/biz/ - Business & Finance

yeah it's cfd like etoro ones
pathetic

>>23419166
>currently
FUDtard
It’s early
Approvals are needed

>>23419166
Thread with links to more info
>>23417362

>>23419166

>>23419166
why should I care

>>23419166
>currently
Maybe you should actually read today's press release, Bobo.

>>23419251
>next crypto bullrun money is on paypal exclusively and will never ever make it onto the proper crypto market
dunno lol

>>23419166
>You can also buy in the 26m merchants in paypal using your wallet crypto.

Small detail Bobo , nice damage control

>>23419314
>>next crypto bullrun money is on paypal exclusively
haha what?

>>23419349
when normies start buying btc what you think they will use?
nigger.btcfuckkillerrapecum.com or paypal?

>>23419166
You will be able to early 2021, you'll even be able to checkout with Crypto. Check the video.

>>23419381
lmao, so what you're trying to say is this Paypal news is bad for crypto?

>>23419381
Fucked up reminds me of the great coinbase bullrun when only coinbase bitcoins reached 50k

>>23419166
imagine giving control of your avility to move crypto over to the paypal goy

>>23419407
bitcoin is bad for crypto

>>23419407
yes
>cannot transfer into
>cannot transfer out of
>no private key
>have to hand over ID
>cannot even verify if they hold btc or just the value
>cannot argue with their prices, if you dont like it you are stuck

>>23419166
No one cares. It’s a good thing that newbies and idiots can’t lose their bitcoins. In 10 years when everyone is crypto literate you can let newbies have the full features by the default

>>23419166
>b..but you can pay with it right?
so what's the fucking point in buying it in the first place then? why not pay straight up with dollars?

Fuck me, the bull trap is real. Get your shit out into USDC. You're about to get raped quite hard.

>>23419462
Oy vey. It would be a shame if Paypal could set exchange rate or freeze assets at their own discretion at ALL TIMES.

Learn to read, it says >currently

>>23419462
>currently
>CURRENTLY
>c u r r e n t l y

I know it's a confusing word since it sounds so much like "curry", but try looking it up Pranjat.
The actual rollout for this Paypal-crypto function is in early 2021.

Doesn’t matter you think normies read fine print? All they will see is PAYPAL USES BITCOIN IT MUST BE LEGIT!! and they FOMO in.

>>23419588
Learn to read between the lines. This is typical bullshit corpospeak. It doesn't mean it will change anytime soon and knowing paypal it never will.

>>23419588
Currently is marketing speak for "we never really want to but we dont want to say it outright"
you think if they wanted to they wouldnt have launched it with it?
this is not some scam pajeet coin with a roadmap that needs to get donations and shit its paypal
they wont launch a half finished product

>>23419431
top kek

>>23419631
Better question is instead of crying and fudding why aren’t you making memes to get this out to as many normies as possible so they buy your bags?

>>23419631
Yes they fomo into paypal bitcoin that will never leave bitcoin and will never effect the price of bitcoin as they set their own
amazing really, lets celebrate paypal getting more money and you goys getting fucked

>>23419166
Doesn't matter. It's the same as Revolut. Most people don't actually want to use crypto, they just want to 'invest'.

>>23419641
unless they face relentless consumer demand to change

>>23419205
Fuck it's just like that Revolut shit

>>23419644
>Currently is marketing speak for "we never really want to but we dont want to say it outright"
No, it's literal speak for "we're rolling this out in the coming weeks, and CURRENTLY the functionality is limited".

"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

>>23419631
It doesn't pump your bags though because Paypal is not an exchange. They set the exchange rate, you can only sell to them,there is no market. You cannot even arb them if their price is stupid and different from other exchanges.

>>23419704
you are really young and naive arent you
I really dont get anything out of arguing with kids, I know I am right and I frankly dont care about you being wrong

>>23419462
fucking lol, BTC you can buy and spend only within the app. Most normies wont care, does it let you send crypto to another normie on paypal. I cant check anything since i live in the UK and our app has no mention of it yet.

>>23419166
fucking shitty derivatives and synthetic assets

same thing as Revolut

you cant move the BTC, so basically paypal is the one "owning" the Bitcoin for you

>>23419742
Wow what an egotistical asshole you are. No wonder you dont get laid

>>23419621
just 2 more weeks

>>23419465
good point. Paypal is taking responsibility as a huge institution to custody BTC on behalf of normies, and distribute paper BTC. Imagine if they couple this with paypals buyer protection normies can use BTC then safely and have insurance if the thing they buy is not as described.

>>23419742
Don't take my word for it, my illiterate village friend.
Read the OP pic.

>>23419773
You mean like any centralized exchange right now?

>>23419814
Yeah, I misremembered.

>>23419381
Where do you think Paypal will get the bitcoin?

>>23419773
>>23419770
>>23419690
Yes.
>>23419670
Good question. It doesn't even pump your bags if normie buys some funny number on Payscam because there is no order book, there is no market, there is no arbitrage. It's all disconnected walled garden fugazi. Paypal sets their own price.
But wait, it's actually worse. Every normie buying Paypal Bitcoins is actually bad for you because they're not doing this on retail exchange instead. Not only it doesn't pump your bags, it steals liquidity from real markets. FUCK.

