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RE: Bitcoin Hits New All-Time High Over $4,400 As It Catches Paypal In Total Market Cap
I agree transacting in Bitcoin is way superior to Paypal MOST of the time. I'm also a big BTC holder and defintely believe in its long term potential, etc etc.
That said, I just want to point out that Paypal is better than Bitcoin for transferring money between domestic Paypal accounts (in the same currency). Just a few weeks ago, I wanted to pay a friend and I did it from my Paypal to theirs, the transaction went through instantly and there aren't any fees for that.
I (unfortunately) use Paypal a lot and I hate it. This past month has been horrible. I've had my money or other peoples money tied up in transactions for a week or longer. Transfering money from the bank to Paypal is slow, and vice versa. I can't wait til I can be rid of it for good. I buy and sell on eBay, so I don't know when that will be.
@brightguy - Totally concur with that, it's a love hate thing! As much as I echo Jeff Berwick and would love to see it replaced, it's just like fiat currencies....the way our economy (and in Paypal's case, ecommerce) runs right now, they are necessary evils. We'll still need to work with them until we hit that final tipping point into crypto. I've heard it's something like when 1% or 3% of the worlds' population uses it.
Also true that moving money back and forth between banks and Paypal is slow, I just meant that transferring money between PP accounts (or via Credit card with Paypal) is fast. Yep, I'm a big ebay guy too - former powerseller back in the day! :-)
wow . i never heard of such thing. i use paypal for many years ( about 10 ) and i never had a problem with them. Money goes through instantly, no delay no nothing. sorry to hear you have "issues" with it. :(
@agneslaczo What! I hope you are being sarcastic! You've really never heard of problems with Paypal??
no, i really haven't . is that bad ? :)
See my comment about the pros and cons of Paypal above @agneslaczo :)
I think the ultimate point - and in my opinion as well - is that Paypal isn't "terrible". It's actually really good at what it does. However, it can be thought of as the best of old, dot com era internet technology. Cryptos are Paypal 3.0. (Skipping the 2.0 ;) )
I think this is more or less along the lines of what @dahlsom said "PayPal has been around longer and uses a more familiar technology." ...would you agree with my above statement @dahlsom?
depends where you live......... Some countries like Indonesia.... its a nightmare..........
PayPal has been around longer and uses a more familiar technology. Give Cryptos some time and they will be able to do everything PayPal can do and more. Investing in PayPal is also separate from using it... where Bitcoin it's much the same. All users of Bitcoin are also investors (at least short term). It will be interesting to see which one wins in the long run.