Will Bitcoin overcome Paypal?

[Hazir]

the only thing bitcoin needs is adoption, nothing else matters.

Adoption is progressing, but there is limit to it and I am afraid that we might hit is soon.

We need to be aware that bitcoin has issues, confirmation times, current high fees required by miners, scaling is becoming a big problem for us and have no solution to fix this.

Adoption is our final goal, but how we can reach it when bitcoin is not offering the best user experience?

[severaldetails]

I don't see bitcoin overcome paypal.
Paypal provides an easy to use payment system with a certain amount of security against fraud.
And I think that there are way more people out there who prefere the security of paypal to the liberty you have with bitcoin.

There is a lot of fradud on paypal, the biggest problem is for sellers if a buyer complaints that he/she didn't receive the product, paypal refund the money (if shipment isn't tracked with firm its difficult to prove that the package arrived to the buyer). Bitcoin is safer for the seller, and paypal its safer for the buyer. I think that if you buy from trusted sellers, you haven't to worry about bitcoin as a payment method.

I see as well that a seller can have problems with the refund policy of paypal.
But most of the sellers who use paypal are business men who sell stuff for living. Customers are often just private people.
If the seller does not accept the payment system the customer wants, he will have a bigger problem than the customer who can get his stuff somewhere else as well.
I think that the customer dictates the payment system, and for him paypal is better due to smaller chances of getting scamed.
That's the reason why I think bitcoin won't be able to overcome paypal.

[Gameroid]

   I think yes, one day. I dont know when, but eventually when bitcoin become mainstream PayPal will lose purpose.
   PayPal is just service for sending fiat, why would people use it if there is currency that makes transactions much easier. Bitcoin is better then other currencies, with that bitcoin have functions that fiat need some services to do what bitcoin can alone.

i think it already has overcome paypal, people are not changing their, strategy of using bitcoin now they are using bitcoin for buying something, and the reason is that bitcoin is becoming more and more reliable from day to day. while paypal service is becoming weaker and weaker from time to time.

[n691309]

Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years?

We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal.

Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired. 

Paypal is being used mostly every where and to think that bitcoin can overcome it is really to hard (at least for now and for the next few years) because firstly paypal is being used in ebay, one of the biggest online shop for digital/physical stuff then it is integrated in many payment processors where together with amazon pay, credit cards, paypal is included in the list and they ship the items to user's paypal address so bitcoin is so far but the hope never ends.

[20kevin20]

The popularity of PayPal, especially because it can be used with most credit cards, makes Bitcoin look like it doesn't even exist. There are probably tens of millions of transactions through PayPal every day, while with Bitcoin.. I don't think so. The coin with the best popularity wins because that means it has the highest demand. But soon people will maybe wake up to the reality and find out they do not really need to be looked after by governments all the time ..

[instacalm]

Do you think that sometime in the future, Bitcoin might overcome Paypal

For me personally Bitcoin has "overcome" Paypal many years ago. I have rarely made use of Paypal since Bitcoin has replaced its many advantages in a much more elegant manner. You really can't compare the two and whenever Paypal freezes my account (which in itself should never be happening!) I am forcefully reminded of this grim fact about Paypal. Bitcoin on the other hand shines when it comes to free use and open access. I love it for this.

[lambofan]

  I think yes, one day. I dont know when, but eventually when bitcoin become mainstream PayPal will lose purpose.
   PayPal is just service for sending fiat, why would people use it if there is currency that makes transactions much easier. Bitcoin is better then other currencies, with that bitcoin have functions that fiat need some services to do what bitcoin can alone.

i think it already has overcome paypal, people are not changing their, strategy of using bitcoin now they are using bitcoin for buying something, and the reason is that bitcoin is becoming more and more reliable from day to day. while paypal service is becoming weaker and weaker from time to time.

Being realistic and as it was quoted in the news source it occupied the place number two in the list on online payment methods yet, although that could change in the near future.

[darkangel11]

The popularity of PayPal, especially because it can be used with most credit cards, makes Bitcoin look like it doesn't even exist. There are probably tens of millions of transactions through PayPal every day, while with Bitcoin.. I don't think so. The coin with the best popularity wins because that means it has the highest demand. But soon people will maybe wake up to the reality and find out they do not really need to be looked after by governments all the time ..

