Comments by "SAL" (@SAL-fs1mr) on "Kitco NEWS" channel.

  1. Answer: the Fed's manipulation of the currency.
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  2. Miners earn fees from all the transactions on the bitcoin blockchain. Currently the fees accounts for 10% of the reward, but in the coming decades the fees will provide 100% of the incentive.
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  3. Good thing Bitcoin full nodes control the network, not miners. This was proven in 2017.
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  4. No, that's incorrect. Fiat collapse means the price of Bitcoin goes towards infinity. You're confusing price and value.
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  5. Many altcoins are faster, but lack security because speed and security trade off with each other. And bitcoin is the most secure, the network uses more electricity than many countries.
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  6. Nope, he makes too many statements that indicate he isn't satoshi.
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  7. There are non custodial methods of passing your BTC down to your heirs.
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  8. To be outside the system, hold your own gold coins and your own Bitcoin. Don't trust others to hold them for you.
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  9. It only seems that way because Bitcoin has no go-to person to go after. In other words, Bitcoin is actually decentralized and everything else isn't.
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  10. Except it will drive talented people and innovation to other countries, so the incentive is actually to have Bitcoin around - which is why the government is about to approve a Bitcoin ETF.
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  11. Too small, too irrelevant, no unique utility, relies on centralized trust in the ripple company. take your pick.
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  12. Hurry, sell me your bitcoin Dion!
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  13. What are you talking about? He obviously said he is also holding some ETH.
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  14.  @MarkConway73  you seem to have your own understanding, most would definitely say that a bitcoin maximalist holds only bitcoin, no altcoins. And by the way, the user activated soft of 2017 proved that nodes control bitcoin, not miners.
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  15. The ability for companies to fractionalize bitcoin is not anywhere near the potential of what was achievable with gold. People will gravitate towards the companies that can do proof of bitcoin reserves. If you need your Bitcoin anonymized, just use mixing wallets and services. At the end of the day, If you want to be self sovereign, you want to hold physical gold coins and your own Bitcoin private keys.
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  16. Smart people will know that it doesn't really matter who satoshi is because the code is completely open source for anyone to review.
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  17. All the other coins make significant trade-offs that make them inferior stores of value compared to Bitcoin.
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  18.  @MikeCanestaro  any attempt to replicate Bitcoin just results in the creation of yet another altcoin, and altcoins are not scarce.
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  19. "Bitcoin SV is even cheaper and only 21 million." There is only one bitcoin and everything else is an altcoin.
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  20. Many people don't even try to understand bitcoin, they just believe what others tell them. Ponzi or tulips or some other false narrative, they'll blindly believe.
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  21. Tulip mania only last 2 years when the bubble fell, it didn't grow back.
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  22.  @kirilmihaylov1934  no, bitcoin already had several bubbles each bigger than the last, meaning we are seeing growth similar to the internet.
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  23.  @kirilmihaylov1934  it already isn't.
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  24. Actually, he put all his cash into Bitcoin about a year ago and now Bitcoin has doubled since then.
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  25. Bitcoin can actually go carbon neutral, and also go carbon negative. But I'm sure there are centralized altcoins that fit better for ESG agendas.
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  26. Crypto is 2 categories: bitcoin and all the altcoins (which includes clones). Bitcoin is limited in supply, altcoins are unlimited.
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  27.  @MP-zf7kg  you're missing some key aspects of what makes bitcoin unique. There is more than just code. You can't just clone the mining infrastructure (and the 12 year history of proof of work) and you can't just clone the network effect. Any attempt to clone bitcoin just results in another altcoin - this has been clearly demonstrated as there has been plenty of attempts doing exactly what you propose, all failing spectacularly.
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  28.  @MP-zf7kg  poor analogies because bitcoin isn't a company, it's an internet protocol. if you come across a clone, point it out to me, and I'm sure I'll be able to show how it is just another altcoin.
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  29. Venezuela and Iran central banks actually are accumulating bitcoin.
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  30. BSV is a centralized altcoin created by the known scammer Craig Wright.
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  31. Bitcoin price has DOUBLED since the start of this year.
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  32. Nah, BSV is super centralized. How many full nodes do you suspect there is?
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  33. Smart people will still want bitcoin.
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  34. Bitcoin is the most valuable blockchain.
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  35. He's correct.
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  36. The early code was prototype, now it's battle-tested and robust.
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  37. It will be like outlawing marijuana, everyone will still use it in secret.
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  38. 🤢🤮
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  39. It's not wasted, they are getting paid for using the energy.
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  40. Nah, hbar is super centralized.
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  41. Chain link serves only a minor role, especially compared to bitcoin as the standard.
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  42. Bitcoin upgrades only go through if nodes choose to upgrade, and all the upgrades are backwards compatible, so no issues if you don't want to upgrade. This isn't the case with other cryptos.
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  43.  @ctcsys  you definitely have your history wrong. The blocksize war of 2017 was nodes forcing miners to abandon the blocksize increase. It was the nodes who chose segwit, not the Miners. Miners are the slaves in Bitcoin, because if they don't follow the rules set by the nodes, their work is meaningless.
