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.

[Gotumoot]

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.

They are not little they are a huge step for crypto and would have a huge effect for all of us and they are for a long term effect for sure.
Those system,company or business that took part on promoting crypto and accepting it on their own as a payment or even offer us to make them as an online wallet for our crypto are a huge step for publicity and attraction.

[daarul50]

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.

Great thread over there kevin
I do understand regarding the privacy and freedom concern
That is the most valueable thing for an early adopter like you or me or most people around this forum im aware
But here is the problem , those people out there has different perspective about this privacy stuff, they are not ready if we serve a full conception of decentralized system they will leave with thousands questions in mind when you try to introduce a full package of bitcoin vision , those people out there are not ready.
They should getting ready with paypal freely promoted bitcoin, maybe this will take a long time but that is the worthy cost.

[Zilon]

For me it is a welcome development if PayPal can accept bitcoin as a means of payment. Meaning more people can actually have access to this coin with little stress. This will in turn make this coin available to many. Paypal would become a better alternative if their exchange rate is minimal or cheaper than other Crypto agencies. I see this as a welcome development

[Beyerd17]

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.

As far as I know paypal is required by law to block accounts they suspect is used for criminal activities and/or money laundring, just to mention a few cases.

On a second note Paypal is not a nonprofit organisation and never has been. They are just like any other for profit company and noone should be surprised by this, there is no need to hate them.

Noone is forced to use Paypal and since they have millions of users, their customers see benefits of using their service.

[gurjasmeetsingh]

I think lot of companies are trying to copy of  working  & wants to stand in the market, & showing as sister concern  of bitcoin. But l think  bitcoin is standing in the market by his efforts to grow up day by day with good management. So their is no substitute of bitcoin. Because lot of people have good trust in crypto currency.

[imstillthebest]

I think lot of companies are trying to copy of  working  & wants to stand in the market, & showing as sister concern  of bitcoin. But l think  bitcoin is standing in the market by his efforts to grow up day by day with good management. So their is no substitute of bitcoin. Because lot of people have good trust in crypto currency.

trying to copy ? copying is bad and they can get into serious trouble if they do that , you mean teaming up or to partner with btc ? thats not copying if thats what you mean .

btc is the only crypto that is leading so far and if someone partners with it , they cant stand out because they arent a crypto but they can stand out on thier own field . substitutes for btc or alternatives are okay because this will make others life easier if they find it hard to understand btc directly

[oprahwindfury]

One of the best feelings for the bitcoiners as it is now a part of paypal.Already bitcoin is moving ahead day by day and this paypal acceptance will make the speed more faster.The more  development will be Seen very soon.Enjoying time for the Bitcoiners.So all the best.

[CryptopreneurBrainboss]

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.

No kiyosaki had no impact on the space instead they (him and others) were lucky to have believe in the movement sooner before the rest joined judging based on the price as of when he started tweeting bullish bitcoin stuff compared to now. The whole idea of giving the praise to just one individuals is an old way of reasoning. The momentum of bitcoin has been steadily increasing not forgetting we anticipate it based on the halving of the block reward that contribute towards scarcity of the coin and create demand which result in price increase.

The only reason bitcoin isn't trading above it's previous all time high of $20k is as a result of the uncertainty still in the space due to the pandemic. Assuming we held strong during the march market meltdown the storyline today would had been different as there would had been more enthusiasm in the community pushing the price upward.

[Rebek]

More real case use of bitcoin can increase the adoption of crypto. A lot of big things are happening around bitcoin lately, most of the altcoins wish they could rally around it so we could have a bullish run for the entire crypto market. Crypto needs established brands that can incorporate the use of bitcoin in their operations to generate more interest in the use of crypto.

[Nazmul012]

acceptance of bitcoin by paypal, is already start pushing bitcoin for Attempt to hit another ATH like 2017. Due to large number of paypal network, more people will going to addressing with bitcoin, involve with bitcoin by using such kind of service even possible to start bitcoin transaction directly without paypal.i believe, others institutions & largest companies are on their way to accept bitcoin presently

[JahriMeayer]

Recently American election and paypal make contribution for fueling the price of bitcoin, that makes bitcoiners happy.from now, new comers can easily learn about bitcoin even the whole crypto platform through paypal cause both of them are in connection now. this is just a beginning and soon lots of organigations and platforms are going to adopt bitcoin soon.and that helps bitcoin to gain another milestone.

[Dorodha]

By supporting PayPal Crypto has further increased the demand for Bitcoin. Countries that do not support crypto will be able to easily transact in Bitcoin via PayPal. Even without the support of the government you can easily learn about Bitcoin on the platforms. Cryptocurrency has now developed into a suitable payment method PayPal says Momentum Builds for Bitcoin hopes to make the concept of cryptocurrency more clear to consumers. They will also share some educational content with customers as part of this offer great opportunity to improve crypto.

[Bitstar_coin]

i think the momentum was already building underground ever since the btc halving only that now is the time it has come to the limelight, now it has reflect on price and everyone can see that now, after halving, there have been some major news about btc but the one that bring the spike the most was the PayPal news, this news really bring lots of new attention to btc, irrespective of our opinion about PayPal, they contribute alot to this recent pump, and i believe more are coming.