Why should I use Bitcoin instead of Paypal? - page 2.

beetcoin

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Quote from: AlbertKing on December 13, 2013, 03:18:55 AM

I dont know why you guys hate a third party so much. paypal may make a bad customer experience, however we have a much better third party company called "zhifubao" here in china, everybody loves it, everybody use it. In fact we trust it even more than a bank.

Conceptually bitcoin is good, however it has a long road to go until everybody use it(if it reach that day). We love "zhifubao" in china because if we receive a defected item, we could always refuse to pay the money, it makes the buyers safer(sellers too because if a buyer refuse to pay, he/she has to give the concrete evidence).

And it's quick.

For bitcoin, 5 confirmation? way too long.

And I can't get my coins back if the seller fraud me ? Hell I won't use it at all.

I guess that's why coinbase got its 30million dollars capital. However what makes it better than just a nother third party using bitcoin instead of any other currency? I'd say it's cross border trading, if any.

My 2 cents here.

Quote from: eatrader on December 11, 2013, 07:37:43 AM

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?" This will serve to help the undecided to take the plunge.

So, why should I use Bitcoin instead of Paypal?

well, we hate paypal because they have a reputation of "protecting" buyers by screwing over sellers, and gradually charging exorbitant fees for their services. whatever paypal/ebay do, it is in the interest of swalling anything and everything in its path.. for the sake of dominance.

AlbertKing

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I dont know why you guys hate a third party so much. paypal may make a bad customer experience, however we have a much better third party company called "zhifubao" here in china, everybody loves it, everybody use it. In fact we trust it even more than a bank.

Conceptually bitcoin is good, however it has a long road to go until everybody use it(if it reach that day). We love "zhifubao" in china because if we receive a defected item, we could always refuse to pay the money, it makes the buyers safer(sellers too because if a buyer refuse to pay, he/she has to give the concrete evidence).

And it's quick.

For bitcoin, 5 confirmation? way too long.

And I can't get my coins back if the seller fraud me ? Hell I won't use it at all.

I guess that's why coinbase got its 30million dollars capital. However what makes it better than just a nother third party using bitcoin instead of any other currency? I'd say it's cross border trading, if any.

My 2 cents here.

Quote from: eatrader on December 11, 2013, 07:37:43 AM

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?" This will serve to help the undecided to take the plunge.

So, why should I use Bitcoin instead of Paypal?

Altoidnerd

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http://altoidnerd.com

Quote from: eatrader on December 11, 2013, 07:37:43 AM

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?" This will serve to help the undecided to take the plunge.

So, why should I use Bitcoin instead of Paypal?

Paypal can charge you without your knowledge or permission. Paypal can hold or seize your funds.

When you have bitcoins, only you can use or lose them. It's radically different.

kazzy

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Because paypal's chargeback policy is bullshit. I lost an iPad because of them.

stuffcoins

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Paypal blocks me from purchasing ebay items and having it shipped to friends overseas. Sometimes if the shipping address isnt in the same country as the billing address on Paypal they just say no during checkout.

evoked22

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Quote from: eatrader on December 11, 2013, 07:37:43 AM

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?" This will serve to help the undecided to take the plunge.

So, why should I use Bitcoin instead of Paypal?

I would love to contribute through design. I wanted to make a 10 reasons why bitcoin is winning and paypal is not. Then list the points and put WIN and FAIL for respective oppositions.

Either way, i think its a great idea

jones31

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Quote from: guybrushthreepwood on December 12, 2013, 05:30:33 PM

Quote from: jones31 on December 12, 2013, 05:22:43 PM

Quote from: guybrushthreepwood on December 12, 2013, 05:15:04 PM

Quote from: jones31 on December 12, 2013, 05:08:58 PM

Quote from: guybrushthreepwood on December 12, 2013, 04:57:34 PM

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

Yeah, hundreds of millions is a lot of money to Paypal. And if the value of BTC decreases, you just hold the Bitcoin until it regains value.

Do you think they could just hold millions in BTC and wait for another price rise?
They don't deal with investments , they have a total different plan based on liquidity.

Try to read the interview David gave , and you'll see their concerns . And they have some real arguments why they don't embrace bitcoin yet.
And he isn't a bitcoin hater , he owns a few bitcoins himself.

Stop being a hot blooded zealot and analyze a bit the whole picture for a few..

There are plenty of people, groups and companies holding millions in BTC. I'm well aware of his and others concerns, but Bitcoin isn't going to be in bubbles for its entire existence.

Stop being a closed-minded fool and analyse the bigger picture for a bit.

Name a few of the first part.
Second , you just summarized what I've being trying to say and David's concerns for the time being.
You've basically agreed with me , so why the harsh words at the end ?

guybrushthreepwood

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Quote from: jones31 on December 12, 2013, 05:22:43 PM

Quote from: guybrushthreepwood on December 12, 2013, 05:15:04 PM

Quote from: jones31 on December 12, 2013, 05:08:58 PM

Quote from: guybrushthreepwood on December 12, 2013, 04:57:34 PM

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

Yeah, hundreds of millions is a lot of money to Paypal. And if the value of BTC decreases, you just hold the Bitcoin until it regains value.

