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

[BeManga]

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

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

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

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?

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[Oshosondy]

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.

[Bttzed03]

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

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

Did you just praise and criticized Paypal at the same time?

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

But merchants will be paid in fiat (USD) and not BTC. Paypal will only act as an exchange converting whatever customers pay in BTC into USD. I doubt the merchants will even know what payment method the customers used.

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.

It's not even optional

Look at this:

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

If merchants can accept BTC payments directly. I doubt if otherwise.

[avikz]

Pypal's acceptance of cryptocurrency will definitely boost the confidence among the mass about cryptos! So yes, possibly we can call it a great push towards mass adoption. However, from what I know, paypal will not provide wallet services. It will just allow people to transact in cryptos through an intermediary.  I am not sure how it will work in reality but I guess it will definitely bosst the confidence of people! Let's hope for the best!

[ChrisPop]

The key to mass adoption is patience and steadily increasing the base of merchants (which so far is happenings) and implicitly people who trade goods/services using cryptocurrencies. PayPal is making a strategic obvious move in the current market environment where so many personal finance start-up raise up like mushrooms after the rain.

[TedMosby]

-snip-

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

-snip-

yeah, I am thinking of the same thing.
we cant use bitcoin as payment via Paypal.

but..

when merchants accept PayPal as a payment method, we already have a chance to pay them with bitcoin indirectly.
we can contact them to offer p2p bitcoin payment with a little bit of bridging about bitcoin integration on Paypal.  

[The Cryptovator]

If PayPal does not allow to transfer of bitcoin in off PayPal means the transaction will be between PayPal to PayPal. So the transaction will not broadcast into the blockchain. Here is the real concern, because of chargeback. It would some internal algorithm inside PayPal for off-chain transactions which is possible chargeback by PayPal. Chargeback will hit the decentralized system and it wouldn't adopt bitcoin in any way. PayPal would keep their role in bitcoin adoption if they allow both on-chain & off-chain transaction. Also, I am worried about fees as well, but not sure how about their terms regarding overall fees.

[BrewMaster]

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.

[fiulpro]

Mass adoption of bitcoins is not an option until and unless more than 50% of the population theoretically uses the crypto.
We have 16% of the world population living without electricity and even much more without internet , to make cryptocurrencies like Bitcoins more acceptable we have to make sure to include these basic needs and it needs to start with education.

We still have decades when people will start using the online banking regularly since despite the option most people around the age of 40-50 and up , prefer traditional banking.

I know nothing about mass adoption right now. But I do know that it's getting excessively famous with regards to people who are tech savvy or the one's looking for an investment opportunities.

At the same time due to pandemic it have helped a lot of people to find work, go international therefore people have a positive image with regards to bitcoins right now. Give it more time , more freedom then we can think about the mass adoption.

[ChrisPop]

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.

Although I agree with you to some extent, this will affect Bitcoin adoption just by the massive publicity it will get. Just think about the millions of people who use PayPal on daily basis. They simple fact that they will see the Bitcoin logo (probably) and will have the choice to select it as a method of payment is enough. After all cryptocurrencies are not meant to be used in a centralized fashion. But free publicity is always welcome.

[CryptoPoliticalEnthusiast]

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.

Agree with this. I don't trust PayPal in anything. They will just use this to fill their pockets more, and with cash not Bitcoin.

However, it gets the message out. That's still big.

[dothebeats]

This is not enough. They will have a platform to buy, but what about their avenues to spend or use their bitcoins apart from just keeping it as an investment? It has to be more than that IMO, though PayPal accepting cryptocurrencies is already a welcome development. More and more people will see this thing regarding bitcoin and cryptoccurencies; it will arouse their curiosity until they encounter this complicated world of trading cryptocurrencies and they will soon take part in it. Though of course, only a little percent of that curious minds will actually start buying since only some of them will understand what's in store for them if they hold, and a major lot would probably wonder what to do with it if there aren't enough shops that accept it.

[taufik123]

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.

Paypal will have many more advantages and paypal will continue to be used. Cryptocurrency users who previously did not have a paypal account will certainly create a paypal account to be able to use the service. This is a new breakthrough made by paypal. Apart from bitcoin, several other cryptocurrencies will be added such as ETH, LTC and BCH.

When making payments using virtual coins such as BTC and ETH, paypal will convert them into the relevant national currency, so that companies providing goods and services are still paid using the national currency but with pre-converted cryptocurrency intermediaries.

Paypal is a tranding topic today. this is the beginning of the mass adoption of Bitcoin and of course there will be more to come.

