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    Do we need Alts? Making the case for Bitcoin Maximalism!



    #Bitcoin #Altcoins #BitcoinMaxis #DoWeNeedAlts #IGotChallenged #AltsVsBitcoin
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    00:00 Introduction
    01:19 How To Challenge IA
    01:32 Patreon Member “Airstyle” Challenges IA
    02:00 Airstyle says…Decentralization
    03:20 Nakamoto Coefficient Top Layer 1’s
    04:03 Bitcoin Energy per Tx vs VISA 2022
    04:29 2188 KwH in Perspective
    05:00 Summary
    05:27 Airstyle says…Everyone Can Participate Within The Network
    06:00 Why Bitcoin Can’t be Banned?
    06:14 Cost to Run a Bitcoin Node
    07:15 Airstyle says…Quick, Cheap & Low Energy
    07:32 Strike & Lightning are Game Changers
    08:26 Lightning Network App Users
    08:56 Enter ETH – Vitalik claims Competitive w Visa
    09:31 SOL $500 Transfer Cost $0.000006
    10:23 Airstyle says…BTC As World Reserve Currency
    10:50 Yes – Bitcoin is Better Money
    11:29 Bitcoin is Better Than Gold & FIAT
    12:14 Airstyle says…BTC Has a Strong Narrative: “Digital Gold”
    12:50 Commodity Branding is the Ace in the Hole!
    13:46 120 Yrs Global Reserve Currency Development
    14:44 Airstyle says…Adoption & Worldwide Interest
    15:26 BIS’ Basel Committee
    16:21 $ Printing & Inflation is a Powerful Govt Tool
    17:00 Oh – and Transfers are how Officials Get Elected
    17:54 Airstyle says…Regulation
    18:53 Bitcoin = Morality!
    19:19 Surveilled Permissioned Ledgers
    19:56 Govt Can Reach All
    20:28 Airstyle says…BTC Survives & Thrives
    21:00 Great – 18,000 to Go!
    21:44 Airstyle says…BTC Only-Wallet
    22:01 SeedSigner
    22:31 Airstyle says…Fixed Supply & Deflation
    22:53 According to Cane Island Digital Research (CIDR) 4% of circulating bitcoins are lost every year!
    23:01 BTC Year 2048 w 1% Drain
    23:40 Airstyle says…Distribution of Coins
    24:34 Bitcoin Held by Retail ATH at 17%
    24:47 Aggregate Cohorts
    25:36 Airstyle says…Alts & Fiat Incentive
    26:11 Smart Contract Platform Inflation
    27:05 Airstyle says…DAPPs and NFTs
    27:48 NFT & Blockchain dApp Risk
    28:47 Airstyle says…BTC Risks
    29:25 Miner Risk
    30:00 Re MSTR & Satoshi Risk
    30:34 Airstyle says…Alt Gains
    30:47 It all goes back to Metcalfe’s Law
    32:07 Conclusion
    32:09 Summary of all Points

    View 44 Comments

    44 Comments

    3. Andy Smith on

      The per tx energy consumption is nonsense. It takes the same energy to produce a block irrespective of how many transactions are in it. So the additional marginal cost of one transaction is zero.

    11. Guy Man on

      I was wondering is your statement of Electricity usage for a BTC transaction per transaction, or per block with 1000's of transactions inside?

    12. CryptoWulf on

      Great content but we should look at 100.000 lightning transactions vs Visa because else its like comparing apples with oranges.
      Bitcoin is a settlement layer and Lightning the transaction layer and that's why you can't compare the BTC main layer with Visa.

    17. Guy Man on

      I run a bitcoin node on a 10 watt ( MAX) raspberry pi 4. I already have internet. So not counting Internet it costs less than $20 USD additional a year to run a node. Not $500. 15 watts( MAX) *24 hour*365 days/1000 watts per kwh * 0.15 cents per kWh = $19.71. Unless my math is messed up. Your the numbers pro James 🙂 ( edited for clarity)

    20. ken k on

      $550 per year for a BTC node? What? Used $200 office PC from 8 years ago plus around 5 dollars in electricity per month (double if you're in the EU). those prices are extremely far off from 550/yr. This is what i've been doing for over 6 years.

