Bitcoin beats one of main competitors in Market Cap - Paypal.
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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YAH MON
Its gooood..
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https://steemit.com/steemit/@surfyogi/top-secret-steemit-2017-roadmap-steemit-communities
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.
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.
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.
right on
I love the smell of ATH in the morning.
haha...is that a new fragrance?
Yes, it's the smell of a Lambo engine. Lol!
Screw you Lambo fragrance, I'd prefer the smell of Musk with a touch of Tesla. Clean Energy FTW. ;)
Totally agree. I'm in line for a Model 3 (See my post here: https://steemit.com/tesla/@bitbybit/i-m-getting-a-tesla-model-3-and-i-finally-know-when-to-expect-it)
That is awesome!! Go green energy!
Awesome article bro! Hope to have my own Model 3 in the future, hopefully when Steem value goes up. Lol!
Haha, bottle that!
Hahaha! What's your address imma send you a free bottle! XD
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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!
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!
The stupid guy suggesting we should invest in equal parts of ETC and ETH? Oh yeah! That was unbearable. Hahaha
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
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!
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
I agree, and it should be blockchain based type of Wechat and Alipay that we should be using. Transparent, decentralized and accountable.
Yes , I jsut fear the Chinese government control of Wechat & Alipay. But making it blockchain based will make it transparent, decentralized and accountable.
I think we ll get there not so long time. Unless paypal adopt bitcoin in any way.
I'm hoping we really do and soon.
got a good point
I agree, its headed that direction, maybe after segwit is all locked in and fees as well as wait times decrease.
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!