Will Bitcoin overcome Paypal?

[wizdub]

Yes it is possible and probably happen, I think fast transaction is not important as well. Decentralization is the best thing. Hate paypal!

[NEWGOODOUBLE]

I think Bitcoin has the potential to overwhelm paypal but there are two things I'm not sure about Bitcoin that are unstable prices and too long transaction time.

Too long transaction times are already a non-issue when accepting zero-confirmation payments.

I think zero confirmation payments system is very risky to apply, I do not think online shops would dare use the system because they might be cheated when using zero confrimation payments system, One that makes bitcoin still can not beat paypal is because of this

[CrewKitten]

Will Bitcoin overcome PayPal? No one knows...

CAN Bitcoin overcome PayPal? Most certainly!

[DoublerHunter]

Actuallt the transaction fees of bitcoin is high and maybe Paypal is better nowadays in this point, and also still the great marketplaces supporting only Paypal as payment processor and not supporting bitcoin.

Haven't thought of this until I realised I needed more fee to send a tiny bit of $3 to a wallet, in a case of needed fee there.

I've got a transaction and the fee is only $0.14 and that's very low on these days. What wallets are you using? I'm using blockchain.info and it's a good thing for those people that doesn't want to pay higher fees. And this is a regular fee but if you wanted to be prioritize just increase the fees per b for faster confirmation.

That is great that you are having only $0.14 of fees in every transaction while others are having $2 fees on their transaction like me, i am using electrum and i am facing $2 fees always and that is a very huge amount for me but i can't do anything but to just obey and pay the fees. I hope this incoming august 1, the fees will be lowered so i can save a few bucks from paying the fees.

[magmar]

Ive voted "Yes" on the options because i could really see the potential of bitcoin regarding on online payments and if people would find out bitcoin benefits related to this transactions then they would surely change their mind but for now people still use paypal and ebay because these are the things are being used since from the start thats why they would hardly switch easily to bitcoin and also everybody still didnt know about it.

I also votes yes because bitcoin is pretty easy to use than paypal and other online payments. Others needs a lot of verification that a teen can't fill up. And the fees of bitcoin is good very low than others. I can say that when they found out about this, they will surely switch into these. Or maybe not because other people do not trust the new discovery, they always prefer the old and i can say traditional way. But once they noe the benefits of it, they would probably change their minds.

[Vohoanghiep]

About the legal fact, Bitcoin can not overcome paypal at this point. Paypal is controlled by financial organizations of the government . It's like an online midde bank for purchase and payment and it helps buyers and sellers to be safe with all transaction online. Bitcoin is not still accepted by government so that bitcoin transactions are considered as illegal transactions . I expect someday, Bitcoin will be accepted by government and I'm sure bitcoin can overcome paypal in the future.

Your answer is correct!
At the present time, Bitcoin can not overtake PayPal because PayPal is managed by a government financial institution. Bitcoin, if it is managed, will lose the essence of Bitcoin. So in the future we need more solutions to overcome many weaknesses of Bitcoin to help it grow stronger and stronger.

[Warry]

Hm... In my opinion, Bitcoin won't over come Paypal because Bitcoin has a lot of disavantages that can not be compared to Paypal. Maybe some day, other curency will overcome Paypal but for sure, not Bitcoin.

[stompix]

https://www.cryptocoinsnews.com/paypal-planning-instant-bank-transfers-fee/


25 cents fee for instant bank transfers. WTF will need Bitcoin or any other e-currency except those who are using them for black market and ponzi schemes    

Wow, they just brought the big guns into the battle.
And probably not because of cryptos and just a response to other payment gateways and projects like circle.

25 cents instant bank transfers is insane.
This is something that you just can't match with coins no matter how you try.

[killerfrost]

I do not think we need to answer this question in the present, bitcoin is growing extremely powerful, its value over gold, now it is the biggest value coin. Clearly, bitcoin can outperform any other currency.

[mayax]

I do not think we need to answer this question in the present, bitcoin is growing extremely powerful, its value over gold, now it is the biggest value coin. Clearly, bitcoin can outperform any other currency.

BTC doesn't exist. Gold exists, you can buy it, touch it, grave it, lick it...do it whatever you want. BTC is a hologram backed on nothing.

[Mia Wallace]

No zero payment cannot be arrange, trade in small goods for bitcoins. If bitcoin aspires to the title of leader among the world currencies this issue still have to solve it. Not everyone can afford to buy with bitcoins a car or a house.

If you are using bitcoin as the primary source of income and if you are having the trust to invest in it for the long time or you have already invested in it ,then you will have the ability to purchase anything with bitcoin. If the scaling happens then we could see bitcoin over coming visa transfer ,let alone paypal.

[cengsuwuei]

this now volume transaction bitcoin above paypal
if need above paypal about online store, bitcoin need regulated , need USA country regulated can accepted all online store

[richardsNY]

Zero confirmation payment is impossible to implement. Because when you use blockchain you can just use double spend.

