Do you think this is the start of mass adoption in Bitcoin? or Nah?

[carter34]

Do you think this is the start of mass adoption in bitcoin? or Nah?

The answer is obvious and it s yes, bitcoin will be more accepted and be used by people, people trust PayPal. But, people will be ignorant of the fact that PayPal is just a third party, some people will not know about private key at all, which is still the continuation of centralization. But the main aim of bitcoin creator was to make a currency that will be fully decentralized but this is being compromised by the centralized world. But, people that know about bitcoin very well and have expert view about it will still be able to use bitcoin in a decentralized form but while many people are not bother, in one way or the other, people that are not bother are susceptible to scammers and hacks, although, it can be indirectly.

I believe that bitcoin as a decentralized coin is one leading factor that people are attracted with. Surely, if it was centralized, it won't gain the kind of acceptance and adoption it enjoys today.

[hatshepsut93]

But in my opinion, this is better than using a third-party P2P platform

But P2P trades are still a minority of Bitcoin's volume so you should compare PayPal's new service to centralized exchanges, and in this case PayPal loses, because it has all of their negatives, like KYC and not your keys not your coins, but on top of that you can't actually withdraw your coins to mitigate those flaws. I personally would use every last alternative, before buying PayPal's "Bitcoin" that you never really own.

[MCobian]

Of course the positive thing is knowing a platform as big as Paypal finally accepts Bitcoin, this can increase the popularity of Bitcoin.
Because more and more people will start to believe in Bitcoin if Paypal accepts Bitcoin, this will indirectly increase the demand for Bitcoin.
But I don't agree if this can start mass adoption in Bitcoin, because Paypal is not a merchants. After all, Bitcoin transactions can only
be done on the Paypal platform for now.

[milewilda]

Do you think this is the start of mass adoption in bitcoin? or Nah?

Adoption is always on the move as the years had past which we can really see the progress since there are merchants that do gradually adding up bitcoin into their payment options.
On the current news we are in specially talking about Paypal then we cant deny that this is indeed a great news since we know on how big is Paypal in terms or payment processors that do
exist as of today and now they had decided to add up bitcoin into their options which is something that will really be giving out some positive insights into those other companies out there.
If paypal do able to do so then why wouldnt try it too? This will or might not be a catalyst for further adoption but at least we do able to convince out Paypal in regards to Bitcoins true relevance.

[The cure]

Maybe when this happens that paypal is already accepting crypto, this is a good start for more people to trust cryptocurrency more firmly, and it could lead to mass adoption. Because we know that many are already using paypal and it is already known, so it will be a stronger foundation of crypto for mass adoption.

[maxreish]

Haven't we started the mass adoption even before Paypal announced to accept bitcoin and other cryptocurrencies?
 
 

PayPal has entered the cryptocurrency market, announcing that its customers will be able to buy and sell Bitcoin and other virtual currencies using their PayPal accounts.

 We can buy, sell and even hold cryptocurrency such as btc, eth through paypal. With this of course, will push through the mass adoption. However, they are also planning to use bitcoin payments to merchants thru paypal next year. If ever this will gonna continue to be launched, it will encourage the global use of bitcoin and will increase the adoption of cryptocurrency. Having this new platform service will then be improved crypto market as we know many are looking forward for Paypal to finally accept cryptocurrencies.

[gentlemand]

I'm not even sure we're in the early adopters phase yet, let alone heading towards mass adoption. How many people have had a taste of BTC? A few tens of millions at the most perhaps. The theoretical masses would be anyone with some internet access and a need or use for it which means a few billion people.

When you're up to your eyes in it it's very easy to have pisspoor perspective. In real terms it's still an outlier.

As for Paypal, it doesn't get much more in your face than that but I think it may be a slow burn. It's no use for shopping, why would you buy something to buy something? The only thing it is useful for is mad gainz. Let's see how many seek them out.

[Sadlife]

Paypal is a multibillion company that is used by many people and businesses globally across the world, so yeah i think this is the start of more company and Institutional investors trading, buying and selling it. Because the concern of the regulatory system with a threat of a financial crisis. Even big gold investors such as DavinciJ15 is selling his Gold for Bitcoin. Also CNBC change their opinion to Bitcoin being a viable investment during this uncertain times.

[rodskee]

PayPal Will Start Accepting cryptocurrency such as Bitcoin BitcoinCash Ethereum and Litecoin at the beginning of early 2021.

Many users are taking this negatively because Paypal is Centralized
But in my opinion, this is better than using a third-party P2P platform
if we will talk about PayPal to Bitcoin trade this is a common trade that scam happens

As long as this is not asking for KYC then why now?if this event will preserve our privacy and security i will surely support this Paypal -crypto bonding.

i experience it before when i need to pay in some website where they don't accept bitcoin
i sell my bitcoin in the third-party P2P platform the scammer chargeback in PayPal and i never get my bitcoin back
even i don't plan to use PayPal anymore i don't a have choice because this is a platform that almost accepted everywhere
but it will be different if i can put some bitcoin in PayPal instead and trade it directly on their platform

This is the problem if your country does not support or having  a hard thing towards crypto you have no other option to convert your bitcoin into fiat.

we all know and need to accept the fact that we cant use bitcoin everywhere
with paypal adoption bitcoin have a higher chance of merchant accepting bitcoin independently

well paypal doesn not even available in the whole world so there is no need for expectation big.

Not your keys, not your coins are one of the reasons of some users but holding bitcoin in PayPal is optional
the same in exchange and other centralized platforms. only put what you plan to use, trade, or afford to lose.

Do you think this is the start of mass adoption in bitcoin? or Nah?

Mas adoption is too much to expect just because paypal has a deal towards crypto,remember that america don't represent the whole world.

