Will Bitcoin overcome Paypal?

[Rojectime]

Bitcoin will by no means overcome Paypal, trust me. The amount of retailers accepting bitcoin will by no means be equivalent to the a single accepting bitcoin !

[Pettuh4]

Bitcoin will by no means overcome Paypal, trust me. The amount of retailers accepting bitcoin will by no means be equivalent to the a single accepting bitcoin !

Currently you can say this but bear in mind PayPal didn't start this big, it was a gradual process and it took years to be where it is now. I have no doubt Bitcoin with time will surpass PayPal because it's doing what PayPal does even better except a few drawbacks like delayed confirmations times and the fact that many merchants don't know or trust it yet but it will change with time.

[cexylikepie]

I think it will overcome PayPal in fast transactions and of course the number of funds Bitcoin has more Dollar reserves than PayPal. But this is the only thing that bitcoin will be hard to overcome on PayPal, the security of every members from fraud. Unless you are using online wallets, in our country you can never use their service unless you'd undergo in their KYC verification. So you can open a dispute if the scammer is using the same online wallet.

Paypal is popular around the world. It already builds a strong foundation same as with bitcoin. And I think bitcoin will overcome paypal because it has an opportunity to make money using the currency as a medium trading. Unlike paypal, their main focus only is offering people a reliable payment flatform.

Bitcoin got all that features of paypal which is mainly about online payment. Bitcoin give also an opportunity for the people to use it as a way to pay things through the internet and receive the money without having any problem and the main thing that i like in bitcoin that will overcome paypal is the chance to either grow your bitcoin into a bigger one or gain profits in fiat value by just keeping your bitcoin in your wallet.

Are you sure? I do not remember Bitcoin can transfers money instantly and does not need to wait confirm transaction. Besind that, if Bitcoin system has problems, I can not confirm my transaction in much times.

[Rinder]

Absolutely yes, actually Bitcoin has already defeated Paypal in terms of Total Market cap. Many people started to left Paypal to use crypto currency due to less cost, hassle free, and fast transaction. Someday crypto currency would kill money transaction services like Paypal, Skrill. etc.

If Bitcoin defeated Paypal then why is Paypal being used by more people until now? I guess that the total market cap is not a good basis to see if Bitcoin has already taken the place of Paypal. Paypal has another good feature where why most people prefer it as a payment system. Their method is so good that you can't get scam as the process acts as an escrow which protects your transaction. By now we know that there are a lot of scams that is happening everyday as users of Bitcoin can remain anonymous while they can create a lot of new addresses in order to continue on scamming.

Well paypal does have a lot costumers, would be amazing to bitcoin be an option to convert into our local currencies, but we do have shapeshift already for those purpose. I dont believe bitcoin has already reached near because how this information is being traced, because mining blocks shouldnt count as transaction at all.

Bitcoin is the most safest place to have money around, if people dont know how to keep their coins protected and safe thats their fault.... paypal does allow to recover some funds as you can proof something were wrong.

[Glorious04]

I wish something would "overcome" PayPal. How they can get away with 6 month confirmation times, and call themselves "new Money" is beyond me.

To answer the OP - Will oranges replace sausages? They are totally different things, as are Bitcoin and PayPal.

Exactly. Bitcoin is money while paypal is payment platform. Though you can pay online with bitcoin (for those who accept bitcoin) with out using paypal. I dont think paypal accepts bitcoin though.

[ir.yance]

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 hope also so that your child can overcome paypal so that within 6 months, new money in reach

[Dhaaaw]

I have voted no.
Primarly because bitcoin and paypal arent the same thing nor in the same category thus none can remplace the other.
Secondly if you're talking fiat, bitcoin max amount even after mining everything isnt enough to cover all the money already in the market.

[pugman]

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 different, their platforms, bitcoin is a currency and PayPal is not. PayPal is a intermediate and bitcoin eliminates the use of intermediates.  Bitcoin will is the future whereas it's not the same for PayPal. And preference wise, I'll use bitcoin any day when compared to PayPal, I believe these factors have already defeated PayPal.

