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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. Francis Pouliot  ☣️‏Verified account @francispouliot_ Jul 30
      • Report Tweet
      Replying to @dcfmusic @6102bitcoin and

      Of course private keys can be hotwired. That's what hacking an account is.

      3 replies 0 retweets 3 likes
    2. Francis Pouliot  ☣️‏Verified account @francispouliot_ Jul 30
      • Report Tweet
      Replying to @francispouliot_ @dcfmusic and

      Bitcoin ownership is meaningless because on an infinite timeline, every private key ends up being lost.

      6 replies 0 retweets 3 likes
    3. Jermeh ☣️ [Google: "The Cantillon Effect"]‏ @n00bedJermeh Jul 30
      • Report Tweet
      Replying to @francispouliot_ @dcfmusic and

      u day drinking?

      2 replies 0 retweets 7 likes
    4. The Bitcoin Rabbi‏ @thebitcoinrabbi Jul 30
      • Report Tweet
      Replying to @n00bedJermeh @francispouliot_ and

      It’s 5 o clock somewhere

      1 reply 0 retweets 2 likes
    5. Jermeh ☣️ [Google: "The Cantillon Effect"]‏ @n00bedJermeh Jul 30
      • Report Tweet
      Replying to @thebitcoinrabbi @francispouliot_ and

      cheers to that!

      1 reply 0 retweets 2 likes
    6. Jermeh ☣️ [Google: "The Cantillon Effect"]‏ @n00bedJermeh Jul 30
      • Report Tweet
      Replying to @n00bedJermeh @thebitcoinrabbi and

      that said perhaps I kinda get what Francis is saying... There's a certain % of the population who is going to need custodial bitcoin. I think the other % will be competent and have a large enough stake in it to avoid custodial to be able to quickly arb custodial dishonesty.

      1 reply 0 retweets 3 likes
    7. Jermeh ☣️ [Google: "The Cantillon Effect"]‏ @n00bedJermeh Jul 30
      • Report Tweet
      Replying to @n00bedJermeh @thebitcoinrabbi and

      And hopefully we develop multisig solutions to take care of bitcoin wills when people die so as to pass on their bitcoin to their heirs, but that will always be partly custodial.

      2 replies 0 retweets 2 likes
    8. The Bitcoin Rabbi‏ @thebitcoinrabbi Jul 30
      • Report Tweet
      Replying to @n00bedJermeh @francispouliot_ and

      Multisig does not need to be custodial at all. In the sense that nobody can gain custody unless all parties collide against you. And you can make legal frameworks that prevent that

      2 replies 0 retweets 3 likes
    9. Nick Szabo  🔑‏ @NickSzabo4 Jul 30
      • Report Tweet
      Replying to @thebitcoinrabbi @n00bedJermeh and

      In straight M-of-N when other people have the shares, there's a tradeoff between risks of denial of service attack (M a larger fraction of N) and of having colluders steal the money (M a smaller fraction of N).

      2 replies 0 retweets 3 likes
    10. The Bitcoin Rabbi‏ @thebitcoinrabbi Jul 30
      • Report Tweet
      Replying to @NickSzabo4 @n00bedJermeh and

      If the holders of M are under legal contract, even if only one of them, wouldn’t that protect you enough? Yes they could steal your funds, but they could be disbarred and sued. Obviously talking if they are an established entity which can’t exit scam

      2 replies 0 retweets 1 like
      Nick Szabo  🔑‏ @NickSzabo4 Jul 30
      • Report Tweet
      Replying to @thebitcoinrabbi @n00bedJermeh and

      Works in some and maybe most circumstances, but t's more generally robust if, like Bitcoin itself, it doesn't depend on legal action to be secure.

      5:07 PM - 30 Jul 2019
      • 2 Likes
      • Riding Unicorns to the Moon Jermeh☣️ [Google: "The Cantillon Effect"]
      1 reply 0 retweets 2 likes
        1. New conversation
        2. The Bitcoin Rabbi‏ @thebitcoinrabbi Jul 30
          • Report Tweet
          Replying to @NickSzabo4 @n00bedJermeh and

          That’s the trade off, then you are just plainly not trusting your family members to collide and rob you. Thank G-d, I think that’s the system I’m comfortable with. But good to know that someone could devise other alternatives

          1 reply 0 retweets 3 likes
        3. Nick Szabo  🔑‏ @NickSzabo4 Jul 30
          • Report Tweet
          Replying to @thebitcoinrabbi @n00bedJermeh and

          There is at most One Whom we can trust "at all times"?

          0 replies 0 retweets 3 likes
        4. End of conversation

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