We Are To Turn Bitcoin into a Global payment Network - Former PayPal President

[joniboini]

Your analogy of “trying to make water wet” suggests that you believe Bitcoin already functions as a global payment system. Indeed, Bitcoin is already used for transactions worldwide. However, Marcus’ statement likely refers to enhancing the efficiency, speed, and accessibility of these transactions.

It is also worth noting that his way of enhancement is basically making it controlled through centralization afaik. I don't think that is surprising. Most big finance platforms won't give up control and would prefer to profit from new things like Bitcoin. I don't think this is how most Bitcoiners like to use Bitcoin as a payment network, so disagreement should be expected. At the end of the day, this won't stop any development on the Bitcoin network as long as there is community behind it.

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[kro55]

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Bitcoin is a peer to peer transaction network but what Bitcoin transactions are used for, as payments or whatever purposes, we can not know because it depends on two people are in a deal. In some countries, using bitcoin as a payment method is prohibited, illegally. I guess it is the meaning from the Paypal's former President.

It is similar to buying bitcoin and holding it, you have no problem with government. If you sell your bitcoin to cash, it's prohibited by law.

I also have the same thoughts as you, it seems that people are too excited and misunderstand what the former President of Paypal wanted to say.
Basically, bitcoin has been a peer-to-peer payment system since its inception but looking at the reality so far, how many countries are using it for payment purposes? How many of us are using bitcoin as a payment method or just using it for speculation? We ourselves have never taken any action to promote bitcoin as a global payment network, we are just exploiting it for our own profit. We have no right to criticize anyone.

[Fundamentals Of]

Lol. But that's true. Bitcoin is already a global payment network with its own native currency. That's what Bitcoin already is right from the start. But we know what he actually meant. He is simply saying he will create a payment platform using or which offers Bitcoin that would be used all over the world.

Of course, to somebody who is already using Bitcoin as a peer-to-peer payment network, that's actually not interesting. That simply means he will make a centralized business out of a decentralized system. That goes against the very design of Bitcoin.

[bayu7adi]

While you may be quite confident that Bitcoin is already functioning well as a global currency, the support it receives shouldn't create new issues for debate. In fact, those who endorse Bitcoin in this manner are exactly what the network needs, even if we suspect an individual is seeking personal gain from their contributions to Bitcoin.

Regardless of whether their motives are self-serving or they're trying to play the hero, do we genuinely appreciate it when they act otherwise? I mean, do we all really want them to attempt to hinder Bitcoin's growth through any means at their disposal?

Now that we've established that he isn't a true hero and he wishes to contribute positively to Bitcoin, I'd rather just let him be.

[Fivestar4everMVP]

Lol. But that's true. Bitcoin is already a global payment network with its own native currency. That's what Bitcoin already is right from the start. But we know what he actually meant. He is simply saying he will create a payment platform using or which offers Bitcoin that would be used all over the world.

Yeah, you are very right, quite understand perfectly the meaning but honestly, the fact that this guy's were really against Bitcoin in the past, they saw Bitcoin as a threat to their business and castigated it in the past, said all manner of negative stuffs against Bitcoin just to bring it down, but I believe that today, they have realized that Bitcoin can't be stopped, and that the sooner they embrace it, the better for them..

I personally just get so annoyed with this bunch of hypocrites any time I watch them talk so good about Bitcoin , and I remember all the bad things they said about same Bitcoin in the past.

[NotATether]

Bitcoin is already a global payment network with or without PayPal. They are just salty because people can opt out of them as a payment method.

Besides, do any of you guys want your BTC to be limited because you're making transactions to people they don't like?

How about paying a $2000 transaction fee to PayPal as a "good behavior tax"?

[xSkylarx]

My first thought was that they really advertise Bitcoin or that they will be using it on some app or website just spreading news about it but it goes deeper and I agree that they are kind of fooling around as Bitcoin is already a global payment and nothing needs to be done about it. Probably they are just wanting people to use Bitcoin more as a payment service than an investment or they are planning to have their own token that will be used by all.

[Synchronice]

its funny how they pretend to say they are going to make bitcoin better.. but then tell people to not use the bitcoin network and use some other system the promoters made.. which requires middle men to sign off on peoples choice of payments

PayPal has some kind of authority, many people think that PayPal is cool, the king of payments and so on. PayPal has its audience, right? So, they speak to them and they know how to speak to them. It's not really funny that people believe PayPal is going to make Bitcoin better, it's more likely a tragedy.

They've literally joined BTC years ago. It's the strategy just as they say 'If you can't beat them, join them.'

That's exactly what they are doing!

David Marcus, the former president of PayPal and current CEO of Lightning Network’s Lightspark, recently shared his vision for Bitcoin on CNBC’s Squawk Box. He aims to transform Bitcoin into a global payment network. This vision goes beyond Bitcoin’s current status as a digital store of value, and charts a course to redefine the financial ecosystem on a global scale.

