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What the F*** is Qubic? - Untangling the Main Concepts

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Recently, the IOTA Foundation shed some more light on the Mysterious Qubic project. Unfortunately, a lot of people had a tough time understanding many of the details involved. In this video, I try to help people make sense of many of the details that were shared. DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make. ▲▲▲▲▲ Looking to get started with cryptocurrencies? Check out my crash course here: https://louis-thomas.teachable.com/p/buying-bitcoin-crash-course/?product_id=676341&coupon_code=EARLY-DISCOUNT DONATIONS ♥ ETH: 0xc12f59c4e23dccd369437bbdb09470879d8c0825 ♥ BTC: 1L2LswVmTobmEK8dy6Yw9nWx93Z1zZ1jb3 ♥ LTC: LRXk5EwrR6VJYJcLYZLNY5B1uhoiUchtF5 ♥ GBYTE: 5QRFNHCHE4FN3OR5REYDM7BFJP7EPWIU ♥ Dash: XyAPcaHdZJKuXiruHkAXkKgCMWHfaPFVgc ♥ ETC: 0x3bec3f9e112e719330d1732d60b02724b1b5a76c ♥ ZEC: t1gGY496794uEC4dTPiXitU8nYgXGLm78HH ♥ DGE: DFoVXJTiGKXTPUeztrpmYEWaHtXrBK452y ESSENTIAL CRYPTO RESOURCES ♦ Recommended place to buy Bitcoin/Ethereum: COINBASE - Sign up here: https://www.coinbase.com/join/5897724... ♦ Recommended Wallet: LEDGER NANO S - Available here: https://www.ledgerwallet.com/r/3c47 ♦ Recommended Exchange: (TBA) SOCIAL MEDIA LINKS ● Facebook: https://www.facebook.com/LouisThomasC... ● Twitter: https://twitter.com/LouisThomasYT ● Instagram: https://www.instagram.com/louisthomas... ● Snapchat: louisxthomas ● Steemit: https://steemit.com/@louisthomas CHANNEL RESOURCES ■ My Book: How to Choose a University Available here: http://tinyurl.com/y87e2ce6 ■ Camera: Nikon D5100 (old but affordable) Available here: http://tinyurl.com/y9cslp2u ■ Microphone: RODE VideoMic GO Available here: http://tinyurl.com/y9rceoer ■ Tripod: Polaroid 184cm Available here: http://tinyurl.com/yarefpr9 Panama Hat No Voice by Audionautix is licensed under a Creative Commons Attribution License (https://creativecommons.org/licenses/...) Artist: http://audionautix.com/
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Text Comments (71)
The Globalist (1 month ago)
Hi Louis, thank you for the nice and clear update. I'm also very exited about cryptocurrencies but don't think we can have money that isn't politicized... unless the coin is the basis for a full democratic society with a proper tax system. A society without tax can't exist, but cryptocurrencies can automate tax (VAT) and Universal Basic Income (UBI) plus a special voting system where you don't vote for politicians, but where a voter votes his part of the tax-money directly to "Projects and Institutes for Commen Benefit', like schools, hospitals, the police etc. (see my website www.ubi-wallet.com). I think Qubic would be perfect to build such a coin. It should however be fully cut loose from all exchanges. What do you think?
Louis Thomas (1 month ago)
Excellent points! Come From Beyond wrote about how Qubic could help improve the tax system. I just looked, but can't find the link to share with you :( It's out there somewhere though
CryptoLover (1 month ago)
David Hay (1 month ago)
CryptoLover thanks a lot
Nico Stadi (3 months ago)
Great job of staying super objective on this. I know you're a long time ETH hodler and fan so seeing you discuss the potentials of smart contracts with Qubic in a way that wasn't subjective is real nice to see. Obviously you hodl IOTA too which makes that easier lol, but still... good job man.
Paul Wheatley (3 months ago)
keep up the good work
Brandon Wilkinson (3 months ago)
Really wish I had another 4k to put into the IOTA project. Dollars are hard to come by nowadays.
gregg carbo (3 months ago)
Thanks Louis, beautiful distillation well done
neotoss (3 months ago)
I believe It will be much much bigger than we can imagine. Im glad IOTA has 50% of my portfolio
neotoss (3 months ago)
same same but different. I'd love to have around 50,000gi
Haruspex (3 months ago)
neotoss I only managed to purchase around 11gi. I’d love to have around 50gi
Lucas Raphael Pianegonda (3 months ago)
🤔 I need to buy more iota
Eddie Luchford (3 months ago)
https://www.binance.com/?ref=10800638 Best site for buying/trading coins is definitely Binance, you don't need to submit documents to trade up to 2BTC so can buy instantly. It is the best exchange in the world and biggest in terms of volume per day so your money is as safe as it can be. If you sign up using that link you can also get 50% off trading fees.
