/biz/ - Business & Finance

still bullish for crypto. adoption is adoption.

>>23417362
That's because it's more for LINK and less for faggot BTC and their s o y pedo holders.

>>23417362
you are correct, no one with a brain will use this service but it legitimizes bitcoin even more, thats the whole point

>>23417418
LINK LAW

>>23417362
Stay mad you filthy nocoiner

>>23417418
fucking cultists
its not using link you dumb ass nigger
>inb4 that larp picture some neck beard nigger made
fucking hate you lot

>>23417473
>>23417488
KEEP SEETHING FAGGOTS! ONCE IT'S CONFIRMED IT WILL BE TOO LATE FOR YOU AND YOU WILL BE BUYING OUR BAGS AT $60+

absolutely bullish. ppl buy btc, less supply, price go up

>>23417488

Imagine not holding a MINIMUM 10,000 Chainlink tokens ticker: $LINK at this VERY FUCKING MOMENT

>>23417384
Adoption of what? Fake numbers in an excel spreadsheet you cannot use or send anywhere? The exchange rate will be provided by Paypal. They'll rape you with fees, dox you to the taxman and in the end you have to sell it to them if you want your money back. It's worse than Square or Robinhood or Coinbase and brainlets are celebrating like it's a birth of a new millenium.

>>23417513
>has nothing to do with LINK
>its ALL ABOUT LINK
Kys

>>23417589
dont care faggot. the more normies know about it the more it's adopted.

>>23417589
Cool then dont use it. Normies will

>>23417600
Hahahahahahah seething!!!!!

>>23417513
kill yourself cultqueer

>>23417584
Imagine not selling when it was clear its going to bleed out
keep holding nigger

>>23417473
>>23417488
>>23417600
>>23417671
>>23417672
IT GOES POO IN THE LOO FAGGOTS

Still bullish, OP.
Bitcoin appeals to boomers and wagies. If they buy, the price go up, and thats all we need.

>>23417815
why would the price go up when paypal decides the price

>>23417815
>>23417838
and why would anyone use paypal to buy it instead of a real market with real prices especially since you cannot even transfer it out there is absolutely 0 reason to use the paypal one unless they sell btc at half the value of an actual market btc

>>23417623
>>23417640
>>23417815
I know. It's not like we have Robinhood or Square Cash that normies can quickly use to buy and sell, right? It's completely new, revolutionary procuct that changes everything.

>>23417873
Paypal is the largest business to consumer payment option on the planet. 36 million businesses use it. Are you braindead?

This is the future of crypto. Prepare accordingly but it can only be a good thing. We already know how they are with fiat so why would you expect anything less when they move into crypto? It's for convenience of payments. You send to your bank account and buy real crypto later. Robinhood does the same with their crypto side. No big company is willing to get hit with money laundering allegations, even your proper fiat onramps are scared to death of this. There will be awkward growth stages but if you can ride it out and place your bets right you will come out a richer man. There is no money in ideals and virtues. Purists get left behind, and if you're truly dedicated to your cause you will want the power that comes with enough money to influence things.

>>23417894
>36 million businesses use it.
And you won't be able to pay any of them with crypto.

>>23417362

pointless if you have neither your private keys nor a way to transfer in/out of the system. none of the currencies they're listing could handle the traffic if your paypal transactions were all on the blockchains. bitcoin might still buckle under the weight of on-chain trading.

>>23417995
Except you literally can. Anywhere that accepts Paypal now accepts crypto. Sorry youre a dumb nocoiner though. You still have time for the 2025 bull run.

>>23417985
So that's it, huh? I guess the future is millions of bitcoins held in walled gardens you cannot even withdraw from or deposit into from your wallet. Woo, adoption!

>>23418014
you mean it converts your btc to usd and sends usd
you dont send btc
they dont accept btc
they accept usd
fucking retarded nigger
you could always cash out into usd with btc

>>23418040
I have BTC
I want to use it to pay a business
I pay with BTC
My bill is paid with BTC.
You are retarded.

