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Author Topic: Do you think Bitcoin will change, like PayPal did?  (Read 199 times)
club45
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August 10, 2018, 06:59:02 PM
 #41

Actually the transaction cost in the bitcoin is low but it is higher in relative term but it needs to make it lower. I think this will happen as the number of users of bitcoin is increasing day by day. So investors need to be calm and give some time to the bitcoin.


No I don't think Bitcoin will change. Maybe it's just getting lower nowadays but I'm thinking it will go higher in a few months.
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August 10, 2018, 07:06:38 PM
 #42

Yes, I think changes are inevitable. Not in the way like PayPal did but with time adjustments will be needed in order to progress further and to preserve position on the market. Nothing can't stay still and frozen in time, development is always needed.
So far Bitcoin doesn't have some serious competition that would endanger it but there is room for improvements that can make Bitcoin even stronger and better.

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August 10, 2018, 08:45:25 PM
 #43

I don't think that we're having an opportunity to bitcoins for being changed, and it is because it is the centralised system what means that nobody rules it so nobody can not willingly go and change it by his desires.

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August 11, 2018, 08:24:45 AM
 #44

bitcoin and paypal are different. paypal in the earlier of their services wants to attract many people to come and use their services and paypal success to get potential buyer and seller to use the service. and from that time, paypal wants to give the best things for their customer, so they change their rule, but they give the best services to their customer. and now bitcoin, I don't know much about the transaction fee, but I am sure that bitcoin still in the development phase and many things need to fix or manage so maybe what Satoshi said that the cheaper transactions will apply on the bitcoin transaction, but everything needs to be done first, right? and we are still in the new phase and bitcoin have a long journey although we are almost on the ten years from the invented. so maybe we need to wait for a while.

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August 11, 2018, 08:29:34 AM
 #45

I think Bitcoin is going to be stronger than PayPal. We all know PayPal has a very good function only in the payment area, but Bitcoin can promote cooperation between more industries.

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August 11, 2018, 08:42:51 AM
 #46

As the world changes, there may arise some new problems for which we have to update our self or find a solution. It may not change like paypal did but changes has to be done to improve the usability.

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August 11, 2018, 09:19:27 AM
 #47

I don't think bitcoin will never change the way paypal has become change but in order to develop there are always some changes is mandatory.

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August 11, 2018, 09:46:55 AM
 #48

Yes, I think changes are inevitable. Not in the way like PayPal did but with time adjustments will be needed in order to progress further and to preserve position on the market. Nothing can't stay still and frozen in time, development is always needed.
So far Bitcoin doesn't have some serious competition that would endanger it but there is room for improvements that can make Bitcoin even stronger and better.

There's also the threat of becoming publicly traded as futures. I think this is an outside threat because it allows easier access for major investment funds and institutional traders to interfere as they please.

Internally though Bitcoin can't really change, can it? I mean how would they do it if it's so decentralized? Sure, we can introduce new technologies to keep it competitive and more useful, but in terms of a standardized fee or higher commission? That would just result in another fork.
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August 11, 2018, 09:49:07 AM
 #49

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You know, when companies start out, they make these FREE forever promises and then they grow into multinational

companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still

trying to honour that promise or will we turn into another PayPal?

Just reminder that we are supposed to be different than our competitors. Right?
for now i dont think so because too many people didnt know all about this and it is too compilacaated because bitcoin value is flactuating always this is volatility but i think after 50 years maybe? because this cruptocurremcy is a new era .

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August 11, 2018, 09:50:37 AM
 #50

If bitcoin prices were to stabilize the richest people would do the same thing they always do, hold productive assets rather than currency. We could denominate their wealth in bitcoin but they wouldn't need to actually have any in their wallet to do so. Holding a means of exchange isn't advantageous unless you plan to actually make an exchange. Rich folks don't have money, they have appreciating assets.
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August 12, 2018, 07:56:36 AM
 #51

If bitcoin becomes like Paypal which has zero percent chance to happen, it will lose all the support it has gotten so far by the community. Currently whatever position bitcoin is in is only because of the huge amount of trust people showed for BTC and it is one of the features of bitcoin that it hasn't changed over the year.

