Will Bitcoin overcome Paypal?

[unusualfacts30]

Yes, I can't remember the last time I used Paypal. They charged me crap ton of fees in the past, I haven't used it ever since. I think Bitcoin can easily replace Paypal once adoption is simple. Currently, using bitcoin is not as simple as I would like it to be. soon.

[stompix]

bitcoin currency and paypal arr belong into different field. we use bitcoin as virtual crypto currency payment and paypal is in a common or traditional payment. so in the next 10yrs or decade paypal will still be the up over bitcoin.

I think the main point is, we have to admit marketcap currently paypal marketcap is still greater than the bitcoin and I bet 5 years longer bitcoin will overcome paypal.

Paypal has no market cap. Paypal is not an Altcoin and for god knows what time again in 45 pages the two are tow different beast.

The most simple way to understand why bitcoin will not overthrow paypal is to take a look at bitpay.
Well? We have a paypal clone here that is doing a perfect job living alongside bitcoin.

[ArnoldChippy]

Maybe so far Paypal establish a good reputation and Market , Once all force of bitcoin organization does a project like Paypal i definitely say yes no doubt. Bitcoin has strong magnet to people. except for the the higher fee on each transaction....

and that is the reason that bitcoin is still surviving, although bitcoin is also now becoming more popular as payment method, now people are giving more preference to bitcoin for payment method, but there are so many people who are still using paypal for payment method.

[bncbnc]

Yes, I can't remember the last time I used Paypal. They charged me crap ton of fees in the past, I haven't used it ever since. I think Bitcoin can easily replace Paypal once adoption is simple. Currently, using bitcoin is not as simple as I would like it to be. soon.

i personally never use paypal and in fact cannot use it, because their service is not available in my county, in very beginning it was not so easy for me to purchase something from online shops but now after introducing bitcoin it has become too much easy for me to use bitcoin for shopping online, i am sure that those people who know about bitcoin they have converted their payment method from paypal to bitcoin.

[Abiky]

Yes, I can't remember the last time I used Paypal. They charged me crap ton of fees in the past, I haven't used it ever since. I think Bitcoin can easily replace Paypal once adoption is simple. Currently, using bitcoin is not as simple as I would like it to be. soon.

Yeah. PayPal and other similar payment processors charge high fees (not to mention that they're centralized too which are prone to manipulation, among other things) making them inconvenient for everyday use. On the contrary, Bitcoin provides a safe haven for anyone to join in, and secure their funds without the need to worry about intermediaries or freezing of funds.

While Bitcoin's fees are higher than what they used to be before, it is still comparatively low against traditional payment processors we use to know. I believe that someday Bitcoin will reach up to the point where it becomes widely recognized in the mainstream world, as well as an improved system where it could handle high transaction load while preserving decentralization.

When that day comes, PayPal, Western Union, MoneyGram and others would be rendered obsolete and Bitcoin will prevail. Just my opinion.

[Rifat989]

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 one day bitcoin will overcome paypal.

[Sowik]

People would rather use PayPal AND Bitcoin. Why would stores leave PayPal just for Bitcoin? I see both only growing.

[ph111]

Sure, Bitcoin is much better

[Jody.Drummer]

Yes ... because bitcoin can make everything much easier than what has been there from now on.

[Abiky]

People would rather use PayPal AND Bitcoin. Why would stores leave PayPal just for Bitcoin? I see both only growing.

Maybe. If PayPal decides to adopt Bitcoin, then they would grow together. However, if PayPal remains as is, people would prefer more to use Bitcoin as it provides cheaper fees, global payments, no ID verification, among other advantages. Also, it gives merchants the power to control their money, unlike PayPal which is centralized.

Thus, if Bitcoin continues to improve over time and scales as its utmost priority, it will gain traction and acceptance from the mainstream world. I can see OpenBazaar and Bitcoin as true rivals of both eBay and PayPal. It would only be a matter of time before one or the other prevails. Just my thoughts.

