Topic: Why should I use Bitcoin instead of Paypal? - page 4. (Read 4359 times)

Headed over to r/Ebay is search for a contrary opinion.  Horror stories everywhere...

http://www.reddit.com/r/Ebay/comments/1sly0u/paypal_is_holding_my_xmas_money_until_the_24th/

http://www.reddit.com/r/Ebay/comments/1sio3h/ebaypaypal_just_ate_my_payment/

http://www.reddit.com/r/Ebay/comments/1s961v/am_i_being_scammed/

http://www.reddit.com/r/Ebay/comments/1rkkif/having_trouble_claiming_money_from_ebay_help/

I can see now why EBay is embracing Bitcoin.  Sellers on EBay and merchants in real world need fast confirmation and clearance of money.  If you want to buy, be willing to pay.  

Bitcoin won't put a 40 day hold on your money
Bitcoin won't limit your account
Bitcoin won't report you to tax officials
Bitcoin won't let people scam you with charge backs

++++++++++++++++++++

Awesome!

Because Paypal and eBay are twats. I think everybody has already mentioned pretty much all the reasons why BTC/cryptos are better.

In your opinion the best escrow service is...?

Yeah and the snooping eye... "I should give you $2.6M of the money that you trust me to hold, for what?  I will have to get a manager to to authorize."  Two days go by and magically that property is sold for $2.8M.  Banks are done.

my friend transferred  about 2.6 million dollars  worth of BTC to singapore for a property deal
for like 60cents and took about an hour to get the 6 confirmations

imagine what that would have costed through regular banking  and how much  longer it would have taken   ?

I only use PayPal if the business I'm involved in has a bunch of PayPal users.

Otherwise BTC is here to replace banks, currency, and extra (extra) medians for exchange such as PayPal.

Why do I read stories about sellers in a bitcoin transaction being at such risk.  Arent some of these transactions using escrow services?

Do you prefer Paypal?

here are some reasons why paypall sucks:
-fees
-third party involved
-people can request the money back
-not anonymous

Without a doubt that is shocking.

You are wrong here, Paypal have this money, as they are part of a transaction. When you send money from Bank to Paypal, they are part of banking transaction between you, so by law they are obligated to have this money. Paypal is also regulated and audited, so at this "ponzi scam" you are just wrong, of course they can fraud all of that money, but risk is rather small (not bigger than fraud in your bank). I can understand that many bitcoiners are haters of Paypal mentality and business, but such interpretation of Paypal operations is just incorrect.

This is interesting.  I have stood that micro transactions are not feasible on Paypal because of minimums. I know u can do "friend" trade but when the world starts using bitcoin to reward for the smallest transactions, Paypal wont be able to compete.

With Bitcoin:

Escrow is optional, and there is competition between escrow services, providing different levels of service.
Currency Exchange is optional, with a choice of exchanges.

If it weren't for ebay, I would not use Paypal.

Freedom, Availability

PayPal doesn't actually have any of the money and becoming a global ponzi scam as more and more people fall victim, but they all say "well eBay.." NO! eBay is shit too they even attacked craigslist for taking away massive amount of business.

PayPal has become evil, literally.  

Wow.  Keep em coming.  Any real world examples are appreciated as well. I just moved to definately writing the article and will update this thread when I do.

To be honest I don't think Bitcoin currently is alternative/replacement for Paypal. Both solutions are about cash, but they are slightly different.

First: Paypal is all about local currencies and e-commerce. In e-commerce area bitcoin is light years behind Paypal.
Please note here that Paypal is a layer on top of standard Banking Systems (Credit/Debit cards, Wire transfers), not a standalone solution. In this case Bitcoin as a protocol is Banking System alternative not Paypal itself. For solution like paypal we will need to wait for something built on top of Bitcoin.

Second: Bitcoin is all about independence and full control. Paypal is all about fast cash flow.

---

We need to remember and take into consideration that currently Bitcoin popularity and value is based on its potential to grow, so "cash/value" in bitcoin circulation is just "investment" of its users. To be honest this "grow potential" is also one of biggest problems of Bitcoin, as it is worthless in context of e-commerce (I assume this would be a major application of bitcoin) as a value tends to change 10 - 30% in one day. So when you are selling shoes for Bitcoin its a bit risky, because tomorrow you can have 30% less "value" in your pocket. Who will take so much risk (SilkRoad clones are excluded) when safer solutions are used (i.e. Paypal)?

You thought you have money on your Paypal account? You don't, all you have is numbers, they can freely decide to freeze your funds, all you can do afterwards is to plead them again and again.

Also, it's important to point out, that Paypal personal account is beyond the reach of citizens of certain developed nations(like Japan) see here: http://en.wikipedia.org/wiki/Paypal#Japan , Paypal division in China is also forced to operate in a separate network, in short, all these services branded collectively as Paypal hardly interact with each other, unlike the seamless payment network that is Bitcoin, the purported global accesibility of Paypal is just an illusion.

Finally, Paypal doesn't even offer an escrowing service! Shocking, isn't it?