Topic: Is Bitcoin less evil than PayPal? - page 4. (Read 5354 times)

Based on your analogies then Bitcoin is more evil. Because Bitcoins transactions is irreversible and your fund is gone forever even if Bitcoin team( If any) investigate and finds out the truth about your situation. But Paypal team if investigate a case and you are right can be refunded.

Yes, definitely. I was using PayPal for sending invoices to my overseas clients and the whole cost of the transaction was very high. As PayPal has serious restrictions in my country, we can not hold even a penny in our PayPal account, and received funds are automatically withdrawn in our bank account and charges/Forex rate and time for the whole process was not acceptable but still, I was using it since there was no alternative option. However, when I asked my clients to pay in Bitcoin, I realized that I was not only saving the money but also I was saving the cost and in fact, I was earning 10% more amount as there is high demand in my country for Bitcoin. I was happy to transfer this benefit to my clients and it was a win-win situation for everyone.

Yes, PayPal is an entity so by its definition is capable of evil.
Bitcoin does not have a head to chop off.

For me its actually the people who take advantage of it are the ones responsible of everything, I wouldn't say that bitcoin is less evil than paypal because it is not them eventually it is how people use it.

if you know all the paypal is bad why you still use it bitcoin is not bad because it's even helpful especially when we invest in it when it increases our money so it's not true that the bitcoin is just saying They are for it to be discredited.

I don't consider Paypal evil from point of view of its usefulness it is all right Bitcoin is just better!

both have their own 'evil' things on their side.
The chargebacks for some people will make them keeping  on safe while doing buy and sell on internet, but some people will use those function on their own to open a dispute while everything were actually fine and seller feel tricked and on disadvantage position.
on the other hand, bitcoin with it's single-way transaction can make the seller feeling safe cause they know after the transaction ends, buyer doesn't have power to refund. But the bad things is, if someone accidentally send to wrong address, there's "almost" nothing he can do except contact the owner of address (if he can found who had the address) and asking them to give it back to him, yet this thing is also impossible especially if you asking them for free.

I definitely believe that Bitcoin is less evil than PayPal.

With PayPal, users are locked into the fiat currency paradigm such as the US dollar, which will continue to lose value over time. But anybody from Argentina will tell you what capital controls can do to an economy and how a lack of viable currency options could hijack the economy leaving citizens scrambling to find any other store of value.

Fortunately, Bitcoin does not care what you think about Bitcoin and does not force anyone to use it. In fact, if you have a Bitcoin bias, every one is free to choose their coin of preference such as Litecoin, Dogecoin, etc. Don't like any digital coin? Then create one yourself - the possibilities are endless.

Why is this important? Well, let’s say you are in Egypt in the midst of a revolution and the government just imposed controls on all capital exchanges so you are stuck with the worthless Egyptian pound because you have no other alternative and, as a result, economic activity comes to a halt in your community.

Bitcoin, on the other hand, is resilient to outside influences, upheavals, recessions etc. And cryptocurrencies in general offer greater variety when it comes to selecting currency that will most benefit you.

So both a repressive regime or PayPal can seize or freeze your account for ‘security purposes’ – this is not the case with Bitcoin as an individual is now able to store and control their own money. Moreover, users also have greater storage options such as a paper wallet or cold storage to limit exposure to centralized risk.

I will not think bitcoin as evil, ever. Paypal is pure evil in some countries and their rules and regulations are just plain harassment. Their service is really low quality and they block people for no reason.

Another thing is that you cant compare a service with a currency.

Blockchain technology stands out for its level of security and verification processes. I think someone needs to be really careless to fall victim to scammers. Dunno much about PayPal but I have never being a victim there.

Yes you got it almost right even i think that PayPal is having risk than compared to the bitcoin because PayPal is an American company holding the funds and executing the transactions and they are controlling it with very high and tighter terms & conditions whereas Bitcoin is my own bank in my pocket where i can manage the funds according to my needs and only i have control over it. PayPal carries a high amount of risk than bitcoins because it is centralized and governs by the centralized body like the American government.

I think the purpose for which Paypal is constituted has valid grounds hence I do not think we should regard it as pure evil. In fact, a lot of businesses or merchandises accept Paypal as compared to Bitcoin. Let us remember that the purpose of Paypal is to have a secure payment system which is still by the way utilizes fiat currency. As for Bitcoin, it was also designed to be an encrypted payment system so as to ensure the security of the transaction including the identity of those who are involved with the transaction. However, in Bitcoin, the payment is in Bitcoin itself and not that of fiat currency. There lies the differences. And judging from that, I guess Bitcoin is more prone to abuse rather than Paypal.

agree with you. In different situations, different options are convenient. Both are good.

Bitcoin allows you to buy anything. Paypal has rules to buy only certain things.
For Bitcoin to work correctly as a means of buying and selling like Paypal.
A third party site to verify your ID to use Bitcoin.
If a buyer wants a refund then the third party site will force the seller to refund. Similar to what Paypal does for trading.
Then Bitcoin can be better than Paypal.

Bitcoin is P2P - so you don't need any Paypal type service which is great. And Paypal is helping me greatly, I don't see Paypal any evil.

I think not. Thank you 

I agree with what you have said, it is how we use our resources. Some use it on doing good deeds and helping people while others use it to their evil plans.

As an added illustration, I will use the knife. A knife is a very useful yet dangerous tool. If the chef uses it on preparing a very delicious food, then he uses it was being used for a good purpose. While the criminal uses the knife to kill people, then it was being used in wrongdoings.

No PayPal or Bitcoin is currently bad. Some people want to find opportunities to steal money and bitcoin and use it properly. Hopefully the same will be the same in the future and new technologies for payment will be brought.

I think you are not weighing all the things that should be weighed. The transaction in Paypal might be quick but scammers are also going to be quick on you. Paypal is more evil than bitcoin because honestly, the number of scammers in Paypal is too much. Even the regular people who just discovered the method of how to surefire get your money back on Paypal by putting a dispute order is now scamming using Paypal. In bitcoin, people might be scamming each other but bitcoin users are actually not regular people who aren't so tech savvy unlike Paypal users who are basically just everyone. Not everyone knows about the scams going on by the abuse of the Paypal dispute feature.

You don't really need the money right away anyway in bitcoin so why would you mind waiting for a little while. It's not like there's nothing left in your account and you have to spend the money right away. What's good about bitcoin is that even though the transaction may take a while, you know for sure that the transaction is indeed going to go through eventually. You don't have to worry about the transaction being stuck forever or having to call support and not having them respond to your issue.