10 Years From Now: Bitcoin Overtaking PayPal?

[Artemis3]

I think that it is hard for Bitcoin to overtake and replace PayPal 10 years from now. I know that Bitcoin has made a good job until now in 10 years. But Bitcoin has a long way to go to succeed on that I think.

You seem to forget something. Paypal is a company, it can close. Bitcoin is not, therefore the answer is obvious: there will come a time when Paypal is no more, but Bitcoin will continue to exist.

I don't know if you would call that overtaking, i guess it is, simply because people will see less and less reason to use Paypal. The original purpose of Paypal is now gone, it fulfilled a niche while there was no electronic money replacement, but now that there is, as they are right now they are redundant. So unless they embrace the new reality, it will simply cease to exist.

Which is why i gave the earlier suggestion. While many money handling institutions are in the same position, Paypal is far more weak than a Bank.

Thankfully Elon sold the thing while it was worth it, at least we got Electric Cars, and private rockets going orbit from it...

[ReiMomo]

I don't think it will take 10 years in order for bitcoin to overtake Paypal. As well know bitcoin is now more popular in many countries all over the world and in that way there a big possibility that bitcoin can attract more investors after 5 years and might be able to overtake Paypal at that time. But this does not make any sense in comparing both of them, because Paypal is a payment processor while bitcoin can be used as a payment. These are having a huge difference and there's no need for comparison. But one thing that I feel for sure, after 10 years bitcoin is too expensive.

[shield132]

I don't understand at all what's your vision around bitcoin OP, do you look it as a currency or as a payment method or both together? Because in reality it's last one.
Personally I can't even compare currency to a paypal despite the fact that it's payment method too at the same time.
It can't overtake paypal at the moment and there are tons of reasons. At first paypal is strongly supported by merchants and Ebay, one of the major online marketplace, it's also great option for more likely buyers and you know, you run business to meet the demand of customers, otherwise you can't succeed, paypal is great option for businesses to attract new customers because it's most acceptable payment method for various reasons (money refund availability which protects from scams).
Bitcoin isn't as famous as paypal, nor it offers same abilities as paypal. What if paypal decide to integrate bitcoin payments? I think then double win will be for paypal there because it will work better with combination of paypal rather than separately for marketplace usage purposes.

[Lucas*]

We can't compare BITCOIN wit PayPal, it's not the same thing! BITCOIN is a cryptocurrency while PayPal is an financial intermediary where we can transfer our money and make transactions. We can maybe compare PayPal with blockchain but not now, we talk about 5-10 years from now when banks adopt blockchain and work with it.

[cotton ball]

Better use bitcoin as currency payment than use PayPal, PayPal is first currency payment I use for many transaction sell soft ware for my friend with many country in the world, I face many problem with using PayPal because my costumer can complain back their payment sent to me, but with bitcoin as currencies payment they never take back their money because bitcoin not support for using dispute way to get back money.

[Kyraishi]

I think that it is hard for Bitcoin to overtake and replace PayPal 10 years from now. I know that Bitcoin has made a good job until now in 10 years. But Bitcoin has a long way to go to succeed on that I think.

You seem to forget something. Paypal is a company, it can close. Bitcoin is not, therefore the answer is obvious: there will come a time when Paypal is no more, but Bitcoin will continue to exist.

I don't know if you would call that overtaking, i guess it is, simply because people will see less and less reason to use Paypal. The original purpose of Paypal is now gone, it fulfilled a niche while there was no electronic money replacement, but now that there is, as they are right now they are redundant. So unless they embrace the new reality, it will simply cease to exist.

Which is why i gave the earlier suggestion. While many money handling institutions are in the same position, Paypal is far more weak than a Bank.

Thankfully Elon sold the thing while it was worth it, at least we got Electric Cars, and private rockets going orbit from it...

It's a good point - but your also forgetting one of the most crucial things when it comes to PayPal, and other relics that are almost outdated.

People dislike change. If they've been using PayPal and their family has been using PayPal, they'll use that service and likely never change. Even though they might be distracting to deal with, as long as it does it's job, it's fine for them.

That's the main problem with bitcoin - how are going to get these people to change their habits

[bap2000]

That scenario is highly probable, where not only Bitcoins, but also the other Altcoins, must be considered, I believe that the project that makes a well-structured plan for mass use will take that step, because cryptocurrencies are much more practical, they can be use P2P and the costs are lower.

[pooya87]

i don't think we can put a date on something like that. because for bitcoin to "overtake" a big payment system like PayPal it has to first become adopted by nearly as many people as that big payment system has and also it has to reach a much more stable price than this so that people would be more willing to spend it rather than invest in it!
and reaching mass adoption and price stability is something we can not predict. it could take a much shorter time or a lot longer time to get there. the only thing i can say with certainty is that the adoption will continue to grow for many years which means every day bitcoin will be used more for payments.

