Bitcoin beats one of main competitors in Market Cap - Paypal.

in bitcoin •  last year

Before BTC existed the best way to pay for stuff online or send money overseas was Paypal.
Of course they are still big and exist but users had loads of issues with them - mostly Paypal can freeze your money easily or let people chargeback you as a seller and you cant do much.

Other than that.. Paypal has big fees. So BTC in earlier days was pretty much a paypal alternative for many.

Today Bitcoin finally beat Paypal im MarketCap.


So maybe BTC will be one of top online payment processors now.

Paypal Stats


Those are old but they do show where we are going here .

Bitcoin Markets

Notice 4200 was passed. All Stoners are happy but not only them ;)

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The number of transactions per 24 hours remains low on bitcoin, and of course the fees are horrendous. My prediction is that bitcoin is going to remain purely a store of value, like gold, and it will be an alt that behaves like a currency.

In the UK only one person I know has actually heard of Bitcoin and the others who haven't I've tried to educate them on the subject. I then realise I need to be educated further on the subject myself to stop the head hurt. I feel the spread of Bitcoin has been through word of mouth and has grown organically, imagine if it was marketed like PayPal or some of the other financial institutions.

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I should point out that Word of Mouth and referrals is what helped PayPal get 7 to 10% daily growth during the early days of Paypal.

In Elon Musk's own words "Yeah. Well, we started off first by offering people $20 if they opened an account. And $20 if they referred anyone. And then we dropped it to $10. And we dropped it to $5. As the network got bigger and bigger, the value of the network itself exceeded any sort of carrot that we could offer."

I think cryptocurrencies also should follow a similar strategy until they get enough visibility and adoption. We can't say this for Bitcoin and Ether likes. But at-least the new coins which are failing due to lack of marketing and their anonymity could try this.

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Not to forget that for some time it was mandatory for traders on Ebay to offer Paypal as a payment option. Paypal wouldn't be where it's at, if a behemoth like Ebay had not thrown its weight into the scale.

I love the smell of ATH in the morning.

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haha...is that a new fragrance?

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Yes, it's the smell of a Lambo engine. Lol!

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Screw you Lambo fragrance, I'd prefer the smell of Musk with a touch of Tesla. Clean Energy FTW. ;)

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That is awesome!! Go green energy!

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Awesome article bro! Hope to have my own Model 3 in the future, hopefully when Steem value goes up. Lol!

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Haha, bottle that!

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Hahaha! What's your address imma send you a free bottle! XD

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Nyoe kan ku tuleh nyoe koen pu laen, nyoe ku meuharap meurumpok persen bacut bak si karma, meunyoe hana jih jok persen meu bacut theh sang hana so jok keudroe kuh, jadi nyoe komen lon numpang jak siat, meuah beuh, bek neukira apam syara beh, trimong geunaseh, mnyoe awak blah deuh khen thank you very much, nyan ban :)

Bitcoin crossing the Market Cap of PayPal is indeed a major milestone. The next mile stone should be to make using Bitcoin as easy as Paypal :P

McAfee made a prediction of 50k USD for Bitcoin, here are my reasons why it may not be far fetched.

Wow! I thought Paypal would be worth more than $70bil. Amazing that one will be worth millions in 5 years, while one could be completely worthless.

Hate to be the party pooper but we have a long way to go before bitcoin matches the level of adoption that Paypal enjoys. Regardless, yeey Bitcoin!

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Of course we've got a long way to go, but we are moving forward and we are moving fast. Seen the CNBC crpyto portfolio news? It was hilarious!

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The stupid guy suggesting we should invest in equal parts of ETC and ETH? Oh yeah! That was unbearable. Hahaha

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I think we'll get there. Paypal is actually unknown in China. The chinese use Alipay & Wechat
But Bitcoin here is famous because it do what Alipay & Wechat can not. It is used here in China and abroad

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I've heard that most amount of bitcoin is in China.
I used WeChat when worked in China. and its quite good and multi-functional!

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Yes, Wechat & Alipay is the future when you can pay everything with your phone. I can now go out without my wallet. But I would never leave home without my phone because it does everything

I got into bitcoin because Paypal charges a lot just to transfer money from China to Singapore

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I agree, and it should be blockchain based type of Wechat and Alipay that we should be using. Transparent, decentralized and accountable.

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Yes , I jsut fear the Chinese government control of Wechat & Alipay. But making it blockchain based will make it transparent, decentralized and accountable.

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I think we ll get there not so long time. Unless paypal adopt bitcoin in any way.

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I'm hoping we really do and soon.

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I agree, its headed that direction, maybe after segwit is all locked in and fees as well as wait times decrease.

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I love these milestones, but I'll rejoice once 1 BTC = 1 Lamborghini. Right now, we're sitting at .01 BTC/Lamborghini.

I am going to be a party hyper!... just look at daily volume... makes me laugh!

PayPal - $1.1 Billion in 3 months (2015)!
Bitcoin in 2017 does >$2 Billion Daily!

The time is here!

Next stop bigger then wells fargo? Oh wait we already passed them too...

