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

[LUCKMCFLY]

~Snip~

Curiously after this news, bitcoin began to rise, this is a good and positive thing, in my case I am not a Paypal fan, actually when I have obtained Paypal payments it is something that I don't like much, and more than their fees are impressive When we compare it with Bitcoin, Bitcoin will always be the best in everything, and if they offer a way that your balance can be changed it is something that should be taken full advantage of, in fact, I do not know how Paypal took so long to establish this change.

Adoption is a fact, all large corporations are discovering the great potential of Bitcoin, mass adoption had already begun, this fact of Paypal does greatly accelerate this process.

[goldade]

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?

I believe PayPal accepting bitcoin is a very huge boost for the mass adoption of crypto in the mainstream world.
I saw a thread similar to this yesterday and I mentioned there that PayPal is a big company in the financial world and their reputation precedes them which makes people trust them. Trust me, many will adopt bitcoin now simply because PayPal endorses it since accepting bitcoin means they are accepting it
I however hope that their transaction fee is as minimal as possible so as not to chase many of those they'll win over.
I think it is all good for bitcoin if centralized institutions like PayPal accept bitcoin and other cryptocurrencies

[dificanovi]

yes, this was the beginning of the mass adoption of bitcoin. We know that Paypal has been widely used at this time, so if PayPal has accepted bitcoin then all PayPal users will see crypto currency and they will buy bitcoin, I am sure after this the price of bitcoin will be even more expensive in 2021.

[AniviaBtc]

Paypal is a famous online payments system which really become popular around the world.

I think in that aspect alone, paypal will really help the mass adoption of bitcoin in that feature. Hoping that not only Paypal will engage into this kind of development and adoption. There are a lot of local platforms that should adopt these kind of changes in their features and system because bitcoin is complex and flexible in a way that it can really help a lot of businesses to grow.

[Light onuoha]

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

[/quote]
 
   It's a 100% yes from me. If you can see, most African and less technology advanced countries are adopting this means, to make things easier PayPal approves trading of cryptocurrency. It's a great news, and a perfect start for mass adoption of crypto.

[cabron]

If the adoption that we can think like BTC will be used to buy stuff on local stores using our phones, I think it will not really be the level of adoption to be achieved.
We may find out soon that BTC will be like the reserve currency for countries as we are all going to be using digital currencies which governments today are starting to release.

Cryptocurrencies will still end up like investments since no governments will give up their control over a cryptocurrency. But paypal accepting BTC and some other altcoins are good signs of certain adoption.

[Silberman]

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

If you want to exchange your bitcoin for Paypal or your Paypal for bitcoin then it makes sense that you think this is better especially if we take into account your bad experiences in the past, but this is no better in any way than P2P trading, bitcoin was designed to do exactly that, remember? That is the whole purpose of bitcoin, if anything I would like people to do this in a decentralized platform and not use something like localbitcoins since that is yet another form of centralization, however without a doubt it is a move forward, some will like it and some will not but it is always better to have more options in the market even if I am not sure I will ever use something like this.

[Chris Barth]

It's just a start. A lot of people know about bitcoin however, they haven't paid attention to associating with it because they have seen many big businesses take it seriously. As PayPal supports bitcoin, this would really help as businesses who look up to PayPal would start looking into using bitcoin (definitely as a means of payment).

[Casdinyard]

It's just a start. A lot of people know about bitcoin however, they haven't paid attention to associating with it because they have seen many big businesses take it seriously. As PayPal supports bitcoin, this would really help as businesses who look up to PayPal would start looking into using bitcoin (definitely as a means of payment).

But as how I interpret articles regarding PayPal and Bitcoin, PayPal will just allow purchase of Bitcoin in their network as means of being a third party. More likely, they are aiming for centralization of cryptos. It is indeed a good thing which may trigger mass adoption of cryptos but I doubt people in this industry would engage buying amount of Bitcoin in PayPal. They would more likely still engage to exchanges. One thing is not yet clear, IMO. Will they allow payment using Bitcoin using their network in order to buy things online or to pay services? At this moment I think this is not yet clear because this matter will be depending on the companies whether to accept or not, right?

