Will Bitcoin overcome Paypal?

[Harbal]

Bitcoin will by no means defeat Paypal, believe in me. The number of merchants accepting bitcoin will by no means be equivalent to the one accepting bitcoin !

[Viscera]

As of this moment,Bitcoin worth is more than Paypal, at least when it comes to market capitalization $100,504,172,230. maybe next year we will see a trillion marketcap.

[Mikelude]

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 it will in the nearest future

[ruslanv]

Probably  even now bitcoin is expanding a lot more every single working day by day.There is no way we can compare bitcoin with paypal. 1 there is a legal guidelines when you want to use paypal but it is not so with bitcoin.Bitcoin is very rapidly and  it is less complicated in each and every transactions.

[ViceOfBTC21]

It's now still hard to use Bitcoin compared to clean and easy interface of PayPal. In PayPal, you just need to know e-mail address of your friend when in Bitcoin you must know his address which include asking. Unless nothing will come that you just need to know e-mail address, bitcoin will be a toy for speculators. But biggest advantage of Bitcoin over PayPal is no legal guidelines of bitcoin so yes, it can overcome.

[Manutax]

I think this is a poor comparison. Bitcoin is an asset class, as well as a means of payment. In my view, bitcoin has higher potential as a means of investment. PayPal is just a payment mechanism.

[12tribes]

Paypal as a processor will still be on but the issue of whether bitcoin can surpass paypal in volume deals and transactions will be subject to many factors.

[vkuap94]

Hey, I think yes in the near future... but the time for confirmation and all, can be a problem

[Fatanut]

It's now still hard to use Bitcoin compared to clean and easy interface of PayPal. In PayPal, you just need to know e-mail address of your friend when in Bitcoin you must know his address which include asking. Unless nothing will come that you just need to know e-mail address, bitcoin will be a toy for speculators. But biggest advantage of Bitcoin over PayPal is no legal guidelines of bitcoin so yes, it can overcome.

Well let me tell you that those random characters in bitcoin address is generated. Bitcoin is basically money with cryptography. Do you realize how secure that makes the whole thing? I don't know about you but I'd rather ask people about their btc address and copy+paste it rather than having a Paypal account and then get the past transactions disputed by scammers. True, Paypal's interface is very very intuitive but bitcoin is for people that have some common sense. You have to do some research about bitcoin but of course you can use an online wallet which acts a lot like Paypal in the aspect of being intuitive.

I think the biggest advantage of bitcoin is security. The government don't know that you are already holding tons of money and just waiting for the right time to sell them and they can't put tax on you for doing that. In Paypal, if you earned a relatively a lot of money, then your account will either be suspended, frozen, or hacked. Paypal even freezes your account with no apparent reason and you can research on that to see how much people have experienced that.

[Alok Yadav]

I believe bitcoin will grow to destroy PayPal's monopoly some day and I must tell you that PayPal is aware of this. In 2015 or so, they appointed a blockchain expert and bitcoin promoter (the founder of XAPO) as one of the company's board of director. Then in 2016 PayPal struck a deal with the american bitcoin bitcoin exchange giant coinbase. They did all these just to keep an eye on bitcoin and probably accept it into their system.

[subSTRATA]

Eventually it will.  I think the resistance from companies like paypal is mainly about volatility and the decentralized nature of bitcoin.  But the more popular bitcoin becomes as a payment method, the more it is in their interest to find a way to integrated bitcoin as a payment method.  Obviously there are challenges that still have to addressed in terms of volatility and exchange.

i think its less about volatility and more about decentralization; in fact i think the volatility has very little to do with their hesitance to integrate it. plenty of online vendors have already integrated bitcoin payments into their systems, such as newegg and microsoft (bitcoin to add store credit or something iirc), not to mention the rumors of amazon planning to integrate bitcoin payments in the future. but decentralization is one of the core tenants of bitcoin, it's the main quality of it that many organizations and companies do not like about it. this, i think, is the biggest reason many companies oppose the very idea of bitcoin. paypal, in this instance, has become one of the most dominant payment processing systems online, and holds a great deal of control. i can see them offering paypal credit in exchange for bitcoin should bitcoin go mainstream in the future, but its likely that it would cause too many complications.

[ilyadt]

I consider bitcoin already surpass paypal with it really is more rapidly payment functions and anonymous user transactions.And bitcoin has been included as one more payment processor in most on the web marketplaces if at any time you want to buy devices, items and providers also a lot of international locations has adopted it and start off employing it far more than their fiat currencyMany countries are innovating bitcoin and constructing atm machines.

[valentine401]

I think that paypal will soon implement in their software to have a capability of holding bitcoins since earning bitcoins today is very popular in different wallet and if paypal will implement that function then i think it will be a huge advantage for everyone because it will be more secured.

[elliottflz65]

Two different things. Paypal is a gateway for currencies and Bitcoin is a currency. I think we might see paypal integrate bitcoin

[Honest Tim]

Two different things. Paypal is a gateway for currencies and Bitcoin is a currency. I think we might see paypal integrate bitcoin

I don't think that can happen in the near future. Bitcoin doesn't need paypal for its mass adaption and also then paypal would become an exchange and would require to do kyc before letting a person withdraw their dollars.

[LyQaN]

maybe it could happen,if bitcoin increases its no.of user and dominance over market,but its not going to happen anytime soon.The other thing that could happen is bitcoin collab with paypal ,where you can easily buy bitcoin.

[McKane]

Two different things. Paypal is a gateway for currencies and Bitcoin is a currency. I think we might see paypal integrate bitcoin

Paypal is a gateway because it is even willing to accept bitcoin because in PayPal people are storing there money while in bitcoin people are earning money so the main difference is that Bitcoin is a currency and as you said that PayPal is a gateway. Where people can store there money easily.

[Squidoogeek]

My personal thought on this is that Bitcoin could dominate in its target markets if we don't screw the pooch now and in the coming months (forks!!!) and Paypal may well lose some market share in markets where Bitcoin and Paypal can sit side by side. Remember, Paypal doesn't operate in some countries either because of an unstable economy or because a large percentage of the population in those countries are "unbanked" (or both) and those are the environments in which Bitcoin or something like it could dominate. So it's fair to say that those who find Bitcoin most useful will use Bitcoin almost exclusively, those who find Paypal to be more useful than Bitcoin won't do much more than dabble in Bitcoin, and of course there will be people like me who use both Paypal and Bitcoin.

[Lecsor]

Two different things. Paypal is a gateway for currencies and Bitcoin is a currency. I think we might see paypal integrate bitcoin

Paypal is a gateway because it is even willing to accept bitcoin because in PayPal people are storing there money while in bitcoin people are earning money so the main difference is that Bitcoin is a currency and as you said that PayPal is a gateway. Where people can store there money easily.

Bitcoin is also called a payment system. But I would not compare the system bitcoin and PayPal. These are different financial instruments. PayPal is also likely to receive and serve bitcoin

[xBitHodler]

It's too hard to answer, probably it's too early. Bitcoin transactions were created to be irreversible. PayPal is great thanks to their customer protection. However, it's usually abused and people chargeback their money after their receive what they have paid for. I have never been chargebacked but my friend was and every time he received $20 penalty. Bitcoin doesn't have such problem because it was designed in a different way.