PayPal.com | very old cryptocurrency | discussion thread (moved from alt cryptos)

[Blazr]

This thread will serve as a discussion thread for PayPal.com - an alternative cryptocurrency (altcoin).

Paypal is a service that uses cryptography (SSL) to authenticate payments of many different fiat currencies. It is one of the oldest altcoins around.

All PayPal.com discussion may go here.

[Blazr]

No its not.... please go away with your nonsense

No PayPal is most definitely a cryptocurrency. Please explain why I am wrong.

[Blazr]

You are long enough on bitcointalk to know that to earn the name Cryptocurrency, you will need you to get a decentral way which can't be shutoff or destroyed with one mouse click.

So please take your Paypal and stick it up your arse.

But Ripple is centralized (distributed) so if as you say cryptocurrencies need to be decentralized, how come Ripple is a cryptocurrency?

And how about some altcoins such as inncoin which has a central issuing authority becuase it is backed by gold? how come that is a cryptocurrency?

Lastly, BitcoinEXpress can 51% attack many altcoins with one click, temporarily shutting them down, and he/she has done so many times in the past.

The word "cryptocurrency" means a currency that uses cryptography. Has nothing to do with decentralization, Satoshi was quite clear that Bitcoin was a "decentralized cryptocurrency".

I'm just making a point, PayPal is a cryptocurrency.

[Blazr]

Ripple is not a cryptocurrency its a payment protocol. Don't just believe any newbie in here just because he has a big number underneath his avatar, they are all just here for cash and thats it.

What are you talking about? Ripple has its own currency, XRP.

And I most definitely am not a "newbie". I am just making a point.

[Blazr]

Ripple (payment protocol)

Ripple is a payment system, currency exchange and remittance network by Ripple Labs.

http://en.wikipedia.org/wiki/Ripple_%28payment_protocol%29

They them self even tell this to people, its just greedy pumpers are trying to fool people and telling them lies.

From that same page:

XRP

XRP is the native currency of the Ripple network. It only exists within the Ripple system. XRP are currently divisible to 6 decimal places. The smallest unit is called a drop with 1 million drops equaling 1 XRP.[27] The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs.

XRP is a currency issued by a central authority, Ripple Labs. It is a cryptocurrency and it is not decentralized, similar to PayPal.

[Blazr]

XRP are just token nothing more, You can call "rocks" or useless paper also currency if you like.

If they want they can create even more XRP this is what you guys don't understand  there is no marketcap.

You're right, they can. But this thread isn't about Ripple, it is about PayPal.com, so stay on topic please.

[Blazr]

Yes and like Paypal they are thief's and lairs.. so you support them ?

These guys that fight against people freedom ? Who have frozen multiple accounts of journalist and donation transfer to people who do real work ?
If this the case here, then i really advice you to go to Ripple Forum because these guys like to see giving full control to a group or one person.

No actually I don't like PayPal, some older members here will know I was sued by PayPal/eBay for $30,000. Just because I want to discuss something doesn't mean I particularly like it.

[Blazr]

They can sue me every time they want... if its that what you are saying.

Wow. The altcoin section is weird. You seem to think I'm a Ripple and PayPal shill just because I talked about them.

[SHA255]

Paypal is a service that uses cryptography (SSL) to authenticate payments of many different fiat currencies. It is one of the oldest altcoins around.

Okay so paypal uses cryptography, what now? lol I think we were all well aware of this mister

[Blazr]

Okay so paypal uses cryptography, what now? lol I think we were all well aware of this mister

I didn't see any theads discussing this altcoin, so I decided to make one since it is very popular.

[SHA255]

Okay so paypal uses cryptography, what now? lol I think we were all well aware of this mister

I didn't see any theads discussing this altcoin, so I decided to make one since it is very popular.

I hear ya

Probably the worlds most scammy altcoin too LOOL. at least our devs can't freeze our funds whenever they feel like

[Blazr]

I hear ya

Probably the worlds most scammy altcoin too LOOL. at least our devs can't freeze our funds whenever they feel like

Well, there have been altcoin devs which have put trojans, such as wallet stealers and keyloggers into their altcoins, allowing the dev's to straight up take the funds and also take anything else they can access from your PC.

[Blazr]

So you are saying that Bitcoin has a Trojaner and Keylogger embedded in the wallet ?

Umm.... no, I have not found a Trojan in Bitcoin Core or any other bitcoin client. I have found them in some other altcoin clients though.

[hypostatization]

[deleted mistaken off-topic post]

[Blazr]

No. XRP cannot be frozen and has no counterparty.  

He was talking about the PayPal.com altcoin.

Freezing accounts for a max of 6 months in cases where they suspect money laundering is required by regulation. (at least in the EU)

[hypostatization]

No. XRP cannot be frozen and has no counterparty.  

He was talking about the PayPal.com altcoin.

My mistake, apologies.

[TaunSew]

PayPal is not a coin but an IOU

[Blazr]

PayPal is not a coin but an IOU

A currency is something that is used as a medium of exchange. It can be anything, even IOU's. Animal furs were once used as a medium exchange. PayPal funds are often used as a medium of exchange, thus they are currency.

[Come-In-Behind]

OP is high.

[Candystripes]

I actually haven't seen anything funnier in awhile