Will Bitpay overtake Paypal in the near future (i.e before 2016)?

[bryant.coleman]

Recently I am hearing a lot of positive news about the Bitcoin payment processor Bitpay. So my question is, how long it'll take for Bitpay to overtake Paypal?

Actually I wanted to ahve an online poll, but I don't know how to incorporate poll to new thread.

Please select from the following options:

a) No. Paypal will remain the market leader for many many decades to come.

b) No. But another Bitcoin payment processor will overtake Paypal in the distant future.

c) No. But another Bitcoin payment processor will overtake Paypal in the near future.

d) Yes.

e) Yes. But only in the distant future.

[Rob768]

There is also Coinbase which seems to be picking up steam as well.  I dont think it will overtake paypal in 2-3 years, but perhaps 5-7  you never know.

[beetcoin]

i strongly doubt that's going to happen before 2016.. but if bitcoin starts to pick up steam, i think paypal will do whatever it can to stop the development of bitcoin. a lot of people are fed up with paypal, more than any other payment processor i can think of.

[Serge]

highly unlikely before 2016, but you never know, one thing bitcoin thought me to not underestimate it

on another note, since i suspect many don't know it, PP has invested in BitPay through their venture Founders Fund

[bryant.coleman]

i strongly doubt that's going to happen before 2016.. but if bitcoin starts to pick up steam, i think paypal will do whatever it can to stop the development of bitcoin. a lot of people are fed up with paypal, more than any other payment processor i can think of.

The fees charged by Paypal is much more than that levied by Master / Visa. Their currency conversion charges are also ridiculous.

So.... isn't there a chance that if faced with increasing competition from Bitpay.etc, PP will reduce their charges?

[allthingsluxury]

I doubt it will over take it by 2016. But it will definitely cause them a lot of headaches going forward.

[Desensitizer]

i strongly doubt that's going to happen before 2016.. but if bitcoin starts to pick up steam, i think paypal will do whatever it can to stop the development of bitcoin. a lot of people are fed up with paypal, more than any other payment processor i can think of.

Paypal is incredibly convenient and almost universally adopted by the main seller sites online. I know that I myself love Paypal to death and cannot imagine online commerce without it. I think it will be much farther than 2016 if ever.

[bryant.coleman]

I doubt it will over take it by 2016. But it will definitely cause them a lot of headaches going forward.

Lol... that should be the case. Personally saying, I am not too much concerned whether Bitpay will overtake PP or not (although it will be really good if it happens). If PP reduces their fees in order to be competitive against Bitpay, it will be a great victory for the digital currency.

Paypal is incredibly convenient and almost universally adopted by the main seller sites online. I know that I myself love Paypal to death and cannot imagine online commerce without it. I think it will be much farther than 2016 if ever.

It'll be interesting to hear your opinion on their fees and other charges.

[Ekaros]

It depends if Paypal get's real (fiat-based) competitors in market that overtake it.

So it's more of destruction of Paypal and less about bitcoin-based provider overtaking it. And I don't see bitcoin overtaking it ever.

Not that paypal isn't horrible company. They work if you are on paying side, but on receiving...

[beetcoin]

I doubt it will over take it by 2016. But it will definitely cause them a lot of headaches going forward.

Lol... that should be the case. Personally saying, I am not too much concerned whether Bitpay will overtake PP or not (although it will be really good if it happens). If PP reduces their fees in order to be competitive against Bitpay, it will be a great victory for the digital currency.

Paypal is incredibly convenient and almost universally adopted by the main seller sites online. I know that I myself love Paypal to death and cannot imagine online commerce without it. I think it will be much farther than 2016 if ever.

It'll be interesting to hear your opinion on their fees and other charges.

i know my opinion is that.. fuck paypal. i sell some on ebay and the fees are about 15% per item i sell (ebay+paypal fees). that's pretty god damn exorbitant to me, as i can't imagine them needing more than 4% for expenses. what i hate the most is that they seem to raise the fees on an annual basis, and they try to spin it as "good news to you."

[bryant.coleman]

I know my opinion is that.. fuck paypal. i sell some on ebay and the fees are about 15% per item i sell (ebay+paypal fees). that's pretty god damn exorbitant to me, as i can't imagine them needing more than 4% for expenses. what i hate the most is that they seem to raise the fees on an annual basis, and they try to spin it as "good news to you."

The folks behind Ebay are another greedy bunch. I am still mourning the demise of Bitmit. They were a great alternative to Ebay. I don't know why they closed down the site, when everything was going exceedingly well.