Bitcoin Hits New All-Time High Over $4,400 As It Catches Paypal In Total Market Cap
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I agree transacting in Bitcoin is way superior to Paypal MOST of the time. I'm also a big BTC holder and defintely believe in its long term potential, etc etc.
That said, I just want to point out that Paypal is better than Bitcoin for transferring money between domestic Paypal accounts (in the same currency). Just a few weeks ago, I wanted to pay a friend and I did it from my Paypal to theirs, the transaction went through instantly and there aren't any fees for that.
I (unfortunately) use Paypal a lot and I hate it. This past month has been horrible. I've had my money or other peoples money tied up in transactions for a week or longer. Transfering money from the bank to Paypal is slow, and vice versa. I can't wait til I can be rid of it for good. I buy and sell on eBay, so I don't know when that will be.
@brightguy - Totally concur with that, it's a love hate thing! As much as I echo Jeff Berwick and would love to see it replaced, it's just like fiat currencies....the way our economy (and in Paypal's case, ecommerce) runs right now, they are necessary evils. We'll still need to work with them until we hit that final tipping point into crypto. I've heard it's something like when 1% or 3% of the worlds' population uses it.
Also true that moving money back and forth between banks and Paypal is slow, I just meant that transferring money between PP accounts (or via Credit card with Paypal) is fast. Yep, I'm a big ebay guy too - former powerseller back in the day! :-)
wow . i never heard of such thing. i use paypal for many years ( about 10 ) and i never had a problem with them. Money goes through instantly, no delay no nothing. sorry to hear you have "issues" with it. :(
@agneslaczo What! I hope you are being sarcastic! You've really never heard of problems with Paypal??
no, i really haven't . is that bad ? :)
See my comment about the pros and cons of Paypal above @agneslaczo :)
I think the ultimate point - and in my opinion as well - is that Paypal isn't "terrible". It's actually really good at what it does. However, it can be thought of as the best of old, dot com era internet technology. Cryptos are Paypal 3.0. (Skipping the 2.0 ;) )
I think this is more or less along the lines of what @dahlsom said "PayPal has been around longer and uses a more familiar technology." ...would you agree with my above statement @dahlsom?
depends where you live......... Some countries like Indonesia.... its a nightmare..........
PayPal has been around longer and uses a more familiar technology. Give Cryptos some time and they will be able to do everything PayPal can do and more. Investing in PayPal is also separate from using it... where Bitcoin it's much the same. All users of Bitcoin are also investors (at least short term). It will be interesting to see which one wins in the long run.
Thanks to bitcoins, I went from starving to willingly starving
a minimalist, my type of guy!
Me 3!
following you now man
Thanks for sharing
Bitcoin is simply huge right now .Who knows what will happen tomorrow...
Thats the scary and awesome part too!
we are not the only ones scared, so is the government... lets hope it does not take a turn for the worse
https://steemit.com/cryptocurrency/@felander/the-us-government-really-does-not-like-the-crypto-but-the-americans-do
I get the feeling that soon it will be risky to invest in bitcoin even though it appears not only safe but sky rocketing!
When is the drop gonna come..? Wait for it.... Wait for it...
not even huge yet.
You are right !!
it might be $15000 / BTC by the end of 2017
its a great experience for us to learn new things.
Thanks Jeff!
I think new Bitcoin users need to be made aware of the possibility of a Chain Death Spiral. If Bitcoin Cash becomes more profitable to mine than Bitcoin Core, and miners switch to mining Bitcoin Cash, then Core Bitcoin could become clogged with transactions with blocks taking longer and longer, which will make it less profitable, which forces more miners to switch, and the cycle worsens. In such a situation, it would become impossible to move your Bitcoin - you'd be stuck with a useless coin.
This can't happen to Bitcoin Cash because it has an emergency difficulty reduction mechanism built in if hashpower gets low.
It's definitely becoming big news let's hope in time it can take a few more coins with it ?
Yes the market cap is huge especially when compared to a year ago. Some people say Bitcoin is a bubble and over-priced, but in my opinion its just that people are finally catching up and becoming aware of its existence. Even institutions like banks and top tech firms haven't been aware of it until recently. Laura Shin writes for Forbes and has been doing great work for years, and just recently finally got a cover story. Also with all of the hard fork drama news outlets put out stories about bitcoin trying to put out a negative viewpoint about it because negativity is the only way they can get headlines. But this has only put more eyes on Bitcoin. One of the top searches on Google this month is "What is Bitcoin?"
So considering that "What is Bitcoin?" is the top search on Google this month there is no way that this is a bubble. People are catching up and finding out about this amazing tech that will revolutionize the world for sure. The recent influx of cash has been documented and can be seen on the market cap charts as proof.
In other words, more and more people are learning about Bitcoin, seeing what it is, and investing. There are a lot of crazy people out there, but a silent minority is smart enough to see a good thing and latch on to it.
Really enjoyed your comment - just followed! Had no idea "What is Bitcoin?" was the top search on Google this month. With its meteoric rice over the last couple months people keep waiting for another major correction, but as you say with all the "new money" coming into the market, that hasn't really happened yet. I still think it WILL happen, as it always does, because with all the new money coming in, the newbies will see it hit $5K or $6K (yes, that will probably happen in the next few months or by the end of this year at the latest), and then sell. I think it'll still keep rising for now though...and even if it does lose 30% it will come back stronger than ever as it always does.
I know I went off on a tangent there! Yes, let's stay in the "silent minority" and latch on... I think you and me both are here long term ;)
I'll vote for anyone named "Meatspoon"! :)
hahahah.. and what veggiespoon? ..veganspoon?
Love it! Its booming, and passing big names like PayPal, it forces people to see Bitcoin as a contender in the "real world" because a lot of people still look at it like monopoly money. When really at this point it has so much long term value than even USD.
Thanks to you my small investment is no up 3x
Thanks Jeff and Ed
Get it in thare!!!!
woot woot chicken chicken