Paypal is the first digital currency...

[muhdatha]

Heh.. Do you know Ebay decided 'divorse' with PayPal?
Yes! Becouse PayPal is not so convenient and expensive (about 4% per transaction).
Ebay looked on Amazon and Alipay (they accept more than 200 different payment methods) ......and  have already  choose Swedish payment system as a main partner.

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[Luxrid]

PayPal is debit account for fiats at the moment and cryptocurrencies are blockchains.
If PayPal decide to have their own coin on blockchain that would be the point of this thread.

[pawanjain]

I suppose there is a huge difference between the two PayPal and cryptocurrency at first sight:
- centralized system of PayPal and decentralized system of cryptocurrencies
- blockchain based transactions and balances of wallets are public
- transaction via PayPal can be returned, not like for cryptocurrencies
...

The first and the biggest difference here would be the type of currency. Cryptocurrencies, as the name says, are cryptographic currencies which are encrypted end to end whereas paypal supports digital currencies which are jsut a digital form of fiat currency. So there is a huge difference between the both.
Both use totally different technologies and platforms. Both have different uses and abilities.
I dont Nakamoto was inspired by PayPal but he wanted to change the way banking and financial platforms provide their services. Crypto is always best when compared to paypal or any other digital currency.

I got your point. Blockchain is cryptographic encryption on both end and most of them were decentralized and uses multiple servers for verification
but PayPal and Visa were using single data server that would verify the transactions between wallets.
So, this things and differences are one of the reasons why Mr. Satoshi Nakamoto got an idea that the world couldn't rely on Paypal and Visa credits as the replacement of Fiat but will be another revolution os technology that will transform into Cryptocurrency.
this fact had been mention on The Satoshi Revolution as well.

Yeah we can say it in a way that Nakamoto was influenced by it and wanted to optimize the financial system and rather created his own. Paypal and Visa are still associated with fiat currencies which is why I don't like it. Since the data is verified on both ends , it provides less/no anonymity than bitcoin. We must definitely thank Nakamoto for creating such a huge platform for us but it would been at a different level if he was still indulged with Bitcoin.

[2stout]

PayPal never was and is not currently a digital currency, but rather a platform and facilitator of fiat transactions; whereas crypto is actual currency.  If anything, PayPal is a wallet you can spend and receive from, fiat funded.  Saying PayPal is digital currency is like saying Electrum is currency instead of a wallet.

[mpufatzis]

I would say that you are right, but Paypal isn't exactly a digital currency. Paypal helps buyers and sellers keeping their credit card numbers secret. It is of a great help indeed for everyone who doesn't want to disclosure them to unknown people.
It is also a ledger keeping the amount money you have spent or what you would expect to get.
It is a centralized system compared to the majority of cryptos today and of course, it makes big money by depositing them in the bank at high-interest rates

[saruxanyan]

I have been using PayPal for a long time, and I feel that this is nothing more than crypto. First, banks need to resolve all my transactions before their processing, which shows how centralized this digital currency is.

[Snakerist]

PayPal has nothing the same with crypto apart the fact that it can carry out transactions globally.

[otunayode]

Paypal is digital currency that is fully centralized and open to abuse and manipulation and unmerited power to regulate users finances and users' life as it were. Bitcoin and cryptocurrency in a matter of years would made PayPal as redundant as steam engine !

[KingScorpio]

I want to hear you guys why PayPal is not a digital currency and maybe Mr. Satoshi Nakamoto saw the benefits of Cryptocurrency after PayPal that's why he came up with the idea and create that simple idea into reality.

Let's talk about it...

paypal is licensed registered under controll by the banksters

bitcoin was created anonymously, outside of the controll of the banksters and their masters,

the banksters are a segment of countries populations that funds and controlls everything, including printing money lending to each other.

they are systematically excluding others

[btcefeyigit]

Those who follow the crypto money exchange know better. PayPal crypto will bring a new excitement to the money world. but they are very different from each other. PayPal is more universal now.

[not altcoin hitler]

PayPal is not a digital currency... PayPal is a centralized online payment provider using FIAT money.

Yes, they use fiat money but with their own version of technology. Its not like Blockchain and they have no plans to implement Blockchain technology because it is not Scalable for PayPal like transactions. Though by centralising it is possible like XRP etc.

[Protected101]

Paypal is decentralized cause it was controlled by bank.It was universal and we used fiat money over it.It is different from crypto that no one can ruled out on digital currency.

