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Dash Vs Paypal

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terataz

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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
 
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.
 
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.
 
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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
 
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
 
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
 
CaptainPicard said:
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
Click to expand...
Totally agree with your points and the biggest advantages is its lower exchange rates.
 
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.
 
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
 
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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.
 
CaptainPicard said:
Dash can be converted to actual cash using peer-to-peer systems, rather than having to withdraw through the banking system
Click to expand...
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*
 
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