Paypal has been around for some time and I don't think there will be anything to stop it right now. Bitcoin just started a few years ago and still has milestones to achieve. The two are completely different in nature although both involve funds transfer. If you asked me which is more safe, I would prefer bitcoin because I have had a rough time with Paypal for the past one year. I have over $1,000 stuck in my Paypal account because of limitation. I am not able to withdraw despite paypal saying that I now have the ability to withdraw. It is hell dealing with paypal.
The main benefit of PayPal is that it is often only in the presence of account, ie, your personal PayPal account, you can buy goods in a particular online store. Otherwise, nothing happens. There are certainly problems with bitcoin. But every digital currency has some features of calculations.
Actually substantial or real lucrative offers in the material plane as I intend to use the PayPal wallet special there, except that PayPal sends to registered users of coupons for discounts at certain stores or Ebay site. This is perhaps the only difference from the bitcoin.