Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
I think there will be many winners. The ones with clear use cases that are solving problems. The blockchains that are being adopted by business and government. It won’t just be Bitcoin and Eth. That’s where the money is going initially due to first mover advantage and name recognition. Both have major scaling issues as well. 900 million dollars of venture capital money went into Blockchain/Crypto companies in the third quarter alone. They’re speculating on this new tech just like us and not just dumping money into btc and eth. Everybody’s trying to find the next blockchain google or facebook. A lot of millionaires and billionaires will be made over the next decade.
You have to consider where we are in the development of blockchain. Think mid 90’s internet (not sure how old you are). No social media companies, streaming video, online shopping, none of that had jumped off yet. You had to dial up through the phone and would get knocked offline if you got a call. That’s where we are. The infrastructure is still being built, worldwide regulations are still needed. The price action we see is due to speculators trading the market, not actual utility. Of the cryptos listed above only XRP is actually being used at an enterprise level right now.
you have 100 billion locked into Ethereum. Let that marinate
This would only remain true assuming ETH can scale sooner rather than later. Granted there are solutions available now that supposedly scale better now technically there isn't anything worth using in the Crypto space as of today. ETH couldn't handle Crypto kitties how would handle an app like Uber or Instagram in its current state. Even recently people including myself were getting high fees while attempting to use Uniswap to trade.ETH 2.0 is supposedly a few years away so this gives the other platforms an opportunity to build true apps and not bullshit like Defi that no one is using for its true purpose.
Truthfully ETH similar to BTC has a first comer advantage because of its smart contract usage. That doesn't mean that will remain the case especially if one of the other platforms can get a real app or big enterprise partnership. AOL was the biggest or one of the internet provider in the early days. Today not so much.
Honestly I've come to realize that usage and potential partnerships doesn't mean much in Crypto. If it did projects like vchain and xrp would be valued higher based on their partnerships and potential partnerships due to their current customers.
I’d be in TRON. These crypto sou sous are using TRON as their currency of choice which will pump the price.
PayPal to open up network to cryptocurrencies
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.
Bitcoin surges after Paypal jumps into the cryptocurrency business
PayPal is launching its own cryptocurrency service, allowing people to buy, hold and sell digital currency on its site and applications.
www.cnn.com
Yep
Bitcoin surges after Paypal jumps into the cryptocurrency business
New York (CNN Business)PayPal is launching its own cryptocurrency service, allowing people to buy, hold and sell digital currency on its site and applications.
The online payments company declared adding crypto was a significant milestone on the path to mainstream adoption of cryptocurrencies such as bitcoin. Bitcoin investors agreed: Prices rose 5% on the news Wednesday.
The efficiency, speed and resilience of cryptocurrencies give people financial inclusion and access advantages, said PayPal President and CEO Dan Schulman, who described the eventual shift from physical to digital currencies as "inevitable."
Cryptocurrency is digital money exchanged without fees between two parties online with no involvement from traditional banks and no regulatory oversight by national governments.
"Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange," Schulman said in a statement. "
How it works
PayPal says its new service will give customers the ability to hold and exchange Bitcoin, Ethereum, Bitcoin Cash and Litecoin cryptocurrencies using the company's digital wallet, which lets people shop online, request and send money.
The company's US customers will receive crypto service access in the coming weeks, but they won't be able to pay for products and services using cryptocurrency until early 2021. PayPal's Venmo customers and select international consumers won't have crypto services until some time in the first half of 2021.
Investors responded positively to the news Wednesday, as PayPal's (PYPL) stock price surged following opening bell before retreating close to where it opened for the day. The company's stock has more than doubled since the beginning of the Covid-19 pandemic in the United States in mid-March.
The pandemic has fueled a boom in the online payments industry and companies like PayPal, Square (SQ) and Venmo -- which is owned by PayPal -- because many coronavirus-wary consumers are avoiding the use of physical cash.
PayPal isn't the only major company betting on cryptcurrencies. Square spent $50 million to buy more than 4,700 bitcoins earlier this month. Square Chief Financial Officer Amrita Ahuja told reporters at the time that the company believes bitcoin could be more a "more ubiquitous currency in the future."
