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Author Topic: [2016-8-28]PayPal Competes With Bitcoin For Marketshare Among Indian Freelancers  (Read 375 times)
trinaldao
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August 28, 2016, 01:32:15 PM
 #1

Speaking of the latter company, they recently launched a new peer-to-peer payment initiative. PayPal.me, as this service is called, seems to be gaining traction in India as of late. Instead of remembering complicated payee details, employers can make a payment through a convenient web URL. On paper, it makes a lot of sense for freelancers to use this payment option as well.

One thing the PayPal.me service does not address are the higher transaction fees. Bitcoin remains a lot cheaper in this regard, and will continue to do so for quite some time. At the same time, PayPal is a more widely-recognized brand compared to cryptocurrency. This creates an interesting scenario for freelancers who want to get the most bang for their buck.

http://www.newsbtc.com/2016/08/28/paypal-competes-bitcoin-marketshare-among-indian-freelancers/

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Transactions can optionally carry transaction fees. Whoever mines the block which ends up containing your transaction will get the fee. The Bitcoin client will sometimes force you to pay a fee when it thinks that no miner will accept your transaction otherwise.
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BellaBitBit
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August 28, 2016, 02:28:10 PM
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Of course their fees will be higher, hopefully this does not distract this demographic from Bitcoin. 

I love Bitcoin
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August 28, 2016, 06:41:30 PM
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It's not only one thing that PayPal is lacking compared to Bitcoin. Higher fees is one thing, the fact that it is still a third party controlling every aspect from transactions to your balance, etc. Don't forget that PayPal is good in putting your balance on hold if they suspect "illegal" activity or anything else that goes against their policy.

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August 28, 2016, 10:36:34 PM
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It's not only one thing that PayPal is lacking compared to Bitcoin. Higher fees is one thing, the fact that it is still a third party controlling every aspect from transactions to your balance, etc. Don't forget that PayPal is good in putting your balance on hold if they suspect "illegal" activity or anything else that goes against their policy.

If you do follow their ToS, you shouldn't have problems anyways. Most people complaining about their funds being seized are under-aged whose earnings are definitely suspicious. If you get your funds seized being legal, I doubt they won't help you recovering access to PayPal.
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August 28, 2016, 11:07:48 PM
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It's not only one thing that PayPal is lacking compared to Bitcoin. Higher fees is one thing, the fact that it is still a third party controlling every aspect from transactions to your balance, etc. Don't forget that PayPal is good in putting your balance on hold if they suspect "illegal" activity or anything else that goes against their policy.

If you do follow their ToS, you shouldn't have problems anyways. Most people complaining about their funds being seized are under-aged whose earnings are definitely suspicious. If you get your funds seized being legal, I doubt they won't help you recovering access to PayPal.

In most cases they indeed sort it out, but the annoying part is that it takes so long for them to release the balance that was put on hold. I know some one personally that has gone through such situation. The person in question was selling used stuff as a business in our local market place and got his account blocked because of "suspicious transactions". After a month or so the account was unblocked without any apologies or explanation. That's not what I consider to be business friendly.

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August 29, 2016, 08:35:34 AM
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The fact that PayPal does not operate in certain countries makes it a less-than-ideal option. Bitcoins is worldwide, people will get used to it with time as they got used to PayPal.
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