Will Bitcoin overcome Paypal?

[Twipple]

Bitcoin is different than PayPal so it is like comparing Apples to Oranges when it we're discussing about spending our own money on something. From what I know about PayPal is that they need to have another source in order to get their money. Bitcoin is basically like free money because if someone that knows how to make computers more powerful than it already is, they could build a Bitcoin Miner and get money from Mining Bitcoins and they would get whatever currency they want (PayPal doesn't have that feature).

Bitcoin won't overcome PayPal though Bitcoin will be a popular Digital Payment Platform.

You are right - you do not need to compare these payment systems. Bitcoin is more than a payment system. I am sure that they fulfill their functions and will exist in the future

Yes you nailed it. There is no comparison between bitcoin and PayPal as bitcoin has so many features and jargon free which we cannot find in PayPal and cannot expect as well, In other words PayPal is a failure method and Bitcoin is the future as day by day more and more merchants have started accepting BTC and more countries are going cashless so there is a lot in store for BTC which PayPal can never achieve.

[shield132]

Yes you nailed it. There is no comparison between bitcoin and PayPal as bitcoin has so many features and jargon free which we cannot find in PayPal and cannot expect as well, In other words PayPal is a failure method and Bitcoin is the future as day by day more and more merchants have started accepting BTC and more countries are going cashless so there is a lot in store for BTC which PayPal can never achieve.

hah, do you understand what do you say? Do you have ability to get back wrongly sent transaction? While shopping, can you get your money back?
Also how can you consider bitcoin and paypal in one way? Bitcoin is currency and paypal is operating online payments. Only one thing I can to agree you is that bitcoin is becoming popular every day.

[dothebeats]

We might never achieve what Paypal did since we still lack consensus up until now. Heck, we can't even decide when to move forward and how would we do it. Unless we can come up with a rather viable and attainable solution for scalability then we 'might' at the least achieve half of what Paypal could do

[richardsNY]

We might never achieve what Paypal did since we still lack consensus up until now. Heck, we can't even decide when to move forward and how would we do it. Unless we can come up with a rather viable and attainable solution for scalability then we 'might' at the least achieve half of what Paypal could do

I think the scalability factor is just one aspect, I support Segwit in that regard, but even that isn't enough to come even close to what PayPal is offering to its users. Lightning Network would be a welcome implementation that will make sure Bitcoin can offer people a far better currency solution. But then again, consensus is the main point of attention when it comes to forcing through whatever implementation. More headache....

[dearbesz1219]

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. 

Yes it is, in fact Bitcoin already surpassed and overtake the Paypal already. There are many instances why bitcoin overtake it, in terms of the features of bitcoin and its usage too. Because of that matter many community in different places in the country are getting interest to try and to use what bitcoin really is.

[Velkro]

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

Keeping in mind bitcoin distrubuted architecture. It can't outscale Paypal, but it can outscale GOLD.
Which is better? I think outscalling gold so all is fine by me.

[bitbob82]

We might never achieve what Paypal did since we still lack consensus up until now. Heck, we can't even decide when to move forward and how would we do it. Unless we can come up with a rather viable and attainable solution for scalability then we 'might' at the least achieve half of what Paypal could do

yes there is no doubt that that paypal is such an old currency but still there are so many drawback in papal, as paypal is not a universal service while bitcoin is a universal currency and  their service is available everywhere.

[justdimin]

Not sure what you mean by overcome because right now also the transactions made by paypal cannot match the transactions made by bitcoins. Almost 1000 transactions per second happen with btc and we all know with PP not so many happen. Though btc cannot overcome PP because some sites and companies only allow paypal payments and they don't allow deposits with bitcoins. Once such sites accept BTC we might overcome paypal.,

Where did you pull 1000 transactions per second from?

He talked about blockchain but yeah I agree that there are not so many transactions every second, because if so many transactions happen in a second I guess it's impossible for miners to get them all confirmed.

Actually paypal is being considered the more volatile currency because it's being accepted by large number of sites. But ask a neutral guy who uses both BTC & Paypal and he would always choose BTC !

