One of the 4 coins picked by PayPal that you can HODL on the PayPal siteā¦that is the main thingā¦and this along with the usual āfollow the leaderā as BTC price goes upā¦that is how it is going.
Myself, I need at least $85 Litecoin to break even on the HODL/Hoard I have in playā¦just saying.
brad
imo - buying on paypal is not buying crypto - its like buying on robinhood - you dont own the crypto, you are just buying āinterestā in it - they (paypal) may not even have hodl enough crypto to cover what everyone buys - since you cannot pull it out of paypal, they could just be holding your cash, as far as anyone knows. Unless they can show a block transaction when you make a purchase, I wouldnāt believe it. And not to mention, not your keys, not your crypto. Is it a big deal? sure - there are lots of naive people out there that might now get into crypto simply because they can buy it on paypal - but man, you can do it on cash app (and even withdraw it - well, Bitcoin only), robinhood (works same as paypal - cannot withdraw or spend it), can do it using bitpay, coinbase, crypto.com - the list goes on. Paypal didnāt invent the idea, they just followed those that already do it.
It takes USD 43.6 bln to buy the remaining Bitcoins at current rates of USD 17.800.
But it would only take USD 1.3 bln to buy the remaining Litecoins at current rate of USD 72.85.
Litecoin constantly is in the top 5 crypto by volume and has the widest spread (wallets) among all Bitcoin variants and Litecoin.
I am kinda impressed by PayPal howeverā¦the regular wallet and the BTC wallet are right in your face the same sizeā¦I can see the amount of BTC I have on Paypal also (about 0.0037 some suchā¦and I bought in at $50.00 and can sell out at $54.00 now. So for its usesā¦I can see why they did it this way. As stated before IMHO, Paypal will use KYC and such with BTC in a debit card format to jump-start the āunbankedā of the world in dubious countries with dubious govāt and banking, bribes, etc. And IMHO will offer banking itself and also be an exchangeā¦just too much $$$ out there for PayPal to bring in the unbanked using BTC āsecurityā and debit BTC card to ājumpstartā the process. Not a fan, BTC/Crypto works or will work at that point just as well without banking, but Iād bet my own $$$ that is where this is going in Paypals view long term
Brad
but is there an actual blockchain txn for what you bought? ore are they just flipping the currency symbol from $ to BTC? I think they are literally just doing accounting entries and that there is zero btc that is yours. did you look at actual btc value when you bought? what it would be at if you sold now? is it close?
on Paypalā¦I admit limitedā¦but it shows actual BTC bought and does the worth pretty much using normal daily calculators on suchā¦soā¦if you add BTC it will add the amount of BTC you control on Paypal Iād imagineā¦even though it can only go in/out via USD.
as to cap gainsā¦they may even send out such notices at the end of the year or it may all be up to you
Iāve no idea if there is a limit to how much BTC you can hodl in Paypal
but for Paypalās purposesā¦it allows BTC/Crypto payments and use worldwide to unbanked etcā¦so far from what Iāve read Paypal thinks this is working out 2x to 3x better than they thought.
but again, it is paypalā¦it has limitsā¦same as if banks start pushing btc in the same manner which
is what iād expect next 
it is what it is I guess
again from what I can tell it is spot on as far as the amount of BTC in Paypal account shown and worth
unless Iām missing fees they add when you withdrawā¦which may be likely
brad
shows it how? with a āBTCā that does not mean you actually have āBTCā in your account - if anything they hold all the Bitcoin and just use simple accounting to alot it people and who knows maybe they hold 100 btc but then they could go and alot 200 to people - when it is an offchain action and you dont hold the keys - its just a data entry - not real in any sense. You cannot withdraw it you cannot transfer it you cannot use it to pay for anything. You can only ābuyā and āsellā to them and only them and they dictate the price - how close is their price even?
What you say is true. But they do show the actual amount you did buy and/or accumulateā¦at least and the price does reflect any gains or losses. Bitpay i think ā¦you have what 1/2 hour to spend it or it revertsā¦they could have gone another route. Also with their previous use of Viemo wallet they allowed in/out of crytpoā¦I suspect they will eventually allow thisā¦as Iāve said, they want the un-banked of the world to use KYC and IDās and probably start them on the banking path with BTC/Cypto to be offered debit cards also by PayPalā¦then comes offer of checking/savings and loansā¦you can do all this without banking but that IMHOā¦is part of what PayPal is shooting forā¦to get the un-banked of the world into banking using the security of BTC and KYC to do the process outside traditional banks. If I was an āevil geniusā place like PayPal it is how I would go. just saying they are not exactly at the wrong edge of financeā¦they are closer to a bank then they are a btc innovator. My bet on their endgame to eventually control un-banked from KYC to debit card to full banking services to full crypto exchange serviceā¦as crummy as banking in the 3rd world is they have a good shot of pulling this off!
Brad