I read an article about his vision for Bitcoin and to be honest, what he says is not a lie. Current model of Bitcoin ecosystem is not ready for massive transactions and if we increase the number of transaction, mempool gets clogged and it takes hours and days, sometimes even weeks to get your transaction confirmed unless you plan to pay a lot of money in fees. He said this and it's definitely right but the problem is that PayPal is not a solution and will never solve the actual problem in our favor.

[Dunamisx]

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

I don't see this as more of an attempt to gain social media attractions, maybe the concept he's taking it from is different from the way you received the projection, i think what he's trying to say is that they will together with the whole world join in constituting bitcoin adoption globally, which could also be interpretated that they will not be left out in the globalization of bitcoin amidst other countries, companies and institutions making their own decisions to join in the adoption as well, He should have known that bitcoin is already a global digital currency and is everywhere.

[Fiatless]

Lol. But that's true. Bitcoin is already a global payment network with its own native currency. That's what Bitcoin already is right from the start. But we know what he actually meant. He is simply saying he will create a payment platform using or which offers Bitcoin that would be used all over the world.

This was exactly what he meant. He has a platform that he thinks will help make Bitcoin more accessible and acceptable in the global financial system. His firm Lightspark deals in Lightning Network infrastructure and he feels that bitcoin can work like Papal using a decentralized network. Marcus stated that with his services bitcoin transactions can be faster, cheaper, and cover wider coverage. I wonder how he intends to make bitcoin operate like a highly centralized platform like Papal using a decentralized network.

Of course, to somebody who is already using Bitcoin as a peer-to-peer payment network, that's actually not interesting. That simply means he will make a centralized business out of a decentralized system. That goes against the very design of Bitcoin.

Any transaction that is not Peer-to-peer is against the reason for the invention of Bitcoin. If a transaction in a Bitcoin system requires people to provide their personal in the form of KYC, the process has been adulterated.

[Ojima-ojo]

Lol. But that's true. Bitcoin is already a global payment network with its own native currency. That's what Bitcoin already is right from the start. But we know what he meant. He is simply saying he will create a payment platform using or which offers Bitcoin that would be used all over the world.

Yeah, you are very right, quite understand perfectly the meaning but honestly, the fact that this guy's were really against Bitcoin in the past, they saw Bitcoin as a threat to their business and castigated it in the past, said all manner of negative stuffs against Bitcoin just to bring it down, but I believe that today, they have realized that Bitcoin can't be stopped, and that the sooner they embrace it, the better for them..

I personally just get so annoyed with this bunch of hypocrites any time I watch them talk so good about Bitcoin , and I remember all the bad things they said about same Bitcoin in the past.

Both of you are speaking from the angle of the knowledged bitcoin holders, because as it is bitcoin have performed it primary role since it inception in 2009-2010  as an alternative currency and tgat has veen the requisite for bitcoin development over time, it now a proven fact that Bitcoin hace sustainability in terms of financial alternatives.


Bitcoin gave sustained a long term sustainable services both as an asset and also as an alternative payment currency, so why do we discuss bitcoin to be approval, Bitcoin is already a global alternative currency to those who have the fundamental knowledge of the bitcoin.

[Sim_card]

Paypal is only acting the middle man on bitcoin payment and they as he claim can never add any single thing to the way bitcoin was designed,which is for p2p payment method. It is only the centralized entities or institutions that are claiming that they are helping people to use bitcoin for payment,forgetting that ever since the existence of bitcoin it has been used as a payment method globally and that was the purpose of its creation. It is the people that are not ground in bitcoin knowledge that will fall for their lies because they want to advertise their business. David Marcus words sound very ridiculous and childish for claiming to do something that is already existing.

[tygeade]

Bitcoin is already a global payment network with or without PayPal. They are just salty because people can opt out of them as a payment method.

Besides, do any of you guys want your BTC to be limited because you're making transactions to people they don't like?

How about paying a $2000 transaction fee to PayPal as a "good behavior tax"?

Paypal definitely wanted to make it work like paypal is the way to go if you want to make bitcoin related payments, but the reality is that you can do it directly without using paypal at all and that should be the important news to get out of this.

I understand that some people are a little different and they want the security of a company like paypal when they are doing something so that they are more defended but that doesn't mean that you are going to end up with something like that when you use Paypal, they are just lying about it to you that they are safer but if you know the address you want to send money to, then you should be fine and do a lot better and be a lot safer yourself without help of anyone else.

[Hamza2424]

Haha, well Op it really sounds familiar, Once upon a time there was a payment system called PayPal 😂, the freelancers in my country begged for their service back in time to conduct easy cross-border transactions they surveyed launch their service here in my region but then they decided their standard is too high so we can't allow a 3rd world economically struggling country to use our service.

