Bitcoin Forum

There is no question that bitcoin is evolving and whether it is in the direction that it should be or not that can be subject to some discussions and debates. Soon we may witness bitcoin to be the viable platform leading the way in the global payments industry and possibly diminish the strong leadership of PayPal.

However, this road will not be a walk-in-the-park because for now, is the lack of interest of people who have bitcoin to use their cryptocurrency to pay someone or to pay for products/services. Of course, we know why this is so. The answer is speculation. And speculation is always appealing to our natural greed...that idea that soon bitcoin can go as high as $20,000 so I will do everything possible to hold on to my bitcoin no matter what.

We are all generally greedy and speculative...something that no technology has no cure at all. However, I am still hoping that one day bitcoin will have less volatility and by then can fully play its role as a real currency and hopefully can overtake PayPal...but for now let's just enjoy the roller-coaster ride anyway there is no deadline so why worry or complain.

It will not even take years maybe 4 to 5 years, so many people are now shifting to Bitcoin I am one of them but there are still a lot of company trust Paypal like Fiverr, yes then can overtake Paypal but I doubt if they can make Paypal close, Paypal whether we like it or not is here to stay just like fiat and Cryptocurrency, they can co exist without harming each other

Well Bitcoin and Paypal cannot be compared. You can only compare two similar things while both of them are not at all similar. Bitcoin is a currency in itself while Paypal is nothing but merely a means of transferring fiat over the Globe. Bitcoin has it's own valuation while Paypal doesn't has it's own denomination. Moreover, even if you say that Bitcoin has increased in number of transactions and value of transactions that still doesn't makes sense because Paypal is providing a platform for transaction while BTC are getting transferred themselves. This is why it's pretty difficult to say that we could ever overtake paypal.

During its early days, bitcoin was primed to be the one that overtakes traditional payment processors into the world of e-commerce. Fast forward to where we are right now, I doubt that knowing that the focus of the majority of the people in the bitcoin ecosystem is on bitcoin's speculative wonders and not its function as a currency. We never have progressed from the days wherein we just compare the amount of transactions that bitcoin and Paypal can handle in a day, and sure SegWit deployment might have helped us move but we only moved an inch from where we were before it. 10 years is an awful long time, but isn't enough to place us on the ranks of competitive payment processors with the likes of Paypal.

I think PayPal is mostly used in USA though. However online fiat payment processors like PayPal will soon be outdated and therefore a thing of the past. Cryptocurrencies are the next step for sure. Maybe I sound too confident but when I have made my due diligence and this is my personal belief. A lot can happen in 10 years though. At the current growth rate and adoption of Bitcoin I see it becoming a world recognised mainstream currency and countries will start or have already started preparing national reserves denominated in BTC.

This is a very optimist look Bitcoin obviously, but for some reason I'm kind of confident in it.

PayPal is a very strong payment system and it is used all around the world. But we are talking about the possibility in 10 years from now. Bitcoin is developing very fast. It has come to this level just in 10 years. I think Bitcoin can come to the same level to PayPal and even can overtake it.

Paypal would be smart if it became its own bitcoin payment processor, ie. another Bitpay. In an ideal world, were merchants take bitcoin directly, the likes of Paypal are redundant. Of course, credit/debit card for online purchases become redundant as well, bitcoin can already fill that role perfectly and cheaply.

You shouldn't expect bitcoin price to rise up significantly anymore, the more time passes, the less it will go up. Waiting for such huge jumps might be a thing of the past.

You know what was big? Going from 400 to 2000 (5x) May 2016 to May 2017. 10k to 20k? That's like going from 400 to 800 (2x). See what i mean? Yes, bitcoin price will keep climbing, but not as dramatic as before, so stop getting in expecting to become rich overnight. Get in, knowing that you will preserve value overtime, as opposed to lose it overtime if you keep it in fiat.

So today is 8k if it "doubles", that would be 16k. It is "nice", but not as outstanding as 2016/17, or the years before.

Now, this is some realistic goal I think. It will not take a long time for bitcoin to reach this goal for sure I think bitcoin is really close on passing paypal right now if just more adoption and support will happen surely bitcoin will gain more trust and users compared to PayPal.

Speculation can only end with stable price. If the volatility remains same, there will be no end to this speculation game and bitcoin will eventually remain as an investment only!

