Bitpay/Coinbase will replace Paypal/ViSA some day? BTC platform kicks out ebay?

[zyhsu815]

Experience 1.

In March, i sold 5pcs of BTC miners,payment method is BTC escrow(1% escrow fee paid by buyer),i got the full BTC as soon as my customer confirmed receiving all miners.(even if exchange rate dropped from 560USD to 460USD/BTC,but i am still holding 30BTC in my wallet)

Experience 2.

In May,another 7pcs of BTC miners sold,payment method was Paypal,14644EURO(exchange rate 1.37,as 20020USD) paid,but only 17742USD received.Besides,the money was frozen at least 20days,only because my paypal is new account.(Honestly,paypal charged me so much.)

Experience 3.

I got paypal calling back,they asked me for 6000USD as deposit insurance,at least frozen 6months.And in future,60% of each payment will be frozen at last 45days.Besides,the money is not yours,it will be refunded to customers any time------------how can it be?

Do you guys meet over-charged by Paypal?

Bitpay/Coinbase finish payment fast and no fee,it will replace Paypal/VISA some day?I am not sure bitpay can beat VISA,as visa fee is not too much and transaction is fast and safe and easy.But i believe bitpay will replace paypal.

And BTC platform will replace ebay too if ebay could not adjust fee policy or one side protection. Adjusting fee policy means dead,as ebay is too huge and its cost is high.

P.S. Thanks to stompix,you divided 2 different conception.

[1713936212]

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[hilariousandco]

I'm not sure if it will ever replace Paypal but hopefully it'll take a massive chunk of their profits or force then to change their business practises. I think Bitcoin is going to need payment processors to go mainstream so maybe PP will incorporate Bitcoin at some point in the future. I know they're keeping an eye in it but hopefully at some point they'll be forced to implement it to compete in the market.

[LiteCoinGuy]

and Bitcoind and Litecoin will replace Visa and Mastercard too 

[monsterbitty]

BTC can never beat paypal. Paypal protects, but btc is fully risk from both sides. So people still like only paypal.

[bryant.coleman]

Already the Bitcoin transaction volume is approaching that of the Paypal. So before the end of this year, Bitcoin will overtake Paypal. But Paypal is not our main rival. We should be aiming to overtake Visa / Master. 

[Baitty]

I don't think LTC will ever replace and neither Bitcoin. Bitcoin isn't suppose to replace paypal because they are total different things. Paypal is well ahead of any other payment processor and I believe nothing will beat them.

[Snail2]

Unlikely. Maybe Paypal will adopt BTC (and less likely LTC) in some form if they see it as competitive advantage over other payment systems.

[bryant.coleman]

Paypal is well ahead of any other payment processor and I believe nothing will beat them.

Don't be so sure about it.

[Baitty]

Paypal is well ahead of any other payment processor and I believe nothing will beat them.

Don't be so sure about it.

I'm actually very suprised about those stats I always assumed that paypal was ahead because everyone I know prefers to use it and does use it. I don't think I know one friend who doesn't use Paypal so that's some surprisring facts.

[jc01480]

Western Union is pretty much on its way out. 

[stompix]

Paypal is well ahead of any other payment processor and I believe nothing will beat them.

Don't be so sure about it.

That is not accurate at all.
First out of that number 3 millions are new generated coins And if those coins are send to the miners and the miner is sending them to the a cold wallet you've got 9 millions in transactions out of the blue.

Let's not even talk about the volume made by sd or games like that who artificially inflate the value of transactions with their almost spammy way of playing dice.

https://blockchain.info/charts/estimated-transaction-volume-usd?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

Also , you can see that the transaction volume increases during bull waves.

Before last week rush , the volume was down to 30millions , less than 1/10 of what the table you posted says.

[nickenburg]

I think Paypal is the worst, they allow people to chargeback what attracts scammers.
I really hope cryptocurrencies will kick paypal out of the market.
They charge way to many extra money, and allow people to steal easily.

[stompix]

I think Paypal is the worst, they allow people to chargeback what attracts scammers.
I really hope cryptocurrencies will kick paypal out of the market.
They charge way to many extra money, and allow people to steal easily.

Oh really?
And bitcoin with it's non reversible transactions is not attracting scammers at all.
You should take your time and browse the market place and I'm sure you're going to change your opinion about what is attracting scammers and what not.

[Eotnak]

I think Paypal is the worst, they allow people to chargeback what attracts scammers.
I really hope cryptocurrencies will kick paypal out of the market.
They charge way to many extra money, and allow people to steal easily.

Oh really?
And bitcoin with it's non reversible transactions is not attracting scammers at all.
You should take your time and browse the market place and I'm sure you're going to change your opinion about what is attracting scammers and what not.

true, but they're two different kinds of scammers.  Bitcoin scammers have to be craftier in their con to you, Paypal scammers have to be craftier in their con to Paypal.  So, I say Paypal is severely flawed, Bitcoin is not.
I've been burned twice by paypal (shame on me) I only use it when there is no other option.  Most people will figure out a way to get money to you if you say that you refuse to take paypal.  I'm comfortable walking away from those transactions.
I haven't been burned by a Bitcoin transaction yet.  No scammer has been crafty enough to con me yet...If it does happen, I have no one to blame but myself.

Anyway, I believe with enough time, paypal will offer Bitcoin escrow services, or become irrelevant

[vpitcher07]

I say no and here's why. Paypal will adapt to survive. If BTC or LTC come close to overtaking them, they will integrate - not die. I could see paypal being a major payment processor like coinbase or bitpay.

[hilariousandco]

I say no and here's why. Paypal will adapt to survive. If BTC or LTC come close to overtaking them, they will integrate - not die. I could see paypal being a major payment processor like coinbase or bitpay.

What if Paypal fail to act quickly enough enough? PayPal will hopefully be forced to implement it at some point or at least change their business practises, but if they don't and continue to charge extortionate fees then people probably just won't use their service eventually. I can see a company like blockchain.info becoming the new PayPal wallet. It already makes the process very simple.

[bitcoinforhelp]

i hope they will, got only bad time with paypal, they took my money for 6 months without my blame

[Bitcoinm]

Bitcoin will never replace Paypal, but it could become big enough to compete in certain services, and integrate with others hopefully

Paypal offers dispute resolution which is a service on top of payment systems.

[david123]

Paypal offers dispute resolution which is a service on top of payment systems.

Ya and that's the problem. They call it "dispute resolution", I would call it complete arbitrariness,
at a disadvantage for the seller in 99% of the cases.

I just hope BTC will contribute to a quick death of paypal

[beetcoin]

I think BTC or LTC never replace Paypal
because Paypal is Good for Currency and Safe
But BTC or LTC we don't know 10 years ago is still safe or no

oh man, your opinion will be very unpopular here. paypal is not good for currency. they are one of the companies that would probably eliminate competition if it were possible, in order to be the only guy around.