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

  1.  @tristinorgano2759  take a few years even, it's not going to change the facts.
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  2.  @tristinorgano2759  🤦🏼‍♂️ literally doesn't matter. They are both centralized systems regardless of what some bureaucrats declare.
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  3.  @tristinorgano2759  if a bank printed billions of dollars and bought Bitcoin, you could claim it was artificially pumped that way too. Tether doesn't change the dynamics of all fiat being Ponzi's. The Ripple company controls over half the xrp supply and they also control the UNL of the XRP network. Super centralized. The RP in XRP stands for Ripple, the company.
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  4. It's not. It's just another centralized company altcoin, not special at all.
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  5. Does your question here even exist? Don't confuse digital with nonexistent.
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  6. You are describing the problem of central banks and their fiat currency systems. This is why we need a Bitcoin standard.
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  7. Correct when it comes to crypto. Bitcoin is different from crypto though.
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  8. Total gold supply is debased every year as the supply keeps growing.
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  9. Probably both of those at the same time.
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  10. We don't hate xrp, but we are definitely laughing!
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  11. Look up kardashev scale
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  12. Just because things are priced in fiat doesn't mean it needs fiat to have value.
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  13. His company was worth less than $1billion, and after buying Bitcoin, it is now worth several billion $.
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  14. Art isn't divisible and fungible, and portability is not good. There are key characteristics we have always looked for when it comes to money.
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  15. Nah, it's centralized via the UNL managed by the Ripple company. It's a banker's project. Bitcoin is for the people.
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  16. Xrp is a joke.
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  17.  @flicndills123  it's completely centralized. The Ripple company controls over half the xrp supply and they also control the trusted node list called the UNL. The point of Bitcoin is to not have any trusted entities, so xrp completely fails on this.
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  18.  @flicndills123  doesn't matter if the funds are in escrow, ripple still own them, and they will dump them in the coming years. They chose the other validator nodes, ripple can choose replace them just as easily. Miners don't control Bitcoin, this was proven in the 2017 blocksize war.
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  19.  @flicndills123  doesn't matter, the UNL of trusted validator nodes is controlled by ripple, and you just admitted to trusting them as a central entity. Eth isn't much better. Bitcoin stands alone. Bitcoin is the standard, get used to it.
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  20.  @flicndills123  Bitcoin is the only truly decentralized protocol for value storage and transmission. Everything else you listed off has a clear central points of failure as I've highlighted already with xrp. So if you think trusting central entities is somehow innovative, you've lost the plot. I've already been around in crypto ten years to witness xrp fail to deliver on utility, ten more won't change anything. I have no problem with allowing more time to prove the point further.
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  21.  @flicndills123  central banks are going to hold Bitcoin, not xrp. We already know billionaires are holding Bitcoin. You can't even list 5 billionaires holding xrp.
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  22.  @flicndills123  lol! You talk about price doubling but in the previous comment you said "price is a distraction". You confused soul, I hope you didn't lose your life savings to ripple. One last fact to leave you with:  Central bankers from 44 countries are now in El Salvador, and believe me, they are not there talking about your favorite centralized company altcoin.
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  23.  @MrKennyBones  nah, cardano is a dud, and you're just a person who falls for the buzzword marketing. The objective reality is that cardano keeps falling in price against king Bitcoin. Another objective fact is that there is no shortage when it comes to proof of stake altcoins. Again, cardano is absolutely not special at all.
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  24.  @MrKennyBones  the other altcoins also have senior software engineers, I'm sure they have fancy buzzwords to say about their projects too. At the end of the day, there is no limit to replicating any altcoin functionality, therefore, there is no true scarcity in altcoins. There is only Bitcoin when it comes to scarcity because there is only one possible winner when it comes to proof of work.
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  25. No, those are all altcoins, not Bitcoin.
