Will Bitcoin overcome Paypal?

[Beatcoin.it]

Bad formulation, bitcoin isn’t the right cryptocurrency for buy and sell goods. There is a lot of crypto currency that are way better than PayPal but they can’t afford the numbers of paypal, we will see.

[patz22]

Yes, there's a chance that it will happen in the future but not too soon since there are still a lot of work to do in order for us to ensure that money are safe with BTC and with the reputation and users of Paypal it is hard for them to change in bitcoin especially for those people who doesn't believe in crypto. My question now is "Can we just integrate BTC to paypal? Or Can someone just create a paypal like website wherein we can use BTC and other altcoins?"

[sdas90]

Actually we can use paypal for Bitcoin payment method can use for our transaction. Bitcoin is a first digital currency in the world . bitcoin a digital decentralized payment system working without any central repository or single administrator.While paypal is an online payment system .Bitcoin has lower fees than Paypal. Actually, Paypal is not available in every country but Bitcoin is border-agnostic like the Internet.

[cexylikepie]

At present, the level of the two is so different when Bitcoin is growing and many people know it as the strongest currency in the world. On the other hand, Paypal is undergoing many criticisms, blaming for customer neglect and thousands of other hassles. So, I daresay that Bitcoin has outpaced Paypal for a long time and forever

Bitcoin has no customer support whatsoever. If you make a mistake, if you are cheated buying something, zou are out of luck. And the fees are crazy.

Having no customer support is one of the pecks of decentralisation. If you're in crypto, It means you've agreed that you're in charge of your money and you should take responsibility for any carelessness that led to loss of funds. However, I do agree with you on the fees. If there's anything that might make people leave crypto, It's the ever increasing fees.

No, the transaction fees is only the problem of Bitcoin. Ethereum or other altcoins do not have this problem. Ripple is the cryptocurrency has cheapest fees and fastest confirmation time in cryptocurrency world. Not like Bitcoin, you need to spend few hours to get 6 confirmations for your transaction.

[Sheltor]

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.

No one knows what can happen next to the cryptocurrency world especially when it comes to bitcoin,  we never predicted that it can be 2900$ per bitcoin as it was only a few cents years earlier.

As for Paypal I don't think it can measure up to bitcoin again with the rate at which people are becoming enlighten and investing in it. Some business now accept Bitcoin for transaction to Paypal

[Ponzi Shame]

I don't think it will overcome paypal right now. Maybe in the future it might. The problem with paypal is that it is unsafe for merchants to use, especially if you are selling something digital. Buyers can usually just do charge back leaving sellers without recourse. On bitcoins, it is more seller inclined. As bitcoin transactions cannot be reversed.

[BlackBird13]

The fees for crypto transactions are significantly decreasing with the time, therefore, it is quite likely that bitcoin would become a more convenient rather than paypal. But it still needs some time.

[Abiky]

But some business like to use PayPal to create transaction than Bitcoin, because they can know onwner amount trading + can dispute if have scammer when create deal. And PayPal also can help you purchase instantly with cheap fees .

That's true. Businesses trust more PayPal as they deal directly with fiat currencies. Since Bitcoin is highly volatile, it makes it very unfriendly and sometimes unprofitable for anyone looking to start their business with it.

One big issue with BTC is the irreversibility of transactions, making it quite difficult to make a dispute, and prevent scams. In this regard, there are escrows available for Bitcoin, but they aren't as efficient as dealing with PayPal directly for a claim.

Therefore, it may take quite some time before Bitcoin can become widely used to the level of PayPal in the mainstream world. Once merchants realize the true benefits of using Bitcoin, they may switch to it, and leave traditional payment processors like PayPal behind. Only time will tell if this becomes a reality or not. Just my opinion

[ariewashere1]

not all SCAM, you guys just need to examine their github and improvement. to date know. ETCOIN appear promising. due to the group and communityL i

[HalfDeck]

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.

No one knows what can happen next to the cryptocurrency world especially when it comes to bitcoin,  we never predicted that it can be 2900$ per bitcoin as it was only a few cents years earlier.

