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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. cheaprentalyeti‏ @cheaprentalyeti Aug 24
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      1/1 The piece I linked to earlier about Chinese currency manipulation. I had a thought about Libra. Bitcoin doesn't have to deal with that sort of foreign currency exchange rate stuff because it doesn't try to solve the problem of the international currency system. Libra does.

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    2. cheaprentalyeti‏ @cheaprentalyeti Aug 24
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      2/1 (argh!) Anyway, imagine being the VP of Libra in charge of Currency Enchange rates, staying up all night to see what sudden surprises Emperor Pooh-Bear or President Trump or whoever's driving events are going to do this week, and are your mental models sufficent to the task?

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    3. cheaprentalyeti‏ @cheaprentalyeti Aug 24
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      Bitcoin doesn't 'solve' that problem because it hasn't committed to trying to solve that problem. Libra _has_ to deal with The Two Yuans, the Bolivar, the Bolivian Peso, what's happening in Argentina this week...

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      Nick Szabo  🔑‏ @NickSzabo4 Aug 24
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      Replying to @cheaprentalyeti

      In other words, they are trying to solve a problem that is cognitively and computationally unsolvable, for among other reasons because it involves knowledge they don't actually have. h/t Friedrich Hayek

      8:55 AM - 24 Aug 2019
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