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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 17
      • Report Tweet

      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?

      22 replies 271 retweets 923 likes
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    2. Nick Szabo  🔑‏ @NickSzabo4 Aug 17
      • Report Tweet

      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.

      17 replies 109 retweets 441 likes
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    3. Nick Szabo  🔑‏ @NickSzabo4 Aug 17
      • Report Tweet

      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.

      4 replies 30 retweets 184 likes
      Show this thread
    4. Nick Szabo  🔑‏ @NickSzabo4 Aug 17
      • Report Tweet

      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.

      4 replies 27 retweets 195 likes
      Show this thread
      Nick Szabo  🔑‏ @NickSzabo4 Aug 17
      • Report Tweet

      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.

      9:12 AM - 17 Aug 2019
      • 43 Retweets
      • 244 Likes
      • CandidSkeptic Thεο "bonded courier" Bryan Roller Man₿yt tradingbawz clessidra865@mariacristina arezzi ɃRAJ BitcoinTina☣️- "TINA" (There is no Alternative) Barry
      10 replies 43 retweets 244 likes
        1. New conversation
        2. Nick Szabo  🔑‏ @NickSzabo4 Aug 17
          • Report Tweet

          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.

          9 replies 26 retweets 179 likes
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        3. Nick Szabo  🔑‏ @NickSzabo4 Aug 25
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          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.

          5 replies 5 retweets 35 likes
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        4. End of conversation
        1. New conversation
        2. George‏ @Gkaros27 Aug 18
          • Report Tweet
          Replying to @NickSzabo4

          Nick would you consider bitcoin held on an exchange just another form of a digital centralized asset with shallow safety? But what about bitcoin held in a wallet like Bitgo? Would that be shallow safety too? What’s the best way to achieve deep safety while holding your bitcoin?

          1 reply 0 retweets 0 likes
        3. Nick Szabo  🔑‏ @NickSzabo4 Aug 19
          • Report Tweet
          Replying to @Gkaros27

          Crypto kept on a centralized exchange has even worse deep safety than that of digital centralization in the financial industry.

          0 replies 3 retweets 9 likes
        4. End of conversation
      1. This Tweet is unavailable
        1. Brandon Ramirez‏ @RezBrandon Aug 17
          • Report Tweet
          Replying to @NickSzabo4

          In your opinion, how robust is something like Bitcoin against a whitelist-based version of the Great Firewall of China? Is the idea that more robust network layers (satellite, mesh, black market fiber across national borders, etc.) will arise that make this less of a concern?

          0 replies 0 retweets 0 likes
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        1. Crypto Millionaire App‏ @eagletwitt3r Aug 25
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          Replying to @NickSzabo4 @Bitcoin

          AKA: Libra is toast in a recession

          0 replies 0 retweets 0 likes
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        1. Joe Kelly‏ @joekelly100 Aug 17
          • Report Tweet
          Replying to @NickSzabo4

          Terrifying. Do you know of any solutions which don’t coincide with its advocates becoming super rich if/when it gets implemented? Your coverage is one-sided, never sincerely addressing any of the risks associated with Bitcoin; only its theoretical benefits vs. status quo.

          0 replies 0 retweets 2 likes
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        1. Peter Richards (IOTA) (HOLO) (HEAT) - DLT NOVICE‏ @PeterRi73428925 Aug 24
          • Report Tweet
          Replying to @NickSzabo4

          Peter Richards (IOTA) (HOLO) (HEAT) - DLT NOVICE Retweeted Peter Richards (IOTA) (HOLO) (HEAT) - DLT NOVICE

          https://twitter.com/PeterRi73428925/status/1165488427149578240?s=20 …

          Peter Richards (IOTA) (HOLO) (HEAT) - DLT NOVICE added,

          Peter Richards (IOTA) (HOLO) (HEAT) - DLT NOVICE @PeterRi73428925
          Replying to @PeterRi73428925 @heatcrypto
          @ChicoCrypto study this to stop centralised exchanges destroying the crypto industry. Decentralised wallet and DEX with the coins added to the wallet able to use their "specialised features" @heatcrypto would be nice to list some features examples!
          0 replies 0 retweets 0 likes
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