PayPal In Talks To Buy Crypto Custody Firm Curv, Reports Say

PayPal is said to be in the process of buying Curv, a technology firm that powers the secure storage of cryptocurrency, news outlet CoinDesk reported Tuesday, citing three sources familiar with the situation. From the report: Israeli news outlet Calcalist reported Tuesday that Curv was being sold for between $200 million and $300 million, without naming the buyer. "PayPal is buying Curv for $500 million," a source from within the digital asset custody space told CoinDesk on Monday. "From where I'm hearing it, I'm pretty sure it's true." Several people in the cryptocurrency space have said PayPal, which made an entrance to the crypto space last year, turned its attention to Curv after talks to buy crypto custody and trading firm BitGo fell through last year. PayPal offered $750 million in cash for BitGo, two sources familiar with the deal told CoinDesk. Bloomberg has corroborated the talks.

Sending cryptocurrency with PayPal?

[timeOday]

"Can I use Cryptocurrencies to pay or send money with PayPal?"

At this time, you cannot use Crypto as a way to pay or send money on PayPal.

https://www.paypal.com/us/smar... [paypal.com]

This is what I don't understand. Since the overhead of bitcoin is too high for individual purchases, why doesn't PayPal allow you to keep a balance of bitcoin and send and receive them fractionally, like a mutual fund? Then PayPal would periodically do a few large bitcoin transactions to reflect the aggregate.

I am sure there are companies that do this, but PayPal seems ideally positioned to make it widespread - yet they haven't.

Re:Sending cryptocurrency with PayPal?

[iggymanz]

Do you *really* want to keep a "balance" of stuff that can dive 10% or more in a day? Sure, it can rise in great leaps too, until it doesn't or won't. For what purpose, to be "cool" that you're using bitcoin?

Re:

[timeOday]

Evidently not, since I've never purchased any. But it should become more stable if it became more widely used for actual transactions, and a paypal frontend would help.

Re:

[iggymanz]

Yet the news for past couple days is opening it up to even more investors and derivative funds...going to be ten times the janky roller coaster ride now. Exciting for gambling, I'd say do bitcoin rather than go to casino but only with money you can lose for entertainment purposes.

PayPal preserving its Cash Balance with BTC

[Anonymous Coward]

You are right, most people prefer to have savings stored in a fiat currency with 100% certainty of debasement. For instance the m2 USD money supply increased more than 15% for the year 2020. Very few will use Bitcoin for savings, with a maximum volatility, but with the certainty of absence of debasement.

Money is a tool to move wealth across space and time.

Re:

[iggymanz]

The inflation rate for last 12 months was 1.36%. Meanwhile you can buy bitcoin in the morning and it might take a 10% shit during the day. =

Most my "fiat" was put into retirement funds (7.5%+) and pension getting over 6% a year for decades. Do you have a point?

Re:

[iggymanz]

The basket of goods the government uses for that number are public and includes more than just "goods from Asia"

No, those other things you mention are not relevant to inflation at all. Back to econ 101 for your ignorant ass.

Re:

[iggymanz]

It does include what the consumer spends on real estate.

As for "financial assets", you seem ignorant of what the metric is intended to measure. Therefore, you don't know what inflation is.

Re:

[iggymanz]

Wrong again, index also factors in education and healthcare.

Conflating economics with a game token not meeting any definition of money (bitcoin) also is ignorance. Hating on the game token with its wild swings of purely speculative value is separate issue from money and economics.

Inflation is not defined by M2 growth, it is mostly disconnected because inflation primarily caused by structure of economy.

Any slashdotter who doesn't know healthy economy must produce a certain level of inflation is just ignora

Re:

[iggymanz]

Said the AC who lost all credibility, not understanding what inflation index means nor contains, and conflating bitcoin with money.

Your stupidity, ignorance and self-delusion have been exposed. You've lost the argument.

Re:

[hai_Priesty]

As a previously frequent user of Paypal in multiple currencies, it seems like Paypal only updates its currency exchange rate about twice - or at most possibly 3 times - a day. It would seem to me for now paypal likely doesn't have a large group of designated staff to constantly monitor / change rate 24/7/365 to the market yet.

Thus at my time zone we can take advantage of the old exchange rate late at night, before the rate updates occurs a little past midnight. Paypal charges a couple of percentage poin

Re:

[junglee_iitk]

As a prev developer of PayPal, when I was there they used the rate published by royal bank of scotland.

Re:

[timeOday]

Seems rational, although actual stock brokerages manage somehow? It occurs to me I'm not real clear on how e.g. mutual funds handle this.

Re:

[cusco]

I'm just waiting until the next PayPal hack, how many have there been now? Six? Eight? I lost track several years ago. A BitCoin exchange sounds right up their alley. "Oh, we were hacked again. Looks like no one had any btc deposited in the exchange, right? You did? Sorry, you're SOOL, just like all the other customers that we've hosed over the years."

Re:

[octagon]

Depends upon the blockchain implementation.

See XMR.

Monero is 100% anonymous.

Re:

[octagon]

XMR uses ed25519; one of my favorite crypto schemes.

What is your definition of scaling solution?

Mimblewimble? (yes it is compatible with that), atomic swaps, yes. The cryptography with atomic swaps works just fine with other algos as long as the non-private swap is started first.

On chain scaling? sure it takes more kB to transact. But Privacy costs....

Environmental disaster

[pc12345]

Are all crypto currencies the environmental disaster that bitcoin is?

Hopefully it becomes un-PC for any company to be associated with crypto currencies soon.

Re:

[cmseagle]

Are all crypto currencies the environmental disaster that bitcoin is?

Nope! [investopedia.com]

Re:

[account_deleted]

Comment removed based on user account deletion