A little reminder why Bitcoin is necessary

[Hispo]

Since I know most of the people do not read the terms and conditions any of the services they use, I'll take the liberty to leave this over here for the Paypal users that did not read this part of the contract and also as a lil' reminder why Bitcoin is important.
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Source: https://www.paypal.com/us/webapps/mpp/ua/useragreement-full

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My interpretation (right or wrong): Paypal will give you the boot if they do not like you, Bitcoin embraces you.

[franky1]

all businesses can reject a customer for any reason.
no one has a human right to enter a business. you are entering their property and so its their decision who they treat as a visitor, member, guest, customer or tresspasser.
freedom of movement does not mean you have the right to walk into a business. it just means you can move your legs.
freedom to travel does not mean you have a right to drive stupidly on a road. nor get on a train or bus

even this forum is the same. you have no human right to use this forum
even free speech is not a good enough reason. you have the human right (well natural biology) to wiggle your tongue and move your lips but that does not extend to a stage, platform or forum to amplify your speech to a broader range.

bitcoin works because it does not rely on a middleman/service which can just say no whenever it wants. you dont need laws, rights or permission with bitcoin. it just works

[fiulpro]

This is actually the case for most of the things, you have to understand that bitcoins solves the problem of domination by major banks/companies/brands. It's a currency which is not in control of anyone therefore the people who own it own it for real. They own the rights to do anything with it as well. Plus terms and conditions are super long and no one actually reads them, no one has the time to sit down and read them therefore at the end of the day people generally have issues with particular bodies. At the same time banks can declare bankruptcy and disappear without a trace as well, what happened with my grandparent's investments, they did get their initial savings back but only after 5-6 years. Therefore I always feel that we underestimate bitcoins, it's amazing that we have the access to such currency where we control our own assets and money.

[uchegod-21]

Bitcoin is in for many comparison and battle. We have Bitcoin vs institutions, bitcion vs banks, bitcion vs government, bitcion vs altcoins, bitcion vs PayPal etc.
We know of account restrictions of PayPal users when T&C I violated. I am saying that bitcion is liberty to the people, so liberty should not always be dragged to the mud.
Bitcion is in his own class.
Bitcoin = liberty

[BlackHatCoiner]

“There is freedom waiting for you,
On the breezes of the sky,
And you ask "What if I fall?"
Oh but my darling,
What if you fly?”

— Erin Hanson.  

Interpretation of the poem: People don't use Bitcoin, because they think they're playing it safe. They're reckless enough to realize the potential dangers of their current money and the benefits they can get by using Bitcoin.

[Hispo]

-snip-

Sure, but there is a difference when comes to services to like a forum compared to payment processors.

People can discuss Bitcoin in several places on the internet, people can go to Burger Kings if they are banned from Macdolnalds or even make their own Burgers at home, on the other hand Mastercard/Visa/paypal have a huge power when comes to leaving people or companies without options to receive/send funds. Being able to sell and buy it should be (or it is, i am not sure) a human right, and leaving such an important part of being a citizen on the hands of companies willing to isolate us for "any reason" is dangerous.

This topic/thread was intended to be a little reminder or a curiosity for those who did not know about this, obviously we all know why Bitcoin is important/necessary.

[coupable]

Bitcoin is in for many comparison and battle. We have Bitcoin vs institutions, bitcion vs banks, bitcion vs government, bitcion vs altcoins, bitcion vs PayPal etc.
We know of account restrictions of PayPal users when T&C I violated. I am saying that bitcion is liberty to the people, so liberty should not always be dragged to the mud.

The most impressive thing about bitcoin when comparing it to all those services you mentioned, is that it represents a currency for exchange and a payment system at the same time, combining both concepts. The exception is bitcoin vs governments because we still need it to be recognized by legal authorities to be fully adopted by individuals as we are yet living under centralized authorites which governs almost everything including finance and economy.

[ChiBitCTy]

As someone who’s been using eBay and PayPal for many many years I can vouch for the fact that they will indeed ban you for any ol reason at all whether it makes and sense or not. I’ve had countless friends get banned from PayPal for absolutely no reason at all. Bitcoin won’t and can’t ban you!

[Lucius]

What is the difference between someone storing their Bitcoin in a PP account or some centralized crypto exchange? There is no difference, each service has similar conditions under which it can suspend/close any account without any explanation, and Bitcoin cannot help all those people who cannot understand that they should be their own bank.

When someone is wondering why more people don't own Bitcoin, let them ask themselves why most people aren't really capable of anything more than inserting a plastic card into an ATM and entering a 4-digit PIN.

Bitcoin is not necessarily needed, it is just an alternative given to us to choose from, and at the moment at least 95% of people cannot or do not want to understand it. Centuries of brainwashing cannot be undone in a decade.

[noorman0]

And think when your bitcoins are managed by a centralized service like Paypal, your bitcoins become useless.
Since centralized businesses have to have responsibilities, they will also take some of your rights. With all the authority they create, sometimes they become unfair, moreover all businesses have been automated with the system. And you have no choice but to follow the rules because you chose the decentralized as the trust.

I think all systems will have consequences. Bitcoin (self-managed) can be the best choice if you can fully measure, underwrite and guarantee yourself from all aspects.

[Iranus]

-snip
Paypal will give you the boot if they do not like you, Bitcoin embraces you.

Not just PayPal, any limited company protects the rights of its users. They can seize your money at any time if they want, without giving any reason, you have to do business with them by accepting these.
People prefer Bitcoin only because of its anonymity and to get rid of the regulatory body. I think a person who has used Bitcoin once will never use a third-party service like PayPal for the second time.