As for Paypal I don't think it can measure up to bitcoin again with the rate at which people are becoming enlighten and investing in it. Some business now accept Bitcoin for transaction to Paypal

Use Bitcoin for payment as Paypal is stupid with the current transaction fees. I do not want to spend ~ 100 - 200 dollars for my transaction. Beside that, PayPal can provide me more safe in business and tools to calculation my profits/loss easier than use Bitcoin.

[partsofgarble]

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. 

Already voted, I think Paypal is good now because its directly attached to Ebay, and it's a great company for shopping online, in case of scams, instead of bitcoin, because transactoin cant be undone.

[haster100]

After Till stated that if he were to implement bitcoin before PayPal, bitlock technology could be implemented with PayPal for efficient functioning. This does not worsen PayPal, but it mentions the value of bitcoins. Therefore, in the future, everyone can be attached and make big changes.

[jassanpary]

The fees for crypto transactions are significantly decreasing with the time, therefore, it is quite likely that bitcoin would become a more convenient rather than paypal. But it still needs some time.

Paypal is already using all over the world and it has more number of users and paypal is recognized by the governments but still bitcoin is not legal, this could be main reason why bitcoin is still behind paypal, time may come bitcoin to overcome paypal.

[GideonGono]

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 and we now see the big change of bitcoins. I read an article which explains how much bitcoins have passed paypal. Paypal is already 17 years old and its demand is still weak, as bitcoins are 7 years old in the industry and remain firm and the price is increasing. And I saw the Paypal Volume at 7 Billion $ if I was not mistaken while the bitcoins were in the 8 Billion volume,

[Abiky]

Paypal is already using all over the world and it has more number of users and paypal is recognized by the governments but still bitcoin is not legal, this could be main reason why bitcoin is still behind paypal, time may come bitcoin to overcome paypal.

That's certainly true. PayPal is still the most trusted and used payment processor in the world with a wider audience than Bitcoin. Since it has been legalized and regulated, the centralized payment processor has been able to stand the test of time by proving its users reliability over their transactions. On the other hand, Bitcoin is having quite a hard time to manage large transactions per second, limiting its ability to become used in the mainstream world.

However, I believe that as Bitcoin matures, it will become better and stronger than ever capable of rivaling many of the world's payment processors such as Visa, MasterCard and PayPal. When that time comes, people will use cryptocurrencies for their daily transactions without the need to depend on any centralized solution or middlemen. Just my opinion

[CIiff0rd]

Only difference of paypal and bitcoin is that it is recognized by the government but when it comes to performance most people would prefer bitcoin.

[chidrawarster]

Even I would like to put btc as competition to PayPal as the charges will be reduced drastically. This would also increase online buying and selling transactions thereby making complete digital world which is paperless. Still tough competition can be imagine of if btc is regulated over the coming years.

[trolliban]

Paypal is a payment processor using fiat currency, bitcoin is a currency itself. Paypal can develop bitcoin payments or other cryptos in the future, I dont believe they should see bitcoin as a menace. eventually both will be at the same level and maybe paypal makes the transition to bitcoin if that will bring them more clients

[fabrizoc]

The fees for crypto transactions are significantly decreasing with the time, therefore, it is quite likely that bitcoin would become a more convenient rather than paypal. But it still needs some time.

Paypal is already using all over the world and it has more number of users and paypal is recognized by the governments but still bitcoin is not legal, this could be main reason why bitcoin is still behind paypal, time may come bitcoin to overcome paypal.

In some countries PayPal is also banned but in those countries bitcoin is open as it new and PayPal is old. I will give more value to bitcoin over PayPal. PayPal is not so good as bitcoin in many ways. Bitcoin have no fees at all. People can freely shopping online through bitcoin as compared to PayPal even in banned countries. Bitcoin is more better than PayPal.

[fight2018]

I don't think so.

Paypal just a tool base on fait currency. When Bitcoin overcome Paypal, that's means bitcoin overcome fait currency. I dont' believen that will  happen due to the interest of goverment.