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Eusebio Rufian-Zilbermann

Paypal voucher (crypto)

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Posted (edited)

Not strictly a music deal but potentially pretty useful for your next purchase of plugins, etc.

Paypal is offering a $25 voucher for trying out their crypto purchasing (note: for me it showed up as the banner add after login but I'm not sure if it is country specific or there is some other eligibility requirement).

Here is how it works

(1) Log in at paypal.com and activate the offer

(2) Buy $25 bitcoin (or some of the other cryptocurrencies offered) at paypal.com

(3) use paypal to buy plugins (or something else), get $25 off automatically (it doesn't have to be a single purchase, it can be spread over multiple purchases until you've exhausted the $25, and note that it cannot be used for "family and friends" or "goods and services" transfers, e.g., it will not be useful for typical purchases in the KVR buy&sell forum)

(4) sell the crypto at paypal

After fees you should recover $24+ (assuming you sell soon after the purchase and don't try to keep it and speculate on the price of bitcoin)

Activate by 9/25/2021, buy crypto by 9/30/2021 and redeem by 10/31/2021

Note that depending on your country, crypto transactions may be taxable and you may need to provide your tax info to Paypal before selling. E.g., if you're in the US you will need to provide Social Security Number and capital gains/losses should be accounted for at tax time  (although, for losses of a few pennies due to fees it's probably not worth the hassle of reporting them)

Note also that right now all you can do with crypto at paypal is buy it and sell it. You cannot transfer it or use it to pay someone.

 

EDIT: For clarification (given the many comments below about crypto investing). What I'm suggesting is to buy, use the voucher and sell right away, for a quick $25 voucher grab. The above steps are ABSOLUTELY NOT a recommendation to invest in crypto.

In fact, if you follow the steps indicated you are likely to "lose in your crypto investment": Crypto prices don't normally have significant changes in the few minutes it should take to use the voucher, and selling price should be very close to buying prices, but there will be a small loss from the fees (either direct transaction fees or indirectly in the form of of a bid/ask price spread). The good thing is that you "gain" a $25 voucher in exchange for a loss that should be less than $1. The deal here is that Paypal wants you to know that its possible to invest in crypto through them and they're willing to give you a $25 voucher to give it a try (which can be something quick and with very low risk, per the steps above)

Edited by Eusebio Rufian-Zilbermann
clarification
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29 minutes ago, bdickens said:

Money itself is all fake if you really think about it.

"Except it isn't."

It's an agreed upon perceived concept just like beads, or furs or whatever was way back in the day.

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36 minutes ago, bdickens said:

Money itself is all fake if you really think about it.

True; especially when you consider that there isn't enough gold to actually back the total amount of USD out there.

That said, I prefer my currency to be stable enough such that if I decide to put off buying e.g. the FabFilter Total bundle for one month, I'll still be able to afford it with the same amount in the following month. Of course the flip side is that I might be able to buy the PA perpetual bundle instead.

I also like the fact that if I pay for something that doesn't get delivered, I can start a procedure with the third party that is my bank to get a refund.

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23 minutes ago, antler said:

True; especially when you consider that there isn't enough gold to actually back the total amount of USD out there.

Even the idea that gold itself has any value is nothing but a fiction.

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Posted (edited)
35 minutes ago, bdickens said:

Even the idea that gold itself has any value is nothing but a fiction.

Value is a measurement of something's importance, worth, or usefulness. In some contexts, what you say is true. However, people tend to frown if you give them a tin or plastic piece of jewellery. In a more practical context, gold is a very good conductor, which is why you'll find it on audio connectors and in electronic circuitry (even if only in small amounts).

If you have any gold plated audio connectors or electronic devices (including mobile/cell phones, studio equipment, medical equipment) that you find important or useful, then gold's value is at least a little more than just fiction.

Edited by antler
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"It's nothing but a fiction" doesn't necessarily mean the same thing as "it isn't real."

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Posted (edited)

Currency / Gold / Salt only have value as 'money' as long as 2 or more parties perceive it to have some agreed upon value or worth.
As soon as that perception fails / collapses it's worthless as money.
I doubt if anyone here would accept a bag of salt or confederate bills as payment for their wages yet at one time they were both considered viable.
Gold currently has great value because of limited supply but if a large resource was discovered its value would plummet.

 

Edited by TheSteven
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2 hours ago, Fleer said:

Bretton Woods!

I liked their stuff in the 70's, but their work in the 80's was too commercial for my tastes.

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5 hours ago, TheSteven said:

Currency / Gold / Salt only have value as 'money' as long as 2 or more parties perceive it to have some agreed upon value or worth.
As soon as that perception fails / collapses it's worthless as money.
I doubt if anyone here would accept a bag of salt or confederate bills as payment for their wages yet at one time they were both considered viable.
Gold currently has great value because of limited supply but if a large resource was discovered its value would plummet.

 

I remember this Twilight Zone episode. It is a classic.

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9 hours ago, Bapu said:

It's an agreed upon perceived concept just like beads, or furs or whatever was way back in the day.

Why always point to the "bad" things of the past? There are a lot in this day and age! E.g. music software and plugins that you buy but do not own! 😄

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Bitcoin is old news.

To futureproof your assets. Invest in water. 🧐

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15 hours ago, antler said:

True; especially when you consider that there isn't enough gold to actually back the total amount of USD out there.

Nixon ended the gold backing of the dollar back in the 70's. Now it's just government promises... and printing presses...

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12 hours ago, abacab said:

Nixon ended the gold backing of the dollar back in the 70's. Now it's just government promises... and printing presses...

You can still exchange your dollars for gold if you want to.

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1 hour ago, Starship Krupa said:

You can still exchange your dollars for gold if you want to.

When exchanging use code “group” for discount.  

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On 7/31/2021 at 7:53 PM, TheSteven said:

Gold currently has great value because of limited supply but if a large resource was discovered its value would plummet.

Surprisingly this (very rational!) concept does not seem to apply to fiat currencies.  Central banks have printed trillions of dollars/euro/yen/... over the last decade and no plummeting has occurred.  It defies common sense.  I wonder how much longer this can continue.

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