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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. nic carter‏ @nic__carter Aug 14
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      My view on wealth concentration - bitcoin is an emerging monetary system, it started with a GINI of 1 and decreases over time - 'fairdrops' don't work; see the voucher programs in the USSR - the best thing you can hope for is equality of opp. and no seignorage (bitcoin has both)

      26 replies 112 retweets 440 likes
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    2. nic carter‏ @nic__carter Aug 14
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      - long term holders sell out as their wealth increases. this is empirically observable in Bitcoin (@unchainedcap's Hodl waves analysis makes this point) - this is a natural and organic force which disperses supply

      3 replies 12 retweets 118 likes
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    3. nic carter‏ @nic__carter Aug 14
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      - wealth concentration is something to worry about if wealth can be transformed into political power, because you kick off a feedback loop of wealth -> power -> discretion over system features -> more wealth - luckily, bitcoin manifestly does NOT care if you are wealthy

      7 replies 28 retweets 152 likes
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    4. Elaine  🐤 🇮🇨‏Verified account @eiaine Aug 14
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      Replying to @nic__carter @unchainedcap

      what about the fact that coinbase has 10% of all bitcoin in circulation? wealth != power the way it is in the US, buuut exchanges did have significant influence over ETH vs ETC.

      1 reply 0 retweets 5 likes
    5. Elaine  🐤 🇮🇨‏Verified account @eiaine Aug 14
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      Replying to @eiaine @nic__carter @unchainedcap

      If coinbase listed bcash as "bitcoin" and delisted bitcoin (BTC), most of their customers prob would not have understood the difference

      2 replies 1 retweet 11 likes
      Nick Szabo  🔑‏ @NickSzabo4 Aug 14
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      Replying to @eiaine @nic__carter @unchainedcap

      Yet another good reason why proof-of-work is superior to proof-of-stake.

      2:10 PM - 14 Aug 2019
      • 2 Retweets
      • 19 Likes
      • Emanuell Tomes Spookyvier Bastarboo 🎃🦡👻 Christian Lopez Sean Erle Johnson Chris Hitchcott Eric Martindale [₿] Mike Cautillo Praxis Riding Unicorns to the Moon
      2 replies 2 retweets 19 likes
        1. Matthew Fox‏ @matthewfox_2 Aug 15
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          Replying to @NickSzabo4 @eiaine and

          Trusted Third Parties are Subjectivity Mounds

          0 replies 0 retweets 1 like
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