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Paypal And Bitcoin: Never The Twain Shall Meet

27 Feb 2019

While Paypal and cryptocurrencies may have a lot in common, and a lot of people are rooting to join forces, there is a slim chance of that happening soon.Speaking at the World Economic Forum in Davos, Switzerland (often simply referred to as Davos), the Chief Executive Officer (CEO) of Paypal, Dan Schulman had said, “We’re not seeing many retailers accepting cryptocurrency.” He noted that cryptocurrencies were more like a reward system for using blockchain, instead of actual currencies. Schulman noted cryptos’ volatility, and specifically explained how it’s a bad match with retailers’ typically narrow margins. It wasn’t an aggressive or impolite take directed to take down crypto advocates – but it was still quite negative, as reported by news portal, Altcoin Era.However, Paypal has been inconsistent when it comes to talking about cryptocurrencies. While Schulman has been consistent on his stance, terming “Cryptocurrencies are an experiment”, Peter Thiel, the co-founder of Paypal has been slightly more bullish.In 2017, while delivering a talk at Financial Investment Initiative summit in Saudi Arabia said Bitcoin is still being underestimated and has a great potential. But, one specific detail was that Peter Thiel did not think Bitcoin as a currency for transferring money. He recognised it as an asset like Gold. An asset, which is global and holds its value irrespective of the country you live in.Peter Thiel, like Steve Wozniak believes in Bitcoin because he believes in Math. Math cannot be hacked or regulated which gives value to Bitcoins. He had also compared mining Bitcoin to Mining Gold, telling it is easier to mine Bitcoins. But there is a limit of 21 Million Bitcoins which can ever be mined.However, this agnosticism seems to be pretty one sided. Cryptocurrency exchange, Coinbase reportedly integrated Paypal to ease fiat withdrawals as earlier reported by Crypto-News India.However, the PayPal feature is not widely available, because according to the Coinbase FAQ, the service will initially only be available in selected countries that are not yet known.Liked what you read? Join us on Telegram

Source From : crypto-news

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