[aceat64]

The very personality of Satoshi Nakamoto or a group of people is very popular, because people love riddles, and even more like to build different speculations. Such a discussion is meaningless

[Barcode_]

Paypal is not a digital currency, it is just an online platform that allows users to top up their account in Paypal via bank transfer of funds or credit cards in order to make payment to other users worldwide. Bitcoin is truly the world first digital currency, it is decentralized and users does not need any banks to process their withdrawals or deposits.

[Mister1k]

Paypal is not a digital currency, it is just an online platform that allows users to top up their account in Paypal via bank transfer of funds or credit cards in order to make payment to other users worldwide. Bitcoin is truly the world first digital currency, it is decentralized and users does not need any banks to process their withdrawals or deposits.

People replied all here explained the paypal is not a cryptocurrency. Everyone will be fine understand this. Hope this discussion is one of the worst discussion in this child board.
Paypal is just a shit consuming the huge fees with the approval of Government side to steal all your funds.
So avoid using paypal and swap to segwit enabled bitcoin wallet for cheap fees.

[sycaburatan]

I want to hear you guys why PayPal is not a digital currency and maybe Mr. Satoshi Nakamoto saw the benefits of Cryptocurrency after PayPal that's why he came up with the idea and create that simple idea into reality.

Let's talk about it...

Paypal is indeed the first digital currency that was accepted by the world which is a centralized currency because it is being regulated and its price is fixed and paralled to USD.Satoshi nakamoto might see paypal as a good opportunity to create a currency which is decentralized,his thoughts didnt came from nowhere maybe paypal was his based perpective in creating bitcoin but paypal and cryptocurrency are different.

[Nivelir]

Well, frankly speaking, you probably are right that PayPal was the first service in this regard to transfer funds, but now this service starts to fade temporarily, because now it is possible to send money directly to the cards, why then do I need PayPal

[iqlimasyadiqa]

I want to hear you guys why PayPal is not a digital currency and maybe Mr. Satoshi Nakamoto saw the benefits of Cryptocurrency after PayPal that's why he came up with the idea and create that simple idea into reality.

Let's talk about it...

Paypal is indeed the first digital currency that was accepted by the world which is a centralized currency because it is being regulated and its price is fixed and paralled to USD.Satoshi nakamoto might see paypal as a good opportunity to create a currency which is decentralized,his thoughts didnt came from nowhere maybe paypal was his based perpective in creating bitcoin but paypal and cryptocurrency are different.

I do not think that there is a similarity between paypal and Bitcoin. in theory then paypal is the value of USD substitute with the same value with the prevailing dollar price. While Bitcoin has a value that can change, Bitcoin prices are not based on the USD because Bitcoin has its own value. When compared with the things in the world then Bitcoin as well as gold, Bitcoin has value and the price can increase and decrease. When Bitcoin is needed then Bitcoin prices will automatically increase, while when Bitcoin starts to be unreliable then Bitcoin prices may decrease.

If equated then the use of Bitcoin and paypal is indeed similar, used digitally so it is easy to perform various financial transactions whenever and wherever we are. Bitcoin chooses something much better than paypal. Not everyone can have a paypal account, but I'm sure everyone can have and use Bitcoin easily.

[cryptobrotherz]

I think the second comment (or first response) answered the question perfectly. PayPal is centralized unlike the majority of cryptos. Most importantly the technology (blockchain) that is changing the world is not involved in the paypal system whatsoever. Also cryptos have an avenue for the people (you and me) to enjoy making money and reaping the rewards of being involved. I personally do not like PayPal to much because they cut off Wikileaks from being able to accept money. In affect they were trying to silence them. Crypto is about freedom (at least most cryptos). PayPal is the exact opposite in my opinion

[flower1024]

I do not think that there is a similarity between paypal and Bitcoin. in theory then paypal is the value of USD substitute with the same value with the prevailing dollar price. While Bitcoin has a value that can change, Bitcoin prices are not based on the USD because Bitcoin has its own value. When compared with the things in the world then Bitcoin as well as gold, Bitcoin has value and the price can increase and decrease. When Bitcoin is needed then Bitcoin prices will automatically increase, while when Bitcoin starts to be unreliable then Bitcoin prices may decrease.

If equated then the use of Bitcoin and paypal is indeed similar, used digitally so it is easy to perform various financial transactions whenever and wherever we are. Bitcoin chooses something much better than paypal. Not everyone can have a paypal account, but I'm sure everyone can have and use Bitcoin easily.

Paypal is like a virtual bank. we can deposit our money and withdraw whenever we want. we can use it like a bank. but the value will never change like Bitcoin. and here you can request to refund your money it is possible. have customer support. But Bitcoin is completely different the value will be not stable and there is no customer support if you face any issue. one you send BTC to any address that's it you won't get it back.

Yes using Bitcoin is easy to compare Paypal.