I would say that you are right, but Paypal isn't exactly a digital currency. Paypal helps buyers and sellers keeping their credit card numbers secret. It is of a great help indeed for everyone who doesn't want to disclosure them to unknown people.
It is also a ledger keeping the amount money you have spent or what you would expect to get.
It is a centralized system compared to the majority of cryptos today and of course, it makes big money by depositing them in the bank at high-interest rates
Topic: Paypal is the first digital currency... - page 2. (Read 645 times)
PayPal never was and is not currently a digital currency, but rather a platform and facilitator of fiat transactions; whereas crypto is actual currency. If anything, PayPal is a wallet you can spend and receive from, fiat funded. Saying PayPal is digital currency is like saying Electrum is currency instead of a wallet.
I suppose there is a huge difference between the two PayPal and cryptocurrency at first sight:
- centralized system of PayPal and decentralized system of cryptocurrencies
- blockchain based transactions and balances of wallets are public
- transaction via PayPal can be returned, not like for cryptocurrencies
...
The first and the biggest difference here would be the type of currency. Cryptocurrencies, as the name says, are cryptographic currencies which are encrypted end to end whereas paypal supports digital currencies which are jsut a digital form of fiat currency. So there is a huge difference between the both. - centralized system of PayPal and decentralized system of cryptocurrencies
- blockchain based transactions and balances of wallets are public
- transaction via PayPal can be returned, not like for cryptocurrencies
...
Both use totally different technologies and platforms. Both have different uses and abilities.
I dont Nakamoto was inspired by PayPal but he wanted to change the way banking and financial platforms provide their services. Crypto is always best when compared to paypal or any other digital currency.
I got your point. Blockchain is cryptographic encryption on both end and most of them were decentralized and uses multiple servers for verification
but PayPal and Visa were using single data server that would verify the transactions between wallets.
So, this things and differences are one of the reasons why Mr. Satoshi Nakamoto got an idea that the world couldn't rely on Paypal and Visa credits as the replacement of Fiat but will be another revolution os technology that will transform into Cryptocurrency.
this fact had been mention on The Satoshi Revolution as well.
PayPal is debit account for fiats at the moment and cryptocurrencies are blockchains.
If PayPal decide to have their own coin on blockchain that would be the point of this thread.
If PayPal decide to have their own coin on blockchain that would be the point of this thread.
Heh.. Do you know Ebay decided 'divorse' with PayPal? 
Yes! Becouse PayPal is not so convenient and expensive (about 4% per transaction).
Ebay looked on Amazon and Alipay (they accept more than 200 different payment methods) ......and have already choose Swedish payment system as a main partner.
Yes! Becouse PayPal is not so convenient and expensive (about 4% per transaction).
Ebay looked on Amazon and Alipay (they accept more than 200 different payment methods) ......and have already choose Swedish payment system as a main partner.
I want to hear you guys why PayPal is not a digital currency and maybe Mr. Satoshi Nakamoto saw the benefits of Cryptocurrency after PayPal that's why he came up with the idea and create that simple idea into reality.
Let's talk about it...
Let's talk about it...
PayPal is not a digital currency and never claimed to be one. PayPal is just a wallet that you transfer your money into and then from it.
PayPal is not a digital currency by itself cause it's a payment system. They didn't make a new currency, they just make possible to spend fiat currencies online.
Firstly, i like your thread topic. It will make someone wanna open it to see your reason for calling paypay a cryptocurrency.
I am sure you yourself know that Paypal is not a cryptocurrency. Paypal and bitcoin are two different things entirely. Paypal is a payment gateway and not a digital currency like bitcoin. I guess Mr. Satoshi sees the need to improve on the existing online payment system then and hence the blockchain technology.
I am sure you yourself know that Paypal is not a cryptocurrency. Paypal and bitcoin are two different things entirely. Paypal is a payment gateway and not a digital currency like bitcoin. I guess Mr. Satoshi sees the need to improve on the existing online payment system then and hence the blockchain technology.
Can anyone explain the hate behind paypal? I use it a lot but I'm open to other alternatives, preferably ones with a lower fee percentage.
Cryptocurrency is backed by Blockchain which assure of its timely delivery and correct data storage and recovery. These are the major difference between Bitcoin and paypal.
I suppose there is a huge difference between the two PayPal and cryptocurrency at first sight:
- centralized system of PayPal and decentralized system of cryptocurrencies
- blockchain based transactions and balances of wallets are public
- transaction via PayPal can be returned, not like for cryptocurrencies
...
