Will Bitcoin overcome Paypal?

[mrkevio]

Of course bitcoin will eclipse paypal, paypal is not even close, we are talking about a currency here not some overrated payment system, bitcoin has the potential to replace some of the most powerful currencies that have ever existed, paypal is nothing compared to bitcoin.

At the moment it's exactly the opposite: Bitcoin is nothing compared to PayPal. Bitcoin doesn't have enough popularity and demand yet to conquer PayPal, as you can pay with PP at almost any shop you go to, or basically every online shop too. Soon BTC might go over PayPal, but for now I don't see it having many chances..

[chshean6]

bitcoin and Paypal are different and perform different functions,why bitcoin and Paypal fight?they can live together.

[Nathan Graves]

I think it is not yet time for this to happen, and it will probably take many years for Bitcoin to be as well known and used as PayPal. The point is that PayPal is integrated with payment systems from various websites, even vloggers from youtube have the possibility to use this form of payment. But I do not think PayPal is better than Bitcoin, I think part of the success of PayPal is due to the fact that this service has had enough time to have that reach.

[nayakayp]

i think no

[1Referee]

bitcoin and Paypal are different and perform different functions,why bitcoin and Paypal fight?they can live together.

I think it has more to do with the fact that most people here only use Bitcoin for sending and receiving transactions, where they purely base their opinion here on that. In that regard, it's Bitcoin the transacting tool versus PayPal the other transacting tool. These people don't realize that Bitcoin is much more than just a tool that allows people to transact with each other, while PayPal is nothing more than a payment platform. And yes, I also don't see a point in people constantly hoping for Bitcoin to replace/overcome whatever other financial institutions. If you look at the world population, then the far majority of these people are nothing more than sheeps being ok with operating within a centralized system when it offers them comfort and security. It's their choice. Bitcoin is always an option if they ever choose to look for an alternative.

[paul gatt]

I think it is not yet time for this to happen, and it will probably take many years for Bitcoin to be as well known and used as PayPal. The point is that PayPal is integrated with payment systems from various websites, even vloggers from youtube have the possibility to use this form of payment. But I do not think PayPal is better than Bitcoin, I think part of the success of PayPal is due to the fact that this service has had enough time to have that reach.

Like you
but I can tell a more understandable way, we can not compare Bitcoin vs paypal, because the nature of these two different types of money
Bitcoin is seen as a virtual currency of technology
And paypal is real money, it can determine the face value and gained worldwide recognition
And I think, we will jointly develop

[lambofan]

bitcoin and Paypal are different and perform different functions,why bitcoin and Paypal fight?they can live together.

That sounds logical, each person is able to choose which medium to use in some point.

[MonkeyManofLife]

I don't think that bitcoin will overcome paypal because, paypal is huge and bitcoin is pretty big but, not a lot of people besides people that use the internet a lot know about it a lot.

[deppil]

bitcoin and Paypal are different and perform different functions,why bitcoin and Paypal fight?they can live together.

I think both have some of the same functionality that is the payment method, you can compare them in terms of it. I think paypal slightly superior to issue a payment method than bitcoin

[UDC]

well they're increasing their fees for multiple options and even for currency conversion, adding 0.5% (e.g. 4.0% -> 4.5%), so bitcoin is only getting more attractive to sellers.

[Velkro]

How can apples replace oranges? Its impossible. Bitcoin is more like store of value with currency option. Paypal will be never store of value, its centralised company.
Diffirences are too vast to compare this.

[pecson134]

For now I think paypal still have the upper hand than bitcoins but still the latter were on state of development and progression so we can't say in the future what bitcoin might play in the world's economy. In this kind of advancement bitcoin does it can surpass paypal as to functionality and flexibility.

[realm]

I'm more optimistic that bitcoin will surpass Visa rather than Paypal. Paypal isn't just money, they offer the customer protection too, which is a big plus. On the other hand bitcoin's transactions are irreversible ,almost  like bank transfers. I see bitcoin and paypal co-existing, maybe in the future paypal ends up accepting bitcoin.

[Vaskiy]

Bitcoin is reaching high even without much advertising. PayPal could have never reached such high if promoting the service is not perfect. Soon PayPal too might adopt the Blockchain technology at which the competence increases. So can't predict the future of bitcoin against PayPal currently.

[clickerz]

well they're increasing their fees for multiple options and even for currency conversion, adding 0.5% (e.g. 4.0% -> 4.5%), so bitcoin is only getting more attractive to sellers.

Yes, this is one of the reasons that it is possible to overcome paypal because of higher fees paypal charges. Also bitcoin is reliable and there is no chargeback or you cant reverse the transaction when it is already done. Though it is favorable on sellers but it depends on both of them if the agree before they transact.

[(altair)]

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. 

For my opinion bitcoin can really overcome paypal since lot of users really like how bitcoin works,
Bitcoin doesn't have third party payment and everyone can use bitcoin and they don't have to give their real information so even the students can use it.

[squatz1]

This follows the same question of will Bitcoin ever overtake FIAT when it comes to use in everydaylife, people on here will like to think otherwise but bitcoin will never overtake FIAT and even if they had such a growing base governments wouldn't allow Bitcoin to overtake their own currency. It would hurt them too much to allow that to occur.

I'm more optimistic that bitcoin will surpass Visa rather than Paypal. Paypal isn't just money, they offer the customer protection too, which is a big plus. On the other hand bitcoin's transactions are irreversible ,almost  like bank transfers. I see bitcoin and paypal co-existing, maybe in the future paypal ends up accepting bitcoin.

Paypal (the company not the full on service) actually already accepts bitcoin as payment on company they own which is a merchant provider for credit cards and other things known as Braintree. I'd say the only time I like to use Paypal follows what you say above, it's nice to know that if someone scams me I can get my money back.

[Abiky]

I'm more optimistic that bitcoin will surpass Visa rather than Paypal. Paypal isn't just money, they offer the customer protection too, which is a big plus. On the other hand bitcoin's transactions are irreversible ,almost  like bank transfers. I see bitcoin and paypal co-existing, maybe in the future paypal ends up accepting bitcoin.

That is certainly true. While you can't reverse transactions with Bitcoin, you can help protect yourself from this by using escrow. In case you paid for a service or item that you did not receive, you can always submit a claim for the escrow to return your Bitcoin.

Still, if Bitcoin keeps making strides, then we can expect for PayPal to accept it sometime in the future, to make our life easier when buying things at ebay, which doesn't accept BTC for payments. This would probably happen once Bitcoin becomes scalable with the acceptance of SegWit and Lightning Network.

Nevertheless, I hope that cryptocurrencies like Bitcoin become scalable enough to handle more TPS, to become a better alternative towards using Visa or any other payment processor. It would be quite interesting to see, how this would be achieved, preserving decentralization at most. Just sharing my thoughts. 

[angaper]

Of course it is possible because PayPal has remained unchanged for several years and bitcoin gathers the necessary elements and features of a more advanced technology that PayPal can't provide. So I think it is just a matter of time to see the bitcoin displacing the current influence of PayPal.

[gandame]

Bitcoin will not overcome paypal because paypal really helped with those who wanted to purchase bitcoin, but you should be carefull in those who are dealing btc through paypal because some of them were scammers. Paypal has a specific use compared to bitcoin because the account is used to do payments using fiat money, and that options has nothing to do about digital currency.