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  44. XRP isn't a good choice because it means you have to trust the Ripple company to not dump over 50% of the XRP token supply and they also have control over the xrp network architecture.
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  45. Pretty much anyone can buy as little as $1 worth of Bitcoin.
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  46. Which shitcoin are you recommending?
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  47. How so?
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  48. Bitcoin is deflationary due to its fixed monetary supply.
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  49. The giant fraud now is the central bank fiat currencies, and bitcoin is the way to short them.
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  50. Time will tell.
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  51. But my answer is yes.
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  52. 500,000 daily blockchain transactions is plenty for scaling as base layer global settlement. Less important protocols will do fast, cheap, and scalable consumer payments.
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  53. The thing you're missing is that Bitcoin can't be printed like fiat. It has a capped supply and to make new Bitcoins, you have to expend enormous amounts of electricity and compute power. And any average PC can mathematically guarantee the supply without needing to trust any corporation.
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  54. Bitcoin is an emerging store of value, so yes, expect volatility on the way up until it reaches saturation.
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  55. LOL! Make sure you sell all your BTC now so you can buy even more at 10K, ok?
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  56. Venezuela and Iran central banks have bitcoin.
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  57. Laundering on the publicly auditable bitcoin blockchain? Only the dumbest people would try that.
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  58.  @mehditaba6303  that doesn't make sense. Why would bankers make a system that enables the people of the world to bypass them?
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  59.  @mehditaba6303  have you seen what the costs are for global money transfers? Also, everyday payments is not an important use case at this point.
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  60.  @wittiza2102  wrong. Man made islands.
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  61. There is only one Bitcoin - BTC. All other cryptos are called altcoins.
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  62.  @michaelalpine4198  there are very many lightning projects built on it. Again, you keep showing that you haven't done the research at all.
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  63. Nah, he's not.
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  64. Which means he went from being ignorant to being informed.
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  65. Lol! This has aged like milk 😂😂🤣🤣
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  66.  @cryptocrusader6078  lol! I hope they do go after the tether company. People will quickly dump their tether tokens for bitcoin, pumping BTC price higher.
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  67.  @cryptocrusader6078  oh yeah totally. There is zero buying of bitcoin by corporations and billionaires. Just tether only. /s Quit being a dumb ripple serf and wake up to reality.
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  68.  @cryptocrusader6078  that's a false narrative. Miners don't control bitcoin, nodes do. This was proven in 2017.
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  69. Given that he supports CBDCs, Judas is the better description.
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  70. Your don't need much infrastructure in developing countries to trade bitcoin. Just smart phones.
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  71. Monero is not superior. It sacrifices supply auditability for privacy. If you shill an altcoin, at least be honest about the trade-offs.
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  72. what is responsible is centrally (mis)managed fiat money system, which is probably closer to the marxism end of the spectrum.
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  73. All other problems being tackled by cryptos are small compared to bitcoin emerging as a global store of value.
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  74.  @dustinglossop4440  all those are less important and less valuable than having a digital global store of value.
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  75.  @dustinglossop4440  when talking about bitcoin, we are referring to an open internet protocol! Not companies or browsers. We currently use TCP/IP and SMTP from the 70's and 80's, and they reached Network effect escape velocity within 10 years. Bitcoin is now established as the open internet protocol for monetary value. All the other use cases of crypto you brought up are tiny by comparison.
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  76.  @dustinglossop4440  first of all, bitcoin emerging as a global store of value means eventually capturing $10 to 100 trillion worth of value. Second, the bitcoin lightning network already enables instant and fast BTC payments that are peer to peer. Therefore, no altcoin is needed for that less important usecase.
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  77.  @dustinglossop4440  not sure about replacing banks and fiat, most people don't rely on them primarily to do long term store of value anymore. By the way, trader university's latest video, he highlighted a comment that you made similar to how you did here. He is on the same wavelength as me, everything else in crypto is no where near as important as the store of value utility.
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  78. Nah. Bitcoin is the most useful and obviously superior to all altcoins.
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  79. Eos is centralized
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  80. That's a low tier altcoin.
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  81. He's actually right on point though. Eth isn't an adequate store of value, it's a platform for applications.
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  82. Yes it is a medium of exchange. There are many ways of transacting bitcoin very cheaply.
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  83. You're the one with the hex logo tho.
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  84.  @jason1234934  you know your yield hasn't kept up with the hex price decline, right?
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  85. Bitcoin will be the only escape, so it will actually be worth magnitudes more than now.
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  86. The real pull back will probably happen around December 2021. Bitcoin has 4 year cycles due to the halvings that occur every 4 years.
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  87. Because it is extremely easy to do full verification and extremely easy to take full custody. Gold is slow to move and difficult to verify (tungsten).
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  88. Look at charts over a several year timeframe instead of a few minutes.
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  89. There is 2 categories of cryptocurrencies: bitcoin and Altcoins. Anything that tries to replicate bitcoin is a just another altcoin. There is only one original bitcoin.
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  90.  @GiuseppeMessinaCFA  nope, all those examples you gave are altcoins, that is common knowledge. You should learn more.
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