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Shallow safety vs. deep safety: Shallow: estimated from volatility, assumes nothing goes wrong at lower layers of the protocol stack Deep: what happens to your assets upon underlying failures? e.g. how would your digitally centralized assets fare against sanctions or cyberwar?
Digitally centralized assets have poor deep safety. They were designed in & only work in a legally stable environment. Real estate & gold have deeper safety, assuming strong local security. Trust-minimized Bitcoin uses computer science to achieve unprecedentedly deep safety.
Digital centralization has made it possible, for the first time in history, for authorities to routinely extract haircuts and "negative interest". Some countries in Europe have already used these techniques against digitally centralized cash balances.
At the behest of political activists, digitally centralized financial services have frozen accounts and cut off access to a wide variety of people based on their political views.
In a deep or prolonged recession, attacks by technocratic authorities & political activists against digitally centralized assets will increase in volume & scope. Other forms of political or legal instability could also lower the safety of digitally centralized assets.
One can think of shallow safety as the technical analysis of safety based on technical factors such as price volatility. Deep safety is a fundamental analysis of the underlying technological, political, and legal environments which actually control the assets.
Deep safety varies greatly between different people & organizations. Risks to digitally centralized property vary greatly between different people & organizations & their different political & legal environments. Price movements don't tell you much about your particular safety.
A #fullydecentralized exchange provides #deepsafety
no risk of losing funds due to a 51% attack or network failure
#interoperabilityplatforms provide #shallowsafety
the networks control users’ 
s and are vulnerable to #deepsafety threatshttps://twitter.com/nickszabo4/status/1162743096821469184?s=21 …
I believe Schmitt’s essay The Tyanny of Values has an excellent answer to this question. As the topology of war itself becomes more digitized, cryptography postulates itself as a radical tool for deep safety in a world where law itself can no longer guarantee such things.
This is the type of content I’m here for! 
What if quantum computing becomes a thing and can break any crypto? Could BTC still exist?
Quantum computers are already a thing. They will be able to break RSA/ECDSA style digital signature algorithms in a few short years. That's why we built Mochimo. Incidentally, you don't have to break a lot of BTC addresses to set off a sell-off deathspiral for BTC. Just one.
Most crypto pepple assume deep safety from shallow safety assets, because Bitcoin. Sold a lie based on the unflinching characteristics of Bitcoin, and assume that “blockchain” is the reason it holds true to other assets.pic.twitter.com/IhHXHd5ATc
Bang on. The depth of safety in #bitcoin requires (worthwhile) effort to peel back and understand; to those skimming pebbles on the surface the ponds look the same.. but are most definitely not.
Implied also deep conceptual gap between High & Low time preferences "Still waters run deep"
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Bonjour the unroll you asked for: Thread by @NickSzabo4: "Shallow safety vs. deep safety: Shallow: estimated from volatility, assumes nothing goes wrong at lower layers of the pr […]" https://threadreaderapp.com/thread/1162743096821469184.html …
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Your digitally centralized assets would be easier to confiscate than gold was, thus increasing the temptation for people in power to do so. Essentially low hanging fruit for governments.https://twitter.com/huobi/status/1151210642969436160?s=21 …
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