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Author Topic: [2019-09-09] Comparing Bitcoin to PayPal Makes no Sense  (Read 265 times)
barbara44
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September 14, 2019, 01:15:32 PM
 #21

Finally someone concluded that Bitcoin and PayPal can't be compared. To my opinion you can't compare something that is not the same kind and PayPal is just payment service and Bitcoin is cryptocurrency.  So to compare them makes no sense but for some reason people do that.
I am not sure that people have that shallow thinking to have ever thought PayPal is same as bitcoin, when there is no correlation between them at all if you compare both systems. PayPal strictly deal with fiat, and you only use it as means to move your fiat from one destination to another which is even full of so many restrictions.

If PayPal is to serve as crypto, they have to be able to spend PayPal and not deal on fiat at all again, and that is never involved in the system of PayPal. Bitcoin was totally designed to be spent as a currency, and normally it should not have anything to do with fiat, but we are still associating the value to fiat because it is new, but one can still spend bitcoin without converting it to fiat to those who would accept it as payment currency.
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September 14, 2019, 02:13:41 PM
 #22

Paypal is not a digital currency while Bitcoin is a digital currency which is very volatile in nature. So there is no point of comparing Paypal to Bitcoin. If we talk about international transactions there are other players as well like Netteller, Skrill and many more but transferring funds through blockchain technology be it in the form or ETH or BTC is very cheap and fast. Due to last bear trend and no clear govt stand on crypto people are hesitating to use BTC and ETH or any other cryptocurrency for international transactions, any positive statement can increase it use within no time.

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September 14, 2019, 02:57:08 PM
 #23

As usual, it makes no sense at all. How can you compare bitcoin to Paypal if they are not the same, right? Bitcoin is a cryptocurrency and Paypal is a payment system and it is dollar base. Nevertheless, if I were to choose I would definitely choose bitcoin rather than Paypal because I know that it will be a good help to me compare to Paypal. We are just comparing here a bar of gold and the bank which bank is Paypal that only a payment system not a currency.
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