Market cap of BTC passes that of PayPal

[sindikat]

It seems to me that if you now create a safe trading platform like aliexpress or ebey only to trade with bitcoins what a year we what PayPal has lost its relevance. Trade bitcoin profitable for all. The seller receives income and the buyer saves money on the exchange.

[1715123670]

1715123670

[1715123670]

1715123670

[1715123670]

1715123670

[Rinaze]

This is definitely very impressive but still a long way to go before the world mass adopt BTC as one of the main paying currency!

[skyline247]

One small step for Bitcoin... one giant leap, to the moon!

Congratulations to everyone, we did it! Soon we will pass the market cap of eveything.

[Yoandy10]

PayPal is a joke anyways. BTC will reign supreme in the realm of P2P payments in the near future. All we need is a centralized mining rig large enough to run the BTC network so that the need for transaction fees disappear. This has to be a must, especially as we get closer to mining the last block. I think the Lightning Network will solve this problem.

[bamboylee]

This is great milestone for bitcoin. Paypal has lost a lot of clients when bitcoin came into the scene anyway, so it is great that bitcoin finally passed paypal in market cap. Maybe if bitcoin get fine tuned more and get rid of scaling problems, it will get pass visa/mastercard as well.

[jak3]

today I am proud of my decision which I have taken on back at 2011 about joining this community. at that time only I know how much effective this new money processing system is and now my whole country wants to know about it. I can say I saw that coming and I am also watching how future is being built as it is a very useful knowledge which not each and every student is getting right now but I am getting it for free.

[AleSergio]

Wow, i didn`t knew that, i thought paypal is still bigger than bitcoin in x10 times.
Still it is great news and it is a great year for all crypto members
We were struggling a lot, but we are on the top and we will go further!

[btccashacc]

i'm not surprissed that bitcoin's market cap can pass the paypal. Paypal was established in 1998 while bitcoin in 2009 it only tooks 8 years to beat paypal, imagine in 20 years or more bitcoin's market cap will be far far higher than paypal.

This is definitely very impressive but still a long way to go before the world mass adopt BTC as one of the main paying currency!

Exactly, mass adoption is the mayor factor here and it's very important, as a payment form bitcoin is better than paypal, one thing that make it bad is people outside always think that it's a criminal tool due to the stereotype that media spread, hoping bitcoin would be adopted and used widely.

[Mike Mayor]

Yet shitty oaypay is what some vendors still prefer to use are these vendors living under a rock ? Why the hell would anyone use PayPal esspecially a vender. Hey if they want to give PayPal 7% of their money that's fine with me actually good it serves them right for bit accepting Bitcoin and making my life hard. He can I spend PayPal using Bitcoin ? Are there PayPal rechsrcoichers or something ?  Help please.

[Przemax]

As much as we can be happy about bitcoin having higher market cap than this or that, calculating the market cap if bitcoin is a rather tricky thing. It assumes that people are willing to sell their bitcoins. They are not, so if a lot of people would like to sell them the price of single bitcoin would be lower, and the bitcoin market cap as well with it.

Bitcoin market is a specifical market to make market cap calculation a tricky thing to do.

[nutildah]

As much as we can be happy about bitcoin having higher market cap than this or that, calculating the market cap if bitcoin is a rather tricky thing. It assumes that people are willing to sell their bitcoins. They are not, so if a lot of people would like to sell them the price of single bitcoin would be lower, and the bitcoin market cap as well with it.

Bitcoin market is a specifical market to make market cap calculation a tricky thing to do.

Its not a tricky thing. You just times the number of coins by the price and voila! Market cap. I think I see what you're saying but the same would also hold true for PayPal's stock value if a bunch of people decided to sell their holdings tomorrow.

Since I posted this message, BTC has indeed fallen below PayPal, but who knows by tomorrow the situation could have reversed again. Regardless, I think comparisons of the two are fair because bitcoin _is_ more or less a company; its just not owned or run by any one person and it doesn't have to make a profit for any shareholders. It won't be sunk if it doesn't churn out profits. It's the closest we've come to Skynet, IMHO. Not that that's the goal, but its definitely cool to watch something owned by a community overtake something owned by corporate shitheads.

[bitart]

I'm waiting for the time when we will talk about the number of transactions getting closer and closer to Paypal (at least, not VISA and MasterCard). Japan could be a key point in this, if the merchants and the people in that country test out the possible solutions to get bitcoin videly accepted as a currency.

[offlinedragon]

The day is here. Bitcoin is finally bigger than PayPal.

https://www.cryptocoinsnews.com/the-real-flippening-bitcoin-tops-paypals-market-cap/

I wasn't so sure BTC would ever see this day... now its become a reality. Currently $70.77 bln for PayPal vs. $70.99 bln for bitcoin. Next up, Western Union!

As Samuel L. might say:

That’s a very great news indicating that the bitcoin market is rising faster and higher than even predicted, the rate at which the coin is being traded these days has been very amazing, people now prefer to even buy bitcoins than buy clothes.

