Topic: Do you think Bitcoin will change, like PayPal did? (Read 390 times)
I believe bitcoin will not change. Peoples are investing in this project because it is stable in the market and its price fluctuation range is not too much high.
i hope this doesn't happen but i think it will:
i think bitcoin will change and we will end up having higher fees because although we are having scaling but it is not going on with the same speed as the adoption at times and we may end up seeing higher fees again even without spam attacks. and some people would think that is ok as they showed last year with saying "bitcoin is not a currency but a store of value" but it simply can not last because we will either scale to match the demand or lose the demand as it goes elsewhere and those "storing their value" would realize their mistake as their "value" drops.
i think bitcoin will change and we will end up having higher fees because although we are having scaling but it is not going on with the same speed as the adoption at times and we may end up seeing higher fees again even without spam attacks. and some people would think that is ok as they showed last year with saying "bitcoin is not a currency but a store of value" but it simply can not last because we will either scale to match the demand or lose the demand as it goes elsewhere and those "storing their value" would realize their mistake as their "value" drops.
No I don't think bitcoin will change and another popular cryptocurrency will come soon...like PayPal. I don't think negative because PayPal and bitcoin two both separate currency.
Bitcoin and PayPal are not same and we can't compare both because bitcoin is decentralized currency and no one controlling it also we are sending bulk payment with minimum transaction fee and PayPal is charging much amount name of transaction fee also they need all kind of KYC for send and receive payments internationally and domestic, in upcoming years bitcoin transaction fee will be low as compare today because of worldwide adaption.
Just reminder that we are supposed to be different than our competitors. Right?
Bitcoin is decentralized and neither paypal nor any other payment systems can be. It is true that bitcoin had reached its limit last year but there are people that are continuously making solutions. Like segwit where fees were almost halve. Satoshi's promise was the white paper and when bitcoin went live on jan 3 2009, he already did his promise. All we need to do is to keep using bitcoin and believe on the core developers that had been working for years.
That's right, it's very phenomenal bitcoin or cryptocurrency in general. Merdeka believes in Satoshi who has never seen his nose, just by making Fomo a price as a free promotion. Many new investors are investing in bitcoin.
For myself, I have been out of bitcoin investment since the highest price at the beginning of the year.
For myself, I have been out of bitcoin investment since the highest price at the beginning of the year.
--==< http://prntscr.com/kfd3d4 >==--
You know, when companies start out, they make these FREE forever promises and then they grow into multinational
companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still
trying to honour that promise or will we turn into another PayPal?
Just reminder that we are supposed to be different than our competitors. Right?
You know, when companies start out, they make these FREE forever promises and then they grow into multinational
companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still
trying to honour that promise or will we turn into another PayPal?
Just reminder that we are supposed to be different than our competitors. Right?
Paypal isn't a competitor, both Bitcoin and Paypal are different. Paypal is a payment processor and Bitcoin a currency hence can't be compared.
As a company Paypal needs to make profits otherwise there is no use to create one. Comparing the fees it's also not much comparable, yes with Paypal you can send and receive money without a fee but it's a minority, the major transactions are done with merchants and a fee is involved so.
Still, if you really want to compare Paypal VS Bitcoin I would say the fees may be cheaper with Bitcoin and another advantage is Bitcoin doesn't forbid some countries or some merchants like Paypal is doing
I don't think so because btc is another thing and it doesn't have any similar features to my mind, i don't see any. I think that btc has great potential and it will be great to use it instead of dollar
--==< http://prntscr.com/kfd3d4 >==--
You know, when companies start out, they make these FREE forever promises and then they grow into multinational
companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still
trying to honour that promise or will we turn into another PayPal?
Just reminder that we are supposed to be different than our competitors. Right?
You know, when companies start out, they make these FREE forever promises and then they grow into multinational
companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still
trying to honour that promise or will we turn into another PayPal?
Just reminder that we are supposed to be different than our competitors. Right?