The second bottleneck is the adoption. Today in majority of the countries, we can't really use bitcoin to buy anything! So there's no way for a bitcoin holder to use his bitcoin rather than investment.

The way human nature is involved in this entire speculation game, similar way the lack of adoption is also contributing to this same cause! Overtaking paypal is a matter of few days if bitcoin gets fully legal status in all countries. Paypal is not even a worthy competitor if the level playing ground is provided!

It's not even about volatility or ease of use, the main barriers of entry are on/off ramps for fiat, mining is off-limits to average people because of how competitive the space has become, so the only way for them to acquire bitcoins is by bank transfers or debit/credit card payments. Since banks and other legacy financial companies for various both legal and political reasons aren't fans of cryptocurrencies, they make it difficult to buy and sell bitcoins for fiat money. The alternative is transacting in-person by most people don't want to do that - and the biggest player (LBC) has made it more difficult recently.

sounds logical, but you've forgotten that the banking industry is a pretty thuggish closed shop behind the scenes. Bitpay are probably only continuing to exist because they're helping to attack the Bitcoin ecosystem, and there is an absence of almost any competition as a result of the licensing authorities' supplication to the will of the industry (banking is one of those industries where the regulators have been in the industry's pocket for the longest)



this is not true!

think about it: if you spend say 65% of your salary on living, and save another 35% in BTC, there's nothing stopping you buying more BTC then spending it immediately on your regular living expenses.

Sure, BTC may drop, you lose a little on exchange fees. But, BTC may gain, and you won't be able to pay all your living expenses in BTC anyway. And your BTC savings are also gaining to offset on any small monthly losses.

And if BTC circulates more, everyone likes it, as everyone gets more opportunity to profit from BTC when it goes up :)

Paying in bitcoin is easier than PayPal. PayPal has a strong foundation. Those PayPal fans will need a long time to come to Bitcoin from PayPal. When everyone learns about the benefits of Bitcoin, everyone will move to Bitcoin.

I think that it is hard for Bitcoin to overtake and replace PayPal 10 years from now. I know that Bitcoin has made a good job until now in 10 years. But Bitcoin has a long way to go to succeed on that I think.

PayPal might be aware of it that there are too many services offering PayPal payments for buying bitcoin. And this can be a good market for them to take over since they're already known. They could have added an integrated service that allows their users to buy bitcoin directly to them.

Exactly as this.

PayPal is a payment system while Bitcoin is a currency. You might ask could Bitpay overtake PayPal.

the answer's "no"

BTCPay could though, as that payment system can tap enough transaction capacity.

Nope, this is not going to happen.
First of all PayPal is payment service and Bitcoin is a currency. So these are not the same thing. It's like you said that Euro or US dollar will replace internet banking.
But Bitcoin and other cryptocurrencies could be introduced as a payment method within PayPal or other payment services and platforms.

Perhaps that's the slightly more incisive question, although I believe the two have actually had a partnership for years. Bitpay overtaking PayPal would really be dependent on crypto overtaking fiat, so that returns us to the crypto/fiat debate.

Don't think Bitcoin as a crypto-currency would be able to take over PayPal's system, it'll need something like bitpay to work with the coin and then they'd have a shot.

Give the people a big payment processor that is basically a PayPal that accepts BTC and things get very interesting, if PayPal was smart enough they should be working on something of their own - I can't see them just not worrying about crypto-currencies dominating the market.

I don't know what are we achieving though? I guess bitcoin shouldn't be compare to any fiat payment systems out there. It is one of a kind that's why I don't understand when people saying that bitcoin is this or bitcoin will overtake that, etc. etc.

Let's say bitcoin maintained it's position as the dominant coin and see how it goes for being used as payment system in the next ten years. And for the sake of argument, it did overtake Paypal then good, then what?

Paypal and Bitcoin are two separate entities which are VERY distinct on their nature.

While Bitcoin is a cryptocurrency which has a value on the market, a limited supply, and an alternative means of paying, Paypal is a platform that deals with a website as an exchange. They are very distinct which cannot be compared to each other due to their difference in nature. Although the ends may be the same, the means are very different.

Assuming THAT bitcoin and paypal were to be categorized at equal footing (for the sake of the argument), bitcoin cannot replace paypal in the near future due to the latter being centralized and controlled by a company which renders it secured and trusted among users. On the other hand, bitcoin is a relatively new concept in which some countries prohibit the utilization of such.