[passwordnow]

Each platform that has have their own rules when it regards to account matters. They can really terminate an account if it violated any of their rules but here's the catch. I have seen those people that have banned account in PayPal without knowing in which part they've violated because they don't even disclose. They've asked politely on what violation did they made for them to have PayPal's hammer into them but, it's the same reply with most of them. There's no disclosure of the reason and that's really something to be worried for if you're an avid user of this company.

[so98nn]

Boy that’s harsh ToS. I know that when it comes to the financial services these guys will be one step ahead of user because it’s simply financial stuff! The business runs on money so if you gonna be involved in it then it’s all about how they can save more or loot more. Lolz.

However, I’m not surprised that PayPal is doing this. They do take your side if you wanna have refund from any product or service that you use throng them. That much Liberty I have taken many times so no hard feelings.

And yes bitcoin is always gonna be first love.  

[Flyingjack123]

Bitcoin is a great changemaker, no matter what will happen in crypto down the line a decade or two.
Bitcoin will always be considered the first crypto currency and Satoshi will always be the father of crypto.
Yes if we can say is crypto is necessary. We can say that the way world is evolving, crypto seems a perfect place to keep your funds safe..
Even banks can get defunct, so your money your responsibility and your control.
Keep it encrypted.

Bitcoin the pioneer will always be a good safehouse

[Wexnident]

My interpretation (right or wrong): Paypal will give you the boot if they do not like you, Bitcoin embraces you.

Well, they'd only boot you if you did something wrong (or idk, someone from higherups hates you, which is the less likely occurrence most of the time imo). Honestly, it's they're right, it is the business they are running so they have to take some measures so that if ever there were some malicious activities, they can immediately cut it off without having the issue of legality since well, they already stated they could do so. Nothing really wrong imo.

Bitcoin being the better option isn't necessarily always true, it's always a subjective type kind of thing, or maybe situational idrk, see it depends.

[avikz]

My interpretation (right or wrong): Paypal will give you the boot if they do not like you, Bitcoin embraces you.

Any business holds the right to either accept or reject any customer. It's their right. You need to understand that Paypal is a business organization and they provide a service. So it's their call whether they want to provide service to you or not. If you want to use a bitcoin wallet like Coinbase, they have a similar rule as well.

Only if you can use a non-custodial wallet service, then you are the sole controller of your own money. Otherwise even banks can deny their service to anyone they don't think eligible.

[Rruchi man]

Since I know most of the people do not read the terms and conditions any of the services they use, I'll take the liberty to leave this over here for the Paypal users that did not read this part of the contract and also as a lil' reminder why Bitcoin is important.

We really need to pay more attention to terms and conditions and make sure to understand them before using any business service. This been highlighted, we must understand that all good busineses & companies have terms and conditions that users are expected to adhere to, to use their service, these businesses & companies can't operate without these T&C's.  While some businesses & companies have less stricter T&C's, others may be stricter. As someone in need of a service, it becomes your duty to find out which business or company's terms and conditions that is most appropriate for you & you can adhere to, before subscribing to a service with a company/business.

[teosanru]

Haha nice point, but this is obvious, Paypal is a private service owned by a set of individuals, it is allowing you to use your service for some charges. The way you have sole discretion to choose whether you want to use Paypal or not, same way they have sole discretion to decide whether to provide or stop providing your services without giving any explanation. But I've always felt comparing Paypal with bitcoin is stupidity, Bitcoin is obviously way ahead of PayPal, competition to bitcoin is fiat currency as a whole not Paypal, infact foreign or cross border remittances are difficult because of fiat in the first place.

[Japinat]

Haha nice point, but this is obvious, Paypal is a private service owned by a set of individuals, it is allowing you to use your service for some charges. The way you have sole discretion to choose whether you want to use Paypal or not, same way they have sole discretion to decide whether to provide or stop providing your services without giving any explanation. But I've always felt comparing Paypal with bitcoin is stupidity, Bitcoin is obviously way ahead of PayPal, competition to bitcoin is fiat currency as a whole not Paypal, infact foreign or cross border remittances are difficult because of fiat in the first place.

There is always an advantage to use a currency that is decentralized because you can do whatever you want since there is no any entity that will give sanction on you. But in cases with government controlled online payment remittances, of course they will have to set rules for their clients and create agreements. Once not followed, termination will follow. Otherwise, the payment system itself will be the one to be reprimanded by the government. There will always be differences from using a decentralized system out from those centralized ones.

[Accardo]

I remember the period Elon Musk was handling paypal, many online traders complained about the infringement of their PayPal funds. They must have boycotted one rule and they will be nothing like contacting their support team due to the fact that paypal can suspend an account for like two years before it'll be released for the customer's usage. These are money that worth over 4 to 5 digits! So, during the invasion of bitcoin many traders chose to divert to a more risky but self maintained (decentralized) system type of transacting money. However, many vendors in American prefer Paypal to Bitcoin because of the "charging for dispute" feature of the platform unlike the unreversed nature of cryptocurrency whereby customers cannot charge back if the vendor doesn't deliver. Sometimes the bad miner with the highest amount of pool can still charge back if the vendor sends the product depending on how fast they have calculated the pool using poison process.

Therefore, the system is risky; like I said, many of us don't just like paypal because of their too much restrictions. That's why many vendors and traders switched to cryptocurrency and everyone in the cryptocurrency space prefer the system.