

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

======
skloubkov
>>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
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.

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

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

~~~
jimmaswell
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.

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

