Will Bitcoin overcome Paypal?

[totaleclipseofthebank]

hard to know. Both of them have their own strength and weakness. In somehow, they support each other. I use both bitcoin and paypal and find that it is very comfortable while using these payment methods

[canah17]

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. 

  There is a possibility that bitcoin will overcome Paypal especially the high market price of bitcoin now. Paypal is just kind of storage for you to buy online but bitcoin is not, you can actually earn on bitcoin and double its value in the future but also there are some risks unlike paypal but its the worth of risk. We know that the price of bitcoin now is increasing more and more so we don't think that bitcoin price will decrease. The use of bitcoin is still not all over the world that's why paypal is still ahead now but sooner or later bitcoin will be known all around the world and the process to use bitcoin as a payment all around the world will be a reality will be also the end of Paypal but we don't know our future. So we just gonna wait and see what will happen.

[frowsiter]

Bitcoin already seems to be in that way and have done half of its work. Bitcoin is new generation currency loved by millions of users. Which in first place makes choice of investment plus way of doing yr transaction. PayPal uses other currencies, it is just a medium to perform the transaction while on the other hand bitcoin is itself a currency and it can transaction itself anywhere anytime.

[Abiky]

  There is a possibility that bitcoin will overcome Paypal especially the high market price of bitcoin now. Paypal is just kind of storage for you to buy online but bitcoin is not, you can actually earn on bitcoin and double its value in the future but also there are some risks unlike paypal but its the worth of risk. We know that the price of bitcoin now is increasing more and more so we don't think that bitcoin price will decrease. The use of bitcoin is still not all over the world that's why paypal is still ahead now but sooner or later bitcoin will be known all around the world and the process to use bitcoin as a payment all around the world will be a reality will be also the end of Paypal but we don't know our future. So we just gonna wait and see what will happen.

Agree. With time and due dilligence, Bitcoin can become well known in a rapidly evolving world. It is still in its infancy, but once it becomes mature enough to take its step into the mainstream world, things would change drastically.

When this happens, merchants that once accepted PayPal, would become tempted to use Bitcoin due to its popularity and greater advantages than the latter. Low fees is of utmost importance, and if Bitcoin can deliver this and many more, it will become the top choice for everyday payments instead of traditional payment processors like PayPal.

But as you said, it would be up to wait and see what will happen in the future. In the meantime, we could focus on supporting and spreading the word about Bitcoin to make it closer towards mainstream acceptance. Just my thoughts.

[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

[Hotel_Prodeo]

Currently paypal is still stronger than bitcoin, this is because many of the banks that supported and accepted paypal. Even most sites only accept only paypal, it seemed like it took more than 5 years from now to overcome paypal.

[choppork]

Paypal will always be superior to bitcoin simply because cryptocurrencies can never replace fiat. Bitcoin can become quite popular but a regular guy will never try to touch it because he will automatically think that it's some sort of scam. With all the articles on the Internet that's saying bad things about bitcoin, they are simply confirming that bitcoin is associated with illegal transactions. We can never remove that from bitcoin's reputation.

Paypal is such an easy website to use. You simply connect your bank account and that's it. There's no scaling issues, no transaction time + fee issues. Paypal is just like online banking. You send, and receive money. Bitcoin is pretty much the same but people are too lazy to understand the underlying information that makes bitcoin look complex.

[Vixmore]

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. 

Ok, think about what Paypal actually is:

Paypal is an extended, user friendly version of a normal wired transaction. That is also fast, convenient, easy to use and safe at the same time. However, the problem with it is that it is still connected to a valid bank account or debit/credit card. Therefore, the question that we should be asking is: "Will bitcoin overcome normal currencies?". Bitcoin is basically a version of paypal, but uses a different currency. It offers similar features while it is based off a different network in the background. Its all virtual and decentralised, making it much more dependent on its users. Paypal is nothing more than a middleman that handles money between a seller and a customer, nothing else. It is still based off a normal currency (USD, AUD... etc). Bitcoin is an entirely new network of virtual currency.

[NJB18]

I vote maybe. Right now paypal is leading. We cannot deny that. But the question is one that is directed to the future. I think bitcoin is targeting the spot of paypal and it is going there.

The problems bitcoin is experiencing right now are quite a factor to my vote. Add to it that when it comes to online transactions bitcoin is not accepted by as many shops and the likes as paypal.

The future is still bright though. That's is why maybe bitcoin will be able to overcome paypal in the future.

[Abiky]

Paypal will always be superior to bitcoin simply because cryptocurrencies can never replace fiat. Bitcoin can become quite popular but a regular guy will never try to touch it because he will automatically think that it's some sort of scam. With all the articles on the Internet that's saying bad things about bitcoin, they are simply confirming that bitcoin is associated with illegal transactions. We can never remove that from bitcoin's reputation.

Paypal is such an easy website to use. You simply connect your bank account and that's it. There's no scaling issues, no transaction time + fee issues. Paypal is just like online banking. You send, and receive money. Bitcoin is pretty much the same but people are too lazy to understand the underlying information that makes bitcoin look complex.

That is certainly true, mate. Bitcoin has often been associated with illegal activities, due to things that happened in the past. Those things will never be forgotten, even if Bitcoin continues to rise in the future. One thing that a payments system needs is a good reputation, and user friendliness to achieve mainstream adoption.

