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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 Aug 2
      • Report Tweet
      Replying to @_RyanCalder @ArcaChemist and

      Layer 1 is a settlement layer, its trust minimization akin to gold but able to be settled online. Layer 2 is retail cash (among other applications). This falls out of the computer science and trust minimization being the essential top priority for a seamlessly global currency.

      18 replies 98 retweets 415 likes
    2. NYCPunter‏ @NYCPunter Aug 2
      • Report Tweet
      Replying to @NickSzabo4 @saifedean and

      Amazing that most people in the space haven't figured this out already, as many prominent figures have posited this for quite some time now. Bitcoin has a greater destiny than buying Starbucks. That narrative died in dec 2017.

      2 replies 0 retweets 19 likes
    3. Nick Szabo  🔑‏ @NickSzabo4 Aug 2
      • Report Tweet
      Replying to @NYCPunter @saifedean and

      Bitcoin is to protect your wealth, bitcoin (layer 2) is for the coffee.

      13 replies 100 retweets 506 likes
    4. Sasha Fleyshman‏ @ArcaChemist Aug 2
      • Report Tweet
      Replying to @NickSzabo4 @NYCPunter and

      Layer 1 - Savings Layer 2 - Checking If you believe in the potential of LN, which I do at this point in time, its a fair argument to make that when you take your BTC off L1-->L2 to spend you are essentially moving wealth from savings-->checking. Not 1:1 comparison, but helps IMO

      8 replies 1 retweet 35 likes
    5. John Carvalho‏ @BitcoinErrorLog Aug 2
      • Report Tweet
      Replying to @ArcaChemist @NickSzabo4 and

      This is still somewhat analogy-fitting. We don't *have* to use analogies to define thing y'know. Bitcoin is an invention, not an iteration.

      2 replies 0 retweets 18 likes
    6. Sasha Fleyshman‏ @ArcaChemist Aug 2
      • Report Tweet
      Replying to @BitcoinErrorLog @NickSzabo4 and

      Yes, but it helps those who aren't quite able to grasp it. Laymen's terms help - not for us, but for those not in the space or for those that have a hard time conceptualizing the potential. Not direct comparison, just helps ELI5 to a parent or friend. Have to include them too!

      1 reply 0 retweets 13 likes
    7. John Carvalho‏ @BitcoinErrorLog Aug 2
      • Report Tweet
      Replying to @ArcaChemist @NickSzabo4 and

      The analogies slow the public understanding and our own ability to teach it mostly... Causes us to mis-label things. Why did we stop calling it a public ledger? L1 = worldwide ledger, slow/expensive to update. L2 = localized ledger cache, fast/cheap to update

      4 replies 1 retweet 22 likes
    8. Sasha Fleyshman‏ @ArcaChemist Aug 2
      • Report Tweet
      Replying to @BitcoinErrorLog @NickSzabo4 and

      Interesting point. I have always found that laymen's terms has helped my base level understanding (especially in Chemistry, very hard to understand things sometimes). I may have projected my personal learning style a bit. Will chew on that for the future

      2 replies 0 retweets 15 likes
    9. Eric Lombrozo‏Verified account @eric_lombrozo Aug 2
      • Report Tweet
      Replying to @ArcaChemist @BitcoinErrorLog and

      You seem to be thinking more in terms of enduser usage patterns while @BitcoinErrorLog is thinking more in terms of network architecture. It can be dangerous to take analogies too literally, though.

      3 replies 0 retweets 17 likes
    10. Adam Back‏ @adam3us Aug 2
      • Report Tweet
      Replying to @eric_lombrozo @ArcaChemist and

      you could think of lightning as a network cache, analogous to a write back disk cache. (meaning delayed write, lots of write shadowing where things are netted out or overwritten in the cache).

      1 reply 0 retweets 30 likes
      Nick Szabo  🔑‏ @NickSzabo4 Aug 2
      • Report Tweet
      Replying to @adam3us @eric_lombrozo and

      You could, and for a computer science audience it helps to shed some light, but it also takes the metaphors deeper into professional jargon territory, in a direction opposite that of public understanding.

      10:34 PM - 2 Aug 2019
      • 2 Retweets
      • 42 Likes
      • Rodrigo Dan Darius Jermeh☣️ [Google: "The Cantillon Effect"] Jay Dugger Hugo Nguyen Playful12 NYCPunter Triple Cake Smack Damian Mee 😷 [🇭🇰♥️Hong Kong] steph
      3 replies 2 retweets 42 likes
        1. New conversation
        2. Ryan Calder‏ @_RyanCalder Aug 2
          • Report Tweet
          Replying to @NickSzabo4 @adam3us and

          It's a good time, better than any other, for public understanding to migrate its direction towards computer science.

          1 reply 0 retweets 5 likes
        3. Nick Szabo  🔑‏ @NickSzabo4 Aug 2
          • Report Tweet
          Replying to @_RyanCalder @adam3us and

          That would be nice, but highly unlikely alas.

          3 replies 0 retweets 12 likes
        4. John Carvalho‏ @BitcoinErrorLog Aug 3
          • Report Tweet
          Replying to @NickSzabo4 @_RyanCalder and

          Expect more from humans, they have an uncanny ability to rise to the occasion. If the information is worth sharing, that's the curation part, not in predicting whether the audience will accept it.

          0 replies 0 retweets 11 likes
        5. End of conversation
        1. New conversation
        2. Adam Back‏ @adam3us Aug 2
          • Report Tweet
          Replying to @NickSzabo4 @eric_lombrozo and

          yes that only really helps IT savvy or programmers, comp-sci people. but for them it's a fast way to transfer intuition of whats going on. (plus the base-layer as automated arbitration of conflicting write-shadow claims).

          1 reply 0 retweets 16 likes
        3. 1 more reply
        1. Thriller Crypto‏ @ThrillerPodcast Aug 3
          • Report Tweet
          Replying to @NickSzabo4 @adam3us and

          I've come to find you have to explain things separately in small chunks. Give a broad technical description to the listener then breakdown each chunk like an inch deep. Over time they will understand if they choose to listen.

          0 replies 0 retweets 1 like
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