Do you think they could just hold millions in BTC and wait for another price rise?
They don't deal with investments , they have a total different plan based on liquidity.

Try to read the interview David gave , and you'll see their concerns . And they have some real arguments why they don't embrace bitcoin yet.
And he isn't a bitcoin hater , he owns a few bitcoins himself.

Stop being a hot blooded zealot and analyze a bit the whole picture for a few..

There are plenty of people, groups and companies holding millions in BTC. I'm well aware of his and others concerns, but Bitcoin isn't going to be in bubbles for its entire existence.

Stop being a closed-minded fool and analyse the bigger picture for a bit.

jones31

newbie

Activity: 28

Merit: 0

Quote from: guybrushthreepwood on December 12, 2013, 05:15:04 PM

Quote from: jones31 on December 12, 2013, 05:08:58 PM

Quote from: guybrushthreepwood on December 12, 2013, 04:57:34 PM

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

Yeah, hundreds of millions is a lot of money to Paypal. And if the value of BTC decreases, you just hold the Bitcoin until it regains value.

Do you think they could just hold millions in BTC and wait for another price rise?
They don't deal with investments , they have a total different plan based on liquidity.

Try to read the interview David gave , and you'll see their concerns . And they have some real arguments why they don't embrace bitcoin yet.
And he isn't a bitcoin hater , he owns a few bitcoins himself.

Stop being a hot blooded zealot and analyze a bit the whole picture for a few..

guybrushthreepwood

legendary

Activity: 1232

Merit: 1195

Quote from: jones31 on December 12, 2013, 05:08:58 PM

Quote from: guybrushthreepwood on December 12, 2013, 04:57:34 PM

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

Yeah, hundreds of millions is a lot of money to Paypal. And if the value of BTC decreases, you just hold the Bitcoin until it regains value.

jones31

newbie

Activity: 28

Merit: 0

Quote from: guybrushthreepwood on December 12, 2013, 04:57:34 PM

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

guybrushthreepwood

legendary

Activity: 1232

Merit: 1195

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

hilariousandco

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Join the world-leading crypto sportsbook NOW!

Quote from: jones31 on December 12, 2013, 04:17:55 PM

Funny how everybody was saying PP is evil , PP is the root of all problems.
Then an interview appeared with David Marcus.
The whole board turned: Paypal is adopting bitcoin! Yeah!!! To the moon!

This is both funny and sad to watch.

As much as I dislike paypal and its polices, if PP accepted Bitcoins it would be great for Bitcoin in general.

jones31

newbie

Activity: 28

Merit: 0

Funny how everybody was saying PP is evil , PP is the root of all problems.
Then an interview appeared with David Marcus.
The whole board turned: Paypal is adopting bitcoin! Yeah!!! To the moon!

This is both funny and sad to watch.

MikeyVeez

full member

Activity: 896

Merit: 102

Quote from: vesperwillow on December 12, 2013, 03:26:22 PM

Quote from: MikeyVeez on December 12, 2013, 03:11:03 PM

Who cares if you send bitcoin. Bitcoin without conversion into fiat is useless, as 99% of things don't accept it. In the future if you can pay for things with bitcoin then it will have an advantage. Until then transfering without conversion is useless.

It's relevent to the OP. PayPal can be used to send money between people. It takes a chunk out of the money when you do so, regardless of if you pull the actual money out physically. Bitcoin can be used to send money between people, with next to no fee, regardless of if you pull the money out.

I dunno bout your exchange experience, but the last time I cashed out several grand of BTC through coinbase, I think the fee was like.. a few bucks. Several grand with paypal would be close to a hundred bucks of fees.

Quote from: TheFootMan on December 12, 2013, 03:16:02 PM

Quote from: eatrader on December 11, 2013, 07:37:43 AM

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?" This will serve to help the undecided to take the plunge.

So, why should I use Bitcoin instead of Paypal?

How much research did you do before you posted this question? If you'd done a day or so of extensive research, it would be pretty clear what the pro's and con's are with both alternatives. In the future, before posting, please do research yourself first, then ask if you have intelligent and informed questions that you couldn't find the answer to by googling.

I wondering what your 'article' is going to look like if this is the level of effort you put into your 'research'.

I'm wagering he wanted real-life personal input/experiences. Better for an article than bullet points.

Ok since you clearly want to argue meritlless points.

1. When you use paypal since you are transfering fiat you can use it for 100% for buying products or services. When you use bitcoin you can do anything with it without exchanging it to fiat.

2. In the US if you exchange Bitcoin to Fiat it is illegal without a Money Service Business license.

3. If you want to use your "money" for anything use paypal, if you want your money to become useless use bitcoin.

Lastly, like the other user said before 5 min of research would of answered your question.

vesperwillow

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Quote from: MikeyVeez on December 12, 2013, 03:11:03 PM

Who cares if you send bitcoin. Bitcoin without conversion into fiat is useless, as 99% of things don't accept it. In the future if you can pay for things with bitcoin then it will have an advantage. Until then transfering without conversion is useless.

