So if you haven’t heard the news in the recent week. Online payment giant PalPal has finally caved and changed its opinion on accepting crypto currencies. After a long drawn out stance of crypto currencies not being worth the payment giants time time finally believing maybe they need to get some skin in the game finally... if you ask me, and many other crypto enthusiasts, it’s too little too late. But I think some crypto enthusiasts, myself included, would go so far as to say they never had/have a shot.
what might the reluctance be for crypto users especially “old fags” in the space might have to ever use something sponsored by/through PayPal?
PayPal, and its subsidiaries, generally speaking are trash. Trash websites that you use when you can’t get something done in a traditional or easy way...
you know... Like how previously before if some didn’t accept crypto, or debit purchases you usually had to go to PayPal... I feel like it’s important to note that really the only place I’ve ever seen on the web in the recent years require PayPal as a option for payment over conventional credit/debit systems (or trying to accept crypto) is EBay... (a subsidiary of fucking PayPal).
Now they want to accept crypto, and want the crypto community to forget that for the last 11 years they have not only been shitting on our progress made but at times trying to undermine it entirely by pushing for regulation that in some ways arguably makes/made adoption more difficult, or at least less appealing. To the sentiment that we would simply forget that shit, and let them have a cut of the crypto space I have this as my personal reply, or response...
”we do not forgive, and we do not forget”- Anonymous.
Personally I hated PayPal from the beginning, but will always have a respect for it in my heart, but not for a reason you would expect. Ironically enough, it was PayPal that REALLY got me interested in crypto, and I’m sure was for many others as well.
WHAT?! PayPal for you IN to crypto? That doesn’t even compute... care to elaborate...?
sure, see, it was way way back in the before times of 2010, Barack Obama was president and everyone seemed real happy about it... personally I couldn’t care less, but as my personal economic status was for lack of a better term “shitty” I had taken up trying to earn some spare cash online doing tasks that required little to no work... stuff like traffic exchanging, paid to clicking, and surveys... most paid out in gift cards which ya know... not obviously convenient... cause I really just wanted the monetary value of the card. This led me to needing to use services like eBay to sell the card(s) to get the money.
It was antiquated and stupid with multiple hoops to jump through to achieve the end goal, but A) it was a simpler time, and B) I was a “simpler” person. Haha.
long story short, around the 5th or 6th gift card I unloaded some asshat finally decided to teach me about PayPal’s chargeback features, if your NOT familiar with PayPals charge back features then you are both lucky and about to get a education, because while in the crypto space the concept of a chargeback or refund is not only impossible in most cases but laughable and goes against the core principles of blockchain, but to companies like PayPal who see you less as a user and more as a consumer it I suppose gives them some sick self justification that charge backs are okay, and that they are in some way entitled because they are providing you with such a important service... (FUCK THAT)
they took the value of the gift card out of my PayPal account leaving me with negative PayPal doll hairs, and when I confronted their service department about the issue and was able to further more provide proof that I did not scam the person as the buyer was claiming (and to some extent PayPal itself was claiming as well) but they were not too interested in hearing my side, the side of the seller.
The response I got from PayPal’s staff those 10 year ago really rang through my ears, and you might say opened my eyes to what transactions online really should be like (in combination with reading “THE white paper” OBVI)
...their reply was simply this...
”you need to be careful when making transactions with others online, especially when transacting in goods that are in a digital form/fashion as there is less ability to verify the legitimacy of digital products”
they never reversed the charge back, and to my knowledge on the account there is still a “debt” that PayPal is requesting me to pay, which on principal I never fucking will...
the point of that insanely long and boring diatribe was simply to illustrate what PayPal’s thoughts and philosophy’s on customer expectations and “digital goods transactions” has been in the past, and probably still is, and then add with all that to consider, ask why the fuck any respectable user would use OR CARE for PayPals new 3rd party custodial service for crypto?
they didn’t want to be apart of the space and have had ample time... now they want to be accepted into our community, have us forget their shitty stance on custodial finance, just to be bent over with whatever fee’s THEY decide to operate with. Cause let’s face it... they WILL have fees, probably ones that almost rival coinbase in exorbitance. But we don’t need another fucking coinbase and even if we did, I would want one that hadn’t already openly talked shit on the platforms they were seeing to be apart of themselves now, and I certainly wouldn’t want one with the history of treating it’s user base like PayPal has in the past.
ultimately, the decision for anyone to use their service now that they have it is indeed a personal one, however I can firmly say, that for me that even though PayPal now is offering crypto services within their payment platform, I could hardly give a shit. And will never utilize their service...
If you liked this read give it a thumbs up, a tip, or fallow me. Most of my stuff is kind of along this vein of writing.
as always would love to hear other’s thoughts and opinions in the comments.
*side note, if you click the pictures within this article it SHOULD redirect you to a few of the many points through out bitcoins history in which PayPal was NOT in support of it or other digital assets*
luck to all with your various crypto vestments! Hodl strong my fam!