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Author Topic: Bitcoin is still faster than Paypal.  (Read 2733 times)
GeePeeU
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June 08, 2017, 01:25:58 PM
 #1

Over the duration of the week, I sold something, and initiated the transfer to my bank from paypal.

It said "ETA 1 Business Day"" And here we are on day 3.

So I guess, even with the consistently congested block-chain, Bitcoin beats Paypal all day.

Any TX with a proper fee will be "Fully cleared" within an hour or two.

At least you can view your transactions progress with a block explorer with BTC.


Fuck you paypal gimmie my money.


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June 08, 2017, 02:21:21 PM
 #2

No, it's not. PayPal's transactions are faster (and sometimes cheaper) currently. Withdrawal to a bank doesn't count, because they are very unrelated to Bitcoin's transactions.
Also your Bitcoin transaction doesn't have many stages, it's either confirmed or it's not. Similarly with PayPal, your money are sent/deposited or they're not.
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June 08, 2017, 02:23:55 PM
 #3

No, it's not. PayPal's transactions are faster (and sometimes cheaper) currently. Withdrawal to a bank doesn't count, because they are very unrelated to Bitcoin's transactions.
Also your Bitcoin transaction doesn't have many stages, it's either confirmed or it's not. Similarly with PayPal, your money are sent/deposited or they're not.

The money is not really deposited until the chargeback period is over, I think of 180 days.  So in up to 6 months you can wake and your balance disappeared because of chargeback Huh

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June 08, 2017, 02:31:34 PM
 #4

No, it's not. PayPal's transactions are faster (and sometimes cheaper) currently. Withdrawal to a bank doesn't count, because they are very unrelated to Bitcoin's transactions.
Also your Bitcoin transaction doesn't have many stages, it's either confirmed or it's not. Similarly with PayPal, your money are sent/deposited or they're not.

The money is not really deposited until the chargeback period is over, I think of 180 days.  So in up to 6 months you can wake and your balance disappeared because of chargeback Huh
Surely, and even if it is deposited or spent they can still charge your credit/debit card for a chargeback.
I do not support/endorse PayPal over Bitcoin in any shape or form, just stating the fact that Bitcoin at it's state is more expensive and slower than PayPal.
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June 08, 2017, 02:32:46 PM
 #5

lol

comparing paypals exit terms to bitcoins internal use is silly.

i can send funds to someone else IN paypal in seconds.
i can send funds to someone else IN bitcoin in 10mins-3days.

i can request a fiat withdrawal from paypal to bank. 3-5 business days
i can request a fiat withdrawal from bitcoin to bank. 3-5 business days

if you are going to do a fair comparison... then make sure the comparison is accurate
Eg dont use internal use vs external use

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June 08, 2017, 02:35:05 PM
 #6

Bitcoin is still faster than paypal? of course it is bitcoin is the most valuable coin in the cryptocurrency right now paypal is just a wallet that uses as a mode of payment unlike bitcoins,,, bitcoin itself can double or increase it's value. ,,, bitcoin is still faster than paypal Smiley
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June 08, 2017, 02:38:31 PM
 #7

I agree on what have been posted above. paypal is still faster when we do exclude bank transfers it will really consume time but coming to fees i will vote for bitcoin even the fees are soaring high but still better than paypal.Chargebacks is only the thing that i really hate about paypal.

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June 08, 2017, 02:39:49 PM
 #8

No, it's not. PayPal's transactions are faster (and sometimes cheaper) currently. Withdrawal to a bank doesn't count, because they are very unrelated to Bitcoin's transactions.
Also your Bitcoin transaction doesn't have many stages, it's either confirmed or it's not. Similarly with PayPal, your money are sent/deposited or they're not.
Paypal does have a much better speed than bitcoin, in using paypal we do not have to wait for confirmation. Because of direct delivery to each paypal account. If bitcoin can cope about delivery time maybe one time bitcoin will have speed equal to paypal. So everything can change according to the state of the system at that time.


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June 08, 2017, 02:44:23 PM
 #9

No, it's not. PayPal's transactions are faster (and sometimes cheaper) currently. Withdrawal to a bank doesn't count, because they are very unrelated to Bitcoin's transactions.
Also your Bitcoin transaction doesn't have many stages, it's either confirmed or it's not. Similarly with PayPal, your money are sent/deposited or they're not.

The money is not really deposited until the chargeback period is over, I think of 180 days.  So in up to 6 months you can wake and your balance disappeared because of chargeback Huh
Surely, and even if it is deposited or spent they can still charge your credit/debit card for a chargeback.
I do not support/endorse PayPal over Bitcoin in any shape or form, just stating the fact that Bitcoin at it's state is more expensive and slower than PayPal.

