Will Bitcoin overcome Paypal?

[ivanst776]

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 many steps further than bitcoin but we can't say that bitcoin will not pass paypal in the next decades.

But paypal is stronger and is used worldwide and in lots of website (not saying all), wherever we go to purchase something the next thing after the credit card form is the paypal checkout so if paypal would collaborate with bitcoin then there would be the strongest payment processor ever.

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[Alesis]

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 many steps further than bitcoin but we can't say that bitcoin will not pass paypal in the next decades.

But paypal is stronger and is used worldwide and in lots of website (not saying all), wherever we go to purchase something the next thing after the credit card form is the paypal checkout so if paypal would collaborate with bitcoin then there would be the strongest payment processor ever.

Paypal may be strong and fast but unfortunately not only is it centralised, it also allows chargebacks which makes it near incompatible with Bitcoin (where the possibility of near anonymity makes a lot of people attempt scams).  Once Bitcoin's slow transaction problems are sorted with SegWit or something, it may well be able to surpass PayPal as in many aspects it is fundamentally better.

[jonnybravo0411]

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 many steps further than bitcoin but we can't say that bitcoin will not pass paypal in the next decades.

But paypal is stronger and is used worldwide and in lots of website (not saying all), wherever we go to purchase something the next thing after the credit card form is the paypal checkout so if paypal would collaborate with bitcoin then there would be the strongest payment processor ever.

Paypal may be strong and fast but unfortunately not only is it centralised, it also allows chargebacks which makes it near incompatible with Bitcoin (where the possibility of near anonymity makes a lot of people attempt scams).  Once Bitcoin's slow transaction problems are sorted with SegWit or something, it may well be able to surpass PayPal as in many aspects it is fundamentally better.

[BitHodler]

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 many steps further than bitcoin but we can't say that bitcoin will not pass paypal in the next decades.

But paypal is stronger and is used worldwide and in lots of website (not saying all), wherever we go to purchase something the next thing after the credit card form is the paypal checkout so if paypal would collaborate with bitcoin then there would be the strongest payment processor ever.

Paypal may be strong and fast but unfortunately not only is it centralised, it also allows chargebacks which makes it near incompatible with Bitcoin (where the possibility of near anonymity makes a lot of people attempt scams).  Once Bitcoin's slow transaction problems are sorted with SegWit or something, it may well be able to surpass PayPal as in many aspects it is fundamentally better.

While I agree that PayPal's charge back feature is subject to abuse by scammers, this charge back feature is also one of the main reasons people make use of PayPal.

Buyers are the one that love that feature, and thus merchants and other sellers will continue to use PayPal as that will translate into a higher revenue as PayPal is a highly preferred payment option.

Other than that, there is nothing wrong with the transaction speed of Bitcoin. You still have to know the difference between transaction speed and confirmation times it seems.....

[hurain]

It has already overcome PayPal by my standards but it's left for the entire world to come to terms with this reality and I hope it will soon because the merits of Bitcoin outweighs it's shortfalls and I cannot say the same for PayPal.

What are your standards then? If you realistically look at basically every aspect, then it's still PayPal that has an advantage over Bitcoin. Especially when you look at how people use PayPal to purchase stuff and transact with each other. Everything you do with your PayPal balance posts instantly and offers buyers the protection they want when using PayPal as desired payment option.

Also free returns, nothing can compete with Paypal when it comes to online shopping.

Well, paypal is very reliable, so nearly all online stores accept, even illegal online store was also accept paypal. Well, for the moment, bitcoin able to compete in terms of anywhere other than online stores.

i do not think that paypal is so much reliable, as their service is not available everywhere. i think bitcoin is more reliable that paypal and that is the reason that the popularity of bitcoin is increasing day and night.

[noormcs5]

It has already overcome PayPal by my standards but it's left for the entire world to come to terms with this reality and I hope it will soon because the merits of Bitcoin outweighs it's shortfalls and I cannot say the same for PayPal.

What are your standards then? If you realistically look at basically every aspect, then it's still PayPal that has an advantage over Bitcoin. Especially when you look at how people use PayPal to purchase stuff and transact with each other. Everything you do with your PayPal balance posts instantly and offers buyers the protection they want when using PayPal as desired payment option.

Also free returns, nothing can compete with Paypal when it comes to online shopping.

Well, paypal is very reliable, so nearly all online stores accept, even illegal online store was also accept paypal. Well, for the moment, bitcoin able to compete in terms of anywhere other than online stores.

