Bitcoin+Paypal=death of fiat

[Hamuki]

I got a xapo debit card because i earn Bitcoins for living and it allows me to use my wallet instantly everywhere. It was a big revolution in my life because i am not under any bank bs anymore. The second factor for me is Paypal: i use it with all my international customers and yeah...i put gasoline in my car with Paypal too! Now...now...if only that formerly xapo guy is really in some Paypal button room and is really doing his job....i think if that happens would be a massive run from fiat all over the world...whatcha think?

[--Encrypted--]

I think the governments will never allow that to happen. fiats may decrease in value, but won't die entirely.

[bargainbin]

I got a xapo debit card because i earn Bitcoins for living and it allows me to use my wallet instantly everywhere. It was a big revolution in my life because i am not under any bank bs anymore. The second factor for me is Paypal: i use it with all my international customers and yeah...i put gasoline in my car with Paypal too! < >
...whatcha think?

I think you don't understand what fiat is. PayPal is as much fiat as a credit card, only when you gas up with PayPal (not even gonna ask ), you pay too much because fees.
Also, don't know of any government that takes taxes in BTC. Yeah, you still owe those, regardless of you getting paid in BTC, Beanies, or vestal virgins. I realize you don't give a shit about being a freeloader, but not paying your taxes could also turn into a huge pain in the ass 4u. Initially from a jackboot, eventually from a celly named Bubba. Sans foreplay, sans kiss.

[Hamuki]

I think you don't understand what fiat is. PayPal is as much fiat as a credit card, only when you gas up with PayPal (not even gonna ask ), you pay too much because fees.
Also, don't know of any government that takes taxes in BTC. Yeah, you still owe those, regardless of you getting paid in BTC, Beanies, or vestal virgins. I realize you don't give a shit about being a freeloader, but not paying your taxes could also turn into a huge pain in the ass 4u. Initially from a jackboot, eventually from a celly named Bubba. Sans foreplay, sans kiss.

lol point taken so let me "reword": ...connecting my beanies with fiat world...
Actually my debit card does its jobs for it and i still need to use checks and/or wire transfers for some very legal affairs 
Integrating Paypal with BTC would really make my day!

[Meuh6879]

the problem with debit card ... are the fees at the vendor.
you pay fee, too ... but the vendor pay more more more fees than you !

that's why bitcoin with visa/mastercard is a point of transition ... but it's stupid.
but, between this 2 lines ... it can take 2 generation of human to migrate.

[bargainbin]

I think you don't understand what fiat is. PayPal is as much fiat as a credit card, only when you gas up with PayPal (not even gonna ask ), you pay too much because fees.
Also, don't know of any government that takes taxes in BTC. Yeah, you still owe those, regardless of you getting paid in BTC, Beanies, or vestal virgins. I realize you don't give a shit about being a freeloader, but not paying your taxes could also turn into a huge pain in the ass 4u. Initially from a jackboot, eventually from a celly named Bubba. Sans foreplay, sans kiss.

lol point taken so let me "reword": ...connecting my beanies with fiat world...
Actually my debit card does its jobs for it and i still need to use checks and/or wire transfers for some very legal affairs  
Integrating Paypal with BTC would really make my day!

What would PayPal gain from using BTC? What would PayPal's users gain?

the problem with debit card ... are the fees at the vendor.
you pay fee, too ... but the vendor pay more more more fees than you !
...

Sure. The problem with BTC ... are the fees to the buyer. Not just tx fees, but the time you spend & fees you pay to exchanges when you buy BTC online, or the exorbitant premiums (and time, and embarrassment, and risk of getting robbed & raped) when buying it in person.
And, last but not least, you get a gift-wrapped brick instead of the laptop you paid for? Nothing to be done, SFYL

[Meuh6879]

cheap network.
fast confirmation.
no chargeback.

[Patatas]

Paypal is cancer to bitcoin.I think Bitcoin should completely replace Paypal.Bitcoin itself has the potential to replace fiat ,why need paypal ? You can simply use other debit cards like E-coin to directly use your bitcoins normally for all your regular transactions.Moreover ,paypal is the birth place for scams with bitcoins,reversible transactions.

[European Central Bank]

There's tons of stuff people use cash for that would have you shut down instantly by Xapo or Paypal. I'm not giving any company that chance. Screw that.

[1Referee]

Fiat will continue to exist no matter how popular Bitcoin becomes. I don't understand why people still believe it will happen. Why can't people think in terms of a peaceful collaboration of Bitcoin and fiat. They need each other, where Bitcoin is the one with the bigger need for the other.

[Yakamoto]

I got a xapo debit card because i earn Bitcoins for living and it allows me to use my wallet instantly everywhere. It was a big revolution in my life because i am not under any bank bs anymore. The second factor for me is Paypal: i use it with all my international customers and yeah...i put gasoline in my car with Paypal too! Now...now...if only that formerly xapo guy is really in some Paypal button room and is really doing his job....i think if that happens would be a massive run from fiat all over the world...whatcha think?

