Haroon Baig

CEO of a DeFi and crypto marketing agency

Compiled from 2 recorded interviews. Every statement below is drawn from the passage cited beside it.

Haroon Baig is the CEO of a marketing agency for DeFi and cryptocurrencies. He studied Computer Systems Engineering at university and dropped out. He worked at Microsoft on Microsoft Azure and quit after seeing the crypto ecosystem grow.

Early life and background

Baig has said he loved computers from his college days. He has also said he played games and used to hack things. [2]

Education

Baig studied Computer Systems Engineering at university. He dropped out of university. [2]

Career

Baig worked at Microsoft on Microsoft Azure. He quit Microsoft after seeing the crypto ecosystem grow. He is the CEO of a marketing agency for DeFi and cryptocurrencies. [2]

Bitcoin and early ventures

Baig recalls a hackathon in late 2012. He has said he was looking for a way to integrate payments and came across Bitcoin. He built an online marketplace, and he has said his team was later incubated at the i2i accelerator. [2]

Baig has said he built the first plugin to accept crypto payments on his marketplace. He said no crypto payment plugin existed then, so he coded one from the ground up. He shared the plugin with the Bitcoin community, which appreciated it. [2]

Investing and technical practice

Baig has said he invested in cryptocurrency at one point and stopped around 2016 to 2017. He has said he has set up Bitcoin nodes and runs full nodes himself. He said he can pay for a cup of coffee in Bitcoin using the Lightning Network, and that he pays for almost everything through his banking app. [1][2]

Views on Bitcoin and money

Baig has said Bitcoin had no definitions, and that people created the definitions. He said Bitcoin described itself only as peer to peer electronic cash. He said early people described Bitcoin as having three money properties. He has described Bitcoin as an entirely new digital asset class. [1]

Baig said Bitcoin was created as a currency but has become an asset. He called it a very volatile asset class and said it has had massive drops in past bear runs. He said Bitcoin's future use depends on many variables that are still big question marks. He has predicted Bitcoin will become the settlement layer. [1]

Baig has said Bitcoin's intrinsic value rests on trust, and that fiat currency has no intrinsic value. He said a currency loses its value when trust in it ends. He also said fiat currency collapsed in Venezuela and Zimbabwe. [1]

Baig has said Bitcoin has returned yearly gains of 250% since 2010. He said the Bitcoin ledger records every bitcoin from mining onward, and that Bitcoin is pseudo anonymous rather than anonymous. He also said one bitcoin can be divided into 100 million units called satoshis. [1]

Views on gold

Baig has cited Warren Buffett saying gold is a metal and not a productive asset. He said gold and other assets were used as money because they were limited. He said gold cannot be copied by someone writing code on a computer. He also said gold holders expect its value to rise because gold is rare. [1]

Baig has said gold has proved to be a good store of value because its volatility was low. He said productive value means that some productivity is happening and generating wealth. He said people buy gold, for example ten tola of it, as an asset class. He said gold has less productive value than companies such as Tesla or Amazon but is still a good store of value. He also said gold and fiat currency have nothing behind them, though gold is a good store of value. [1]

Views on trading, banks and inflation

Baig has said trading is healthy because it brings liquidity to a market. He said the 2008 financial crisis came from CFD trading and leverage. He said banks are the biggest facilitators of money laundering today. He also said crypto demand has been highest in countries with high inflation and low trust in government, including Venezuela and Iran. [1]

Views on the crypto industry

Baig has said the appeal of crypto was that there was no bank and no documents had to be given or signed. He said in the early years many people, including scammers, launched their own blockchains and coins. He said the market crashed at the end of 2017 because of these tokens. [2]

Baig said earlier security token offerings failed because they were haphazard. He said the space has matured into the DeFi era, and that many interest bearing assets have already been built in DeFi. He said the NFT wave was a craze that lasted only a few months. He also said the future focus is cross-chain interoperability, scalability and layer-2 solutions. [1][2]

Views on adoption and user experience

Baig has said mass adoption will happen when the user experience of the ecosystem improves. He said most users want to use an app and do not care about the technology. He said normal people use custodial services because they offer a better user experience. He said non-custodial solutions overwhelm average users with keys and cryptography, and that only developers and technologists use non-custodial solutions. [2]

Baig has said people call Bitcoin a scam after large hacks of 400 to 500 million dollars. He said technology change over the next ten years can equal a hundred years of past change. He also said innovation often surprises people. [1][2]

