Warkop
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Vave.com - Crypto Casino
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November 18, 2020, 06:22:37 AM |
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Paypal has only accepted new Bitcoin for a while and they may still be exploring to learn about how to transfer from your wallet to someone else or make Bitcoin payments, so before you get a deeper understanding of the matter you shouldn't call it a scam In my opinion it is only a matter of time and you can wait until it is resolved. I think paypal already has a really good name there and they won't scam everyone just because of cases like this.
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piebeyb
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Bitcoin Trader
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November 18, 2020, 06:45:29 AM |
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it's still too early to say they are a scam, everything needs a process and you don't have to say it's a scam, let's see how it works slowly going forward, I also hope to be able to buy and sell crypto on paypal in the future, so that will make it easier for me to do transactions using money from paypal, to be honest your video does not show anything scam in my opinion
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Trade on the go. Anywhere, anytime.
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bryant.coleman
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November 18, 2020, 06:46:41 AM |
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Paypal has only accepted new Bitcoin for a while and they may still be exploring to learn about how to transfer from your wallet to someone else or make Bitcoin payments, so before you get a deeper understanding of the matter you shouldn't call it a scam In my opinion it is only a matter of time and you can wait until it is resolved. I think paypal already has a really good name there and they won't scam everyone just because of cases like this.
I agree. They have just started the testing phase, and it will go on until mid-2021. The proper implementation and additional features will be offered only after this testing period. And you have to be careful, if you want to call a successful business, which has run for more than 20 years as a scam. The community has reacted positively to the news, as can be seen from the 80% jump in exchange rates.
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CyberKuro
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November 18, 2020, 07:07:28 AM |
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it's still too early to say they are a scam, everything needs a process and you don't have to say it's a scam, let's see how it works slowly going forward, I also hope to be able to buy and sell crypto on paypal in the future, so that will make it easier for me to do transactions using money from paypal, to be honest your video does not show anything scam in my opinion
A scam is an indiscriminate accusation without any strong argument. PayPal is just starting to adopt crypto as one of a payment method scheduled for 2021 through the Venmo app, they certainly don't want to miss this astounding payment technology. Although PayPal disables withdrawal bitcoin for now, the terms stated 'currently' which could mean they may consider plans to expand the functionality, a better way to do it without having to go through all the hassle, hence PayPal wants to acquire crypto-companies to handle it.
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MaryRamsey
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November 18, 2020, 08:16:45 AM |
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I don't think PayPal bitcoin is scam, they don't need to put at risk their reputation, it's a huge financial company with active users all over the world. In my opinion they did a big step forward to bitcoin adoption and serve as a proof that bitcoin is here to stay for other institutions.
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Nhor1011
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Daxetoken.net
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November 18, 2020, 09:19:04 AM |
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After researching it , I think the while "buy Bitcoin on PayPal" is a scam at best , and could be something more sinister at worst. Basically , you cannot withdraw the crypto , which for me means that it isn't crypto at all. But after doing research , I found that you cannot EVEN PAY another person with it - you're simply buying a token that is linked to the Bitcoin price - what is the value of this ? I believe that this could be an attack on Bitcoin - I discuss this in detail here : https://youtu.be/bApVhoTemGwTo recap : - You cannot withdraw your Bitcoin - You cannot Pay anyone ( ironic ) , so it can't even go to another PayPal account - You dont own the keys I think , let's give Paypal a chance to prove their company being able to adopt bitcoin and other crypto currency on their platform. It's too early to judge Paypal for their adoption in cryptocurrency, beside Paypal is one of the biggest company that also trusted a lot of people.
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Buttermellow
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November 18, 2020, 10:02:40 AM |
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I think , let's give Paypal a chance to prove their company being able to adopt bitcoin and other crypto currency on their platform. It's too early to judge Paypal for their adoption in cryptocurrency, beside Paypal is one of the biggest company that also trusted a lot of people.
Paypal is one reputable company not too good with the support they give to bitcoin though but it was something that is worth it. Another post here in the forum stating that binance receiving bulk orders of buying bitcoin using paypal. It is something remarkable and I do not know wht we should be forgetting this that paypal has done good with bitcoin and to bitcoin user.
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xanto
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November 18, 2020, 02:13:36 PM |
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I, for one, will never use PayPal crypto option, because it's so very lame.
At the same time, I mist admit that PayPal has done something that adds to mass adoption, and it's a good thing.