How come that bitcoin can beat paypal? In terms of transaction speed paypal beats bitcoin the only thing bitcoin have that paypal doesn't is decentralized system and cheap transaction fees. Bitcoin is far behind in paypal and i dont think that paypal will beat by bitcoinl

Bitcoin is both a (crypto)currency, and a payment system/network. It isn't overtaking Paypal in real world use anytime soon.

Crypto has different use over Paypal, paypal can be use to pay bills, to transfer funds, to use virtual card and to buy prepaid load which is unlikely to compare to crypto that can be use more than that, crypto is an investment and I think bitcoin is better than paypal.
In our country we can also use bitcoin to do the things that paypal does, using an application created in our country, but crypto can do more.

Not in terms of taking over PayPal but if the governments won't act as a hindrance for the coming years to decentralized cryptocurrency and bitcoin, the it's possible to reach paypal's popularity. Although it won't be too easy for bitcoin to achieve that since we all know how popular PayPal is. But I bet during bitcoin's bull run it's population would increase a lot.

Paypal and bitcoin have different goals, you know yourself there are many supporting projects for global transactions. In my opinion paypal is a supporting tool for global transactions (they use usd and euro rates), while bitcoin is the currency itself. Before increasing mass adoption, bitcoin has a fairly low volatility, transactions are highly seeded. Many people consider bitcoin as an asset not as a medium of exchange, so the greedy concept you mentioned appears, it's natural because users also want to profit but on the other hand the initial purpose of bitcoin is to handle the problem transactions and exchanges. Now there are platform technologies that concept on stable coins, coins like usdt can be used as alt payments because the value is guaranteed to be stable.

Crypto can be used the same as paypal, the only differences is there are still limited outlets and establishments that accept cryptocurrency. Maybe in the future crypto will be used by any kind of services and transactions conveniently if it is already accepted by the governent. Another problem is, crypto is not primarily used by investors as a medium of exchange, it is more like an investment tool to let their asset grow, so as of now it is difficult to compare crypto and paypal since they are used differently by most users.

PayPal is the global payment system which is preferred for cross border transactions, while bitcoin supports large volume transactions with ease. There is difference between bitcoin and PayPal. We need to understand it, PayPal is just a payment or transaction processor. Bitcoin serves as a transaction medium and this itself serves as the currency.

So, I don't think it is fair to have a comparison. Earlier Peter Thiel said if he had known about blockchain during the time of PayPal into implementation he would have used the blockchain technology. Maybe in the future we can have bitcoin getting served integrated with PayPal. In simple along with the fiat transactions done through PayPal we might get access to transact bitcoin through PayPal platform.

Agreed! Bitcoin is a currency, yes, but it also processes its very own transactions because it has a network of its own. And so when someone asks whether Bitcoin will probably overtake PayPal, one must not refer to Bitcoin the currency but Bitcoin the network. If one meant Bitcoin the currency, he should have compared it to USD for example and not PayPal in the first place.  

Well, AFAIK Bitcoin block size is limited to 1MB resulting to a rate of 7 TPS. PayPal, on the other hand, has a rate of more than a hundred TPS, processing tens of millions in daily transactions.

strange . you said paypal has more usage than crypto but you still insist that bitcoin is better than paypal ?  in terms of usage , paypal should be better because almost all online and offline merchants can accept it since its linkable with cards   .  in terms of investment , i bet cryptos and btc can win the game but there is an advantage because cryptos and btc can also be use for paying   .

if crypto is legal on your country but crypto often have a problem on legality to some countries but paypal is i think more accepted  . this are one of the advantage of paypal

I do not see any real opportunities for Bitcoin and another decentralized cryptocurrency to somehow reduce price volatility. It is most likely that cryptocurrency volatility will always be inherent in it. In this case, the only way out for her will be to integrate with other types of payment systems, such as PayPal. You can use bank payment cards on which there will be bitcoin and other cryptocurrencies, however, settlements should be made in the national currency at the exchange rate at the time of payment. Perhaps there will be other options for sharing cryptocurrency and regular currency. Cryptocurrency has just begun to develop.

Paypal has been providing good services so I don't think it would be taken over by Bitcoin but there is also traffic sometimes. I guess it will be better if they will adopt Bitcoin as a currency aside from fiat. Instead of having a strong competition, it will be better if Paypal and Bitcoin will merge in the future.