Views on lending and DeFi

Baig described yield farming as a way to put idle assets to work. He said a loan can be taken in less than 10 seconds in DeFi. He said getting a loan in Pakistan involves many documents and collateral. [2]

Views on how Bitcoin works

Baig has said Bitcoin's biggest limitation was its scalability, and that Bitcoin processes about 7 to 10 transactions per second. He said earlier digital cash needed a central entity to prevent double spending. He said Bitcoin aimed to let people transfer value without any central entity, and that it combined existing open-source technologies rather than inventing new ones. He also said Bitcoin uses a variant of the BitTorrent protocol. [2]

Views on mining and market structure

Baig has said Bitcoin holds about 60% and Ethereum about 14% of a 1.5 trillion dollar crypto market. He thinks roughly 30% or 32% of Bitcoin mining happens in China. He said mining concentrates where electricity and equipment are cheap, and that Bitcoin mining's economic incentive has pushed solar technology to improve. [2]

Baig said Bitcoin's difficulty adjusts roughly every four weeks. He said the 12.5 Bitcoin block reward helps miners pay rent and subsidize equipment costs, and that mining rewards will eventually be replaced entirely by transaction fees. [2]

Baig explained proof of work as requiring real resources that cannot be recovered to secure Bitcoin. He said proof of stake secures a network with locked stake instead of physical resources. He said that someone who mines wrong blocks or approves dubious transactions has a percentage of their stake cut. He said cryptocurrency is the economic value that secures the blockchain network, and that without its cryptocurrency, a blockchain just becomes a database. He also said anyone can validate transactions, and validators are not paid for it. [2]

Views on layer-2 and Ethereum

Baig has said layer-2 solutions have no token of their own and use Bitcoin or Ethereum as a settlement layer. He said they could handle day-to-day payments such as buying a cup of coffee. He explained that the Lightning Network relies on a multi-signature scheme. He also said side chains built on Bitcoin will become the small currencies of every country. [1][2]

Baig said the CryptoKitties app overloaded the Ethereum network. He said Ethereum smart contracts gained little traction because the user experience was broken. He said even apps without their own token must pay gas fees in Ethereum. He said users would not use Facebook if each like cost them a fee, and that a certain subset of apps, not every app, will become decentralized. [2]

Views on network upgrades

Baig has said upgrading a decentralized network requires the nodes and miners to agree. He said anyone can propose an Ethereum Improvement Proposal (EIP) or a Bitcoin Improvement Proposal (BIP). He also said a fork creates two currencies. [2]

Timeline

2012
Recalls a hackathon in late 2012.[2]
2016
Stopped investing in cryptocurrency around 2016 to 2017.[1]

Appearances

DateTitleWhere
2021-06-28 Is Bitcoin the new gold? Thought Behind Things
2021-06-25 How Bitcoin actually works, explained from scratch Thought Behind Things

Frequently asked questions

Who is Haroon Baig?

Haroon Baig is the CEO of a marketing agency for DeFi and cryptocurrencies. He studied Computer Systems Engineering at university. He worked at Microsoft on Microsoft Azure.[2]

What does Haroon Baig do?

Haroon Baig is the CEO of a marketing agency for DeFi and cryptocurrencies. He has also said he has set up Bitcoin nodes and runs full nodes himself.[2]

Where did Haroon Baig study?

Haroon Baig studied Computer Systems Engineering at university. He dropped out of university.[2]

Did Haroon Baig work at Microsoft?

Yes. Haroon Baig worked at Microsoft on Microsoft Azure. He quit Microsoft after seeing the crypto ecosystem grow.[2]

How did Haroon Baig get into Bitcoin?

Haroon Baig has said he was looking for a way to integrate payments and came across Bitcoin. He recalls a hackathon in late 2012. He built an online marketplace, and he has said he built the first plugin to accept crypto payments on it.[2]

What has Haroon Baig said about gold?

Haroon Baig has said gold has proved to be a good store of value because its volatility was low. He has cited Warren Buffett saying gold is a metal and not a productive asset. He also said gold has less productive value than companies such as Tesla or Amazon.[1]

What does Haroon Baig think about Bitcoin?

