Will Paypal make bitcoin mainstream? The website makes me think so...

[remotemass]

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[Bitstar_coin]

Give credit where it is deserving right! Can't deny the PayPal announcement invoke a movement in the crypto space which also affect price positively, in my mind, btc already mainstream,  anyways, the website does look very inviting enough to attract the elite to take part in the crypto journey.

[aoluain]

I cannot see anything about Bitcoin from the OP.

To answer the thread title, yes Paypal will be a big player in Bitcoin.
Its only a matter of time before they offer their Bitcoin services globally,
expanded from US customers.

[pinggoki]

Actually even though PayPal didn't do it, bitcoin is in the mainstream right now and we are clearly seeing the hype of it in every people out there. How can I say so? Simply because it is in the mainstream due to the high price of bitcoin and that's would be one of the very interesting part of it but this PayPal will make bitcoin more interesting and mainstream as many people will also try to invest in here because a legit platform is also introducing bitcoin.

[reelstuff]

  I looked at the paypal crypto offering and while it is interesting, there are a few things that are a "Turn off"  they use a padding system, which inflates the cost, (understandable to a degree) but you cannot move your bitcoin away from paypal.   (at least right now) You can sell it, but the same padding reduces the sell price, so it's not really something that you could really use to make any kind of profit.  When I checked it out, the spot buy was 48973,   I checked paypal buy price, 52,745  So they were offering a $10 credit if you made a minimum purchase, up to 100
So I decided to what the heck I will just try it out, but by the time that I got the screen loaded to do a buy, the buy price went up to 53,800  So I checked the spot buy again and it was 49113 Didn't make a buy because the process just felt wrong.

[Dutchyyy]

PayPal confirmed in a press release today that it will acquire the Israeli cryptocurrency custody service Curv in the first half of 2021.

PayPal is committed to advancing cryptocurrencies according to
Jose Fernandez da Ponte of PayPal, who heads the newly formed cryptocurrency and blockchain unit of the payment giant, also praised the talent involved in the startup.

Here is what he said: "Acquiring Curv is part of our effort to invest in talent and technology to realize our vision for a more inclusive financial system. During our conversations with the Curv team, we were impressed by their technical talent, entrepreneurial spirit and thinking behind the technology they have built over the last few years. We are pleased to welcome the Curv team to PayPal. "

[GreatArkansas]

Paypal will adapt what's current trend just like  cryptocurrency or they will start to rot. There are lot of people who are glad when they can start to buy Bitcoin in Paypal.
And recently, there are some exchanges that you can use your Paypal funds to buy crypto directly in the exchange or fund your account, FTX exchange already have this.
Paypal have lot of customers, so if most of those customers will get introduce with cryptocurrency, then much better.

[sheenshane]

I cannot see anything about Bitcoin from the OP.

Yes, it wasn't mentioned but we know that Paypal was accepting Bitcoin and there are too many users of Paypal.  If Paypal's subscribers will keep growing there's a high potential that the awareness of those subscribers towards Bitcoin will keep increasing too.  If you will see on the announcement, these incentives of invites people will become widely popular with Bitcoin and that's the time that we may consider Bitcoin will become more well-known worldwide, in fact, we're already on the mainstream.

This will give a positive effect on Bitcoin price or the entire crypto market, expecting a bullish trend after this.

[Hamphser]

Its their own business or company, so if they decided to show up that kind of offering or cover up into their page when it comes to referral then theres nothing we can do.

They do stick out to typical fiat terms and doesnt really focus or emphasize even if they had integrated bitcoin.They do know that lots would be still interested if people would know(who doesnt know crypto)
will able to see these introductions which they do believe it is way more effective than on showing off bitcoin to that page.

No matter on what the things they would do, it wont really be enough on stopping out bitcoins adoption.

[batang_bitcoin]

With a huge user base and reputation, they will really help. Just imagine how the first news from them made rounds in the market and made bitcoin pump. And if there will be more from them and they will allow their users to transfer, in and out from their platform bitcoins that are being bought, that's another milestone that shall be credited to them. Everyone knows PayPal so if they will highlight bitcoin, it's like everyone who uses them is starting going to know about bitcoin.

[orions.belt19]

Just very recently, Paypal has acquired the crypto company Curv as they further expand for crypto. It is expected that they will be launching crypto merchant payments this quarter 1 and when they do, then its very likely that crypto goes mainstream since Paypal has a very wide reach. Their announcement last October has definitely made the market bullish as they stated that customers would be able to use cryptocurrencies to shop at any merchant in its network beginning in 2021. Once they do launch this, anyone with Paypal can just buy, hold or sell crypto so it will be accessible even for those who don't sign up for exchanges or own any wallets.

[pooya87]

Well you can't buy/sell bitcoin on PayPal, you can't deposit or withdraw bitcoin either. All you can do is to convert your PP into something they refer to as "bitcoin", which is more like an IOU. So they aren't doing anybody any favors, they are currently only earning commissions on a fake thing.

Besides bitcoin doesn't need centralized companies with a terrible history to take it anywhere. It is already conquering the world on its own.

I cannot see anything about Bitcoin from the OP.

