Comments by "SAL" (@SAL-fs1mr) on "Lex Fridman" channel.

  1. Lightning network.
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  2. When it comes to cryptocurrency, bitcoin is the king, it is the standard. Bitcoin alone accounts for the lion's share of the entire crypto ecosystem. Avoid altcoins as the vast majority are scams or failures, and the ones that aren't are probably not going to keep up with Bitcoin's value appreciation in the long run.
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  3. Presales of token = security.
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  4. Don't worry Lex, I just subscribed precisely because you interviewed Saylor.
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  5. Just completely ignore lightning network and taproot.
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  6. Cardano is not special, it is just another altcoin.
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  7. All POS systems enable the whale stakers with more money and/or control over the system, and new entrants cannot displace the whales. Bitcoin's POW solves this.
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  8. Most everything else has an even smaller percentage of people owning the majority of it. In the end, you should want to hold the best asset that can't be debased or made easily.
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  9. Just another centralized altcoin.
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  10. Cash is what you want to use for all those things. The Bitcoin blockchain is highly trackable.
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  11. Bitcoin is the one. Cardano is just another altcoin, not special at all.
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  12. He already said he will, he and his company will continue to acquire Bitcoin forever.
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  13. I think the goal is to have a system that doesn't have this 4th function. It is precisely why bitcoin was invented.
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  14. Satoshi mined his coins, he didn't give it to himself or raise funds. Not a security.
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  15. Falling for altcoins is the litmus test of those being easily suckered.
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  16. In the US, many libertarians who believe in the first and second amendment very strongly are also huge bitcoin advocates. As prices stand now, bitcoin has fared better in the last week than any other asset.
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  17.  @Airic  yes, it did ICO. Doesn't mean it is a security for sure, but I would say it is security like, and thus you have to consider future risks of an SEC crackdown.
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  18. No decentralization.
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  19.  @DrDime_  if you can afford the debt, it isn't irresponsible. You are conveniently forgetting he runs a successful enterprise software corporation.
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  20. You have to spend to live. So the result will be less frivolous spending.
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  21. Don't waste time with those. Bitcoin is the standard.
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  22.  @brushstroke3733  energy production is decentralized all over the world. For example, solar energy is available across the earth. If someone has a geographic monopoly, it doesn't stop others from pursuing their own energy production. Small energy producers have the nimble advantage of going to isolated pockets of cheap energy, meaning they can't be stopped from taking the fees offered by the users.
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  23. Still not a security.
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  24. If the supply of above ground gold increases by 2% every year, then the total supply will double in 35 years.
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  25. XRP is definitely way more centralized compared to Ethereum. XRP simply can't work without the ripple company. Super centralized.
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  26. No, it can have features added in second layer protocols. No need for many changes to the base protocol.
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  27. Bingo.
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  28. He mentioned altcoins being like securities, which obviously includes Ripple's XRP.
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  29.  @christopherround5831  actually, the cryptocurrencies that require less energy to main means it takes less energy to attack them.
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  30. All we can say for sure is that Craig Wright is NOT Satoshi. Suck it bsvers.
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  31. Gotta be oPeN MiNdEd. I guess that means talking to scammers.
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  32.  @PureWaterSolutions  there was a concerted effort of developers, miners, and bitcoin companies to change the blocksize variable in Bitcoin in 2017. But users determine the rules and the users blocked them. If it didn't work for the blocksize variable, it won't work the for the supply variable.
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  33.  @PureWaterSolutions  no, that's wrong. Any changes by the developers is meaningless when the users are the ones who choose the version of the code to run. You should study bitcoin more carefully, it isn't similar to other systems you are familiar with.
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  34. Coinjoins, payjoins, and lightning network add back fungibility. I wouldn't trust my Bitcoin wealth in a less proven altcoin.
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  35. Yes
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  36. Lol, only a newb would believe that
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  37.  @carolynklestinec8589  nah, it's all a clown show. He doesn't have access and he keeps trying to get judges to order miners to move coins for him since he knows doesn't have and will never have the private keys.
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  38. If you are not verifying proof of work, it turns into trusting others.
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  39. Maybe, but that new coin would still just be an altcoin.
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  40. He would defer to his other main point of having low time preference, as waiting enough time will prove which is the smarter to hold long term.
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  41. The code for Bitcoin is completely open source, so can you please point out the part of the code that gives satoshi the ability to debase the supply???
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  42.  @I_Lemaire  he probably does have a fair amount from mining Bitcoin early on when no one else was helping with mining Bitcoin. But that doesn't mean he is able to debase the Bitcoin supply. The max supply is fixed at 21 million.
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  43.  @I_Lemaire  I would welcome the opportunity to buy cheap Bitcoin. It would be a major price drop, but it would be temporary. Already happened plenty of times in Bitcoin's history. The Bitcoin network would keep working without any interruptions.
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  44.  @I_Lemaire  reckless people and companies deserve to go bankrupt. I don't see the problem.
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  45.  @I_Lemaire  "crypto" is the problem. I've studied altcoins for almost 10 years now, and they are definitely not resilient or decentralized. Putting any wealth there is definitely reckless.
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  46.  @I_Lemaire  no, by definition anarchic would mean no rulers. Satoshi's holdings does not give him control over the Bitcoin protocol, Bitcoin isn't a proof of stake network. A temporary price drop in Bitcoin is always survivable as evidenced by Bitcoin's history, the alternative is an altcoin system like UST/Luna where the collapse is complete, or a system where you have complete protocol control by others (proof of stake systems).
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  47.  @I_Lemaire  it would be temporary because many would be smart enough to recognize it as the best buying opportunity they'll get. I know I would be buying in such a scenario. We talking only about 5% of the supply. That's equivalent to the MtGox hack, and bitcoin survived that, so why not the hypothetical satoshi scenario? I've mentioned already that I've studied altcoins extensively. Yes, each is a little different, so choose which one you think has merit and I'll explain why it doesn't.
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  48. You can put cash in and get bitcoin on your phone. You can keep the bitcoin or send it to anyone else in the world.
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  49. No, eth is more like a security because if you hold any, you own voting shares of the eth protocol.
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  50. Yes, that's why Bitcoin is the standard.
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