Bitcoin surges after Paypal jumps into the cryptocurrency business
PayPal is launching its own cryptocurrency service, allowing people to buy, hold and sell digital currency on its site and applications.
Yep
Bitcoin surges after Paypal jumps into the cryptocurrency business
New York (CNN Business)PayPal is launching its own cryptocurrency service, allowing people to buy, hold and sell digital currency on its site and applications.
The online payments company declared adding crypto was a significant milestone on the path to mainstream adoption of cryptocurrencies such as bitcoin. Bitcoin investors agreed: Prices rose 5% on the news Wednesday.
The efficiency, speed and resilience of cryptocurrencies give people financial inclusion and access advantages, said PayPal President and CEO Dan Schulman, who described the eventual shift from physical to digital currencies as "inevitable."
Cryptocurrency is digital money exchanged without fees between two parties online with no involvement from traditional banks and no regulatory oversight by national governments.
"Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange," Schulman said in a statement. "
How it works
PayPal says its new service will give customers the ability to hold and exchange Bitcoin, Ethereum, Bitcoin Cash and Litecoin cryptocurrencies using the company's digital wallet, which lets people shop online, request and send money.
The company's US customers will receive crypto service access in the coming weeks, but they won't be able to pay for products and services using cryptocurrency until early 2021. PayPal's Venmo customers and select international consumers won't have crypto services until some time in the first half of 2021.
Investors responded positively to the news Wednesday, as PayPal's (PYPL) stock price surged following opening bell before retreating close to where it opened for the day. The company's stock has more than doubled since the beginning of the Covid-19 pandemic in the United States in mid-March.
The pandemic has fueled a boom in the online payments industry and companies like PayPal, Square (SQ) and Venmo -- which is owned by PayPal -- because many coronavirus-wary consumers are avoiding the use of physical cash.
PayPal isn't the only major company betting on cryptcurrencies. Square spent $50 million to buy more than 4,700 bitcoins earlier this month. Square Chief Financial Officer Amrita Ahuja told reporters at the time that the company believes bitcoin could be more a "more ubiquitous currency in the future."
Not sure if it is mentioned in this article, but apparently PayPal isn't going to allow you to withdraw Crypto off of the platform and of course will not give you the keys.
Overall still a good start though. Although it defeats the purpose of crypto, people outside of the general crypto community more than likely will not care.
ALL Fintech's started the same way. They'll allow transfers in due time
Keys? What CeFi you know that gives you keys?
Binance, Coinbase, CashApp, Robinhood....NONE give you keys
So I'm baffled why people keep bringing that up. Hell you expect from a CeFi?? Hahahaha
Do banks give you keys to your CASH? No, the money in your account is an IOU same with Crypto.
Anyway they're an ON RAMP for Crypto so this is GREAT NEWS. We wanted adoption, this is what it looks like.
Easily the biggest adoption in the history of Crypto so far, hands down.
Paypal has over 450 Million users worldwide
Better buy as much $VGX as possible
Shit bout to take off.......
modernconsensus.com
NBA star Tracy Mcgrady joins Voyager Digital as advisor
National Basketball Association star Tracy Mcgrady has joined the board of a cryptocurrency broker as an advisor.
According to an Oct. 19 announcement, Mcgrady will help educate investors about the interest available on the 17 crypto assets available through the Voyager Digital crypto broker. The basketball player and his business partner, Grant Haas, have joined up with the firm to give away $2 million—$5 per account—to onboard new users. Mcgrady said that he has long been interested in financial education:
Better interest than banks
Mcgrady explained that when Haas introduced him to Voyager Digital—and cryptocurrencies in general—he concluded that the firm “is bringing financial services to the masses.” He emphasized that the annual yield percentage of 8.5% on USD Coin stablecoin deposits “allows all customers to earn on their money much faster than they would with a traditional bank account.”
Just last week stablecoin USDC’s Centre Consortium announced a major development when USDC was ported also to the Stellar (XLM) blockchain.