[MostHigh]

The sky is now the limit for bitcoin but this is thanks to all involve who made this happen. This wouldnt have been possible without users and investors. The next target is WU indeed

[aoluain]

That's really a great news to see that we are gaining momentum but still, this is just a single step towards global crypto based economy. Here is the summary of transaction volume of various payment methods, even though the data is old but still it gives a little idea of where we stand today and there is a lot more to achieve.

I am sure that in next 10 years Bitcoin will be number 1 choice for the worldwide payment transfers.

Great chart and a nice to see visually where we are at in comparison
to others. What would make a huge difference is if more online marketplaces
like EBAY would initiate an option to pay with Bitcoin. Buyers and sellers who
are not currently using Bitcoin would possibly consider entering the market.

[bitart]

That's really a great news to see that we are gaining momentum but still, this is just a single step towards global crypto based economy. Here is the summary of transaction volume of various payment methods, even though the data is old but still it gives a little idea of where we stand today and there is a lot more to achieve.

I am sure that in next 10 years Bitcoin will be number 1 choice for the worldwide payment transfers.

Great chart and a nice to see visually where we are at in comparison
to others. What would make a huge difference is if more online marketplaces
like EBAY would initiate an option to pay with Bitcoin. Buyers and sellers who
are not currently using Bitcoin would possibly consider entering the market.

One of the biggest problem with this is that most of the people don't know about bitcoin, still. If they manage to get some, then the problem will be the price.
For the buyers: they calculate and buy the neccessary bitcoin at certain price, e.g. $4,000 Later on, when they want to spend it, the price is $3,200 so it's not enough to buy the item. (if the price is $5,000 then there's no problem)
For sellers: If the seller doesn't exchange the bitcoin they get for the item immediately (e.g. because they're sleeping at night) next morning the bitcoin price could get them into loss.
If people start to get income in bitcoin, then it will be much better, because the exchange rate will be unnecessary to calculate with.

[nutildah]

That's really a great news to see that we are gaining momentum but still, this is just a single step towards global crypto
One of the biggest problem with this is that most of the people don't know about bitcoin, still. If they manage to get some, then the problem will be the price.
For the buyers: they calculate and buy the neccessary bitcoin at certain price, e.g. $4,000 Later on, when they want to spend it, the price is $3,200 so it's not enough to buy the item. (if the price is $5,000 then there's no problem)
For sellers: If the seller doesn't exchange the bitcoin they get for the item immediately (e.g. because they're sleeping at night) next morning the bitcoin price could get them into loss.
If people start to get income in bitcoin, then it will be much better, because the exchange rate will be unnecessary to calculate with.

Yeah unfortunately a steep price tag and transaction fee will put BTC out of the reach of availability for most people. Why use bitcoin for something that Western Union does for cheaper and PayPal can do for free? I don't see merchants in a rush to adopt altcoins, though, as the general public is still having a hard time wrapping its head around bitcoin.

[Melissa95]

The bitcoin price broke $4,000 for the first time over the weekend, The bitcoin market cap soared past $70 billion, initiating an event the cryptocurrency community has been anticipating for years: bitcoin now has a greater total valuation than payment-processing behemoth PayPal.

[Dudeperfect]

That's really a great news to see that we are gaining momentum but still, this is just a single step towards global crypto based economy. Here is the summary of transaction volume of various payment methods, even though the data is old but still it gives a little idea of where we stand today and there is a lot more to achieve.


I am sure that in next 10 years Bitcoin will be number 1 choice for the worldwide payment transfers.

Great chart and a nice to see visually where we are at in comparison
to others. What would make a huge difference is if more online marketplaces
like EBAY would initiate an option to pay with Bitcoin. Buyers and sellers who
are not currently using Bitcoin would possibly consider entering the market.

One of the biggest problem with this is that most of the people don't know about bitcoin, still. If they manage to get some, then the problem will be the price.
For the buyers: they calculate and buy the neccessary bitcoin at certain price, e.g. $4,000 Later on, when they want to spend it, the price is $3,200 so it's not enough to buy the item. (if the price is $5,000 then there's no problem)
For sellers: If the seller doesn't exchange the bitcoin they get for the item immediately (e.g. because they're sleeping at night) next morning the bitcoin price could get them into loss.
If people start to get income in bitcoin, then it will be much better, because the exchange rate will be unnecessary to calculate with.

I don't think the price of Bitcoin is going to remain stable for more than 2 to 3 months anytime within (at least) next 10 years. However, I believe that the graph of growth will be pointing upwards in that period so even, in that case, people would not hesitate to deal with the volatility in the price, as far as they are either earning speculative gains or utility value from the Bitcoins that they are holding with them. That would help Bitcoin to maintain its growth momentum.

[joepino2k1]

Over $70B for bitcoin came as a surprise. This is just the beginning, I hear goldman is planning on investing heavily on BTC. Paypal cant stand a chance in 5 years time compared to BTC. This is a true financial revolution we have been waiting for!!!