Paypal is known for giving people, that want to use it to buy crypto, a hard time. Eat that paypal ;) tip!

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As a long time seller on eBay, i must say, PEASE OUT PAYPAL!!! Bwhaha!

It was only a matter of time until Bitcoin surpassed Paypay in Market Cap, but in real life Bitcoin and other crypto currencies will actually replace dinosaur technologies like Paypal with quicker, cheaper and more reliable blockchain based crypto currencies.

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Definitely!
We all are looking for comfortable ans easy transactions!

I cant wait to stop using paypal

I still use paypal but I hate this service as its just so much in fees it just makes me sick

That is awesome! I hope it will keep rising!

4200 ? 4360 US$ baby !!! Lets go to the moon :-) I Love it.images.jpg

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its resteemt...

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$$~ To The M○○n!! ~$$

Yay!! I am so happy to hear that Today Bitcoin finally beat Paypal in MarketCap; it will be one of top online payment processors. Thanks for sharing!

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Today can rightly enter the history of "digital gold"! Come to mommy

This is one of the most important things about BTC that nobody seems to be talking about. PayPal would be bankrupt in no more than a couple of years in may opinion, and this may bring an amazing boost to bitcoin, making it an even more common currency. It also may help in the facilities of exchange it into cash, if thats what you are trying to do, at a higher level it could even make us care less about having cash money, because it will be more accepted in a daily basis use.

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This is one step closer to main stream. Not long before Amazon embraces CRYPTO.

One of the coolest articles I've read. I like the comparison of market cap between BTC & PP.

Great write up and now Bitcoin has just hit $4435.35.
It will hit $5000 by the end of this year, for sure.

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By the end of this month :-)

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♡♡♡♡♡♡♡

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Lots of pros. are saying it will go up about another $500, then back down hard, into the low 2000s

Super Cool! Go Bitcoin Go! :)

Once OmiseGO puts out their product that converts fiat to crypto and back, and TENX starts gaining steam, PayPal is going to be hurting...

It is not late to venture in #bitcoin and #altcoins even in #pumpcoins. We are in a golden crypto age.

It was about to happen. Elon Musk doesent run paypal anymore.

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Was it good when he did run it?

Yes! I was looking forward to this moment for few years already! In your face PayPal for all the accounts closed for Bitcoin trading!

Before BTC existed the best way to pay for stuff online or send money overseas was Paypal.
Of course they are still big and exist but users had loads of issues with them - mostly Paypal can freeze your money easily or let people chargeback you as a seller and you cant do much.

Other than that.. Paypal has big fees. So BTC in earlier days was pretty much a paypal alternative for many.

Today Bitcoin finally beat Paypal im MarketCap.
fantastic well written.

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If people remember the damage Paypal caused to them in history, they won't say any positive in it, but, to say the reality point, the future of BTC is bright. It is now faraway better to keep fund in BTC than Fiat.

There are not too many companies worse than Paypal. Especially if you are a seller who is forced to use them on certain platforms.

MAJOR! l0ve the p0st
Resteemd

It will hurt a lot, when the correction comes... :-(

This is great but Bitcoin has a lot of ground to cover to even come close to the volume and the ease of use (which in the end is what matters to the end users).
If we compare the volume of transactions that Paypal handled in 2014 (127 transactions per second) with what Bitcoin is capable of handling today then Bitcoin has a lot of catching up to do.
The Steem blockchain has a lot better functionality. Nevertheless it is a milestone for Bitcoin that is worth mentioning.

But Bitcoin now has huge fees compared to Paypal. I think people are just buying Bitcoins as an investment options and now it's use will be limited. Probably coins like steem and ETH will be more used for actual transactions.

I bet its gonna become so high that they are going to make another currency above bitcoin that is always worth 1000 x more than 1 bitcoin.
Like 1 kilobitcoin = 1000 bitcoin. Maybe even megabitcoin, terabitcoin?

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Well, those units already exist: https://en.bitcoin.it/wiki/Units

But I don't know why we would need them as marcet cap increases. They were used many years ago when 1 kBTC was worth only a few cents. Nowadays, with BTC beyond 4000$ we use smaller units like mBTC (0.001 BTC) or even μBTC.

It seems that soon most of the payment systems will not be needed, will they be replaced by crypto currency?

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i Think The Same

BTC has ridiculous potential waiting to be unleashed...

Can't wait for a Bitcoin price stable enough to keep it in a phone wallet and just scan a QR code to pay online instead of a centralised process.

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Why can't you do that now. Surely it's better to hold money in an asset that keeps rising vs a one that keeps deflating (fiat). Even if you sell parts of it while it's still rising. Or do you mean stable enough that it won't drop in price?

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I mean the moment that Bitcoin is used by so many that price no longer fluctuates much and thus is not an object of pure speculation anymore. That moment is by no means there yet.

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You should check out BlockPay using BitShares market pegged assets. Bitshares Munich have an app out for it already, and a new improved one is in development by @kencode and his team.

paypal fee is too high...

finally paypal in. for that reason paypal no work whit wallets. their have the idea for be a wallet directy. very good notice

I am so pleased that Bitcoin is forging forward!

