Will Bitcoin overcome Paypal?

[gribble]

I don't think so, users bitcoin needs Paypal for buy bitcoin and convert fiat currency to digital currency,
bitcoin is long away become currency be used for payment transaction
bitcoin and Paypal will be good become best friends for making transaction. 

I think the future will not be too dependent bitcoin with paypal. users can directly convert bitcoin bitcoin them without the help of paypal. for now I think bitcoin still not overcome paypal yet

Yes users of  bitcoin are not depend on Paypal at least those who doesn't use Paypal,
 but the users of bitcoin who use Paypal they need exchange fiat money in Paypal to bitcoin
or bitcoin to fiat money in Paypal, so there is currency exchange section on bitcointalk
and today there is https://paybis.com/ for exchanging.

[Silberman]

Yes, because bitcoin has a very good features unlike paypal and you can earn money easily in bitcoins and you can send bitcoin easily to other accountd without any fees or if have a fee it just a little amount unlike paypal that have a big transaction fee.

PayPal has built it's reputation already for a lot of years and they are the leading payment method by most of the business. I guess that time is going to be long before seeing that it will lead the payment system. But as of now, I do really prefer that bitcoin won't overcome PayPal as it is still considered as young crypto but it is already good and very promising.

Bitcoins are excellent for investment purpose because its prices are more volatile and as a trader, can make decent profits. But in a payment system, I don't think it can reach anywhere near to Paypal. Because we can't trust anyone online and send payments first and must need to go through escrow and that makes transaction delay and need to pay an extra fee for escrow. But in the case of Paypal, they provide security to buyers, and that's they are so much popular.

Bitcoin as a payment system has left a lot to be desired since the fees keep getting higher and there does not seem to be a solution in sight that could allow us to get cheaper and faster transaction at the moment.

[Abiky]

I was wondering sometimes why some of the community here are always comparing Paypal into bitcoin. Does Paypal can be use for trading?Does Paypal has value increase like Gold? these questioned has been pop up in my mind, there are many things which bitcoin is better than Paypal, like Paypal can't be trade in any exchange, and Paypal has no volatility like what bitcoin has. So stop, comparing or compete it to Paypay because paypal is not like bitcoin.

You do have a point there, mate. With Bitcoin, you can do more than PayPal. As the latter is just a payment processor, Bitcoin is both a currency, and a payment processor. The pioneer cryptocurrency is like a DAC (Decentralized Autonomous Corporation) where you become a shareholder of that company's asset. With Bitcoin, you earn "dividends" by contributing to its network strength with your hashrate.

While both have similarities as payment processors, they are different from one another and can co-exist in the future. I think that sometime, PayPal will adopt Bitcoin within its platform, to give the users the convenience of depositing or withdrawing BTC from their PayPal accounts (not to mention making a bridge between PayPal and Bitcoin for businesses that only accept the former like eBay)

Nevertheless, as Bitcoin's future is uncertain (due to harkfork/scalability concerns), it would be much difficult to consider the pioneer cryptocurrency to compete with traditional payment processors anytime soon. Just sharing my thoughts. 

[btcjoin14]

Bitcoin won't be replaced by PayPal because if the whole banking system goes corrupt or they shut down then PayPal wouldn't have anything to do -they would just shut down as well and most of the money that they have wouldn't have a place that they could send it to so they would just keep it for themselves.

Bitcoin could survive that crisis and the people who have Bitcoin in their wallets could even spend their money in the midsts of the crisis as well.

[1Referee]

PayPal can send payment free of charge, but to a narrow circle of persons.

If you're referring to countries where PayPal isn't allowed to operate from, then you're right, but still, PayPal has over 200 million active users. There is no precise way to figure out how many active users Bitcoin has, but I don't think I am very far off if I say that in best scenario Bitcoin has around 3-4% of PayPal's number, at most. Another thing is that Bitcoin usage tends to increase when the price increases, and get less active when the price decreases or remains stagnant for a certain period of time. PayPal enjoys a constant level of usage. Big difference.

[bryant.coleman]

PayPal can send payment free of charge, but to a narrow circle of persons.

If you're referring to countries where PayPal isn't allowed to operate from, then you're right, but still, PayPal has over 200 million active users. There is no precise way to figure out how many active users Bitcoin has, but I don't think I am very far off if I say that in best scenario Bitcoin has around 3-4% of PayPal's number, at most. Another thing is that Bitcoin usage tends to increase when the price increases, and get less active when the price decreases or remains stagnant for a certain period of time. PayPal enjoys a constant level of usage. Big difference.

