Placeholder Image

Subtitles section Play video

  • you know, you were going to run out of ethereum co founder is pretty soon, but we've got Hodgkinson with Cardona, right?

  • We've got Gavin Woods of polka dot, they're doing their parent chain auctions this last week.

  • So it's becoming more live.

  • Um, I recently had, you know, Sylvia McCallie of Al Gore and I was another consensus protocol and I had Mm Good and Sierra Vivax who has his own consensus protocol.

  • All of them are getting traction in the market.

  • All of them are top 20 market caps.

  • They've got real customers, they've got protocols.

  • Uh, and, and then some, but, but again, I do feel like we're going to be in the layer one wars in the next year.

  • And I also feel like there's not that many people left, you know, they have a history of understanding a lot of these complex pieces that could even credibly talk about a reasonable new consensus algo or proof of stake.

  • What are the ones are on your radar at least for price action for your readers.

  • I mean the main ones that I've been covering besides Bitcoin would be ethereum in Solana.

  • Um, and there's a small number of other ones that I touch on.

  • But those are the, those are the two that I've been focusing on in terms of price action because my, my services is recover equities.

  • We covered commodities were not a crypto service.

  • Um, and so I'm not saying they're saying, okay, this, this 25th biggest crypto is attractive and if anything, because I'm more in that Bitcoin side, I'm basically looking at and saying a lot of these projects, not every project, but a lot of the projects, they're not being transparent with the trade offs.

  • I think some of their founders not even fully aware of the tradeoffs that they're making, like they might get in the technical sense, but they might not fully understand what made Bitcoin successful And we generally see a pattern where Bitcoin has these bull runs every four years.

  • So we're, you know, roughly four year cycles.

  • The first one is kind of off.

  • So you have 2,011 doesn't 13, then you have 2017, Right?

  • So these kind of four year cycles, the first the first one is a little bit compressed because it was different.

  • But overall every every time Bitcoin has when his big bull runs, everybody gets into space, they want to make their own coin, they want to try something different.

  • And and again, there are some of them that are essentially professors that are that are basically tokenize in their research.

  • So they're they're contributing to the field in a way that that some would consider, you know, it's challenging because essentially issuing security.

  • Right, so a lot of these meat, they pass the Howey test and so they meet the definition of a security which which has its own challenges and then it comes down to how transparent they are.

  • And generally if you look at kind of the theory of money or historically how money works, it tend towards network effects.

  • So so strong money over time pushes away money that is less decentralized, less credible supply, more prone to change is more prone to centralization.

  • Um and so that's why a lot of Bitcoin maxis focus on Bitcoin and exclude the others because there is a very high percentage of scams, frauds over promises, um insufficient trade offs happening in this space.

  • Now I I go a step lesson than saying, you know, some Bitcoins, Bitcoins to everything else is a scam.

  • Whereas my approach is simply say Bitcoin is different than anything else.

  • So those other thing else is just a different category, which I think is overall highly speculative And that there's a large percentage of them that are not being fully transparent or people don't even aren't fully aware of the tradeoffs that they're making.

  • Like when I talk about salon a for example, there's a lot of people that are like, what do you mean?

  • It's manual slashing.

  • Right?

  • So, so they don't fully get the technical details of what they're investing in, which could be fine if they have, you know, 1% of portfolio in it.

  • Right?

  • But if they're like aggressively in a protocol and they don't understand some of the technical details of why it's different than Bitcoin, That's a challenge.

  • And then the same thing happened when they had all these meme tokens, the, you know the dog tokens like the dodge coin, uh Sheba all these other ones, relatively few of those buyers, especially in Robin Hood where they're just buying, they're not self costing anything, they're not using them.

  • There's there purely speculating on a screen.

  • They don't necessarily see the technical trade offs.

  • And all these different tokens make the different network affects how the nodes actually function to maintain the network.

  • Um And so I think that's during bull markets.

  • Unfortunately, out of retail investors pile into things that they don't fully understand and then it all comes crashing down when there's an inevitable bear market.

  • And so far we've seen Bitcoins, the one that survives through those cycles, ethereum has gotten through two cycles.

  • And very few other tokens.

  • There's a huge track record of not getting through to a second cycle uh meaning that you you have higher highs in the prior cycle.

you know, you were going to run out of ethereum co founder is pretty soon, but we've got Hodgkinson with Cardona, right?

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 trade offs fully offs technical bitcoins consensus

"Bitcoin is different from EVERYTHING else." ? - Lyn Alden

  • 0 0
    林宜悉 posted on 2021/12/05
Video vocabulary