inget
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December 02, 2015, 12:57:45 AM |
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I see that most people are scammed in paypal deals but also in bitcoin but less. I consider bitcoin better than paypal in some cases and paypal better in some other cases(for fast deal and buyer protection)
paypal is good with refund system for buyer protection, but this system is bad for seller sometimes buyer receive his digital good and try to refund his paypal transaction Yes but the same thing applies for bitcoin right. The seller can scam leaving the buyer without any form of protection.. |
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newcoins1978
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December 02, 2015, 01:30:22 AM |
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Bitcoin from the whitepaper is much safer, however in practical use people mess up. There's no need to blame bitcoin if you just send some money/coins to someone without having proof etc.
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Light
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December 02, 2015, 05:02:50 AM |
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People on this forum will pretty much hammer PayPal all day and promote Bitcoin until they believe it's a deity. The reality is that PayPal and Bitcoin are useful in differing scenarios (ie. if you want difficult to trace transactions Bitcoin is clearly better). However, at the current time (if I had to choose one), PayPal would be a better choice simply because it has more merchant adoption - I've rarely seen a website that doesn't offer PayPal as a payment method - where the converse is true for Bitcoin. While Bitcoin may be a better option in future - currently IMO PayPal is the better of the two for overall purchases.
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ngocdhbk2
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December 02, 2015, 05:41:27 AM |
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I like paypal for it's currency conversion, it's no fee's for transfers to family and friends world wide, the buyer and seller protections it offers and no waiting for a block to validate. Crypto can't compete with that
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XinXan
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December 02, 2015, 01:19:41 PM |
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Centralized Vs. Decentralized
Any Paypal user, whether a buyer or a seller, will at some point run into issues with Paypal's centralized structure. For instance, I am on my second Paypal account currently after my first account was frozen, and all attached cards and banks were banned from future Paypal use. I had to create an entirely new bank account just to use Paypal due to arbitrary freezing of my first account. Bitcoin, on the other hand, is decentralized and I am completely certain that nobody has the ability to limit my access to my Bitcoin wallet, or to move funds from my Bitcoin wallet. Your $ in Paypal is just information stored and guaranteed by Paypal; likewise, your BTC in Bitcoin is just information stored and guaranteed by the Bitcoin protocol. The difference is that Paypal can rewrite your balance at any time, and it usually isn't $92 Quadrillion in your favor. Paypal is a centralized way to move money and the benefits of that are numerous: buyer and seller protection, chargebacks, etc. However, the abuse of centralized systems such as Paypal, Visa, and Mastercard has caused the average merchant to tack on ~10% premium on their prices to deal with associated transaction fees, and exponentially increased risks of fraud. This is the exact reason why most brick and mortar institutions will offer a cash discount, and also a Bitcoin discount should they chose to accept Bitcoin. https://www.cryptocoinsnews.com/bitcoin-vs-paypal/ May I ask why your account was frozen? There has to be a reason, people always say you are going to get your account frozen but you obviously have to do something bad for that to happen |
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morantis
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December 02, 2015, 01:21:09 PM |
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Well, Paypal has already started the integration of Bitcoin, so the question is really moot.
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kyrios_
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December 02, 2015, 02:48:22 PM |
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Well, Paypal has already started the integration of Bitcoin, so the question is really moot.
When? |
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Amph
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December 02, 2015, 02:48:55 PM |
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Well, Paypal has already started the integration of Bitcoin, so the question is really moot.
it was never confirmed, they said they had problem with security and delayed it in the end, so no they didn't accepted bitcoin |
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Slark
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December 02, 2015, 02:53:52 PM |
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I like paypal for it's currency conversion, it's no fee's for transfers to family and friends world wide, the buyer and seller protections it offers and no waiting for a block to validate. Crypto can't compete with that
With direct bitcoin acceptance there won't be need for any currency conversion, as bitcoin will be used as it is, everywhere. Bitcoin has no charge back functionality and that is either good or bad, it depends. I agree, however, that confirmation times can be sometimes annoyingly long. And as for now it cannot be lowered. |
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Yakamoto
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December 02, 2015, 05:15:24 PM |
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I like paypal for it's currency conversion, it's no fee's for transfers to family and friends world wide, the buyer and seller protections it offers and no waiting for a block to validate. Crypto can't compete with that
I can't argue with PayPal having better currency conversion services right now, however as mentioned by Slark there would be no need for currencies to be converted. From what I've seen, large online wallets don't charge any fees for any sort of transfer,or at least they're incredibly mitigated and don't take more than $0.05 as part of the fee. I can't argue with the buyer/seller protection it offers, however Bitcoin does force people to look more critically at what they are buying, which will hopefully prevent them from being scammed. Bitcoin also does offer some protection against charge-back scammers, however I am not sure how much of an issue they are in the real world. And waiting for a block to validate, that only takes 5-10 minutes for most sites if I am correct. Why would there be a rush that would require the money to be spent so soon? |
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morantis
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December 02, 2015, 05:17:04 PM |
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Well, Paypal has already started the integration of Bitcoin, so the question is really moot.