Not now,  but in the future I do believe  bitcoin will surpass paypal. The millenials who are more tech savvy now will propel the bitcoin dominance in the future and by that time baby boomers are  aged already. Peaople are always seeking the cheaper,secure and having control of their transaction, a perfect selling pitch for cryptocurrency. We are talking the future here, and I do believe its rosy for bitcoin and other crypto.

Bitcoin has been overtaking system companies and projects for the past ten years, I'm not surprised if they beat Paypal as the most preferred payment processor because until now there are a lot of companies prefer Paypal than Bitcoin these companies have in their terms a chargeback option and Paypal so far is the one compatible for now, I used the word for now because change can and will happen.

I think Bitcoin can defeat all kinds of payments such as PayPal and others because bitcoin can be used anywhere and the blockchain technology used by bitcoin has a very fast delivery process so that payments will be safer and more comfortable when using bitcoin, from this incident you can see that bitcoin is the eye digital money that has many users.

Yes. But it may take few years before it will happen, crypto is unpredictable for now, yes I believe in Bitcoin because this is the father of crypto now, but in few years we don't know what will happen next, so let's wait for that. Let's see how the BTC market will bring us, if in few years he will still the king of crypto or there is someone better like Eth.

paypal?.. really?(facepalm)
paypal is not a currency. its just a company.. basically a bank brand.
its like saying will bitcoin have issue overtaking UK barclays bank

firstly paypals main niche is to be a bank account linked to ebay usage. to add to this people are already moving away from ebay and thus paypal by using amazon, alibaba, aliexpress, facebook and other product marketplaces.
in short paypal and ebay are already losing grip of their own niche.
(ebay has 170m users. but amazon has 300m.. ebay has already lost its top market place status)

as for the payment transfer side from user to user. just like banks there are many competitors. heck im in the UK and i can pay anyone in the uk for free and within minutes(seconds mostly) just using my bank so i dont need to use paypal just to give someone else ££

bitcoins limitation is not popularity, its not lack of access to get coins. its actually the limitation of number of transactions a day
no promoting more adoption of people to us btc will fix the transaction limitation.. infact with 600k transaction limit. if there are more than 600,000 people wanting to use it daily, realise they cant. those left waiting for a confirm will just think btc is useless for thier purposes and just try something else.

put it this way. if amazon (current leader) decided that tomorrow it would allow only 600k transactions a day. do you think it could service 300m customers. do you think amazon would remain top?

Paypal have existed since the 90's, it was the only existing digital cash aka digicash that have survive while other have gone bankruptcy.  When bitcoin comes in the picture I am sure that the number of clients of paypal have lessened. Bitcoin transactions is much more convenient than paypal and aside from that paypal is very strict and even without clear evidence as long as someone complained your account will be blocked. But even though bitcoin is stronger than paypal, bitcoin cannot destroy paypal and the reason for that is that the company will make sure they will survive in the market and if they will be in the tight spot there is a possibility that they will also create their own cryptocurrency named paypal.

I dont think that this will happen, bitcoin has a high volatility, we can only use it as an investment tool to increase our assets, a store of value. Bitcoin is banned in most country and this is a huge disadvantage unlike paypal, paypal is legally used in any part of the world, and it is being used more than how we used crypto.

It's hard to tell, but in my opinion, PayPal will implement Bitcoin before we even notice. At least, that would be the best option for them I think.

My own consign is that most users of bitcoin now is that they rely with its usage as a store rather than peer to peer transaction of course paypal had been a leading online currency without the feature of store of value thus for bitcoin to take over paypal is when we change our orientation as a hodler to using it as a currency for buying and selling of good and services.

Paypal is a payment processor so if bitcoin has to overtake it i feel it needs to still overcome the below -

- Transaction fee
- Scalability

Even if Paypal implements bitcoin, it will need longer than we can imagine because, until now, Paypal still dominates the market for the payment method besides credit card. But it will help bitcoin to grow fast if Paypal can integrate their system with bitcoin and people who know Paypal will learn about bitcoin and how to convert their balance inside their Paypal account. But for now, I don't think that bitcoin will overtake Paypal since we need to see bitcoin to be approved in many countries.