[locopao]

BTC still has a long road to go if we are talking payment methods...

The main problem right now is the confirmations that take too long. So it cannot be used as a better payment method over paypal.

As an asset, is a different story, It's pretty sure that will overcome gold real soon, because is easier to save and easier to exchange.

[Abiky]

Yeah bitcoin works differently from bitcoin because there are no miners that will confirm the transaction and there is no delay, Paypal transaction are instant and there are millions of transaction being made every day and I like paypal for this.

But the limit and some other fees that paypal takes it's their downside which in this aspect bitcoin is much better and can overcome PayPal anytime soon but there should be more changes in bitcoin like increasing the block size.

Well, both payment processors have their advantages and disadvantages. Whereas you could generate your own Bitcoin, and hold them for the long term, giving you control of your money, with PayPal you gain wider acceptance from businesses and merchants worldwide. I believe that if Bitcoin grows in capacity, then its worldwide acceptance would increase and we might expect it to increase in value. But until that happens, I think that it may take a long time before the pioneer cryptocurrency could overcome traditional payment processors like PayPal and Visa.

I'm hoping that if Bitcoin Unlimited gets the majority of the consensus from the miners, then there would be virtually no fixed block size limit, allowing BTC to scale at greater heights than with any of the previously proposed solutions like SegWit.

Keeping in mind bitcoin distrubuted architecture. It can't outscale Paypal, but it can outscale GOLD.
Which is better? I think outscalling gold so all is fine by me.

Yes. It feels great to have a hold of digital gold, where you can transfer it at any point in the world. The fact that Bitcoin has outperformed Gold in value, means that it is a good sign to help attract even more people into the digital currency. But still, if Bitcoin would aim to become used by lots of people in the mainstream world then it would definitely need to employ scalable solutions fast, before it’s too late. The rising transaction fees and slower confirmation times making it quite troublesome for users that don't like to wait that much (not to mention paying a higher fee just to speed up TX confirmation time.)

If Bitcoin remains as is, then I believe that people will start looking into other alternatives like Dash and Litecoin to process their everyday transactions. Just my opinion. 

[Monnt]

Bitcoin is different than PayPal so it is like comparing Apples to Oranges when it we're discussing about spending our own money on something. From what I know about PayPal is that they need to have another source in order to get their money. Bitcoin is basically like free money because if someone that knows how to make computers more powerful than it already is, they could build a Bitcoin Miner and get money from Mining Bitcoins and they would get whatever currency they want (PayPal doesn't have that feature).

Bitcoin won't overcome PayPal though Bitcoin will be a popular Digital Payment Platform.

You are right - you do not need to compare these payment systems. Bitcoin is more than a payment system. I am sure that they fulfill their functions and will exist in the future

And actually bitcoins has dominated paypal as a payment method. I am not talking in terms of being accepted by more merchants but actually see this way, suppose you need paypal for bitcoins then everyone would happily give, while doing the opposite is almost impossible unless you are too trusted and ready to pay high fee.

[bitllionaire]

Bitcoin is different than PayPal so it is like comparing Apples to Oranges when it we're discussing about spending our own money on something. From what I know about PayPal is that they need to have another source in order to get their money. Bitcoin is basically like free money because if someone that knows how to make computers more powerful than it already is, they could build a Bitcoin Miner and get money from Mining Bitcoins and they would get whatever currency they want (PayPal doesn't have that feature).

Bitcoin won't overcome PayPal though Bitcoin will be a popular Digital Payment Platform.

You are right - you do not need to compare these payment systems. Bitcoin is more than a payment system. I am sure that they fulfill their functions and will exist in the future

And actually bitcoins has dominated paypal as a payment method. I am not talking in terms of being accepted by more merchants but actually see this way, suppose you need paypal for bitcoins then everyone would happily give, while doing the opposite is almost impossible unless you are too trusted and ready to pay high fee.

although in previous time when bitcoin was not so much introduce in such time paypal was the one way of transacting money, but now as bitcoin is introducing more and more so bitcoin is becoming the number payment method becoming more and more popular more than paypal. i think in future people will give more and more preference to bitcoin even the big shops will then provide he opportunity to the people to use bitcoin is the the payment methods. i think some countries have already accepting bitcoin for payment method.

