Will Bitcoin overcome Paypal? - page 11.

tauceramica

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Quote from: weblouartisan on January 13, 2018, 11:34:18 AM

Quote from: Abiky on January 10, 2017, 06:55:01 AM

Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years?

We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal.

Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired. Grin

In my own opinion, Bitcoin will never overcome paypal and why? , Because paypal was created for people to get their payment online and it was being used usually by those people who are freelancers and wants to work at home.

Paypal is a centralized company and they work for themselves only. Bitcoin is different, it works in a way for the favor of the community and the users. This is the main difference between them. Bitcoin will be more advantageous over paypal soon.

stainedsoot

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I think that this is possible because I can see a lot more potentials that Bitcoin can do more than Paypal, especially in terms of investing and gaining profit.

cvcptit

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Consider the scale and impact it has on the community. Bitcoin is now a lot of government agreed to use => I predict the future it will be the main trading currency

weblouartisan

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Quote from: Abiky on January 10, 2017, 06:55:01 AM

Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years?

We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal.

Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired. Grin

In my own opinion, Bitcoin will never overcome paypal and why? , Because paypal was created for people to get their payment online and it was being used usually by those people who are freelancers and wants to work at home.

Abiky

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Quote from: fabrizoc on January 03, 2018, 12:50:51 AM

In some countries PayPal is also banned but in those countries bitcoin is open as it new and PayPal is old. I will give more value to bitcoin over PayPal. PayPal is not so good as bitcoin in many ways. Bitcoin have no fees at all. People can freely shopping online through bitcoin as compared to PayPal even in banned countries. Bitcoin is more better than PayPal.

Yeah. Bitcoin is much more accessible than PayPal to people in countries where the latter is banned. The pioneer cryptocurrency gives freedom to all by eliminating the middleman or the need for a third party to gain control and access to your funds. While comparing Bitcoin and PayPal would be like comparing apples and oranges, they can complement each other by providing the convenience and reliability of fiat currency, while maximizing security and complete ownership of users' funds.

Of course, the benefits provided by Bitcoin, surpass those of PayPal, but I believe that it still has a long way to go before it can reach the level of PayPal or even VISA. Fees within the Bitcoin network are constantly increasing, along with slower transaction throughput. Things like these will greatly limit Bitcoin to become used as an alternative payment system, since centralized solutions like PayPal would gain a major advantage.

Nevertheless, only time will tell whenever both Bitcoin and PayPal could co-exist in the future. Just my opinion

fight2018

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I don't think so.

Paypal just a tool base on fait currency. When Bitcoin overcome Paypal, that's means bitcoin overcome fait currency. I dont' believen that will happen due to the interest of goverment.

fabrizoc

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Quote from: jassanpary on December 22, 2017, 07:10:37 AM

Quote from: BlackBird13 on December 19, 2017, 03:49:44 PM

The fees for crypto transactions are significantly decreasing with the time, therefore, it is quite likely that bitcoin would become a more convenient rather than paypal. But it still needs some time.

Paypal is already using all over the world and it has more number of users and paypal is recognized by the governments but still bitcoin is not legal, this could be main reason why bitcoin is still behind paypal, time may come bitcoin to overcome paypal.

In some countries PayPal is also banned but in those countries bitcoin is open as it new and PayPal is old. I will give more value to bitcoin over PayPal. PayPal is not so good as bitcoin in many ways. Bitcoin have no fees at all. People can freely shopping online through bitcoin as compared to PayPal even in banned countries. Bitcoin is more better than PayPal.

trolliban

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Paypal is a payment processor using fiat currency, bitcoin is a currency itself. Paypal can develop bitcoin payments or other cryptos in the future, I dont believe they should see bitcoin as a menace. eventually both will be at the same level and maybe paypal makes the transition to bitcoin if that will bring them more clients

chidrawarster

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Even I would like to put btc as competition to PayPal as the charges will be reduced drastically. This would also increase online buying and selling transactions thereby making complete digital world which is paperless. Still tough competition can be imagine of if btc is regulated over the coming years.

CIiff0rd

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Only difference of paypal and bitcoin is that it is recognized by the government but when it comes to performance most people would prefer bitcoin.

Abiky

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Quote from: jassanpary on December 22, 2017, 07:10:37 AM

Paypal is already using all over the world and it has more number of users and paypal is recognized by the governments but still bitcoin is not legal, this could be main reason why bitcoin is still behind paypal, time may come bitcoin to overcome paypal.

