Bitcoin is still faster than Paypal. - page 4.

Winner

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Quote from: ?? on ??

Bitcoin is NOT faster than PayPal right now, not at all. Even ethereum's recent pump seems to me like it is due to its faster confirmations.

Right now people are complaining about the really high fee Bitcoin requires for it receive a fast confirmation. Even with a high fee the transaction might not get confirmed as fast as people think it will since there were times back then when people used a high fee with a Bitcoin transaction and their transaction was stuck for a few hours instead if it being confirmed within the hour.

YoBit stated that they are increasing their withdrawal fee to pay for faster transactions, they are usually fast when the withdrawal request gets approved.

jak3

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i don't think so. bitcoin takes around 2 hours or maybe 1 but there are some situations where paypal can be instant, and bitcoin will go worse during the course of time. its not like we will always play minecraft so its not hard to notice what bitcoin offered some years ago and what it has become right now.

pearlmen

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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.

I will have to disagree with you on that. If PayPal will be delaying your money up to three days, I am sure there will be enough valid rewsonf for that to happen and if it eventually happened I am not sure how posting on the thread will make that any faster rather than contacting support in understanding the reason why such is happening in the first place but same cannot be done in the case of bitcoin even if its to a wrong address.

Flodemaga

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I didnt understand your method, i can sell my bitcoins into 10 minutes and have the money in my bank, doing local trades. Paypal does transfer any balance instant, there isnt confirmation delays, the only risk is the chargeback. Paypal were always the top platafform to any merchant/online costumer, bitcoin is something that still growing slowly over the market.

bouren

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For me paypal is Bank 2.0 by which I meant putting money in paypal is like getting my money more regulated.
Bitcoin is meant for free birds. No one could dare to regulate your bitcoins unless you use represented web wallets.
So btc is better than Paypal in many sense.

MingLee

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Quote from: GeePeeU on June 08, 2017, 10:47:02 AM

Ok yes. In-system transfers with paypal are faster than BTC.

But when it comes to getting funds from BTC, or Paypal, from a sale, into a bank account via ACH, BTC exchanges seem to do it faster.

Well that can just come down to a matter of principle though, Paypal is supposed to be a company that just facilitates transactions among different people and isn't really supposed to interact with banks much unless they're working with a business customer. There is a relatively decent different in how they would handle both account types, and with good reason.

okbit

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Bitcoin should be faster! The tech is certainly faster.

MRlong

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That's right, I use paypal and ussually get 180 days blocked, very hate it if you is a paypal seller as me, I like use Bitcoin because it very fast and not hold or block your money, only need spend a small fee for miner and get confirm fast

GeePeeU

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ASK

Ok yes. In-system transfers with paypal are faster than BTC.

But when it comes to getting funds from BTC, or Paypal, from a sale, into a bank account via ACH, BTC exchanges seem to do it faster.

MiteLit

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PayPal's is instant in a way but the actual confirmation time is 180 Days, The same for BTC as the TX is instant but you need 3 days if you use ridiculously small fees, PayPal and BTC aren't comparable in ease of use at all IMO as PayPal always causes issues, limitations, restriction and huge fees as well (of a % as well as a set fee).

The Sceptical Chymist

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As much as love bitcoin, PayPal is way faster. Those of you who are saying it's not are trying to move the goalposts to win your argument. Paypal gets received and I can spend it immediately. It may take a day to get into my bank account, but that's only if I decide to do that. It's a good thing PayPal isn't DIGITAL GOLD, else we wouldn't need bitcoin at all.

TechnoMusic

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Paypal is the worst wallet which I ever had.They have dumbest support which I saw in some wallets in the history.If you want delete account it is so hard to do with paypal or if you want to change from business to personal account.

nejibens

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Well if you pay enough fee for bitcoin transactions it will be confirmed fastly perhaps faster than Paypal. But if you just choose to pay a customed fee not enough for the transaction, you should most likely wait long time to your transaction to get confirmed .

buenav

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Quote from: franky1 on June 08, 2017, 09:32:46 AM

lol

comparing paypals exit terms to bitcoins internal use is silly.

i can send funds to someone else IN paypal in seconds.
i can send funds to someone else IN bitcoin in 10mins-3days.

i can request a fiat withdrawal from paypal to bank. 3-5 business days
i can request a fiat withdrawal from bitcoin to bank. 3-5 business days

if you are going to do a fair comparison... then make sure the comparison is accurate
Eg dont use internal use vs external use

He also took one specific example of paypal and compared it to the average in bitcoin instead of taking averages against averages.

abel1337

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Quote from: Blamsud on June 08, 2017, 09:55:08 AM

Bitcoin beats paypal in terms of services even it increases in fees since its transaction fees were lower than paypal such its faster and reliable.

I agree with your statement its absolutely true , Users will be deciding on which payment method will they get from these two choices , But for me I am sticking on bitcoin since bitcoin is my most favorite than paypal, In paypal you are ask to surrender your identity by submitting some id's and adding your personal bank account . In bitcoin you dont have to surrender your identity to use the bitcoin.

BitHodler

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False comparison. If you transfer funds from your PayPal balance to another PayPal account, the transaction will show up instantly ~ nothing can beat in-system transfers.

The only negative point in this case is that it will take a huge number of days before PayPal transactions settle in the way that it is impossible for the other party to charge back on you.

Bitcoin in this case has the advantage, because after the first confirmation, the funds are really yours. No one can take them away from you.

Kprawn

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Quote from: elite3000 on June 08, 2017, 09:23:55 AM

Quote from: Emoclaw on June 08, 2017, 09:21:21 AM

No, it's not. PayPal's transactions are faster (and sometimes cheaper) currently. Withdrawal to a bank doesn't count, because they are very unrelated to Bitcoin's transactions.
Also your Bitcoin transaction doesn't have many stages, it's either confirmed or it's not. Similarly with PayPal, your money are sent/deposited or they're not.

The money is not really deposited until the chargeback period is over, I think of 180 days. So in up to 6 months you can wake and your balance disappeared because of chargeback Huh

That, and a centralized entity have a say over your transaction. They decide if they want to process the tx or reverse it. Have you read their ToS?

Centralized payment methods like PayPal and credit cards cannot give you full control over your transactions and your information and consumer

information are their property to do what they want to. { marketing or sharing it with government agencies } Roll Eyes

dissident

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I'll be more excited when bitcoin is running at 20 tx/sec or higher at a fee of 25 cents per transaction or less, with zero unconfirmed transactions in the backlog, with the big mining giants no longer running the show. I know they never will, but they should consider a proof of stake component to the coin with 1 minute block times.

Getting 3 confirmations takes 30+ minutes in many cases. Don't want Ethereum to take the throne? Get it done.

Freezingel

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If you want to compare it, compare the transition speed, not withdrawal to cash because that's depends in the exchange. It took me less than 5 min to send money with paypal, but more than 1 hour with bitcoin.

Blamsud

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Bitcoin beats paypal in terms of services even it increases in fees since its transaction fees were lower than paypal such its faster and reliable.

Topic: Bitcoin is still faster than Paypal. - page 4. (Read 3154 times)