Yes the comparison of paypal with the bitcoin is really a good example and i believe Bitcoin will also developed soon as same as the paypal did few years back and it will rule the Financial markets all over the world. Right now the transactions fees and charges are been a great headache for everyone who are attached to the Bitcoin and Cryptocurrency and once we overcome from this headache we are sure to see some changes in the bitcoin soon.
All things considered the exchange cost in the bitcoin is low however it is higher in relative term yet it needs to influence it to lower. I think this will occur as the quantity of clients of bitcoin is expanding step by step. So financial specialists should be quiet and give some an opportunity to the bitcoin.
Your advantage for Bitcoin is why nobody on eBay will use it... And eBay is PayPal's primary usage. Nobody really uses PayPal otherwise.
Fun fact Elon musk was an inventor of PayPal.
--==< http://prntscr.com/kfd3d4 >==--
You know, when companies start out, they make these FREE forever promises and then they grow into multinational
companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still
trying to honour that promise or will we turn into another PayPal?
Just reminder that we are supposed to be different than our competitors. Right?
You know, when companies start out, they make these FREE forever promises and then they grow into multinational
companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still
trying to honour that promise or will we turn into another PayPal?
Just reminder that we are supposed to be different than our competitors. Right?
Maybe for some people they see it as a risk to trust or not in this project. But Bitcoin is more than Paypal and any other. It has been a great project, and I know that if it changes, it will be to improve.
Doing transactions via Bitcoin is still waaayyy cheap. If you compare it with PayPal that company pays too expensive.
Advantage of PayPal - cheaper fees for most transactions, no waiting for confirmation, higher adoption.
Advantage of Bitcoin - no chargebacks.
Advantage of Bitcoin - no chargebacks.
If bitcoin becomes like Paypal which has zero percent chance to happen, it will lose all the support it has gotten so far by the community. Currently whatever position bitcoin is in is only because of the huge amount of trust people showed for BTC and it is one of the features of bitcoin that it hasn't changed over the year.
If bitcoin prices were to stabilize the richest people would do the same thing they always do, hold productive assets rather than currency. We could denominate their wealth in bitcoin but they wouldn't need to actually have any in their wallet to do so. Holding a means of exchange isn't advantageous unless you plan to actually make an exchange. Rich folks don't have money, they have appreciating assets.
--==< http://prntscr.com/kfd3d4 >==--
You know, when companies start out, they make these FREE forever promises and then they grow into multinational
companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still
trying to honour that promise or will we turn into another PayPal?
Just reminder that we are supposed to be different than our competitors. Right?
for now i dont think so because too many people didnt know all about this and it is too compilacaated because bitcoin value is flactuating always this is volatility but i think after 50 years maybe? because this cruptocurremcy is a new era . You know, when companies start out, they make these FREE forever promises and then they grow into multinational
companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still
trying to honour that promise or will we turn into another PayPal?
Just reminder that we are supposed to be different than our competitors. Right?
Yes, I think changes are inevitable. Not in the way like PayPal did but with time adjustments will be needed in order to progress further and to preserve position on the market. Nothing can't stay still and frozen in time, development is always needed.
So far Bitcoin doesn't have some serious competition that would endanger it but there is room for improvements that can make Bitcoin even stronger and better.
So far Bitcoin doesn't have some serious competition that would endanger it but there is room for improvements that can make Bitcoin even stronger and better.
There's also the threat of becoming publicly traded as futures. I think this is an outside threat because it allows easier access for major investment funds and institutional traders to interfere as they please.
Internally though Bitcoin can't really change, can it? I mean how would they do it if it's so decentralized? Sure, we can introduce new technologies to keep it competitive and more useful, but in terms of a standardized fee or higher commission? That would just result in another fork.
I don't think bitcoin will never change the way paypal has become change but in order to develop there are always some changes is mandatory.
As the world changes, there may arise some new problems for which we have to update our self or find a solution. It may not change like paypal did but changes has to be done to improve the usability.
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