Paypal bought up to 70% of all the newly mined bitcoin recently

[shield132]

Personally, I think that this is one of the most amazing news that I have heard lately. Paypal bought bitcoin when price was very high, between 15-19K USD. I guess there are very smart people behind the Paypal and their results prove everything. If they bought bitcoin in so high prices, this means they have a huge expectation that price will rise or at least not dramatically fall. Also, this action is another alarm that shows society that PayPal is seriously interested and there is an increased demand on supply from such company. Logically, this should cause a price rise. And you know what? PayPal plans to develop and implement more crypto services, so, the very exciting year comes up for crypto world.

[1715097603]

1715097603

[lixer]

but it's alarming that tens of millions are being controlled by a few entities.

That's likely to happen they have the means they can control the price the volume it has become the battle of the whales and we small investors are now a pawn on this kind of battle, we'll see more companies as big as PayPal to buy Cryptocurrency and integrate Cryptocurrency, we have read that some billionaires are already allocating their portfolio to Cryptocurrency.

With investment always comes the dilemma of whales controlling the market but I honestly do not think they will be able to manipulate the market because there are enough small whales and mixed investors who can carry the market in case one whale dumps and tries to bring the price down. The demand is going to become more and more as Bitcoins are in limited amount and daily some coins are lost in multiple ways.

Bitcoin will become is a very expensive asset in the hands of the few, no mass adoption will ever happen. Maybe that's their plan who knows. There are many very rare earth elements which are much more expensive that gold or platinum so what? Not many know and use them.

Haha that would be funny but I can assure you that there are enough whales in the market to keep the price solid and the recent bull run was always expected as it happens in late every year so this bull run is not the result of a particular whale going big.

[CyberKuro]

so yeah, seems that paypal is storing their btc stash to be available anytime to its users. wont be surprised if they will create their own crypto exchange in the future.

Bitcoin will never be available to paypal users. hey can never withdraw them.  Only one that will be able to use papayl users Bitcoin will be paypal itself. They will be able to manipulate Bitcoin market with those coins from their users. Paypal users will be only able to watch.

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

[Twentyonepaylots]

Personally, I think that this is one of the most amazing news that I have heard lately. Paypal bought bitcoin when price was very high, between 15-19K USD. I guess there are very smart people behind the Paypal and their results prove everything.

It is amazing til you get banned for trading cryptocurrencies lol there is a man recently that was suspended for winning trades in paypal such as buying low and selling high, now paypal is asking for this user to explain how these things went and did not actually believe that it is easy to pull that up with crypto trading lmao.

If they bought bitcoin in so high prices, this means they have a huge expectation that price will rise or at least not dramatically fall. Also, this action is another alarm that shows society that PayPal is seriously interested and there is an increased demand on supply from such company. Logically, this should cause a price rise. And you know what? PayPal plans to develop and implement more crypto services, so, the very exciting year comes up for crypto world.

Besides they are taking this too far, buying at this ridiculously high prices might turn the table down for them, it is not always inclining, people might dump every bitcoin they have but I believe the trust they are putting into bitcoin will grow and be seen as opportunity by other companies.

[Vishnu.Reang]

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

PayPal is having billions of $$$ in reserve funds available and they can easily acquire medium-level exchanges and other cryptocurrency ventures. My biggest fear is that they may try to acquire Binance or Blockchain.com, which may have a very negative impact on the users of these platforms. What will happen, if PayPal acquires Blockchain.com, and then asks all the users to update their KYC?

[larus]

We have more and more reasons to buy even more crypto than we have

[Wind_FURY]

The people who are excited about companies like PayPal's increasing supply of Bitcoin under centralized custody should know the fact that it also increases their ability to censor you.

[lovesmayfamilis]

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

I doubt PayPal will ever allow you to withdraw your Bitcoins. If they are already starting to block accounts, inventing suspicious activity, then do not expect improvements in this system about customers.
PayPal is destroying the Bitcoin idea, trying to take control of everything. Those people who do not fully assess all the risks of storing their bitcoins in this system can rejoice. He will never be yours, he can always be taken away, blocked, and at the same time without thinking too much about any moral principles.

[Smartprofit]

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

I doubt PayPal will ever allow you to withdraw your Bitcoins. If they are already starting to block accounts, inventing suspicious activity, then do not expect improvements in this system about customers.
PayPal is destroying the Bitcoin idea, trying to take control of everything. Those people who do not fully assess all the risks of storing their bitcoins in this system can rejoice. He will never be yours, he can always be taken away, blocked, and at the same time without thinking too much about any moral principles.

Yes, if the price of bitcoin reaches $ 100,000, then many will forget about morality.  