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  26.  @JJs_playground  Bitcoin still remains immutable, reliable, and with the fixed supply cap - the fork coin is what's new. So I agree in the categorization of asking what do altcoins provide, which I believe saif succinctly describes.
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  27. Just means that you haven't studied it enough yet
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  28. Lol! Mmt is a joke!
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  29. Austrian economics
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  30. Proof of Stake has severe trade-offs that make it not suitable for a base layer money protocol for the internet. The more energy Bitcoin uses proves its case.
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  31. They have the traditional banks that do that already.
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  32. Nice, let's make a monero sidechain that has btc instead of xmr.
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  33. Nah, it's another random altcoin with buzzwords.
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  34.  @glenallan6279  correct. Just a money grab, wanting to benefit from being able to print his own money.
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  35.  @glenallan6279  just give a timeline you expect to see it "at the top with Bitcoin" and time will determine who's correct.
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  36.  @pb25193  I see how you are thinking about it, but my supposition is that bitcoin can serve as a global unit of account once it is adopted on a mass scale for medium of exchange and store of value - but we are still in the speculation phase for another decade or so.
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  37. Lol, you are right that it is a free market, but that doesn't mean most ideas are good to invest in. Terra Luna is a prime example of why DeFi is terrible.
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  38.  @4DTravelr  yea, and I think we'll see that continue to play out with altcoins, leading people to accept Bitcoin as the king digital asset.
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  39.  @4DTravelr  what you're describing is no different than people trying to game the stock market to get rich. the more people that try to gamble in that manner, the less productive society is. People should aim to lower their time preference and think more long term, which is more in line with focusing on having a real career, and saving in Bitcoin.
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  40. Satoshi Nakamoto will be.
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  41. Your comment might have a little merit if we didn't see every other eth fan parroting the phrase "ultrasound money", a term coined by vitalik himself.
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  42. Monero is a fraction of the size of dogecoin, so don't delude yourself.
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  43. That alone won't increase the coin supply, you would also need all the users of the network to agree to run the new software. But that won't happen because users don't want to dilute their holdings.
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  44.  @PureWaterSolutions  yes, but the gatekeepers are the users because they ultimately decide which code is run. Not the developers.
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  45. You grow up when you realize second layer protocols scale bitcoin.
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  46.  @MN-wg8qd  because the issues with those altcoins are actually 100 times worse.
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  47.  @MN-wg8qd  centralization risks which amount to trusting central entities. Each has a company central to code maintenance and upgrades. Unfair initial coin distributions. Ripple holds over half the total supply and they get to centrally approve validator nodes to the UNL, thus forever controlling the network topology. Proof of Stake leads to oligarchy control as those richest with most coins have the most voting power over the protocol and their share can never be diluted. There is also the inherent risk of long-range attacks with proof of stake, meaning centrally approved check points need to be made periodically. Just trying to keep it concise but I could elaborate further an any of those if you need.
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  48.  @MN-wg8qd  I didn't say XRP is proof of stake. It was a separate sentence.
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  49.  @MN-wg8qd  there has to be wide adoption of a centrally curated UNL, otherwise the network will not remain in consensus. This means there always has to be a single widely used UNL the majority of the nodes follow. Only slight variations to the UNL can be tolerated. As for Chinese miners, China shutdown them down last year, but the Bitcoin network continued to operate flawlessly. And we already saw in the 2017 Blocksize war that miners have no power over the protocol.
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  50.  @MN-wg8qd  on the surface it appears to be opt in, but it really isn't. Take a step back, what does xrp rely on if not proof of work or stake? The answer is it doesn't have proof of anything, each node has to trust other nodes. And since that is an onerous task, it has to get outsourced to a central coordinator. Imagine a network with two primary UNLs that have lists of completely different nodes, each UNL has roughly half of the network following it. How would conflicting network splits resolve other than having to rely on a trusted entity to sort out which is the "correct" network? There always is a trusted entity needed, meaning it isn't decentralized or trustless to opt in.
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