> You can't be making threats and not expect people to try to avoid the thing you're threatening.
You should assume reasonable people already know SWIFT was going to be used as a threat at one point or another. So I'm not sure you're saying anything new. Those people continue to use it because it's permeated all over financial world very much like the dollar is. The cost to move away from it is non-zero and the alternatives aren't subsidized enough by the likes of China to incentivize others to join them and if not enough people are joining you won't have a network effect.
You should assume reasonable people already know SWIFT was going to be used as a threat at one point or another. So I'm not sure you're saying anything new. Those people continue to use it because it's permeated all over financial world very much like the dollar is. The cost to move away from it is non-zero and the alternatives aren't subsidized enough by the likes of China to incentivize others to join them and if not enough people are joining you won't have a network effect.