Quote from: Snorek on December 06, 2016, 09:30:28 AM

Quote from: Esphere.in on December 06, 2016, 09:20:29 AM

Quote from: pitham1 on December 06, 2016, 08:09:47 AM

It is tough to see Bitcoin being a worthy competitor to paypal or any of the payment networks, unless we have the ability to scale up. The block size restriction is going to be an albatross around Bitcoin's neck. Once that is sorted out, the real potential of Bitcoin will become visible.

What has bitcoin got to do with paypal .it is not even related in any way. Bitcoin and its decentralized mode is far more trustful that any other payment models out there.In paypal your funds are at risk and they can withdraw your assets or froze your account but with bitcoin you control the coins and you have the freedom to save it without paying any charges right in you computer.

While you are right you also miss some points. Bitcoin might be whole new concept but it also share some major similarities with other payment processors - PayPal included.
Both PayPal and Bitcoin are e-currencies while Bitcoin operates on whole new level and PayPal is trying to embrace the old FIAT economy.
With every FIAT based service there is risk of you losing your account - Banks, payment processors, services - all have certain TOS.

You seem to be confusing something here

PayPal is not an electronic currency since it doesn't issue monetary tokens of any kind. It is no more than an online payment processor, and in this respect, it is not much different from any bank out there which offers online-banking. Its advantage and main distinction is that you don't need to visit a bank office to open an account there. In PayPal, you can open an account as well as confirm your identity totally online. Other than that, it is the same online banking with some bells and whistles