Then the time came to a turn in 2017 and the people here realized that a better payment mode I already there and they could even utilize it for other purposes, the community started supporting the system and after a couple of years nobody cared about the well know payment mode Paypal even a time came where those people who bagged for it were not even familiar now what's their name and purpose and now they are coming to announce that the system which is already being recognized by every digital skill holder, investor, trader even standing to convert into the global payment system. The system used to be called the Universal trade solution and payment mode solution by its community even by the opposition well now that rt Paypal never cared about the development except for the business.

Who knows Paypal = No one.
Who Knows BTc = Brother Who don't.

[serveria.com]

we are trying to make water wet .

Saw this interview video clip posted on telegram by a news channel i am following, the interview had former president of PayPal and in the video clip, he's saying that,  they are trying to turn Bitcoin into a Global payment Network, and in my own words, what I heard is "they are trying to make water wet 😂..

Who exactly are they trying to fool?, Bitcoin in my own understanding is already a payment system for the entire globe, the former president of PayPal now saying that they are the ones trying to turn Bitcoin into a global payment Network is highly ridiculous and laughable.

Are they trying to steal Satoshi's glory? Not possible I believe..

Source: https://t.me/WatcherGuru/5234

Yeah, unfortunately it's like that... something is working for a decade then some rich a$$hole announces they "will make it work" and everybody thinks he's a genius and signs up in a hurry for their "new", "revolutionary" service. 

[serjent05]

Haha, well Op it really sounds familiar, Once upon a time there was a payment system called PayPal 😂, the freelancers in my country begged for their service back in time to conduct easy cross-border transactions they surveyed launch their service here in my region but then they decided their standard is too high so we can't allow a 3rd world economically struggling country to use our service.

Then the time came to a turn in 2017 and the people here realized that a better payment mode I already there and they could even utilize it for other purposes, the community started supporting the system and after a couple of years nobody cared about the well know payment mode Paypal even a time came where those people who bagged for it were not even familiar now what's their name and purpose and now they are coming to announce that the system which is already being recognized by every digital skill holder, investor, trader even standing to convert into the global payment system. The system used to be called the Universal trade solution and payment mode solution by its community even by the opposition well now that rt Paypal never cared about the development except for the business.

Paypal may have been set a high standard but I being in a third-world country have been using paypal for almost a decade now.  Not that I am supporting Paypal, but I still think their service is rubbish.

Who knows Paypal = No one.

Almost everyone who uses online payment

Who Knows BTc = Brother Who don't.

Still, a lot does not know Bitcoin, I believe Paypal is still more popular than Bitcoin in terms of online payment.

But this declaration of PayPal made me laugh when one point in time, they are banning accounts engaged in cryptocurrency trading and then all of a sudden they embraced Bitcoin as if it is their own products LOL.

[DapanasFruit]

This is so ironic all because PayPal is one of the many financial institutions that Bitcoin should be not friendly. However, all I know is that PayPal is making itself more relevant in the age where cryptocurrency is here to stay...in other words they are trying to make a slice of the pie in terms of use and profits. Anyway, let's just let PayPal imagine things because at the end of the day it will not a factor in the whole scheme of things, no matter how it tries to be.

[davis196]

Here is the video link if anyone is not willing to use Telegram link posted by op.

https://youtube.com/shorts/J3Cco4WmnEo?si=DsoKkTC7wvBdAGw0

This is nonsense! Paypal's business is in danger because of cryptocurrency. And still they have the audacity to say this. But it's not possible to steal Satoshi's glory!

Are you kidding me? How many people around the world are using Paypal on a daily basis? 300 million? How many people around the globe are using cryptocurrencies on a daily basis? 10 million? 30 million? To be honest, I don't know the exact number, but it's way lower than the total amount of Paypal users. Paypal's business isn't in danger because of crypto. That's why there's isn't any problem for Paypal to adopt crypto payments. The former Paypal president actually tried to say that they want to popularize Bitcoin. He's not wrong about this. Bitcoin is way less popular compared to Paypal.

[fruktik]

I also have the same thoughts as you, it seems that people are too excited and misunderstand what the former President of Paypal wanted to say.
Basically, bitcoin has been a peer-to-peer payment system since its inception but looking at the reality so far, how many countries are using it for payment purposes? How many of us are using bitcoin as a payment method or just using it for speculation? We ourselves have never taken any action to promote bitcoin as a global payment network, we are just exploiting it for our own profit. We have no right to criticize anyone.

For what reason then are we communicating with you here if we can’t criticize anyone? Isn't this the essence of communication? It seems to me that I have every right to examine all aspects related to cryptocurrencies and the statements made by public figures and businessmen.
Yes, the world has not yet reached the point where Bitcoin will become the payment option that will be used throughout the world, but steps are being taken in this direction and are quite significant. Some countries have adopted it as an alternative instrument in conjunction with the standard national currency. And this is already worth something. Not everything is as pessimistic as it seems.