Bitcoiner Tone Vays Tweets PayPal Is Better Than Ripple And XRP Army Heads Out To Defend

The battle between cryptocurrency and the traditional financial world began the second that Bitcoin was created, though the two types of assets have few similarities. Now, comments by Tone Vays on Twitter have sparked a debate among the community, revealing some interesting statements.

  • Recent research reveals that Ripple’s transactions per second are six times greater than PayPal’s transactions per second.
  • Bitcoin’s accounts cannot be censored, providing an advantage over Ripple.

In a world where social media and contradicting opinions are popular, it should come as no surprise that Twitter is being used as a platform for another debate. This one is about Ripple and PayPal, starting with a tweet by Tone Vays. Vays is a derivatives trader and the host of a podcast on the matter, and he passively criticized the speed of Ripple, in comparison with PayPal.

Ripple supporters, being the strong and opinionated group they are, popped up quickly to counter the statements. One user stated that PayPal took three days to issue his funds, adding that there’s “a huge commission” included, which is often a 3% fee on the website. A support bot by PayPal chimed in, apologizing for this circumstance.

XRP transactions typically only take a few seconds to go from one wallet to another, and a few minutes when the transactions go-between exchanges. PayPal has the ability to settle transactions between its own accounts within a few seconds, but bank transfers can take up to five business days, depending on the bank.

While it’s easy to argue about the faster speed of XRP, another user pointed out that Ripplenet doesn’t actually use XRP in their fund transfers, asking what is making consumers hopeful over XRP’s performance. After all, it doesn’t actually impact the success of Ripple Labs.

HowMuch.net decided to analyse the speed of transactions per second for Ripple and other cryptocurrencies last year, in comparison with the same speed of VISA and PayPal. The data revealed that XRP was capable of processing six times more the transactions per second that was recorded for PayPal. The research also noted that Ripple exceeded PayPal’s speed by 1,307 transactions per second, suggesting that Ripple could actually be applicable at a much larger scale as a payment solution.

The original tweet by Vays was in response to user XRP_Cro, who seemed humored by the idea that some people believe Bitcoin is “king.”

Vays argued that there were many qualities that Bitcoin has that Ripple doesn’t, including the fact that there is no way to censor Bitcoin’s accounts. Furthermore, the funds in these accounts cannot be pulled from investor’s accounts.

Presently, Bitcoin is valued at $8,817.84 per BTC, while Ripple’s XRP is valued at $0.273008, though both are recording small gains in the last 24 hours.

Bitcoin (BTC) Live Price

1 BTC/USD =$9,432.1014 change ~ -0.11%

Coin Market Cap

$173.44 Billion

24 Hour Volume

$7.83 Billion

24 Hour VWAP

$9.48 K

24 Hour Change

$-10.0371

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Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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