what you think about bitcoin/bch/paypal does paypal cheating

[justin midlet]

someone said that paypal will sell fake bitcoin/bch/alts
so there a problem in this , paypal generally can product fake bitcoins and sell them to costumers lets say by 10k/bitcoin ( depend on the price in that time)
 then if some one want to restore his usd and bitcoin goes up to 20k paypal will be in problem because she lost the money that she earned by cheating ( i know complicated calculating)

i have bought some bch at 246usd/bch and do you think the process will goes okay and paypal will really buy bch to sell it to us? if yes that mean bch will go over 300usd/bch

also which you can't send out or in bitcoin to your paypal account that mean its just like trading platform, so if you have bitcoin bought using paypal and you want to buy from a site that accept only bitcoin, then paypal will be forced to send a bitcoin transection, so it means you can send bitcoin out of your paypal account

add to that if you want to buy from a site that only accept paypal and you have bitcoin then if you cna t send the bitcoin to paypl wallet and then convert it to usd , then the paypal acceeptance of bitcoin is useless because you need to have usd paypal funds already

if paypal really sell fake bitcoin that mean the marketcap will goes down because people will stop buying bitcoin from the exchanges and buy them directly from paypal that she will not buy it from the exchangers, the mean less demand and and higher supply of unpaid bitcoins in exchanges like binance
so less price of bitcoin/alt will expected

--------------------------
paypal: There are no service fees when buying or selling cryptocurrency through December 31, 2020, and there are no fees for holding cryptocurrency in a PayPal account.
https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency?sf130849673=1
i seen pic in twitter say you can't also send bitcoin in and out paylpal which i dobet

We are launching a new service that will enable customers to buy, hold and sell cryptocurrency directly from their PayPal account. The service will be available to PayPal account holders in the U.S. in the coming weeks and initially feature Bitcoin, Ethereum, Bitcoin Cash and Litecoin directly within the PayPal digital wallet

[BitMaxz]

I think this is just beta testing where you can only buy and sell bitcoin from Paypal the same as cash.app before but later on they change their terms and you can able to withdraw your Bitcoin and transfer to an external wallet.

And I think they just want to protect their customers from scam exchange.

What you can only do from Paypal is to Buy, hold and sell crypto and according to them it just for educational purposes.

The only thing that I don't understand from their terms is this.

You currently are NOT able to send Crypto Assets to family or friends, use Crypto Assets to pay for goods or services, or withdraw Crypto Assets from your Cryptocurrencies Hub to an external cryptocurrency wallet. If you want to withdraw the value from your Cryptocurrencies Hub you will need to sell your Crypto Assets and withdraw the cash proceeds from their sale.

[joniboini]

The only thing that I don't understand from their terms is this.

You currently are NOT able to send Crypto Assets to family or friends, use Crypto Assets to pay for goods or services, or withdraw Crypto Assets from your Cryptocurrencies Hub to an external cryptocurrency wallet. If you want to withdraw the value from your Cryptocurrencies Hub you will need to sell your Crypto Assets and withdraw the cash proceeds from their sale.

Isn't it self-explanatory looking from their text?
Users who use their services can't use crypto assets (Bitcoin, Ethereum, anything that they supported) to pay for transactions or withdraw it to their own wallet. Basically, you can't use Bitcoin to pay for your cloud subscription or withdraw it from their Paypal balances to a Bitcoin wallet like Electrum, etc.

[Husires]

Why you complicating it? It is easier than all of these questions, you have the two balances of the main balance and crypto balance, if the store accepts crypto, then the value of your balance will be deducted from it and sent to the store, else the balance will be transferred to crypto and the US dollar will be sent instead.

Having an additional balance for bitcoin is like having cash and investment (store of value) rather than keeping your balance as dollars for a long time.

The move will make PayPal control a percentage of the cryptocurrency market because users only care about Bitcoin value.

[Subbir]

Bitcoins are a type of digital currency in peer-to-peer payment systems. These are generated by a process known as bitcoin mining and can be purchased on online exchange sites. Once earned or purchased, they can be sent and received using special software. If you want to get bitcoins you must first choose a wallet type. PayPal does not cheat but it does like other services that act as intermediaries between your financial information and vendors such as Apple Pay or PayPal. But they don’t work exactly the same way. One difference is that bitcoins are completely digital and more sensitive to security issues that's why you need the safest option to secure your bitcoins.

[celot]

I heard PayPal is not support for sending your cryptocurrency to exchange account and only available for buying and selling on their PayPal account, by the way how rate value of coin from bitcoin, bch or ethereum have the same price with exchange when buying or selling, I still mind what happen with PayPal because many bad news after some investor claim they can't sell bitcoin to exchange wallet and only available for holding and sell back on PayPal, but I don't know will PayPal allow with market exchange rate or have price by their self. but why many investors wanna try buy bitcoin, bch or other coin on PayPal why not buy with exchange and sent to internal wallet if worry with safety of exchange account, I think PayPal more risk than exchange market if you wanna hold your coin assets there.