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August 12, 2018, 08:00:39 AM
 #52

Advantage of PayPal - cheaper fees for most transactions, no waiting for confirmation, higher adoption.

Advantage of Bitcoin - no chargebacks.

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August 12, 2018, 08:42:33 AM
 #53

                                                          --==<  http://prntscr.com/kfd3d4 >==--

You know, when companies start out, they make these FREE forever promises and then they grow into multinational

companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still

trying to honour that promise or will we turn into another PayPal?

Just reminder that we are supposed to be different than our competitors. Right?

Maybe for some people they see it as a risk to trust or not in this project. But Bitcoin is more than Paypal and any other. It has been a great project, and I know that if it changes, it will be to improve.

Doing transactions via Bitcoin is still waaayyy cheap. If you compare it with PayPal that company pays too expensive.
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August 12, 2018, 09:29:35 AM
 #54

Fun fact Elon musk was an inventor of PayPal.

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August 12, 2018, 09:31:32 AM
 #55

Your advantage for Bitcoin is why nobody on eBay will use it... And eBay is PayPal's primary usage. Nobody really uses PayPal otherwise.

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August 12, 2018, 09:32:30 AM
 #56

All things considered the exchange cost in the bitcoin is low however it is higher in relative term yet it needs to influence it to lower. I think this will occur as the quantity of clients of bitcoin is expanding step by step. So financial specialists should be quiet and give some an opportunity to the bitcoin.

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August 12, 2018, 11:01:10 AM
 #57

                                                          --==<  http://prntscr.com/kfd3d4 >==--

You know, when companies start out, they make these FREE forever promises and then they grow into multinational

companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still

trying to honour that promise or will we turn into another PayPal?

Just reminder that we are supposed to be different than our competitors. Right?

Yes the comparison of paypal with the bitcoin is really a good example and i believe Bitcoin will also developed soon as same as the paypal did few years back and it will rule the Financial markets all over the world. Right now the transactions fees and charges are been a great headache for everyone who are attached to the Bitcoin and Cryptocurrency and once we overcome from this headache we are sure to see some changes in the bitcoin soon.

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August 12, 2018, 11:09:16 AM
 #58

I don't think so because btc is another thing and it doesn't have any similar features to my mind, i don't see any. I think that btc has great potential and it will be great to use it instead of dollar

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August 12, 2018, 11:40:50 AM
 #59

                                                         --==<  http://prntscr.com/kfd3d4 >==--

You know, when companies start out, they make these FREE forever promises and then they grow into multinational

companies with profit driven goals and all of this amounts to lies. Satoshi promised us "cheaper" transactions... Are we still

trying to honour that promise or will we turn into another PayPal?

Just reminder that we are supposed to be different than our competitors. Right?

Paypal isn't a competitor, both Bitcoin and Paypal are different. Paypal is a payment processor and Bitcoin a currency hence can't be compared.
As a company Paypal needs to make profits otherwise there is no use to create one. Comparing the fees it's also not much comparable, yes with Paypal you can send and receive money without a fee but it's a minority, the major transactions are done with merchants and a fee is involved so.
Still, if you really want to compare Paypal VS Bitcoin I would say the fees may be cheaper with Bitcoin and another advantage is Bitcoin doesn't forbid some countries or some merchants like Paypal is doing

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August 12, 2018, 12:04:05 PM
 #60

That's right, it's very phenomenal bitcoin or cryptocurrency in general. Merdeka believes in Satoshi who has never seen his nose, just by making Fomo a price as a free promotion. Many new investors are investing in bitcoin.

For myself, I have been out of bitcoin investment since the highest price at the beginning of the year.

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