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Dash Vs Paypal

Discussion in 'General Discussion' started by terataz, Mar 29, 2017.

  1. terataz

    terataz New Member

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    I've watched a presentation of Dash by Evan on Youtube (sorry not allowed to post link yet).

    He said "Paypal is definitely a competitor".

    Can someone explain better how Dash intend to compete with Paypal, a company currently with a market cap of $40b ?
    What are the big advantages of Dash over Paypal? Privacy might be one, but I just can't see that alone being sufficient to compete in the electronic payment mass market.

    This post is not meant to be a provocation. Just trying to understand the underlying philosophy of this project.
    Thanks
     
  2. solo7861

    solo7861 New Member

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  3. CaptainPicard

    CaptainPicard New Member

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    Pros

    - Lower fees - this is probably the biggest advantage Dash has over PayPal IMO. On small transactions especially, PayPal fees and exchange rate arbitrage can approach 10% of the money transferred

    - No chargeback risk to the seller with Dash (a chargeback is when someone pays you then claims you didn't deliver and raises a dispute either with their credit card company or with PayPal).

    - PayPal isn't offered in some countries, Dash works everywhere

    - PayPal can freeze your funds, Dash can't

    - Assuming Dash Evolution works as intended, holders of Dash could earn more Dash just by holding (or "hodling" if you follow the Bitcoin forums)

    - Dash can be converted to actual cash using peer-to-peer systems, rather than having to withdraw through the banking system as with PayPal (still billions of ppl with no bank account)

    - Dash can be loaded on to a debit card and spent at merchants globally, PayPal balances can't

    - Dash can be integrated with existing POS systems, vending machines, and ATMs while PayPal can't.

    There are a few Cons as well for Dash vs. PayPal, but many if not all can be eliminated with greater user adoption.
     
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  4. Fount4inhead

    Fount4inhead Member

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    One of the main use case's of crypto has never been leveraged yet. And thats the fact that because its cash trust dynamics are reversed meaning merchants do not need to know anything about you. Traditional online payments the merchant has to trust the customer but with crypto its the customer that has to trust the merchant. Because of this it would be possible to have single click payments anywhere for anything with no other input whatsoever from the user, just one click payment from integrated browser wallets, done. This is a very real potential for cryptos and this type of convenience is what the mass's love.

    So assuming the merchant accepts dash its done quite simply, the wallet stores all required information, postal address, email etc. You one click pay and you get the invoice generated and stored also in the wallet. so instead of having multiple website login details with different layouts and order historys and invoices all your online purchases could be stored and contained within your browser wallet, it could handle returns and everything.

    The only reason this hasnt happened is because theres not enough adoption from amazon and the like and bitcoin has failed as digital cash but the fact is it can be done and it would make online purchasing simple and universal and when something is better its normally just a matter of time before it happens.

    I would personally like to see a proposal for the development of a browser integrated dash wallet that works in tandum with a merchant api.
     
    #4 Fount4inhead, Mar 29, 2017
    Last edited: Mar 29, 2017
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  5. terataz

    terataz New Member

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    It's amazing. First , for the quality of responses received. They are spot on. Not only they answered my initial question, it also provided tons of extra infos.
    This for me prove that Dash has a healthy ecosystem.

    Second, for the direction that Dash is taking. No other cryptocurrency is moving heavily in this direction.

    Thanks guys
     
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  6. Iñaki

    Iñaki Member

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    Paypal is a payments service provider with many currencies while dash is a currency itself. Thus these two don’t compete at all. PayPal could in fact integrate dash into their service. A competitor to PayPal in the crypto space would be sth like gocoin or coinbase commerce.

    The only thing in which dash wants to compete with PayPal is userfriendlyness and speed
     
  7. slamdunk

    slamdunk Member

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    Also, if you do it right, Dash is a bearer asset. Paypal? Not so much.
     
  8. bb2ebb

    bb2ebb New Member

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    I am never used paypal since my paypal account was blocked due dispute by another guy who abusing me. and currently I starting using dash because I think dash is another altcoin after bitcoin and ethereum later
     
  9. John Charles

    John Charles New Member

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    Totally agree with your points and the biggest advantages is its lower exchange rates.
     
  10. David Jordan

    David Jordan New Member

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    For those who use Paypal as a means of payment it is surely not news that from May 10 will charge new fees for all payments.
     
  11. rosita

    rosita Member

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    I watched many videos from dash and read announcements and articles, and I want to tell you that I am very impressed. with such success after a while the dash will be better than PayPal.
     
  12. Zipposs

    Zipposs New Member

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    DASH will be much more friendly and easy to pay with.
     
  13. lissi88

    lissi88 New Member

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    Paypal is definitely really user friendly and security from fraudsters, your payment is always secure with Paypal.
     