[tbct_mt2]

How many people on the Earth use PayPal and how many bitcoin enthusiasts accept risk of chargeback on PayPal to do all of their transactions with PayPal. With Bitcoin transactions, they can get privacy (if they know how to manage their wallets and use Coin Control feature in non-custodial wallets) and they can also get anonymity at some levels with Coin Join transactions or with bitcoin mixing services.

With PayPal, besides chargeback, you can not get privacy and anonymity so why should accept PayPal while people have better choice, bitcoin.

[LogitechMouse]

It's not even optional

Look at this:

The key word there is "CURRENTLY".
Possible that they will aren't implementing it as of this moment since it is still new but maybe, just maybe they will add it in the future.

For now, I will not touch my Paypal account in order to buy any Bitcoins in this app. There are many and better options into where to buy Bitcoins and the fact that you can't transfer it as of this moment is already a red flag for me. Maybe if they will allow transferring of Bitcoins then I might decide whether I will try it or not.

[bayu7adi]

I believe in PayPal, even though this is still an early stage, to anticipate big losses is not to buy a large amount of Bitcoin on PayPal. We don't invest Bitcoin in PayPal, if you want to buy Bitcoin in large quantities, there is a safer place than a company that recently adopted Bitcoin.

PayPal provides solutions to us as the OP describes

we all know and need to accept the fact that we cant use bitcoin everywhere
with paypal adoption bitcoin have a higher chance of merchant accepting bitcoin independently

[CODE200]

PayPal Will Start Accepting cryptocurrency

this is a bit weird to say though. PayPal is not a merchant to accept bitcoin but they are a service provider that has been providing payment services and online wallet option to people. now they have added the option to work with bitcoin too.
the way i see it this is another way for them to make more money from commissions while keeping their users and won't affect adoption of bitcoin.

It is the influence that will benefit this industry but not really what PayPal did. Ofcourse, PayPal will be the one who will benefit more from doing so, but to look in different perspective, given how huge this network is, it could lift the confidence of other companies, businesses who are doubting the advantages of this technology. 'coz no matter how we put things here, mass adoption of cryptos are being stopped by doubts due to issues concerning decentralization and volatile market value.

[figmentofmyass]

I'm not even sure we're in the early adopters phase yet, let alone heading towards mass adoption. How many people have had a taste of BTC? A few tens of millions at the most perhaps.

we've gotta be in the early adopters phase. these are just marketing terms so we should take them with a grain of salt anyway, but between 2.5-16% market penetration = early adopters. after that comes the "early majority".



various surveys of bitcoin ownership (at least in places like the USA) have it at 5-10% of the population. in fact, that was a year or two ago.

[Rodeo02]

PayPal Will Start Accepting cryptocurrency

this is a bit weird to say though. PayPal is not a merchant to accept bitcoin but they are a service provider that has been providing payment services and online wallet option to people. now they have added the option to work with bitcoin too.
the way i see it this is another way for them to make more money from commissions while keeping their users and won't affect adoption of bitcoin.

It is the influence that will benefit this industry but not really what PayPal did. Ofcourse, PayPal will be the one who will benefit more from doing so, but to look in different perspective, given how huge this network is, it could lift the confidence of other companies, businesses who are doubting the advantages of this technology. 'coz no matter how we put things here, mass adoption of cryptos are being stopped by doubts due to issues concerning decentralization and volatile market value.

In addition how Many users they have it will make it easier for them now to buy using PayPal I am sure many is tempting to have that option and waiting for that great news that they will add it . and this will make mass adoption for its users and many will realize how good to have bitcoin as investment since its now easier for them to buy they will buy.

[dansus021]

The answer is obvious and it s yes, bitcoin will be more accepted and be used by people, people trust PayPal. But, people will be ignorant of the fact that PayPal is just a third party, some people will not know about private key at all, which is still the continuation of centralization. But the main aim of bitcoin creator was to make a currency that will be fully decentralized but this is being compromised by the centralized world. But, people that know about bitcoin very well and have expert view about it will still be able to use bitcoin in a decentralized form but while many people are not bother, in one way or the other, people that are not bother are susceptible to scammers and hacks, although, it can be indirectly.

wow paypal news is spreading everywhere but i agree with this guys most people not know about private key and as i know company like paypal will get in trouble if someday if turned into scam

[pixie85]

The recent purchases of Bitcoin by companies as a hedge against the crisis and bank shutdown and now PayPal are going to build a positive image of Bitcoin in the heads of all those who were considering it in 2016 and 2017 but were told by the mainstream media that it's a bubble.

It's an important step on the road to adoption. If PayPal could get us 2000 USD up this month what will other institutional investors do?

[PonZZ]

I'm not going to buy bitcoin this way, but I consider such news as extremely bullish. PayPal new features will make Bitcoin more user-friendly. It's a big step towards the mass adoption.

[Gotumoot]

I would say yes but people shouldn't forget that Bitcoin was created to be decentralized so they should find their own wallet and hold all their crypto on their own not on another centralized platform,
Just remember not your Keys not your coins.
So for those who would start to invest in crypto because of this mass adoption or because of Paypal's acceptance we should teach them properly and open their eyes about crypto.

[Wapfika]

I'm not going to buy bitcoin this way, but I consider such news as extremely bullish. PayPal new features will make Bitcoin more user-friendly. It's a big step towards the mass adoption.

Every adoption of big companies plays important factor for bitcoin price to keep on rising. Whenever there are companies who will adopt can make other companies or people to think of using it as there are companies who already risk or support it. It's an addition to those PayPal users who didn't want the way how bitcoin transactions works before. Soon more companies will adopt because of this move made by PayPal.