Paypal might soon use bitcoin. Institutional investors have not started investing yet

[surinteacher2016]

There's news that Paypal might start using Bitcoin for payments:

 

https://www.cryptocoinsnews.com/ebay-seriously-considering-adding-bitcoin-payments/

 

If Paypal does it then you can be sure that Amazon will follow.

 

Its big news for the bitcoin price. If you consider or guess that Bitcoin is owned by less than 1% of the population at the moment. If Paypal introduce it then watch the demand grow. Price will skyrocket upwards.

 

This video is also interesting. He suggests that Institutional investors are sitting on the fence at the moment with bitcoin. They are not exposed yet and have not bought in.

 

https://www.cnbc.com/2017/12/12/novogratz-says-he-would-sell-litecoin-after-its-massive-surge.html

Novogratz says:

• Institutional investors are "absolutely not" invested in cryptocurrencies yet, but they are watching them carefully, Novogratz also says.

____________________________________

If the big pension funds start to buy Bitcoin then its another catalyst for huge price rises in Bitcoin for 2018.

IMHO 40k price estimate is conservative for 2018

[davidst01]

99% of people in the world are not owning bitcoin at the moment. If we get 3, 4, or 5 % penetration then this is what will drive the price into the 1000,000 range. 

 

Diversify in 12 or so cryptos is a safer bet to take. In a yr or 2 we might actually see these cryptos used in commercial apps like paypal. It could be anyone of them and not just bitcoin. If you hedge your bets and buy the top 10 you could really gain financially. 

[cookai]

Yeah, Bitcoin won't be used for payments.  Just like Government issued Bonds are not used for payments.  Think of Bitcoin as the Fed, the underpinning trust that allows all of crypto to transact.   Thinking Bitcoin should do payment is like thinking the Federal Reserve should launch at P2P payments app.   

 

Think about what we trust today - a title deed for home ownership on a piece of paper.  This is laughable, but yet TODAY, more people trust this paper than the blockchain.  This will change, and Bitcoin may be the blockchain that accrues the most trust.  If it does, movements of Bitcoin will be for significant and important transactions, not for a cup of coffee. 

 

 

[davidst01]

2 hours ago, cookai said:

Yeah, Bitcoin won't be used for payments.  Just like Government issued Bonds are not used for payments.  Think of Bitcoin as the Fed, the underpinning trust that allows all of crypto to transact.   Thinking Bitcoin should do payment is like thinking the Federal Reserve should launch at P2P payments app.   

 

Think about what we trust today - a title deed for home ownership on a piece of paper.  This is laughable, but yet TODAY, more people trust this paper than the blockchain.  This will change, and Bitcoin may be the blockchain that accrues the most trust.  If it does, movements of Bitcoin will be for significant and important transactions, not for a cup of coffee. 

 

 

Dont be surprised if paypal uses bitcoin cash or Litecoin for payments. It will probably be bitcoin cash. Its worth buying some BCH to hedge ones bets.