Re: Will Bitcoin overcome Paypal?

Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years?

We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal.

Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired. Grin

I believe that the Bitcoin will over Paypal because Bitcoin has better aspects like the low fees and fast transfers.
And the community of the Bitcoin is growing very fast. And anything is possible in this world.

Paypal will always be faster than Bitcoin, unless services don't require confirmations on txs that is. Low fees are also not the case anymore, with an average fee of 0.50$ per tx atm, it's rapidly catching up to Paypal's fees.

It is true, not only PayPal is faster and doesnt require confirmation like bitcoin but also it is really popular and it is used by everyone and every online shop on the internet, but not having confirmation time is also what makes it bad for security reasons, I mean PayPal are easily hacked these days, I think that bitcoin is still a new thing and just like PayPal was it is going to need some time for people to adopt it.

Bitcoin will overcome Paypal, I am not having any doubts on that. But when that is happening bitcoin needs to be a versatile payment system to accomplish more number of transactions. I guess increasing the block size must be the first step for making bitcoins to overcome PayPal.