Will Bitcoin overcome Paypal?

[Qunenin]

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.

It is not that far away to reach paypal, what I mean is paypal reaches to much to compared to bitcoin.
We can see how the transaction goes with paypal and so to bitcoin we can see the advancement and how bitcoin conquer the users of paypal.

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[kingstarblack]

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.

Nevertheless. We can still gain a greater advantage of paypal. Try to imagine about the price of the bitcoin can penetrate the figures above $1 k in the not for long, while paypal is it can do it. ..?? . Yeah indeed paypal is a digital currency is hanging or just media copywriting money that people have a real world whereas bitcoin is a digital currency and does not depend on any other currency.
 

[mastermold]

In future Bitcoin may overcome Paypal due to following reasons:
1. Security - Bitcoin's core is cryptography. The payment method has no databases or accounts that can be hacked.

2. Merchants - Services like Bit-Pay make accepting Bitcoin's rather easy as it allows for funds to be exchanged for domestic currency so exposure to exchange rate fluctuations is minimal.

On top of that, as Bitcoin is essentially a form of digital cash there is no way, as with traditional bank accounts/Paypal etc, that funds can be frozen and payments can be blocked. Thus reducing the chance of fraud to practically 0

[geopolisch]

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

You are right though it feels bad to hear that. Actually the main problem with bitcoins is that none of the government are supporting or appreciating it for the obvious reason that it's decentralized and hence not in the control of government.

While Paypal runs as per the rules of the government and help them getting taxes so government much more promotes paypal than bitcoins.

[DomainMagnate]

We need escrow for bitcoin too and if we can create some reliable automated decentralized escrow for bitcoin,I think nobody will then use Paypal.
Another problem with bitcoin that needed to be sorted out is increasing delay of confirmation time.

[1Referee]

In future Bitcoin may overcome Paypal due to following reasons:
1. Security - Bitcoin's core is cryptography. The payment method has no databases or accounts that can be hacked.

2. Merchants - Services like Bit-Pay make accepting Bitcoin's rather easy as it allows for funds to be exchanged for domestic currency so exposure to exchange rate fluctuations is minimal.

On top of that, as Bitcoin is essentially a form of digital cash there is no way, as with traditional bank accounts/Paypal etc, that funds can be frozen and payments can be blocked. Thus reducing the chance of fraud to practically 0

1. The average people don't really care about the technological aspects of Bitcoin. Only form of importance is; It must perform equally as good as fiat is doing (preferably better in case you want to convince people to adopt Bitcoin), and with Bitcoin that isn't the case. I doubt it ever will without the right implementations.

2. Services such as BitPay indeed allow merchants to accept Bitcoin as form of payment without being exposed to the volatility, but the problem is that there is barely any real world usage (in form of people spending their coins). Merchants don't have any real incentive to accept Bitcoin as form of payment. Look at PayPal for example, merchants don't really like the fact that they are exposed to the risks of people charging back on them, but the wide field of PayPal adoption makes them use it anyway. It's all about the numbers. Bitcoin for the most part is still an investment tool and not really a currency that people find worthy of spending. That must change.

The average people like PayPal because they can spend it basically in every online store instantly, plus they enjoy buyers protection. It gives them a convenient way of conducting payments, plus the security that they can perform a charge back in case they got scammed for example. Despite the dislike towards PayPal among a lot people here, PayPal is doing its job very well.

[DarkIT]

I feel that bitcoin only lost at the reception. Well, not everyone accept bitcoin, but everyone accept, because paypal is highly reliable payment on the internet. Well, when the bitcoin has been reliable, I'm sure paypal would accept bitcoin. it is a sign that bitcoin has exceeded paypal.

[rickadone]

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.

We still don’t know what the future of the bitcoin holds for us, but I think there is potential that it could overcome PayPal, I mean right now with the bitcoin at its early stages has a lot of user base and have a growing number every day, and PayPal when it first started didn’t have this much but it was a new thing and people got interested in it over the time and I think that will be the case with bitcoin.

[PacePay]

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.

According to my views bitcoin is in the way to replace paypal because now every\y earner is trying to adopt bitcoin places to earn their money and only buyers also are searching for the shops which have bitcoin as payment system and paypal is not much better for everyone because paypal is a limited services which some people feel as inconvenience because with that service online services are limited to a few countries.

