Why Bitcoins is now same as paypal(and worst)

[NEWGOODOUBLE]

Bitcoin its just a payment processor nothing else, you able to send fast trasactions with a huge fee. Bitcoin is a currencie with huge potencial to grow over time, a payment processor, and well we all knew that in the future fees should replace the mined coins, since bitcoin is limited. If you not happy with the btc fees you can use others altcoins that are faster and cheaper like doge.

I think bitcoin is not just a method to pay for it but more than that even you can make bitcoin for investment different with paypal which can only be used for the payment method only but it seems the problem is not that

[Omega Weapon]

I don't know how you can to compare PayPal and bitcoin. They are two different things. Only just internet payment program and other is currency. But if to talk about slowly transactions I also noticed that it became much slower than before. I can't say that it's annoy me a lot, cause banks transactions are providing during 3 days, so to wait some hours with bitcoin transactions is ok to me.

Correct bitcoin still is a lot faster than any bank transfer but unfortunately it seems the time where we had cheap and fast confirmations is slowly fading away and we are entering a time where high fees and slow confirmation time will be the norm.

[Xenophoto]

Yes it took me 3 days to get my 3 million satoshis because I paid lesser.
This is really not going well. They are requiring bitcoin users to pay more for a better service.
I hope this just happens for now because of too much transactions that are pending.
Question is will it be fixed like it was before.

I'm beginning to think its normal if your wallet doesn't give you the option to send btc with higher transaction fee. But wait awhile, it will still be processed eventually, it just take time.  The slow transaction confirmation and higher fees still aren't reasons why is could be compared to paypal, paypal is nowhere near btc if you look at how it can scam its users. I would consider moving to another coin though if it gets worse later. ETH seem to be a better option for everyone.

Wouldn't BTC be worse for scamming than paypal? If you get scammed with BTC there's no way to get your money back. If you get scammed with paypal you could contact paypal and ask for a chargeback.

This is the only purpose we prefer PayPal, they have customer support, and they will take sometimes solve our issues, but it will be solved, In Bitcoin, we don't have this options if anyone scammed you that's it that amount will never get back to you. But to compare transaction speed and transaction fees wise The Bitcoin is good less fee and fast transaction. Both have some problems so choosing Bitcoin or PayPal is left to you.

The dispute feature is a good thing only if you're the buyer. If you're a seller, somebody can try the usual Paypal dispute scam and most of the time he'll successfully be execute it with just some explanation to the Paypal team. For example, he can claim that he got hacked and he did not authorize that payment, etc.

Bitcoin has lesser fees but definitely not a faster transaction. In terms of transaction time, Paypal is still much better but the fee you're going to pay is much more.

[klf]

Bitcoin its just a payment processor nothing else, you able to send fast trasactions with a huge fee. Bitcoin is a currencie with huge potencial to grow over time, a payment processor, and well we all knew that in the future fees should replace the mined coins, since bitcoin is limited. If you not happy with the btc fees you can use others altcoins that are faster and cheaper like doge.

I think bitcoin is not just a method to pay for it but more than that even you can make bitcoin for investment different with paypal which can only be used for the payment method only but it seems the problem is not that

Yes, for investment purpose bitcoins are quite useful because its prices move up and down quite fast and we can make decent profits from trading. But Paypal is best for payments compared to bitcoins. Also if one want to use bitcoins to buy from an unknown person then need to find an escrow to make the transaction, but with PayPal no need worry because they give protection to buyers. So Paypal is quite popular for online payment than Bitcoins.

[pinkflower]

Bitcoin its just a payment processor nothing else, you able to send fast trasactions with a huge fee.

This is one of the most stupid comments I have ever read here in Bitcointalk. It would be better for you to stop making comments because saying it is a payment processor and nothing else is the least of what Bitcoin is.

Read more and research about Bitcoin, proof of work and the politics in development or get out.

[Mike Mayor]

What has PayPal got to do with this ? Are you saying the transfer fees are worse with bitcoins ? That's not true I have seen PayPal charge 4% and that is a lot. You dontnhabe to spend as much as you say I have spend less and got the bitcoins sent in under an hour. I do agree though thst it is slow and I have no idea why. Maybe we need more miners ?

[dihari]

The best thing that make bitcoin easy and good to use is because it have a low fee transactions to pay. I don't think it will be so high fee for now. It's ridiculous when we support and puclicize that bitcoin is the world era in inter lnet payment with anonymous system and low fees.
It's going bad for bitcoin ecosystem if its not solve from now. It will not different with any other payment system which has already exists, so what's make bitcoin special anymore?

[nowytutaj]

This.

Consider the situation in a BTC point, and you will see that the actual fees are marginal.

Ask yourself how much would u pay for sending 1200$ (aka~1BTC), and how much for an extra quick processing this payment?
Now convert that to satoshis and compare with fees your paying while sending BTC.

[bravehearth0319]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

You know Bitcoin is bitcoin and Paypal is paypal, the only similarity is they are both use as online payment and rather than that no more. Because bitcoin is decentralized while paypal is centralized, and bitcoin was unregulated and Paypal is regulated industry.

