

[20kevin20]

Everybody aware about this and doesnt care.
Why? Pretty simple that was not something really bad, that was not a crime?
As long as it has great impact on spreading awareness that the bitcoin future here has arrived in paypal, people love to welcome it.

It's just sad to see that so many people would literally sacrifice anything for a % they earn. PayPal integration with restricted usage and utility means more ways to spend Bitcoin but less chances for privacy & decentralization to succeed like it should.

Let the hype begin.
This is of course a rare momentum , how can you say that was not? Even though yes we have to anticipate the unexpected , let it flow , building a momentum now or never , the post-halving hope to get price quadrupled is back alive.

I wouldn't take this as a key moment moment for BTC. Hypes are exciting and all, but in the end it's the future I dreamed for at stake. You could read this thread I wrote a while ago to see why I personally think it's not a great moment of our community but actually the opposite. But each for their own, of course.