Paypal is the first digital currency...

[Vera Tech]

I hate Paypal very very VERY Much. It's so retarted, even PerfectMoney is better in performance than PP.

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[swaptaker]

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...

It's really a centralized company and they never had a target to be a coin. Their purpose is to get profit from peer to peer transactions, that's all. It cannot be a coin, their executive team won't announce issue of a coin for paypal.

[BogdanGFTP]

Paypal is digital paying system, and they don't need to be a currency. And they of course don't need to be a cryptocurrency. They have fast speed of transactions, good security and nice usability, what cryptocurrencies don't have.

[cryptocrusher]

Paypal is digital paying system, and they don't need to be a currency. And they of course don't need to be a cryptocurrency. They have fast speed of transactions, good security and nice usability, what cryptocurrencies don't have.

Many cryptocurrencies have fast transactions, good security and nice usability, they just aren't yet established like paypal, eventually paypal will be rivaled by a crypto service that will be able to offer much lower fees than paypal do currently.

[lionheart78]

One of the reason is that paypal already exist even before bitcoin.  Aside from that paypal have lots of bank partners that is quite hostile to cryptocurrency.  They have the proven method and they do not want to explore in an uncertain charter.  probably they will on the next decade

[Biitcoin]

PayPal is to be moral in something immoral) PayPal works in a regulated environment. If you do not like someone (the powerful of this world), then your money is weeping. Bitcoin passes the banks! Bitcoin is the answer to the financial crisis that undermined confidence in the global financial system. All currencies depend on the dollar, and the exception is bitcoin. The one who controls money controls the world.

[Jalum]

I hate Paypal very very VERY Much. It's so retarted, even PerfectMoney is better in performance than PP.

I don't like PayPal that much as well. I know that the people here will change their minds if PayPal decided to implement BTC into their payments.

[g4r1n1m]

like people told you.. paypal is not like a currency its more like a service for currencies
i would like to use coins in paypal
it will happen soon.. if not paypal, so other companies like paypal

[Bergiolia]

like people told you.. paypal is not like a currency its more like a service for currencies
i would like to use coins in paypal
it will happen soon.. if not paypal, so other companies like paypal

indeed, paypal is just like a debit account that needs to be filled up by US dollar money before you can use it as payments for products and other services.
PayPal had been around since 2006 but I think Mr. Satoshi Nakamoto had getting this kind of idea and this is one reason also that drives him to make Cryptocurrency because he knew that the world needs cryptocurrency as the replacement of fiat.

[sourish]

One is history, the other the future. There are no similarities or any comparison between the two except maybe meeting similar challenges and the effort to overcome them.

[zidanaltaer]

is it true paypal is first digital currencies? I think paypal is only a platfom provider only for those who want to use the services of intermediaries for buying and selling, but paypal pioneered the creation of new tokens such as monetha and utrust recently, it is great for competition and future improvement

[pawanjain]

I suppose there is a huge difference between 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.

[Bergiolia]

is it true paypal is first digital currencies? I think paypal is only a platfom provider only for those who want to use the services of intermediaries for buying and selling, but paypal pioneered the creation of new tokens such as monetha and utrust recently, it is great for competition and future improvement

It is being said that Mr. Satoshi Nakamoto got ideas from paypal that it could be enhanced and to be called Cryptocurrency because PayPal is just a digital fiat that only spendable only if you put amount before you can use it as payments for products and other services on the internet.
Blockchain just came up with an idea from different existing digital money like PayPal so that's why PayPal isn't away of being the first digital currency in the market today.

[manlyxman]

As much hate as paypal might get, it's still important very important.

It was important when it was first introduced and revolutionized online bankings. Nowadays, it's still one of the best ways to send money online I think, despite the fees and the shortcomings.

[Bergiolia]

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.

[rumexx]

Cryptocurrency is backed by Blockchain which assure of its timely delivery and correct data storage and recovery. These are the major difference between Bitcoin and paypal.

[Xioma]

Can anyone explain the hate behind paypal? I use it a lot but I'm open to other alternatives, preferably ones with a lower fee percentage.

[Dydot]

Firstly, i like your thread topic. It will make someone wanna open it to see your reason for calling paypay a cryptocurrency.
I am sure you yourself know that Paypal is not a cryptocurrency. Paypal and bitcoin are two different things entirely. Paypal is a payment gateway and not a digital currency like bitcoin. I guess Mr. Satoshi sees the need to improve on the existing online payment system then and hence the blockchain technology.

[khendjer]

PayPal is not a digital currency by itself cause it's a payment system. They didn't make a new currency, they just make possible to spend fiat currencies online.

[Fioraver]

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 not a digital currency and never claimed to be one. PayPal is just a wallet that you transfer your money into and then from it.