>>23417584

>>23418054
your bill is payed with USD
USD that you get by selling btc on the rate they offer
that business that you paid didnt list their price in BTC
they listed it in USD
they took USD
your transaction history will say USD
you sent USD

>>23418054
I have BTC
>you'll have Paypal balance (which you cannot even verify is based on real bitcoins)
>I want to use it to pay a business
You mean I want to get fleeced on exchange rate and additional, unnecessary fees for selling your Paypal LARP balance for dollars Paypal sends to merchants directly anyway. You might as well pay them with USD yourself and pay less fees you dumbass.
>I pay with BTC
You don't even own BTC on Paypal and you pay retard premium on top of that. It hurts my soul you don't even get it.
>My bill is paid with BTC.
It's paid with USD, there is no BTC on Paypal at all.
>You are retarded.
You cannot even read.

i interpret this as a scalability test. even with lightning or similar layer 2 tech these networks will still have to cope with a lot of on-chain transactions.

>>23418228

this is why ltc, btc, bch, and eth are included. they're all proof-of-work.

>>23417362
They’re just starting dummy. They will keep rolling out features as they are developed and there regulatory clarity

>>23418107
Why are you so retarded

Alice has bitcoin
Alice uses bitcoin to buy a book from Bob's store
Bob receives USD

Alice paid with Bitcoin and Bob received USD. If they didn't accept bitcoin this would not be possible. It's not hard to grasp.

>>23418266
>If they didn't accept bitcoin this would not be possible
You can already do that you dumb fucking nigger with manually exchanging your BTC to usd and sending that holy fucking shit you are dumb
no they dont accept bitcoin
go into their store with your fucking private key then

>>23418188
Stop this nonsese retard.

Why would paypal risk massive stock and lawsuits by not actually keeping people bitcoin.

Their incentive is to do what Robinhood hood does idiot.

>>23418312
>Why would paypal risk massive stock and lawsuits by not actually keeping people bitcoin.
you could never ever verify if they hold bitcoin
thats why

idc line go up

>>23418228
Another brainlet that cannot read. There is no BTC on Paypal. You get a number that Paypal says is real. You can only deposit USD, can only withdraw USD, can only pay with USD. At some point in time you can exchange a number Paypal gave you for USD for another number Paypal says is right. You cannot send your number to anyone, you cannot pay with it. If you want to do anything with it you must first sell it to Paypal on exchange rate decided exclusively by them also pay additional fees. Not a single onchain transaction will occur based on Paypal activity.

>>23418188
>>23418107
I have BTC
I pay a bill
I now have less BTC
My bill was paid with BTC

>>23418034
It was never meant for us

>>23418341

i know that, but news like this will cause a lot of trading activity on the chain.

>>23418347
You don't have btc. You have a number Paypal gave you at their exchange rate.
You want to pay with your Paypal number and you pay additional costs like a retard instead of not doing that.
You have less money and paid a higher cost as a result.
Your bill was paid with USD you got by selling a number Paypal gave you and losing more money for doing so if you literally didn't.
I swear to god, this is trolling, nobody is that stupid.

>>23418379
Yeah probably. But you know what is funny. Consider 2 hypothetical scenarios:
A) Paypal has bitcoins in custodial service and "sells you" only as many as they have with custodian.
B) Paypal doesn't have enough bitcoins (or any) in custodial service or self custody and they "sell you" as many as you want.
Both A and B could be true and it wouldn't matter.

>>23418521

It's like fractional reserve banking but with gold or fiat the banks don't actually hold.

>>23419007
Yes, technically they don't even owe you bitcoin. They owe you a number they claim is real. You have no claim on any bitcoins whether they have them or not. You only are entitled (unless they take that from you as well) to an ability to redeem your number for USD at a time they find convenient and at a price they decide on.

>>23419100

Government would have to step in and regulate Paypal then.

>>23419158
Regulate what? They're not even selling bitcoins. It's like shitty Robinhood, nothing new.

>>23418326

This is why they need chainlink dipshit. To connect paypal to the blockhain.