So just because people have the ability to perform a double spend, it's impossible to accept zero confirmation transactions? What a logic....

So the confirmation is unlikely to come then the amount of bitcoin back to the sender wallet. Using zero payment system is at risk to apply

First of all, most merchants make use of a third party payment processor. In some cases merchants can choose to allow transactions to be accepted without confirmations, but that's only the case when the transaction in question has a proper fee included. If you think you can troll their system by including a tiny fee so you could later perform a double spend, then you'll just need to wait for your transaction to confirm, otherwise it won't get accepted.

[Anegg]

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 voted maybe, since Bitcoin definelty has the potential to overcome PayPal and become mainstream. In fact, Bitcoin has more advantages over PayPal. But the thing is, a lot of people are heavy users off PayPal, and you could argue using PayPal would be easier than Bitcoin. Since there so many people who are using PayPal regularly, it would be used to overcome that hurdle and transfer all the PayPal customers to Bitcoin.

I think what we really need for Bitcoin to grow into its final form, is for it to recieve even more media attention. The Japan incident was nice but we need more more countries to accept Bitcoin for it to become mainstream and overtake paypal

[Vikingr]

I think Bitcoin has the potential to overwhelm paypal but there are two things I'm not sure about Bitcoin that are unstable prices and too long transaction time.

Too long transaction times are already a non-issue when accepting zero-confirmation payments.

And nowadays even the first confirmation is not a problem because nowadays the first confirmation is completed within a few minutes and when first confirmation occur we can get our target. Some transaction accelerators are also beneficial in that case.

[mornabo]

I think Bitcoin has the potential to overwhelm paypal but there are two things I'm not sure about Bitcoin that are unstable prices and too long transaction time.

Too long transaction times are already a non-issue when accepting zero-confirmation payments.

And nowadays even the first confirmation is not a problem because nowadays the first confirmation is completed within a few minutes and when first confirmation occur we can get our target. Some transaction accelerators are also beneficial in that case.

Of course the confirmation is still a problem, you will not receive your transaction successfully when not get one confirmation This time if you want to get a confirmation quickly of course you have to pay fee fee is more expensive than 10k satoshi of course it will be very disappointing

[UCHCHILD]

So for me it is a Yes, I can see the full potential of bitcoin over paypal since bitcoin is more accessible than paypal in own expereince I can manage more bitcoin than paypal like just using my cellular phone to access and get some money in just few moves unlike paypal there are many things to get over before having transactions like emailing. Bitcoin is good enough than paypal despite the fact that it has its problem this past months regarfing transaction confirmation still it is now okay.

[The_Dark_Knight]

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. 

Bitcoin and Paypal are not even on the same league, paypal is not really a contender to bitcoin, paypal is just a settlement service while bitcoin is full currency, bitcoin is going to destroy paypal as it gets more user acceptance as the time goes on.

[calandra78]

I think that this is possible but right now we are maybe not super close to that but I think in the future there is no doubt that it can do this.

i also agee with you that very soon bitcoin is going to overcome paypal as the bitcoin users are increasing too much while the number of paypal users are decreasing, because of their harsh policies.

I also agree that chances are it probably could have happened either today, tomorrow, or even the future. I am also as users felt it was a lot of bitcoin use it compared to paypal users. Perhaps it is due to the existence of a policy of harsh policies that they apply. with bitcoin we get better profits than when we use paypal so most likely will be beat bitcoin paypal paypal may even be lost.

[Abiky]

Defenitely for anyone who doesn't like putting their ID on the internet, like me! It's awesome how Bitcoin is for all ages, whilst Paypal limits itself to 18+ and just steals money from the people below 18 (freezes their account A.K.A. taking their money).
I think more people will start to realise the discrimination Paypal is pulling off, so they will start to use Bitcoin and Bitcoin will be the new overpopulated paradise?

Regards,
Trump

Well, PayPal is regulated unlike Bitcoin, making it require ID verification to prevent criminal activity such as money laundering. But, with Bitcoin you don't need to verify yourself to send/receive money.

I think this is one of the many advantages that Bitcoin has over PayPal allowing anyone to quickly start their own business with it, and even send money to anyone in the world no matter their age. Thus, even a kid can start using Bitcoin to buy stuff at merchants who accept it as payment, as well as send money to others without all the process of ID verification.

With this in mind, Bitcoin would surely attract more people into it, since it would be the digital cash of the internet allowing anyone to transact freely in a rapidly evolving world. Just like physical fiat currencies where there is no verification required to use it, Bitcoin provides this and many other advantages making it quite an attractive "payments processor".

Nevertheless, if everyone starts using Bitcoin more than PayPal, then it would likely become the most popular way to handle payments in a decentralized fashion, taking PayPal's place as one of the best payment processors for merchants. Just my thoughts.