RE: The ugly truth behind PayPal accepting Crypto

Yes, this to me seems no different than libra coin. So Paypal was with libra coin project backed out last minute. Now is doing its own crypto project. Possibly it's own cryptocurrency. Now it would seem to me as Paypal has the bigger network that would make bitcoin less valuable not more.

So although Paypal is using Bitcoin as it were..the network is Paypal. The thing as well is Paypal can store and conduct it's own transactions on it's own ledger and implement protocols that work with their system. This feels similar to what happened with Electroneums instant payment processor. Once the blockchain transaction is recorded before the transactions are confirmed there is an okay to hold that crypto on their network and allow you to make a purchase faster although the parties haven't actually received the crypto and Paypal only needs but do this.

None of this feels like a win for Bitcoin to me. In fact it just feels like operations thats been run already so i feel this entire paypal thing is over hyped. i think its good for Paypal like it would have been for libracoin. I don't think bitcoin became anymore useful. I think the masses of people will want to use crypto like the use the Cash App. So i don't really consider this a crypto win at all. Perhaps the price goes up the utility doesn't and im not entirely optimistic we're going to see any more significant gains from Bitcoin and if we do i highly doubt we will see anything beyond the $30k range.

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