>>23417362
based, I feel the same way about this. The only good thing is that it's bullish because more normies will buy crypto.

>>23419306
They don't need anything. That's why WE need chainlink but no one of us will ever get Paypal to use it.

>>23417362
imagine believing that adoption is a black and white thing.

THIS ISNT BINARY NERDS

>>23418040
Low class person with low IQ. Just your formatting reeks of underclass or brown person.

>>23418266
Checked, paypal also already auto converts for international purchases anyway
When you order some weeb shit from JPN and use USD, you're paying with USD, but the merchant will be recieving your payment in Yen
This is not hard to figure out

>>23418014
>>23418054
>>23419464
>>23418347
>>23417894
You stupid retards. Fucking bitcoiners and their wishful thinking retardation.

>>23417869
most people do not know jack shit retard. they will buy and hodl.

>>23417995
>nocoiner cope
hundreds of millions of people have paypal accounts

>>23417362
That's how it is CURRENTLY you retard.

The actual functionality is being released in the coming weeks.

"The service will be available to PayPal accountholders in the U.S. in the coming weeks."
https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency#assets_all

embarrassing thread

Guys, please reassure me. You won't be able to actually hold BTC, but you will still have to pay real taxes for your fake gains right?

>>23417384
holy shit you are a retard

>>23419578
>currently

>>23419578
>create a taxable event in order to do anything
nice (((adoption))) goys

>>23419578
jesus fuck you're thick. they buy 1000 usd of bitcoin. their bitcoin, ltc, eth, ada, whatever is worth 3000 some time later. they take 150 of that valuw to initiate a purchase. business reveives usd, buyer spends crypto. you cannot fud this. this is a major part of the vision.

So if you own bitcoin in a private wallet, you have to sell it for usd, pay taxes or whatever, and then send the usd to your paypal account, convert it to bitcoin there, and then when you buy something paypal will automatically convert it for usd for the merchant.
Nice adoption lol

>>23418303
no fucking shit fuckwit, but whereas before people with an iq as low as your with felony backgrounds from stealing air jordans were previously unable to acquire and manage their crypto, now any retard as stupid as you can do so using their existing paypal acct. hundreds of millions of new buyers of crypto. when will you neck

>>23419969
n obody will do this idiot

>>23420036
So what the fuck is the point of it?
All you are doing is buying bitcoin that you have to keep on an exchange, in this case paypal, which is never a good idea.
Why would anyone use bitcoin on paypal when they can just use usd and get the exact same service.

>>23420000
No one's acquiring crypto from PayPal you nigger. PayPal will let you give them USD to gamble on the price of BTC as determined by PayPal.

>>23420082
You're not even keeping bitcoins on Paypal. You have a number that Paypal says is real. You have no access to btc at any point in time. You cannot deposit, you cannot withdraw, you cannot send, you cannot own and you have no control. At some point in time you can only sell that number and get USD from Paypal for a price they decide on.

>>23417362
literally worse than bergbase

>>23417362
Yeah, of course nobody on here should actually store on fucking PayPal. Its about the normie adoption and incoming GBR of a lifetime. You fucking stupid niglet

>You currently are NOT able to send Crypto Assets to family or friends, use Crypto Assets to pay for goods or services, or withdraw Crypto Assets from your Cryptocurrencies Hub to an external cryptocurrency wallet.
>CURRENTLY
be patient, the promised land is getting closer.

>>23420188
>You cannot deposit, you cannot withdraw, you cannot send
Currently.

Bobos are SEETHING

>>23420188
Give it time and I'm sure they'll allow deposits/withdrawals, especially with the venmo wallet since cashapp is their direct competitor. But that's not the point, this legitimizes cryptocurrency to all the nocoiner boomers who would be too retarded to take custody of their keys themselves anyway. But sure keep fudding, I need to add to my longs lower.

>>23420360
Tbf if it allowed withdrawals it would be completely different story. That would be huge. But as it stands it's fucking nothing and they might never even change that. Then what? Fucking nothingburger.

