Why should I use Bitcoin instead of Paypal?

[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..

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.

Name a few of the first part.
Second , you just summarized what I've being trying to say and David's concerns for the time being.
You've basically agreed with me , so why the harsh words at the end ?

[evoked22]

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?

I would love to contribute through design. I wanted to make a 10 reasons why bitcoin is winning and paypal is not. Then list the points and put WIN and FAIL for respective oppositions.

Either way, i think its a great idea

[stuffcoins]

Paypal blocks me from purchasing ebay items and having it shipped to friends overseas. Sometimes if the shipping address isnt in the same country as the billing address on Paypal they just say no during checkout.

[kazzy]

Because paypal's chargeback policy is bullshit. I lost an iPad because of them.

[Altoidnerd]

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?

Paypal can charge you without your knowledge or permission.  Paypal can hold or seize your funds. 

When you have bitcoins, only you can use or lose them.  It's radically different.

[AlbertKing]

I dont know why you guys hate a third party so much. paypal may make a bad customer experience, however we have a much better third party company called "zhifubao" here in china, everybody loves it, everybody use it. In fact we trust it even more than a bank.

Conceptually bitcoin is good, however it has a long road to go until everybody use it(if it reach that day). We love "zhifubao" in china because if we receive a defected item, we could always refuse to pay the money, it makes the buyers safer(sellers too because if a buyer refuse to pay, he/she has to give the concrete evidence).

And it's quick.

For bitcoin, 5 confirmation? way too long.

And I can't get my coins back if the seller fraud me ? Hell I won't use it at all.

I guess that's why coinbase got its 30million dollars capital. However what makes it better than just a nother third party using bitcoin instead of any other currency?  I'd say it's cross border trading, if any.

My 2 cents here.

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?

[beetcoin]

I dont know why you guys hate a third party so much. paypal may make a bad customer experience, however we have a much better third party company called "zhifubao" here in china, everybody loves it, everybody use it. In fact we trust it even more than a bank.

Conceptually bitcoin is good, however it has a long road to go until everybody use it(if it reach that day). We love "zhifubao" in china because if we receive a defected item, we could always refuse to pay the money, it makes the buyers safer(sellers too because if a buyer refuse to pay, he/she has to give the concrete evidence).

And it's quick.

For bitcoin, 5 confirmation? way too long.

And I can't get my coins back if the seller fraud me ? Hell I won't use it at all.

I guess that's why coinbase got its 30million dollars capital. However what makes it better than just a nother third party using bitcoin instead of any other currency?  I'd say it's cross border trading, if any.

My 2 cents here.

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?

well, we hate paypal because they have a reputation of "protecting" buyers by screwing over sellers, and gradually charging exorbitant fees for their services. whatever paypal/ebay do, it is in the interest of swalling anything and everything in its path.. for the sake of dominance.

[Sephera]

Paypal charged me $5 for a $125 transaction.

[beetcoin]

Paypal charged me $5 for a $125 transaction.

that sounds about right.. probably something like $4.30 or something around there. and if you sold on ebay, don't forget to add another $15 or so. seems like they keep ebay and paypal technically separate so they can double charge the fees.

[Elwar]

In all honesty, PayPal is a good thing. It was a revolutionary way of sending money over the Internet which is badly needed and helped to improve commerce online for millions of people.

But it was a transitional solution which required a central company to work on it in order to take it through the baby steps in the beginning to the point where people are comfortable with sending money online today.

Bitcoin improves upon this idea and takes away the overhead and complication of a central solution and distributes it. This allows for the added benefits that Bitcoin provides in an environment where online transactions are the norm without the need to completely revolutionize the way people think about spending money.

[johnyj]

The question should be: Should paypal use bitcoin instead of USD? And the answer is no, they serve different purpose, like comparing nuclear warheads against pistol bullets

Bitcoin is a digital asset, which is more suitable for other much more important things than online shopping

[vesperwillow]

Another thing I just remembered, relating to "paypal being involved in politics" under my original post: Paypal doesn't like it when you use their service to buy anything gun related (even accessories), whether it's from an official store or not.

If that matters to anyone. But the fact they won't let you use your money on a product because they deem it unworthy, is unsatisfactory.

[guybrushthreepwood]

Another thing I just remembered, relating to "paypal being involved in politics" under my original post: Paypal doesn't like it when you use their service to buy anything gun related (even accessories), whether it's from an official store or not.

If that matters to anyone. But the fact they won't let you use your money on a product because they deem it unworthy, is unsatisfactory.

They ban you from using it on a lot of things, like shops from the sex industry or other such stuff they deem 'unsavoury'.

[eatrader]

Paypal charged me $5 for a $125 transaction.

Sounds like usury rates when compared to Bitcoin.

[eatrader]

These answers are amazing.  I would argue that 70+ replies is the reason that "I" should use Bitcoin.  Head over to r/Ebay and all you see is horror stories and problems, but in the Bitcoin world, there is a community bound together to assist.  

The judicial systems around the world attempt to build a foundation of "forced" trust in business deals. Enormous costs are associated in creating, managing, and enforcing these systems.  Judges, lawyers, and law enforcement to name a few.  Bitcoin erases the need for these systems, in order to have a trusted transaction.  It is this judicial system.  And to that end, Bitcoin is liberty and freedom.  Freedom from the need of these systems that are shaped by lobbyists and political agendas.  The founding fathers of the US believed in Liberty and Freedom.  They taught us that when the government fears the people you have Liberty, but when the people fear government, you have tyranny.  Tyranny is the breading ground for improper allocation of public resources, even from the most altruistic person/entity.  

Paypal simply leans on the judicial system to run an online payment processing service.  They sit as judge and jury because they know that they can lean on the judicial system if needed.  There really is no other way to play the game in that world.  They are credited for being a snitch once in a while.  Give a few to slaughter, so the public systems don't look over the fence and start putting more restrictions on Paypal.  I say they are doing a pretty good job overall.  What you are telling me is there will always be a place for PayPal.  There is not contempt within Bitcoin community for Paypal, and I am actually relieved.  The story has more merit than ever because of this fact.

I simply chose Paypal because of it's adoption.  Not to beat them up.  I think the world needs to understand that the Bitcoin community is not bashing them.  Especially in light of this article  http://www.cryptocoinsnews.com/2013/12/11/paypal-president-david-marcus-bitcoin-good-nfc-bad/. But the public needs to be educated on the benefits of using Bitcoin to transact.

My next step is to PM some of the people on this thread.  Some suggested interviews so I will reach out.  This story needs to be explained properly.  

[vesperwillow]

There's definitely a place for PayPal, and similarly, cryptocurrencies such as Bitcoin. Good way to sum it.

[eatrader]

Had a discussion with the guys. Caleb really wanted to write this one.  He did a great job. Enjoy!

http://www.cryptocoinsnews.com/2013/12/18/bitcoin-vs-paypal/

[vesperwillow]

Good read, hope to see more positive articles.

[cowandtea]

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?

Avoid tax
Avoid fees

[bryant.coleman]

Avoid tax

There are a lot of limitations as far as this aspect is considered. If it is a small number of coins, then it is fine. But how can you cash out hundreds of coins without alerting the tax authority? I have no idea.