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Author Topic: Bitcoin is still faster than Paypal.  (Read 2809 times)
MiteLit
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June 08, 2017, 03:45:37 PM
 #21

PayPal's is instant in a way but the actual confirmation time is 180 Days, The same for BTC as the TX is instant but you need 3 days if you use ridiculously small fees, PayPal and BTC aren't comparable in ease of use at all IMO as PayPal always causes issues, limitations, restriction and huge fees as well (of a % as well as a set fee).
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June 08, 2017, 03:47:02 PM
 #22

Ok yes. In-system transfers with paypal are faster than BTC.

But when it comes to getting funds from BTC, or Paypal, from a sale, into a bank account via ACH, BTC exchanges seem to do it faster.

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June 08, 2017, 03:50:36 PM
 #23

That's right, I use paypal and ussually get 180 days blocked, very hate it if you is a paypal seller as me, I like use Bitcoin because it very fast and not hold or block your money, only need spend a small fee for miner and get confirm fast

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June 08, 2017, 03:52:59 PM
 #24

Bitcoin should be faster! The tech is certainly faster.
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June 08, 2017, 03:56:01 PM
 #25

Ok yes. In-system transfers with paypal are faster than BTC.

But when it comes to getting funds from BTC, or Paypal, from a sale, into a bank account via ACH, BTC exchanges seem to do it faster.
Well that can just come down to a matter of principle though, Paypal is supposed to be a company that just facilitates transactions among different people and isn't really supposed to interact with banks much unless they're working with a business customer. There is a relatively decent different in how they would handle both account types, and with good reason.
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June 08, 2017, 04:04:39 PM
 #26

For me paypal is Bank 2.0 by which I meant putting money in paypal is like getting my money more regulated.
Bitcoin is meant for free birds. No one could dare to regulate your bitcoins unless you use represented web wallets.
So btc is better than Paypal in many sense.
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June 10, 2017, 06:51:18 PM
 #27

I didnt understand your method, i can sell my bitcoins into 10 minutes and have the money in my bank, doing local trades. Paypal does transfer any balance instant, there isnt confirmation delays, the only risk is the chargeback. Paypal were always the top platafform to any merchant/online costumer, bitcoin is something that still growing slowly over the market.

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June 10, 2017, 07:30:53 PM
 #28

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.



I will have to disagree with you on that. If PayPal will be delaying your money up to three days, I am sure there will be enough valid rewsonf for that to happen and if it eventually happened I am not sure how posting on the thread will make that any faster rather than contacting support in understanding the reason why such is happening in the first place but same cannot be done in the case of bitcoin even if its to a wrong address.
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June 10, 2017, 07:36:51 PM
 #29

Bitcoin is NOT faster than PayPal right now, not at all. Even ethereum's recent pump seems to me like it is due to its faster confirmations.


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June 10, 2017, 08:52:51 PM
 #30

i don't think so. bitcoin takes around 2 hours or maybe 1 but there are some situations where paypal can be instant, and bitcoin will go worse during the course of time. its not like we will always play minecraft so its not hard to notice what bitcoin offered some years ago and what it has become right now.


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June 10, 2017, 10:12:03 PM
 #31

Bitcoin is NOT faster than PayPal right now, not at all. Even ethereum's recent pump seems to me like it is due to its faster confirmations.
Right now people are complaining about the really high fee Bitcoin requires for it receive a fast confirmation. Even with a high fee the transaction might not get confirmed as fast as people think it will since there were times back then when people used a high fee with a Bitcoin transaction and their transaction was stuck for a few hours instead if it being confirmed within the hour.

YoBit stated that they are increasing their withdrawal fee to pay for faster transactions, they are usually fast when the withdrawal request gets approved.

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June 10, 2017, 10:26:38 PM
 #32

That sounds fair. Even bitcoin's slowest version with busy blockchain network could work faster than paypal.

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June 10, 2017, 10:34:02 PM
 #33

This statement of yours cant force to say that bitcoin tranactions is faster than paypal is,in your situation bamk transaction is included so it will really take time to get finished 2 days is a minimum for any bank transactions

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June 10, 2017, 10:35:15 PM
 #34

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.




Actually , any transfer between banks is 3 to 5 days, so it is the bank that is the hold up not paypal.

For an accurate comparison,
transfer money from a paypal user to another paypal user,
The paypal money will be their in less than a minute.

transfer bitcoin from one bitcoin address to another bitcoin address and if you pay a few bucks , it will be there in a few hours.

You can however , send BTC offchain thru one of the exchanges that support it , and it is the same speed as paypal, within a minute.
Reason : Offchain Transactions are faster and not limited by banks or blockchains.
*Coinbase / Cryptopia / NovaExchange all support offchain coin transfer between their members, easiest way to bypass the bitcoin blockchain congestion & fee insanity.*


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June 10, 2017, 10:54:59 PM
 #35

nah.. paypal is still faster in terms of transferring funds to another wallet, its instant. If you want to pay to a merchant to buy a product, you can also send instantly. Transferring to a bank is just an option.
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June 10, 2017, 11:01:37 PM
 #36

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.



Paypal withdrawals usually will take a long long time. However right now if you don't pay the correct fee then you are basically risking your transaction not being confirmed for months, so it's basically a tie here. Bitcoin is fast when you pay the right fee but a pain in the ass when you don't.

The thing about paypal isn't even how fast or how slow it is. The main thing that separates bitcoin andp aypal is that with bitcoin, nobody controls your money. You are trusting paypal to take care of your money if you use their service which evidently they do not do very well. They may go bankrupt and you're not covered by deposit insurance as paypal is not a bank.














 

 

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June 11, 2017, 12:41:48 AM
 #37

It's not really a valild comparison because you are comparing withdrawal times with sending time of bitcoin. If you send paypal funds then it is usually instant as well. Bitcoin on the other hand will take you around 10 minutes before the funds "clear" or get a confirmation on the blockchain. It's really not an issue for most bitcoiners though. The biggest difference with paypal and bitcoin is that you can't chargeback with bitcoin. With paypal, charging back is a huge issue. They usually side with the sender as well.


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June 11, 2017, 01:48:09 AM
 #38

Really? What happen to you OP? Did you experienced charge back ?
Because I agree with you because bitcoin is really fast than paypal but then you have to pay fee a higher fee for you to get your money fast but in paypal you can have transaction with lower fee but then the challenge there is the chargeback to the sender which is so bad in part of the receiver especially if the account is just holding the money then the chance of getting the money back is high.
We hope this paypal issue will be consider by the management as big bad view in their company. We hope that they can make their action.

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June 11, 2017, 01:56:30 AM
 #39

I think the transaction between Blockchain - Blockchain is much more like transaction between Paypal account - Paypal account then Bank - Paypal account?
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June 11, 2017, 05:53:25 PM
 #40

I can agree with you, bitcoin is by far faster than paypal because if you send bitcoin to a card in will take max an hour to use them as cash, and paypal will need 1-2 business days. The time of confirmations for the transaction is another issue, and it's happening for the security of the money.
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