Why should I use Bitcoin instead of Paypal?

[MikeyVeez]

As a buyer you shouldn't as paypal is one of the most buyer friendly services around including protection, hence why sellers hate it. Yes we always here sellers complaining they reward buyers most of the cases, which if sellers take proper preqautions such as signature confirmation they can protect themselves from scams. Yes please come on here and tell us how you did all of this and paypal still screwed you, guess what your a minority.

Only reason to use bitcoin is if your a scammer who sell crap or phantom products so there is no way to charge back. Or if you enjoy having the price of your currency fluctaute wildly so you have to become a speculative trader and place your order at the peaks to spend the least amount of btc.

Not to mention fees from different exchanges add up way more than paypal.

[MikeyVeez]

In a bunch of countries you cant even cash out your balance to a CC which is pretty ridiculous .

Please tell us how great it is to cash out of gox with 1 month delays. In normal developed countries paypal has a credit card which has your balance on it and you can use it directly.

[LatestBTC]

A few months ago i sold 15 LTC on ebay. The buyer used a hacked paypal account to pay for them.
I recived a chargeback so i opened a paypal dispute but was told becuase i sold "virtual goods" i was not covered with paypal buyer protection.

Lesson learned and faith lost in paypal.

Those LTC would be worth $458 right now 

[MikeyVeez]

A few months ago i sold 15 LTC on ebay. The buyer used a hacked paypal account to pay for them.
I recived a chargeback so i opened a paypal dispute but was told becuase i sold "virtual goods" i was not covered with paypal buyer protection.

Lesson learned and faith lost in paypal.

Those LTC would be worth $458 right now  

Yes lose faith in paypal because you broke ebay and paypals policies. I guess if you sent bitcoin to a scammer or a random address and found out bitcoin transactions are not reversible you would lose faith in bitcoin?

[guybrushthreepwood]

A few months ago i sold 15 LTC on ebay. The buyer used a hacked paypal account to pay for them.
I recived a chargeback so i opened a paypal dispute but was told becuase i sold "virtual goods" i was not covered with paypal buyer protection.

Lesson learned and faith lost in paypal.

Those LTC would be worth $458 right now  

Yes lose faith in paypal because you broke ebay and paypals policies. I guess if you sent bitcoin to a scammer or a random address and found out bitcoin transactions are not reversible you would lose faith in bitcoin?

Paypal should front the money out of their own pocket. It's not just digital goods they do this for.

[vesperwillow]

Only reason to use bitcoin is if your a scammer who sell crap or phantom products so there is no way to charge back. Or if you enjoy having the price of your currency fluctaute wildly so you have to become a speculative trader and place your order at the peaks to spend the least amount of btc.

Not to mention fees from different exchanges add up way more than paypal.

The only reason for bitcoin is to scam people? That's insane.

Also, paypal charges you 3% average to receive money/payment. When was the last time you made a $1,000 btc transaction and lost 3%?

[MikeyVeez]

Only reason to use bitcoin is if your a scammer who sell crap or phantom products so there is no way to charge back. Or if you enjoy having the price of your currency fluctaute wildly so you have to become a speculative trader and place your order at the peaks to spend the least amount of btc.

Not to mention fees from different exchanges add up way more than paypal.

The only reason for bitcoin is to scam people? That's insane.

Also, paypal charges you 3% average to receive money/payment. When was the last time you made a $1,000 btc transaction and lost 3%?

What? Buying bitcoins on whatever exchange with whatever funding cost is already 3%+ converting said bitcoin back into fiat and withdrawing is another 3%+

Unless you can pay for all your things in Bitcoin which for 99% of things you cant.

[Kenshin]

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?"  This will serve to help the undecided to take the plunge.


So, why should I use Bitcoin instead of Paypal?

Because PayPal can freeze your account when ever they feel like, and for what ever reason they feel like. I hope PayPal close down in the future, thanks to Bitcoin.