Haroon Baig has described Bitcoin as an entirely new digital asset class. He has said Bitcoin was created as a currency but has become an asset, and that it is a very volatile asset class. He has predicted Bitcoin will become the settlement layer.[1]

References

  1. Is Bitcoin the new gold? . Thought Behind Things , 2021-06-28.
  2. How Bitcoin actually works, explained from scratch . Thought Behind Things , 2021-06-25.
Show the source passages (98 statements)
  1. Haroon Baig has said Bitcoin had no definitions, and that people created the definitions. Bitcoin mein koi definitions nahi thi. Yeh logon ne banayi hain.
  2. Haroon Baig has said Bitcoin described itself only as peer to peer electronic cash. It was just peer to peer electronic cash.
  3. Haroon Baig has said Bitcoin's intrinsic value rests on trust. Bitcoin ki saari jo intrinsic value hai woh trust ke upar hai.
  4. Haroon Baig has said fiat currency has no intrinsic value. Fiat currency ki koi intrinsic value nahi hai.
  5. Haroon Baig has cited Warren Buffett saying gold is a metal and not a productive asset. Warren Buffett ne kaha tha ke gold jo hai woh ek metal hai. Hum. Aur woh ek productive asset nahi hai
  6. Haroon Baig has said gold and other assets were used as money because they were limited. The reason why these assets were used as currencies was because they were limited.
  7. Haroon Baig has said early people described Bitcoin as having three money properties. Shuru mein log kehte the ke yaar ismein teen properties hain. It's a media of exchange, store of value, unit of account.
  8. Haroon Baig has described Bitcoin as an entirely new digital asset class. Bitcoin jo hai woh it's an entirely new digital asset class.
  9. Haroon Baig has said Bitcoin was created as a currency but has become an asset. It was created as a currency. Yeah. But now it has become an asset.
  10. Haroon Baig has said Bitcoin is a very volatile asset class. And it's a very volatile asset class.
  11. Haroon Baig has said fiat currency collapsed in Venezuela and Zimbabwe. Venezuela ke andar, Zimbabwe ke andar ke 100-100 trillion dollar ke note the, ek-ek trillion dollar ke note the, fiat collapse kar gaya tha.
  12. Haroon Baig has said a currency loses its value when trust in it ends. Trust matlab saari ki saari intrinsic value trust ke upar hai. Trust khatam, aapki currency khatam.
  13. Haroon Baig has said gold cannot be copied by someone writing code on a computer. Usko koi baith kar computer pe code karke ek naya gold nahi nikal sakta.
  14. Haroon Baig has said Bitcoin's future use depends on many variables that are still big question marks. But there are a lot of variables and those variables are big question marks.
  15. Haroon Baig has predicted Bitcoin will become the settlement layer. Bitcoin will become the settlement layer.
  16. Haroon Baig has said side chains built on Bitcoin will become the small currencies of every country. Uske upar layer two scaling solutions honge, uske upar side chains hongi. Those will be the super small currencies of every country.
  17. Haroon Baig has said many interest bearing assets have already been built in DeFi. Interest bearing assets bahut zyada build ho chuke hain DeFi ke andar.
  18. Haroon Baig has said earlier security token offerings failed because they were haphazard. Security tokens ka bhi ek daur aaya tha but it failed kyunke woh again it was all haphazard.
  19. Haroon Baig has said Bitcoin has had massive drops in past bear runs. humne bahut uh massive drops dekhe the BTC ke.
  20. Haroon Baig has said trading is healthy because it brings liquidity to a market. Trading is healthy. Theek hai? Kyun? Kyunki agar ek market ke andar aapne liquidity lani hai
  21. Haroon Baig has said gold holders expect its value to rise because gold is rare. Sona chunke rare hai, future mein iski value barhegi.
  22. Haroon Baig has said gold has proved to be a good store of value because its volatility was low. usne khud ko prove kiya ki it's a good store of value. Why? Usme volatility bahut kam thi.
  23. Haroon Baig has said productive value means that some productivity is happening and generating wealth. Intrinsic value se zyada main productive value kahunga ki there is some productivity happening based on which wealth is being generated.
  24. Haroon Baig has said people buy gold, for example ten tola of it, as an asset class. Woh is maqsad se paise daalte hain sone ke andar ki yaar yeh 10 tola sona hai, it's an asset class.