ROCK AUDITIONS (3 months ago)
All we need to get rich fast are 4 or 5 penny sleeper coins WITH FUNCTION : NPX, PHO, XINFIN.ORG, REDD, DIGIBYTE, REQ, and soon RIPPLE.
darius195 (3 months ago)
Hey what's your opinion on Telcoin? I think it solves a "hair on fire problem" (as Cedric would put it)
Christian Kuhl (3 months ago)
Very nice review Louis. I learned a lot from watching this video. IOTA is definitely cutting edge and I hope it will eventually become a massive success in the real world. Time will tell...
asv8104 (3 months ago)
It seems to me IOTA is way ahead of general crypto world
Jacob Broughton (3 months ago)
Hey Loise, very intriguing take on the Qubic project! Think you'd ever be into doing ICO reviews? If so i'd love to hear your opinion on projects like Fr8 Network and Muirfield IP!
Verdelufe (3 months ago)
It means IOTA gave up the idea of being a coin to buy and sell things, will provide other services like compútation for a coin, smart contracts. I don´t think any crypto will be a currency at all, the governments will set their own cryptos with value equivalent to the country in question, and will vary according with the world market currencies.
AndrejCibikDesign (3 months ago)
Im gonna wait in BTC until they actually deliver products.
cogenman (3 months ago)
Selling courses LOL. The crypto you own isn't worth enough?
Green Contact (3 months ago)
Your reflection on how its difficult to grasp the picture is true. I think I have seen the idea pretty goodd and thats why I know they serious. Have you read Isaac Asimov's Foundation series?
Jack Het (3 months ago)
I like u guy. Thumbs up. Great work
Nelson Perez (3 months ago)
Fog, that's an accurate description of what you're buying with iota
Rex Mentula (3 months ago)
Don't worry. He is probably a Bitcoin/Blockchain-maximalist. They're known to be narrow-minded.
david houston (3 months ago)
He’s 50% right. Fog computing.
Jedley (3 months ago)
More like an accurate description of your knowledge and understanding of the current progress and scope of the IOTA ecosystem.
Henrik Wallin (3 months ago)
As I wrote on the Mark Firn comment below: It is important to understand the difference between an IOTA protocol and an API to any blockchain. Bitcoin simply dropped a few features in 2016-2017, and now Bitcoin Cash is re-implementing them one year later. What if your business model or your hardware was dependent on those features? So a protocol can always be used as long as there is anyone to talk to. Even if it's IPv4 that should have been replaced by IPv6 a decade ago, because it will keep on working as long as devices use it. Norway might close down GSM G3 to move to G4 and G5, but they can't close down GPRS because of all the devices that use that. So yes: IOTA is late to the game with smart contracts and a well working Tangle. But it doesn't matter. If it's a standard, people (and AIs...) will develop on it. There will be new and much better implementations of the standard, but if you develop it for the current really crappy Tangle, it will still work on the future Tangle.
DarthShadie (3 months ago)
Ok, I need to digest all this info 😁
Rashad Paige (3 months ago)
I'm with you girl lol
Crypto Lone Wolf (3 months ago)
Haters gonna hate, but IOTA is moving “slowly” forward, but in the right direction!
Milos Prodanovic (3 months ago)
Qubic coin from 2014 Q2C
W7 Davison (3 months ago)
Qubic is no longer a seperate coin, that is dismissed on the website. That is now the job of IOTA, IOTA was actually created as a necessity for Qubic, which was the original idea Sergey Ivancheglo had for IoT. IOTA is the currency layer.
BLooDY Nin9 (3 months ago)
Question, will you be keeping your iota tokens? If this takes off can you comprehend the true value?
Ace Stojevski (3 months ago)
Massive IOTA will be!
Brandon Wilkinson (3 months ago)
Ace Stojevski YES, very massive!
