Comments by "SAL" (@SAL-fs1mr) on "VICE News" channel.

  1. Actually, 100k isn't that far-fetched, because at that price, bitcoin would still only be a fraction of the gold market.
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  2. nah, the Chinese don't have any power over bitcoin. Heck, they just got done closing their bitcoin exchanges, but price is still soaring high.
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  3. XRP: A deluded dream where you wish bankers to remain in control of your money.
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  4. The blockchain is a database technology. Think of it as a digital ledger of all transactions, but instead of one entity like a bank having control of it, it is managed by everyone on the network.
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  5. Not likely, because crypto systems can upgrade to a quantum resistant algorithm.
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  6.  @eliozaeta777  indeed. For example, the bitcoin blockchain has already undergone a few upgrades in the last decade.
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  7. Nah, won't happen, XRP (guided by the ripple company) is going to grow slowly since their game plan is to wait on banks and regulations. Bitcoin is thriving and is over ten times bigger than xrp.
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  8.  @gc1282  if you looked at how xrp is created and distributed, then you would realize that xrp is much more like a pyramid scheme - there is no cost to xrp creation. Bitcoin at least ensures a fair distribution via mining. Don't be delusional, if bitcoin was useless, it wouldn't be over ten times bigger than xrp. With the bitcoin lightning network, it is now possible to do transactions faster and cheaper than xrp. Smart money is definitely in Bitcoin. Xrp is just another altcoin.
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  9. Actually, since the goal is to have a global alternative to the corrupt central banking system, this is probably one of the most important uses of electricity.
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  10.  @Avalanche2  I've done my own research on cryptocurrencies and blockchains for over 5 years. So I guess I will need to spoon feed you some basic info: BITCOIN HAS NEVER BEEN 51% ATTACKED. It is likely that you are confusing bitcoin with certain small altcoins that have been 51% attacked.
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  11. Not really. Bitcoin has tremendous staying power as a censorship resistant store of value.
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  12. Bitcoin is available for use worldwide, transactions cannot be censored.
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  13. It will be useless.
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  14. The bitcoin mining difficulty adjustment algorithm solves this issue.
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  15. Go learn about lightning network - instant bitcoin transactions with negligible fees are now happening.
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  16. Most likely.
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  17. key word here is "try"
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  18. I like free airdrops because they can immediately be traded for more bitcoin!
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  19. And with Bitcoin, everyone can bypass corrupt government sanctions.
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  20. People living under corrupt governments use bitcoin to evade the corrupt regulations, sanctions, and hyperinflation.
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  21. Yea, something like that
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  22. This seems related to Q anon. Not for me.
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  23. My friend from work uses bitcoin to send money to his family in Iran because all the conventional methods are prohibited from working for him because of sanctions. We also see huge adoption in Venezuela for similar reasons. Conventional systems will always be horribly inefficient because they always have to worry about KYC/AML regulations.
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  24. That's how all money works - money is valuable because we believe it is. But there is more to bitcoin than just speculation. For example, the citizens of Venezuela are using bitcoin as a way of evading the corrupt banking system of their country.
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  25. Don't confuse 'digital' for 'air'.
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  26. The mining computations are how the network is secured. Traditional fiat currencies are NOT backed by gold. Bitcoin is backed by everyone's belief that it is money - and that is how all money works.
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  27. Only if you are easily fooled.
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  28. Bitcoin bypasses all sanctions and regulations
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  29. True, they won't be able to spend, but since there is way too much profit to be made you can be sure that there will always be someone in the world who is mining.
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  30.  @gc1282  a year later it should be obvious the smart money was all going to bitcoin. xrp is still a joke!
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  31. It has been over 10 years, and the Bitcoin blockchain has never been successfully hacked.
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  32. Just because it is digital? In that case, your comment is fake!
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  33. Xrp is inferior because instead of POW xrp has to rely on Ripple choosing all the validator nodes.
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  34. i tried to warn you. bitcoin is the standard. Proof of work actually works.
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  35. Nah. Bitcoin all the way. Xrp is not that interesting because Ripple controls the consensus.
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  36.  @jordanvill7361  misleading, because ripple choses who gets to run validators. xrp is not exciting at all, it just keeps falling in the altcoin rankings.
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  37.  @jordanvill7361  if your validator is not on the unique node list (UNL) curated by Ripple, it isn't acknowledged as a validator by the network. Ripple's xrp is had more time than most altcoins to make value, but it is clear other altcoins are delivering when xrp isn't. I doubt xrp will be in the top 10 a year from now.
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  38.  @jordanvill7361  yea, but if the majority of the network isn't converging on a central UNL (such as Ripple's) then the network will easily split without an official network as different people will follow different sets of UNL validators.
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  39.  @jordanvill7361  only in theory or under very specific circumstances can it work, I suspect. Which is why ripple hasn't stop maintaining the main UNL. until ripple actually stops curating their unl that the vast majority of the network defaults to, I will have to remain extremely skeptical (and continue to warn others).
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  40.  @jordanvill7361  if the math theory equals practice (it doesn't btw, never does) then Ripple should stop maintaining the default UNL of the network. Only if and when that happens can a reasonable person be convinced.
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  41.  @jordanvill7361  do the thought experiment. If there is a set of validator nodes A that follows UNL A and a set of validator nodes 1 that follows UNL 1, and this is no or almost no overlap between the UNLs, it's obvious that you'll have two different networks. So for the math to work, you have to make certain assumptions, such as both UNLs having more than 50% overlap, but how can you guarantee that without a central authority?
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  42.  @jordanvill7361  I read it, and it seems to very closely match what I described. The only difference is that they claim 20% overlap is what's needed to prevent splits instead of my assumed 50% ("If the connectivity of the two cliques surpasses 0.2 ⇤ ntotal, then a fork is no longer possible") but again, but it fails to go into how to guarantee that overlap happening without a central authority! Can you show where it does???
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  43. POW is better. DPOS just leads to a consensus system completely controlled by the rich.
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  44.  @joencrypto8133  that mining energy is used to create a system of unforgeable costiless, which is the basis for a sound money system. Whereas in DPOS you have to blindly follow those with the most money - they can choose to never relinquish their power over the DPOS consensus. Miners have to continually compete and are very easily replaced if they don't continuously compete. Another key distinguishing feature is that miners have to follow the rules of the network nodes (decentralized), whereas the nodes in DPOS have to follow those with the most stake (centralized).
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  45. There are tens of thousands of servers all over the world, so if one crashes, it doesn't matter.
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  46. Get yourself a solar panel
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  47. Energy to money.
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  48. Bitcoin is useful precisely because it doesn't need governments to secure it and enables people to evade and corrupt regulations and sanctions.
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  49. There use to be a time when people thought it was the government's job to regulate religion. Society flourished when people has a free market of religious ideas. The next step in our societal evolution will occur when more people wake up to realize it is beneficial to have a free market for money independent of central banks and government.
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  50. Civilization crumbles.
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