Topic: Credit/Debit cards can end Paypal. Why not Bitcoin ? (Read 196 times)

Not more than 20,000,000 people worldwide use Bitcoins. How will sellers/shops get buyers ??

In our country I think that Paypal is recognized and more accepted as most and only some are into the credit card scheme but some stores offer Paypal so that you can use your debit card instead which for some people are much more convenient as they would not go down to loans so much. However I still do think that sometimes paypal can be a bit obnoxious and I guess you’re right bitcoin can basically funtion in the same way and we would just have to integrate it into how we pay for services

PayPal has a lot of problems even after being used on almost all online  marketplaces. For instance, if you are selling digital items, any buyer simple chargeback after getting the product. In 905 of such cases, PayPal will give decision in favor of the buyer which means that you will loose the product as well as the money.

Good thing about bitcoins is that there is no chargeback here. If you got a well established business, it is not hard to convince buyers to pay by bitcoins. One thing that PayPal is better than bitcoin is the time taken in money transfer.

Paypal fees 3% to 4% fee.  By the way VISA and Mastercard are highly secured credit and debit cards.

I have written "honest sellers" are best for customers/buyers/business.

credit cards and debit cards can never end papal what PayPal offers is a limited watered down version of bitcoins in terms of anonymity ,it protects the real info of the purchaser that is the cardholders card information, what makes PayPal such a good and well established product is that people obviously value secrecy in terms of transactions, this is also one of the major features that continues to propel bitcoins its decentralized and anonymous nature  , im sure papal will find a way to integrate bitcoins into its ecosystem as the creators of PayPal are obviously forward and creative thinkers.

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PayPal's initial value proposition was allowing users to pay online without the need for a credit card, similar to Bitcoin's banking the unbanked. We all know that PayPal failed in that regard. Whether Bitcoin manages to "bank the unbanked" remains to be seen, but it's definitely a struggle for now.

Where PayPal succeeded however was lowering the entry barrier for merchants to accept payments online. Before PayPal came along it was close to impossible for small shops to accept online payments, so despite all the flak that PayPal gets they played an important role in enabling widespread ecommerce. Hell, before Bitcoin came along it was close to impossible for the average consumer to send and receive money internationally without getting crushed by banking fees. Despite its volatility Bitcoin improved on a lot of the issues that PayPal failed to resolve. In other words, cryptocurrencies stands to lower the entry barrier for ecommerce even further, possibly enabling new business models and especially further enabling international P2P / C2C transactions.

So regardless of their current dominance, looking at the big picture there's a lot of room of improvement over current credit / debit cards and PayPal. Whether Bitcoin and friends manages to sustainably improve on those shortcomings remains to be seen of course, but there's only one way to find out.

Exactly. PayPal was 'supposed' to end credit and debit cards for online payments in a way, but now PayPal and credit l/debit cards work together.
Bitcoin is a indeed a new competitor but the main reason people not using it because of its volatility and it isn't exactly easy to use for a new person.

In the present day is rampant with financial technology. This forced the companies engaged in the field of finance either bank, paypal, or other protocols, inevitably have to follow the development of the era and the development of technology that growing very rapidly. Because if they didn't, they will sink one by one because they are not ready to face rapid technological change.

Yes, bitcoin is the enemy of many banks and many businesses use ponzi mode. Since the appearance of bitcoin, the development of the bank suddenly dropped because not many people use their services. In my country, in two years there were 2 bankruptcies. This shows that bitcoin is dominating the world because of its convenience in trading.

You do know Credit and Debit cards came first and Paypal is the newer entrant?  And they have chargebacks and fees (not so much with Debit cards).

Bitcoin will become another competitor, once its ironed out from usability issues, stabalised in value and widely accepted by vendors.

The money goes directly into the bank account of the store/shop owner when debit/credit cards are used.

The difference of bitcoin and debit and credit card transaction is that, bitcoin transaction can be sent thru regular person as long as they have a Bitcoin Wallet, unlike the debit and credit card that needed a machine in order for you to transact. Like for example, you wanted to buy a in a grocery store. the store needed to buy a swift machine to swift your card. unlike bitcoin that you can easily use thru mobile.

PayPal offers ease of use when transferring your funds as you have to know only an email address of another person and it is somewhat a "standard" as I've cross over many websites that deal only through PayPal. The other thing is that PP is not perfect by being the middleman.

They can ignore credit cards, thing with bitcoin nobody can freeze your account you are able to send money whenever you want to and when you want to. When you look at PP and credit cards what are they doing essentially is moving numbers from accounts to another account and we can even see this as some sort of digital money as it is digital. With bitcoin you get all that digital money but where you are in control and thus you can do whatever the heck you want, if you want to gamble great go gamble no bank or 3rd party can cut your access to the gambling side by freezing your funds in the first place.

Credit and debit cards payments on online and offline stores/shops and pay bills online can end Paypal. That's digital payments/money or cashless society.

If the sellers are honest and they send quality products and services to the buyers/customers and they honestly replace the product or give refund when they send bad products, there is no need for Paypal chargebacks and 4% fee.

How can Bitcoin gamblers ignore the monopoly use of credit and debit cards payments.