These numbers are not that important. PayPal was able to enroll this many people, just because of their partnership with the major online retailers such as Ebay and Amazon. Attractive offers are available in these websites for users of PayPal. If these retailers prefer Bitcoin instead of PayPal, then the latter will lose most of its customers and correspondingly Bitcoin will witness a sharp surge in its usage.

[1Referee]

These numbers are not that important.

In fact, they are. This thread is more or less Bitcoin VS PayPal, and thus every detail counts.

PayPal was able to enroll this many people, just because of their partnership with the major online retailers such as Ebay and Amazon. Attractive offers are available in these websites for users of PayPal.

That definitely plays an important role, but if you look at PayPal in its totality, it does exactly what the consumer wants it to do. People can send/receive money instantly and for free to people, friends, etc. It doesn't cost them anything to buy whatever they want from webshops. They enjoy buyers protection, etc. Everything adds up to what PayPal is today.

If these retailers prefer Bitcoin instead of PayPal, then the latter will lose most of its customers and correspondingly Bitcoin will witness a sharp surge in its usage.

Sure, but that obviously won't be the case as Bitcoin simply said, isn't a good currency tool in its current form. Other than that, PayPal has been building up its brand throughout the years to something so solid, that whatever happens, it will remain larger than Bitcoin in the coming plenty of years, in the aspect of offering a proper payment platform.

[LuanX3]

I don't think it will overcome paypal right now. Maybe in the future it might. The problem with paypal is that it is unsafe for merchants to use, especially if you are selling something digital. Buyers can usually just do charge back leaving sellers without recourse. On bitcoins, it is more seller inclined. As bitcoin transactions cannot be reversed.

[Silberman]

I don't think it will overcome paypal right now. Maybe in the future it might. The problem with paypal is that it is unsafe for merchants to use, especially if you are selling something digital. Buyers can usually just do charge back leaving sellers without recourse. On bitcoins, it is more seller inclined. As bitcoin transactions cannot be reversed.

But that is probably one of the reasons it will difficult to bring customers over bitcoin since they will realize the merchant is the one that has all the advantages and they may prefer to keep doing transaction with paypal instead of using bitcoin.

[klf]

I don't think it will overcome paypal right now. Maybe in the future it might. The problem with paypal is that it is unsafe for merchants to use, especially if you are selling something digital. Buyers can usually just do charge back leaving sellers without recourse. On bitcoins, it is more seller inclined. As bitcoin transactions cannot be reversed.

But in any business buyers are god so if one want to success they have to protect buyers and that's what Paypal is doing and successful in online payments. Yes, some people misuse their charge back facilities but not all buyers are doing it. If you use bitcoins then you must trade using with any trusted escrow only otherwise seller may cheat you.

[Vivace92]

It is what I wait, I think bitcoin better than paypal so that someday I'm sure bitcoin would replace paypal. things that make me hates it is paypal's hassle of having to verify credit cards.

[Winner]

It is what I wait, I think bitcoin better than paypal so that someday I'm sure bitcoin would replace paypal. things that make me hates it is paypal's hassle of having to verify credit cards.

I wouldn't recommend anyone to use PayPal if they wanted to do something other than paying for things online. Receiving money inside of PayPal sounds really easy until the whole account just shuts down completely just because of the automated system in PayPal decides that it looks kind of suspicious.
I've read about people having legit reasons and claims and PayPal wouldn't give back their money so the sellers lost their money and the items that they sold to people on Ebay or whatever website they was doing business​ on.

[Tyrantt]

I've voted "maybe" because from the start, bitcoin and paypal aren't the same thing. But, will the btc replace paypal in the means of usage, I doubt it but it can be possible but not now or in any near future. I see it hat way just because of the people, they're used to paypal and paypal is used everywhere and when they hear of bitcoin as an "internet crypto-currency" they think it's some dodgy thing, so untill bitcoin fixes it's name and offers something better than paypal what people will hugely notice, then it's quite possible for bitcoin to overcome pp.

[Sithara007]

I don't think it will overcome paypal right now. Maybe in the future it might. The problem with paypal is that it is unsafe for merchants to use, especially if you are selling something digital. Buyers can usually just do charge back leaving sellers without recourse. On bitcoins, it is more seller inclined. As bitcoin transactions cannot be reversed.

If you use PayPal, the merchants are at the risk from charge backs. At the same time, if you use Bitcoins then the buyer is at risk. What will you do, if you purchase some item and later finds out that it is defective?

[Abiky]

Bitcoin won't be replaced by PayPal because if the whole banking system goes corrupt or they shut down then PayPal wouldn't have anything to do -they would just shut down as well and most of the money that they have wouldn't have a place that they could send it to so they would just keep it for themselves.

Bitcoin could survive that crisis and the people who have Bitcoin in their wallets could even spend their money in the midsts of the crisis as well.