  14. Brokens

    Brokens Member

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    PayPal is driving me crazy last days! First he was putting my income on hold and I turned out how to avoid it, but when I was going to make a payment it started telling me that it's impossible to proceed and so on. I don't know what to do as 200$ are just frozen on it and it makes me really sad! I see the funds like available, but can't do any operations with it. Have someone experienced something similar? What is the best way out of such situation?
     
  15. Pedrokey

    Pedrokey New Member

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    The main problem to solve with dash and other cryptocurrencies intented to use as interchange of value is the volatility and so far we don't know a way to solve it without "burning" dash into fiat or a stable coin. Mass adoption would, in theory, stabilize the price because big amounts of people who uses Dash as a currency are not going to sell it because of fear, as investors does, but to achieve mass adoption we definitely need a more stable price. So, we are caught in a paradox. Many people are not willing to receive a currency which can devalue 30% in an hour and we must be careful of inform and train the new adopters, because otherwise we could lead Dash into mass deception instead of mass adoption.

    We, as a community, must be the widely critical and accept our greatest weaknesses to be able to correct them
     
    #15 Pedrokey, Oct 5, 2018
    Last edited: Oct 6, 2018
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  16. solarguy

    solarguy Active Member

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    Dash also provides censorship resistant services. Paypal can just turn you off if they don't like you, or the nice government people don't like you for some reason like espouse the wrong politics.
     
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  17. waitingforday

    waitingforday Member

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    Paypal sends me email almost everyday like they changes something in their policy
    Obviously Dash is better
     
  18. zubairkhan

    zubairkhan New Member

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    Paypal is winner
     
  19. tungfa

    tungfa Administrator
    Dash Core Team Foundation Member Masternode Owner/Operator Moderator

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    so why are u here then if u are such a PayPal fan ? ;)
     
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  20. AndrejWarhola

    AndrejWarhola New Member

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    Yes Paypal is user friendly

    Here show the who use PayPal read pros and cons about PayPal :- https://financialwellness.org/paypal-pros-cons-review/

    If you didn’t know, PayPal is the largest and the most used third party payment provider available to businesses, freelancers, shoppers, and individuals. Despite its popularity, there are both pros and cons to consider before utilizing the service. Continue reading to find out the pros and cons of PayPal, and see if it’s the best option for your business and online transaction needs.
     
  21. Elizabeth Garcia

    Elizabeth Garcia New Member

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    I read some articles that dash serves as the next PayPal in future really?
     
  22. tungfa

    tungfa Administrator
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    one article mentioned dash as the “paypal for the marijuana industry”
    (featuring alt36)
    that’s where this came from
     
  23. camosoul

    camosoul Grizzled Member

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    Are you referring to local F2F CASH for DASH TXes?

    That's functionally illegal for an overwhelming majority of the planet's inhabitants thanks to morbidly corrupt guvthug/bankster cartels *coughUSAcough*
     
  24. WritingPaperSucks

    WritingPaperSucks New Member

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    Paypal easy to use for me.
     
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  25. solarguy

    solarguy Active Member

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    But you no doubt live in N. America or some other similarly developed country. What if you are in a politically oppressive country and the dictator tells PayPal to shut you down?
    Boom, your life line is cut off. This actually happened to Julian Assange and Wikileaks. They resorted to Bitcoin. I guess they didn't know about Dash yet.
     
  26. samcarremoval

    samcarremoval New Member

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    I think Paypal is definitely more user friendly.
     
  27. camosoul

    camosoul Grizzled Member

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    This is happening a lot more in "The Developed World" now that the post-modernist neo-marxist endgame is afoot...

    Coinbase is in on it, too. If they find you on social media saying words they don't like, opposing leftist politics, or simply existing in a condition they oppose (picture of you with a gun or wearing a MAGA hat), your account is shut down.

    DASH is fully in support of this, sadly...
     
  28. camosoul

    camosoul Grizzled Member

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    DASH should be avoiding this typcasting of their brand, not courting it.

    Do you think Walmart or McDonald's want to associate "pothead paypal" with their brands?

    Get woke, go broke... You're bringing this upon yourselves and you're too smug and arrogant to realize it's self-destructive...

    There's virtually no business that wants the "pothead paypal" brand associated with their brand.
     
  29. gamblingtec

    gamblingtec New Member

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    Not sure how PayPal is a competitor?

    If you try to run a business using PayPal, best you keep your account lean and mean. PayPal has a habit of stealing merchant funds through a barrage of bureaucracy. I know plenty of merchants who have had their accounts closed (including us) with literally no explanation as to why other than citing some obscure policy that a customers customer may have broken. For us to get funds out of our account we refunded our vendors and asked them to pay us using an alternative payment means.

    DASH does not have this sort of "God Like" control over its member's lives and for this reason alone (in my opinion) it is light years ahead of PayPal.
     
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  30. gamblingtec

    gamblingtec New Member

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    The difference between PayPal and DASH is that you run the risk of PayPal stealing your cash...
     

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