Abiky (OP)
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www.Crypto.Games: Multiple coins, multiple games
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January 26, 2017, 01:27:16 PM |
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Signs that bitcoin will overcome Paypal is very obvious, now payments community have made the internet a priority, Bitcoin marketcap is more than $16 billion is the prooven, I am optimistic that not more 5 years again Paypal will stop its business.
That is certainly true. While Bitcoin has a huge marketcap, it can prove to overcome PayPal once it becomes used as a mainstream currency. However, to get started, Bitcoin would need to implement scalable solutions to be able to handle a lot of TPS without delays (which is occurring right now). As soon as SegWit gets approved by the majority of the miners, then the path will be open for Bitcoin to continue growing and become a true rival against conventional payment processors like Visa and PayPal. If Bitcoin along with OpenBazaar gets traction, then it might become the best alternative against centralized solutions like eBay marketplace with PayPal. Just my opinion.  |
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bestluck
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January 26, 2017, 01:44:02 PM |
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I don't think so because these are two different things. Bitcoin is cryptocurrency and PayPal is online money service. There will always be people and businesses who will not use Bitcoin but they will have the need for services that PayPal gives. But maybe Pay could embrace Bitcoin and on that way it would become even more popular among users.
But still these both are in competition with each other because if we say that bitcoin is a currency then we can also say that there are some payment systems for paying with these bitcoins so these wallets are in competition with paypal and they are overcoming paypal. |
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acekamath
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January 26, 2017, 01:53:46 PM |
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i dont think so
firstly paypal is not a small organization
and bitcoin has a very shady future if its prices continue to devalue at random points of time
it has to be consistent
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Bitcotalk
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January 26, 2017, 02:02:13 PM |
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i dont think so
firstly paypal is not a small organization
and bitcoin has a very shady future if its prices continue to devalue at random points of time
it has to be consistent
You are really a newbie in bitcoin world because you do not know that there is nothing shady in bitcoin. All the users of bitcoin are very happy with bitcoin and from an year everyone know that the price of bitcoin do not devalue but it is increasing continuously. |
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sir.humus
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January 26, 2017, 02:10:04 PM |
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I don't thing PayPal is a competitor to bitcoin.
In my opinion, it's not long before PayPal will add bitcoin as a currency to its wallet.
Then you'll be able to pay with bitcoin on eBay and other online shops.
It's just a meter of time
Wait and see
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hdtqisg
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January 26, 2017, 02:15:43 PM |
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Bitcoin is an anonymous, Paypal is complete and transparent information. There are no more likely
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rchstr
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January 26, 2017, 03:01:16 PM |
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Someday it will. It is good to be compared to Paypal rather than comparing it to US dollar or paper money. Bitcoin wallets are taking the higher level when it comes to using bitcoin for different transactions. So someday they will somehow overcome it. Although not now, because of illegal things that are happening in deep web but it can be fixed as long as no one will provide.
yes comparing digital money with paper money is not fair. first digital money can always be used all over the world. unlike the paper money, paper money can only be used in the respective local country that represents the fiat. second digital money can be stored in a safe place online. while the paper money, paper money can be stole even if it is in the bank. but yeah, the one that i see with bitcoin is, it is used in illegal things. it can easily be used in deep web and transact with anyone there. |
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Zadicar
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January 26, 2017, 03:05:44 PM |
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Someday it will. It is good to be compared to Paypal rather than comparing it to US dollar or paper money. Bitcoin wallets are taking the higher level when it comes to using bitcoin for different transactions. So someday they will somehow overcome it. Although not now, because of illegal things that are happening in deep web but it can be fixed as long as no one will provide.
yes comparing digital money with paper money is not fair. first digital money can always be used all over the world. unlike the paper money, paper money can only be used in the respective local country that represents the fiat. second digital money can be stored in a safe place online. while the paper money, paper money can be stole even if it is in the bank. but yeah, the one that i see with bitcoin is, it is used in illegal things. it can easily be used in deep web and transact with anyone there. You are just stating on the negative side of bitcoin on which you do have a point though but we are talking about services between paypal and bitcoin.I could say that theres no difference at all since they are transacting money transfers and the thing that they differ is only the fee and also bitcoin cant be controlled unlike on paypal. |
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PhucS
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January 26, 2017, 03:34:34 PM |
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In my opinion, the current Bitcoin can not pass the paypal. Paypal is a large company was established a long time, moreover it is controlled by the government. Bitcoin value of current is very large, but it does have some limitations, such as not being recognized in many countries. However this issue is increasingly positive signs. I hope that in the future Bitcoin will be able to overcome paypal
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kaijialex
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January 26, 2017, 04:36:53 PM |
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As someone in the comments have mentioned, Bitcoin is not competing with Paypal, but rather it's competing with fiat money. Although that statement isn't strictly correct, I think there is some truth to it, since Bitcoin can act both as a money and a money transfer service. If you see Bitcoin as money, which it is, then we need to develop a service like Paypal that can handle a huge number of transactions per seconds. In my opinion when the Bitcoin community can achieve to do so, that service will one of the Bitcoin killer apps.
One may also suggest that Bitcoin doesn't even compete with fiat, because fiat are currencies, whereas Bitcoin is money, so Bitcoin is actually competing with gold.
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ethbits
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January 26, 2017, 04:45:36 PM |
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first we must be able to buy bitcoin with paypal then we will talk about which is better.
