Steve Eisman who became famous after Big Short comments that Bitcoin has no purpose, Bitcoin Cash has upgraded, Coinbase offers tools for institutional investors.
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Ivan on Tech is all about cryptocurrencies and the technology behind Bitcoin, Ethereum, Litecoin, Ripple, IOTA. We also cover Bitcoin price, altcoin price, investing, analytics, different altcoins.
Ivan on Tech by Ivan Liljeqvist
people complain about btc fees. I think those people have never actually used it. When I recently transferred $500 worth of btc from my exchange to my cold wallet the network fee was 6 cents worth of bitcoin. If this is too much for you I don't want to hear about it :-)
Ivan, what is your opinion on running a full node vs light wallet? We see the BTC fans supporting running a full node but at this point, it means you are not able to have sign the transaction with a hardware wallet / secure wallet. To me, that seems more dangerous (exposing keys to air, as an unexperienced user) than using a light wallet. I hope to hear back.
Ivan, in addition, what is your opinion on these up-codes? I have been doing more research on the block size debate and it seems that BCH could have success over the mid term, and long term could always adopt second layer solutions if need be. Hard to see through the muck on both sides. cheers
As the 3D artist I have a couple questions:
Could you tell me, can I add images(pictures) in blockchain to make it unique for copyright purpose? If yes, do I need convert images(pictures)to some special format to integrate it to blockchain? What about video and animation fragments, for example, is it possible to store it in blockchain as well or size of a block doesn't allow to do that at the moment? So, basically what I'm interested right now, how to store value and make the digital art (3D object or painting) unique using blockchain technology and what platform(Bitcoin, Ethereum, etc.) more fit of this purpose?
It would be great if you help me clarify this particular area of blockchain tech or just point to the direction where I can learn about it.
If bitcoin was around 10 years ago I’d probably still be living in the country I was born in, my mother had a saving account with 3 million dollars (1.75 = 1US dollar) the dollar devalued due to inflation and it was $200 = 1 US dollar and all she had left was now equivalent to $15 000
First of all I would like to thank you for making this blockchain videos, I've really learned a lot from you and am currently considering enrolling in your course.
With that being said, I would like to know your opinion about NEM and EOS and what they really are. I've been reading for sometime about blockchain and today is the first time I hear about them while watching one of your videos ("Worth Learning Blockchain Coding? Programmer explains?").
Hope you get this messsage; Keep up the good work!!
I read an article claiming that Bitmain secretely mined Monere maybe one year before selling the ASIC chips. They could have over 51% hashrate. Bitmain probably does it also with other coins. Maybe also with "ASIC resistend" one. What to you think about this kind of mining centralization?
Bitcoin is the original bitcoin. BCH is a fork of bitcoin just like so many others. The only thing that has given it infamy is that it has audaciously tried to steal the bitcoin name. Shame on them (they know who they are).
As far as the BCH fork, well all power to them. This is what libertarians believe, that as long as they do no concious damage to others, everyone should have the right to do whatever they like. The market will eventually decide what the future of bitcoin and bcash is.
I feel that most camps of loyalty simply depend on the rate of price appreciation, and nothing really about the underlying tech beyond what influence it has on the price.
Our grandchildren will hound us to tell them about what it was like when cryptos started. They will not understand a world that did not have them. Just like the internet.
IVAN: You touched my nerve here. Big time. VERY short story. I am Swedish.
My Swedish ex-wife divorced me (don't blame her even if it was a tough time). She got crazy/greedy which resulted in a 2y lawyer and waste-time (they have a few miles to walk when it comes to divorces down here (AU) where I currently live. The biggest bank in the country BLOCKED my private cash account with my private taxed AUDs funds for 10 months. Family Court -> Bank. I can't in words express how committed I am to a CHANGE to a better financial world. To a FAIR financial world.
This is a TRUE story that I can back up with FACTS. So, we don't have to live in Zimbabwe to feel the immediate need for change. With Respect and Appreciation for the word you spread in such a great way. Thank you Ivan & Co. -Joakim
Ivan if we know these people have no clue what they are talking about with cryptocurrencies, why do we keep talking about them? Why can't we just ignore them? Past success is not an indication of future returns.
Thx for covering the news about the update with BCH. And as far as people saying (bcash) it childish and makes us all look bad to the rest of the world. And the guy from the the big Short will be in crypto a year from now.
Let's not forget that Mr. Eisman in the movie The Big Short did not see the crash coming. Others had to open his eyes on the upcoming event. It all came from Dr. Michael Burry -- the true genius. Based on all that, I believe Mr. Eisman's words on BTC are highly irrelevant and they have no satoshi value.
