Industry executives and crypto investors are bewildered company's descriptions of Bitcoin, Ethereum, and Litecoin.
How did PayPal describe Bitcoin and other major crypto assets?
Albeit PayPal's descriptions of major crypto assets are not factually incorrect, industry executives pinpointed the awkward wording of the descriptions.
"Bitcoin introduced innovations that showed crypto could someday be as commonly used as cash and credit. It set off a revolution that has since inspired thousands of variations on the original. Someday soon, you might be able to buy just about anything and send money to anyone using bitcoins and other cryptocurrencies."
The descriptions of Ethereum, Litecoin, and Bitcoin Cash all carried a similar tone.
PayPal seemingly tried to word it in a simple manner that everyone, including individuals who never heard of Bitcoin before, would understand.
In contrast, Cash App, as an example, which processed $1.63 billion worth of Bitcoin sales in the third quarter of 2020, emphasized the technical specifications of BTC in its description.
Square's Cash App emphasized cryptography, cryptocurrency, decentralization, and peer-to-peer technology in its description of Bitcoin.
"Bitcoin is the first and most well known example of a new kind of money called a 'cryptocurrency.' It creates, holds, and transfers value using cryptographic equations and codes to ensure that transactions can only be completed once. One of Bitcoin's most important characteristics is that it is decentralized using peer-to-peer technology-meaning no single institution can control the Bitcoin network."
PayPal's integration of crypto purchases and major cryptocurrencies, like Bitcoin, is overall optimistic for the sector.
Why crypto communities are baffled by PayPal's Bitcoin and Ethereum descriptions
에 게시 됨 Nov 13, 2020
by Cryptoslate | 에 게시 됨 Coinage
Coinage
최근 뉴스
모두보기
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.