While PayPal has been in the scene before Bitcoin, there is a possibility of the pioneer cryptocurrency to become closer to tradtional payment processors. It may co-exist with existing payment solutions for fiat, but may never replace fiat itself. We could combine the goodness of decentralization with Bitcoin, and the convenience of traditional banking with PayPal, to manage our wealth efficiently.

Nevertheless, it is up to this date where cryptocurrencies like Bitcoin have issues regarding scalability for the large masses. When this becomes fully solved while preserving decentralization, it could become a game changer as people would prefer to use it more than traditional payment processors like PayPal. Just my thoughts.

[The_Dark_Knight]

Paypal will always be superior to bitcoin simply because cryptocurrencies can never replace fiat. Bitcoin can become quite popular but a regular guy will never try to touch it because he will automatically think that it's some sort of scam. With all the articles on the Internet that's saying bad things about bitcoin, they are simply confirming that bitcoin is associated with illegal transactions. We can never remove that from bitcoin's reputation.

Paypal is such an easy website to use. You simply connect your bank account and that's it. There's no scaling issues, no transaction time + fee issues. Paypal is just like online banking. You send, and receive money. Bitcoin is pretty much the same but people are too lazy to understand the underlying information that makes bitcoin look complex.

But paypal is not fiat, paypal inly accepts fiat in their own service, as you see by doing that differentiation we can see that paypal even if it is big is nothing out of the ordinary it was meant for something like it to appear and now that there is bitcoin, bitcoin will eventually make it disappear as it takes its market share.

[supercointeam]

yes. it is possible to bitcoin to overcome paypal. when the awareness increases it happens to overcome but takes some time for that.

[monis09]

I think once Bitcoin is big enough and becomes more stable it has the potential to overcome Paypal. Once outside people start to realize the potential of Bitcoin they will see it more as a currency and be able to treat it like one also.

[Luno]

I think once Bitcoin is big enough and becomes more stable it has the potential to overcome Paypal. Once outside people start to realize the potential of Bitcoin they will see it more as a currency and be able to treat it like one also.

I don't think that is ever possible as paypal is more popular then bitcoins and it also has more users in compare to bitcoins and even almost all sites accepts paypal as a mode of payment which is totally missing with bitcoins at a moment.

[batang_bitcoin]

yes. it is possible to bitcoin to overcome paypal. when the awareness increases it happens to overcome but takes some time for that.

I have read an article yesterday on cointelegraph that PayPal will adopt bitcoin soon. At first, I thought that PayPal will be hard with this decision and they won't allow bitcoin to enter their business. But with this move, it's clear that bitcoin did overcome PayPal, it's just a matter of business.

[mayax]

a lot of shits are written. don't believe them

there are only stupid rumors.

[Abiky]

I have read an article yesterday on cointelegraph that PayPal will adopt bitcoin soon. At first, I thought that PayPal will be hard with this decision and they won't allow bitcoin to enter their business. But with this move, it's clear that bitcoin did overcome PayPal, it's just a matter of business.

Agree. It is just a matter of time before businesses and merchants realize the true potential of Bitcoin over PayPal. Give it a few more years, and it will become stronger, and more stable making it an attractive choice for everyday commerce.

Right now, Bitcoin has experience negative effects in its value, as well as uncertanity whenever its proposed scalable solution would become successful or not. In the bright side, I believe that this is just temporary, as it will become much more valuable than what it is right now when SegWit2x becomes successful within the Bitcoin network.

Thus, Bitcoin will become improved over the years making it a solid payments processor that will rival centralized solutions such as PayPal, Visa, MasterCard, and more. Just my thoughts

[stompix]

yes. it is possible to bitcoin to overcome paypal. when the awareness increases it happens to overcome but takes some time for that.

I have read an article yesterday on cointelegraph that PayPal will adopt bitcoin soon. At first, I thought that PayPal will be hard with this decision and they won't allow bitcoin to enter their business. But with this move, it's clear that bitcoin did overcome PayPal, it's just a matter of business.

Link?

You're talking about braintree which is old news:
https://cointelegraph.com/news/paypal-and-coinbase-strike-new-bitcoin-payout-agreement-millions-of-customers-affected

So if paypal is adopting bitcoin means that bitcoin has overcome paypal?
It like saying biodiesel has overcome Chevron.

[Abiky]

Link?

You're talking about braintree which is old news:
https://cointelegraph.com/news/paypal-and-coinbase-strike-new-bitcoin-payout-agreement-millions-of-customers-affected

So if paypal is adopting bitcoin means that bitcoin has overcome paypal?
It like saying biodiesel has overcome Chevron.

Yeah. Despite the similarities between PayPal and Bitcoin for money transfers, they're different one from another. It's like comparing oranges with apples. But, rest assured that the more traction Bitcoin gets, the more attractive it will become for merchants and individuals to get ahold of its benefits.

Eventually, both Bitcoin and PayPal will co-exist, as they have their advantages and flaws. Whenever you need to get access to fiat currencies, there is PayPal, and whenever you want to grow your investment for the long term and achieve financial freedom, there is Bitcoin.

It is up to you to choose which of these payment processors suits your needs to help you maintain a steady financial life. Just my thoughts

[Aur3]

It's possible but far from reality. Paypal has already established its name as the leading online payment system. Every one talks about Paypal. It becomes a household term but remember that Bitcoin is catching up. Everyone, these days, is starting to talk about Bitcoin. What is bitcoin? How does it work? How to invest in bitcoin? All these questions can act as a vessel to drive bitcoin to the right direction. Just not sure if it's enough to overtake Paypal. Never underestimate a brand that rules the world.