[vesperwillow]

Only reason to use bitcoin is if your a scammer who sell crap or phantom products so there is no way to charge back. Or if you enjoy having the price of your currency fluctaute wildly so you have to become a speculative trader and place your order at the peaks to spend the least amount of btc.

Not to mention fees from different exchanges add up way more than paypal.

The only reason for bitcoin is to scam people? That's insane.

Also, paypal charges you 3% average to receive money/payment. When was the last time you made a $1,000 btc transaction and lost 3%?

What? Buying bitcoins on whatever exchange with whatever funding cost is already 3%+ converting said bitcoin back into fiat and withdrawing is another 3%+

Unless you can pay for all your things in Bitcoin which for 99% of things you cant.

Not talking about buying bitcoin, I'm talking about simply sending or receiving money. If you have a balance on paypal (same as having BTC in an exchange), and you send/recv, there is a 3% minimum loss for at least one of the parties.

If you send BTC, nobody is charged anything close to that.

[MikeyVeez]

Only reason to use bitcoin is if your a scammer who sell crap or phantom products so there is no way to charge back. Or if you enjoy having the price of your currency fluctaute wildly so you have to become a speculative trader and place your order at the peaks to spend the least amount of btc.

Not to mention fees from different exchanges add up way more than paypal.

The only reason for bitcoin is to scam people? That's insane.

Also, paypal charges you 3% average to receive money/payment. When was the last time you made a $1,000 btc transaction and lost 3%?

What? Buying bitcoins on whatever exchange with whatever funding cost is already 3%+ converting said bitcoin back into fiat and withdrawing is another 3%+

Unless you can pay for all your things in Bitcoin which for 99% of things you cant.

Not talking about buying bitcoin, I'm talking about simply sending or receiving money. If you have a balance on paypal (same as having BTC in an exchange), and you send/recv, there is a 3% minimum loss for at least one of the parties.

If you send BTC, nobody is charged anything close to that.

Who cares if you send bitcoin.  Bitcoin without conversion into fiat is useless, as 99% of things don't accept it. In the future if you can pay for things with bitcoin then it will have an advantage. Until then transfering without conversion is useless.

[TheFootMan]

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?"  This will serve to help the undecided to take the plunge.


So, why should I use Bitcoin instead of Paypal?

How much research did you do before you posted this question? If you'd done a day or so of extensive research, it would be pretty clear what the pro's and con's are with both alternatives. In the future, before posting, please do research yourself first, then ask if you have intelligent and informed questions that you couldn't find the answer to by googling.

I wondering what your 'article' is going to look like if this is the level of effort you put into your 'research'.

[vesperwillow]

Who cares if you send bitcoin.  Bitcoin without conversion into fiat is useless, as 99% of things don't accept it. In the future if you can pay for things with bitcoin then it will have an advantage. Until then transfering without conversion is useless.

It's relevent to the OP. PayPal can be used to send money between people. It takes a chunk out of the money when you do so, regardless of if you pull the actual money out physically. Bitcoin can be used to send money between people, with next to no fee, regardless of if you pull the money out.

I dunno bout your exchange experience, but the last time I cashed out several grand of BTC through coinbase, I think the fee was like.. a few bucks. Several grand with paypal would be close to a hundred bucks of fees.

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?"  This will serve to help the undecided to take the plunge.


So, why should I use Bitcoin instead of Paypal?

How much research did you do before you posted this question? If you'd done a day or so of extensive research, it would be pretty clear what the pro's and con's are with both alternatives. In the future, before posting, please do research yourself first, then ask if you have intelligent and informed questions that you couldn't find the answer to by googling.

I wondering what your 'article' is going to look like if this is the level of effort you put into your 'research'.

I'm wagering he wanted real-life personal input/experiences. Better for an article than bullet points.

[MikeyVeez]

Who cares if you send bitcoin.  Bitcoin without conversion into fiat is useless, as 99% of things don't accept it. In the future if you can pay for things with bitcoin then it will have an advantage. Until then transfering without conversion is useless.

