Can you say landslide? That’s the word that possibly most accurately describe’s last week’s poll. In that poll, we asked: “PayPal integrating digital currency: A good or bad thing?”
We thought we might actually have a close race between “yes” and “no”, but that wasn’t the case at all.
In total, there were about 700 votes cast, and a whopping 636 voters (90.86 percent) said that a digital currency integration into the PayPal platform would be considered a good thing. Only 64 people said that such an integration would be bad (9.14 percent).
But why in the world would such a thing be considered bad in the first place? Surely the audience PayPal would bring digital currencies to (not to mention the legitimacy it would bring) is a good thing, right?
Right. At the same time, however, exists the camp of individuals who don’t feel the idea behind such an integration would be the right thing, especially for a decentralized currency.
Consider many of the complaints users in the bitcoin community have about traditional financial institutions (and we use bitcoin in this case at it is the most popular of digital currencies). Slow processing, possibility of charge reversals, and not to mention those fees that add up over time.
And while PayPal is convenient (and so very ubiquitous in the world of e-commerce), there’s no shortage of complaints from its user base regarding account freezes, excessive fees, and even unfairly reversing transactions.
Do bitcoin users really want a company to manage their funds that shouldn’t in the first place be managed by a central authority? It’s certainly something worth considering, but also remember that nobody is being forced to use PayPal. It would merely be an option among a few available now, such as Coinbase, Circle Internet Financial (beta), etc.
This week’s poll takes a look at something different:
As always, let us know what’s on your mind!