[mammoniter]

I voted yes because I want bitcoin to be as common as paypal in terms of mode of payments for online transactions. I don't have a credit or debit card for some good reasons and I hate falling in line and filling out forms and etc in order to have one so it has been a real hassle for me whenever there are no cash on delivery options as a mode of payment, unlike bitcoins which aside from being secured it is much more easier to use.

[Kamal87]

Well I can see that's the advantage of bitcoin. We don't really need to be connected to any banking services or needs to verify anything from them. What we only need to do is having a bitcoin wallet and upon registering to any wallet provider we just need to verify it through our email. So the legacy of PayPal will be remembered and yes of course bitcoin will Overcome paypal. bitcoin has a greater potential than the paypal terms of viewing angle. ranging from business, transactions, and much more. bitcoin has a better edge than at this time paypal, but not everyone admits it. Well, I believe bitcoin will be the best.

[CGPA]

I think, at present already bitcoin overcome paypal.Because huge people use bitcoin.Moreover Bitcoin is a source of income. So any time bitcoin will overcome paypal.

[komp1]

I feel bitcoin currently surpass paypal with it's more rapidly payment features and nameless person transactions.And bitcoin has been extra as yet another payment processor in most on the internet markets if ever you want to buy devices, goods and services also a lot of countries has adopted it and start utilizing it more than their fiat currencyMany countries are innovating bitcoin and creating atm machines.

[hich_ang]

Paypal is already dying. In my opinion if ebay don't support paypal anymore it will be its end.

[SonOfNorth]

I think it will overcome PayPal in fast transactions and of course the number of funds Bitcoin has more Dollar reserves than PayPal. But this is the only thing that bitcoin will be hard to overcome on PayPal, the security of every members from fraud. Unless you are using online wallets, in our country you can never use their service unless you'd undergo in their KYC verification. So you can open a dispute if the scammer is using the same online wallet.

Bitcoin will never be as fast to transact as PayPal is, because on PayPal nothing is being moved and the change in balance is only done via centralized database. No blockchain can ever beat that speed by design. Also comparing PayPal's USD reserves to Bitcoin which doesn't have such in the first place seems pretty counterintuitive.

[thebanker28]

I am definitely in the maybe camp, I would love to see Bitcoin being adopted broadly as a peer to peer currency and remove the strangle hold the likes of PAypal and some of the banks have on transactions. I think its achievable, but there are some obstacles.

• Firstly confirmations would need to be consistent and quicker
• Secondly Coin price stability needs to be better
• Thirdly the process needs to be more user friendly.

If we can address these challenges, I think we will be in business.

[salihno71]

It's not really comparable at the moment. Main problem beeing time of transaction confirmation which can take several hours and the number of transactions in second which can be processed. If Lightning network or some other add on successfully addresses this issue, then it might happen.

[_noname_]

very unlikely. not earlier than in 10 years.

[soham]

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, both are structurally different and can't be compared with each other. While bitcoin is a currency, paypal is just a payment processor which enables transactions in USD or EUR. Paypal is regulated by the local laws of the countries they are operating, while bitcoin knows no boundaries.

Paypal works under the strict guideline of the regulatory agencies worldwide and the legal status of bitcoin is still not clear. So they can't be compared with each other. However, in terms of business, bitcoin has definitely defeated paypal long back. Just check their market cap and you will come to know the truth.

[ninabobo]

I don't think like you. for me paypal is more practical than bitcoin, although many weaknesses and that harm me personally. but at least paypal first and very much in use for the means of payment around the world.

[DewiKirana]

it is not possible bitcoin will replace paypal as a means of payment that is currently being triumphed. But it must be accompanied by fixes and additions of bitcoin features, to be fast and precise. Nowadays many are using bitcoin as a direct payment tool, but not all areas of commerce are willing to accept bitcoin, which should be corrected bitcoin.