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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. Saifedean Ammous‏ @saifedean 9 Aug 2018
      • Report Tweet

      I am planning on writing a monthly research bulletin on the economics of Bitcoin. What are some economic questions related to Bitcoin you would like to see me discuss?

      227 replies 68 retweets 647 likes
    2. Francis Pouliot  ☣️‏Verified account @francispouliot_ 9 Aug 2018
      • Report Tweet
      Replying to @saifedean

      Trade deficits between countries that have high production / consumption of Bitcoin. How will mining affect trade deficits and how government's could encourage mining to reduce trade deficits in case of Hyperbitcoinization . Also: mining vs. buying/hodling opp. cost calculation.

      3 replies 2 retweets 62 likes
    3. Saifedean Ammous‏ @saifedean 9 Aug 2018
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      Replying to @francispouliot_

      Good question. Just as a quick response: Switzerland ran trade surpluses and accumulated enormous amounts of gold, without it producing any gold. The point of money is that it's as easy to produce as to purchase, so instead of mining, countries should have good econ policies

      1 reply 5 retweets 64 likes
    4. Francis Pouliot  ☣️‏Verified account @francispouliot_ 9 Aug 2018
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      Replying to @saifedean

      Did Switzerland gov buy the gold though or was it the Swiss people? Worth looking into episodes where govs. didn't buy gold for sovereignty wealth funds but instead installed policies that incentivized individual hoarding of gold but with national "macroeconomics" objective

      1 reply 1 retweet 25 likes
    5. Saifedean Ammous‏ @saifedean 9 Aug 2018
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      Replying to @francispouliot_

      Gov didn't buy it and the best policy they followed was the almost complete absence of any economic policies. A free market meant people saved, accumulated capital, increased productivity, and earned gold from abroad. Also, security & peace made foreigners sent their gold there

      1 reply 4 retweets 58 likes
    6. Francis Pouliot  ☣️‏Verified account @francispouliot_ 9 Aug 2018
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      Replying to @saifedean

      I think a large part was some sort of gentleman agreement amongst European elites until mid 20th that 🇨🇭was off limits to prevent mutual destruction of gold/wealth storage as hedge against losing wars.

      1 reply 1 retweet 24 likes
    7. Saifedean Ammous‏ @saifedean 9 Aug 2018
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      Replying to @francispouliot_

      Yes, though it may not have been an agreement as much as the self-interest of most of the leaders having their wealth stored there, plus Switzerland's complete absence of foreign policy making nobody an enemy & giving them a very strong defensive base.

      2 replies 2 retweets 43 likes
      Nick Szabo  🔑‏ @NickSzabo4 9 Aug 2018
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      Replying to @saifedean @francispouliot_

      They also were (to some extent still are) armed to the teeth and have a mountain terrain well suited to defense.

      10:45 PM - 9 Aug 2018
      • 3 Retweets
      • 62 Likes
      • Jan Siebert Umar Bolatov [0.17.1]⚡ Adam Back drlx ⚡ Ronen Lahat BCH/BSV-are-scams Human Damian Mee 😷 [🇭🇰♥️Hong Kong] metamarcdw⚡[nowallet.org]🗝️
      3 replies 3 retweets 62 likes
        1. New conversation
        2. Nick Szabo  🔑‏ @NickSzabo4 9 Aug 2018
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          Replying to @NickSzabo4 @saifedean @francispouliot_

          The history of holding and otherwise using gold is very closely tied to physical security. The history of crypto is and will be closely tied to key management.

          7 replies 39 retweets 154 likes
        3. Nick Szabo  🔑‏ @NickSzabo4 9 Aug 2018
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          Replying to @NickSzabo4 @saifedean @francispouliot_

          Swiss soldiers were also, not coincidentally, often hired as mercenaries and guards across Europe. https://en.wikipedia.org/wiki/Swiss_Guards …

          2 replies 0 retweets 24 likes
        4. Nick Szabo  🔑‏ @NickSzabo4 9 Aug 2018
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          Replying to @NickSzabo4 @saifedean @francispouliot_

          Quite possibly related to their heavily pastoral diet.

          0 replies 1 retweet 11 likes
        5. End of conversation
        1. New conversation
        2. Storms‏ @austorms 9 Aug 2018
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          Replying to @NickSzabo4 @saifedean @francispouliot_

          That mountain terrain is historically underrated. Same with Afghanistan.

          1 reply 0 retweets 5 likes
        3. janey‏ @janeygak 10 Aug 2018
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          Replying to @austorms @NickSzabo4 and

          I have always wondered if there were other factors involved in why certain tribes immediately rose against invaders while others submitted. The Nooristani, no doubt the most carnivorous and isolated, were the first to rise against the Soviets.

          1 reply 0 retweets 2 likes
        4. janey‏ @janeygak 10 Aug 2018
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          Replying to @janeygak @austorms and

          Then there were the Eastern tribes that rose against the most beloved king Amanullah- for he dared to announce a plan to tax Afghans, infringing on their sovereignty.

          1 reply 0 retweets 2 likes
        5. janey‏ @janeygak 10 Aug 2018
          • Report Tweet
          Replying to @janeygak @austorms and

          janey Retweeted

          Then there is a historic Afghan aversion to certain foods, such as legumes for example. 'Daalkhor' (eater of legumes) being an insult. https://twitter.com/HakonRotmwrt/status/864152733577859074?s=19 …

          janey added,

          This Tweet is unavailable.
          2 replies 0 retweets 5 likes
        6. Francis Pouliot  ☣️‏Verified account @francispouliot_ 10 Aug 2018
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          Replying to @janeygak @austorms and

          I know nothing but here's a guess: could be inverse causation: meat eaters likely were wealthier as a result of being higher social class (meat is expensive). Their status could be derived from military strength. So the fighters ate me, but meat eaters not necessarily fighters.

          1 reply 0 retweets 4 likes
        7. janey‏ @janeygak 10 Aug 2018
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          Replying to @francispouliot_ @austorms and

          This is very interesting. I do know that in Wakhan, for example, there are only two groups with an interesting dynamic: the Wakhi (poor, agriculturalist) and the Kyrgyz (wealthier, sheep/yak pastoralists). The Wakhi typically work for the Kyrgyz.

          2 replies 0 retweets 4 likes
        8. Francis Pouliot  ☣️‏Verified account @francispouliot_ 10 Aug 2018
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          Replying to @janeygak @austorms and

          Kyrgyz probably able to survive famins and have lower time preference b/c higher life expectancy, leading to wealth accumulation and military power. (100% credit for seeing the world through @nntaleb and @saifedean lenses since reading both on last vacation. Makes sense though).

          1 reply 0 retweets 5 likes
        9. Francis Pouliot  ☣️‏Verified account @francispouliot_ 10 Aug 2018
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          Replying to @francispouliot_ @janeygak and

          Pastoral/nomad societies being lots more Antifragile that Agriculturers. Less prone to weather and physical attacks, being able to flee literally with their wealth and source of income.

          2 replies 2 retweets 6 likes
        10. 1 more reply
        1. Michael Goldstein‏ @bitstein 10 Aug 2018
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          Replying to @NickSzabo4 @saifedean @francispouliot_

          Michael Goldstein Retweeted Tuur Demeester

          https://twitter.com/TuurDemeester/status/779012002010296322 …

          Michael Goldstein added,

          Tuur Demeester @TuurDemeester
          The Swiss: maintaining neutrality on a regimen of non-belligerence, an armed citizenry, and Emmental. pic.twitter.com/BCtbNMZIOV
          0 replies 2 retweets 6 likes
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