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NickSzabo4's profile
Nick Szabo 🔑
Nick Szabo 🔑
Nick Szabo  🔑
@NickSzabo4

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Nick Szabo  🔑

@NickSzabo4

Blockchain, cryptocurrency, and smart contracts pioneer. (RT/Fav/Follow does not imply endorsement). Blog: http://unenumerated.blogspot.com 

Joined June 2014

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    1. Nick Szabo  🔑‏ @NickSzabo4 5 Jul 2018
      • Report Tweet

      Nick Szabo  🔑 Retweeted Jon Choi

      At scale, a Turing-complete blockchain can be a platform for extremely expensive trust-minimized computations. Not a "World Computer" or "Web3.0". With very carefully written & very small no-library programs, it would be suitable for large-sum financial smart contracts.https://twitter.com/jon_choi_/status/1014913203145326592 …

      Nick Szabo  🔑 added,

      Jon Choi @jon_choi_
      ethereum is: a trustless settlement layer *not* decentralized AWS (can't emphasize this enough) https://twitter.com/ricburton/status/1014514066767929344 …
      25 replies 146 retweets 458 likes
    2. von Osten‏ @stuck_im_westen 5 Jul 2018
      • Report Tweet
      Replying to @NickSzabo4

      Makes zero sense...

      1 reply 0 retweets 1 like
    3. von Osten‏ @stuck_im_westen 5 Jul 2018
      • Report Tweet
      Replying to @stuck_im_westen @NickSzabo4

      I mean, "Turning Completeness" basically means it can do every computational process at universal scale... (or am I mistaking?)

      1 reply 0 retweets 0 likes
    4. Nick Szabo  🔑‏ @NickSzabo4 5 Jul 2018
      • Report Tweet
      Replying to @stuck_im_westen

      No computer can do everything (some well-stated problems are mathematically impossible to solve), but Turing-complete programs can do far more than non-Turing complete programs. Scale is a different issue.

      1 reply 0 retweets 2 likes
    5. von Osten‏ @stuck_im_westen 5 Jul 2018
      • Report Tweet
      Replying to @NickSzabo4

      Strictly speaking, this is right - You can be turing complete but not scale. But should scalability really be AN ISSUE for such a #Blockchain? That is what I find a bit confusing about your statement.

      2 replies 0 retweets 1 like
    6. Nick Szabo  🔑‏ @NickSzabo4 5 Jul 2018
      • Report Tweet
      Replying to @stuck_im_westen

      Computational and social scalability are practically always both important issues. Ethereum has huge problems simply with computational scalability, but it would lose its value propvs. far cheaper alternatives if it solved them by trading social for computational scalability.

      1 reply 1 retweet 6 likes
    7. von Osten‏ @stuck_im_westen 5 Jul 2018
      • Report Tweet
      Replying to @NickSzabo4

      What you mean by "social scalability"?

      1 reply 0 retweets 0 likes
    8. Nick Szabo  🔑‏ @NickSzabo4 5 Jul 2018
      • Report Tweet
      Replying to @stuck_im_westen

      https://unenumerated.blogspot.com/2017/02/money-blockchains-and-social-scalability.html …

      1 reply 0 retweets 0 likes
    9. von Osten‏ @stuck_im_westen 5 Jul 2018
      • Report Tweet
      Replying to @NickSzabo4

      Dunno but I find this utterly wrong... "Nobody has discovered any way to greatly increase the computational scalability of the Bitcoin blockchain, for example its transaction throughput, and demonstrated that this improvement does not compromise #Bitcoin’s security."

      2 replies 0 retweets 1 like
      Nick Szabo  🔑‏ @NickSzabo4 5 Jul 2018
      • Report Tweet
      Replying to @stuck_im_westen

      Tons of people have claimed it, but nobody has actually demonstrated it, either mathematically or empirically.

      1:37 PM - 5 Jul 2018
      • 4 Likes
      • Demelza Hays Robert E. P. Levy Bennett Tomlin
      1 reply 0 retweets 4 likes
        1. New conversation
        1. von Osten‏ @stuck_im_westen 5 Jul 2018
          • Report Tweet
          Replying to @NickSzabo4

          Well, #BitcoinCash is as scalable as #Paypal right now. Moreover, 1GB blocks have been successfully tested already as well. So, dunno how you can still claim it can´t scale.

          2 replies 1 retweet 3 likes
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