One thing I don't really like about paypal as my online financial platform is their ability to contact our locals. Since when I need the money, I need to wait for monday in order for it to be delivered. Unlike in bitcoin or cryptocurrency, what you need is 5 mins, everything will be fine. So in terms of global competency of these financial platforms, bitcoin will surely prevail, they just need to lessen their transaction fees and more adoption will takes place.

Sure it's possible. What if in 10 years there's no PayPal and Bitcoin is still there. What if Bitcoin doesn't scale and remains as it is now a niche product used by 1% of the world? Technically Bitcoin will win and overtake it because paypal will be bankrupt :D
I don't like to go so far with speculation but paypal is not a good business. They are ripping people off with fees and their chargeback service is of questionable ethics. It won't be hard for something better to take it out of business.

As long as bitcoin continues to scale then we are in the right direction. But in 10 years maybe some another private company has already beaten Paypal or it could be Paypal already minimizing its fees and will use blockchain technology. The decentralized nature of bitcoin is what keeps it to continue moving forward. More people will realize soon that utilizing bitcoin freedom and privacy.   

Looking at transaction fees, limited transaction throughput is rarely a problem. Access to bitcoins due to restrictions on fiat on-ramps is a very real problem 24/7/365 regardless of market conditions or hype.

Is not always the case that humans are driven by greed. Some people prefer comfort and convenience than thinking of being selfish. Bitcoin's advantages far outweighs that of PayPal since PayPal has a lot of restrictions when it comes to transactions. The convenience of bitcoin as a medium of payment for goods and services always entices people.

the scams related to paypal dispute is just not making them acceptable anymore. even if they integrate btc as long as they allow dispute paypal will to continue lose users because of it. both could however benefit from integrating because we can make business out of it. if say i can exchange my btc to usd within the paypal system, i could probably buy btc from an individuals who needs paypal funds and can also sell BTC.

How difficult it is to make such transactions, it is very not convenient. I have never done so, and I think it's better to go to a bank or cryptocurrency exchange and exchange Bitcoin for cash.

Bitcoin has no ideal to compete with PayPal , they are 2 different payment methods if we can say like this. PayPal is already in a downtrend when it comes to customers so why would Bitcoin want to compete with this ? . Bitcoin is already over PayPal if you want my personal answer as you can send Bitcoin all over the world without being obligate to complete papers and also you can cashout Bitcoin in most of the countries , you just need to find your local exchange. The only thing that is keeping bitcoin down are transaction fees...and I doubt PayPal will list Bitcoin as there is no need in this.

The main problem ever since the 20k mark was hit.
There might be buyers from that price that cannot go out (withdrawal). They want ROI but now is not the time obviously.
What else can you do about it to avoid losses. Simply wait. Why? Will it really happen? Yes. It can go ways too impossible for everyone.
Not all of us have predicted the 20k mark or maybe none really. Just speculation which is not sure.

We became investors in a sudden and forgot to pursue the merchants to open up a store which accepts bitcoin.

Very nice explanation and I don't see any good things to happen on Bitcoin side if ever they overtake Paypal and as far as I know Paypal is accepting Bitcoin as one of it's payment method so there is no point for Bitcoin to overtake this allies  ;D Instead we need more big companies like Paypal that will accept Bitcoin too in order to increase the availability of Bitcoin in different countries.

It is hard to tell that whether paypal will implement bitcoin because if people start using bitcoin then they will loose their business in the long terms as people will start using bitcoin rather than using paypal for transaction as you have the complete control over your transactions rather than trusting a third person and the fees are lower than paypal and for all these facts i do not see them implemeting bitcoin payment.

They are. For years straight their volume in number of transactions and us dollar terms, has seen a net growth. If it wasn't a good company it wouldn't be doing this well for years straight.

I know that people here don't like PayPal and want to see it go bankrupt, but that's a very toxic point of view IMHO. I rather see them do well and further stimulate competition between legacy financial institutions.