[LTU_btc]

I never expected that such day will come. If someone would have said 5 years ago that PayPal one day will start accepting Bitcoin, I would call him stupid.
It's very big news, it definitely will boos things. But I think we won't have such mass adoption as we all imagine anytime soon, maybe never. There is many reasons why. I doubt that one day crypto will be used by most of population. I don't think that people will start spending their Bitcoins daily as they do with fiat, they will still keep it as investment asset. Also, this PayPal step won't change attitude of governments and legal status of Bitcoin in some countries. BTW, maybe I missed something, but there is no information, will Bitcoin on PayPall will be available worldwide or just in few countries like USA?
I really don't like PayPal. They can close your account or froze funds for whatever reason they want. I started to use Bitcoin to avoid such full control and I can't imagine myself trading Bitcoin on PayPal.
And another question. Will it be possible to send Bitcoin outside Paypal account to initial address or it will be fake cryptocurrencies like on Revolut where you can't do anything with it except buying and selling it.

[BrewMaster]

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.

Paypal will have many more advantages and paypal will continue to be used. Cryptocurrency users who previously did not have a paypal account will certainly create a paypal account to be able to use the service. This is a new breakthrough made by paypal. Apart from bitcoin, several other cryptocurrencies will be added such as ETH, LTC and BCH.

When making payments using virtual coins such as BTC and ETH, paypal will convert them into the relevant national currency, so that companies providing goods and services are still paid using the national currency but with pre-converted cryptocurrency intermediaries.

Paypal is a tranding topic today. this is the beginning of the mass adoption of Bitcoin and of course there will be more to come.

what you explained doesn't sound like "mass adoption of bitcoin" but more like mass adoption of "paypal" instead!
people aren't going to be using bitcoin to pay for stuff but they will be using this third party centralized service to sell their bitcoins to so that they could use paypal dollar to buy stuff with!
besides you can not withdraw the bitcoin you bought as far as i can tell by reading the news sites which is another indicator that it is not "bitcoin usage".

[Viscore]

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

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

Looking forward how Paypal will successfully be integrated to the crypto space, finally.
This is not only a thing that I've watching and waited for, some big companies are already accepting Bitcoin and PayPal is not an influential though, so it never gives a huge impact then to the market. However, this will pertains to something that more and more companies are moving in to crypto space.

Start of mass adoption? We are already been started quite long, only it happens that the adoption isn't that fast as we thought. And yes, this is one of the results in regards to adoption.

[Baofeng]

Pypal's acceptance of cryptocurrency will definitely boost the confidence among the mass about cryptos! So yes, possibly we can call it a great push towards mass adoption. However, from what I know, paypal will not provide wallet services. It will just allow people to transact in cryptos through an intermediary.  I am not sure how it will work in reality but I guess it will definitely bosst the confidence of people! Let's hope for the best!

Yeah, and because Paypal has a lot of users, this might get crypto to mass adoption, but we have to think that it won't happen that quick though, it will take years before we can see it. As for this news, this is positive, because for me, we need third party to really get the ecosystem and global adoption going. I know it sounds weird, because we wanted a p2p, but having Paypal will add as intermediary will somewhat increase the usage of bitcoin so it will have a net positive effect in the future.

[figmentofmyass]

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

it's a good thing. paypal is not the end goal---it's a means to an ends.

sure, when the paypals and fidelitys and jpmorgans of the world get involved, it leaves a sour taste in our mouths. that's understandable. but the silver lining is that they are legitimizing bitcoin in ways the community could never do on our own. people look to institutions like this as authorities on money. if they expose their hundreds of millions of customers to bitcoin, a chunk of those customers are not only going to invest in bitcoin through their platforms, but they will eventually become real bitcoin users. that's the road to mass adoption right there.

[chaser15]

Mass adoption is already in action and so far, the progress is great. It's just that there are people with high expectations that wants something big without realizing a success can't be achieved overnight.

The integration of crypto to Paypal can be considered as a big development that might boost bitcoin's popularity. It can attract more people to put money on the bitcoin market.

But remember, if the price goes up crazy to the moon after that news, that might become a dangerous mass adoption you will see. Expect a crash after that without a doubt that might result in some people again left the crypto world because they expect they can be rich within a short period of time.

[Oasisman]

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.

Nah I don't think it's obvious, and I don't think people would actually use Bitcoin to buy and sell something in the platform. Though this is a good news for the crypto enthusiast for Bitcoin and other crypto to gain more popularity (which somehow shows a sign of adoption), but this also seems to be a good move for Paypal for them to become a mainstream service on the top of the others. People will just convert Btc to USD to buy or pay for service anyway.