  25. Haroon Baig has said gold has less productive value than companies such as Tesla or Amazon but is still a good store of value. Lekin uske peeche jitni productive value aapne Tesla ke peeche batayi, ya Amazon ke peeche batayi, utni value sone ke peeche nahi hai. Theek hai? But still sona jo hai woh it's a good store of value.
  26. Haroon Baig has said the 2008 financial crisis came from CFD trading and leverage. Lekin 2008 ka jo financial crisis hai woh bhi isi wajah se aaya tha. Log CFD's ko trade kar rahe the. Trade karte karte leverage trading hui
  27. Haroon Baig has said Bitcoin has returned yearly gains of 250% since 2010. Bitcoin ne 2010 se lekar abhi tak yearly jo hai wo 250% ka gain diye, yearly.
  28. Haroon Baig has said the Bitcoin ledger records every bitcoin from mining onward. Pehle bitcoin mine karne se lekar abhi tak har ek ek bitcoin ka hisab ledger ke upar maujood hai.
  29. Haroon Baig has said Bitcoin is pseudo anonymous rather than anonymous. Bitcoin ke liye term use hota hai, it's pseudo anonymous.
  30. Haroon Baig has said one bitcoin can be divided into 100 million units called satoshis. Bitcoin ko aap 100 million units tak divide kar sakte hain aur us ek unit ko hum satoshi kehte hain.
  31. Haroon Baig has said crypto demand has been highest in countries with high inflation and low trust in government, including Venezuela and Iran. Historically, jin countries mein inflation zyada thi, jin countries mein government pe trust kam tha, including Venezuela, uh Iran ki agar hum baat karein, uski bhi, wahan pe cryptocurrencies ki demand sabse zyada thi.
  32. Haroon Baig has said technology change over the next ten years can equal a hundred years of past change. agle 10 saal jo hai technology mein woh 100 saalon ke barabar hoti hai.
  33. Haroon Baig has said innovation often surprises people. Lekin innovation hamesha surprise karti hai.
  34. Haroon Baig has said banks are the biggest facilitators of money laundering today. banks jo hain, they are the biggest facilitators of money laundering as of today.
  35. Haroon Baig has said he invested in cryptocurrency at one point and stopped around 2016 to 2017. I have invested at one point, mere pata nahi ripples and Ethereum pade bhi hain kahin par kisi I don't know Coinbase ke upar hain, Binance pe pade hue hain but I stopped 2016-17 mein.
  36. Haroon Baig has said he pays for almost everything through his banking app. Right now, I pay like everything through my banking app, theek hai?
  37. Haroon Baig has said gold and fiat currency have nothing behind them, though gold is a good store of value. Gold ke peeche bhi kuch nahi hai, aapki fiat ke peeche bhi kuch nahi hai, theek hai? But it's it's a good store of value.
  38. Haroon Baig is the CEO of a marketing agency for DeFi and cryptocurrencies. He is the CEO of Decentralized Lab. They are a marketing agency for DeFi and cryptocurrencies. Is that correct? [Haroon] Exactly, yeah.
  39. He says he loved computers from his college days. I loved computers back from my college days
  40. He says he played games and used to hack things. main games waghera khelta tha. I used to hack stuff and and that
  41. He studied Computer Systems Engineering at university. so I was a student of Computer Systems Engineering
  42. He dropped out of university. So, I dropped out of university
  43. He worked at Microsoft on Microsoft Azure. So, I was working on Microsoft Azure.
  44. He quit Microsoft after seeing the crypto ecosystem grow. Then uske baad when I saw the crypto ecosystem growing, Ethereum aa gaya, baqi jitni jo ecosystem jo hai woh thoda expand hona start ho gaya, then I really wanted something. So, uske baad maine Microsoft jo hai woh quit ki.
  45. He recalls a hackathon in late 2012. there was a hackathon. So, I think it was it was 2012, late late 2012.
  46. He says he was looking for a way to integrate payments and came across Bitcoin. So, I was just thinking ke yaar koi aisa tareeqa ho ke I can integrate a payment channel na. Aur us se I came across Bitcoin.
  47. He built an online marketplace. So, I built an online marketplace jiska naam jo tha woh Emperor's Bazaar tha.
  48. He says his team was later incubated at the i2i accelerator. So, we were later incubated in i2i accelerator
  49. He says he built the first plugin to accept crypto payments on his marketplace. us mein I built the first plugin to accept crypto payments
  50. He says no crypto payment plugin existed then, so he coded one from the ground up. Koi us waqt jo tha plugin available nahi tha. So, I had to code everything myself from the ground up.
  51. He says he shared the plugin with the Bitcoin community, which appreciated it. woh maine community se bhi share kiya. Wahan pe mujhe kaafi jo hai woh appreciation mili