At the end of the day, Bitcoin won't be any different if PayPal is doing good or bad---we are building towards a store of value asset rather than a transactional medium of exchange.

everyone has already talked about the difference between paypal and bitcoin, I think it will be very difficult for people to forget hold to use their bitcoins to buy things. Just think that someone new buys 1 btc for the price of $ 8000 and then listen to people like John McAfee saying that Bitcoin will reach $1 million, that person will think of Hold hoping to get rich in a few years. bitcoin is more for investment than currency


well, I have nothing to complain about him

If we could look at above chart on Paypal's payment transaction volume , then we could deduced that if that current rate of Paypal's volume continues its upward trajectory, then Bitcoin might have a hard time overtaking Paypal, not unless its volume will show a declining pattern  over a period of several years which I doubt wouldn't happen. But, I think its still a possibility and that many things could happen within a period of ten years. ;)


Source: https://www.statista.com/statistics/277841/paypals-total-payment-volume/
           https://www.ccn.com/everyones-hodling-only-1-bitcoin-volume-merchants/

Then I guess you haven't paid in a foreign currency. The conversion rates are really bad. If you add paypal fees to it you're really getting much less than you should. If someone from the US sends you 1000 dollars and you have an EUR account you're gonna lose at least $50 on this. If you sent directly to your bank that would be more like $20 and if you used bitcoin it would be $2 + the exchange fees depending on the exchange of your choice.

A lot of things can happen in the next ten years. It is very possible that Bitcoin might overtake paypal in the next ten years but before this can happen, adoption of bitcoin needs to take place first. The adoption of bitcoin by people is the only way that can guarantee the possibilities of bitcoin replacing paypal. Adoption will make bitcoin's ecosystem grow bigger  and also help people to understand how it works and the benefits available when they use bitcoin for their transactions.  

For amounts under ~$3000 Transferwise is going to be cheaper thank directly bank-to-bank. Bitcoin is cheap assuming you won't lose out anything on volatility, and both sides need to have verified accounts on exchange sites. That's a significant barrier of entry, and the exchange can always come up with a BS reason to keep the funds hostage.

You seem to forget something. Paypal is a company, it can close. Bitcoin is not, therefore the answer is obvious: there will come a time when Paypal is no more, but Bitcoin will continue to exist.

I don't know if you would call that overtaking, i guess it is, simply because people will see less and less reason to use Paypal. The original purpose of Paypal is now gone, it fulfilled a niche while there was no electronic money replacement, but now that there is, as they are right now they are redundant. So unless they embrace the new reality, it will simply cease to exist.

Which is why i gave the earlier suggestion. While many money handling institutions are in the same position, Paypal is far more weak than a Bank.

Thankfully Elon sold the thing while it was worth it, at least we got Electric Cars, and private rockets going orbit from it...

I don't think it will take 10 years in order for bitcoin to overtake Paypal. As well know bitcoin is now more popular in many countries all over the world and in that way there a big possibility that bitcoin can attract more investors after 5 years and might be able to overtake Paypal at that time. But this does not make any sense in comparing both of them, because Paypal is a payment processor while bitcoin can be used as a payment. These are having a huge difference and there's no need for comparison. But one thing that I feel for sure, after 10 years bitcoin is too expensive.

I don't understand at all what's your vision around bitcoin OP, do you look it as a currency or as a payment method or both together? Because in reality it's last one.
Personally I can't even compare currency to a paypal despite the fact that it's payment method too at the same time.
It can't overtake paypal at the moment and there are tons of reasons. At first paypal is strongly supported by merchants and Ebay, one of the major online marketplace, it's also great option for more likely buyers and you know, you run business to meet the demand of customers, otherwise you can't succeed, paypal is great option for businesses to attract new customers because it's most acceptable payment method for various reasons (money refund availability which protects from scams).
Bitcoin isn't as famous as paypal, nor it offers same abilities as paypal. What if paypal decide to integrate bitcoin payments? I think then double win will be for paypal there because it will work better with combination of paypal rather than separately for marketplace usage purposes.

We can't compare BITCOIN wit PayPal, it's not the same thing! BITCOIN is a cryptocurrency while PayPal is an financial intermediary where we can transfer our money and make transactions. We can maybe compare PayPal with blockchain but not now, we talk about 5-10 years from now when banks adopt blockchain and work with it.

Better use bitcoin as currency payment than use PayPal, PayPal is first currency payment I use for many transaction sell soft ware for my friend with many country in the world, I face many problem with using PayPal because my costumer can complain back their payment sent to me, but with bitcoin as currencies payment they never take back their money because bitcoin not support for using dispute way to get back money.

It's a good point - but your also forgetting one of the most crucial things when it comes to PayPal, and other relics that are almost outdated.

People dislike change. If they've been using PayPal and their family has been using PayPal, they'll use that service and likely never change. Even though they might be distracting to deal with, as long as it does it's job, it's fine for them.