[batang_bitcoin]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

I personally don't experienced that I had to pay the fee reaching $1, it's a fact. Most of the time I just need to pay cents of dollar for my transactions. And comparing bitcoin to paypal is really crazy they are actually different on aspects and service. And don't believe that only transactions higher than 0.01BTC will be the ones that will gets confirmation, it's just a matter of network traffic.

[nethan1btc]

Both of them were good and most of the people really transact buy and sell with bitcoin and they are going to beat the odds of digital currency, as well as encouraging people to participate and invest.

[Gembul]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

I personally don't experienced that I had to pay the fee reaching $1, it's a fact. Most of the time I just need to pay cents of dollar for my transactions. And comparing bitcoin to paypal is really crazy they are actually different on aspects and service. And don't believe that only transactions higher than 0.01BTC will be the ones that will gets confirmation, it's just a matter of network traffic.

Agree with you, bitcoin is a currency and paypal in my knowledge not a currency but place save and send money. So sure enough we can not compare them. I personally have never paid more than $ 1 fee. I also had some dealings with the confirmation process is quite long, but for some transactions with the same amount of bitcoin I get a quick confirmation process. So really I think depending on network traffic at the time we send bitcoin. Thank you

[batang_bitcoin]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

I personally don't experienced that I had to pay the fee reaching $1, it's a fact. Most of the time I just need to pay cents of dollar for my transactions. And comparing bitcoin to paypal is really crazy they are actually different on aspects and service. And don't believe that only transactions higher than 0.01BTC will be the ones that will gets confirmation, it's just a matter of network traffic.

Agree with you, bitcoin is a currency and paypal in my knowledge not a currency but place save and send money. So sure enough we can not compare them. I personally have never paid more than $ 1 fee. I also had some dealings with the confirmation process is quite long, but for some transactions with the same amount of bitcoin I get a quick confirmation process. So really I think depending on network traffic at the time we send bitcoin. Thank you

It's a payment processor and it's like the wallet of dollar. OP is just assuming that bitcoin will be the same like PayPal because of the fees and as well as the delay of confirmation. But I don't really see that it should be hated, maybe there are people that really wants to make their transaction confirmed immediately but because of it they are annoyed.

[Sled]

I don't think bitcoin is now same as paypal because bitcoin does not have chargeback where you can scam other people in doing transaction. Yes, we all know that the fees are now getting higher and higher overtime but it does not serves as a similarity in paypal because bitcoin is more convenient and no doubt that bitcoin is better than paypal.

[ubercool]

Bitcoin is and will be always better than PayPal. People are thwarted with the transaction fees raise and delay issue, but can never be compared with Bitcoin.

[Amph]

think about this, if people are willing to pay for the harmful fee that come with paypal, western union etc... then they can certainly go above the current fee for bitcoin

they are still very far away from being called crazy fee, even with big transaction you are looking to pay $1, this is hardly expensive, paypal will charge you more on average

[Pattart]

Bitcoin is and will be always better than PayPal. People are thwarted with the transaction fees raise and delay issue, but can never be compared with Bitcoin.

but sometimes bitcoin transactions are also very long delay even more than 24 hours if you're using a low fee? This time you will get a very long transaction if you use a fee 0.0001 BTC

[danherbias07]

think about this, if people are willing to pay for the harmful fee that come with paypal, western union etc... then they can certainly go above the current fee for bitcoin

they are still very far away from being called crazy fee, even with big transaction you are looking to pay $1, this is hardly expensive, paypal will charge you more on average

Yes you are correct. Actually before I was paying more than 1 dollar for sending money to my relative in the province through Western Union. When I convert it to USD it is like for every $40 dollar that I will send, I will pay $1.
So why not, I can pay that much if my transaction will be confirmed the way I want it.
We got so used to faster transaction with a little fee that with just a little adjustment some people are already complaining.

[AliceWonderMiscreations]

think about this, if people are willing to pay for the harmful fee that come with paypal, western union etc... then they can certainly go above the current fee for bitcoin

they are still very far away from being called crazy fee, even with big transaction you are looking to pay $1, this is hardly expensive, paypal will charge you more on average

While true, I don't like the idea of paying over a dollar just to transfer some BTC to my phone wallet and then after I don't need it there anymore, paying over a dollar just to transfer it back to my PC wallet.

I can shuffle money around between fiat my bank accounts without any fee at all.

[jakelyson]

think about this, if people are willing to pay for the harmful fee that come with paypal, western union etc... then they can certainly go above the current fee for bitcoin

they are still very far away from being called crazy fee, even with big transaction you are looking to pay $1, this is hardly expensive, paypal will charge you more on average

While true, I don't like the idea of paying over a dollar just to transfer some BTC to my phone wallet and then after I don't need it there anymore, paying over a dollar just to transfer it back to my PC wallet.

I can shuffle money around between fiat my bank accounts without any fee at all.

Bitcoin is not a miracle drug that can solve all your financial needs. If you think you can go cheaper using fiat in banks, then go for it. If you think you will spend less using bitcoin, then use bitcoin. No one is forcing anyone to use one currency. You do not have to shuffle your bitcoin from mobile to pc wallet if you don't want to.
Like for me, whenever I send money, I do not have to use western union or the likes, I can use bitcoin for that because it is cheaper in terms of transaction fee. Even if I send half a bitcoin or more, as long as the bytes are small, it incurs cheaper fee.