  52. He says the appeal of crypto was that there was no bank and no documents had to be given or signed. ke there is no bank, they are like you are not required to give any documents, you are not required to sign any documents
  53. He says in the early years many people, including scammers, launched their own blockchains and coins. Jo usually scammers thay, baqi jitne log thay, they were launching their own blockchains, they were launching their own coins
  54. He says the market crashed at the end of 2017 because of these tokens. 2017 ke end mein market jo hai woh in tokens ki wajah se crash ho gayi
  55. He says the space has matured into the DeFi era. mature hote hote now we are into the DeFi era
  56. He says the NFT wave was a craze that lasted only a few months. Lekin woh jo hai, I was reading research jisme 95% of the transactions jo hain woh kam ho gayi in the NFT space. So, it was just a craze for a few months, you can say.
  57. He says the future focus is cross-chain interoperability, scalability and layer-2 solutions. So, the future is about cross-chain interoperability and scalability and layer-2 solutions.
  58. He says Bitcoin processes about 7 to 10 transactions per second. Bitcoin jo hai woh 7 se 10 transactions per second ke hisaab se karta hai
  59. He says he can pay for a cup of coffee in Bitcoin using the Lightning Network. Right now, I can pay for a cup of coffee in Bitcoin using the layer-2 solution called Lightning Network
  60. He says he has set up Bitcoin nodes and runs full nodes himself. woh maine nodes setup kiye hue hain, maine uska poora jo hai woh apna architecture, full nodes waghera mein cheezein run kar raha hoon
  61. He says mass adoption will happen when the user experience of the ecosystem improves. woh us waqt hogi when jo is ecosystem ka user experience hai woh improve hoga
  62. He says most users want to use an app and do not care about the technology. They just want to use an app
  63. He says normal people use custodial services because they offer a better user experience. Normal people are going towards custodial solutions. Uski wajah yeh hai ke they provide a much better user experience
  64. He says people call Bitcoin a scam after large hacks of 400 to 500 million dollars. Jab wahan pe ek hack hota hai 400-450 million dollar, 500 million dollar ka hack hota hai to log kehte hain ke yaar Bitcoin is a scam
  65. He says non-custodial solutions overwhelm average users with keys and cryptography. Ab jo non-custodial solutions hain woh average banda istemaal nahi kar sakta. Woh dekhte hi overwhelm ho jata hai ke yaar yeh keys kya hai, yeh cryptography kya hai
  66. He says only developers and technologists use non-custodial solutions. So khali developers aur jo technologist hain wohi non-custodial solutions ko use kar rahe hain
  67. He describes yield farming as a way to put idle assets to work. Yield farming is tarah ke let's suppose aapke assets jo hain woh idle pade hue hain
  68. He says a loan can be taken in less than 10 seconds in DeFi. DeFi ke andar build ho rahi hain. Right now you can take a loan in less than 10 seconds
  69. He says getting a loan in Pakistan involves many documents and collateral. Pakistan mein to aapko loan milna kaafi badi baat hai. Theek hai? Woh aapko pehle se 10 document sign karwayenge, aap se collateral lenge
  70. He says layer-2 solutions have no token of their own and use Bitcoin or Ethereum as a settlement layer. Jinmein koi token nahi hota lekin woh Bitcoin Ethereum ke upar hoti hain jo ke is tarah ke innovative solutions provide karti hain ke underlying platform ko use kiya jaye but as a settlement layer.
  71. He says layer-2 solutions could handle day-to-day payments such as buying a cup of coffee. Jismein sabse bada use case hai day-to-day payments ke you can buy a cup of coffee with Bitcoin
  72. He says the CryptoKitties app overloaded the Ethereum network. CryptoKitties ek app thi jisne poora Ethereum network crash karwa diya
  73. He says Ethereum smart contracts gained little traction because the user experience was broken. Ab un smart contracts mein zyada koi traction nahi mili logon ko. Theek hai? Kyunki poora ka poora jo UX tha woh broken tha.
  74. He says Bitcoin's biggest limitation was its scalability. Sabse badi limitation thi uski scalability. Right. Theek hai? Ke Bitcoin was not scalable.
  75. He says earlier digital cash needed a central entity to prevent double spending. Lekin un sab mein ek masla tha aur woh masla tha centralized entity ka. Right. Aur centralized entity ka masla kyun tha? Woh masla isliye tha taake log jo hai woh double spend na kar sakein.
