Comments by "dlukton" (@dlukton) on "Peter McCormack" channel.

  1. I've listened to Luke talk many, many times; but I always get some new insights (or at least clearer insights) each time I listen to him.
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  2. Yes. "Separating money from state". Proof of stake; proof of work; whatever it takes.
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  3. ​@peterpan8374 it seems highly unlikely that the Ledger company would ONLY have the capability to extract the seed from those customers who pay $10/month....but would be completely incapable of extracting the seed from those who refuse to pay $10/month.
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  4. Katie isn't correct about the "exit tax". US citizens who want to renounce do have to pay a tax on their assets; but it's not 40% of the assets; instead, it's a tax on UNREALIZED CAPITAL GAINS; so for most people, the tax will be a lot less than 40% of the assets.
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  5. EVEN ASSUMING that there are hordes of people just "chomping at the bit" to pay an extra $10/month to use their hardware device, how many of them really want to voluntarily hand over KYC information? Seems to me that it would be a small number.
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  6. For those who want more information on the "volcano bonds", this was quite an excellent discussion: https://youtu.be/uCRgE4GY1g0
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  7. Yeah, it's a lot easier to run a scam on "paper gold" than it will be to run a scam on "paper bitcoin".
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  8. The money-printers in Washington DC will never like bitcoin.... nor SHOULD they ever like bitcoin. [The "money-printers" would include those politicians who support the massive entitlement state and/or the large military-industrial complex that we currently have].
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  9. Excellent. 👍
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  10. Yeah, a lot of the people who got worthless college degrees would have been better off becoming plumbers. That being said, being a plumber is hard work, especially for people above the age of 50.
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  11. Yeah, $350K seems a bit high for the average, run of the mill plumber; but certainly for the guys who manage other plumbers, $350 is probably not difficult to make (for those who are effective managers).
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  12. Michael Saylor likes to ramble from one topic to another; but I find a lot of it interesting nonetheless.
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  13. Also, a big issue with cars is that of how many foreign-made cars will be allowed into the US; and that's a purely political decision.
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  14. Yeah, I lived in the Washington DC area for a number of years; and I spent a sh*t ton of money on plumbers for my house.
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  15. If the government hadn't made it mandatory for businesses to accept bitcoin, the process of adoption would have been far, far slower than .... whatever it is going to be now. So one can be idealistic.... and wait a long time for something to happen..... or one can abandon one's libertarian ideals for the sake of making something big happen within a short period of time ("short" being 2-3 years, I would say).
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  16. This is potentially scary. One thing the US government might do at some point is to impose a "FATCA-type" law for crypto... meaning that everyone would have to declare their crypto assets every year... or face severe penalties. If that were then combined with blockchain analysis, it could be a real disaster for holders of bitcoin (and other cryptos). Also, if the blockchain analysis is faulty, people could get accused of crimes they never committed.
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  17. I wouldn't expect this discussion to have universal appeal, even among bitcoin investors. But this Austin guy had quite a few interesting stories to tell.
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  18. Either: (a) the executives who run Ledger caved into demands from politicians to create a backdoor for police agencies & government snoopers, or (b) the executives who run Ledger are even dumber than the people at Anheiser-Busch who approved that idiotic Budweiser commercial.
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  19. Yes; I don't think that it's an IMMEDIATE problem; but certainly, within the next few years, politicians (in several countries) are going to be tempted to conduct surveillance on users of Ledger wallets.... and to freeze crypto assets in some cases.
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  20. More "hear" than "see".
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  21. Supposedly, any lightning wallet can be used for transactions in El Salvador; one needn't use Chivo. As far as I can tell, the only thing that Chivo is good for is converting from bitcoin to dollars.
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  22. Yeah, we can't fully trust Elon Musk; but the amount of censorship that takes place (on Twitter) under Musk is a lot lower than it was under his predecessor.
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  23. I think that if someone else believes she got it wrong, Peter would be willing to give him an opportunity for rebuttal.
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  24. A wealth tax (at the federal level) would be unconstitutional, and wouldn't get through Congress. Furthermore, it would lead to a lot of renunciations of US citizenship; Elizabeth Warren proposed a 40% tax on renunciation of citizenship (40% of assets, that is); such a tax would be brazenly and exceedingly unconstitutional.
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