Bitcoin has a fixed fee, while PayPal charges a % for every transaction. For bigger values surely Bitcoin will be cheaper

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June 08, 2017, 02:49:51 PM
 #10

Over the duration of the week, I sold something, and initiated the transfer to my bank from paypal.

It said "ETA 1 Business Day"" And here we are on day 3.

So I guess, even with the consistently congested block-chain, Bitcoin beats Paypal all day.

Any TX with a proper fee will be "Fully cleared" within an hour or two.

At least you can view your transactions progress with a block explorer with BTC.


Fuck you paypal gimmie my money.



If you're using a credit card linked to the paypal or you are using your paypal funds, then paypal beats bitcoins in most cases. Unless both you and the payment processor is using bitgo, then paypal wins in speed in those situations.

Though, paypal still sucks, IMHO.

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June 08, 2017, 02:55:08 PM
 #11

Bitcoin beats paypal in terms of services even it increases in fees since its transaction fees were lower than paypal such its faster and reliable.


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June 08, 2017, 02:58:49 PM
 #12

If you want to compare it, compare the transition speed, not withdrawal to cash because that's depends in the exchange. It took me less than 5 min to send money with paypal, but more than 1 hour with bitcoin.

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June 08, 2017, 03:04:33 PM
 #13

I'll be more excited when bitcoin is running at 20 tx/sec or higher at a fee of 25 cents per transaction or less, with zero unconfirmed transactions in the backlog, with the big mining giants no longer running the show. I know they never will, but they should consider a proof of stake component to the coin with 1 minute block times.

Getting 3 confirmations takes 30+ minutes in many cases.  Don't want Ethereum to take the throne? Get it done.

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June 08, 2017, 03:10:37 PM
 #14

No, it's not. PayPal's transactions are faster (and sometimes cheaper) currently. Withdrawal to a bank doesn't count, because they are very unrelated to Bitcoin's transactions.
Also your Bitcoin transaction doesn't have many stages, it's either confirmed or it's not. Similarly with PayPal, your money are sent/deposited or they're not.

The money is not really deposited until the chargeback period is over, I think of 180 days.  So in up to 6 months you can wake and your balance disappeared because of chargeback Huh

That, and a centralized entity have a say over your transaction. They decide if they want to process the tx or reverse it. Have you read their ToS?

Centralized payment methods like PayPal and credit cards cannot give you full control over your transactions and your information and consumer

information are their property to do what they want to. { marketing or sharing it with government agencies }  Roll Eyes

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BitHodler
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June 08, 2017, 03:10:47 PM
 #15

False comparison. If you transfer funds from your PayPal balance to another PayPal account, the transaction will show up instantly ~ nothing can beat in-system transfers.

The only negative point in this case is that it will take a huge number of days before PayPal transactions settle in the way that it is impossible for the other party to charge back on you.

Bitcoin in this case has the advantage, because after the first confirmation, the funds are really yours. No one can take them away from you.


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June 08, 2017, 03:18:06 PM
 #16

Bitcoin beats paypal in terms of services even it increases in fees since its transaction fees were lower than paypal such its faster and reliable.
I agree with your statement its absolutely true , Users will be deciding on which payment method will they get from these two choices , But for me I am sticking on bitcoin since bitcoin is my most favorite than paypal, In paypal you are ask to surrender your identity by submitting some id's and adding your personal bank account . In bitcoin you dont have to surrender your identity to use the bitcoin.


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June 08, 2017, 03:22:41 PM
 #17

lol

comparing paypals exit terms to bitcoins internal use is silly.

i can send funds to someone else IN paypal in seconds.
i can send funds to someone else IN bitcoin in 10mins-3days.

i can request a fiat withdrawal from paypal to bank. 3-5 business days
i can request a fiat withdrawal from bitcoin to bank. 3-5 business days

if you are going to do a fair comparison... then make sure the comparison is accurate
Eg dont use internal use vs external use

He also took one specific example of paypal and compared it to the average in bitcoin instead of taking averages against averages.

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June 08, 2017, 03:26:26 PM
 #18

Well if you pay enough fee for bitcoin transactions it will be confirmed fastly perhaps faster than Paypal. But if you just choose to pay a customed fee not enough for the transaction, you should most likely wait long time to your transaction to get confirmed .

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June 08, 2017, 03:27:56 PM
 #19

Paypal is the worst wallet which I ever had.They have dumbest support which I saw in some wallets in the history.If you want delete account it is so hard to do with paypal or if you want to change from business to personal account.
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June 08, 2017, 03:38:08 PM
 #20

As much as love bitcoin, PayPal is way faster.  Those of you who are saying it's not are trying to move the goalposts to win your argument.   Paypal gets received and I can spend it immediately.   It may take a day to get into my bank account,  but that's only if I decide to do that.   It's a good thing PayPal isn't DIGITAL GOLD, else we wouldn't need bitcoin at all.

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