crypto involves the use of unique, but complicated, block chain technology for security. Pay system such as Paypal are subject to hacking without this technology.
Are they really this stupid, or are they destroying the dollar on purpose?
PayPal is not a currency. It is a merchant currency processor. It is based on real currencies. There aren't capital gains and losses for every transaction like there are for the fake currencies at least under current IRS regulations.
No. The value of my $ only changes by 2.9% at PP. With crypto it changed by 92%, and not in my favor. Neither are in my favor actually. But I can trust the former more than the latter.
Paypal is not a cryptocurrency and it does not use blockchain technology. Paypal uses technology to transfer US dollars in the US banking system, subject to US banking laws and regulations.
With all due respect, I think many of these responses miss the point. Cryptocurrencies are based on blockchain technology, but that is not the point of the currencies. The point of the currencies is to be extra-governmental. You could view PayPal as a convertible non-governmental currency. Money transfered within PayPal is digital currency. It's only when it transfers in and out of PayPal that it becomes a sovereign currency. That is not that different than Bitcoin sans the blockchain nonsense.
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@Hemispherical .... --- ....- . .-. & --- ..- - Cheers, RickO
👍.--/.. .-.. -.-. ---
crypto involves the use of unique, but complicated, block chain technology for security. Pay system such as Paypal are subject to hacking without this technology.
Are they really this stupid, or are they destroying the dollar on purpose?
PayPal is not a currency. It is a merchant currency processor. It is based on real currencies. There aren't capital gains and losses for every transaction like there are for the fake currencies at least under current IRS regulations.
No. The value of my $ only changes by 2.9% at PP. With crypto it changed by 92%, and not in my favor. Neither are in my favor actually. But I can trust the former more than the latter.
PP is a publicly owned company with a physical presence. They don't "manufacture" currency, just facilitate the trade of it. Can't compare at all.
bob
Paypal is not a cryptocurrency and it does not use blockchain technology. Paypal uses technology to transfer US dollars in the US banking system, subject to US banking laws and regulations.
What about CRIPPLEDcurrency? Like the Federal Reserve Notes.
With all due respect, I think many of these responses miss the point. Cryptocurrencies are based on blockchain technology, but that is not the point of the currencies. The point of the currencies is to be extra-governmental. You could view PayPal as a convertible non-governmental currency. Money transfered within PayPal is digital currency. It's only when it transfers in and out of PayPal that it becomes a sovereign currency. That is not that different than Bitcoin sans the blockchain nonsense.
Anyone remember ...BEARER BONDS?
They sure jumped on that lil artifact of freedom in 1982, didn't they?
I'll take my cryptophysicalGOLD all day long.