[pooya87]

The move will make PayPal control a percentage of the cryptocurrency market because users only care about Bitcoin value.

this is the dangerous part. they may easily turn into (if they aren't already) a Fractional reserve banking type of service. in other words the thing that people were so afraid the current bitcoin exchanges may be like, is already happening with PayPal. they are selling their users bitcoins that they don't have. and unless they open up withdrawals and people start pulling out their bitcoins to their local wallets we won't know for sure.

[Ucy]

Interesting. If that's is true, they will probably sell things that represent the origin coins,more like how centralized exchanges do.
Well, that's one of the disadvantages of having centralized platforms be part of the whole decentralized network & have lots of responsibility but lack features to allow for checks & balances from the main public/decentralized network . They basically go contrary to the ideals of Bitcoin/crypto and could weaken the security of the decentralized network(esp if they become powerful) due to their lack of proper transparency, decentralization, accountability, immutablity,.etc

I guess the users will only use their coin in close system if the pictures you painted is true.

[usekevin]

someone said that paypal will sell fake bitcoin/bch/alts
so there a problem in this , paypal generally can product fake bitcoins and sell them to costumers lets say by 10k/bitcoin ( depend on the price in that time)
 then if some one want to restore his usd and bitcoin goes up to 20k paypal will be in problem because she lost the money that she earned by cheating ( i know complicated calculating)

i have bought some bch at 246usd/bch and do you think the process will goes okay and paypal will really buy bch to sell it to us? if yes that mean bch will go over 300usd/bch

also which you can't send out or in bitcoin to your paypal account that mean its just like trading platform, so if you have bitcoin bought using paypal and you want to buy from a site that accept only bitcoin, then paypal will be forced to send a bitcoin transection, so it means you can send bitcoin out of your paypal account

add to that if you want to buy from a site that only accept paypal and you have bitcoin then if you cna t send the bitcoin to paypl wallet and then convert it to usd , then the paypal acceeptance of bitcoin is useless because you need to have usd paypal funds already

if paypal really sell fake bitcoin that mean the marketcap will goes down because people will stop buying bitcoin from the exchanges and buy them directly from paypal that she will not buy it from the exchangers, the mean less demand and and higher supply of unpaid bitcoins in exchanges like binance
so less price of bitcoin/alt will expected

--------------------------
paypal: There are no service fees when buying or selling cryptocurrency through December 31, 2020, and there are no fees for holding cryptocurrency in a PayPal account.
https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency?sf130849673=1
i seen pic in twitter say you can't also send bitcoin in and out paylpal which i dobet

We are launching a new service that will enable customers to buy, hold and sell cryptocurrency directly from their PayPal account. The service will be available to PayPal account holders in the U.S. in the coming weeks and initially feature Bitcoin, Ethereum, Bitcoin Cash and Litecoin directly within the PayPal digital wallet

Rome was not build in one day.So the process will take some time.Now it was stated ,we can buy and sell bitcoin in paypal.To make a bitcoin address include in paypal,the paypal technical team will have to work for it.And we should give some time for it.Once the process completed,we can use paypal bitcoin address to do transaction.

[dothebeats]

The only thing that I don't understand from their terms is this.

You currently are NOT able to send Crypto Assets to family or friends, use Crypto Assets to pay for goods or services, or withdraw Crypto Assets from your Cryptocurrencies Hub to an external cryptocurrency wallet. If you want to withdraw the value from your Cryptocurrencies Hub you will need to sell your Crypto Assets and withdraw the cash proceeds from their sale.

Isn't it self-explanatory looking from their text?
Users who use their services can't use crypto assets (Bitcoin, Ethereum, anything that they supported) to pay for transactions or withdraw it to their own wallet. Basically, you can't use Bitcoin to pay for your cloud subscription or withdraw it from their Paypal balances to a Bitcoin wallet like Electrum, etc.

And it kinda defeats the purpose of buying bitcoin instantly for personal use. I think they will be changing that in the future, though if ever that happens, PayPal would be forced to buy a huge number of coins to hold in order to service their customers, making bitcoin even more centralized than ever. Right now, a few institutions are already holding huge chunks of bitcoins on their arsenals, and we're not far from seeing PayPal doing a similar acquisition just to provide for their customers.

[sheenshane]

They're not cheating, IMO.  That's a pure business that they know that Bitcoin is very popular at this moment.  In fact, Paypal isn't a form of investment platform, they are just a payment method service were to accept payment and Bitcoin is on the mainstream that's why they limit but its regulation and as a user, you should always check first the Terms and Condition before you will use so that you will know how their service work.  In Paypal's Terms and Condition, they already stated there how it will works if you will purchase cryptocurrency on that platform.

If you know that you can't able to send your Bitcoin to external wallets, why you will still use that platform in investing in Bitcoin.  There are too many alternative ways to purchase Bitcoin that you have your own key under your control, so why use Paypal if your purpose is to invest Bitcoin not just a payment method.  Good thing, they had brought awareness from many people and might they are the one reason for Bitcoin recently surged in the market.