[Lorence.xD]

It's just a start. A lot of people know about bitcoin however, they haven't paid attention to associating with it because they have seen many big businesses take it seriously. As PayPal supports bitcoin, this would really help as businesses who look up to PayPal would start looking into using bitcoin (definitely as a means of payment).

That is a good thing that businesses are integrating bitcoin in their transaction/system. I learned something new about bitcoin yesterday. The reason that mass adoption is still not viable for bitcoin is because of volatility solely, if businesses are always updating their product prices to get a profit then they are doing things a little more complicated because it takes an additional work to constantly update the prices. Imagine inside stock trading floor where prices are fluctuating every second.

[Sithara007]

No, this is just the first step for mass adoption of bitcoin. But this is an important step.

That is exactly what OP had posted. If you check the volume of online financial transactions around the world, then you can find that a large majority of them are associated with online marketplaces such as Amazon, and done using payment processors such as PayPal. If PayPal accepts Bitcoin, then it become possible to make payments in online retail sites such as Amazon using cryptocurrency. From what I have heard, PayPal will make Bitcoin available only from mid 2021 onward, and now they are giving access only to a few selected users. If everything goes as per the plan, then I expect a huge spike in acceptability and adoption.

But there is a catch though. Will PayPal allow users to make payments directly using Bitcoin, or do they need to convert these BTCs to fiat first? As of now, they are only allowing the users to purchase and store BTC.

[Ayiranorea]

This is just a beginning, now bitcoin into paypal have opened the doors to people who weren't familiar with bitcoin. As paypal has a wider userbase it supports in reaching the common man with ease than a new network supporting the same. From an article came to know about the paxos exchange is the one that holds bitcoin for paypal. How effective this gonna make changes in the market is unpredictable, but we can expect some positive changes. Even the price growth over the past two days is connected with the news of paypal.

[maydna]

This is just a beginning, now bitcoin into paypal have opened the doors to people who weren't familiar with bitcoin. As paypal has a wider userbase it supports in reaching the common man with ease than a new network supporting the same. From an article came to know about the paxos exchange is the one that holds bitcoin for paypal. How effective this gonna make changes in the market is unpredictable, but we can expect some positive changes. Even the price growth over the past two days is connected with the news of paypal.

Indeed. I think Paypal will not just stop from that news, and perhaps, Paypal will try to add other cryptocurrencies to their user account, so the member from Paypal will have an option to buy the coins. With a large member come from many countries, I think that can be a good start for Paypal to introduce crypto to their users. Hopefully, that can help the adoption to grow among Paypal's users.

We can hope that the other payment processors can follow the Paypal step to introduce and spread crypto to their members. If that can happens, we will see the mass adoption will come, and the number of people who use crypto will also grow.

[rodskee]

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.

Yet what is the effect to the market?yeah we reached $13k maybe from this trend but what now?not enough to make the market hyping again.
But of course i agree that this will comes to become more user friendly since people use to think Bitcoin and crypto as scam.
Now they may have second thought and will research more why Paypal trust finally cryptos.

This is just a beginning, now bitcoin into paypal have opened the doors to people who weren't familiar with bitcoin. As paypal has a wider userbase it supports in reaching the common man with ease than a new network supporting the same. From an article came to know about the paxos exchange is the one that holds bitcoin for paypal. How effective this gonna make changes in the market is unpredictable, but we can expect some positive changes. Even the price growth over the past two days is connected with the news of paypal.

Hope so because i am not losing my faith that this will happen years ago and now we are finally into real mainstream and adoption can be seen not to far away.
 

[Shasha80]

I also think that with Paypal starting to accept Bitcoin, this could start a mass adoption of Bitcoin. Because a platform as big as Paypal
definitely has very many users from all over the world and Paypal has cooperation with many merchants. Of course this will give an impetus
for other platforms and merchants to start accepting Bitcoin. Even many Paypal users who are not familiar with Bitcoin are starting to learn
Bitcoin. And the effect is already felt with Paypal accepting Bitcoin, currently the price of Bitcoin continues to increase.