[carlerha]

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.

to me i think bitcoin has already crossed paypal. those people who were using paypal for payment method so majority of them are now using bitcoin, the online stores are now also accepting bitcoin for shopping online.

[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.

It is not that far away to reach paypal, what I mean is paypal reaches to much to compared to bitcoin.
We can see how the transaction goes with paypal and so to bitcoin we can see the advancement and how bitcoin conquer the users of paypal.

What if I say it is far? PayPal has millions of users and they will keep on sticking to their service. Unless PayPal is going to do something shady then they will look for other service and maybe those people will shift to bitcoins. But as of now, I really can't see that bitcoin will be able to overcome. And another thing is that they are completely different in terms of service and usage except remittance.

[hurain]

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.

According to my views bitcoin is in the way to replace paypal because now every\y earner is trying to adopt bitcoin places to earn their money and only buyers also are searching for the shops which have bitcoin as payment system and paypal is not much better for everyone because paypal is a limited services which some people feel as inconvenience because with that service online services are limited to a few countries.

but to me i think there is no competition between bitcoin and paypal as bitcoin is a currency a online currency which can also be use as fiat in local shops.

[lumeire]

I feel that bitcoin only lost at the reception. Well, not everyone accept bitcoin, but everyone accept, because paypal is highly reliable payment on the internet. Well, when the bitcoin has been reliable, I'm sure paypal would accept bitcoin. it is a sign that bitcoin has exceeded paypal.

The thing is Paypal transfers cost way too much. It really can take a chunk from your business finances. It's something BTCBTCBTC services should capitalize in, if they can provide the same or even better services with the fraction of a cost.

[THEmoro]

paypal just a joke you cant use it without ID / you cant use it without visa- mastercard - bank-account ... long live king btc

[MFahad]

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.

Paypal will co-exists with Bitcoin till the time Bitcoins is not adopted by all. As you can see, those who are adopting bitcoins are leaving the paypal. So Paypal wont stay for long if the situations continues like this.

[catfishftw]

We can't predit but this is kinda impossible paypal offers charge back and so.. But bitcoin is used by most of hackers and darkweb.. So both have their users. It is balanced

[marcuslong]

It always depends on the situation but i voted "YES" their are chance that bitcoin can  overcome paypal since bitcoin already started up using as payment method to several website it can use also to buy game credits not only credits but item also even though paypal is known as the main method of all shopping online all over the world but once bitcoin will known that can do what paypal can. Then people will choose this as they currency bitcoin has a great future someday

[NyeFee]

It always depends on the situation but i voted "YES" their are chance that bitcoin can  overcome paypal since bitcoin already started up using as payment method to several website it can use also to buy game credits not only credits but item also even though paypal is known as the main method of all shopping online all over the world but once bitcoin will known that can do what paypal can. Then people will choose this as they currency bitcoin has a great future someday

People will choose only what is closer to them in understanding and what is available. Bitcoin community is very small, so paypal has every chance of existence.

[BitcoinMarshal]

It always depends on the situation but i voted "YES" their are chance that bitcoin can  overcome paypal since bitcoin already started up using as payment method to several website it can use also to buy game credits not only credits but item also even though paypal is known as the main method of all shopping online all over the world but once bitcoin will known that can do what paypal can. Then people will choose this as they currency bitcoin has a great future someday

People will choose only what is closer to them in understanding and what is available. Bitcoin community is very small, so paypal has every chance of existence.

You are right paypal is working officially and its one of best companies but Bitcoin have no advantages like this just because of this paypal has every chance of existence bitcoin need some understanding

[avikz]

Bitcoin and Paypal can never be compares as both are technically difference from each other. Let me point our few differences first,

1.   Bitcoin can be generated from moning but Paypal can’t generate money by itself. You will have to fund your paypal account using fiat.

2.   Bitcoin is not regulated by anyone but Paypal is regulated by a central authority and micro-managed by various country respective laws.

These two differences show that why Bitcoin can’t be compared with paypal. Bitcoin has changed the course of Internet payment system. But paypal is fairly managed by enforcing agencies which makes paypal worthy of legal transactions only.