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The Internet of Value is MUCH bigger than merely competing with SWIFT


2ndtimearound
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3 minutes ago, jlr said:

Good post. But we shouldn't forget Codius project which also helps expanding the usage of XRP. On the other hand I don't worry about the SWIFT. SWIFT should worry about itself.

Goodness me, I completely over looked that, which is huge in and of itself - will make an edit and mention you next to the edit.

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22 minutes ago, 2ndtimearound said:

jabit's thread is now closed (about SWIFT stealing Ripple's thunder with GPI). 

He commented :-

My bolding of his comments.

I know Ripple has said that they are focusing on one use-case - cross border settlement.  Yes, that means that SWIFT are a competitor of that particular niche when it comes to bank to bank transactions.  However, Ripple have consistently talked about the Internet of Value.  That is VASTLY bigger than merely competing with SWIFT.  The IoV encompasses far more than SWIFT's bank-to-bank transactions:-

  • Coil - monetisation of ANY streamed media (text, video, audio)
  • money transfer services - Moneygram, WU etc
  • business to business payments like via SAP - plugins for software, allowing businesses to pay individuals and businesses using XRP in the background.
  • xVia - peer to peer payments
  • Xpring - 3rd party apps using XRP

The above five points are not only outside of SWIFT's category, they're - IMO - better suited for XRP in the short-to-medium term to slowly ramp up its liquidity.   The exchanges could not handle multi-million dollar payments via xRapid now (order books are too thin), but they COULD handle a whole bunch of low value payments from a money transfer company/SAP plugin/xVia peer to peer transactions.  Figure that XRP's volume now is crazy-low - think of how even a small trickle of utility volume could double XRP's volume and permanently perch it at say....$1Bn volume per day - REGARDLESS of the crypto's market activity (bear or bull).  Then think of those speculators who see that XRP's got this permanent trickle of buys and sells no matter what - its volume is stuck above a certain level.  It would quite literally be the only crypto with utility volume of any decent size.  All of this has absolutely jacksh!t to do with SWIFT. XRP is outside of SWIFT's punching range in these categories.  XRP is golden.  It has way too many use-cases. 

Even saying ALL of the above, XRP and xRapid can and will co-exist with SWIFT.  There will always be banks that don't like change, and they will stick with SWIFT.  Then there's thousands of other banks that are willing to take a bit more risk and seek those extra savings with xRapid.  I say "bit more risk" because for sure, those early-adopter banks will be trying something unprecedented.  What I'm saying is - the banks are a slow-play for Ripple.  xRapid will take a few years to prove itself.  Other banks will see those early adopter banks making savings of time and money, and then THEY will hop on board.  And yes, that's still a few years away (IMO) when we get to that bigger adoption wave.

However, that is not stopping Coil, Xpring etc helping XRP gain more value - showing that XRP is utterly irrepressible, flexible and - IMO - the most liquid, fastest, cheapest crypto with the best platform support for all kinds of 3rd party ideas.  SWIFT's business category is but a thin slice of the Internet of Value pie. We will find it laughable in 5 years' time that we used to think SWIFT was some kind of threat to XRP.  

XRP is a long hold.  I just see it as giving me a professional salary for each year I am holding.  The only thing is - I don't get paid til I cash out.  Not a problem.  I'll hold.  I know how long this will take - it'll take time.  It'll take years.  Haing said that, I will see my XRP going up in value over those years.   In the end, it'll pay off incredibly (and yes, I do still have a job, of course).

 

Great points. One more that I didn't see you mention is derivatives. That is a huge market as well

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52 minutes ago, 2ndtimearound said:

xVia - peer to peer payments

Why do you say that xVia is "peer to peer" payments?

---

Good post, comparing RippleNet to SWIFT is a bit like saying, "horseless carriage" in the 1910s.

Looking at RippleNet from SWIFT's perspective (not the company, but the 1970's era perspective, and the preservation of) you will not see the full vision of RippleNet, rather you will focus on the parts that pertain to the SWIFT niche, within the framework of the current system's architecture, and may even tend to try and view XRP as some sort of improvement upon the initial improvement that SWIFT provided the system of the 1970s when it was created.

Looking at SWIFT from a RippleNet perspective (not Ripple the company, but the 2010s era perspective of internetworking networks into complex adaptive systems) you would see SWIFT as a great solution for its time, but lacking a few of the essential ingredients to provide the functionality set required in the Digital Networking era. SWIFT can survive, albiet within the new RippleNet system architecture. 

Edited by KarmaCoverage
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22 minutes ago, KarmaCoverage said:

Why do you say that xVia is "peer to peer" payments?

---

Good post, comparing RippleNet to SWIFT is a bit like saying, "horseless carriage" in the 1910s.

Looking at RippleNet from SWIFT's perspective (not the company, but the 1970's era perspective, and the preservation of) you will not see the full vision of RippleNet, rather you will focus on the parts that pertain to the SWIFT niche, within the framework of the current system's architecture, and may even tend to try and view XRP as some sort of improvement upon the initial improvement that SWIFT provided the system of the 1970s when it was created.

Looking at SWIFT from a RippleNet perspective (not Ripple the company, but the 2010s era perspective of internetworking networks into complex adaptive systems) you would see SWIFT as a great solution for its time, but lacking a few of the essential ingredients to provide the functionality set required in the Digital Networking era. SWIFT can survive, albiet within the new RippleNet system architecture. 

Yes it's a bit confusing - I mean that it's a more direct way for person A to pay person B - a bit like sending an email, but you send money.  It's not strictly peer to peer. Will edit that part as it's confusing.

Good post by the way.

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Although I understand your statement I don't think we have to forget that Coil, Codius, Xvia, Xpring and business to business payments like via SAP isn't guaranteed to be succesfull.... So does the usage of Xrap for FI.. Those who are involved in the crypto space may have heard about Coil etc but the average Joe isn't paying attention at all to those kind of things.

#nofudjustopinion

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Quote

Then think of those speculators who see that XRP's got this permanent trickle of buys and sells no matter what - its volume is stuck above a certain level.  It would quite literally be the only crypto with utility volume of any decent size.  All of this has absolutely jacksh!t to do with SWIFT. XRP is outside of SWIFT's punching range in these categories.  XRP is golden.  It has way too many use-cases. 

Great observation(s)!

The only thing you might consider changing is "way too many" use cases..... maybe to "Sooooo Many More" use cases.

hodl

 

 

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4 hours ago, MisterRipple said:

Although I understand your statement I don't think we have to forget that Coil, Codius, Xvia, Xpring and business to business payments like via SAP isn't guaranteed to be succesfull.... So does the usage of Xrap for FI.. Those who are involved in the crypto space may have heard about Coil etc but the average Joe isn't paying attention at all to those kind of things.

#nofudjustopinion

yeah well no new tech is guaranteed to be succesfull - from an investors perspective it would have been to late for us if these things already are succesfull...

#ithinkeveryoneknowsthat

Edited by VanHasen
typo
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5 hours ago, MisterRipple said:

Those who are involved in the crypto space may have heard about Coil etc but the average Joe isn't paying attention at all to those kind of things.

#nofudjustopinion

anything that contributes to sustainable volume contributes to price...FOMO (the average Joe) comes and goes, but the higher the volume floor, the bigger the potential FOMO price wave

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On 9/14/2018 at 4:32 PM, 2ndtimearound said:

XRP is a long hold.  I just see it as giving me a professional salary for each year I am holding.  The only thing is - I don't get paid til I cash out.  Not a problem.

 

Eye to eye on this. Good to see you are still on track, I was fearing the bear market was getting to you at some point.

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