I guess reliability in paypal is not that much. As far as I know paypal is not available everywhere and it allows those scAmmers to take advantage their features unlike bitcoin you can hire middle man for transaction.

[pedrog]

It has already overcome PayPal by my standards but it's left for the entire world to come to terms with this reality and I hope it will soon because the merits of Bitcoin outweighs it's shortfalls and I cannot say the same for PayPal.

What are your standards then? If you realistically look at basically every aspect, then it's still PayPal that has an advantage over Bitcoin. Especially when you look at how people use PayPal to purchase stuff and transact with each other. Everything you do with your PayPal balance posts instantly and offers buyers the protection they want when using PayPal as desired payment option.

Also free returns, nothing can compete with Paypal when it comes to online shopping.

Well, paypal is very reliable, so nearly all online stores accept, even illegal online store was also accept paypal. Well, for the moment, bitcoin able to compete in terms of anywhere other than online stores.

I guess reliability in paypal is not that much. As far as I know paypal is not available everywhere and it allows those scAmmers to take advantage their features unlike bitcoin you can hire middle man for transaction.

Correct, there are a lot of payment processors around the world, many country specific, so you need to find what's best in any particular location.

Unlike with bitcoin, I have never been scammed with Paypal, well I was once and got my money back after making a dispute.

[mmo_online_1981]

BTC differs a lot with Paypal!
The BTC sends no one to accept (requires math properly) and Paypal has a big intervention by the operator

[Zadicar]

BTC differs a lot with Paypal!
The BTC sends no one to accept (requires math properly) and Paypal has a big intervention by the operator

This is actually a common difference among the two and i could say bitcoin is lot a way better than paypal because of its low fees and irreversible transactions which most people do really love. Time will come that bitcoin  could really surpass paypal i dont know when it would be but adoption is on the move which makes this thing more possible.

[ASHLIUSZ]

There is nothing to make a comparison between bitcoin and PayPal. Both differ in it legalities and the method of using. Co-founder of PayPal indicated that PayPal is payment support that made an change in the payment system. Bitcoin as a payment gateway has also grown to get used as a currency. This clearly shows the potential of bitcoin.

[Gameroid]

It has already overcome PayPal by my standards but it's left for the entire world to come to terms with this reality and I hope it will soon because the merits of Bitcoin outweighs it's shortfalls and I cannot say the same for PayPal.

What are your standards then? If you realistically look at basically every aspect, then it's still PayPal that has an advantage over Bitcoin. Especially when you look at how people use PayPal to purchase stuff and transact with each other. Everything you do with your PayPal balance posts instantly and offers buyers the protection they want when using PayPal as desired payment option.

Also free returns, nothing can compete with Paypal when it comes to online shopping.

Well, paypal is very reliable, so nearly all online stores accept, even illegal online store was also accept paypal. Well, for the moment, bitcoin able to compete in terms of anywhere other than online stores.

yes that is right but i thin their service is not yet available everywhere. for example the service paypal is not available everywhere. therefore bitcoin is the best option which is available every where.

[sevendust777]

I belived bitcoin is most reliable than Paypal. It has overcome Paypal because bitcoin is become popular and most uses by anyone.Bitcoin is being uses over the world, easy to access who knows of it and it has a good advantage than paypal. Though it has a difference but I believe its really way better than Paypal...

[soul-impact]

It has already overcome PayPal by my standards but it's left for the entire world to come to terms with this reality and I hope it will soon because the merits of Bitcoin outweighs it's shortfalls and I cannot say the same for PayPal.

What are your standards then? If you realistically look at basically every aspect, then it's still PayPal that has an advantage over Bitcoin. Especially when you look at how people use PayPal to purchase stuff and transact with each other. Everything you do with your PayPal balance posts instantly and offers buyers the protection they want when using PayPal as desired payment option.

Also free returns, nothing can compete with Paypal when it comes to online shopping.

Well, paypal is very reliable, so nearly all online stores accept, even illegal online store was also accept paypal. Well, for the moment, bitcoin able to compete in terms of anywhere other than online stores.

yes that is right but i thin their service is not yet available everywhere. for example the service paypal is not available everywhere. therefore bitcoin is the best option which is available every where.

