Will Bitcoin overcome Paypal?

[mundang]

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 ,bitcoin already overcome paypal.,before bitcoin is not that known as paypal when it comes to purchasing and using it as payment option, but now users left paypal and stick to bitcoin because of its anonymous and flexibility when purchasing online.

[OrangeII]

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 ,bitcoin already overcome paypal.,before bitcoin is not that known as paypal when it comes to purchasing and using it as payment option, but now users left paypal and stick to bitcoin because of its anonymous and flexibility when purchasing online.

But most people are not yet aware of it, as most lay people still look at bitcoin with one eye. They think that paypal is better, because it has a strong security system, and has been trusted. I guess that's just because they are not familiar with bitcoin any further.

[ipungadhi]

bitcoin is a crypto
paypal is a wallet service regulated by us government

you can compare paypal with other service like bitpay.

Simple if bitcoin skyrocketed service like bitpay will become a very popular service and will probably beat paypal?
Everything starts from bitcoin, if bitpay does not transfer paypal. There are many other wallets that can beat paypal. If bitcoin skyrocketed

[CARrency]

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. 

I think it will, It is a dream for every bitcoin user, the problem is just scaling and making a good, cheap and fast transaction. But if that is not a problem in the future, Bitcoin is a good payment all over the world and many people will be using these digital currency, not only will users will be using it, but most of the stores will be accepting it.

[mike1183]

I'm not sure about overcoming FIAT as a whole, but overcoming PayPal isn't impossible at all, currently the number of BTC users is equal or larger than PayPal, The marketcap, number of TX's and total TX per week/month is approaching PayPal, I think BTC will replace PayPal in a year or two.

[ScorpionKing]

Well, I know, since I know the online business, it is very difficult to get paypal, since nobody using it to Pay for online tasks and deals but, when known about bitcoin , I can produce it even if it was only from the faucet. Well, that explains a little advantage that bitcoin than paypal

[NEWGOODOUBLE]

Paypal will be hard to compete with bitcoin because bitcoin is becoming more and more popular especially in the investment community. They see bitcoin as the most suitable tool for business purpose and paypal is a governmental organization that if you want to withdrawn a large amount of money you must have clear evidence to verify that transaction

I thought it might just happen bitcoin made paypal an unused service. See many paypal users who migrate to bitcoin to use as quick and simple remittances

[imeetup]

There's one problem with bitcoin. sometimes absolute freedom is too much freedom. People need to feel "safe" about their money, even if it is just an illusion. Banks, Paypal, etc give people that safety. Bitcoin on the other hand, where every single transaction is final and there's no central authority, makes most people a little uncomfortable.

Yes, the chargeback option that banks offer through credit cards is one that BTC can't offer in case of a undelivered product or other issue with the sale. Potentially this could be overcome by some kind of consumer escrow function.  It would likely not be handled in a decentralized manner.

 

 

[franklin9]

My guess would be yes, I think BTC is already moving in the direction of overcoming PayPal and the traditional e-payment systems like Skrill and NET. The total market cap, number of tx's and total transacted is already approaching PayPal's figures, particularly with the increased BTC popularity in 2017.

[Abiky]

I think it will, It is a dream for every bitcoin user, the problem is just scaling and making a good, cheap and fast transaction. But if that is not a problem in the future, Bitcoin is a good payment all over the world and many people will be using these digital currency, not only will users will be using it, but most of the stores will be accepting it.

Agree. Digital currencies are the way of the future, thus the technology involving the blockchain and their scalability will become improved as time passes by. I believe that Bitcoin will remain as the top cryptocurrency in all areas such as security, stability and high market cap ratings.

But, whenever Bitcoin would implement a scalable solution in the future, is up to debate since at this point it has been difficult for it to reach consensus. The bright side is, that even if the pioneer cryptocurrency doesn't scale, it will remain as digital gold while other alternatives become used as digital cash.

Thus, the more cryptocurrencies become popular among every day people, the more it would become accepted in the mainstream world, handling our daily transactions. I envision a cashless society where governments would issue their own digital currencies, either via a public blockchain or on their own private blockchain.

Nevertheless, I'm really sure that cryptocurrencies will become a big rival against traditional payment processors like PayPal, leaving these centralized payment solutions with no choice but to adopt this new way of making payments with no middlemen involved. Just sharing my thoughts. 