Shit bout to take off.......
NBA star Tracy Mcgrady joins Voyager Digital as advisor - Modern Consensus.
NBA all-star and two-time scoring champion Tracy Mcgrady is now an advisor to the crypto broker Mcgrady will help educate investors about the interest available on the 17 crypto assets available through the Voyager Digital crypto broker. The basketball player and his business partner, Grant...
modernconsensus.com
NBA star Tracy Mcgrady joins Voyager Digital as advisor
National Basketball Association star Tracy Mcgrady has joined the board of a cryptocurrency broker as an advisor.
According to an Oct. 19 announcement, Mcgrady will help educate investors about the interest available on the 17 crypto assets available through the Voyager Digital crypto broker. The basketball player and his business partner, Grant Haas, have joined up with the firm to give away $2 million—$5 per account—to onboard new users. Mcgrady said that he has long been interested in financial education:
Mcgrady launched a financial advisory program after becoming a seven-time NBA All-Star and two-time scoring champion, over a 17-year Hall of Fame career. Voyager Digital’s CEO and co-founder Steve Ehrlich recognized Mcgrady’s deep interest in financial education. He also said that he hopes having the athlete on board will increase his firm’s credibility:
Mcgrady also said that he and Haas also invested through Voyager Digital and the experience is what brought him to partner with the company.
Better interest than banks
Mcgrady explained that when Haas introduced him to Voyager Digital—and cryptocurrencies in general—he concluded that the firm “is bringing financial services to the masses.” He emphasized that the annual yield percentage of 8.5% on USD Coin stablecoin deposits “allows all customers to earn on their money much faster than they would with a traditional bank account.”
Just last week stablecoin USDC’s Centre Consortium announced a major development when USDC was ported also to the Stellar (XLM) blockchain.
Are you asking me do I want the ability to move my money from one bank to another bank or keep it in my back pocket? The answer would be yes. I'm not a purist by any means, but why would I personally use a platform that does not allow me to move my Crypto to a place where I do in fact own the keys or to another place I would like to do business with even if I don't own the keys there.
Do I think PayPal will change this in the future? Maybe they will. To your point, I believe Cash App was doing the samething initially and I decided not to use it until I could move my funds as I pleased.
Adoption comes in many forms and you don't need to agree with all of them just for the sake of maybe making money. Some people really do care about the fundamentals of Crypto and dont really care about mainstream adoption.
It's TEMPORARY, you'll be able to move your crypto soon enough
You got PAYPAL going crypto and expecting to have your KEYS? Hahahaha
If you don't wanna rock with CeFi's go DeFi....simple as that
However the masses with limited to no crypto knowledge will go CeFi
Embrace their decisions for what it's worth
Adoption will make the market cap go into the several trillions
You better care
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Per the the norm, you're overly emotional and clearly aren't reading. You haven't really said anything i didn't state myself. I stated that this seems to be good for the overall space and people who are new and want a trusted/familiar platform well be fine with using PayPal. You're just rambling at this point.
I have no need to use PayPal or any platform that does not currently fit my needs. This does not just apply to the subject at hand. CashApp was just convenient because people were repaying me using it and I didn't feel like transferring the funds to an exchange. Even if PayPal allowed me to transfer, I probably would not bother to create an account or technically reactivate it. From my perspective, I don't care about PayPal as a user of crypto. As far as an investor in the space this type of adoption will hopefully lead to real usage. Even with that i remember the hype around Bakkt and to a lesser extent Facebook.
Hahahaha. I read just fine
Its NOT ABOUT YOU.
It's about what will push CRYPTO
If your don't like something don't indulge in it.
Again, so called seasoned people talking greasy
About what NEW money will bring.
there's no GROWING without CeFi
Its called ADOPTION. Like it?
Lastly. Sounds like YOU overly emotional
If you ask me. Hahahahahha
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Ok.... We don't need to discuss this further. you never had a point to begin with considering we said the exact samething.
You don't comprehend well.
my point was WHAT THE FUCK YOU EXPECT FROM A CeFi??
