After researching it , I think the while "buy Bitcoin on PayPal" is a scam at best , and could be something more sinister at worst. Basically , you cannot withdraw the crypto , which for me means that it isn't crypto at all. But after doing research , I found that you cannot EVEN PAY another person with it - you're simply buying a token that is linked to the Bitcoin price - what is the value of this ?
I believe that this could be an attack on Bitcoin - I discuss this in detail here :
https://youtu.be/bApVhoTemGwTo recap :
- You cannot withdraw your Bitcoin
- You cannot Pay anyone ( ironic ) , so it can't even go to another PayPal account
- You dont own the keys
I understand your thoughts about all of these points you mentioned in your post. May be some your statements are a little bit exaggerated, because scam is very specific and with a narrower concept, comparing with the sense that people imagine to themselves. But the sense of that Bitcoin on the PayPal personally I do not see at all. What is the purpose for a person of it when the person can not manage his assets on his or her own view.