It's relevent to the OP. PayPal can be used to send money between people. It takes a chunk out of the money when you do so, regardless of if you pull the actual money out physically. Bitcoin can be used to send money between people, with next to no fee, regardless of if you pull the money out.

I dunno bout your exchange experience, but the last time I cashed out several grand of BTC through coinbase, I think the fee was like.. a few bucks. Several grand with paypal would be close to a hundred bucks of fees.

Quote from: TheFootMan on December 12, 2013, 03:16:02 PM

Quote from: eatrader on December 11, 2013, 07:37:43 AM

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?" This will serve to help the undecided to take the plunge.

So, why should I use Bitcoin instead of Paypal?

How much research did you do before you posted this question? If you'd done a day or so of extensive research, it would be pretty clear what the pro's and con's are with both alternatives. In the future, before posting, please do research yourself first, then ask if you have intelligent and informed questions that you couldn't find the answer to by googling.

I wondering what your 'article' is going to look like if this is the level of effort you put into your 'research'.

I'm wagering he wanted real-life personal input/experiences. Better for an article than bullet points.

TheFootMan

hero member

Activity: 490

Merit: 500

Quote from: eatrader on December 11, 2013, 07:37:43 AM

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?" This will serve to help the undecided to take the plunge.

So, why should I use Bitcoin instead of Paypal?

How much research did you do before you posted this question? If you'd done a day or so of extensive research, it would be pretty clear what the pro's and con's are with both alternatives. In the future, before posting, please do research yourself first, then ask if you have intelligent and informed questions that you couldn't find the answer to by googling.

I wondering what your 'article' is going to look like if this is the level of effort you put into your 'research'.

MikeyVeez

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Quote from: vesperwillow on December 12, 2013, 03:05:35 PM

Quote from: MikeyVeez on December 12, 2013, 02:58:35 PM

Quote from: vesperwillow on December 12, 2013, 02:14:21 PM

Quote from: MikeyVeez on December 12, 2013, 01:25:20 PM

Only reason to use bitcoin is if your a scammer who sell crap or phantom products so there is no way to charge back. Or if you enjoy having the price of your currency fluctaute wildly so you have to become a speculative trader and place your order at the peaks to spend the least amount of btc.

Not to mention fees from different exchanges add up way more than paypal.

The only reason for bitcoin is to scam people? That's insane.

Also, paypal charges you 3% average to receive money/payment. When was the last time you made a $1,000 btc transaction and lost 3%?

What? Buying bitcoins on whatever exchange with whatever funding cost is already 3%+ converting said bitcoin back into fiat and withdrawing is another 3%+

Unless you can pay for all your things in Bitcoin which for 99% of things you cant.

Not talking about buying bitcoin, I'm talking about simply sending or receiving money. If you have a balance on paypal (same as having BTC in an exchange), and you send/recv, there is a 3% minimum loss for at least one of the parties.

If you send BTC, nobody is charged anything close to that.

Who cares if you send bitcoin. Bitcoin without conversion into fiat is useless, as 99% of things don't accept it. In the future if you can pay for things with bitcoin then it will have an advantage. Until then transfering without conversion is useless.

vesperwillow

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Quote from: MikeyVeez on December 12, 2013, 02:58:35 PM

Quote from: vesperwillow on December 12, 2013, 02:14:21 PM

Quote from: MikeyVeez on December 12, 2013, 01:25:20 PM

Only reason to use bitcoin is if your a scammer who sell crap or phantom products so there is no way to charge back. Or if you enjoy having the price of your currency fluctaute wildly so you have to become a speculative trader and place your order at the peaks to spend the least amount of btc.

Not to mention fees from different exchanges add up way more than paypal.

The only reason for bitcoin is to scam people? That's insane.

Also, paypal charges you 3% average to receive money/payment. When was the last time you made a $1,000 btc transaction and lost 3%?

What? Buying bitcoins on whatever exchange with whatever funding cost is already 3%+ converting said bitcoin back into fiat and withdrawing is another 3%+

Unless you can pay for all your things in Bitcoin which for 99% of things you cant.

Not talking about buying bitcoin, I'm talking about simply sending or receiving money. If you have a balance on paypal (same as having BTC in an exchange), and you send/recv, there is a 3% minimum loss for at least one of the parties.

If you send BTC, nobody is charged anything close to that.

Kenshin

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Quote from: eatrader on December 11, 2013, 07:37:43 AM

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?" This will serve to help the undecided to take the plunge.

So, why should I use Bitcoin instead of Paypal?

Because PayPal can freeze your account when ever they feel like, and for what ever reason they feel like. I hope PayPal close down in the future, thanks to Bitcoin.

Topic: Why should I use Bitcoin instead of Paypal? - page 2. (Read 4359 times)