Why would you POINT OUT THEY DON'T GIVE YOUR KEYS WHEN NONE DO?
#CheeseAndRice #Nexxxxt
Coinbase DOES NOT give you private wallet keys. Hell are you talking about?
and why would you tell me about transfers for?
From coinbase
Coinbase Wallet FAQ
What’s the difference between the Coinbase app and the Coinbase Wallet app?
The Coinbase app (available on iOS and Android) is the company's product for individuals looking to buy or sell cryptocurrencies, also available at Coinbase.com. It is an easy, secure, regulated on-ramp to crypto using US dollars or other local fiat currencies. You can safely store crypto on Coinbase so you don’t have to worry about managing your own private keys. Coinbase.com and the mobile apps are available in more than 100 countries.
The Coinbase Wallet app is a separate, standalone app that allows users to store, or custody, their own crypto, and explore the decentralized web with a dapp browser. You do not need a Coinbase account to use the Coinbase Wallet app. Coinbase Wallet helps users manage their own private keys and store their crypto assets directly on their devices, not with a centralized brokerage or exchange.
Aaaaaand I mentioned transfer speed because you will want transfers in-between the wallet and coinbase to happen quickly before you lose an oppurtunity.now is where you say but but I was talking about coinbase itself!
Carry on douchebag..no no..it's true your definitely a douche.
SMH. Please dumb it down for me then.
Because if you withdraw it to your own wallet, you have the keys. Other platforms allow you to withdraw from their platform to another destination. As of today, PayPal does not. Again we are going around in circles and you haven't said anything that has not been said by me directly or indirectly. To help you out ill just list my thoughts for you.
1. This overall good for the Crypto
2. New comers will not care about keys or the ability to withdraw
3. Crypto purist will not use PayPal in its current state
4. While I'm not a purist, I'm not interested in using PayPal because I can't withdraw my funds.
5. I don't care about PayPal possibly changing their stance in the future because there are platforms that fit my needs now. Last I checked they were centralized too.
6. I expect a centralized exchange to allow the ability to withdraw my funds. Technically I already answered but.....
Listen. I SAID it was COMING soon. This is What ALL FiTech's did initially.
So making WITHDRAWING and issue at this point is just plain STUPID.
And AGAIN, all I said was even MENTIONONING Private keys about a CeFi (Paypal) is also STUPID cause it's the way they ALL operate
Other than that we kinda agree
Again for the people on the otherside of the room
ALL FiTECH's didn't ALLOW WITHDRAWALS & TRANFERS AT FIRST
So please stop whining about it
Anyway carry on dogz, good luck I hope you make as much as I did
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We're mixing things up here. I'm talking about the EXCHANGE not a Wallet APP
Hahahahaha. Good luck to you too....I hope you make LOTS OF MONEY
and it transfers FAST
Hahahahahaha, bunch of dumbasses on here
Did I ever say it wasn't coming or did I say I'd use the platforms the fit my needs as of today. Did I ever say all Fintech's allowed withdraws from day one. It doesn't matter if all do allow withdraws or not. It doesn't matter that exchanges don't give you the keys. Why??? Because you can find an exchange that will allow you to withdraw and by proxy create/get your keys if that is what you care about.
End of the day people are going to use services that fit there needs. For the general population, their top need may be trust with a company they already use and makes purchasing easy.
Assuming I'm comprehending correctly the person below has earned more money from crypto than all of us lls.
its all insane! hope y'all brothers make as much $$ possible, need to understand the inner machinations a lil better, just checked my coinbase acct and im up another G in 1 day 
, just purchased a bunch of shit off of talk and let it sit for the past year+ or so, and its finally looking like good, i barely even check the shit anymore!! still only have coinbase but im trynna see what other platforms & coins do!
, just purchased a bunch of shit off of talk and let it sit for the past year+ or so, and its finally looking like good, i barely even check the shit anymore!! still only have coinbase but im trynna see what other platforms & coins do!
bulls on parade baby..
The time to buy was 3 months ago... stand back and stand by.