In December 2017, the price of bitcoins rose to $ 20,000.  I left my satoshi on the Bitfinex cryptocurrency exchange.  I lent my satoshi (BTC) to traders at interest (lending).  Suddenly my balance went to zero.  I could not withdraw my cryptocurrency from the exchange.  Then satoshi appeared on my deposit again.  However, no one returned the interest to me.  

You don't need to trust centralized platforms.

[imstillthebest]

They probably have that intention to create their exchange as PayPal ever want to acquire crypto-firm.
PayPal is a good thing to support Bitcoin adoption although users can't withdraw their bitcoin at the moment, but who knows if they will have that feature someday if the company really create or buy a crypto exchange.

I doubt PayPal will ever allow you to withdraw your Bitcoins. If they are already starting to block accounts, inventing suspicious activity, then do not expect improvements in this system about customers.
PayPal is destroying the Bitcoin idea, trying to take control of everything. Those people who do not fully assess all the risks of storing their bitcoins in this system can rejoice. He will never be yours, he can always be taken away, blocked, and at the same time without thinking too much about any moral principles.

Yes, if the price of bitcoin reaches $ 100,000, then many will forget about morality.  

In December 2017, the price of bitcoins rose to $ 20,000.  I left my satoshi on the Bitfinex cryptocurrency exchange.  I lent my satoshi (BTC) to traders at interest (lending).  Suddenly my balance went to zero.  I could not withdraw my cryptocurrency from the exchange.  Then satoshi appeared on my deposit again.  However, no one returned the interest to me.  

You don't need to trust centralized platforms.

of course your balanced will be zero because you lend the coin and you cant withdrew because you have a zero balance .
 the balance will apear again on your account after the borowers paid but not paying interest as what ls promised is not right .
 those users should be penalize so that they cant loan again .
 the problem of paypal is different from your problem because paypal block accounts and other people dont recover thier funds anymore . thats more worst but i wonder why paypal is still number one

[CyberKuro]

~

PayPal is having billions of $$$ in reserve funds available and they can easily acquire medium-level exchanges and other cryptocurrency ventures. My biggest fear is that they may try to acquire Binance or Blockchain.com, which may have a very negative impact on the users of these platforms. What will happen, if PayPal acquires Blockchain.com, and then asks all the users to update their KYC?

Although PayPal has billions of dollars, yet it's not easy to acquire a crypto-company such as BitGo, they have discussed but there seems to be no agreement because this news has been quite a while but Pay Pal has not shown any cooperation other than with Paxos. You see, it's not that easy to buy a company if no one to sell it, even though they have a lot of funds. And I doubt Binance or blockchain.com will ever sell their company.


https://www.bloomberg.com/news/articles/2020-10-22/paypal-said-to-be-in-talks-to-buy-crypto-firms-including-bitgo

[Psynthax]

Although PayPal has billions of dollars, yet it's not easy to acquire a crypto-company such as BitGo, they have discussed but there seems to be no agreement because this news has been quite a while but Pay Pal has not shown any cooperation other than with Paxos. You see, it's not that easy to buy a company if no one to sell it, even though they have a lot of funds. And I doubt Binance or blockchain.com will ever sell their company.


https://www.bloomberg.com/news/articles/2020-10-22/paypal-said-to-be-in-talks-to-buy-crypto-firms-including-bitgo

Yeah it's not easy when the owner or founder of that crypto company sees potential behind it in the upcoming years.
That's why sometimes when a large corporation trying to acquire some company they gonna make the founder and devs work for them.
Though, I wonder why paypal don't just start building their own crypto platform. I mean paypal is already big enough to easily create new brand.

[TheGreatPython]

Whether we are hitting $20,000 soon or not, I don’t know that, all I really wanted was real world adoption for Bitcoin. I want people, so many people, around the world to be adopting Bitcoin and using it mainly for transactions. All these institutions of a thing wasn’t what I was looking out for.

I do feel like institutions will just be here to be causing a pump and dump, although, maybe this one of PayPal will be quite different since they will be buying on a steady I guess? And that will help keep the price balanced? Another thing is that some of us here don’t even trust PayPal., It’s always been better to hold your coins yourself.

[Saisher]

Ofcourse as a big party, Paypal will get the highest profit from FOMO and bullrun this time. but on the other hand they are also the party that triggers the bullrun, so I think it will be a healthy bullish if other big parties participate.

PayPal made a bold and a wise decision this is thinking long term profit, they can buy as many Bitcoin that they wants, they waited this long until they see that there is lesser risk to invest in Bitcoin, but there was a time that they are against Bitcoin, this is indeed a big turn of event, every company should emulate PayPal.

[Vishnu.Reang]

~

PayPal is having billions of $$$ in reserve funds available and they can easily acquire medium-level exchanges and other cryptocurrency ventures. My biggest fear is that they may try to acquire Binance or Blockchain.com, which may have a very negative impact on the users of these platforms. What will happen, if PayPal acquires Blockchain.com, and then asks all the users to update their KYC?

