Comments by "SAL" (@SAL-fs1mr) on "Peter McCormack" channel.

  1. Even if bitcoin are leaving the exchanges, the total value of the remaining coins on exchanges goes up, dampening volatility.
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  2. Title should've been: Raven eating crow 😅
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  3. They spun out the Bitcoin holding part of the business and called it that
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  4. Wrong.
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  5. Defi is just the new buzzword. It was "ICO" before.
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  6.  @donaldoarmand212 yup, I've heard it all. Again, it's just the new buzzword. There were tons of bitcoins involved into ICOs too, in case you don't remember.
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  7. You don't need to be involved in mining to exchange bitcoin and you don't need a bank either. There are peer to peer exchanges like BiSQ and Localbitcoins.
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  8. That's why we need one more softfork: covenants
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  9. Nah, we just need BTC and Lightning network. No need for a new coin.
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  10. Nah, the top 50 altcoins will be almost completely different every few years, so no, they aren't good hedges against inflation.
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  11. If you're wealthy, you get access to abundant cheap credit and if you're poor, you don't. The theft is real, it's a true story.
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  12. PoS, you pay once, win forever (favors centralization). In proof of work, new players always have a fair chance of displacing the old players (favors decentralization).
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  13. You can run a light client and retain full control of your coins.
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  14. It seems you are unaware of previous episodes that had vitalik.
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  15. He's a billionaire and you're not 🙃
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  16. Nah. Altcoins are easy to replicate. The answer is only Bitcoin.
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  17. At the end of the day, there is no scarcity of POS smart contract platforms, each with a premined token.
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  18. No.
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  19. We have to stay vigilant against all the various attacks against bitcoin, we can't take things for granite.
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  20. No need, bitcoin has orders of magnitude more POW energy behind it compared to those altcoins. Why should anyone put money in one of those systems that has 100 times less POW security behind it?
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  21. Thank goodness Bitcoin doesn't have the huge centralizing vulnerability known as POS.
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  22. Bitcoin has a built-in mining difficulty adjustment algorithm, so if there is less energy and mining power, then it will self adjust automatically.
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  23. Bitcoin always was halal
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  24. Doesn't matter bro. No one is going to put their wealth in a system where 100% of the supply was premined by a single company.
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  25. Stacking opportunities are a blessing.
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  26. That was a bug, not a change in monetary policy.
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  27. Yes, but we need more
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  28. You do realize that the actual units on the bitcoin blockchain are satoshi's, right? 1.85 quadrillion satoshi supply is more than enough for global trade.
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  29.  @TheBanterCity  these days I've been paying about $1.00 worth of bitcoin for on-chain transactions, about $0.005 worth of bitcoin for lightning network transaction fees.
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  30. Nope. There is no second best.
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  31. Keep your long term funds in cold storage, like a hardware wallet. Easy payment wallets, whether lightning or not, have a risk of being hacked due to your online device being hacked.
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  32. Bitcoin will save our future.
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  33. Nah. Monero sacrifices simple auditability of the coin supply.
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  34. He started up several successful companies. So I know he's definitely smarter than me.
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  35. You are terrible at math
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  36. No, it is designed to "look perfect", but it isn't.
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  37. I like phoenix wallet.
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  38. "he has some normal beliefs" 🤣
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  39. Over the years, Bitcoin has made optimizations for being money over currency.
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  40. I think he meant it being difficult knowing if you are getting your gold from a reputable dealer or not. how do I know the specific gold coins I buy are pure gold?
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  41.  @usercos187  in bitcoin, the price is increasing due to increased demand. Poor people will just used smaller fractions, such as satoshi's, so if doesn't matter if Bitcoin's price is high. It is possible to achieve negligible fees on 2nd layer protocols such as lightning network and sidechains.
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  42.  @usercos187  you are too focused on on-chain fees. Let me just copy and paste from my previous comment for you: "It is possible to achieve negligible fees on 2nd layer protocols such as lightning network and sidechains." For example, I'm using the bitcoin lightning network for transactions, I pay about 5 sats as a fee, so when bitcoin reaches $44,000, that is still a fee of less than half a cent. So it seems pretty clear that cheap fee transactions are achievable without bch, and it seems the market has realized that, which is why bch keeps losing when priced in btc.
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  43. you skipped doing fractions of a cent. So after 1 sat is 1 cent, it might then be 1.000001 cent shortly after.
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  44.  @voluntarism335  look up Sybil attack, which spv would be susceptible to.
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  45. Silvio Micali is a lying grifter, trying to push his altcoin scam.
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  46. $50 mil*
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  47.  @ctcsys  but you're the one with the empty dispute! Which block number do you think the double spend happened? There are no conflicting transactions in the Bitcoin blockchain (the longest proof of work blockchain).
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  48. Nah, it isn't theft when you voluntarily opt into the 21 million limit. Nano is such a small insignificant project, and it lacks the security of proof of work.
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  49.  @smartmoney607  he's a nano scammer.
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  50. Many will give up properties they aren't living in to buy more Bitcoin, yes.
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