Also this ^

[davis196]

Does Paypal really need such referral campaigns,in order to get more users?
Usually new and growing companies are relying on referral promotion for gaining more customers.
This referral system looks exactly like the Coinbase referral system.
Is this campaign active for the UK only?I will have to check my Paypal dashboard.
Anyway,the short answer to your question is NO.Bitcoin is already mainstream.We don't need a company with mixed reputation like Paypal to make it more mainstream.Last year's news about Paypal crypto adoption boosted the cryptocurrency prices,but nothing more.

[nutildah]

Well you can't buy/sell bitcoin on PayPal, you can't deposit or withdraw bitcoin either. All you can do is to convert your PP into something they refer to as "bitcoin", which is more like an IOU. So they aren't doing anybody any favors, they are currently only earning commissions on a fake thing.

Besides bitcoin doesn't need centralized companies with a terrible history to take it anywhere. It is already conquering the world on its own.

It's not what PayPal can do for bitcoin so much as what PayPal can do with bitcoin for me. As one of the world's most popular payment services, it's pretty awesome that they are gearing up to one day integrate bitcoin payments. Where I live the legislation is so backwards PayPal can't even offer crypto purchasing options. Being able to use PayPal as a one-stop-shop instead of a bank is a good deal. They are good at what they do.

[pooya87]

Well you can't buy/sell bitcoin on PayPal, you can't deposit or withdraw bitcoin either. All you can do is to convert your PP into something they refer to as "bitcoin", which is more like an IOU. So they aren't doing anybody any favors, they are currently only earning commissions on a fake thing.

Besides bitcoin doesn't need centralized companies with a terrible history to take it anywhere. It is already conquering the world on its own.

It's not what PayPal can do for bitcoin so much as what PayPal can do with bitcoin for me. As one of the world's most popular payment services, it's pretty awesome that they are gearing up to one day integrate bitcoin payments. Where I live the legislation is so backwards PayPal can't even offer crypto purchasing options. Being able to use PayPal as a one-stop-shop instead of a bank is a good deal. They are good at what they do.

Sure it has its niche clientele (like many other services) but don't forget that bitcoin was created so that people wouldn't need any third parties to use their bitcoins whether it is to store or to make payments. I'm sure PayPal isn't going to stop at only being a place where people buy/sell bitcoin, it will turn into a centralized custodial wallet and a payment processor. I think you already know how bad that is.

[Poker Player]

Well you can't buy/sell bitcoin on PayPal, you can't deposit or withdraw bitcoin either. All you can do is to convert your PP into something they refer to as "bitcoin", which is more like an IOU. So they aren't doing anybody any favors, they are currently only earning commissions on a fake thing.

Besides bitcoin doesn't need centralized companies with a terrible history to take it anywhere. It is already conquering the world on its own.

It's not what PayPal can do for bitcoin so much as what PayPal can do with bitcoin for me. As one of the world's most popular payment services, it's pretty awesome that they are gearing up to one day integrate bitcoin payments. Where I live the legislation is so backwards PayPal can't even offer crypto purchasing options. Being able to use PayPal as a one-stop-shop instead of a bank is a good deal. They are good at what they do.

Sure it has its niche clientele (like many other services) but don't forget that bitcoin was created so that people wouldn't need any third parties to use their bitcoins whether it is to store or to make payments. I'm sure PayPal isn't going to stop at only being a place where people buy/sell bitcoin, it will turn into a centralized custodial wallet and a payment processor. I think you already know how bad that is.

One thing is the idea with which Bitcoin was created and another what happens afterwards. It was also created to be a P2P electronic cash system and, at least for the moment, it is succeeding more as a store of value than as a medium of exchange.

I think that Paypal with this does help the adoption of bitcoin mainstream, even if it is against the founding spirit, because if Bitcoin becomes massively used someday, the vast majority of people will use it without understanding how it works, in the same way that the vast majority of people use fiat money and do not understand how it is created or how central banks work.

[maxreish]

If paypal will successfully launched their plan with bitcoin payments. It would definitely become a mainstream for sure. As Paypal known as one of the online p2p and fast payments online, they've decided to enter and join cryptocurrency line.  But I wonder since OP is from UK and there is a cryptocurrency ban issue there. How will Paypal also comply with those countries who wanted to use Paypal (if bitcoin payments were already accepted) with those regulations behind?

[cheezcarls]

I respect the fact that Paypal is one of the biggest players in Bitcoin adoption. However, what I still don’t like about Paypal is that we cannot move our Bitcoin and other supported cryptocurrencies to other third party wallets except buying and holding it in our Paypal accounts. And of course, not our keys, not our coins. Assuming that we have experienced massive gains on Bitcoin’s price, Paypal could freeze our accounts and may ask us for some documents or so in order to successfully withdraw our assets there. Just saying.

[avikz]

Given the brand value that Paypal enjoys right at this moment, they are definitely helping in bitcoin adoption. However, there are several fundamental flaws within Paypal's crypto system at this moment.

1. You can't have the private key of your wallet
2. You can't withdraw the bitcoins to your own wallet which you have purchased from Paypal
3. You can't send your bitcoins to any other wallet outside PayPal

So even if they are helping in crypto adoption, their mode of operation is fundamentally flawed and goes against how bitcoin should work without an intermediary. So it's not desirable at all!

[isaac_clarke22]

I cannot see anything about Bitcoin from the OP.

~

Still depends on some people.
I still saw some common people in social media showing hate to Bitcoin while I know they're truly familiar with digital payment systems like Paypal.
Only thing to consider is how will people look at Bitcoin.