Bitcoin bull Tone Vays thinks XRP can’t compete with PayPal as a means of payment or as a currency.
Vays, a veteran derivatives trader and longtime XRP critic, recently responded on Twitter to claims about XRP’s efficiency and supremacy.
Analyst and Adaptive Capital partner Willy Woo also hopped in the conversation, arguing that Ripple’s success doesn’t necessarily mean anything for XRP.
“It gets better than that. If you’re using the native Ripplenet to transmit funds there’s no need for XRP. I have no idea why people think Ripple Labs’ success or failure reflects in this fund raising token.”
The subject of the initial tweet centered on BTC vs. XRP before Vays entered the arena.
XRP transactions typically settle in a matter of seconds, faster than Ethereum and Bitcoin, which typically settle in a matter of minutes. However, transfer times for both BTC and ETH have stretched to well over an hour during periods of high network congestion.
Bitcoin can process about seven transactions per second; Ethereum can handle about 15 per second; and XRP can process about 1,500 transactions per second.
As for PayPal, the company says transactions are settled instantly when people send funds using their PayPal balances.
However, a PayPal transaction can take several days to complete when users send money using their bank accounts.