[suzanne5223]

Maybe so far Paypal establish a good reputation and Market , Once all force of bitcoin organization does a project like Paypal i definitely say yes no doubt. Bitcoin has strong magnet to people. except for the the higher fee on each transaction....

Yes agree and don't seem to take a long time to defeat marketcap paypal, one thing becomes the power of paypal is they were accepted the banks and work closely with the credit card provider.

Yes,you're right and paypal been accepted by banks which is the main power paypal had over bitcoin is been achieve by bitcoin in countries like Japan, Canada, South africa and others. What we need to out in place the part of virus/hacker,bitcoin critic, high transaction fee/tax and the government in other the best result.

[bitcoin199]

Almost certain of that, considering the growth potential and current growth rate, I see them replacing and taking over PayPal "which has been static in rates and vaues for years, from the time of it's initial popularity. The growth of BTC would reach that level at around 1-2 years imo.

[linkme]

Only by using Bitcoin more frequently can Bitcoin community grow up because Bitcoin price will rise more rapidly when people need Bitcoin so much

[nod]

Had bitcoin lowerened its fees, Bitcoin would have been used more frequently so that it can have overcomed Paypal

[NEWGOODOUBLE]

bitcoin currency and paypal arr belong into different field. we use bitcoin as virtual crypto currency payment and paypal is in a common or traditional payment. so in the next 10yrs or decade paypal will still be the up over bitcoin.

I think the main point is, we have to admit marketcap currently paypal marketcap is still greater than the bitcoin and I bet 5 years longer bitcoin will overcome paypal.

You can say bitcoin and paypal differently. But what about users, what if many of them prefer bitcoin for payment and send money compared with paypal? Of course bitcoin can beat paypal?

[Abiky]

Had bitcoin lowerened its fees, Bitcoin would have been used more frequently so that it can have overcomed Paypal

Completely agree with you, mate. The increasing fees of Bitcoin is preventing it from becoming used widely as digital cash in the mainstream world. It is ideal as a store of value, but not as digital money since it is slow in transaction confirmation times, along with the aforementioned fees.

Thus, people would prefer faster payments even if they have to use centralized services like PayPal. It is a matter of convenience, where payment systems which could provide stability, scalability, and fast settlement are the ones that could prevail.

Nevertheless, if Bitcoin keeps rising in fee cost, then it could no longer overcome PayPal but instead another cryptocurrency like Litecoin, Ethereum, or Dash might do so. Just my opinion.

[just a man]

Had bitcoin lowerened its fees, Bitcoin would have been used more frequently so that it can have overcomed Paypal

I don't really send Bitcoin that much to people since the price of Bitcoin is increasing in price. PayPal has a high fee when sending transactions while  Bitcoin has a much lower fee if we compared the two. I would use Bitcoin to send payments because PayPal is not worth trusting.

[radamiel]

Bitcoin can be overcome Paypal, very capable, bitcoin has many advantages over paypal, I think paypal is too complicated, while bitcoin is very simple, just send and finish. Simple and fast, i really like to use bitcoin rather than paypal

[k@suy]

Bitcoin can be overcome Paypal, very capable, bitcoin has many advantages over paypal, I think paypal is too complicated, while bitcoin is very simple, just send and finish. Simple and fast, i really like to use bitcoin rather than paypal

Very possible but not now since bitcoin is about to get mainstream. Paypal is already established while bitcoin is gaining ground yet. Lets give more years and bitcoin will become mainstream and even shake the financial world. Its already started as we speak as far as I know.

[mornabo]

bitcoin currency and paypal arr belong into different field. we use bitcoin as virtual crypto currency payment and paypal is in a common or traditional payment. so in the next 10yrs or decade paypal will still be the up over bitcoin.

I think the main point is, we have to admit marketcap currently paypal marketcap is still greater than the bitcoin and I bet 5 years longer bitcoin will overcome paypal.

Of course bitcoin marketcap will be higher than paypal. See bitcoin users keep coming and it will make the volume and marketcap continue to rise and I'm sure someday. Maybe a few years to come. Bitcoin marketcap can beat paypal