    22. Stephen Randall on

      Agree James. I cannot imagine anyone buying any alt coin at the moment….. utter nonsense. Widely discredited, none of it has been proven, widespread comments that most will be worthless. For me, it’s too early by maybe 12 months, even for Ethereum.
      How much do you wanna lose?

    23. JDUBTHELAKER24 on

      Great Vid James ! I am a maxi now but u Originally Orange Pilled me with the Mathmatics of Bitcoin! Thanks ! Although i did sell my alts its not nec because i dont think theyll not be useful but i dont agree with the mutability and the tokenomics. Thats whats important to me. Also with Bitcoin i know money is safe as it can possibly. That said i still appreciate both points of view. We dont have to agree we just have to keep learning ! 🙏🏾💪🏾🤝🏽 BTC👑⚡

    25. Liberty Larry on

      I am wondering how you get to $550 a year to run a full node? A raspberry pi setup would be a one time cost of around $300 and yearly energy cost of maybe $100 (aiming high to steelman your point). So if we run the node for 10 Years we have an average cost of $130.

    26. Brick Lawson on

      Regarding ETH: there was a huge pre-mine with ethereum and their move to POS now gives even more control to the whales who benefited from the pre mine.

      It's a system controlled by Vitalik & Joe Lubin.

      Under POS you have validators not minors.

      To be a validator you need 32 ETH.

      So it's a system controlled by the people with the most money, not my idea of decentralized.

      And of course transactions can be reversed and have been reversed in the past on ethereum… if transactions can be reversed it's not decentralized it's that simple.

    30. Jarvis Hector on

      Quantum Computers are a SCAM and a massive financial/investment bubble. Again, study the physics …. the quantum computer can never be a reality … first of all it is a computer who must run at less than 1Kelvin which is -272°C … otherwise noise kills the computation and a small number of qubits can be integrated … beside that, nothing of value can be computed with a Quantum Computer, there is not a single case where a QC has been used for solving any meaningful problem … and even more, what most people don't know is that Quantum Computers are a stupid attempt to violate the second principle of thermodynamics…. Yet people keep pushing the narrative of QC as a threat to cryptographic security … Unfortunately this is due to ignorance in the fields of Quantum Mechanics and Cryptography.

    31. Will Bryant on

      James, great video as always. I'm a fan of both BTC and altcoins. Just want to point out that it costs substantially less than your estimate of $550 to run a Bitcoin node. I have one running 24/7/365 on a Raspberry Pi for free with pretty minimal power consumption. Would estimate that number to be closer to sub-$50 annually, based on my own experience.

    32. shawn on

      Imo around 95% of people only need bitcoin.

      Gamefi could reduce that number unless gamefi begins to be built on btc layer 2s.

      Energy cunsumption serves purposes off chain adding more layers of value and forging unique allegiances with other industries.

    33. Jarvis Hector on

      The energy narrative is wrong and EVIL. Stop spreading this wrong message. Civilization must consume energy otherwise we are doomed. Energy consumption is what makes BTC unique and it is the ultimate protection. Energy is the key. PoW is the biggest idea that for the first time in history forces everyone even the big players do the work to earn it. BTC security is in the energy consumption. and stop with this madness because BTC is consuming less than 0.2% of the total energy of the civilization. We should improve the remaining 99.8% … It simply doesnt make any sense man, you should be honest with your followers and explain to people why PoW is such a powerful idea.

    34. Jarvis Hector on

      PoW is exposing the true corrupt people who are trying to attack this powerful engineering idea because its makes impossible for the corrupted to manipulate a PoW based monetary system. Stop pushing the wrong message and be honest. Explain to people why it is so critical and why it is the only way to mantain the integrity of the monetary system over time

    36. __Grist for the Lel__ on

      28:47

      Wrong.
      That’s why they are smart contracts. If there’s an issue with the concept of an SCP then we have more problems. An NFT isn’t just set. That’s the point. If you doubt the tech then you doubt ETH or all SCP.

      An NFT is a key to unlock something or prove ownership.

      PFP NFTs are just the keys themselves that are traded. Pretty painted keys: but that’s just one use case.

    41. David Marshall on

      So what what is the conclusion about whether or not alt coins needed? There is no better channel on crypto but sometimes there can be so much detail the key point can be lost or there is some broad statement that it’s not clear the conclusion

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