Hello, your opinion about bitcoin is respected and thank you for replying, but I see some mistakes in your text that I have to mention.
Christen57 wrote:High fees may exist with paypal, but they also exist with bitcoin as well, and said high fees are also less transparent and more vague with bitcoin than with paypal. Almost every time I tried to transfer money to someone else in the form of bitcoin, said bitcoin ends up getting mishandled between each party it's being transferred between, and the value of that bitcoin going to my friend goes down repeatedly as the third parties each decide to keep some of their own share of it before transferring the rest to the next party until it is ultimately transferred to the friend that you want it to be transferred to, resulting in that friend getting much less bitcoin than you were originally trying to send them.
You must have made some misunderstandings or use an online bitcoin wallet like bitcoin.com or blockchain.com. Yes these are some terrible examples, but bitcoin was created so you should not trust a third party. About fees, I don't know how much online wallets are charging, but I pay about 2-3 cents on every transaction I make. On paypal, I have been a buyer and a seller and there were times that I was receiving 2 euros and it kept me 50 whole cents as a fee. On strange occasions paypal charged me 2 whole euros for a transaction. On the world of bitcoin, whether you send 1 or 10000 bitcoins, you pay the same fee, and the good part is that you can adjuct it and make it whatever you want. 1 satoshi per byte, 10 satoshis per byte etc.
Christen57 wrote:What this means is that, for example, if I was in Canada, and I wanted to transfer 20 dollars to a friend that is in Russia, via bitcoin, and 20 dollars was worth, for example, 10 bitcoin, first I would have to find a Canadian bitcoin trader online, transfer the 20 dollars to them so they can transfer the equivalent amount of bitcoin to me in return, transfer the bitcoin to an online website designed to manage peoples' bitcoin, then have that website transfer that bitcoin to the country my friend is in, which is, in this case, Russia, then have Russia transfer the bitcoin to my friend, have my friend transfer that bitcoin to a Russian bitcoin trader, before finally having that Russian bitcoin trader transfer an amount of Russian dollars equivalent to that amount of Russian bitcoin back to my friend.
This example is true ONLY if I want to convert my bitcoins to dollars. Hey, man, not all of us want that, bitcoin is a currency itself and it has its own uniqueness. Also, if I want to pay duelingbook there is no point for a third party. I just send an amount to an address and wait until it is confirmed. Once it's confirmed the duelingbook allows me to change my profile picture. Ta-da!
You understand what I mean, doing that: ₿->$->duelingbook->$->₿ has no reason unless we both want to first convert them to dollars. At least, this is what you're presenting with your example.
This is fine itself: ₿->duelingbook->₿
Christen57 wrote:The value of bitcoin itself wildly varies from place to place. Bitcoin worth 20 dollars in one are may be worth as low as half or as high as twice that amount in another place. With paypal and google wallet on the other hand, the value/price is more consistent and transparent.
Value of bitcoin doesn't wildly vary from place to place. If you google "bitcoin price" you can see in what price most people think of. Right now 1 Bitcoin equals 9,030.09 Euro. You won't find any trusted place where 1 Bitcoin equals 8,000 Euros.
Now about the other examples you've given (1,2,3,5), I have to say nothing but this. You're trusting a third party to escrow your money and of course this is bad unless you want to convert your coins to dollars. Otherwise, there is no point on holding your bitcoins to exchanges.
Christen57 wrote:There is no such as thing as converting dollars to bitcoin then transferring it directly from you to the person you specifically want it to go to. It's always transferred to other third-parties first, who take on the responsibility of processing it, managing it, and converting it into the appropriate form of currency that those other countries use, before it makes it's way to your friend.
Buddy, I thing you have not understood the way bitcoin works. We don't need to convert our bitcoins to dollars and then send them to others. We send an amount of digital currency from our address to someone's else. No third parties, no dollar conversion, nothing. Unfortunately, you must had a bad experience with online wallets that charge a lot. If you read the link I mentioned on the first post you may clarify some things in your head.
Christen57 wrote:Don't get me wrong. I'm not saying nobody should ever use bitcoin, since it does greatly help and benefit those do not have easy access to paypal or any other available alternatives, but when paypal is an available option, people should opt to use that and stick with that instead of bitcoin when possible, and that is most likely what duelingbook is going to do.
I didn't say to remove paypal from payment method. I just said to add bitcoin as another one, just for those that want to remain anonymous.
P.S, you don't have to write with huge sized characters. It seems like you're trying to impose your opinion.