Some people think this is a great idea, others not. Only time will tell. We would love for it to be successful, but have a lot of other things in the works as well. ;)
Such is the case, I guess, for pretty much everything. Bump itself replaces things that already exist, but in its case it seems like it can do clearly better with few barriers to adoption (e.g. games), while with the paypal scheme it's not so clear. My reactionary tendencies pick up, "don't fix it if it ain't broke". But, you're right, time will tell. Just because the existing solutions seem perfectly fine doesn't mean Paypal's system won't become easy enough and commonplace enough for everyday use. Because, yes, it does have some advantages.
It still seems so pointless to me, but then I guess, so do/did a lot of established things.
Are you sure you aren't just trolling?
And, yes, I'm pretty sure I honestly believe that this isn't useful, and that I'm not making this belief up to start a fight. Why would I be confused on this matter?
I do have a problem with its use for transferring money. It just seems pointless. That's what cash is for, and paypal is most useful because I can use it where cash is not an option. I don't see any benefit to using this kind of interaction here.
For it to be useful, we have to be in the same room, I'd have to not have any cash or cheques, or alternatively be required to use paypal. It also has to be something that has to happen soon, or else I could get cash later or use paypal regularly or something rather than going through the effort of us taking out our phones and looking like goofs. We also both have to already have the relevant app installed, with a compatible model of phone. I actually have to make sure of this, too-- I have to ask, "hey do you have that paypal app", etc., which takes more time. This is a situation I do not foresee happening very often at all. There are just so many limiting factors, and it's just so easy to have enough cash in my wallet.