Can Bitcoin Replace PayPal?

http://edition.cnn.com/2013/12/10/business/will-bitcoin-replace-paypal/index.html?eref=edition

by cdvonstinkpot • 13 years ago

10 6 13 years ago

edition.cnn.com

bassclef• 13 years ago

yes, and it will unless paypal figures out how to work with bitcoin and not against it.

jimmaswell2• 13 years ago

It's too slow, needs to constantly download that huge blockchain, and it's too unstable, so probably no.

simonb• 13 years ago

You are talking about one specific -- granted canonical -- wallet implementation; there are plenty of others including thin clients: https://en.bitcoin.it/wiki/Clients

jimmaswell2• 13 years ago

How is that going to solve the blockchain update when you send money or receive money taking forever? People aren't going to want to wait that long for transactions to occur.

skloubkov• 13 years ago

>The added bonus? No middlemen taking a cut from the transaction, he says. While low, there are actually transaction fees.

Bitcoin payment has already been used on many websites and seems to work well for them. PayPal offers much more than just payment processing however (there are refunds for example).

Bitcoin is just a medium of exchange, better question is, which payment process will be able to match PayPal in terms of features first.

lars512• 13 years ago

Surely most of Paypal's real work is around fraud and disputes. Bitcoin might help reduce their transaction costs though, ideally some of that would flow back to its customers.

Can Bitcoin Replace PayPal?

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