The first and the biggest difference here would be the type of currency. Cryptocurrencies, as the name says, are cryptographic currencies which are encrypted end to end whereas paypal supports digital currencies which are jsut a digital form of fiat currency. So there is a huge difference between the both. - centralized system of PayPal and decentralized system of cryptocurrencies
- blockchain based transactions and balances of wallets are public
- transaction via PayPal can be returned, not like for cryptocurrencies
...
Both use totally different technologies and platforms. Both have different uses and abilities.
I dont Nakamoto was inspired by PayPal but he wanted to change the way banking and financial platforms provide their services. Crypto is always best when compared to paypal or any other digital currency.
I got your point. Blockchain is cryptographic encryption on both end and most of them were decentralized and uses multiple servers for verification
but PayPal and Visa were using single data server that would verify the transactions between wallets.
So, this things and differences are one of the reasons why Mr. Satoshi Nakamoto got an idea that the world couldn't rely on Paypal and Visa credits as the replacement of Fiat but will be another revolution os technology that will transform into Cryptocurrency.
this fact had been mention on The Satoshi Revolution as well.
As much hate as paypal might get, it's still important very important.
It was important when it was first introduced and revolutionized online bankings. Nowadays, it's still one of the best ways to send money online I think, despite the fees and the shortcomings.
It was important when it was first introduced and revolutionized online bankings. Nowadays, it's still one of the best ways to send money online I think, despite the fees and the shortcomings.
is it true paypal is first digital currencies? I think paypal is only a platfom provider only for those who want to use the services of intermediaries for buying and selling, but paypal pioneered the creation of new tokens such as monetha and utrust recently, it is great for competition and future improvement
It is being said that Mr. Satoshi Nakamoto got ideas from paypal that it could be enhanced and to be called Cryptocurrency because PayPal is just a digital fiat that only spendable only if you put amount before you can use it as payments for products and other services on the internet.
Blockchain just came up with an idea from different existing digital money like PayPal so that's why PayPal isn't away of being the first digital currency in the market today.
I suppose there is a huge difference between PayPal and cryptocurrency at first sight:
- centralized system of PayPal and decentralized system of cryptocurrencies
- blockchain based transactions and balances of wallets are public
- transaction via PayPal can be returned, not like for cryptocurrencies
...
The first and the biggest difference here would be the type of currency. Cryptocurrencies, as the name says, are cryptographic currencies which are encrypted end to end whereas paypal supports digital currencies which are jsut a digital form of fiat currency. So there is a huge difference between the both. - centralized system of PayPal and decentralized system of cryptocurrencies
- blockchain based transactions and balances of wallets are public
- transaction via PayPal can be returned, not like for cryptocurrencies
...
Both use totally different technologies and platforms. Both have different uses and abilities.
I dont Nakamoto was inspired by PayPal but he wanted to change the way banking and financial platforms provide their services. Crypto is always best when compared to paypal or any other digital currency.
is it true paypal is first digital currencies? I think paypal is only a platfom provider only for those who want to use the services of intermediaries for buying and selling, but paypal pioneered the creation of new tokens such as monetha and utrust recently, it is great for competition and future improvement
One is history, the other the future. There are no similarities or any comparison between the two except maybe meeting similar challenges and the effort to overcome them.
like people told you.. paypal is not like a currency its more like a service for currencies
i would like to use coins in paypal
it will happen soon.. if not paypal, so other companies like paypal
i would like to use coins in paypal
it will happen soon.. if not paypal, so other companies like paypal
indeed, paypal is just like a debit account that needs to be filled up by US dollar money before you can use it as payments for products and other services.
PayPal had been around since 2006 but I think Mr. Satoshi Nakamoto had getting this kind of idea and this is one reason also that drives him to make Cryptocurrency because he knew that the world needs cryptocurrency as the replacement of fiat.
like people told you.. paypal is not like a currency its more like a service for currencies
i would like to use coins in paypal
it will happen soon.. if not paypal, so other companies like paypal
i would like to use coins in paypal
it will happen soon.. if not paypal, so other companies like paypal
I hate Paypal very very VERY Much. It's so retarted, even PerfectMoney is better in performance than PP.
I don't like PayPal that much as well. I know that the people here will change their minds if PayPal decided to implement BTC into their payments. 
PayPal is to be moral in something immoral) PayPal works in a regulated environment. If you do not like someone (the powerful of this world), then your money is weeping. Bitcoin passes the banks! Bitcoin is the answer to the financial crisis that undermined confidence in the global financial system. All currencies depend on the dollar, and the exception is bitcoin. The one who controls money controls the world.
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