Although PayPal has billions of dollars, yet it's not easy to acquire a crypto-company such as BitGo, they have discussed but there seems to be no agreement because this news has been quite a while but Pay Pal has not shown any cooperation other than with Paxos. You see, it's not that easy to buy a company if no one to sell it, even though they have a lot of funds. And I doubt Binance or blockchain.com will ever sell their company.


https://www.bloomberg.com/news/articles/2020-10-22/paypal-said-to-be-in-talks-to-buy-crypto-firms-including-bitgo

Purchases and acquisitions are not that rare in the mainstream market. I guess the same will occur with the cryptocurrency market, as it matures. I am not saying that Binance would agree to an acquisition as soon as PayPal makes an offer. Most probably, they would reject the proposal. But there are dozens of cryptocurrency exchanges out there, such as Houbi, LAToken, Kraken, BitMEX and VinDAX. Some of them would be willing to consider the proposal by PayPal, if the amount is right.

[Spaffin]

Ofcourse as a big party, Paypal will get the highest profit from FOMO and bullrun this time. but on the other hand they are also the party that triggers the bullrun, so I think it will be a healthy bullish if other big parties participate.

PayPal made a bold and a wise decision this is thinking long term profit, they can buy as many Bitcoin that they wants, they waited this long until they see that there is lesser risk to invest in Bitcoin, but there was a time that they are against Bitcoin, this is indeed a big turn of event, every company should emulate PayPal.

Undoubtedly, the PayPal solution is very beneficial for the entire cryptocurrency market and for each user in particular, since such a large investor in Bitcoin will definitely affect the value of the cryptocurrency. But I really don't like the hidden plans of PayPal, especially after many Pay Pal users who are somehow connected with cryptocurrency were blocked.

[doomloop]

Where is all of this purchase during this fall? I couldn't see paypal buying anything during this fall period neither, they are all gone and hiding somewhere? I have always said this, they are not buying it, you are buying it from paypal, and that is why this is temporary and just a hype.

At the end of the day, the only thing that could really change the price would be places like grayscale and similar places, they literally buy bitcoin and hold it and not sell it, not even depending on you or someone else buying from them because they have money invested into them and they use it however they want, if they need to pay the investors their money back via withdrawal, they can do it with something else other than bitcoin. Hence we need more places like that and not like paypal.

[Fortify]

I have a feeling that many people will underestimate the amount of currency that Paypal will be pouring into Bitcoin right now, if they have decided that it will become a large part of their payment system (and it seems they have) then they will want to get hold of as much as possible. They will definitely be seeing all the hedge funds and money managers who are also snapping it up right now. 21 million bitcoins isn't really all that much in the grand scheme of things and for billion dollar businesses, the lack of erosion from interest rates will be a very tempting factor, especially when the amount in circulation will gradually be lost (either through users losing access to wallets or many tiny amounts getting abandoned). Paypal have a huge and captive market of users who will be wanting to buy into this type of "investment", even if they don't understand that their bitcoin will be trapped within the Paypal network. They may even consider the security of the Paypal network to be a very big bonus and buy more that way.

[jaysabi]

There is some misunderstanding going on in the cryptocurrency sphere ever since the day Paypal announced the integration of Paypal and the last time I checked most of the crypto done on Paypal was operated by another crypto company but people seems to believe every positive trend posed by the market was the role of paypal whereas Paypal was not among the holding big amount of Bitcoin.

That's because people misunderstand what is going on. PayPal isn't buying bitcoin, PayPal's users are. The bitcoin treasuries site tracks companies that buy and hold bitcoin for themselves as company assets. When you buy through a service like Coinbase, Cashapp, or payPal, that doesn't apply as they're not owned by those companies but by those company's users.

[Findingnemo]

Ofcourse as a big party, Paypal will get the highest profit from FOMO and bullrun this time. but on the other hand they are also the party that triggers the bullrun, so I think it will be a healthy bullish if other big parties participate.

PayPal made a bold and a wise decision this is thinking long term profit, they can buy as many Bitcoin that they wants, they waited this long until they see that there is lesser risk to invest in Bitcoin, but there was a time that they are against Bitcoin, this is indeed a big turn of event, every company should emulate PayPal.

Undoubtedly, the PayPal solution is very beneficial for the entire cryptocurrency market and for each user in particular, since such a large investor in Bitcoin will definitely affect the value of the cryptocurrency. But I really don't like the hidden plans of PayPal, especially after many Pay Pal users who are somehow connected with cryptocurrency were blocked.

Paypal blocked accounts when they deal with cryptos was old news but now they officially like an exchange where we can buy or sell cryptos and also can make payment with cryptos in our PayPal wallet. They didn't mention that people cannot withdraw or move their cryptos all they can do is buy and sell.