>>23419724
you can if you run a scam shop accepting BTC

>>23419851
they will create their own paypalcoin

>>23419724
PayPal still has to buy from an exchange you fucking retard

>>23419960
Tell me Mr Anderson. Why does it matter if they have bought bitcoin or not if you cannot even send it anywhere?

>>23420061
Are you having a stroke?
Whether you can send or not doesn't change the fact that Paypal has to buy the BTC from somewhere.

>>23420275
And how are you going to verify they reallly did if you can't touch that btc at any point in time? You only get exposure to the price they declare is real. It doesn't even have to be market price. Fucking shitty btc derivatives I swear.

>currently

>>23420331
>bro Paypal is going to sell Bitcoin they don't have
>bro Paypal will scam you on the Bitcoin price like some loan shark

Yeah, Paypal got to where it is by scamming people as blatantly as this lmao

>>23420373
Ok let's say they will in fact buy bitcoins (doesn't matter whether they have them or not, it's all internal accounting gameplay anyway).
They will not buy them on an exchange and instead will use otc markets. Wonder how Saylor could load gigachad bags without pumping the price for everyone else? Because the institutions won't place a fat fingered order on a retail exchange and get murdered by slippage. They use specialized desks for whales. So even best case scenario, no shenanigans, no bs it's not that big desu, it's a plus but not worth the hype.

>>23419166
imagine using PayPal anyway
they are blocking your account if you are not an sjw or a cia nigger

>>23420472
You're really not dealing with this well at all, are you Bobo?

>>23420540
It would be a different story if they allowed withdrawals and deposits but it's fucking bs rn and for the record I'm not short.

>>23419381
Coinbase

>>23420581
It's huge news regardless.
Obviously.

Cry about it.

>>23419960
Not even a point in explaining it to these mid wits I can’t tell if they’re genuinely low IQ or bears getting liquidated. Yes PayPal is going about it in a lame way, doesn’t matter our job is then to use the legitimacy PayPal adds to crypto but make memes that gets normies to buy on more legit exchanges. Doomers want to see negatives in everything tho and that’s why they are losers.

>>23420729
>PayPal is going about it in a lame way
Not really.
They're doing it in the most foolproof way that allows them to still offer their incredible financial guarantees.

If you want to use crypto for basic finance with almost zero risk of falling victim to losses due to scams, hacks, etc. you use Paypal.

>>23419503
inflationary hedge. Once 2021 gets going.

why are people trying to fud the PayPal news? this is unironically the biggest news in like two years

>>23420925
Lack of cope and abundance of seethe.

>>23419462
Why would paypal release it in this obviously garbage state. What was so hard about waiting until it was ready? Unless they expect some competitor soon or something?

>>23420925
some of us began using Bitcoin due to Paypal's scummy business practices

>>23420981
Because Paypal offers financial guarantees that are without precedent in crypto.
Do you even know why people use it in the first place?

>>23421014
sure you did, big daddy

>>23420981
>Why would paypal release it in this obviously garbage state.
Also, most of the points in that fud list will be inaccurate within a few weeks when Paypal actually launches its crypto services.

>>23420981
It gives them an excuse to purchase a shit ton of crypto with their funds like MicroStrategy

You bearish losers do u wanna profit from this or not. The majority of normies use paypal because of buyer protection and trust. They aren't gonna buy a ledger they will keep normie digital assets safe. This is exactly what banks will be doing very soon too.

>>23421037
>Because Paypal offers financial guarantees that are without precedent in crypto.
Such as?

>>23421118
>Such as?
Buyer/seller protection, you dimwit.
Imagine actually asking this.

>>23421118
you can refund any purchase up to like 120 days or something

So... they can fake the numbers of how much bitcoin they have in their system as much as they can since there is no way of checking the amount, not even by withdrawal?

Scammed.

>>23419166
>Muh Paypal bullrun
Oh you mean that thing that is actually happening right now?

I don't think you know how the muh maymay works

>>23421091
Hello? Based department? We got a based anon throwing redpills here

>>23421091
To gatekeep users from using actual crypto.

Instead of users actually using bitcoin, they will use centralised derivative of bitcoin that paypal is offering.

But paypal can't gatekeep people for long. People will want to own their money.

>>23419166
lol

>>23421170
Wow a 5% increase since the Paypal news came out really nice bullrun bro

>>23421337
Bull runs dont happen in the course of one day dumbass

>>23419462
Kek not my problem

>>23420331
Proof of reserve. Link does that.

>>23421377
Oh really I didnt know that thanks bro

i really need a pee

>>23419314
again
why should I care?
my keys are in my possession, not with paypal
are you mentally challenged?

>>23419166
so its 100%, completely off-chain, just a number in a database. good fucking job completely missing the whole point of crypto, paypal

>>23421977
paypal has the keys

>>23422249
>>23422229
The same applies to all centralized exchanges ever, including all fiat on/off ramps ever.

Stay butthurt.

>>23422229
When you have your coins on an exchange at least you force them to buy when you withdraw. When Paypal has your coins they can have less or encumber them and you won't even know that. Fucking scam.

>>23419166
whats the problem? This is for normies and its exactly what they want. Someone to hold their hands.

>>23422364
>Paypal is a scam.
Whatever you say buddy.

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