[hulla]

They have no competition between them instead they can be a solid partnership becoz paypal is just storehouse of many currency so it's possible that bitcoin in the future will be part of it but from now they are different to make them compete with each other i can say that bitcoin is a type of money and paypal is type of wallet

Paypal is serves as an online money transfers and electronic alternative to traditional paper methods like checks etc. While Bitcoin is cryptocurrency but also serves as an electronic payment system. Therefore they are both serve as means of payment and this is the only thing which make me considered them both as the same. If Paypal didn't sign bitcoin into their system then people will use Bitcoin in the future and quit Paypal.

[batang_bitcoin]

My guess would be yes, I think BTC is already moving in the direction of overcoming PayPal and the traditional e-payment systems like Skrill and NET. The total market cap, number of tx's and total transacted is already approaching PayPal's figures, particularly with the increased BTC popularity in 2017.

My guess will be the same as yours but I'm seeing a little bit of twist when PayPal starts to see that they will be override by bitcoin, they will adopt bitcoin very soon. And in that case they will not be left behind and their service is not going to be forgotten by most of the freelancers and other employers who are using them.

[CasinoRoyal.one]

I do hope that one day Bitcoin surpasses Paypal, I have had many a run in years ago with their arbitrary rules and ebay is a no go area these days due to Paypal always siding with the buyer it seems even when you can prove your case.

[KennyR]

They have no competition between them instead they can be a solid partnership becoz paypal is just storehouse of many currency so it's possible that bitcoin in the future will be part of it but from now they are different to make them compete with each other i can say that bitcoin is a type of money and paypal is type of wallet

Paypal is serves as an online money transfers and electronic alternative to traditional paper methods like checks etc. While Bitcoin is cryptocurrency but also serves as an electronic payment system. Therefore they are both serve as means of payment and this is the only thing which make me considered them both as the same. If Paypal didn't sign bitcoin into their system then people will use Bitcoin in the future and quit Paypal.

Both helpful in the transaction processing, but different mechanisms were used based on the development. Bitcoin stands one step ahead of PayPal due to the multiple services rendered through it starting from faucets to investment opportunity. In future we can see PayPal adding bitcoin to its transaction service to make PayPal more popular.

[BtcoinSpider]

YES, it's already sending red signal to Uncle PP because of it's conveniency,low fee's ..ecc

Any established seller who has tested both (paypal & bitcoin) will never go back to paypal

Thanks

[slaman29]

Nothing wrong with comparing Bitcoin to Paypal... if the right "aspects" are used. It is already very close to matching market cap and will maybe reach it this year, of course not everyone agrees that market cap is a good thing to compare.

But Bitcoin is still so far behind with merchant use, not to mention transaction time. This is what is still the big gap for crypto.

[gamerz29]

We cannot say if yes or not but for me i think yes because so many people or users use bitcoin and it so convenient when paypal and bitcoin is combined.

[Kompodd]

We cannot say if yes or not but for me i think yes because so many people or users use bitcoin and it so convenient when paypal and bitcoin is combined.

True, Bitcoin and PayPal are combined and can not be compared. They will exist both, because they are two different directions.

[stompix]

YES, it's already sending red signal to Uncle PP because of it's conveniency,low fee's ..ecc

Any established seller who has tested both (paypal & bitcoin) will never go back to paypal

Thanks

Just like any buyer won't be touching bitcoin without an escrow.
See the scam accusation section.

Paypal is good for buyers and bitcoin for sellers.
And about the low fees... let's talk after august (I hope) the first.

Nothing wrong with comparing Bitcoin to Paypal... if the right "aspects" are used. It is already very close to matching market cap and will maybe reach it this year, of course not everyone agrees that market cap is a good thing to compare.

But Bitcoin is still so far behind with merchant use, not to mention transaction time. This is what is still the big gap for crypto.

Actually everything is wrong with it.
Paypal market cap? What's that? How do you even calculate it?

[halych]

We cannot say if yes or not but for me i think yes because so many people or users use bitcoin and it so convenient when paypal and bitcoin is combined.

True, Bitcoin and PayPal are combined and can not be compared. They will exist both, because they are two different directions.

I agree with you. Bitcoin does not need to be compared to any payment system. It is unique. PayPal is for Fiat and will always serve Fiat. They have different functions. Now if in PayPal it would be possible to open a purse in bitcoins, it would be possible to compare