In its early years, one of the breakthroughs of Paypal was the simple fast and efficient lowcost payments among users. Now, you have cryptocurrencies like bitcoin and similar services like cashapp, doing a similar thing as what Paypal has been doing. But now, may be the best time to get rid of Paypal because of the new changes to their company policy.
The new policy update from Paypal now permits them to "sanction" users whom they consider to be spreading "misinformation" and other content that "presents a risk to user safety." The user may be subject to "damages", which include them removing $2,500 directly from your Paypal Account, and you acknowledge that the amount is fine in the user agreement. And it's all up to Paypal for them to decide what is "misinformation" or what poses a risk to user wellbeing.
I don't know about you but I don't feel like being punished monetarily for expressing views that Paypal arbitrarily decides is wrong. With the rise in censorship, bitcoin and decentralized cryptocurrencies are more important than ever.
tl;dr
Paypal has updated its user policy to include possible fines of about $2,500 for speech it considers "misinformation" or "wrong" other than those which are illegal like the incitement of violence. This goes into effect on November 3, 2022 but has not yet been put up on their webpage.
Edit:
The story doesn't rank up on google's search engine. You're more likely to chance upon it using Duckduckgo. Search for the strings "paypal use 2,500".
The daily wire broke the story:
https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation
Here's a link to the pdf of the changes to the Acceptable Use Policy: https://www.paypalobjects.com/marketing/ua/pdf/US/en/acceptableuse-full-110322.pdf
And here are the screenshots of the acceptable use policy:
Among the prohibited activities includes activities that promote \"misinformation\".
Submitted October 07, 2022 at 10:27PM by wee_d https://www.reddit.com/r/CryptoCurrency/comments/xyi7cm/paypal_is_about_to_start_deducting_2500_for/?utm_source=ifttt https://ift.tt/NODV4R8
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