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SWIFT sentiment lately


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Am I the only one noticing an increasing amount of "bad" SWIFT news lately? Might be a good thing for Ripple :D

 

Some examples:

18 feb: India's City Union Bank CEO says suffered cyber hack via SWIFT system

https://www.reuters.com/article/us-city-union-bank-swift/indias-city-union-bank-ceo-says-suffered-cyber-hack-via-swift-system-idUSKCN1G20AF

16 feb: Hackers stole $6 million from Russian bank via SWIFT system: central bank

https://www.reuters.com/article/us-russia-cyber-swift/hackers-stole-6-million-from-russian-bank-via-swift-system-central-bank-idUSKCN1G00DV

13 feb: Russian banks ready to switch off SWIFT – official

https://www.rt.com/business/418665-russia-banks-ready-shut-swift/

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i mean, when you try to transfer FIAT to your exchange via swift to catch a dip but it takes 5 days and you want to kill someone cause you missed the dip - that's when you understand how bad swift is :)

Edited by gkatz
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1 hour ago, gkatz said:

i mean, when you try to transfer FIAT to your exchange via swift to catch a dip but it takes 5 days and you want to kill someone cause you missed the dip - that's when you understand how bad swift is :)

Exactly what I did last week when the price doubled while waiting for the transfer...

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SWIFT will forever be at a major disadvantage- just because of it's structure.  Co-op entity.  Causes dilution of interest in investment- playing this out there just isn't anyone highly interested in changing - investing  - rocking the boat -- in fact quite the opposite- a Co-op is traditionally conservative, behind the times, share wealth etc...  move slow.  This is pretty much why I think a lot of SWIFT's executives flipped over to Ripple over the past few years.  Writing on the wall.   Really, how embarrassing to have a system operate so badly.

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