Today's big 'rumor': Paypal and Venmo will roll out crypto buying/selling soon ! 🤑

in HODL4 months ago

A 'well-placed' industry source told Coindesk:

“My understanding is that they are going to allow buys and sells of crypto directly from PayPal and Venmo,”

What is Venmo

Venmo is a mobile payment service owned by PayPal. Venmo account holders can transfer funds to others via a mobile phone app; both the sender and receiver have to live in the U.S. It handled $12 billion in transactions in the first quarter of 2018.

As the news hit that the payment processor was allegedly planning crypto buying and selling for its 305 million users, BTC/USD spiked to test resistance at $9,600.

Social Medias suddenly got very excited about Bitcoin going to $10k and then to $12k.

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For popular Twitter trader George, current levels provide the last chance saloon for bears wanting to short BTC.

“If you're a bear, this is where you short imo. Swept the highs right into daily supply. Clean invalidation level,” he revealed on Tuesday.

“I'm in a short here because I think if we start breaking above 9.9k — 10k’s we see 12k+.”

In addition to this, another exciting rumor appeared:

A second source confirmed that PayPal is looking to offer buying and selling of crypto and said the service could be expected “in the next three months, maybe sooner.”

Paypal seems to be pushing its Blockchain and Crypto agenda as it is hiring:

Around the start of 2020, PayPal posted job openings to ramp up its new Blockchain Research Group. PayPal posted eight engineering positions: four in San Jose and four in Singapore.

Only a moron do not change his/her mind

As stated by @jrcornel in this post Big News: PayPal and Venmo to offer Bitcoin support to their 325 million users!

Paypal did a 360 concerning Bitcoin as showed in the image below.

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Paypal would therefore be another fintech app to join the Crypto Revolution and offer another crypto/fiat gateway after:

  • Square in mid-2018. The company reported $306mn in BTC revenue in its recent earnings
  • Revolut in 2017 through a Bitstamp partnership
  • Robinhood in February 2018

Even with this very good news for the Crypto Space, we need to remain cautious as we had great expectations on the 3 news above and it did not materialize as a strong Bitcoin adoption catalyst.

Sources:
https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling
https://peakd.com/hive-167922/@jrcornel/big-news-paypal-and-venmo-to-offer-bitcoin-support-to-their-325-million-users
https://cointelegraph.com/news/paypal-bitcoin-rumor-boosts-12k-btc-price-rally-chances

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Potentially bullish but I'll believe it when I see the official press release

That's my boy Saint Thomas !

Nobody talks about it anymore...

Hey bro, let the rumour be! Please don't expose it 😜

I am letting it be 😂. Just sayiiiiiin

I believe that they are too late. First they manipulated the price to collect BTC from the bottom, now they make rumor to hype both their brand name and BTC to make people ready for such occasion. I find disguisting such unethical strategies of worldwide companies. To be honest, BTC will take the place of Paypal in the near future and we don't need their support on Bitcoin. Since their bag is full of BTC, they do it.

As far as my observation, if they enable this feature through paypal, their next move will be printing their own digital currency. I'm not pretty sure if it is going to be based on Blockchain technology or just an internet money. Thanks for enlighting us my dear mate :)

"They" manipulated the price
"They" create rumors
"Their" bag is full of BTC
If "they" enable this feature through Paypal

.....

What are you talking about... who are "they", the secret cabal that runs the world from the shadows? ?

ATH was the day that Futures started operating beforehand it was said that Bitcoin will be "tamed" and it these things took place, CEO of Paypal Bill Harris identified cryptocurrency as "scam" (YES the same Paypal) and It was stated by Warren Buffet that its intrisic value is like a joke. There are several examples of such negative actions taken by people who have capital to direct the flow of money. Once crypto was nothing but fun money, now it's one of the investment option. Search on google to figure out what was being said by people who are forecomers of Wallstreet, Finance Journals etc.

Yeah, I've been in crypto since 2016 and a lot of people have said a lot of things about BTC (both bearish AND bullish) but that doesn't mean there is a conspiracy to "tame" Bitcoin or systematically manipulate the markets or repress the price.

Here you're just referring to three random events

1/ The futures were well timed because the market was in a bubble and going straight up on very little volume, no manipulation, just market dynamic, plus the volume on futures were ridiculously low at the time, go back and look at the data

2/ Warren Buffet doesn't like Bitcoin, okay so what? he's said repetitively that he doesn't invest in what he doesn't understand

3/ Paypal might offer Bitcoin payment rails, they've changed their mind from 2017, again so what?

So where's the pattern here? What else you've got to prove that "they" control the market?

Market are dynamic and complicated beasts, embrace the uncertainty and the easy narratives, there is no "they".

I share the same view about it, the only positive I see from it is exposing more people to crypto.

The champion of eliminating multilevel affiliate marketing programs is going to deal in crypto? Don't they realize a lot of those token came from multilevel affiliate marketing programs.

Seems odd right? Well, they did not confirm it yet did they?

thanks for sharing

Posted Using LeoFinance

You are more than welcome, thanks for the kind comment

Great news!!! I hope this will be a easy to use good UX for non cryptos 🙂

Yes they need to make it simple but Revolut did a great job for this. It is quite easy I believe.

That is great! This will break the BTC 10k wall 😋

This is absolutely a really amazing rumors. I am hoping that they understand the potential of blockchain and make the decision to support it.
We'll see!

I truly hope they hear you !

Just wait till the major banks start lending against crypto. So it begins.

Posted Using LeoFinance

Subprimes all over again hehe