Will Bitcoin overcome Paypal?

[quarkyplum]

The increase in the popularity and worth of the bitcoins seems that it can happen. But to make it possible bitcoins need to gain more popularity worldwide. Hope so it will come true.

It will be, as Bitcoin community is becoming bigger, there are a lot of people using Bitcoin.
So that the day when Bitcoin overcomes Paypal is not so long. We can wait

[Wipro]

Paypal cannot be overcome by bitcoins because of the simple reason that 90% of the online e-commerce sites accept paypal as a payment method and hence that plays a vital role. Though a person who knows btc and paypal both would always prefer dealing via bitcoins.

It's because of united states influence over PayPal with international corporates. If PayPal can acquire this place without having ground features bitcoin, then why can't bitcoin to achieve that place. Just silent and notice what will be happen in 5 years, 90% site will accept bitcoin.

[chixka000]

It may sound really ridiculous but  bitcoin seemsto overcome paypal not just on its transacion process but on the fees as well. Yes the only difference is that you can have a freedom in choosing a fee in btc unlike paypal. However you would also going to wait for more than 24hrs which is obviously crazy

[hardtime]

Personally I just don't think I can see it every happening, think about it for a second, can you even think about the biggest online merchant that is pretty much accepted by everyone and anyone in the internet to be taken over by a cryptocurrency that is a volatile as shit and can't agree on a scalability solution? I know some of you are going to come here and tag me as a Bitcoin hater and a bank lover or whatever, but it's not like that in the least. What I am is someone who's a realist, it's someone who can fully see what's going on and is able to understand that with logic people aren't going to go with Bitcoin over Paypal.

Sad, but it won't happen unless drastic measures are taken by BTC devs.

[TryNinja]

It may sound really ridiculous but  bitcoin seemsto overcome paypal not just on its transacion process but on the fees as well. Yes the only difference is that you can have a freedom in choosing a fee in btc unlike paypal. However you would also going to wait for more than 24hrs which is obviously crazy

In what world Bitcoin fees are cheaper then Paypal? The main advantage for using Bitcoin is the decentralization and how a transaction with Bitcoin is irreversible, making it impossible to be scammed by someone after the payment was made, and not it's fees.

Look at a comparison between sending money using Paypal and Bitcoin:

If you send $100 with Paypal, you will have to pay 2.9% + $0.30 in fees, which means that 3.2% (or $3.20) goes for fees.

If you send $100 in Bitcoin with a fee of 450 sat/B (the current price recommended on https://bitcoinfees.21.co which is always rising even more), with only 1 input and 2 outputs (format of most of my transactions) you will have pay ~4 dollars. Now imagine how bigger the fees will be if you use a HD wallet or have a lot of dust transactions.

This without counting that you can send money as "family and friends", which don't charge any fees on your transaction.

[bohr]

For me I think it has already overcome PayPal in terms of trading volumes and even coverage. Bitcoin can be sent to any part of the world with internet access but PayPal is not available in every country and so cannot be accessed by all.

The problem is not really the market cap or the trading volume the issue is the fact that not many people are using bitcoin to buy goods and services the same way people are using paypal, and that is what we mean to surpass paypal.

[_Legendary_]

Marketcap paypal more than 100 millions and bitcoin is currently more than 42 billion transactions per day reached more than hundreds of millions usd, I think it took no more than 10 years to overcome the paypal.

[krishnapramod]

The current fee structure has taken away one of the biggest advantages of bitcoin had over any other online payment service. Bitcoin still have some plus points over PayPal, decentralized, pseydo-anonymous, no chargebacks, more privacy, could be used globally, bank account is optional. But right now merchants who had opted for bitcoin are in a dilemma and merchants who were planning to integrate bitcoin are having second thoughts.

Once the scalability issue has been addressed, bitcoin would get back it's fee advantage, but still if it needs to compete with PayPal it would have to dominate the e-commerce sector. What PayPal is to eBay, bitcoin is to something way bigger than OpenBazaar.

[madwica]

Marketcap paypal more than 100 millions and bitcoin is currently more than 42 billion transactions per day reached more than hundreds of millions usd, I think it took no more than 10 years to overcome the paypal.

