Bitcoin Vs. Paypal

[BobbyChen]

That is a major point of bitcoin. You are your own bank, you are the one controlling and safe-guarding the money.

I actually prefer bank to guard my money, at least I blame them for losing my money.

Well you are not alone then.
Some bitcoiners still now prefer to store their bitcoin on exchanges and let the site hold and protect the bitcoin, even after the hack and bankruptcy of mtgox.

That's hilarious actually. One of the most important advantages of cryptocurrencies is that you are your own bank.

[BeginToMine]

The best con that BTC has, you never have to deal with chargebacks.

[BeginToMine]

There are rumors that PayPal soon will be accepting Bitcoins.

Can you provide some source of that rumor ?

[silvestar]

There are rumors that PayPal soon will be accepting Bitcoins.

Can you provide some source of that rumor ?

I guess he is talking about the following June news. http://fortune.com/2014/06/05/paypal-bitcoin-future/

[DhaniBoy]

between bitcoin and paypal are 2 different things, bitcoin is cryptocurrency that can be exchanged into real money and even some that can immediately be spent, whereas paypal is a kind of bank that can only distribute money in the paypal account, but there are similarities between bitcoin and paypal which both require internet connection when you want to use it ... 

[umair9829]

Paypal is not available in many countries but bitcoin is available worldwide.

[AltcoinInvestor]

paypal is gonna buy bitcoin corp.

I'm just kidding, paypal was a good payment processor before 2012 (I'm using it since 2007 to get some payments). But then I discovered bitcoin. Now bitcoin is quite better than paypal.

Why?
1- Cheaper transactions:
Let's say you send 100$ to a friend via paypal:
You've to pay %3.5 fee, 103.5$ also paypal is gonna charge your credit cart %1-2 more because of your local currency. You payed 105$.

If you send via bitcoin?
You only pay 10k satoshi (4-5 $ cents)

Also your friend have to wait 1-2 business days to withdraw money from paypal. How long does it take to spend bitcoin? Mostly 1 hour tops...

[b!z]

At the moment, I think Bitcoin is actually a big competitor to PayPal, because:

* It's accepted at many online stores, such as TigerDirect and NewEgg
* You can indirectly use it to shop at even more stores using services like Gyfy, or exchanging for cash
* Many people now know about Bitcoin and how it works. You could say that it has become mainstream (almost?)

A few years ago, PayPal was obviously the better payment platform if you were just a consumer.

[altcoinlady]

At the moment, I think Bitcoin is actually a big competitor to PayPal, because:

* It's accepted at many online stores, such as TigerDirect and NewEgg
* You can indirectly use it to shop at even more stores using services like Gyfy, or exchanging for cash
* Many people now know about Bitcoin and how it works. You could say that it has become mainstream (almost?)

A few years ago, PayPal was obviously the better payment platform if you were just a consumer.

Maybe it needs a few more years to become mainstream. I still think majority of the people knows about paypal than btc.

[littlewizard]

Definitely Bitcoin is much better than Paypal, to be honest, I have never used Paypal, I signed up an account few years ago, but it doesnt allow me to make payment.

[BJay87]

The thing is, paypal will never ever f up your account if you did not do something wrong with it. Before you judge paypal, dig for some information.

[Gianluca95]

Bitcoin for:

1) Safe
2) Anonymously
3) Decentralized than Paypal.

Paypal not:
1) Not safe. There are many risk that your money can be stolen.
2) It is subject to control by the authority
3) Not decentralized.

[CoinDiver]

So much confirmation bias!

[gamblethis]

Bitcoin for:

1) Safe
2) Anonymously
3) Decentralized than Paypal.

Paypal not:
1) Not safe. There are many risk that your money can be stolen.
2) It is subject to control by the authority
3) Not decentralized.

We cant do anything now. Paypal will be holding hands with bitcoin anytime soon!

[GreatCoinBearer]

There is no contest between this two

[homm88]

Paypal is a very money minded and highly commercial payment processor.They work for the profit share only as well as there are so many issues and disputes which arise whn dealing with Paypal these days.On the other hand Bitcoins is a currency made by pople and used for pople online without much share and without a lot of commission.

[notlist3d]

Paypal is a very money minded and highly commercial payment processor.They work for the profit share only as well as there are so many issues and disputes which arise whn dealing with Paypal these days.On the other hand Bitcoins is a currency made by pople and used for pople online without much share and without a lot of commission.

Biggest problem i see is their buyer guarantee.  With bitcoins they cant go to credit card or bank and pull money back at a later date.   If they do i see them using a escrow type service where it's held for so long or they make you have a account tied to normal types of their "confirmed" accounts.

I hope they accept one day.  I just won't be holding my breath as they seem to like the spot they are in.  With ebay/paypal they essentially have a monopoly owing full circle of transaction currently.

[CoinDiver]

Biggest problem i see is their buyer guarantee.  With bitcoins they can't go to credit card or bank and pull money back at a later date.   If they do i see them using a escrow type service where it's held for so long or they make you have a account tied to normal types of their "confirmed" accounts.

I hope they accept one day.  I just won't be holding my breath as they seem to like the spot they are in.  With ebay/paypal they essentially have a monopoly owing full circle of transaction currently.

This is simply wrong. PayPal already allows withdrawals in cash. PayPal can only "pull money back" by removing it from your paypal account.

[Loophole]

Of course bitcoin is better than Paypal.
What did you expect to hear from the bitcoiners here on bitcointalk lol? 

[rockyrotcoin]

Paypal vs bitcoin feud is not true from the start. Paypal has always been a bitcoin believer ever since.