It's relevent to the OP. PayPal can be used to send money between people. It takes a chunk out of the money when you do so, regardless of if you pull the actual money out physically. Bitcoin can be used to send money between people, with next to no fee, regardless of if you pull the money out.

I dunno bout your exchange experience, but the last time I cashed out several grand of BTC through coinbase, I think the fee was like.. a few bucks. Several grand with paypal would be close to a hundred bucks of fees.

I am considering writing an article of the advantages of Bitcoin over Paypal. Answering the question "Why should I use Bitcoin instead of Paypal?"  This will serve to help the undecided to take the plunge.


So, why should I use Bitcoin instead of Paypal?

How much research did you do before you posted this question? If you'd done a day or so of extensive research, it would be pretty clear what the pro's and con's are with both alternatives. In the future, before posting, please do research yourself first, then ask if you have intelligent and informed questions that you couldn't find the answer to by googling.

I wondering what your 'article' is going to look like if this is the level of effort you put into your 'research'.

I'm wagering he wanted real-life personal input/experiences. Better for an article than bullet points.

Ok since you clearly want to argue meritlless points.

1. When you use paypal since you are transfering fiat you can use it for 100% for buying products or services. When you use bitcoin you can do anything with it without exchanging it to fiat.

2. In the US if you exchange Bitcoin to Fiat it is illegal without a Money Service Business license.

3. If you want to use your "money" for anything use paypal, if you want your money to become useless use bitcoin.

Lastly, like the other user said before 5 min of research would of answered your question.

[jones31]

Funny how everybody was saying PP is evil , PP is the root of all problems.
Then an interview appeared with David Marcus.
The whole board turned: Paypal is adopting bitcoin!  Yeah!!! To the moon!

This is both funny and sad to watch.

[hilariousandco]

Funny how everybody was saying PP is evil , PP is the root of all problems.
Then an interview appeared with David Marcus.
The whole board turned: Paypal is adopting bitcoin!  Yeah!!! To the moon!

This is both funny and sad to watch.

As much as I dislike paypal and its polices, if PP accepted Bitcoins it would be great for Bitcoin in general.

[guybrushthreepwood]

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

[jones31]

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

[guybrushthreepwood]

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

Yeah, hundreds of millions is a lot of money to Paypal. And if the value of BTC decreases, you just hold the Bitcoin until it regains value.

[jones31]

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

Yeah, hundreds of millions is a lot of money to Paypal. And if the value of BTC decreases, you just hold the Bitcoin until it regains value.

Do you think they could just hold millions in BTC and wait for another price rise?
They don't deal with investments , they have a total different plan based on liquidity.

Try to read the interview David gave , and you'll see their concerns . And they have some real arguments why they don't embrace bitcoin yet.
And he isn't a bitcoin hater , he owns a few bitcoins himself.

Stop being a hot blooded zealot and analyze a bit the whole picture for a few..

[guybrushthreepwood]

Paypal and ebay are missing out on millions in revenues by not dealing with or accepting cryptos. I'm surpised they haven't built their own exchange.

You know what millions , is to paypal?
They are pretty confident at the numbers they are rolling out right now.
And , you can see that people are selling and buying btc and mining equipment on e-bay even right now.

The thing is , imagine the hit bitpay received when the price plummeted right after they made all those sales (including 300kusd worth in just 2 cars).
The big guys are not willing to risk billions on this (not millions).

Yeah, hundreds of millions is a lot of money to Paypal. And if the value of BTC decreases, you just hold the Bitcoin until it regains value.

Do you think they could just hold millions in BTC and wait for another price rise?
They don't deal with investments , they have a total different plan based on liquidity.

Try to read the interview David gave , and you'll see their concerns . And they have some real arguments why they don't embrace bitcoin yet.
And he isn't a bitcoin hater , he owns a few bitcoins himself.

Stop being a hot blooded zealot and analyze a bit the whole picture for a few..

There are plenty of people, groups and companies holding millions in BTC. I'm well aware of his and others concerns, but Bitcoin isn't going to be in bubbles for its entire existence.

Stop being a closed-minded fool and analyse the bigger picture for a bit.