When? It is technically already done...they are using a third party to handle the Bitcoins. |
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mickiya
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December 02, 2015, 06:02:51 PM |
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The only difference is that BTC is regarded much safer and faster than PayPal.
Paypal payment is almost instant. Bitcoin transaction takes several hours, depending on the fee you pay and how many transactions are ahead of yours. |
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Yakamoto
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December 02, 2015, 06:06:55 PM |
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Well, Paypal has already started the integration of Bitcoin, so the question is really moot.
When? It is technically already done...they are using a third party to handle the Bitcoins. Which third party then? I have a feeling that this would have been a bit more publicized on the forum if this was a thing, but that is a broad statement and isn't giving any specific names or sources. PayPal/Bitcoin integration would be a huge thing, even if it is just a third party system. |
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richardsNY
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December 02, 2015, 06:19:11 PM |
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The only difference is that BTC is regarded much safer and faster than PayPal.
Paypal payment is almost instant. Bitcoin transaction takes several hours, depending on the fee you pay and how many transactions are ahead of yours. Bitcoin doesn't take several hours. Mostly you get at least 1 confirmation within 30 minutes. I have once seen my deposit on an exchange that requires 3 confirmations to post within 10 minutes. It's all relative. |
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Mickeyb
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December 02, 2015, 06:55:36 PM |
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The only difference is that BTC is regarded much safer and faster than PayPal.
Paypal payment is almost instant. Bitcoin transaction takes several hours, depending on the fee you pay and how many transactions are ahead of yours. Come on man, you know you can try better than that! In 99% cases you will get one confirmation within 15 minutes. I had instances that my Paypal payments were completely lost and stuck for days! And then numerous exchanging of emails with customer support, etc.. No thanks. I prefer to wait 15 minutes or less for 1 confirmation! |
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morantis
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December 02, 2015, 07:01:25 PM |
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Well, Paypal has already started the integration of Bitcoin, so the question is really moot.
When? It is technically already done...they are using a third party to handle the Bitcoins. Which third party then? I have a feeling that this would have been a bit more publicized on the forum if this was a thing, but that is a broad statement and isn't giving any specific names or sources. PayPal/Bitcoin integration would be a huge thing, even if it is just a third party system. It was all over the internet, lol, They use Braintree now, this was like sooooo last month. |
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morantis
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December 02, 2015, 07:05:10 PM |
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And actually, they have owned Braintree for years, although the relationship is not as well know as Ebay and Paypal. The actual big move and it was over a month ago was the integration of Coinbase into Braintree.
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Amph
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December 02, 2015, 07:23:17 PM |
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The only difference is that BTC is regarded much safer and faster than PayPal.
Paypal payment is almost instant. Bitcoin transaction takes several hours, depending on the fee you pay and how many transactions are ahead of yours. use a off-chain service, many accept it or load your coins before using it, like in the case with purse.io problem solved i can't really see this big issue with the slow confirmation, it can only be true, if you are paying for a coffee in a phisical shop.. |
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Monnt
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December 02, 2015, 09:07:10 PM |
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Paypal and bitcoin are kind of the same thing, except one has chargebacks, one doesnt, one is centralized, the other isnt.
I guess bitcoin, as your money can appreciate in value, but PayPal cash is always the same value in your chosen currency.
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chennan
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December 02, 2015, 09:14:23 PM |
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Paypal, IMO, is terrible when regarding the charges that cost the customer if they agree to pay the fee to the business, or the other way around when the business accepts that it will lose some of that money when accepting over Paypal.
It's not only about the convenience of the transaction times or the charges that bitcoin or paypal issues upon any given transaction... Bitcoin is a revolutionary currency where there is only a fixed amount of coins that will never exceed 21 Million. This is obviously a lot different from fiat, and because Paypal just transfers fiat digitally, makes it a lot different from Paypal.
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