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nemey
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November 18, 2020, 02:40:07 PM |
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I think the Bitcoin Paypals are starting to be hotly discussed. Where Paypal is now reportedly opening a Bitcoin buying and selling market and others. But I myself have not checked whether the Paypals is true or not.
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Renampun
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November 18, 2020, 02:49:27 PM |
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Paypal is still testing Bitcoin on its platform... since the first launch of buying or selling Bitcoin on PayPal I have been convinced that PayPal is not really serious about developing their new service, there is no point in buying Bitcoin there because there is already a very reliable Bitcoin buying and selling platform on DEX and CEX.
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NotFuzzyWarm
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November 18, 2020, 02:56:17 PM Last edit: November 18, 2020, 03:16:29 PM by NotFuzzyWarm |
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Paypal is still testing Bitcoin on its platform... Exactly. They're are just starting to roll out their idea so perhaps cutting them a little slack would be in order... As the scam tag is just the OP's knee-jerk reaction to PP's plans, trying a change of subject line to see if it sticks.
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lifeforcepools
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November 18, 2020, 03:27:21 PM |
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I would not call PayPal a scam, not at all. But I think they shouldn't have added this feature.
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Inkdatar
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November 18, 2020, 03:45:27 PM |
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I don't get it, accusing paypal is a scam well in fact many users still patronizing this platform. I know some can even use to deposit, purchase bitcoin and can withdraw. Paypal is just starting to adopt bitcoin service if there is an issues on bitcoin in my view, let’s give them a doubt. There is a risks of course putting your assets in PayPal since not your keys, not your crypto.
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Kong Hey Pakboy
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November 18, 2020, 03:48:59 PM |
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Paypal is still testing Bitcoin on its platform... since the first launch of buying or selling Bitcoin on PayPal I have been convinced that PayPal is not really serious about developing their new service, there is no point in buying Bitcoin there because there is already a very reliable Bitcoin buying and selling platform on DEX and CEX.
You have a good point. We are not very convinced that PayPal is accepting bitcoin and other cryptocurrencies on its network because DEX and CEX are more reliable for buying and selling cryptocurrency platform than PayPal. Still, PayPal is one reason why bitcoin's price surprisingly increased its value, and we are now getting closer to its ATH.
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Ayiranorea
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Leading Crypto Sports Betting & Casino Platform
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November 18, 2020, 04:23:36 PM |
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PayPal has just made a service addition, and for the same we can't state PayPal's bitcoin to be a scam. In my opinion this has made bitcoin go more popular, because paypal is known and used by more number of people compared to bitcoin. Now it is bitcoin, maybe in the future we can expect large number of cryptocurrencies (altcoins) added to the list giving way for users to buy and sell through the centralized service.
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BTCappu
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November 18, 2020, 04:32:52 PM |
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2) The person doesn't own the keys, perhaps but it's the same thing with Coinbase for example, so Coinbase is also a scam?
Please don’t compare Coinbase to PayPal in this case, Coinbase is totally different. Yes, Coinbase doesn’t give you your private keys, but at least what you have in your wallet is real cryptocurrencies and you can send them to another wallet you own where you can actually hold the private keys. But, according to the OP this is not the case with PayPal. All exchanges hold our coins but we never demand for private-key there. So, if we understand their reputation then we can believe them for our coins else we may need to simply move on. Blaming as scam is not a right approach just because of non-access to private-key.
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Asuspawer09
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November 18, 2020, 04:43:20 PM |
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I guess the system is really worst and the transactions are hidden, but I maybe it's just too early to assume this thing as they are just getting started into crypto for sure there will be changes. - You dont own the keys
This is probably their disadvantage since this is more like a custodial bitcoin wallet. To recap : - You cannot withdraw your Bitcoin - You cannot Pay anyone ( ironic ) , so it can't even go to another PayPal account
These two are something that I highly doubt for sure you able to withdraw your bitcoin and at the same time you could pay anyone with bitcoin at that account otherwise no people or investor is gonna use this system at all. Without these features, it's just useless and it will be a huge failure, so for sure, there will be changes and updates about it.