  76. He says Bitcoin combined existing open-source technologies rather than inventing new ones. So there is nothing new. Jo purani technologies hain wohi saari ki saari Bitcoin mein open source technologies usne mila ke rakh di.
  77. He says Bitcoin aimed to let people transfer value without any central entity. ek decentralized environment ho ke without any central entity aap value jo hai woh kisi ko transfer kar sakein
  78. He says Bitcoin uses a variant of the BitTorrent protocol. So Bitcoin jo hai uses a variant of the BitTorrent protocol.
  79. He says Bitcoin holds about 60% and Ethereum about 14% of a 1.5 trillion dollar crypto market. Jo abhi cryptocurrency ki 1.5 trillion dollar ki market hai, usme se sirf jo hai 60% poora ka poora wo Bitcoin own karta hai. Right. Ghaliban 14% jo hai wo Ethereum own karta hai
  80. He says mining concentrates where electricity and equipment are cheap. Kyunke jahan pe cheap electricity hogi aur jahan pe equipment sasta hoga, wahan mining zyada hogi
  81. He thinks roughly 30% or 32% of Bitcoin mining happens in China. I think 30% or 32% something China mein ho raha hai
  82. He says Bitcoin mining's economic incentive has pushed solar technology to improve. Solar technology kabhi bhi usne itna innovate nahi kiya jitna Bitcoin ki wajah se kiya, kyunke there is an incentive
  83. He says Bitcoin's difficulty adjusts roughly every four weeks. difficulty adjustment. Theek hai? Aur wo ghaliban har 4 weeks ke baad hoti hai
  84. He explains proof of work as requiring real resources that cannot be recovered to secure Bitcoin. in order to secure a Bitcoin, you need to spend something tangible that you cannot get back
  85. He says cryptocurrency is the economic value that secures the blockchain network. Cryptocurrency is an economic value that secures the blockchain network
  86. He says without its cryptocurrency, a blockchain just becomes a database. Agar aap cryptocurrency ko nikaal dein to aapka jo blockchain ka jo poora network hai wo it just becomes a database
  87. He says the 12.5 Bitcoin block reward helps miners pay rent and subsidize equipment costs. Ye jo 12.5 Bitcoin milte hain, isse obviously log jo hai apna rent pay karte hain aur jo equipment ki cost hai usko subsidize karte hain
  88. He says proof of stake secures a network with locked stake instead of physical resources. bajaye iske ke hum physical resources ko aur physical saari cheezon ko hum on stake lagayein
  89. He says that someone who mines wrong blocks or approves dubious transactions has a percentage of their stake cut. Agar for example aapne galat blocks mine kiye ya aapne dubious transactions approve ki, to is stake mein se ek khaas percentage of money jo hai woh kaat liya jayega
  90. He explains that the Lightning Network relies on a multi-signature scheme. So Lightning Network mein basically yeh hota hai ke ismein Bitcoin mein ek signature scheme hai jisko multi-sig kehte hain
  91. He says even apps without their own token must pay gas fees in Ethereum. Lekin still you will have to pay gas fees in Ethereum
  92. He says users would not use Facebook if each like cost them a fee. agar Facebook announce kare ke har ek like ke liye aapko 50 paise dene padenge, nobody will use Facebook
  93. He says a certain subset of apps, not every app, will become decentralized. Well, a certain subset of apps, not every single app, yes.
  94. He says upgrading a decentralized network requires the nodes and miners to agree. To whenever you perform an upgrade in a decentralized way, to usmein aapko jo nodes hain aur jo miners hain unko etemaad mein lena padta hai
  95. He says anyone can propose an Ethereum Improvement Proposal (EIP) or a Bitcoin Improvement Proposal (BIP). Ethereum mein EIPs hote hain, Ethereum Improvement Proposal, Bitcoin mein BIPs hote hain, Bitcoin Improvement Proposal. Anybody can propose anything.
  96. He says a fork creates two currencies. Ab fork ho gaya hai, to jo mineable Ethereum hai wo utna hi hai, bas mining ka tareeka jo hai wo farq hai. Ethereum ke network ko kuch nahi hota, theek hai? Do currencies ban jaati hain.
  97. He says mining rewards will eventually be replaced entirely by transaction fees. us waqt jab saare Bitcoins mine ho jayenge, uh us waqt jo mining reward hoga, it will be replaced entirely with the transaction fee
  98. He says anyone can validate transactions, and validators are not paid for it. Nahi, validation to koi bhi kar sakta hai. Woh to mera wallet bhi kar sakta hai. Validation ke paise nahi milte.