Potential Threat to XRP - page 2. | Bitcointalksearch.org

Crypto Bull

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Quote from: Husires on August 02, 2023, 01:33:34 PM

Quote from: Crypto Bull on August 02, 2023, 09:52:22 AM

Why do XRP proponents keep claiming that it's going to replace SWIFT for international transfers?

There is a big difference between the number of transactions that the SWIFT system can process versus the number of transactions that the Ripple blockchain can process.

Agreed, but what about the difference between XRP and SWIFT Go?

Quote from: JeromeTash on August 02, 2023, 04:57:37 PM

If only their network was fully decentralized, they would have an upper hand maybe or a unique advantage over SWIFT Go, but no they don't. I look at altcoins like XRP as just money making ventures for the whales and big institutions. Nothing else.

All the noise and shilling is because most of them are just bag holders and want it to go to $5, $10 0r $100 so that they can become millionaires or Billionaires. Not so many care about the use cases.
For example, how many people transact in XRP for payments vs. just trading it?

If XRP doesn't have any advantages over SWIFT Go, then how is it going to take market share away from it, and how are the bag holders going to become millionaires and billionaires?

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If only their network was fully decentralized, they would have an upper hand maybe or a unique advantage over SWIFT Go, but no they don't. I look at altcoins like XRP as just money making ventures for the whales and big institutions. Nothing else.

All the noise and shilling is because most of them are just bag holders and want it to go to $5, $10 0r $100 so that they can become millionaires or Billionaires. Not so many care about the use cases.
For example, how many people transact in XRP for payments vs. just trading it?

Husires

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Quote from: Crypto Bull on August 02, 2023, 09:52:22 AM

Why do XRP proponents keep claiming that it's going to replace SWIFT for international transfers?

There is a big difference between the number of transactions that the SWIFT system can process versus the number of transactions that the Ripple blockchain can process. SWIFT is not a financial institution and therefore it is different from Ripple as XRP is a product and has a market value and we can consider it as money or guarantees according to the definition but in the SWIFT system there is an average of 44.8 million messages daily

These lies come because banks are open to blockchain technology, which may be an alternative to SWIFT, and here we are talking about technology, not about EXR or any central or decentralized cryptocurrency.

https://www.investopedia.com/articles/personal-finance/050515/how-swift-system-works.asp

Crypto Bull

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Quote from: Yogee on August 02, 2023, 10:15:23 AM

You should be glad that Ripplenet is already in a position to directly compete against a widely known payment system. I don't think it can surpass their market share but it's more than good enough that they continue to expand by partnering with more financial institutions. Swift Go may be innovative and may increase their user base but people still prefer having other options.

So, in other words, XRP will just be a second-rate competitor to SWIFT Go?

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Quote from: Crypto Bull on August 02, 2023, 09:52:22 AM

Why do XRP proponents keep claiming that it's going to replace SWIFT for international transfers?

I think you knew exactly the answer. They are just shilling to boost the token valuation since it’s very common for crypto projects to exaggerate things and connect to big company name to share the spotlight.

Ripple doesn’t even close to swift in terms of the range of customers volume and usability. Ripple supporters including the team is well know for hyping their project ever since they launch this project. Expect more exaggeration coming this project. Why people keeps investing on this centralized project that use blockchain. It’s just same with bank.

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You should be glad that Ripplenet is already in a position to directly compete against a widely known payment system. I don't think it can surpass their market share but it's more than good enough that they continue to expand by partnering with more financial institutions. Swift Go may be innovative and may increase their user base but people still prefer having other options.

Crypto Bull

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Why do XRP proponents keep claiming that it's going to replace SWIFT for international transfers?

Do they think SWIFT is just going to sit idly by, while they watch another company steal their market share and run them out of business??

No. That's why they recently introduced "SWIFT Go", which can settle international transfers "quickly". How "quickly" is anyone's guess, but it might be fast enough to put up some stiff competition against XRP, making it an uphill battle for it to gain adoption, especially since the whole world already uses SWIFT, and banks will be reluctant to change.

https://www.swift.com/swift-go/en/what/

https://www.finextra.com/blogposting/23715/what-is-swift-go-and-why-is-it-so-innovative

Being an XRP holder myself since 2017, I'm concerned about this. Why does it seem that no one else is? Have they even heard of SWIFT Go?

Please enlighten me, if I'm missing something.

Topic: Potential Threat to XRP - page 2. (Read 203 times)