That's certainly true. PayPal is still the most trusted and used payment processor in the world with a wider audience than Bitcoin. Since it has been legalized and regulated, the centralized payment processor has been able to stand the test of time by proving its users reliability over their transactions. On the other hand, Bitcoin is having quite a hard time to manage large transactions per second, limiting its ability to become used in the mainstream world.

However, I believe that as Bitcoin matures, it will become better and stronger than ever capable of rivaling many of the world's payment processors such as Visa, MasterCard and PayPal. When that time comes, people will use cryptocurrencies for their daily transactions without the need to depend on any centralized solution or middlemen. Just my opinion

GideonGono

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Quote from: Abiky on January 10, 2017, 06:55:01 AM

Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years?

We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal.

Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired. Grin

Yes and we now see the big change of bitcoins. I read an article which explains how much bitcoins have passed paypal. Paypal is already 17 years old and its demand is still weak, as bitcoins are 7 years old in the industry and remain firm and the price is increasing. And I saw the Paypal Volume at 7 Billion $ if I was not mistaken while the bitcoins were in the 8 Billion volume,

jassanpary

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Quote from: BlackBird13 on December 19, 2017, 03:49:44 PM

The fees for crypto transactions are significantly decreasing with the time, therefore, it is quite likely that bitcoin would become a more convenient rather than paypal. But it still needs some time.

Paypal is already using all over the world and it has more number of users and paypal is recognized by the governments but still bitcoin is not legal, this could be main reason why bitcoin is still behind paypal, time may come bitcoin to overcome paypal.

haster100

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After Till stated that if he were to implement bitcoin before PayPal, bitlock technology could be implemented with PayPal for efficient functioning. This does not worsen PayPal, but it mentions the value of bitcoins. Therefore, in the future, everyone can be attached and make big changes.

partsofgarble

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Quote from: Abiky on January 10, 2017, 06:55:01 AM

Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years?

We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal.

Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired. Grin

Already voted, I think Paypal is good now because its directly attached to Ebay, and it's a great company for shopping online, in case of scams, instead of bitcoin, because transactoin cant be undone.

HalfDeck

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Quote from: Sheltor on December 19, 2017, 03:47:20 PM

Quote from: Jet Cash on January 10, 2017, 07:38:44 AM

I wish something would "overcome" PayPal. How they can get away with 6 month confirmation times, and call themselves "new Money" is beyond me.

To answer the OP - Will oranges replace sausages? They are totally different things, as are Bitcoin and PayPal.

No one knows what can happen next to the cryptocurrency world especially when it comes to bitcoin, we never predicted that it can be 2900$ per bitcoin as it was only a few cents years earlier.

As for Paypal I don't think it can measure up to bitcoin again with the rate at which people are becoming enlighten and investing in it. Some business now accept Bitcoin for transaction to Paypal

Use Bitcoin for payment as Paypal is stupid with the current transaction fees. I do not want to spend ~ 100 - 200 dollars for my transaction. Beside that, PayPal can provide me more safe in business and tools to calculation my profits/loss easier than use Bitcoin.

ariewashere1

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not all SCAM, you guys just need to examine their github and improvement. to date know. ETCOIN appear promising. due to the group and communityL i

Abiky

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Quote from: hangar18 on September 19, 2017, 11:05:31 AM

But some business like to use PayPal to create transaction than Bitcoin, because they can know onwner amount trading + can dispute if have scammer when create deal. And PayPal also can help you purchase instantly with cheap fees Wink

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That's true. Businesses trust more PayPal as they deal directly with fiat currencies. Since Bitcoin is highly volatile, it makes it very unfriendly and sometimes unprofitable for anyone looking to start their business with it.

One big issue with BTC is the irreversibility of transactions, making it quite difficult to make a dispute, and prevent scams. In this regard, there are escrows available for Bitcoin, but they aren't as efficient as dealing with PayPal directly for a claim.

Therefore, it may take quite some time before Bitcoin can become widely used to the level of PayPal in the mainstream world. Once merchants realize the true benefits of using Bitcoin, they may switch to it, and leave traditional payment processors like PayPal behind. Only time will tell if this becomes a reality or not. Just my opinion

BlackBird13

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The fees for crypto transactions are significantly decreasing with the time, therefore, it is quite likely that bitcoin would become a more convenient rather than paypal. But it still needs some time.

Ponzi Shame

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I don't think it will overcome paypal right now. Maybe in the future it might. The problem with paypal is that it is unsafe for merchants to use, especially if you are selling something digital. Buyers can usually just do charge back leaving sellers without recourse. On bitcoins, it is more seller inclined. As bitcoin transactions cannot be reversed.

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