BREAKDOWN: PayPal Rolls Out Crypto for All US Customers
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 13 November 2020
⏱️ 12 minutes
🧾️ Download transcript
Summary
Crypto Twitter reacts to the announcement and answers the question: Just how big a deal is this?
This episode is sponsored by Crypto.com and Nexo.io.
Today on the Brief:
- Christine Lagarde’s digital euro hunch
- Deutsche Bank CBDC note
- COVID-19 resurgent
Our main discussion:
PayPal is rolling out crypto to all its users and increasing transaction limits from $10,000 to $20,000. In this episode, NLW breaks down the community response to the news, including an interesting discussion of whether the company’s BitLicense requires PayPal to hold 1:1 all the BTC its customers pay for.
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Transcript
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| 0:00.0 | We are not seeing the same sort of retail mania that we had in 2017, and we're at a price |
| 0:06.2 | that Bitcoin has only been at for something like 10 days of its entire life. |
| 0:10.0 | So whether or not that is due entirely to PayPal or partly due to PayPal, it's clear |
| 0:14.9 | that there is a lot going on under the hood of the Bitcoin community right now, and it is |
| 0:19.0 | going to be exciting to watch play out. |
| 0:22.6 | Welcome back to The Breakdown with me, NLW. |
| 0:26.6 | It's a daily podcast on macro, Bitcoin, |
| 0:29.6 | and the big picture power shifts remaking our world. |
| 0:32.6 | The Breakdown is sponsored by crypto.com and nexo.io |
| 0:36.6 | and produced and distributed by CoinDest. |
| 0:40.3 | What's going on, guys? It is Friday, November 13th. Yes, Friday the 13th. The last Friday the 13th that I |
| 0:48.0 | remember was in March, and it seems to me that the Bitcoin price has changed just a little since then. |
| 0:55.9 | Anyways, I want to talk today about PayPal rolling out crypto for all its U.S. customers. |
| 1:01.9 | I did a survey of the crypto-Twittersphere to see what people think, how big a deal it is, |
| 1:07.1 | now that this news has set in over the last month or so and also come to fruition. |
| 1:12.2 | First, however, let's do the brief. |
| 1:14.9 | First upon the brief today, the digital euro hunch. |
| 1:18.4 | Christine Lagarde, president of the European Central Bank, was on a virtual panel with |
| 1:23.7 | Jay Powell and Andrew Bailey, the Bank of England governor. |
| 1:27.3 | Asked, as she always is, about a digital euro, she said, we might well go in that direction. |
| 1:32.3 | My hunch is that it will come. |
| 1:34.3 | She also reinforced that this would be a complement to cash rather than a replacement, |
... |
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