The headlines say, "Bitcoin is now available on PayPal!" But is it? (hint: no) Why is PayPal bitcoin not really bitcoin? What risks does this present to PayPal? What are the risks to the Bitcoin network when these types of intermediaries have massive holdings of bitcoin? Watch this short video now; protect yourself, your people, and the network by learning about the risks. Chapters 0:00 Tobi asks, "Do you see a danger of Bitcoin becoming fractionalised by (for example) Paypal in a way that the total available balance from all accounts will inflate the actual supply?" 0:24 Risk to PayPal: High risks for PayPal, this could bankrupt them 1:57 Risk to buyers of PayPal bitcoin: If you buy bitcoin on Paypal, you did not buy bitcoin 3:08 Risk to Bitcoin: the real risk is increasing the amount of bitcoin owned by intermediaries 5:08 Consolidation of power into the hands of regulated entities who are beholden to money and not to the principles of bitcoin is the big risk to the Bitcoin network 5:32 Let's not sacrifice principles for price appreciation 5:52 My optimistic hope for the future of intermediaries and the network NOTE: In the video, Andreas references PayPal bitcoin holders as Second Class but it's worse than that. In hindsight, they are actually Cargo Class, because unlike most exchange accounts, you can't actually withdraw bitcoin to your own wallet from PayPal! You're stuck in cargo. No seat, no fresh air, no food and beverage service, amongst the boxes with no hope of moving up to second or first class. This video was recorded on Saturday, November 28, 2020, as part of the Open Topic Bitcoin & Open Blockchain Monthly Q&A session. Watch the entire livestream here: https://aantonop.io/nov2020livestreamqa What is the Open Topic Bitcoin & Open Blockchain Monthly Q&A session? Once a month, Andreas answers community questions on anything related to Bitcoin, Ethereum, the Lightning Network, really anything related to open blockchains. He’s live on YouTube for about an hour, answering the best questions asked by Community Builders on Patreon, Community Members on YouTube, and anyone who shows up during the event. How can I ask questions and vote? Well, this event is over but you’re welcome to ask your question at the next Livestream event. You can find out when it is by subscribing to the channel and turning on notifications or by visiting this playlist https://www.youtube.com/playlist?list=PLPQwGV1aLnTtqBtaD-hSCf9RwpwQQy-Ji. Community Builders who support this free work on Patreon get to ask questions and vote on questions at least a week before the event. YouTube Community Members who support this work get to ask questions and vote an hour before the event starts. Everyone else gets to ask questions and vote on questions when the event starts. Giving early access is a small way Andreas can give something to the people who help to financially support the mission and still include anyone who wants to participate. SUBSCRIBE to this YouTube channel and select the bell ? for notifications: https://aantonop.io/youtube JOIN this YouTube channel to become a YouTube Community Member and access custom emojis and other perks: https://aantonop.io/youtube BECOME a Community Builder: https://patreon.com/aantonop LEARN for FREE by taking aantonops Introduction to Bitcoin & Open Blockchains Workshop https://aantonop.io/takeaworkshop You may already know that Andreas’ mission is to educate as many people as possible about Bitcoin and open blockchain technologies. Watching and sharing these videos is one way to do that. Thank you for being part of this mission! About aantonop: Andreas isn't promoting a company or an organization; he's paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at https://aantonop.com ***Learn More From Andreas’ Workshops, Books & Events** Amazon & Kindle: http://www.amazon.com/-/e/B00MVAG8Z8 Audible: https://www.audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8 E-books & Merch: https://aantonop.io/shop Patreon: https://patreon.com/aantonop Website: https://aantonop.com Workshops: https://aantonop.com/workshops ***Connect with Andreas on Socials*** Facebook: https://www.facebook.com/AndreasMAntonopoulos Instagram: https://www.instagram.com/amantonop/ LinkedIn: https://www.linkedin.com/company/aantonop/ Twitter: https://twitter.com/aantonop Music: "Unbounded" by Orfan (https://twitter.com/grassfedbitcoin) Thanks for watching!