Will Bitcoin overcome Paypal? - page 14.

BitcoinIsTheAnswer

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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

You nailed it abiky, bitcoin already has overcome paypal and also GOLD!

btcprospecter

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★777Coin.com★ Fun BTC Casino!

It would be great to see bitcoin as an alternative to bitcoin but as many people still don't really use bitcoin it could be a while off from being used in this way also the volatility will have an impact on using bitcoin for daily transactions as week to week the price can change dramatically.

xebecstyx

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Quote from: ABCbits on January 10, 2017, 09:47:30 AM

Bitcoin have lots of potential to overcome Paypal in every way expect chargeback, we can expect it will happen when bitcoin developers solved block size problems so bitcoin is ready for more transaction and transaction fees might be reduced.
Also, 3rd party services such as BitPay and Coinbase allow merchants to accept bitcoin easily, don't have to worry about bitcoin volatile price and they can convert it to fiat if they wish

But, i doubt OpenBazaar will be success because it's not user-friendly in this time.

Good point. However, it makes me think that if Bitcoin would be viewed in the same light as paypal. Then things would not be the same as it is now. Bitcoin transactions are generally free, while Paypal, is not. So, if bitcoin would be used in the same way, then there would be an imposition of price to bitcoin transactions that would surely not sit well with some users knowing that it's one characteristic that many people like. Another thing that should improve is how people sees and accepts bitcoin, although it's on a rise, there are still negative ideas about it that kept the interest of many at bay.

bitctrimor1

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“Blockchain Connection Framework”

Quote from: Denker on January 10, 2017, 07:39:09 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

Yes I think this is possible.
But for that to happen we have to get our sh** together!
Meaning that SegWit or some other proposal gets overwhelmingly accepted and finally realized to be able to push more transactions through the system and into the blocks.
Then we will able to overcome PayPal with it's actual $50 billion market cap easily imo.

I agree. Bitcoin has become really big, especially now in the last quarter of the year. However, I think before it can be possible for it to be similar to Paypal, it should first establish itself as a reliable medium of currency and means of payment. For now, although it's price is really picking up, many people still fear that it's volatile character would affect transactions negatively, which somehow makes people doubtful on totally embracing it.

salink

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Maybe because the potential for bitcoin payment is a big advantage for many users but one disadvantage is that the price of bitcoin is constantly fluctuating so people can treat it as a kind of stock to invest. not to trade

simbax

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Quote from: stompix on June 26, 2017, 11:12:36 AM

Quote from: xskl0 on May 27, 2017, 03:32:09 AM

Bitcoin is making Visa/Mastercard obsolete so will kill Paypal too.

Making visa and mastercard obsolete?
Let me give you 5 reasons it is not

SpectroCoin VISA Debit Card
Uquid VISA Debit Card
BitPay VISA Debit Card
Xapo Debit Card (visa)
Coinbase / Shift Card (visa).

Not so much killing there.

Well VISA and Paypal are far faster and cheaper than bitcoin
It would be great if bitcoin would be as easy to use as paypal, but I don't see how

RaymanC.

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Bitcoin is a cryptocurrency, a digital decentralized payment system working without any central repository or single administrator. All transactions in this are through cryptocurrencies and unspent amounts are counted in Satoshis. While paypal is an online payment system to facilitate transactions in US$ only. One must have a credit card to use Paypal, while it’s not applicable in Bitcoin case.
Bitcoin has lower fees than Paypal. Paypal is not available in every country, but Bitcoin is border-agnostic like the Internet.
In my view, Paypal and Bitcoin have no comparison and hence, no question to overcome each other at least in the current scenario.

jilani

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Now Bitcoin is popular digital currency in every sector.I think BTC is better than Paypal and obviously i believe BTC overcome in paypal at this moment i have ever seen.Although Paypal is very important & essential currency for freelancer community.

iyah09

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maybe if that happen that would be very accessible because paypal is many use

bryant.coleman

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Paypal can process tens of thousands of transactions every minute. But Bitcoin is capable of handling only around 200 transactions per minute (even BCH is capable of handling only around 1,500 transactions per minute). Unless Bitcoin is able to handle as many transactions as Paypal, it will be impossible for it to overtake Paypal.