Exactly. Being PayPal a centralized payments processor, will be prone to single point of failure. In contrast, Bitcoin is decentralized and distributed among many nodes. Considering the BTC network has around 5600 core nodes, you can rest assured that your money will be safe during crisis.

Just like cash, Bitcoin has the same advantage leaving you the opportunity to spend it, no matter what happens. If there is a single node on the network, it will remain alive for years to come.

Nevertheless, I'm hoping that Bitcoin and blockchain technology would become mature enough to compete against traditional payment methods. Just my thoughts. 

[hulla]

I don't think so, users bitcoin needs Paypal for buy bitcoin and convert fiat currency to digital currency,
bitcoin is long away become currency be used for payment transaction
bitcoin and Paypal will be good become best friends for making transaction.  

I think the future will not be too dependent bitcoin with paypal. users can directly convert bitcoin bitcoin them without the help of paypal. for now I think bitcoin still not overcome paypal yet

Yes users of  bitcoin are not depend on Paypal at least those who doesn't use Paypal,
 but the users of bitcoin who use Paypal they need exchange fiat money in Paypal to bitcoin
or bitcoin to fiat money in Paypal, so there is currency exchange section on bitcointalk
and today there is https://paybis.com/ for exchanging.

Yes. Apart from the good features which the bitcoiners can gain from OpenBazaar, bitcoiners can gain more of good features from the https://paybis.com/ through their current offer which also give bitcoin a huge possibility to overcome paypal/ebay in the future. Nevertheless, something need to be done with this hike in transaction fees because it  maybe one of the only thing that could hinder that top spot of bitcoin in the future.

[blackhawkeye1912]

Bitcoin overcame gold few day ago, PayPal is next in line along with western union. It's a question of time, this or next year when bitcoin grown enough all this money transfer services will lose many customers, bitcoin will give them much more for lower fee's.

This is not far from possible to happen to bitcoins from this point given the condition of bitcoins nowadays. It's a matter of appreciation and application when it comes to different transaction in order to overcome Paypal. Maybe in the future many will prefer bitcoins, who knows?

But there many client on Paypal are now transferred into bitcoin so far, though they are both used as electronically payments but still bitcoin prevails because bitcoin has value, and anonymous and because of the volatility the value changed while Paypal is not the same as bitcoin. So it means bitcoin already surpassed Paypal.

[stergium]

Bitcoin overcame gold few day ago, PayPal is next in line along with western union. It's a question of time, this or next year when bitcoin grown enough all this money transfer services will lose many customers, bitcoin will give them much more for lower fee's.

This is not far from possible to happen to bitcoins from this point given the condition of bitcoins nowadays. It's a matter of appreciation and application when it comes to different transaction in order to overcome Paypal. Maybe in the future many will prefer bitcoins, who knows?

But there many client on Paypal are now transferred into bitcoin so far, though they are both used as electronically payments but still bitcoin prevails because bitcoin has value, and anonymous and because of the volatility the value changed while Paypal is not the same as bitcoin. So it means bitcoin already surpassed Paypal.

yes that is right to say that most of the people are now changing their payment method. those people who were using bitcoin are now giving preference to bitcoin as bitcoin is more reliable comfortable to be use for payment method.

[Abiky]

Yes. Apart from the good features which the bitcoiners can gain from OpenBazaar, bitcoiners can gain more of good features from the https://paybis.com/ through their current offer which also give bitcoin a huge possibility to overcome paypal/ebay in the future. Nevertheless, something need to be done with this hike in transaction fees because it  maybe one of the only thing that could hinder that top spot of bitcoin in the future.

Yes. Bitcoin needs to lower its transaction fees, otherwise it would not become mainstream anytime soon. So far, Bitcoin has a lot to improve for it to become used for everyday payments, but I believe that as time goes by, the cryptocurrency will mature and rival traditional payment methods. Right now, the pioneer cryptocurrency has been facing with scalability issues, but once they're solved, it will pave the way towards massive increase in its price, as well as becoming a mainstream cryptocurrency.

As for Bitcoin's price, it has been declining massively, probably because of the fears of it being forked, among other things. But in the bright side, Bitcoin is becoming cheaper for others to invest into it for the long term.

Nevertheless, it would be hard to say if Bitcoin will overcome PayPal at all, as its future is uncertain. Just my opinion. 

[puremage111]

It wouldnt overcome but it will hild a strong preferences in currency spending. People usually pay for btc with paypal at preev rate of 5-15% due to chargeback. Paypal is just having a really huge issue for the chargeback. Even the hard fork issue may came soon, yet i guess btc is still more realible to sent and receive as a payment