[Chris Barth]

It's just a start. A lot of people know about bitcoin however, they haven't paid attention to associating with it because they have seen many big businesses take it seriously. As PayPal supports bitcoin, this would really help as businesses who look up to PayPal would start looking into using bitcoin (definitely as a means of payment).

But as how I interpret articles regarding PayPal and Bitcoin, PayPal will just allow purchase of Bitcoin in their network as means of being a third party. More likely, they are aiming for centralization of cryptos. It is indeed a good thing which may trigger mass adoption of cryptos but I doubt people in this industry would engage buying amount of Bitcoin in PayPal. They would more likely still engage to exchanges. One thing is not yet clear, IMO. Will they allow payment using Bitcoin using their network in order to buy things online or to pay services? At this moment I think this is not yet clear because this matter will be depending on the companies whether to accept or not, right?

Well, I don't know if PayPal will allow the purchase of bitcoin, payment through bitcoin,  buy bitcoin, or whatever. I just know that their move is positive on bitcoin. As they would make people realize that bitcoin isn't a scam and will also make users research more about bitcoin. As far as they say good about bitcoin, the 346 million users PayPal has would likely hear this.

That is a good thing that businesses are integrating bitcoin in their transaction/system. I learned something new about bitcoin yesterday. The reason that mass adoption is still not viable for bitcoin is because of volatility solely, if businesses are always updating their product prices to get a profit then they are doing things a little more complicated because it takes an additional work to constantly update the prices. Imagine inside stock trading floor where prices are fluctuating every second.

This is true, one cant keep on updating prices. But one can request for $30 worth of bitcoin (at that particular moment) for a $30 item. So if I sell a laptop for $1,200, I won't ask you to pay 0.092 bitcoin. I'd rather request you pay any amount of bitcoin equivalent to $1,200 (at the moment of that purchase).

[molsewid]

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

Obviously, this would be the start of mass adoption in bitcoin. Paypal is known worldwide as legit online payment. So some users that don't know bitcoin or think bitcoin is a scam would probably be curious about it. Based on what I've seen on their video, they'll create a part on their website to learn more about Crypto-currency, so I think this could be an eye-opener to many people who don't know bitcoin and others crypto-currency.

[Silberman]

It's just a start. A lot of people know about bitcoin however, they haven't paid attention to associating with it because they have seen many big businesses take it seriously. As PayPal supports bitcoin, this would really help as businesses who look up to PayPal would start looking into using bitcoin (definitely as a means of payment).

Awareness reached a very high point some time ago, what we need is to make those that are aware of bitcoin to finally adopt it and to me the whole deal of the pandemic has opened the eyes of many people, they realized that in the case something goes awfully wrong they cannot depend on the government and while there is no link between this new train of thought and bitcoin people are slowly beginning to connect the dots, what if a new economic crisis bigger than anything we have seen during this generation hit us? Will the government protect us or will it protect itself and those in power? And if the answer is the latter then what can I do to protect myself? And bitcoin will be without a doubt one of the answers many people will find to their predicament.

[Chris Barth]

Awareness reached a very high point some time ago, what we need is to make those that are aware of bitcoin to finally adopt it and to me the whole deal of the pandemic has opened the eyes of many people, they realized that in the case something goes awfully wrong they cannot depend on the government and while there is no link between this new train of thought and bitcoin people are slowly beginning to connect the dots, what if a new economic crisis bigger than anything we have seen during this generation hit us? Will the government protect us or will it protect itself and those in power? And if the answer is the latter then what can I do to protect myself? And bitcoin will be without a doubt one of the answers many people will find to their predicament.

No man. Not about awareness. People are already aware of bitcoin and we all know this. What I'm trying to say is that they were aware and for some reason they decided not to use it. PayPal accepting / supporting bitcoin means that the people who trust PayPal will likely agree to use bitcoin. However, I did get your point.

[DatKing]

This could be the start of mass adoption. But I still think that PayPal will not be used the most for cryptocurrencies because they are trying to make people use Bitcoin like a centralized currency (no private key etc.).