Bitcoin Vs. Paypal

[barneystinkcoin]

Well, while reading at it. Bitcoin had been a challenger to paypal. Which is more useful and highly digitalized currency now? What do you think or which do you prefer? 

[Neg]

Probably kinda silly asking what people prefer on a bitcoin forum. Most people generally hate PP around here, though I admit it has its uses but is far to easy to commit chargeback fraud or be a victim of it and thats why people wont use it round here.

[Buziss]

Well, while reading at it. Bitcoin had been a challenger to paypal. Which is more useful and highly digitalized currency now? What do you think or which do you prefer? 

The tx fee is much higher for Paypal than bitcoin.
You can easily lose your Paypal balance in a chargeback, and the dispute resolution is very bad IMO.

So, I prefer bitcoin to paypal.

[Whitehouse]

Well, while reading at it. Bitcoin had been a challenger to paypal. Which is more useful and highly digitalized currency now? What do you think or which do you prefer? 

The tx fee is much higher for Paypal than bitcoin.

Is it? You can send and recive payments for free on Paypal and I often do,

You can easily lose your Paypal balance in a chargeback, and the dispute resolution is very bad IMO.

True, but there's also the flipside with bitcoin. If you lose your balance due to fraud or hacking those coins are gone forever and you're not going to get them back so swings and roundabouts really.

[Buziss]

Is it? You can send and recive payments for free on Paypal and I often do,

It is the case only if you send it as "gift" and within the same country.

True, but there's also the flipside with bitcoin. If you lose your balance due to fraud or hacking those coins are gone forever and you're not going to get them back so swings and roundabouts really.

You are right, but I can accept the loss if it happens because I did something wrong (like clicking a phishing link or downloading a malware).
On the other hand, I don't feel right getting scammed by someone else.


Of course as Neg said above, you will very likely see a one-sided preference here on bitcointalk.

[shogdite]

Well, while reading at it. Bitcoin had been a challenger to paypal. Which is more useful and highly digitalized currency now? What do you think or which do you prefer? 

The tx fee is much higher for Paypal than bitcoin.

Is it? You can send and recive payments for free on Paypal and I often do,

You can easily lose your Paypal balance in a chargeback, and the dispute resolution is very bad IMO.

True, but there's also the flipside with bitcoin. If you lose your balance due to fraud or hacking those coins are gone forever and you're not going to get them back so swings and roundabouts really.

Paypal is the scourge on these forums so I doubt you'll find much support here. I've 'lost' my entire Paypal balance before thanks to a payment reversal, something that would be impossible to do with bitcoin. I wont even go into all the Paypal accounts they've frozen...

http://www.paypalsucks.com/

[barneystinkcoin]

Hmmm Paypal has been around more than bitcoin right? One question, is there another paypal-like org that I can use to transact online?

[Muhammed Zakir]

Both Paypal and Bitcoin has its own merits and demerits. Bitcoin isn't reversible but Paypal is. Sometimes 'reversible' helps and sometimes it doesn't. I can't say Paypal is bad or better, I see both in same position. Anyway, everything such as seeing a thing will differ from person to person. Anyway, you will have take a decision of your own and must take responsibilities of all the consequences.

  ~~MZ~~

[Whitehouse]

True, but there's also the flipside with bitcoin. If you lose your balance due to fraud or hacking those coins are gone forever and you're not going to get them back so swings and roundabouts really.

You are right, but I can accept the loss if it happens because I did something wrong (like clicking a phishing link or downloading a malware).
On the other hand, I don't feel right getting scammed by someone else.


Of course as Neg said above, you will very likely see a one-sided preference here on bitcointalk.

True in that case, but there's also the possibility of getting scammed by a merchant. Imagine buying something with btc and they never sent the item. At least with PayPal there's a good chance you can get your money back, though of course there is also the possibility of fraud being commited on the merchant this way too.

[marcoman22]

Bitcoin works in a different way than paypal as there is no charge back after you received, what you have payed for and also bitcoin is easy to use in comparison to paypal.

[FlatTime]

Bitcoin is cheaper and faster, paypal 3.4% fee.

[NeuroticFish]

I hope that I will not be considered off-topic, but if you take a better look around, there are coins with much lower tx fees than bitcoin and even faster transaction speed (one example is dogecoin, but I am sure it's not the only one).

The only problem is that you may need to convert the coin to bitcoin before exchange it back to fiat.



The only real problem with cryptos vs paypal is that your transaction is not insured. If you got scammed, bad luck. But at some point, soon, a company may wake up and fill this gap.

[oceans]

Bitcoin for me, the fee's are definitely not as high as PayPal's which I feel is quite extortionate now and you don't have the problem with people trying to make chargebacks like you do with PayPal meaning you can easily get scammed.

[Whitehouse]

Bitcoin for me, the fee's are definitely not as high as PayPal's which I feel is quite extortionate now and you don't have the problem with people trying to make chargebacks like you do with PayPal meaning you can easily get scammed.

As already discussed you can send payments via paypal for free just like you can with btc. Usually the heavy fees come in when you use it with ebay. I do hope that bitcoin will force paypal and ebay to lower their fees or change they ways they do business.

[CoinDiver]

This is stupid. It's like comparing PayPal to USD. Sure, there are less transaction fees if you mail cash. WHO CARES? PayPal can harness bitcoin to make itself and bitcoin stronger. PayPal will (mark my words) become the first and largest bitcoin escrow/mediator service in the world. It is a natural extension of what PayPal already does. PAYPAL WILL MAKE BITCOIN SAFE FOR THE GENERAL PUBLIC. PayPal is how bitcoin begins to take over the world. If they're smart, they'll make a killing at it.

[Ayers]

bitcoin is vastly better, decentrilized, faster, no big fee, no charge back(i really hate those, some scammers us this to scam people)

[jersey19957]

Bitcoin is technologically superior, what paypal got on us is mass adoption. Once ebay accepts btc its game over for paypal.

[deebob]

The truth is Paypal has some advantages such as buyer protection, which would prevent a lot of scams we see here. Bitcoin is wonderful technology but it cannot be said to be better for buyers in my opinion.

[notlist3d]

It depends if your talking as buyer or seller.  Buyer paypal offers protection, you can get protection via escrow or using a trusted member.   But as a seller paypal makes it harder for sellers.  It makes it where selling currency via ebay is hard to do among other things.

[mrhelpful]

Paypal fuks you over in business by limiting your account on large transactions or even small ones over a period of time.

This happens to almost everyone I know who dealt with paypal.