TheGodFather

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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 terms of uers I think hhat paypal has a slight advantage just hecause it is established and has far more renown worldwide. However little by little bitcoin and cryptocurrencies are inching closer and closer and that I think would help it overtake paypal

bitfocus

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Yes, Bitcoin will overcome Paypal and any other financial services soon and It's happening right now

Taskford

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If the fees of bitcoin will become lower than the current range of fee then i believed that bitcoin will completely overcome paypal because there is no sense to see bitcoin that it is going up because the only thing that matters to the user for making payments are being convenient, low fees and also fast transactions.

tamoymie

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"SIMPLE SHOPPING AND SAFE PAY"

i dont think so but its still not impossible. however, as for me they have different uses in community. so, bitcoin might not take paypal's place. but when were talking with value and currency, bitcoin is leading now a day. so, your question or some peoples idea here is not impossible to happen my friend. but who knows what will happened let just enjoy whats bitcoins offers in today industry.

ramsdaj28

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اللعنة

Quote from: lucifochrome on October 08, 2017, 06:58:58 PM

This is possible but we are not going to see it years or maybe 10 years from now. The reason for that is because bitcoin is highly volatile and no one would want to buy or pay for things not on a fixed price. For example if a merchandise cost a dollar then you buy it with bitcoin but then suddenly bitcoin's price dipped so that's okay for the consumer since the price is lower but then for the entrepreneur it is a different story. So because of this they would still use paypal for buying or selling this because now, bitcoin is more of an investment that the pure currency. But once bitcoin stabilize we will see it overtake paypal.

I don't think that the volatility of bitcoin will be a problem in this case. Actually, there's a 50% chance that the bitcoin value will go up and 50% chance that it will go down by the time the seller receives the payment from the buyer. The point here is that, no matter what happens to the value of bitcoin by that time, it is still fair transaction since the probability of losing and the probability of gaining from that are equal (the value goes up, the buyer wins; the price goes down, the seller wins).

Another thing, you can even convert your btc to your local currency before doing the transaction, so there's no problem with that one. It is still a fair game. It is up to the buyer or seller to talk about that.

In my opinion, bitcoin can take over paypal as a payment method. I don't even use paypal since it takes a lot of time to set up an account. And those people who don't have credit card/bank account will be able to do online transactions later with bitcoin, so I think, this will be a great thing to watch out in the coming years.

Pujangga

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I think soon and no more than 5 years from now, the value of transactions and marketcap continue to rise significantly, it makes people more interested to invest and use bitcoin so I'm sure that it does not take more than 5 years to overcome paypal.

cexylikepie

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Quote from: Canoppo99 on November 28, 2017, 11:32:02 PM

Quote from: cold cool on November 28, 2017, 11:15:22 PM

It's not impossible to beat paypal, but it's certainly not the time to see it.

Some countrues has problem with paypal so people of those countries are choose bitcoin as online payment methode, and I am sure that they are not only get the ease of transaction, but also the profita from the increasing price Wink

. Paypal in conventional online payment methode but bitcoin is the modern one.

Bitcoin and Paypal are the payment method can use for our transaction, especially, Paypal provides many function for business. On worldwide. almost the business like to using Paypal for their job than Bitcoin because it is easy to calculate profit/loss and update report.

ken0203

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I am not sure if Bitcoin will overcome Paypal some day. I am sure that cryto coins in common will overcome Paypal. but i don't think it can overcome paypal in the meaning of killing it. because first of all paypal is working with money and you can't kill that and also a big business like paypal is surely watching bitcoin and in case they feel threatened they will simply add bitcoin to their service.

diegodos

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I am sure that Elon Musk will not miss this opportunity. Because the world of cryptocurrency is the future and as far as I know, Musk is very interested in her, and he, in turn, has created not a few giants.

dimastegar

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Small Trader

The answer is probably. Because we do not know what will happen to Bitcoin later. Because paypal also starts from zero, so Bitcoin too. And Bitcoin have a great chance to exceed paypal.

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