[Shasha80]

I completely agree with the statement of bitcoin overtaking paypal, the reality is now many who rival paypal including bitcoin. But bitcoin is much
better than paypal. The problem is that besides functioning as a payment, bitcoin is a digital asset too, which is its value can go up if hold. I guess
it doesn't take 10 years to overtaking paypal, I predict in a period of 3 years bitcoin can overtaking paypal. Especially if it's already legal, this
can make paypal close its business. Because bitcoin is supposed to it is legal because it makes a breakthrough in the field of digital currency, but
indeed some parties still make bitcoin unrecognized. One of the banks and the government is still blocking the pace of bitcoin. But as we know bitcoin
can't be stopped, it's only a matter of time when bitcoin will eventually be recognized by the world.

[bounceback]

we all know that paypal is the king of payment as a system of facilitating online transactions while paypal and bitcoin have in common but there are some differences that support bitcoin compared to paypal such as bitcoin transaction fees are cheaper than transaction costs using paypal and for bitcoin profits are not tied to currencies conventional bitcoin is a digital currency for own transactions, so if we look at it now more people use bitcoin compared to paypal.

[Fredomago]

we all know that paypal is the king of payment as a system of facilitating online transactions while paypal and bitcoin have in common but there are some differences that support bitcoin compared to paypal such as bitcoin transaction fees are cheaper than transaction costs using paypal and for bitcoin profits are not tied to currencies conventional bitcoin is a digital currency for own transactions, so if we look at it now more people use bitcoin compared to paypal.

Its not mate,

Bitcoin is still limited in use in most of countries, while paypal can be used in any part of the world, it is free to do any kind of transactions they can, unlike in bitcoin which is very limited. Paypal has still more advantage when it comes to numbers of usage.

Still undeniable that Paypal is more trusted than bitcoin, This payment process have already a established end users who believes with it's existence while bitcoin still trying to convince more and more people to consider the use of this alternative currency. It will take time before it will be decided, whether bitcoin will reach the success where Paypal is mostly used. It's only time who can tell if this innovations thru payment process will be adopted by many users around the world.

[Murat]

I have also a great hope that Bitcoin will be one day less volatile and people will use it as the main payment method but this platform should be fixed a lot of barriers, Like other payment methods, Bitcoin also should be stable and it must be in a regulation process, I am sure when people will get a smooth and stability then they will also start using Bitcoin, Nowadays, the price of Bitcoin is going up and down so people don't use Bitcoin because of greediness of money, It's a natural process why you miss the opportunity, So when the price will be stable then people will not hold for gaining profit and in this way Bitcoin will be the vital payment method even better than Paypal.

[BonfireBob]

Its hard to belive so. Paypal is used Worldwide and has huge influence across the globe.

However I believe that in the near future some other company will overtake PayPal, as there are a lot of good payment platforms with smaller fees, better support, etc.

[Palider]

Its hard to belive so. Paypal is used Worldwide and has huge influence across the globe.

However I believe that in the near future some other company will overtake PayPal, as there are a lot of good payment platforms with smaller fees, better support, etc.

The paypal company has already built a solid foundation to keep it from losing its place. So other companies will find it difficult to get rid of.

So when the price will be stable then people will not hold for gaining profit and in this way Bitcoin will be the vital payment method even better than Paypal.

I think the price of bitcoin is going to be tough, bitcoin is actually used here in our country as payment for products purchased online but it is also stopped immediately due to incorrect product prices payment received by online sellers.

[Wysi]

That scenario is highly probable, where not only Bitcoins, but also the other Altcoins, must be considered, I believe that the project that makes a well-structured plan for mass use will take that step, because cryptocurrencies are much more practical, they can be use P2P and the costs are lower.

Yes the transaction fee in crypto currency is much lower compared to money transfer platforms but it's still far away from being equivalent to paypal as paypal is openly operated wherein bitcoin or any other cryptocurrency cannot acquire same status due to certain security aspects as some countries don't accept it and even if they accept the volatility will play a negative factor.

[Ridwan Fauzi]

We still have some altcoin who can hit paypal, and may maybe it is already since there is some altcoin who can be able to proccess a transaction that overtake paypal in one second. It is far we pair up with bitcoin, it seems like bitcoin is being designed by most user now just for an asset.

Moreover, there is many speculation against to its price. In the future I'll believe that bitcoin price will hit $1 million so as they just a few people who can use it as payment system such as the using of money fiat now. We will see it later, let we pass the roller coaster and I'm ready to face it.

[cotton ball]

It will not even take years maybe 4 to 5 years, so many people are now shifting to Bitcoin I am one of them but there are still a lot of company trust Paypal like Fiverr, yes then can overtake Paypal but I doubt if they can make Paypal close, Paypal whether we like it or not is here to stay just like fiat and Cryptocurrency, they can co exist without harming each other

Without five years after bitcoin open to public many PayPal  costumer have move using bitcoin as currency than PayPal, using PayPal very difficult with trouble by IP address and our account every time limited and have to upload our ID for security, some time we make payment sending as friend and family always limited by PayPal team, so using bitcoin be easy and faster without dispute like PayPal payment.