I've had plenty of issues with PayPal over the years, but I'd still take PayPal over a state-run bank any day.
Unless you find yourself in a political environment where the private and public sectors have merged, the state will always be more powerful. PayPal can block a transaction or even put a hold on my fund for 6 months, but they don't have an army and can't drive a tank down my street. More realistically, they also can't stop another bank down the street from taking my business.
Just look at what the Canadian government did during the trucker rallies. When the protesters wouldn't leave the government forced banks to shut down accounts, blocking protesters from being able to get hotel rooms or buy food and fuel in the middle of winter. And they were able to do that without directly owning protesters' bank accounts. What would they do once the government doesn't have to worry about forcing a private bank to comply? And though it may be reasonable to think today's government wouldn't do that, what about tomorrow's?
Unless you find yourself in a political environment where the private and public sectors have merged, the state will always be more powerful. PayPal can block a transaction or even put a hold on my fund for 6 months, but they don't have an army and can't drive a tank down my street. More realistically, they also can't stop another bank down the street from taking my business.
Just look at what the Canadian government did during the trucker rallies. When the protesters wouldn't leave the government forced banks to shut down accounts, blocking protesters from being able to get hotel rooms or buy food and fuel in the middle of winter. And they were able to do that without directly owning protesters' bank accounts. What would they do once the government doesn't have to worry about forcing a private bank to comply? And though it may be reasonable to think today's government wouldn't do that, what about tomorrow's?