[markyminer]

We might never achieve what Paypal did since we still lack consensus up until now. Heck, we can't even decide when to move forward and how would we do it. Unless we can come up with a rather viable and attainable solution for scalability then we 'might' at the least achieve half of what Paypal could do

yes there is no doubt that that paypal is such an old currency but still there are so many drawback in papal, as paypal is not a universal service while bitcoin is a universal currency and  their service is available everywhere.

paypal is not a currency, it is just the medium of transferring your money from one place to another. while bitcoin is a currency that can be use like other fiat currency in different online as well as in some offline shops.

[Silberman]

Bitcoin is different than PayPal so it is like comparing Apples to Oranges when it we're discussing about spending our own money on something. From what I know about PayPal is that they need to have another source in order to get their money. Bitcoin is basically like free money because if someone that knows how to make computers more powerful than it already is, they could build a Bitcoin Miner and get money from Mining Bitcoins and they would get whatever currency they want (PayPal doesn't have that feature).

Bitcoin won't overcome PayPal though Bitcoin will be a popular Digital Payment Platform.

You cannot go to your garage and make a computer, very few people could and even if you could it will be very slow compared with what we have now, computer are being designed with the help of computers now, so there is no way a human can do it by himself at this time.

[SHAWN-MIDWAYS]

bitcoin is still a work in progress that needs polishing up to go up against a well established paypal

and imo bitcoin will not over take paypal because these are 2 different products with related attributes which can not displace the other...but rather co-exist.

[Rinder]

Well looks like we are using already paypal if we take into considerationt he high fees we are being forced to pay to let our transactions get confirmed, something paypal doesnt require. Bitcoin is far away to reach bitcoin, because even with bigger volume of trading at bitcoin its in the general users buying and selling bitcoin not buying and selling products.

[deppil]

bitcoin is still a work in progress that needs polishing up to go up against a well established paypal

and imo bitcoin will not over take paypal because these are 2 different products with related attributes which can not displace the other...but rather co-exist.

I think as both bitcoin payment option and PayPal compete for users?
bitcoin is in the process to be easy and simple payment options without the need for verification or the like

[tabas]

bitcoin is still a work in progress that needs polishing up to go up against a well established paypal

and imo bitcoin will not over take paypal because these are 2 different products with related attributes which can not displace the other...but rather co-exist.

It will never take over PayPal but it can over come PayPal. Since there are people that are being abused with their charged backs and reversed transaction. Those people hated it will try to adopt bitcoin and besides, I can see that Paypal will simply adopt bitcoin instead just to attract more people that will use bitcoin and their service.

[Qunenin]

bitcoin is still a work in progress that needs polishing up to go up against a well established paypal

and imo bitcoin will not over take paypal because these are 2 different products with related attributes which can not displace the other...but rather co-exist.

I guess you have the point, paypal is totally established well and in a long run already unlike bitcoin, tho we can see the big advantage of using bitcoin but well do everyone accept bitcoin like paypal does? We used paypal before when bitcoin does not exist yet. We just find it easy using bitcoin than paypal, but they are totally different to compared with.

[bhadz]

Well looks like we are using already paypal if we take into considerationt he high fees we are being forced to pay to let our transactions get confirmed, something paypal doesnt require. Bitcoin is far away to reach bitcoin, because even with bigger volume of trading at bitcoin its in the general users buying and selling bitcoin not buying and selling products.

Maybe you are trying to say that bitcoin is far away to reach PayPal. And the fact that bitcoin is still on it's way on overcoming PayPal. Most of the people that are living on internet will always depend on PayPal as it offers transfer to bank service. And in bitcoin, we need to use exchange for it before converting it to fiat.