Now think of the downsides of PayPal. The invigilation, possibility that your account can be closed for no reason. If you have a business that depends on PayPal as a payment processor you make your company depend on another private company that may do all the things private companies do, from having problems/delays, maintenance in the middle of your working day, to being hacked, leaking sensitive information and going bankrupt. Also, their fees are really high.

[Yakamoto]

Bitcoin is still a far ways away from becoming anything big like Paypal, but it definitely has a huge potential to take off considering the ease of global use for Bitcoin, and the lack of age restrictions.

Will it? Maybe, might never, might in a few years, maybe even sooner than that. We never know for sure and a lot can happen that will either help or hurt Bitcoin in the long run.

[BeGoods]

The popularity of PayPal, especially because it can be used with most credit cards, makes Bitcoin look like it doesn't even exist. There are probably tens of millions of transactions through PayPal every day, while with Bitcoin.. I don't think so. The coin with the best popularity wins because that means it has the highest demand. But soon people will maybe wake up to the reality and find out they do not really need to be looked after by governments all the time ..

PayPal has the technology and innovation that is great for the payment method, because the company they are centered on it. But back to the community. that is it they want the freedom of the transaction like those offered by bitcoin

[HaXX0R1337]

The popularity of PayPal, especially because it can be used with most credit cards, makes Bitcoin look like it doesn't even exist. There are probably tens of millions of transactions through PayPal every day, while with Bitcoin.. I don't think so. The coin with the best popularity wins because that means it has the highest demand. But soon people will maybe wake up to the reality and find out they do not really need to be looked after by governments all the time ..

I am not sure how many transactions are made through paypal per day but i left using paypal a long time ago and the problem with it is they might freeze your sites funds without any information or notifications and it would take a very long time to settle the issue and with bitcoin you have more control over your assets and i think is much safer and smooth.

[BlockEye]

The popularity of PayPal, especially because it can be used with most credit cards, makes Bitcoin look like it doesn't even exist. There are probably tens of millions of transactions through PayPal every day, while with Bitcoin.. I don't think so. The coin with the best popularity wins because that means it has the highest demand. But soon people will maybe wake up to the reality and find out they do not really need to be looked after by governments all the time ..

I am not sure how many transactions are made through paypal per day but i left using paypal a long time ago and the problem with it is they might freeze your sites funds without any information or notifications and it would take a very long time to settle the issue and with bitcoin you have more control over your assets and i think is much safer and smooth.

Same here, before I used PayPal but it is hard for me do to transactions of paying that it requires lots of information unlike in bitcoin the transactions were fast and free . And like mentioned I really felt the sense of security and being safe and easy on using it.

[BuyWithBitcoin.info]

Paypal is collapsing, if just more people would understand the benefits of bitcoin it would collapse faster.
Only reason for me to use paypal just for ebay.
Ebay bought paypal and it will never integrate bitcoin, because they would earn less, we need something bigger like ebay but only for bitcoin virtual currency.

[Superzpay]

the only thing bitcoin needs is adoption, nothing else matters.

Adoption is progressing, but there is limit to it and I am afraid that we might hit is soon.

We need to be aware that bitcoin has issues, confirmation times, current high fees required by miners, scaling is becoming a big problem for us and have no solution to fix this.

Adoption is our final goal, but how we can reach it when bitcoin is not offering the best user experience?

The problems which you have mentioned are not the problems n real because the confirmation time is not a matter if we look at the timing of banks wire and the time of other remittance companies. The transaction fees will also not be felt as high if we look at the transaction fees of banks especially look at the banks international transaction fees and also look at the fees of other payment processors. Bitcoin is free f any problem. It is all secure way of finance.

[Abiky]

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.

Exactly. Since Coinbase provides convenience, within your mobile device, to send and receive Bitcoin, it could spread its mainstream adoption as well as prove to become a better alternative than PayPal. Due to the decentralized nature of Bitcoin, people can transact with lower fees than PayPal, and also be able to have full control of their funds. This proves to be a huge advantage over any centralized payment processor, leaving the power in the hands of everyday people. With improvements, such as SegWit and Lightning Network, we will get there someday. Just sharing my thoughts. 

