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PayPal to support Ethereum and Bitcoin

newsroom.paypal-corp.com

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Re: PayPal to support Ethereum and Bitcoin

#31

Post by loloquwowndueo »

squigz wrote: post #24
Tarball10 wrote: post #20

Holding money (or crypto) in PayPal is a terrible idea. They are not a bank, they do not abide by banking regulations. They can lock you out of your account and your money at any time and leave you going in circles with their offshore support. Yes, they are somewhat of a necessary evil if you do any online peer-to-peer buying/selling, since they are the only money transfer service that provides some level of "buyer p…

Why does their support being "offshore" matter at all? If they wanted to provide good, user-friendly customer support, they would, regardless of where the reps are?

> If they wanted to provide good, user-friendly customer support, they would

Has this been your experience with PayPal?

Re: PayPal to support Ethereum and Bitcoin

#32

Post by throwaway-0001 »

Tarball10 wrote: post #20

Holding money (or crypto) in PayPal is a terrible idea. They are not a bank, they do not abide by banking regulations. They can lock you out of your account and your money at any time and leave you going in circles with their offshore support. Yes, they are somewhat of a necessary evil if you do any online peer-to-peer buying/selling, since they are the only money transfer service that provides some level of "buyer p…

If you link your bank, and approve direct debit (it’s just a popup with yes/later - very risky move), they will eventually withdraw from it when there are any issues. And most likely you’ll lose more disputes when your bank is linked - but no proof of this so take it with a grain of salt.

Re: PayPal to support Ethereum and Bitcoin

#33

Post by bilbo0s »

attila-lendvai wrote: post #17
dzonga wrote: post #11

one thing with these stablecoins is they're pushing to buying of 'us-debt'. congrats if you buy a stablecoin - you've effectively financed the US gvt at 0%. now the US gvt can inflate away that debt at 0 cost to them, and pass on the cost to you. that's why a bunch of these stablecoin companies are pushing it as a way to save for people in distressed economies. what a way to steal from the poor. that's why the crypto…

didn't you just explain the USD game? (fleecing the poor worldwide through inflation...) stablecoins don't change much in this.

...fleecing the poor worldwide...stablecoins don't change much in this

Just Devil's Advocate, but isn't that a reason not to use stablecoins? I mean, I can participate in the fleecing of the poor without changing anything at all apparently.

Re: PayPal to support Ethereum and Bitcoin

#34

Post by scotty79 »

attila-lendvai wrote: post #17
dzonga wrote: post #11

one thing with these stablecoins is they're pushing to buying of 'us-debt'. congrats if you buy a stablecoin - you've effectively financed the US gvt at 0%. now the US gvt can inflate away that debt at 0 cost to them, and pass on the cost to you. that's why a bunch of these stablecoin companies are pushing it as a way to save for people in distressed economies. what a way to steal from the poor. that's why the crypto…

didn't you just explain the USD game? (fleecing the poor worldwide through inflation...) stablecoins don't change much in this.

Aren't they sort of printing new dollars privately accelerating the fleecing? Or am I wrong?

Re: PayPal to support Ethereum and Bitcoin

#35

Post by Tarball10 »

squigz wrote: post #24
Tarball10 wrote: post #20

Holding money (or crypto) in PayPal is a terrible idea. They are not a bank, they do not abide by banking regulations. They can lock you out of your account and your money at any time and leave you going in circles with their offshore support. Yes, they are somewhat of a necessary evil if you do any online peer-to-peer buying/selling, since they are the only money transfer service that provides some level of "buyer p…

Why does their support being "offshore" matter at all? If they wanted to provide good, user-friendly customer support, they would, regardless of where the reps are?

Fair enough, maybe "outsourced" would be a better way to put it. Basically they want support to cost them as little as possible and do not particularly care whether it actually offers any useful help to customers.

More specifically, their support cannot actually do anything to resolve problems. They read off what their computer screen is telling them. They can't take any actions to fix things.

Re: PayPal to support Ethereum and Bitcoin

#36

Post by scotty79 »

bilbo0s wrote: post #33
attila-lendvai wrote: post #17

Earlier quoted context omitted.

didn't you just explain the USD game? (fleecing the poor worldwide through inflation...) stablecoins don't change much in this.

...fleecing the poor worldwide...stablecoins don't change much in this Just Devil's Advocate, but isn't that a reason not to use stablecoins? I mean, I can participate in the fleecing of the poor without changing anything at all apparently.

It's a reason not to use dollars in any form if you are outside of US (and probably inside as well).

Re: PayPal to support Ethereum and Bitcoin

#38

Post by this_user »

dzonga wrote: post #11

one thing with these stablecoins is they're pushing to buying of 'us-debt'. congrats if you buy a stablecoin - you've effectively financed the US gvt at 0%. now the US gvt can inflate away that debt at 0 cost to them, and pass on the cost to you. that's why a bunch of these stablecoin companies are pushing it as a way to save for people in distressed economies. what a way to steal from the poor. that's why the crypto…

That's not how any of this works. You may not receive any interest on your stablecoin balance, but the issuer certainly does. Why would they offer to lend money to the US government at zero when they can get the market rate and pocket it? What's more, these are mostly short-term instruments This means any increase in inflation will be reflected in their yield.

Re: PayPal to support Ethereum and Bitcoin

#39

Post by xhkkffbf »

CalRobert wrote: post #3

I thought the whole point of a decentralised ledger was not needing companies like PayPal…

The Internet is decentralized but most of us use ISPs to connect to it. Most of can't access the Internet without these companies.

In practice, the word "decentralized" just speaks to whether anyone can join in the protocol if they want. But it doesn't mean the protocol is easy to implement.

Re: PayPal to support Ethereum and Bitcoin

#40

Post by tootie »

When Bitcoin first hit public consciousness the knock from economists was that it had a built-in deflationary spiral and that seems to be true. The price keeps going up and up with a few noted bumps. Rising value is great for speculators but it's a death knell for an actual spending currency. You'd be nuts to spend it if you expect it to appreciate. That's why central banks aim for low but positive inflation.
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