That's the main problem with bitcoin - how are going to get these people to change their habits

That scenario is highly probable, where not only Bitcoins, but also the other Altcoins, must be considered, I believe that the project that makes a well-structured plan for mass use will take that step, because cryptocurrencies are much more practical, they can be use P2P and the costs are lower.

i don't think we can put a date on something like that. because for bitcoin to "overtake" a big payment system like PayPal it has to first become adopted by nearly as many people as that big payment system has and also it has to reach a much more stable price than this so that people would be more willing to spend it rather than invest in it!
and reaching mass adoption and price stability is something we can not predict. it could take a much shorter time or a lot longer time to get there. the only thing i can say with certainty is that the adoption will continue to grow for many years which means every day bitcoin will be used more for payments.

I completely agree with the statement of bitcoin overtaking paypal, the reality is now many who rival paypal including bitcoin. But bitcoin is much
better than paypal. The problem is that besides functioning as a payment, bitcoin is a digital asset too, which is its value can go up if hold. I guess
it doesn't take 10 years to overtaking paypal, I predict in a period of 3 years bitcoin can overtaking paypal. Especially if it's already legal, this
can make paypal close its business. Because bitcoin is supposed to it is legal because it makes a breakthrough in the field of digital currency, but
indeed some parties still make bitcoin unrecognized. One of the banks and the government is still blocking the pace of bitcoin. But as we know bitcoin
can't be stopped, it's only a matter of time when bitcoin will eventually be recognized by the world.

we all know that paypal is the king of payment as a system of facilitating online transactions while paypal and bitcoin have in common but there are some differences that support bitcoin compared to paypal such as bitcoin transaction fees are cheaper than transaction costs using paypal and for bitcoin profits are not tied to currencies conventional bitcoin is a digital currency for own transactions, so if we look at it now more people use bitcoin compared to paypal.

Still undeniable that Paypal is more trusted than bitcoin, This payment process have already a established end users who believes with it's existence while bitcoin still trying to convince more and more people to consider the use of this alternative currency. It will take time before it will be decided, whether bitcoin will reach the success where Paypal is mostly used. It's only time who can tell if this innovations thru payment process will be adopted by many users around the world.

I have also a great hope that Bitcoin will be one day less volatile and people will use it as the main payment method but this platform should be fixed a lot of barriers, Like other payment methods, Bitcoin also should be stable and it must be in a regulation process, I am sure when people will get a smooth and stability then they will also start using Bitcoin, Nowadays, the price of Bitcoin is going up and down so people don't use Bitcoin because of greediness of money, It's a natural process why you miss the opportunity, So when the price will be stable then people will not hold for gaining profit and in this way Bitcoin will be the vital payment method even better than Paypal.

Its hard to belive so. Paypal is used Worldwide and has huge influence across the globe.

However I believe that in the near future some other company will overtake PayPal, as there are a lot of good payment platforms with smaller fees, better support, etc.

The paypal company has already built a solid foundation to keep it from losing its place. So other companies will find it difficult to get rid of.

I think the price of bitcoin is going to be tough, bitcoin is actually used here in our country as payment for products purchased online but it is also stopped immediately due to incorrect product prices payment received by online sellers.

Yes the transaction fee in crypto currency is much lower compared to money transfer platforms but it's still far away from being equivalent to paypal as paypal is openly operated wherein bitcoin or any other cryptocurrency cannot acquire same status due to certain security aspects as some countries don't accept it and even if they accept the volatility will play a negative factor.

We still have some altcoin who can hit paypal, and may maybe it is already since there is some altcoin who can be able to proccess a transaction that overtake paypal in one second. It is far we pair up with bitcoin, it seems like bitcoin is being designed by most user now just for an asset.

Moreover, there is many speculation against to its price. In the future I'll believe that bitcoin price will hit $1 million so as they just a few people who can use it as payment system such as the using of money fiat now. We will see it later, let we pass the roller coaster and I'm ready to face it.

Without five years after bitcoin open to public many PayPal  costumer have move using bitcoin as currency than PayPal, using PayPal very difficult with trouble by IP address and our account every time limited and have to upload our ID for security, some time we make payment sending as friend and family always limited by PayPal team, so using bitcoin be easy and faster without dispute like PayPal payment.