Robert Ledingham (3 months ago)
LT I think you should start a channel based on what to do with crypto profits :)
Robert Ledingham (3 months ago)
I recommend houses
Yakoo86 (3 months ago)
Hey Louis. I also watch Cedric's videos. But I have never heard or read a single word him about IOTA. Do you know his opinion about IOTA?
Ryan Almond (3 months ago)
Louis Thomas thanks for the info. I get the 'hair on fire' analogy but then alluding to your point in the video, you wouldn't have looked at the internet as a 'hair on fire' innovation in the late 80's or early 90's and yet now the use cases have literally changed the world and will continue to do so in ways we can only imagine now.
Yakoo86 (3 months ago)
Thank you very much for your information. Especially now with the release of Qubic, he should take another look at it.
Louis Thomas (3 months ago)
But that was in January. He might have a different opinion now.
Louis Thomas (3 months ago)
I think he's still formulating his own opinion about it. We spoke about it briefly when I met with him, but he couldn't see what "hair on fire" problem that IOTA was offering to solve, as that's one of the key things that he looks for in a project.
Andres Bidegain (3 months ago)
Seems huge
Sherwin Colina (3 months ago)
More <3
Luke Harwood (3 months ago)
Fantastic video Louis. Think you did a awesome job of simplifying what Q actually is, considering it contains quite a few complicated parts. Nice one!
Louis Thomas (3 months ago)
Cheers Luke :)
Valle (3 months ago)
Perhaps this is an example of how revolutionary cubic is: https://medium.com/@micro_hash/how-iotas-qubit-might-be-on-the-verge-of-revolutionizing-finance-6f1776ae82b0
Sz27 Clz75m (3 months ago)
anyone understand all that?
Henrik Wallin (3 months ago)
cfb does, but unfortunately he can't explain it in the light because the light turns him into stone...
Ale Buser (3 months ago)
Amazing explanation, you did a great service to the IOTA community there!
Louis Thomas (3 months ago)
Thank you so much Ale. I gave it my best shot :)
UnknownMonkey PlayGround (3 months ago)
Thx for explaining Louis! Check also the Trinity wallet beta version, it's awesome! Working like a charm :)))
Mark Firn (3 months ago)
And with all these amazing things supposedly coming....still no working wallet. I,lol believe in this project once they actually turn some of there words into actual working systems....
agenttank (3 months ago)
The Sapien do you understand, that we dont know a single crypto that works as promised? especially when mass-adopted? every project is in the beginning or at least not finished yet.
Jay Sha (3 months ago)
W7 Davison (3 months ago)
Mark.... Trinnity wallet. Quite possibly the best wallet in the Cryptocurrency space? released about 2 weeks ago, how can you say no working wallet anymore, Trinnity is amazing!!!
Crypto Lone Wolf (3 months ago)
Where do you live men, if you have a question, just google it...
Henrik Wallin (3 months ago)
Mark Firn has a really valid point, but what the IOTA Foundation is trying to do is to create standards that others can both implement and build on. This is a well established and really successful way of doing things in the tech industry. The big difference here is that IF wants the IOTA token to be a part of the standards they are creating. So what IF is trying to do is to first create a standard like IPv4 ("The Tangle"), then on top of that TCP/IP (Like MAM) and build more protocols on top of those like Q. The thing is that the miners, the community nor anyone else can change a protocol/standard. People can only choose to use it or not (and maybe misuse it). A general blockchain system can decide to do stuff in another way which is great in some cases, but totally not acceptable if you have built a factory for a hardware that now stops working, or if it's hard to update your software. No other crypto project is trying to do this. I love the EOS project, but they are all about how to govern and they have a constitution that has written in it how to change the constitution. IOTA is about creating standards. You are free to use them, but no one can change them when adapted. So you can't "vote out" your competition with a sudden update in the protocol. Everyone knows that if you do an ASIC for Monero, it will stop working soon, and if you do software for MacOS, you will have to upgrade it to make it work in the next version. Cardano is taking the opposite approach from EOS with "code is law", but it is still not the same as an industry standard. Everywhere IOTA manage to get a well defined well working standard, other more flexible DLTs have to adapt it.
Rob Heesen (3 months ago)
ㄴㅂㄴㄴㅇ (3 months ago)
Paul John (3 months ago)
dazhibernian (3 months ago)
Isn't that what Golem/SONM does?
Multi Folio (3 months ago)
you mean Golem's off chain kind of way? Nope.

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