Bitcoin is still faster than Paypal. - page 3.

wilwxk

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Quote from: mk4 on June 11, 2017, 08:10:53 PM

No it's not. PayPal transactions are instant. The only delay is caused by the transfer from PayPal to bank, whereas I'm sure PayPal doesn't have control over. Paypal transactions are cheaper too when transferring low amounts.

But there still the problem with authetication of the transation, in the paypal, if you are the seller and the client pay for a product with paypal, 3 days later he can chargeback the transation and you have to take a long war with paypal proofing you have gived the product.

mastadonballs

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I think Bitcoin transaction is between users to users but Bank to Paypal needs confirmation between Bank and Paypal provider so that it may take longer

mk4

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No it's not. PayPal transactions are instant. The only delay is caused by the transfer from PayPal to bank, whereas I'm sure PayPal doesn't have control over. Paypal transactions are cheaper too when transferring low amounts.

nod

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Quote from: mk3000 on June 11, 2017, 07:10:27 PM

I paid a 6$ fee for a transaction today with bitcoin and I still think is much better than paypal. Paypal is just another form of a bank, where you don't have control over your own money. with bitcoin it's yours.

Paypal is slow but they can guarantee that your money does not disappear so that you don't need to worry about lossing your money

TastyChillySauce00

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Quote from: jerowacik on June 11, 2017, 07:33:51 PM

Quote from: mk3000 on June 11, 2017, 07:10:27 PM

I paid a 6$ fee for a transaction today with bitcoin and I still think is much better than paypal. Paypal is just another form of a bank, where you don't have control over your own money. with bitcoin it's yours.

bitcoin consequence today is the higher shipping costs due to frequent delays in delivery when using a small fee. But if compared to paypal then I still choose bitcoin as a multifunctional payment tool.

That's actually because of scaling problem, and every digital currency which uses blockchain will face it eventually when there are too many people making a transaction at the same time, the miners only decide to include transactions which have rather "top" fees and leave the rest. Thus, the average recommendation fee will be increasing significantly. Especially now, when people have no patience of waiting and just throwing their money into the miner's fee. Good for the miner but not for the ordinary user.

BingoDog

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Maybe it's faster when it comes to retreiving the payment but unfortunately bitcoin transactions after some issues with fees and speed have become slower than they should be. Still I think that bitcoins and PayPal can't be compared because they are not the same category.
And fees are in favour of PayPal that is something that should be settled in bitcoin favour.

jerowacik

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Quote from: mk3000 on June 11, 2017, 07:10:27 PM

I paid a 6$ fee for a transaction today with bitcoin and I still think is much better than paypal. Paypal is just another form of a bank, where you don't have control over your own money. with bitcoin it's yours.

bitcoin consequence today is the higher shipping costs due to frequent delays in delivery when using a small fee. But if compared to paypal then I still choose bitcoin as a multifunctional payment tool.

wilwxk

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If I have to pay 10$ in a bitcoin transation or pay the 2$ of the paypal, i will pay the 10, because if i pay in bitcoins i trust the receiver get the money, and with paypal ? i send the transation, and i need to wait to confirm the transation by a third part and i still can have my account closed in any moment without explanation.

Lumada

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Quote from: mk3000 on June 11, 2017, 07:10:27 PM

I paid a 6$ fee for a transaction today with bitcoin and I still think is much better than paypal. Paypal is just another form of a bank, where you don't have control over your own money. with bitcoin it's yours.

bitcoin being our own bank and payment partner will always be the best even theres delay we can still guarantee that the transaction will completed

mk3000

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I paid a 6$ fee for a transaction today with bitcoin and I still think is much better than paypal. Paypal is just another form of a bank, where you don't have control over your own money. with bitcoin it's yours.

magneto

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This is not even taking into account the fact that paypal does 21 day holds all the time, and when a dispute is filed against you your account blaance can actually go into the negatives which is pretty scary just hearing stories of it from other paypal users.

