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

  1. No, bitcoin isn't a proof of stake system.
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  2. People will have to spend Bitcoin on necessities, it will be frivolous spending that gets de-incentivized.
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  3. Yea, he talks about how MMT is a complete sham on his podcast.
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  4.  @Rex69Rutherford  why wouldn't they stay? Mining will continue, they'll be earning transaction fees instead of new coins.
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  5.  @Rex69Rutherford  Bitcoin transaction fees are paid in Bitcoin.
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  6.  @Rex69Rutherford  each Bitcoin transaction on the Bitcoin blockchain pays a miner fee. This is different from the new coins getting created. You are confusing the two.
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  7. Not so when it comes to Bitcoin.
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  8. The Bitcoin Standard.
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  9.  @smakulaacis  both
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  10. Marijuana was banned while I was growing up, but all the highschoolers were smoking it.
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  11. If. May or May not happen. Hedge accordingly.
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  12. Where did you learn such misinformation?
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  13. No, Bitcoin's value is not based on the fiat system. Just because it has a fiat price doesn't mean it relies on fiat.
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  14.  @christianjack8189  without fiat around, Bitcoin would be the unit of account itself.
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  15. Miners currently have 2 sources of incentives: new coins and transaction fees. Once all the new coins are mined, the incentive will be all the transition fees, which should be orders of magnitude bigger than what it is today.
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  16. Where did you learn that piece of misinformation?
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  17. This type of thinking is exactly how people get scammed.
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  18. This episode relates to both. The only time Jesus became aggressive was against the moneychangers. Bitcoin is a fight against today's moneychangers, the central banks. I would recommend that you read "Thank God for Bitcoin: The creation, corruption, and redemption of money". And they talk about how the nature of the money drastically impacts people's time preference (delayed gratification) - a key psychology concept.
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  19. No, the newer coins lack immutability, the consensus rules get altered by insiders.
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  20. you're also missing 15 years of proof of work history. In your hypothetical, the nodes and miners, if indeed following the same rules of the BTC algorithm, would simply converge on the original network and wouldn't keep building on the new chain.
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  21. Not really, other cryptos have clear points of centralization, which doesn't lend to the same discussion.
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  22.  @Mister_Merb  not really. You'll realize that they are decentralized in name only once you have a deeper understanding of them.
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  23. Maybe your comment isn't real.
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  24. Bitcoin would survive any temporary shutdown. A permanent shutdown of the internet just isn't feasible.
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  25. No, altcoins are a different category separate from Bitcoin.
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  26. The new technologies don't do money better than bitcoin. Too often people confuse payments with money.
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  27.  @YSFmemories  The added inherent complexity of adding smart contracts to the same base protocol that is in charge of the money necessarily means a trade-off in security. so no, I don't think most reasonable people would say that is better money. smart contract functionality can be a different protocol that still uses bitcoin, you don't need an altcoin for it.
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  28. Hex is just another example of a scammy altcoin.
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  29. I guess you're one of those people who likes having corporations in charge. Look up how hedera is controlled by a small governing council of corporations. And the code isn't even open source, so that's another huge red flag.
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  30. Not really, ethereum makes drastic sacrifices on immutability, you don't know what the protocol rules will look like on ten years, but you can be sure about the bitcoin rules not changing.
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  31. Bitcoin is the original decentralized blockchain.
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  32. Miners continue mining to earn all the transaction fees.
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  33. Of course BCH can be censored, it is easy to 51% attack it, it only has 1% of the mining compared to Bitcoin.
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  34.  @sheriu7167  I was very thankful for the bcash I was given, I was able to sell them for a few more Bitcoin. My best trade ever!
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  35. Start with googling "captain america jordan peterson"
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  36. People are not prepared! Few.
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  37. No, the other coins do not have the same values. Making new coins means you don't care about having scarcity. And decentralization is weakened as there are heads of these projects who are still dictating how each altcoin will change as they wish, thus lacking immutability.
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  38.  @mariodean4290 my point is that bitcoin is in a class of its own, other coins don't compete with bitcoin on the same values.
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  39. Plenty of innovation is currently happening on top of bitcoin in second layer protocols. The schelling point is bitcoin as the asset.
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  40. No, miners continue to earn fees from the transactions they include in the blocks they mine.
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  41. One Bitcoin is divisible into 100 million satoshi's.
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  42. Fiat means "by authoritative decree", so no, fiat doesn't describe Bitcoin at all.
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  43. No, Bitcoin didn't split, rather, there was a new altcoin launched in 2017.
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  44. Then 50 millions minnows buy the dip and increase their forever stack.
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  45. Long live ripple, I hope the company doesn't go under otherwise xrp won't survive.
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  46. I really wish Saif would buy into my shitcoin that I started up a few months ago.
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  47. Email is often depicted as an envolope. It's just to highlight what it is meant to replace.
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  48. That was asked about at around the 8 minute mark.
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  49. Bitcoin lightning network. It scales Bitcoin payments globally for everyday usage. Transactions are instant with negligible fees. it isn't hypothetical, it already exists.
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  50. We know satoshi has no control because the code is completely open source, there is no part of it that gives him control.
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