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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. Sasha Fleyshman‏ @ArcaChemist Aug 2
      • Report Tweet

      cc: @danheld @100trillionUSD @BitcoinErrorLog @APompliano @lopp @udiWertheimer @saifedean @SatoshiLite @aantonop among others. Respect your thoughts in the space and would love to hear you opine on what seems to be a continuous debate on irrelevant points.

      6 replies 2 retweets 21 likes
      Show this thread
    2. Ryan Calder‏ @_RyanCalder Aug 2
      • Report Tweet
      Replying to @ArcaChemist @danheld and

      I'd love to hear @CaitlinLong_ @TraceMayer @CathieDWood @AriannaSimpson @NickSzabo4 @eric_lombrozo @adam3us @DHannum8 too if possible

      2 replies 0 retweets 9 likes
    3. 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
    4. 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
    5. 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
    6. 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
    7. NYCPunter‏ @NYCPunter Aug 2
      • Report Tweet
      Replying to @ArcaChemist @NickSzabo4 and

      When you truly have it rationalized, you will never consider the idea of "spending" Bitcoin. You're on the right track in many regards, IMHO.

      1 reply 0 retweets 1 like
    8. John Carvalho‏ @BitcoinErrorLog Aug 2
      • Report Tweet
      Replying to @NYCPunter @ArcaChemist and

      Bitcoin is useless if you can't spend it. It is quite literally for storing and spending. Why do people store value? To spend it.

      3 replies 0 retweets 6 likes
    9. Sasha Fleyshman‏ @ArcaChemist Aug 2
      • Report Tweet
      Replying to @BitcoinErrorLog @NYCPunter and

      Sasha Fleyshman Retweeted Sasha Fleyshman

      I think his point has some merit in the short term. If I am of the belief that $BTC will continue to accrue value at a rapid pace, as it has not yet become a unified money, I am disincentivized to spending it. I go into why I think we should spend it here:https://twitter.com/ArcaChemist/status/1156409635466649606 …

      Sasha Fleyshman added,

      Sasha Fleyshman @ArcaChemist
      What would be one product that is currently missing from the #cryptocurrency space that you would love to see? For me, it would be @Trezor partnering with a Visa/Mastercard provider that allows me to spend #Bitcoin I think HODL is a nice idea, but there is a bigger picture 1/x
      Show this thread
      2 replies 0 retweets 3 likes
    10. NYCPunter‏ @NYCPunter Aug 2
      • Report Tweet
      Replying to @ArcaChemist @BitcoinErrorLog and

      Given a choice, all societies will spend in a soft currency and save in a hard one. This is at the crux of what we are trying to do. The tipping point where all realize that an exit of inflationary & arbitrarily printed currencies is not only inevitable, but required for survival

      1 reply 0 retweets 5 likes
      Nick Szabo  🔑‏ @NickSzabo4 Aug 2
      • Report Tweet
      Replying to @NYCPunter @ArcaChemist and

      That presumes it is easy and very low cost to convert between the two currencies, but it may often not be.

      10:36 PM - 2 Aug 2019
      • 7 Likes
      • lotuspherical🌎 AgoristView ⚡️ Conrad Hayek CornMiner 🌽⛓⛏ Riding Unicorns to the Moon NYCPunter Giacomo Zucco [I identify as a -e^iπ vampire]
      2 replies 0 retweets 7 likes
        1. New conversation
        2. Sasha Fleyshman‏ @ArcaChemist Aug 2
          • Report Tweet
          Replying to @NickSzabo4 @NYCPunter and

          Well, currently you can use a BitPay or some other form of payment processor that lets you spend BTC, uses a PoS terminal to convert to USD, and output to receiver as USD. You hold BTC and spend BTC the whole time, but the other side accepts fiat. Not perfect, but not terrible.

          2 replies 0 retweets 1 like
        3. Nick Szabo  🔑‏ @NickSzabo4 Aug 2
          • Report Tweet
          Replying to @ArcaChemist @NYCPunter and

          Those are fragile trusted third parties, not things we can reliably expect to be around in bad legal or political environments.

          1 reply 1 retweet 14 likes
        4. Sasha Fleyshman‏ @ArcaChemist Aug 2
          • Report Tweet
          Replying to @NickSzabo4 @NYCPunter and

          Yep - not perfect. But for now, it is what is offered. The whole taxable event dilemma also throws a wrench in the mix (if you're in the US). Too many hoops to jump through currently. The space is young - it will evolve as it sees fit. Natural order of things.

          0 replies 0 retweets 2 likes
        5. End of conversation
        1. Master ⚡️100k/2.5k BTC/LTC 2021‏ @masterbtcltc Aug 2
          • Report Tweet
          Replying to @NickSzabo4 @NYCPunter and

          Converting between bitcoin and litecoin is easy #ltc #litecoin #bitcoin #btc

          0 replies 0 retweets 0 likes
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