Comments by "SAL" (@SAL-fs1mr) on "Jordan B Peterson" channel.

  1. Go ahead and duplicate it, see how long it will last without the network of users and miners behind it.
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  2. if your goverment is making math and software illegal, then they are infringing on free speech, so it will be a clear indication to get out of that country if you care about having rights, and take your bitcoins with you in your head by memorizing you bitcoin seed phrase.
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  3. Any such attempt will just be yet another centralized altcoin.
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  4. You are correct at first that happens, but then shortly afterwards the difficulty adjustment algorithm resets it back to 10 min intervals between blocks.
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  5. He's referring to supply inflation/deflation. If I have a certain amount of bitcoin, it will always be a fraction of the total 21 million supply limit regardless of what the price is.
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  6.  @kendreamer6376  it's bad math to believe increasing divisibility increases supply. That's like believing that cutting a pizza into more slices gives you more pizza. It doesn't. Fiat means by authoritative decree, Bitcoin isnt fiat, it is chosen by the free market.
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  7. Transaction fees will be the incentive
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  8. "That will be 17 satoshi's please" easy.
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  9.  @dangermouse1234  the dumb people will buy sv
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  10. No, Craig is a just a conman.
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  11. By having more people mine bitcoin.
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  12. If you want a future controlled by corporations, yea, go with hbar.
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  13. He highly values his privacy.
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  14. The miners continue to earn transaction fees.
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  15. Yup, that is precisely what the big banks do, without bitcoin.
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  16.  @1slamExplained  imagine trying to start such a bitcoin 2.0 - who will be the central starting point for launching it? who is the central person or group in charge of the publicity of this new bitcoin? how do you know the launching point person will eventually step away? how will it not have insiders? or people ready to game the mining from the start with very powerful computers? what are you trying to achieve with bitcoin 2.0 anyway? especially when bitcoin has already done the fairest launch possible. there is already an altcoin called bitcoin 2, so go see that as a prime example of how such attempts fail. any attempts at replicating bitcoin will just give you a new altcoin. Bitcoin has the most proof of work securing it, which is not something that can just be replicated. at best you can just make a weaker network compared to bitcoin, such as litecoin.
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  17. Your train of thought doesn't make sense: "Bitcoin is going to be so successful, that it will magically fail."
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  18. Lightning network has made your points irrelevant.
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  19.  @MegaMarclar  nope, the funds are never trusted to others in a lightning channel. You should do your homework instead of repeating misinformation. The funds are not offline either.
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  20. Multisig wallet - several keys needed to access funds.
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  21. Longer time frames.
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  22. 1 Bitcoin is divisible into 100 million parts called satoshis or sats.
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  23. When blocks get mined, they include special transactions that generate new coins.
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  24. Proof of stake is a system controlled by those who have the most, which is already how much of the world already operates.
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  25. Fiat means by authoritative decree. So no, Bitcoin is not Fiat.
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  26. Because in that situation you still have to trust the central authority holding the actual gold. Trusting a central authority is what Bitcoin solves.
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  27.  @klrrafman  CCP has actually shown that Bitcoin keeps working despite their best banning efforts.
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  28. The altcoins typically manipulate consensus rules when they upgrade, so "hardcoded" supply limits can be changed.
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  29.  @MegaMarclar  no, the same can't be said of Bitcoin. In 2017, the majority of miners tried to change bitcoin, but failed. Even if a majority of nodes tried to do an incompatible consensus rule change, all they do is make a new altcoin.
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  30.  @MegaMarclar  "china controls most of the mining power" - you are completely clueless if you believe this. If you can't keep up with simple news about how there is now practically zero bitcoin mining in China, I don't expect you to have an understanding of the nuances of what makes Bitcoin completely different from all the altcoins.
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  31. The epitome of centralized company coin.
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  32. Where in the source code have you identified that such a key can alter bitcoin? Take your time figuring it out.
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  33. Nah, Dr. Peterson is smart enough not to fall for narcissistic conmen.
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  34. China did just that earlier this year. Bitcoin continued to work just fine.
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  35. Michael Saylor would say only bitcoin is an asset, other cryptos are ventures.
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  36. You're watching this during the Bitcoin Buying Opportunity.
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  37. King of the altcoins, sure.
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  38. There is plenty of Bitcoin blockchain analysis that shows that isn't the case. If you are concerned about cartels, just look at how the traditional banking system is structured.
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  39.  @Gigahoozzz  regulated can still mean criminal - if you want to develop an understanding of how and why, read "The New Confessions of an Economic Hit Man" by John Perkins.
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  40. To whoever sold it to you.
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  41. It will still be the miners. Instead of new coins being the main incentive, the earning of transaction fees will be the main incentive.
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  42. Satoshi doesn't have any control of Bitcoin. Not even a potential for it to happen.
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  43. In general, they wouldn't if they can help it, but they might have to for unexpected expenses that have to be paid in fiat.
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  44. Government can't restrict access to coins you have in your possession, and neither can whales.
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  45. Bitcoiners won't care if satoshi shows himself, they'll make sure he is just another user, he has no special control over bitcoin.
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  46.  @alexs0105  the code is completely open source for everyone to analyze, so if you think there is a crack or mathematical flaw, then point it out. Otherwise all your have is baseless conspiracies.
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  47.  @alexs0105  if you can't be specific, then it is a conspiracy. Bitcoin is not a billion, it is over a trillion now. You can convert Bitcoin to fiat, but that is a loser strategy.
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  48.  @alexs0105  so you're going to keep working all your life and store the value of your work in food that will eventually spoil. You sound very uneducated about money.
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  49. Transaction fees.
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  50. That's not the proper analogy, bitcoin isn't a company, it's an internet protocol. How do you explain TCP/IP not being supplanted after 40 years? Second layer protocols take care of any perceived inefficiencies in Bitcoin.
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