You are wrong dude. Paypal are existing in everywhere and most of the online services are accepting this payment methods. However, I never trust paypal since they require us to provide a lot of ID and many other things. Moreover, your account can be limited or even banned, which can make your lose a lot of money. Thus, Bitcoin is always the best

[1Referee]

It has overcome Paypal because bitcoin is become popular and most uses by anyone.

PayPal enjoys a far greater level of adoption and usage throughout the world. Bitcoin isn't even close if you realistically look at how PayPal has been growing. Another thing, PayPal has more than 200 million active users. Bitcoin not even 3% of that. I don't understand where you get your information regarding PayPal from. Not a very reliable source obviously.

Bitcoin is being uses over the world, easy to access who knows of it and it has a good advantage than paypal.

Ok, and what are these advantages according to you?

Though it has a difference but I believe its really way better than Paypal...

You say that, but so far you haven't said anything about why you think PayPal is better than Bitcoin.

[szpalata]

BTC differs a lot with Paypal!
The BTC sends no one to accept (requires math properly) and Paypal has a big intervention by the operator

This is actually a common difference among the two and i could say bitcoin is lot a way better than paypal because of its low fees and irreversible transactions which most people do really love. Time will come that bitcoin  could really surpass paypal i dont know when it would be but adoption is on the move which makes this thing more possible.

I liked almost everything you said save the irreversible transactions. It should be possible going forward for us to be able to reverse Bitcoin transactions just like the chargeback system used by PayPal because a lot if scammers tend to rely on the anonymity of Bitcoin transactions to perpetuate crime and hence a possible chargeback/reversal of Bitcoin transactions could help curb such anomaly.

[ethbits]

Also I am sure this has been mentioned but bitcoin even with escrow is a lot cheaper!

[BigBos]

I belived bitcoin is most reliable than Paypal. It has overcome Paypal because bitcoin is become popular and most uses by anyone.Bitcoin is being uses over the world, easy to access who knows of it and it has a good advantage than paypal. Though it has a difference but I believe its really way better than Paypal...

Well, I know, since I know the online business, it is very difficult to get paypal. but, when the bitcoin know, I can produce it even if it was only from the faucet. Well, that explains a little advantage that bitcoin than paypal

[ivanst776]

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 many steps further than bitcoin but we can't say that bitcoin will not pass paypal in the next decades.

But paypal is stronger and is used worldwide and in lots of website (not saying all), wherever we go to purchase something the next thing after the credit card form is the paypal checkout so if paypal would collaborate with bitcoin then there would be the strongest payment processor ever.

Paypal may be strong and fast but unfortunately not only is it centralised, it also allows chargebacks which makes it near incompatible with Bitcoin (where the possibility of near anonymity makes a lot of people attempt scams). Once Bitcoin's slow transaction problems are sorted with SegWit or something, it may well be able to surpass PayPal as in many aspects it is fundamentally better.

PayPal is already strong and fast enough, the only bad part is the chargebacks which is not always a good thing for sellers.

Bitcoin and paypal in the anonymity field are not equal because bitcoin is pseudonymous but not fully anonymous and about the speed they can be very similar to each other, we should remember that paypal can hold the funds for a month or more while bitcoin after 1 confirmation most of the time the money can't be sent back (chargeback).

[erickkyut]

PayPal is well known globally but when bitcoin enters the market and can be used as mode of payment, many PayPal users switched to bitcoin for different reasons. First, bitcoin has lesser charges with PayPal. Second, in creating a PayPal account, there are lots of requirements you need to submit while bitcoin can be use anonymously. Lastly, the value of bitcoin can increase or decrease which is a good thing for investors. Therefore, there is a possibility that bitcoin will replace PayPal in the future.

[Abiky]

Paypal is many steps further than bitcoin but we can't say that bitcoin will not pass paypal in the next decades.

But paypal is stronger and is used worldwide and in lots of website (not saying all), wherever we go to purchase something the next thing after the credit card form is the paypal checkout so if paypal would collaborate with bitcoin then there would be the strongest payment processor ever.

True. PayPal has a strong user base and more recognition among people, than Bitcoin itself. Being a centralized payment processor, it has the convenience of handling bigger transaction load than Bitcoin. But as time goes by, I believe that Bitcoin and blockchain technology will improve, making it capable of handling massive workload, and possibly attract more users since it provides better flexibility, freedom, and most of all decentralization over user funds.

I hope that this year would become big towards helping Bitcoin scale and become closer to its rivals. Just my opinion.