Ninjastic
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Post
Topic
Board Altcoin Discussion
Re: Why Ripple is Superior to Bitcoin...
by
bitaccumulation
on 10/05/2013, 21:40:49 UTC
Quote from: wingding on May 10, 2013, 09:25:24 PM
Quote from: bitaccumulation on May 10, 2013, 09:22:24 PM
Quote from: wingding on May 10, 2013, 09:19:38 PM
Ok, so if I want to do a payment or move some money - why should I use Ripple, when I already have Visa and PayPal, and perhaps also bitcoin?

The end user most likely won't be the one to choose this intially.  Most likely you will end up using Ripple because a company is using the system and you'll have a custom app to access it.
Well, If I actually am the company, why do I use Ripple for my payments rather than the alternatives?

I should be more clear... these companies will most likely be financial type companies that are involved in money moving already.   Why would they use this?  Low to no cost of implementation and maintenance while simultaneously allowing your customers more services.  There might be other reasons too.   But those would be the top one's I would think.   Through this interface you could send $120 US to someone by sending BTC,  or 300 EU by sending an equivalent in LTC.   If two banks you deal with are on the system you could send your money from one to the other account instantly.   A merchant would be able to accept 100's of currencies if they wanted to without using different merchant providers, you could send $100 from your bank account to your friend in Italy without having the extra step of sending it to a Paypal. etc. etc.