what is bitcoins?..It is alternative of paypal ?

what is bitcoins?..It is alternative of paypal ?

 

bitcoin is a virtual money structure and whole ecosystem, but its not an alternative of paypal as in paypal we do transaction for real money but bitcoin is totally different. You can think it as a different format of currency

 

You can't compare the two as they are completely different. PayPal boasts security and legitimizes many businesses, whereas BitCoin is the complete opposite, it lacks any kind of security and can be completely anonymous and non-identifiable if needed. I personally believe that many governments conduct blackbag operations with bitcoin funds purely because it'd be completely useless trying to detect such activity - whereas if it was PayPal, everyone and their dog would know about it.

 

Bitcoin is an open protocol secured by thousands of mantainers around the world who collectivelly run the most powerful peer to peer network ever created. Nobody is in charge and not even its original creator can tamper with it, that would require immense resources.

Dell, Newegg, Wordpress, Tiger Direct and many small merchants have started accepting bitcoin. Companies like Bitpay and Coinbase provide a way to accept bitcoin and have it quickly converted to regular money so merchants are not exposed to its volatility. Commissions are very low and there's no chargeback fraud.

In my experience paying with bitcoin, it feels great to pay for something without having to give away all the personal information legacy cards or Paypal ask for.

Despite problems and disadvantages that need to be worked on, I think it's a great invention that may change the world as the internet did.

 

Paypal now allowing US merchants to receive bitcoins!
http://cointelegraph.com/news/112593/us-paypal-merchants-can-accept-bitcoin-starting-today

 

That is some AWESOME news. Glad to hear Paypal is coming around

 

Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.

 

You can also farm bitcoin with powerful computers. I even know some guys who bought several computers in order to do this and they did it quite well actually.

 

Bitcoin is way better than paypal (for marchant & clients).

There are no fees.
No chargebacks.
Full access to your funds.
Very secured against hacking (yes,you can make your wallet more secured than your Paypal/bank account).
and of course, can be used worldwide (no limits) which is amazing for African countries for example.

 

I bought a website using bitcoin. That is pretty awesome, no waiting for bank wire bs, faxing signature, blah blah blah, just changed domain to my name, and i sent bitcoin. Shit, i think the entire transaction was only 1 hour LOL. Gosh bless bitcoin!!!!

 

Superb news

 

That is BADASS news!!!!

 

I feel like it's 2011 and 2012 all over again where the real freaks tried to explain what it is. The short answer is: It's a decentralized virtual network that is able to assign/transfer so-called coins cryptographically and without the need of a central institution. It happens to be used as a monetary system simple because it's the best form of money we have so far (without taking a look at newer even more innovative crypto coins). If you want to understand how it works (at least a litle bit more), you should take a look at the relatively new open source book project: Mastering Bitcoin. Don't think everything in that book is fully without any false explanations of how it works but it's a very good base to start from and will help you understand how money in the future will work under the hood.

 

I thought it was a pretty cool concept, until I TOTALLY fell in love with it when I was buying a network of websites for $6000 from a guy in Moldova.

I owned his sites, and he owned my $6k worth of bitcoin within 1 hour, and with $0.00 of fee's from banks. This is when I became a TOTAL LOVER of bitcoin

 

Paypal is a payment processor of fiat currencies.
Bitcoin is an experimental virtual currency.
Both have advantages and disadvantages of their own.

If you dont like to see your payments disputed and reversed ,as seller, then you will tend to use bitcoin.

 

U forgot to mention that PayPal always ban account without reason but in Bitcoin no hassle

 

Bitcoin FAQ (official): https://bitcoin.org/en/faq#what-is-bitcoin

 

It's not a realistic alternative to paypal, at least not now. The problem? Most people don't have it. They might know about it but they don't have access to it. Funding a bitcoins account and withdrawing money can be a big problem depending on where you live in the world. It's a great idea for sellers but not for buyers, at least not those who don't shop on the dark web.

 

Bitcoin is a great payment system once you understand it and have a clientel that also understand and use it. If you would like to integrate it into your products there is a very easy payment gateway API to use with it BitPay If you or anyone else needs help with it I would be more than happy to consult with you.

 

Bitcoin is a payment protocol that allows you to transfer value over the internet. The unit of value is also known as a bitcoin. 100 millionth of 1 bitcoin is known as 1 satoshi.

It serves as an alternative to the purpose that PayPal serves, that is transfer of value over internet. But, but design it is totally different than what PayPal is. The first is, PayPal is a company, whereas Bitcoin is a protocol.

You may learn more about bitcoin here - https://bitcoin.org/en/how-it-works.