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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. Samson Mow‏Verified account @Excellion Feb 23
      • Report Tweet

      Samson Mow Retweeted Lawrence H. White

      Ofc 1 BTC = 1 BTC alone doesn’t make for sound money. The point economists miss is that #Bitcoin is like a ruler. Finite supply allows us to measure other things. Fiat supply keeps growing, so measuring in $’s is meaningless. Can’t measure things with a ruler that keeps changing.https://twitter.com/lawrencehwhite1/status/1099427956131287040 …

      Samson Mow added,

      Lawrence H. White @lawrencehwhite1
      Replying to @pierre_rochard
      BTC1 = BTC1. You don’t seriously think that this is a good argument for considering Bitcoin a sound money, do you?
      28 replies 96 retweets 419 likes
      Show this thread
    2. Nick Szabo  🔑‏ @NickSzabo4 Feb 24
      • Report Tweet
      Replying to @Excellion

      This doesn't account for variation in demand, which is what produces Bitcoin's volatility. It will very likely decline, eventually even below the volatility of fiat, but it will never be zero. There is no such thing as a ruler in economics, and can't be.

      15 replies 17 retweets 145 likes
    3. Elaine  🐤 🇮🇨‏Verified account @eiaine Feb 24
      • Report Tweet
      Replying to @NickSzabo4 @Excellion

      "There *is* such a thing as a ruler in economics, and the thing that measures is time" --You, basically. cc @ScandalOfMoneypic.twitter.com/jTRUm1a7bv

      2 replies 2 retweets 27 likes
    4. prabhjeet 🦎 🔄 🐊‏ @jeetsidhu_ Feb 24
      • Report Tweet
      Replying to @eiaine @NickSzabo4 and

      Funny enough it’s not just Bitcoin, distance (i.e. actual rulers) are based off time as well: The metre is defined as the length of the path travelled by light in a vacuum in 1/299 792 458 second

      1 reply 0 retweets 7 likes
    5. Elaine  🐤 🇮🇨‏Verified account @eiaine Feb 24
      • Report Tweet
      Replying to @jeetsidhu_ @NickSzabo4 and

      wait, why did'nt they pick a round number like 3.00e-8?

      2 replies 0 retweets 5 likes
    6. prabhjeet 🦎 🔄 🐊‏ @jeetsidhu_ Feb 24
      • Report Tweet
      Replying to @eiaine @NickSzabo4 and

      They had a better “ruler” in lasers to measure but they needed to take into account the margin of error in the old less dependable ruler to maintain backwards compatibility https://www.bipm.org/en/CGPM/db/17/1/ …

      1 reply 0 retweets 6 likes
    7. Elaine  🐤 🇮🇨‏Verified account @eiaine Feb 24
      • Report Tweet
      Replying to @jeetsidhu_ @NickSzabo4 and

      so c=3.00e8 until 1983? man, they should have just made the meter slightly shorter. given the manufacturing tolerances back then, no one would have noticed.

      1 reply 0 retweets 5 likes
      Nick Szabo  🔑‏ @NickSzabo4 Feb 24
      • Report Tweet
      Replying to @eiaine @jeetsidhu_ and

      Soon after 1800 machinists using McCauley's micrometer could measure distances down to 3 millionths of a meter: https://en.wikipedia.org/wiki/Henry_Maudslay#Micrometer …

      9:32 PM - 24 Feb 2019
      • 4 Retweets
      • 12 Likes
      • herp_derp Paul Graham Gordon Mohr ꧁👁👁꧂ Sean Erle Johnson Elaine 🐤🇮🇨 aristarchus Avy Faingezicht georgevaccaro ⚡️ teddy
      1 reply 4 retweets 12 likes
        1. herp_derp‏ @herp_derpshades Feb 25
          • Report Tweet
          Replying to @NickSzabo4 @eiaine and

          We finally are switching kilograms; To now be defined by a property of the universe/universal constant.https://www.smithsonianmag.com/science-nature/redefine-kilogram-180970798/ …

          0 replies 0 retweets 0 likes
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