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BrewMaster
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There is trouble abrewing
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November 18, 2020, 05:30:09 PM |
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I don't get it, accusing paypal is a scam well in fact many users still patronizing this platform. I know some can even use to deposit, purchase bitcoin and can withdraw. Paypal is just starting to adopt bitcoin service if there is an issues on bitcoin in my view, let’s give them a doubt. There is a risks of course putting your assets in PayPal since not your keys, not your crypto.
you seem to not grasp what is going on here. it is not just about not having your keys, it is about not even being able to use your bitcoins! for example if you wanted to withdraw and pay for something with bitcoin, you can not do that. basically all Paypal lets you to do is to trade on their platform and pay them the fee. and when i say trade it means buying bitcoin from THEM. the fact that you can not withdraw bitcoin is a big red flag because they may not even have any bitcoin to let you withdraw. in other words they are selling you nothing but receive your money all the same.
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There is a FOMO brewing...
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DooMAD
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Leave no FUD unchallenged
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November 18, 2020, 06:46:41 PM |
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For anyone who doesn't quite understand why some of us see the potential for an actual scam, despite the fact that PayPal are a " respected and recognised company" or whatever, I'll see if I can make it clearer: If we're talking about national currencies and custodians (i.e. banks), it's a widely accepted practice for such custodians to operate fractional reserve schemes. Laws and/or regulations say it's fine for them to do that. If we work on the assumption that it is highly unlikely all of their customers will attempt to withdraw their entire balance in cash at the same time, there is no issue. But when it comes to cryptographic currencies and custodians, fractional reserve suddenly becomes a very perilous gamble. If the company in question are not capable of signing a transaction for every BTC they claim to own, they are technically insolvent. Bitcoin doesn't do debt. It's not a thing in our ecosystem. A valid transaction must take place on the blockchain in order for a customer to withdraw funds from that custodian to their own wallet. There is no way to fake it. Meaning that if PayPal do eventually decide to offer BTC withdrawals, they better make damn sure they have sufficient funds in place, or they're going to have some very upset users, making some very legitimate allegations of scamming. And until/unless they offer BTC withdrawals, we can't know for sure if they're solvent or not. Paxos, the actual custodian, do have a NY "Bitlicense", but in terms of capital requirements, that merely means: Each licensee shall maintain at all times such capital in an amount and form as the superintendent determines is sufficient to ensure the financial integrity of the licensee and its ongoing operations based on an assessment of the specific risks applicable to each licensee. In determining the minimum amount of capital that must be maintained by a licensee, the superintendent may consider a variety of factors, including but not limited to: (1) the composition of the licensee’s total assets, including the position, size, liquidity, risk exposure, and price volatility of each type of asset; (2) the composition of the licensee’s total liabilities, including the size and repayment timing of each type of liability; (3) the actual and expected volume of the licensee’s virtual currency business activity; (4) whether the licensee is already licensed or regulated by the superintendent under the Financial Services Law, Banking Law, or Insurance Law, or otherwise subject to such laws as a provider of a financial product or service, and whether the licensee is in good standing in such capacity; (5) the amount of leverage employed by the licensee; (6) the liquidity position of the licensee; (7) the financial protection that the licensee provides for its customers through its trust account or bond; (8) the types of entities to be serviced by the licensee; and (9) the types of products or services to be offered by the licensee. (b) Each licensee shall hold capital required to be maintained in accordance with this section in the form of cash, virtual currency, or high-quality, highly liquid, investment-grade assets, in such proportions as are acceptable to the superintendent.
Or, in plain English, some random dickhead with a fancy job title gets to decide how much BTC they need to keep in reserve. And that person probably doesn't understand the risks of not being fully backed either. Hence my cynicism.
TL;DR - Don't operate fractional reserve with Bitcoin. It will fuck both you and your customers.
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Searing
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Clueless!
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November 18, 2020, 07:43:48 PM |
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I am kinda impressed by PayPal however....the regular wallet and the BTC wallet are right in your face the same size...I can see the amount of BTC I have on Paypal also (about 0.0037 some such...and I bought in at $50.00 and can sell out at $54.00 now. So for its uses...I can see why they did it this way. As stated before IMHO, Paypal will use KYC and such with BTC in a debit card format to jump-start the 'unbanked' of the world in dubious countries with dubious gov't and banking, bribes, etc. And IMHO will offer banking itself and also be an exchange...just too...I see this as their real plan long term. much $$$ out there for PayPal to bring in the unbanked using BTC 'security' and debit BTC card to 'jumpstart' the process. Not a fan, BTC/Crypto works or will work at that point just as well without banking, but I'd bet my own $$$ that is where this is going in Paypals view long term But then again...PayPal could 'never' truly let you control your BTC/Crypto in and out I suppose. But it gives newbies a foot in the door on BTC/Crypto, IMHO. Adoption/Adoption/Adoption! IMHO! Brad
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Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:)
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