>>23417362
yes of course its not a great idea of us who understand BTC correctly.

What this news does is helps with credibility and more importantly, forces the old archaic financial institutions to wake up.

Word to the wise: DO NO STORE YOUR BTC WITH PAYPAL. Keep it where it is, but this is good for crypto overall.

As someone who adopted BTC in 2016, I can tell you that this is fucken great overall. Diversify your portfolio. A lot of cheap alts right now because of BTC FOMO. Be smart and accumulate BTC/ETH but keep an eye on the major alts. BTC will invariable bring them up.

>>23420393
>currently

>>23420173
no shit dumbass, and everything i wrote applies to that premise you stupid actual nigger. paypal will have to hold the btc and every other coin they offer in custody

>>23420404
>Word to the wise: DO NO STORE YOUR BTC WITH PAYPAL
Paypal has the best guarantees against wrongdoing out there.

>>23420188
This
You don't own any crypto, you own cash values at whatever exchange rate PayPal sets for it. It's the same as yen, or pesos, or anything else if value. They could do the same with pork bellies or corn, or oil or gold or anything else. This is adding some crypto as an exchange rate, nothing more They don't accept btc deposits, or withdrawal, or anything else of the sort.
You can't pay for things with btc, it's still usd, but pegged to a different exchange rate

>>23420442
Look at all this cope.

>>23420442
as long as this drives the price
who
gives
a
flying
fuck

>>23420429
>people [...] previously unable to acquire and manage their crypto, now [...] can do so
Literally no, they can't. Fuck you nigger. There's nothing to say they have to hold BTC in custody either.

>>23417362
>>23420021

>>23420393
Maybe, but even if the paypal service stays custodial I'm sure there are a decent amount of nocoiners that want some exposure to cryptocurrency without having to worry about safely storing their funds. And I highly doubt the venmo wallet will be a shittier version of cashapp's. Either way, this brings more publicity/legitimacy to crypto no matter what your thoughts on it are.

>>23420547
>There's nothing to say they have to hold BTC in custody either.
There's nothing to say they won't enter your bedroom at night and rawdog you until morning either.

where will paypal buy or sell the coins they need to back this service? this makes no sense lol. they're buying and selling real coins from someone, but clearly not their end users.

>>23420432
Yes I agree, less risk is good for some people. I'm not joining that train but as a holder, seeing this news hit and seeing the bag get fatter is good. no?

I'm not disagreeing with you at all here btw.

>>23420693
This is massive news.
Paypal is the god king of normie finance.

>>23417589
too bad faggot
I can buy designer clothes off grailed with bitcoin

>>23419871
It's already like that when you use a btc to Amazon or pay for subscriptions or buy drugs with btc. The only difference here is a meaningless extra step handled on their end. Crypto to trenbolone is a taxable event. I might not say what I'm buying since I keep it vague. Health supplements, personal wellness, beauty, something like that, but not paying taxes on transactions done on an open ledger is dangerous. They don't give a fuck what you buy, IRS is not law enforcement. They just want what they feel entitled to.

It's a trap, no outside transfers. Paypal's turn in the SPX-tech cash grab that's ongoing. Crash almost here.

https://youtu.be/Ji1gLZPeVpU

>>23420409
don't you wonder why they phrased the thing on the right that way? the 'currently' doesn't seem to apply directly to the "transferred on or off paypal" part. it really looks like you will never be able to dump your bitcoins that you have right now using paypal.
i think this is still bullish though, since paypal apparently expects a lot of normies to buy bitcoin in near future, otherwise all of this wouldn't be worth it for them.

>>23421349
>don't you wonder why they phrased the thing on the right that way?
No, because it's clear as day.

>>23421348
>currently
see >>23420409

So PayPal made a wallet that only allows buying and selling?

>>23421546
Yes, Paypal actively supports the use of crypto now.

Israel has no right to exist

>>23417995
Christ you're fucking retarded

>>23417362
Sorry you're NGMI with this attitude