Paypal is not cheap when comes to processing financial transactions.

Great news! Thank you)

We are going to reach the 5000 dollars announced by many expert before the end of 2017 ! And maybe more also...

Bitcoin is out here making gains and flying high while Ethereum is struggling to stay above $300. I believe in you Ethereum! You can do it!

Motivation.png

Bitcoin good pay pay

Woow nice. i love Bitcoin :)

Good news. Thanks for posting.

Thanks for sharing with us.
I have one quick question, do you think the BTC/crypto will replace most of the currency in the world?

You shared with us an useful article on Bitcoin! Wow..thanks

bitcoin is so crazy , are people more crazy about it in the future ?

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What's crazy is that every medium of exchange is intrinsically a ponzy scehme. This is just a better one

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@bxt
Yes bcuz it continues and will continue to develop ;)

Bitcoin hits $4300 on bittrex, the future is bright.

image

wow. bitcoin is rising beyond the grave

bitcoin plunging buy and hold upnext is 1,000$

A question friend how much do you expect the correction of bitcoin to sell? I would like your opinion

BUENA INFORMACION ME GUSTO Y COMPRENDI EL MENSAJE GRACIAS POR TU POST

This is great news, people will soon realize that there's a better payment processor other than the mainstream payment processors who charge high fees and ask too many questions.

With the ecommerce boom and the digital revolution, Paypal did play its role, but now all of them need to make way for the KING aka BITCOIN otherwise they will be crushed.

The market caps of PayPal and Bitcoin are really two entirely different things. For Bitcoin it is the value of all BTC wallets combined, for PayPal it is simply the value of all stocks combined. It does not reflect the amount of money held in the accounts. The money is not owned by PayPal and therefore not included in the worth (market cap) of the company. What I want to say is: This comparison does not make any sense. You can only compare currencies to currencies.

ha i like this one. so I think paypal will dissapear sooner or later

NEXT STOP. Bigger than the banks!!!

Thats great in my opinion !. In that way Bitcoin is getting more attention. But it also causes the Price to moon. And thats not always good.

Súper info! Ty!

I am sure that was expected, and maybe got delayed bit because of the fork!

Yeeees, let's beat paypal up

Not only charge back, if someone file a dispute on your paypal account the whole is on freeze state you cannot withdraw it.

Great Job . Thanks

This is my suggestion for bitcoin /cryptocurreny investors -what happens when all coins mined ? https://steemit.com/btc/@kiranrh/what-happens-to-btc-when-all-coins-mined

Yes but comission 2$ on transfer

good news for bitcoin

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Yes great news!

Oh man god damn!

informative post thanks for sharing!

Just keep on HODling

And Great Crypto-Wall ;)
https://steemit.com/steemit/@tradz/1000-f0llowers-party-time
ShW s0me l0ve, I'm in the thousands haha

great info :)

it is a milestone BTC has achieved. way to go

Ok so now since its bigger than Paypal, Amazon needs to start accepting it. Right guys?

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That would be huge for Bitcoin.

watch out Paypal

I wonder how long it will take before paypal realizes it should integrate cryptos into its platform

I think a correction is due in Bitcoin now. Those who already have some - keep holding. As for others I don't believe its a good idea to buy now - I would wait? Lots of other options on the market out right now in the altcoin space that are undervalued.

What do you think ?

Jajajaj happy $4200

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thats mindblowing if you think about bitcoin not totally being mainstream but beating the #1 global online banking service.

Good analysis

That's good news for Bitcoin lovers

Bitcoin is on fire 🔥🔥 what do you expect , heat is going to be anymore . One milestone for bitcoin down , hopefully more to come before its fall

...proving it's a store of value and an efficient payment system too!

Paypal became an old fashion. Bitcoin and blockchain gonna reinvent a brand new world. "There a people who made history and there are the ones who change the history" there is bright future wating for us @kingscrown

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When securitization on the blockchain becomes fully engrained that's when we will see the real explosion of value

great article!
So excited to see the $5000 point!

Great article @kingscrown:
Bitcoin world is growing, and so is the cryptocurrency news and businesses all over the world are planning to also add Bitcoin as one of their payment methods. People will need to push themselves to start educating on Bitcoin if they haven't or have not yet started.
Bitcoin is soon going to hit the $10K mark with the way the crypto trading projections that are going day by day
#Cryptocurrency world- Keep Growing Daily....

Bitcoin is the hottest must have crypto
And it will be a lot bigger in the years to come
Happy that it has overtaken paypall

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Here is a link to the Twitter post about Bitcoin vs Paypal. https://twitter.com/CharlieShrem/status/897153110556200961

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CharlieShrem Charlie Shrem tweeted @ 14 Aug 2017 - 17:49 UTC

In 2012, Roger, @ErikVoorhees & I decided to take on Paypal. The marketcap of #Bitcoin is now higher than Paypal. B… twitter.com/i/web/status/8…

Disclaimer: I am just a bot trying to be helpful.

paypal sucks.

I had no idea it was that big.