185 Comments
Sep 22, 2022·edited Sep 22, 2022

Clif, if you read some code that purported to be the open source code of an application, how would you know that this code IS the code used -- if ever it was, how would you know it had not been revised? I believe that "open source code" ONLY means you may copy the code and compile and run it yourself if you wish. I do NOT believe that if I am told the code for some application is "open source code" that this at all is any assurance of integrity or security.

While one cannot prove there are back doors in code unless doing extensive analysis and testing, one cannot prove the contrary either without a similar effort.

After reviewing NUMEROUS articles in which the author of a major antiviral software used back doors to collect evidence, and then released volumes of said evidence, I think it is reasonable to suspect any and all software as having back doors so long as there is a profit motive for using them.

Consequently, I take issue with any claim that the process and systems associated with cryptocurrencies are secure, and I think if you said, "I want to audit your systems and software that you CLAIM are open source" you would get nothing in reply but LAUGHTER.

In short, any claim that cryptocurrencies are trustworthy is BS.

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The dumbest assertion is that there is a back door to Bitcoin. If someone had first-hand knowledge then they could simply post the code block on a Bitcoin forum and the developers would remove it right away. Supposedly two "inflation" bugs have been discovered and fixed.

Contrast that to any "gold backed" currency which is one giant back door for the criminals who issue it. The oldest con in world history. If you personally don't have access to the bullion vault, all you have are pieces of paper or blips on a screen. In 6000 years, the story never changes. Until Bitcoin came along.

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I have always agreed with you about XRP as it seems the bankster's tend to favor it, not those who understand the decentralization that cryptos can and should offer.

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Clif like Bix… does not read code. Of Clif says he is C/C++ developer but I don’t believe this. I suspect that Clif worked on contract somewhere around the MS organization in the ‘90s.

Why do I say this?

Because Clif is wrong in his assertions about Ripple/XRP.

Clif has certainly NOT read ANY Ripple developed products- RippleD, InterLedger, etc. I don’t expect that anyone person knows or is familiar with the code other than Schwartz or Nick Bourgalis. Most real developers will understand that all software products have library dependencies which are outside the scope of the Ripple code.

Clif is WRONG about RippleNet being used for solely cross border.

So… why is Clif like Bix wound up about Ripple??

All software projects, if significant will be co-opted. The question is, is it safe enough.

You the reader can define ‘safe’.

Nothing is real… safe for the common man should be to survive the current event and bring value to your local community. If Google or another large entity is invested in or on the board of directors then it should be safe for the common man.

Remember, Bix’s track record in crypto - Veratassuum (dead), LiteCoin (dead), Theta (soon to be dead). These people (Clif and Bix) are only pseudo software technical.

HashGraph has Google investment as does Ripple. Stellar has IBM and Accenture investment. These companies have better information than you (reader) will have.

Recall that SSL encryption (open source) was compromised.

Nothing is real.

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XRP AND XLM WILL ASSIST SWIFT VIA ACCENTURE CLIF. This is documented in Swift documents recently released by Swift on their website. They call out Ripple by name, also Ripple is called out in the recent Digital Dollar Foundation announcement.

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Thanks Clif!

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Thanks Cliff....great education and help! Yes with all the information, I can make better decisions. t

Thank you Sir!

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So super slow, huge fee antique ass bitcoin is better than XRP that takes 2 seconds to transfer and a penny? Lol got it

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I love XRP- SOLO and CORE. I love silver too. So boo hoo to you.

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Getting ready to take the crypto plunge. Thx for the insight & confidence boost‼️👍🏼

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No. Completely different networks. Completely different codebases. Written by different teams in different programming languages. XRP is native token to the XRP Ledger. RippleNet doesn’t have a token, it is not a blockchain.

Ripple software interacts with both networks. They use RippleNet for payments between financial institutions and XRP Ledger to source liquidity (a product called ODL).

The XRP Ledger was developer in 2011 before Ripple existed. Ripple created RippleNet around 2015. RippleNet is usable by financial institutions. It is a permissioned, regulatory compliant network.

Coil uses the XRP Ledger

Xumm wallet only works with the XRP Ledger.

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Clif, this is the first thing I've listened of you. But I'm seriously wondering if you were looking at the right codebase? The XRP Ledger is an open source, decentralised, permissionless, blockchain.

1) You say that the only use of XRP is as a central bank messaging system. Clearly it is not, as XRP is in widespread use at the moment, and central bank messaging system is certainly not one of those usecases. You know why? Of course you do, because you already answered why in the next point

2) I agree that XRP is not going to "replace" SWIFT. Why? Because the main purpose of SWIFT is as an intrabank messaging system, and the XRP Ledger (as you say) is not a messaging system. It is a payments settlement network. It allows peer to peer payments. RippleNet could possibly replace SWIFT, but not the XRP Ledger.

3) You claim that XRP "only works with the banks". Again, you have read the source code, so you know you are lying when you say this. XRP is permissionless and anyone can (and does) use it. The XRP Ledger has nothing intrinsically to do with banks whatsoever. Again, you know this as you have read the source code.

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Thanks Clif!

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There are a lot of savvy people on this channel, so I have a question that no one has answered so far, not my banker, not any other podcaster. It may seem simplistic and obvious to y'all, but so far no one can tell me if social security will collapse along with everything else. My major income is SS, as my pt job doesn't pay enough to live on. If SS dies, so will a lot of elders who are too old to work, or too infirm, etc. So this question is becoming crucial. Having said that, I can understand it might get paid by some crypto currency or debit card system from the CB , but as long as I can cash it out, I'm ok. As long as cash exists. Or I can transfer it to a different system. So, has any one got an understanding of what is the likely scenario?

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"I admitted I was powerless over a technical understanding of cryptocurrency." I am a moron in this regard, but I know enough to be thrilled that Clif is hopeful. I'm a very small potatoes HODLer, so all the more I need that BTC shizz to shoot back up. Here's what I need help understanding if anyone dare aid me, and if so thank you in advance: 🚨How does the central bank literally, in practical terms, cause the price of BTC to plummet? Are they DIRECTLY manipulating the price? If so, how, what's to stop anyone else/another entity from also doing so?🚨 (Probably everything I don't know about coding and technology, but if you wanna hear about adverbs, then I'm your man--so to speak.)

I need to stop worrying and to have hope, especially while I'm enduring the punishment inflicted on me by my blue industry. It's not just teachers doing what Project Veritas exposed; namely blackballing older and/or conservative teachers. It's also young indoctrinates who are taking over key positions in the book industry. They are icing out the elders, who are light-years ahead of them in industry skill and would never interfere with free expression. I digress. For me, an older broad by myself, it's important to be financially solvent, but I'm now back in debt. If someone would be so kind as to explain why/how Clif is right (and intuitively I KNOW he is!) about the near-future rebounding of crypto, it would help me shut down my internal monologue of personal doom. 🙏

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Hi Clif High, regarding renewable energy, you never seem to mention storage of electricity via battery or hydro. Plus what about Wave and tidal energy, do you see any future development in this kind of technology?

Also what about virtual power plants, where roof top solar is distributed throughout local communities?

I really enjoy listening to you and have done since 2017.

All the best Clif. Mikee. @3mh

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