Awwwh... The Big Short guy doesn’t understand BitCoin... So short it... BIG Man! See where U end up in history. BTC / Crypto has value and purpose in that it can change the world for the better in almost every aspect of human existence.
Re: Mr Eisman and others, I think we might do better to use an analogy. Think of the progress we made in copying technology, from ditto machines (I was born in 1952), to wet process Verifax, to rolls of treated paper, to plain paper, to plain paper with a straight path and, currently, to PDF. The combined money and banking systems work well as intended, like the finest wooden chariots pulled by the best-bred horses. There's really no NEED to change, except for the push of the zeitgeist, which governs EVERYTHING in the life of our species.
So, IMHO, this is the way it's going, whether individuals like it or not. Personally, I like the reduction of "moving parts" in the money/banking system. I like the potential for all countries to use crypto -- BTC best for historical reasons -- though each country should probably have its own lightning-style sidechain for national convenience. Having a single basic worldwide currency will reduce the variables in economies, since it's easier to fix a system with fewer moving parts. (Did you ever try to debug a program by changing more than one variable at a time?) It's much easier to understand the relative wages and housing costs in New York, Milan and Nairobi if they're all measured with the same yardstick.
Alas, if you're of the mindset that it "takes a village to raise a child" (H. Clinton's quote), then the absence of privacy typical of villages is part of that deal. We in Cryptostan have a dilemma. Most of us like the tight, transparent mechanical operations found in villages AND we relish the privacy accorded us by modern national states. I love watching the micro-details of this game, but the village vs privacy matter has to be understood (and resolved) at the macro level. This isn't financial advice, but it might be cultural or religious advice.
Oh, and the LikeButton has been dealt with in the customary fashion.
Finally!!! CryptoVikings are here. Highlight of my long day. Thanks (TACK in Swedish) guys and keep up the A M A Z I N G work you do and share. You rock this new market and the future is Yellow and Blue ;-) -Joakim, Swedish Viking downunder
Ivan you asked for it: there is the real Bitcon BTC, then there are altcoins, then there are shitcoins, then there are outright scams like about 70% of all ICOs, then there is currently one only cancercoin named Bcash because it claims to be the real Bitcoin BTC while it is just another forever centralized (because bloated) altcoin promoted by bad actors.
Ivan, you’re not doing it wrong when using the - dictatorship argument. :-)
There’s better and less laughable ideas to use. It’s enough to say that the blockchain enables a new wave of digital and offline business models that will improve the current state of things.
""I need to get my knowldege .. or knawledge?? --- what do you guys think??"" In time you may become more confident Ivan and realize it doesn't really matter whether its knowledge or Knawledge. I suggest since you don't have an north american accent, perhaps just stick to knowledge. ;-) Your videos are great, keep it up young lad.
The miners are interested in finding a nonce which will create a hash with certain characteristics. Lastly, they have to find a random value that they included in the header, which makes the computed hash over that header a value below a particular target. In other words, they do not have to agree to change the protocol. Though there are a few gold diggers attempting to fill their pockets and certain projects that aren`t viable and shouldn`t be encouraged in any way. For users running a complete node, it is a fairly painless procedure to upgrade the software to the newest version. The process of locating a new block to extend the blockchain is known as mining. Proof-of-Work systems utilize cryptographic hashing algorithms to create the action of mining a block a complicated computation. Our software is totally incompatible with altcoins. Changes and modifications to how that it works need to be approved by consensus and every CPU gets a vote. To start with, it`s essential to realize that hardware wallet users control entirely their private keys. Whether you`re bullish or bearish on Bitcoin Gold, you ought not lose your coins as a result of careless mistakes! On the 1 hand, it may result in making a coin that solves all the pending issues. There`s no currency or digital asset named Bitcoin Core. Bitcoin Cash increases the range of transactions that may be processed per block. You could send any quantity of money, any place in the Earth, almost at no cost. You`ve made some great money already on the market, but you want more. For a wealthy individual, BTC`s price premium may be viewed as a plus. For someone without lots of money, BCH`s low price may look like a great deal for Bitcoin. If you have some concerns about the worth of Bitcoin after all forks, you need to be ready for a drop. The distinction is that not all of these suffer the chain split. The primary problem is Bitcoin imposes a hard limit on the magnitude of a block, the location where transaction information becomes stored. The end result is many straightforward wallets, called SPV wallets and very commonly found on your phone, will be quite confused about which chain is Bitcoin. In Bitcoin, the most important reason is known as the network effect.