I think that also, bitcoin can overcome paypal in a next couple of years due to continuous increasing of bitcoin users and also lots of country starting to adopt bitcoin. But 1 thing users does not want to bitcoin is the higher transaction fee.

[Farcoin12]

I voted yes for the poll and it is great to see that so many people also have the same mindset as me. I fully support Bitcoin and I hope that it does overcome paypal and finally we can be our own banks. If it does overcome paypal, then it will surely become mainstream if it wasn't already.

[Franky00]

I'm not sure that Bitcoin will win PayPal because it is a currency, not a payment system.

[BitcoinMarshal]

I'm not sure that Bitcoin will win PayPal because it is a currency, not a payment system.

Yes you are right its very hard that Bitcoin will win against Paypal because they have some good advantages which is not going with bitcoin and they are payment system nothing else bitcoin is a digital currency

[hajimasan]

There's not many people who would trust PayPal. PayPal and bitcoin are both different concept and they have their own advantages. PayPal is governed my some people and look after by some people and have full control over ones account. On the other hand bitcoin have no such governing bodies on whom the technology would depend it's all anonymous and much secure then paypal and there is no change that the technology would run away at certain instance of time but PayPal might rin away anytime and hackers might hack their system but with bitcoin it's not possible for such incidence so bitcoin will definitely surpass PayPal in this regard.

[Visin]

Paypal cannot be overcome by bitcoins because of the simple reason that 90% of the online e-commerce sites accept paypal as a payment method and hence that plays a vital role. Though a person who knows btc and paypal both would always prefer dealing via bitcoins.

If 90% of the people in the world pay for things with PayPal then PayPal has a very large chance in being the top payment processor for online transactions. People that use Bitcoin will see how well PayPal is performing and will try copying it though I am sure that Bitcoin will fail in doing so.
If PayPal integrates Bitcoin into their PayPal system then Bitcoin will be much more popular than PayPal.

[ModGirl]

Paypal cannot be overcome by bitcoins because of the simple reason that 90% of the online e-commerce sites accept paypal as a payment method and hence that plays a vital role. Though a person who knows btc and paypal both would always prefer dealing via bitcoins.

If 90% of the people in the world pay for things with PayPal then PayPal has a very large chance in being the top payment processor for online transactions. People that use Bitcoin will see how well PayPal is performing and will try copying it though I am sure that Bitcoin will fail in doing so.
If PayPal integrates Bitcoin into their PayPal system then Bitcoin will be much more popular than PayPal.

Yes you are right that many people are using PayPal but it is also true that now many people are adopting Bitcoin and they like to do their deals in Bitcoin and pay for their transactions in Bitcoin. So it mean that PayPal is going down and people prefer to Bitcoin and so it shows that Bitcoin will soon overcome PayPal.

[Ryan Dugan]

I was happy when I found bitcoin. I wanted a way to pay online and I didn't meet the correct requirements because of the banking regulations and it was not so easy to setup to begin with. Bitcoin was the easiest thing in the world to setup.

[just a man]

It may sound really ridiculous but  bitcoin seemsto overcome paypal not just on its transacion process but on the fees as well. Yes the only difference is that you can have a freedom in choosing a fee in btc unlike paypal. However you would also going to wait for more than 24hrs which is obviously crazy

I don’t know, the transaction fees for Bitcoin is getting to the point where it’s getting really expensive to send a transaction without an accelerator to help make the transaction confirmation faster.
If Bitcoin increases up to $100,000 per btc then the transaction fee in most Bitcoin clients will have to be adjusted or it will be expensive to send.

[19Nov16]

I'm sure, bitcoin appp overcome immediately, this is because of the news of the bitcoin's getting massive variety of media (print, newspaper, TV, and seminars), even a week ago first cryptocurrency already in Berlin, Germany.

[lecongnhan123]

I think it can because Bitcoin í a big currency, it works all over the world and Paypal is just a payment system, some countries don't accpet Paypal

[KennyR]

I think it can because Bitcoin í a big currency, it works all over the world and Paypal is just a payment system, some countries don't accpet Paypal

It has got the possibility as well bitcoin provides similar service that PayPal provides. Also the co-founder of PayPal is much interested into bitcoin as it serves more than a payment support services. Can expect bitcoin getting added to the PayPal in the future.