I think if there was something like this that had an impact around the world, then there would possibly be more people moving towards Bitcoin, but I doubt it would be a massive change. This is simply because there is a minimal chance that a majority of people would migrate to Bitcoin just because it exists.

While on the topic, though, how do you select which "type" of card you're using at a store? Do you say Visa or Debit?

[Patatas]

Fiat will continue to exist no matter how popular Bitcoin becomes. I don't understand why people still believe it will happen. Why can't people think in terms of a peaceful collaboration of Bitcoin and fiat. They need each other, where Bitcoin is the one with the bigger need for the other.

Why not ? I can list out 100 advantages as compared to fiat when it comes to Bitcoins. Peaceful Collaboration of Bitcoin and Fiat is used for "Money Laundering" in the worst cases.Also there is no point in having a Barter system,you take my coins I will take your fiat stuff.Stability and Standards are very much important if we are seeking to completely replace fiat.I know it will take ages but its not impossible as you've put it.Tell me,what in the world you can't buy with bitcoins today ? Shows enough resemblance of fiat take over.

[Hamuki]

While on the topic, though, how do you select which "type" of card you're using at a store? Do you say Visa or Debit?

it automatically works as Debit asking me to type the PIN

[Yakamoto]

Fiat will continue to exist no matter how popular Bitcoin becomes. I don't understand why people still believe it will happen. Why can't people think in terms of a peaceful collaboration of Bitcoin and fiat. They need each other, where Bitcoin is the one with the bigger need for the other.

Why not ? I can list out 100 advantages as compared to fiat when it comes to Bitcoins. Peaceful Collaboration of Bitcoin and Fiat is used for "Money Laundering" in the worst cases.Also there is no point in having a Barter system,you take my coins I will take your fiat stuff.Stability and Standards are very much important if we are seeking to completely replace fiat.I know it will take ages but its not impossible as you've put it.Tell me,what in the world you can't buy with bitcoins today ? Shows enough resemblance of fiat take over.

Well, no, he has a point.

Even if you can list 1000 reasons as to why Bitcoin is better than fiat, fiat will always exist because people will not just move to bitcoin because it is different. It is also kind of hard to determine what an item should cost, as there would just have to be a "1 mBTC" or other unit tied to it, instead of a simple "$10".

[bargainbin]

cheap network.

The most inefficient & expensive network ever. Costs close to 1 BTC to mine 1BTC (according to satoshi) Imagine if it cost $800 to issue $1000? Yeah, that's BTC.
Also the dirtiest network 'cos mostly mined in China. China gets 77% of its electricity by burning coal. And barely any emission controls

fast confirmation.

Sometimes. Other times you got to wait 72 hrs & try again 3tps don't cover much transactin'

no chargeback.

You do understand that chargeback's a *service*, nothing about fiat that makes irreversable tx impossible. It's just that humans don't steal from each other as much when they know they might get B& & V&. See migh brick argument in above post.

[1Referee]

Fiat will continue to exist no matter how popular Bitcoin becomes. I don't understand why people still believe it will happen. Why can't people think in terms of a peaceful collaboration of Bitcoin and fiat. They need each other, where Bitcoin is the one with the bigger need for the other.

Why not ? I can list out 100 advantages as compared to fiat when it comes to Bitcoins. Peaceful Collaboration of Bitcoin and Fiat is used for "Money Laundering" in the worst cases.Also there is no point in having a Barter system,you take my coins I will take your fiat stuff.Stability and Standards are very much important if we are seeking to completely replace fiat.I know it will take ages but its not impossible as you've put it.Tell me,what in the world you can't buy with bitcoins today ? Shows enough resemblance of fiat take over.

You can buy practically anything with Bitcoin, yes, if you have a certain debit card as xapo. But think about what happens in the back ground with the Bitcoins. They will get converted to fiat as soon as some one makes a purchase. They will get converted to fiat as soon as they withdraw their money via a fiat only ATM. All that is possible because the coins get converted to fiat directly.

[Junko]

Paypal is garbage. They restrict what you can use their service for and those fees suck. And people who abuse the chargeback suck too. Paypal can go fnck themselves.

[Yakamoto]

While on the topic, though, how do you select which "type" of card you're using at a store? Do you say Visa or Debit?

it automatically works as Debit asking me to type the PIN

That's actually quite interesting.

I think I might pick up one of those cards eventually, they seem like a nifty concept and I might actually find a use for it.

[Windpower]

I think the governments will never allow that to happen. fiats may decrease in value, but won't die entirely.

Governments will never allow this to happen. Fiat is what governments run on, without it they are pretty much nothing. Just people with a lot of control over us.

[SFR10]

I think it would be much better if the title was: BTCitcoin + BTCitcoin debit/credit cards = death of fiat. Other monetary systems, somehow still operate on fiat (directly) so can't put in the category as BTCitcoin in which in some ways (only indirectly in most ways) involves fiat. In future, were not going to get rid of fiat (physical cash) but other modern ways will be widely used instead (like in Sweden - cash less country).