[richardsNY]

Paypal is collapsing, if just more people would understand the benefits of bitcoin it would collapse faster.
Only reason for me to use paypal just for ebay.
Ebay bought paypal and it will never integrate bitcoin, because they would earn less, we need something bigger like ebay but only for bitcoin virtual currency.

PayPal isn't collapsing at all. To make it even more interesting, PayPal has been growing constantly from year to year. It's not for nothing that even though quite some Bitcoiners don't seem like to it, it's still enjoying larger fields of acceptance throughout the world. Other than that, PayPal doesn't need to collapse. People are free to use whatever payment option they want as every platform offers its own benefits. In some cases PayPal comes out more handy, and in other cases it's Bitcoin that is the better option.

[Abiky]

PayPal isn't collapsing at all. To make it even more interesting, PayPal has been growing constantly from year to year. It's not for nothing that even though quite some Bitcoiners don't seem like to it, it's still enjoying larger fields of acceptance throughout the world. Other than that, PayPal doesn't need to collapse. People are free to use whatever payment option they want as every platform offers its own benefits. In some cases PayPal comes out more handy, and in other cases it's Bitcoin that is the better option.

Well it is only a matter of choice, whenever users would want to use PayPal or Bitcoin for everyday transactions. I think that it is not bad to have become of them to co-exist, since you can balance between the two, when it comes to buy stuff at a store like eBay, which it only accepts PayPal, or use OpenBazaar which uses Bitcoin.

This somewhat similar to having a bank account, as well as a Bitcoin wallet. There will be times where you need to use Bitcoin for certain stuff, and there are other times where you need standard fiat money such as investing in stocks, buying real estate, and others.

Nevertheless, I hope that if SegWit becomes active on Bitcoin, it could help it gain traction, leaving the cryptocurrency closer to its competitors in TPS. Only time will tell whenever people prefer Bitcoin over traditional payment processors like PayPal, or not. Just my opinion. 

[LegendaryMiner]

The popularity of PayPal, especially because it can be used with most credit cards, makes Bitcoin look like it doesn't even exist. There are probably tens of millions of transactions through PayPal every day, while with Bitcoin.. I don't think so. The coin with the best popularity wins because that means it has the highest demand. But soon people will maybe wake up to the reality and find out they do not really need to be looked after by governments all the time ..

I am not sure how many transactions are made through paypal per day but i left using paypal a long time ago and the problem with it is they might freeze your sites funds without any information or notifications and it would take a very long time to settle the issue and with bitcoin you have more control over your assets and i think is much safer and smooth.

Same here, before I used PayPal but it is hard for me do to transactions of paying that it requires lots of information unlike in bitcoin the transactions were fast and free . And like mentioned I really felt the sense of security and being safe and easy on using it.

A few years ago I used PayPal, and I also think that Bitcoin makes things easier. Difficulties in using PayPal already begin at registration, where you need to provide lots of personal information. Another process that is also complicated, in my opinion, is the procedure for linking it to the bank account. Not to mention the fees involved in using the service.

[Slow death]

the only thing bitcoin needs is adoption, nothing else matters.

Adoption is progressing, but there is limit to it and I am afraid that we might hit is soon.

We need to be aware that bitcoin has issues, confirmation times, current high fees required by miners, scaling is becoming a big problem for us and have no solution to fix this.

Adoption is our final goal, but how we can reach it when bitcoin is not offering the best user experience?

A certain merchant from a third world country said: "I like bitcoin, but spending hours waiting for a transaction confirms, Makes me wonder if i should or should not continue to accept bitcoin as a form of payment"

When lord was asked:

why he did not increase the fee for the transaction to be faster?

He replied as follows:

"I live in the third world country, here every penny is important"


Many countries use paypal while bitcoin you have to convert to fiat to use in many countries.

Example of my case:

The bitcoin debit card does not have support for my country, I have to exchange bitcoin to paypal and then I transfer to my bank

It will not be so soon that bitcoin will overcome paypal.

[iram3130]

As most of the votes say, Bitcoin will definitely overcome PayPal. Well, may not be right now but in near future for sure. Bitcoin beats Paypal in every possible way. User interface, fee structure, trustworthy, the list goes on and on..