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Monnt
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January 26, 2017, 04:55:30 PM
Last edit: January 26, 2017, 05:14:47 PM by Monnt |
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first we must be able to buy bitcoin with paypal then we will talk about which is better.
Buying bitcoins with PayPal already possible when you will be ready to escrow your bitcoins for 181 days, lol To decide the better one, your requirement is not making any sense imho. The most of potentials of bitcoin is hidden still for many country people. So, by using both of them also you may not conclude now. Only in future, by mass adoption we may get the answers. |
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boybugs18
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January 26, 2017, 05:27:02 PM |
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Yes of course but internet must be covered all places in this world and they must know how bitcoin works we can reach the potential of bitcoin overcoming paypal when mass adoption take place. Paypal is on the costumer side if not mistaken because of the charge back feature of paypal while Bitcoin is on the balance side that you have to be sure that the address you have to send payment to is correct.
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sportis
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Veni, Vidi, Vici
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January 26, 2017, 05:34:21 PM |
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Bitcoin Forum > Bitcoin > Bitcoin Discussion > Preview - Re: Will Bitcoin overcome Paypal? ( Re: Will Bitcoin overcome Paypal? ) Someday it will. It is good to be compared to Paypal rather than comparing it to US dollar or paper money. Bitcoin wallets are taking the higher level when it comes to using bitcoin for different transactions. So someday they will somehow overcome it. Although not now, because of illegal things that are happening in deep web but it can be fixed as long as no one will provide.
The way I see it, is difficult for bitcoin to overcome Paypal even though I greatly believe in a world without banks. Paypal is a centralized payment system but is buyer friendly; that is if the seller is a fraudster I will not lose my money because there is the chargeback policy. On the other side if I use bitcoin and seller is not a honor one he can scams me and I will lose my bitcoins because bitcoin payment is irreversible. That means bitcoin is a seller friendly payment system and everybody claims that I can use escrow, I believe that he doesn't ever buy anything from online shop. |
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Redrose
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January 26, 2017, 06:01:12 PM |
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Seeing Bitcoin overcoming PayPal in a very near future would not surprise me at all. If platforms like Coinbase can grow (as a mainstream adoption of Bitcoin will need for users to not hold the bitcoins and make sure they can not lose them and send them easily from a mobile application, then I see no other future than this one.
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dotajhay
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January 27, 2017, 06:42:45 AM |
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I said yes too because bitcoin can lose paypal depends on this users who using it and the benefits given this 2 online currency, bitcoin is better than because:
1. The users who using it bitcoin has more users than paypal.
2. The transaction fee - Bitcoin has no fee when you sending money not like paypal every transact you need to pay fee.
3. You can easily buy goods using bitcoins.
4. Fast transaction.
5. You can earn it for free with hard working and skills.
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aioc
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January 27, 2017, 10:19:31 AM |
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There's a big possibility that Bitcoin can overcome paypal,check out the servcies or the company that pffer paypal chances are they also offer Bitcoin,Bitcoin has become another option to company and publishers and beside paypal are not serving all countries,but bitcoin can.
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1Referee
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January 27, 2017, 10:56:09 AM |
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1. The users who using it bitcoin has more users than paypal.
Wrong. PayPal as we speak has nearly 200,000,000 active registered users. 2. The transaction fee - Bitcoin has no fee when you sending money not like paypal every transact you need to pay fee.
Bitcoin can be sent without a fee, but that's not recommended since you'll either have to wait days before it gets confirmed, or it doesn't get confirmed at all. And when it comes to low value transactions without any fees, they have 0.01% chance of getting confirmed. In order to get your transaction confirmed within 2-3 blocks, at least 0.0002BTC in fees is required. Other thing is that PayPal doesn't charge you with fees when it comes to sending money from your account balance or connected bank account. Fees apply when you're making use of credit/debit card. And of course fees must be paid by the receiving part when selling stuff. 3. You can easily buy goods using bitcoins.
Yup. 4. Fast transaction.
Yup, but as said before, confirmations are important here too. 5. You can earn it for free with hard working and skills.
If you work hard for it, how is then earning for free? You deliver something and get paid for it. Not what I consider to be free.  |
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jovs
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January 27, 2017, 11:11:57 AM |
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As someone in the comments have mentioned, Bitcoin is not competing with Paypal, but rather it's competing with fiat money. Although that statement isn't strictly correct, I think there is some truth to it, since Bitcoin can act both as a money and a money transfer service. If you see Bitcoin as money, which it is, then we need to develop a service like Paypal that can handle a huge number of transactions per seconds. In my opinion when the Bitcoin community can achieve to do so, that service will one of the Bitcoin killer apps.
One may also suggest that Bitcoin doesn't even compete with fiat, because fiat are currencies, whereas Bitcoin is money, so Bitcoin is actually competing with gold.
we can't really compare bitcoin to fiat since they are different. The advantage of paypal, you can directly with draw and deposit your money with fiat money absolutely in all countries, unlike in bitcoin, some in countries don't convert fiat money to bitcoin to fiat unless you buy from a person. I do believe, bitcoin would be easily converted from fiat to btc, vice versa. Hence, bitcoin will more popular for people who transact online that wants to make their money to be credited to their bank account without hassle. |
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HarringtonStark
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January 27, 2017, 11:40:23 AM |
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I would say yes as more cashless methods of payments are being developed. You can soon pay using just your smartphone. Yes credit/debit cards will soon disappear. I personally think using your phone to pay is convenient as you can just scan the store's QR code and cha-ching! Yes bitcoins will be the future currency and even $ might become digital because this is digital age we are in.
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