Could Paypal crash the coin market..or..How deep are YOU in?

topstuf

Not familiar with all the nuances of paypal since I joyously discontinued their .."service."

But....I just had another thought. Almost all markets that ...really....crash are credit driven. People borrowing money to buy stuff that then comes....due. And they can't pay so they have to liquidate what they bought.

How high can you go on Paypal credit? Is there a limit "graved in stone" or does it vary with your credit rating?

Does anyone know the average depth of the limit that most Paypal clients carry?

It seems that a great deal of the coin buying is on some sort of credit.

kieferscoins

Paypal can either use an existing balance from other payments, through your credit card or bank account.

If you owe alot of money you don't owe it to paypal and they won't crash a coin market.

Cameron Kiefer

topstuf

Thanks Cameron, forgot that they used my credit card so THEY carry and issue no credit.

Now I'm wondering what the average balance on coins is on credit cards.

ksteelheader

Now I'm wondering what the average balance on coins is on credit cards. ...None, here!!!

BAJJERFAN

I would assume that you can PeePal till you have reached the limit of your CC. I read recently that the avg credit card holder is $8 K in debt. I have around $1000 from a recent purchase but I expect to retire that shortly. Its bad business to borrow more than you can pay back in a short amount of time cuz NUTHIN SUX more than payin fer the past; like that high dollar steak dinner you had 3 months ago and put it on your card.

Dave99B

PayPal is the handiest thing since sliced bread. Better than "the wheel". I can't live (or sell) without it.

Dave

TWQG

<< <i>It seems that a great deal of the coin buying is on some sort of credit. >>

-how did you come to this conclusion?