PayPal to open up network to cryptocurrencies

MrGuvernment

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https://consent.yahoo.com/v2/collec...-session_ac7835a8-8a3c-47f0-b15d-4d66fba0b2c6

PayPal trying to stay relevant? BC jumped up over $12k....

LONDON (Reuters) - PayPal Holdings Inc <PYPL.O> said on Wednesday it will allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network.

The new service makes PayPal one of the largest U.S. companies to provide consumers access to cryptocurrencies, which could help bitcoin and rival cryptocurrencies gain wider adoption as viable payment methods.

The San Jose, California-based company hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that central banks and companies may develop, President and Chief Executive Dan Schulman said in an interview.

"We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role," he said.
 

w1retap

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Yea it is still going up now.. Crazy. 108% increase since last month.
 

MrGuvernment

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That was big rally, come back down now to a reset it seems on BTC but XRP was up to $0.75 at one point...
 

w1retap

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XRP will go back up due to the air drop, then plummet on Dec 12th.
 

MrGuvernment

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XRP will go back up due to the air drop, then plummet on Dec 12th.
One of those, do i sell some when it peaks, to buy more when it drops...OH the decisions! I do enjoy reading the "experts" talking about XRP hitting $20-$30 in 2021.....if only!
 

noko

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Well PayPal set a acceptance standard with Crypto, more will come into the fold as time goes on now. Next will be the big government shakeup, regulations stripping hopefully the shit coins out except maybe keeping the shit coins instead.
 

noko

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Thinking ahead, what governments do in general, pick winners and losers such as having only Comcast for internet in my area, one power company and so on. No crystal ball but having over 2000 coins, many scam coins, I can see the hammer dropping.
 

oblox

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Thinking ahead, what governments do in general, pick winners and losers such as having only Comcast for internet in my area, one power company and so on. No crystal ball but having over 2000 coins, many scam coins, I can see the hammer dropping.
All I can say is good luck banning open source.
 

MrGuvernment

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oblox The government could easily do it by passing laws to make it illegal for the sites and chains to be accessible. This would stop the majority of new and not so informed people from using it. Same crap they did for online poker way back! Passed a law to do it and block funding to online poker sites outside of the U.S and just like that PayPal and credit cards companies stopped transactions.
 

oblox

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oblox The government could easily do it by passing laws to make it illegal for the sites and chains to be accessible. This would stop the majority of new and not so informed people from using it. Same crap they did for online poker way back! Passed a law to do it and block funding to online poker sites outside of the U.S and just like that PayPal and credit cards companies stopped transactions.
How's that working out with online poker? If people want access, they will continue to find a way. It's like the war on drugs, prohibition, and file sharing.
 

MrGuvernment

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They can def find a way, but it also killed business and many sites went under because they could not adjust. The amount of money we lost was stupid because we had to start using CC processors that basically had 0 guarantee and we had several close shop with a lot of money with them. Tie that in with your average user not being technical enough to even submit verification documents properly made for rough years. With some sites now taking Crypto and players finally understanding how to get money in, makes life easier, but it can still be a pain in the butt for those in North America to deposit into a site and get playing with in a few mins these days.
 

MrGuvernment

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Well, it's a very good development. This will make it convenient for people to easily make payment with crypto everywhere in the world. This is a sign that crypto is the next world currency
Easier for people who get ransomware'd :D
 

noko

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Well, it's a very good development. This will make it convenient for people to easily make payment with crypto everywhere in the world. This is a sign that crypto is the next world currency
Which one? Who is going to cover the losses if the currency gets effectively attacked? Wild West Days coming.
 

oldmanbal

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Well, it's a very good development. This will make it convenient for people to easily make payment with crypto everywhere in the world. This is a sign that crypto is the next world currency
Paypal was once able to sign up an entire generation of internet users through its ebay partnership and ease of use with protections. A new generation of born into our modern internet is using easy services like the cash card and other similar startups that make crypto purchasing as easy as buying gas. If they don't get a slice of that crowd, they are going to lose an entire generation of new customers that will be hard to show growth without.

I wonder how much paypal will scale its fees with crypto, probably basing it off some type of USD equivalent at the time of transaction maybe? BTW I love paypal.
 
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