It should be clear to anyone that is currently planning on using paypal/uses paypal already or in the past that bitcoin is vastly superior to paypal, especially if you are a seller. Even though you might be paying higher transaction fees right now you are still buying yourself an independent currency that you can send without additional conversion fees, and you're also using something that is 100% irreversible. As opposed to cough cough paypal.

Quote from: Celsiuss on June 11, 2017, 05:22:35 PM

Wait what. It takes 1 business day because of your bank, not PayPal. Try transferring money from one PayPal account to another. It goes instantly, with no fees. We all know bank transfers are slow and may take 1 or 2 business days because of reasons I don't know.

What about the holds that paypal has, frozen accounts and all that jack? Any explanation for that?

Celsiuss

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Wait what. It takes 1 business day because of your bank, not PayPal. Try transferring money from one PayPal account to another. It goes instantly, with no fees. We all know bank transfers are slow and may take 1 or 2 business days because of reasons I don't know.

SamMurphy

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Bitcoin unionhead who's neglecting fiat :)

I can agree with you, bitcoin is by far faster than paypal because if you send bitcoin to a card in will take max an hour to use them as cash, and paypal will need 1-2 business days. The time of confirmations for the transaction is another issue, and it's happening for the security of the money.

lecongnhan123

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I think the transaction between Blockchain - Blockchain is much more like transaction between Paypal account - Paypal account then Bank - Paypal account?

UCHCHILD

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Really? What happen to you OP? Did you experienced charge back ?
Because I agree with you because bitcoin is really fast than paypal but then you have to pay fee a higher fee for you to get your money fast but in paypal you can have transaction with lower fee but then the challenge there is the chargeback to the sender which is so bad in part of the receiver especially if the account is just holding the money then the chance of getting the money back is high.
We hope this paypal issue will be consider by the management as big bad view in their company. We hope that they can make their action.

btcney

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It's not really a valild comparison because you are comparing withdrawal times with sending time of bitcoin. If you send paypal funds then it is usually instant as well. Bitcoin on the other hand will take you around 10 minutes before the funds "clear" or get a confirmation on the blockchain. It's really not an issue for most bitcoiners though. The biggest difference with paypal and bitcoin is that you can't chargeback with bitcoin. With paypal, charging back is a huge issue. They usually side with the sender as well.

xypos

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Quote from: GeePeeU on June 08, 2017, 08:25:58 AM

Over the duration of the week, I sold something, and initiated the transfer to my bank from paypal.

It said "ETA 1 Business Day"" And here we are on day 3.

So I guess, even with the consistently congested block-chain, Bitcoin beats Paypal all day.

Any TX with a proper fee will be "Fully cleared" within an hour or two.

At least you can view your transactions progress with a block explorer with BTC.

Fuck you paypal gimmie my money.

Paypal withdrawals usually will take a long long time. However right now if you don't pay the correct fee then you are basically risking your transaction not being confirmed for months, so it's basically a tie here. Bitcoin is fast when you pay the right fee but a pain in the ass when you don't.

The thing about paypal isn't even how fast or how slow it is. The main thing that separates bitcoin andp aypal is that with bitcoin, nobody controls your money. You are trusting paypal to take care of your money if you use their service which evidently they do not do very well. They may go bankrupt and you're not covered by deposit insurance as paypal is not a bank.

ppaul15

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nah.. paypal is still faster in terms of transferring funds to another wallet, its instant. If you want to pay to a merchant to buy a product, you can also send instantly. Transferring to a bank is just an option.

Kizaki

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This statement of yours cant force to say that bitcoin tranactions is faster than paypal is,in your situation bamk transaction is included so it will really take time to get finished 2 days is a minimum for any bank transactions

Proximity Scan

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That sounds fair. Even bitcoin's slowest version with busy blockchain network could work faster than paypal.

Topic: Bitcoin is still faster than Paypal. - page 3. (Read 3154 times)