Nick Szabo  🔑

Ability to articulate an argument is ancillary. True test of price forecasters is if they survive/profit over the long term acting on their predictions. If a debate arose between heliocentric and "geocentric" astronautical engineer, just see who creates a functional satellite.

I'm respectful of economists if they've even bothered to research Bitcoin's market signal in the past tense: supply, demand, the normal things economists are supposed to research when they see a strong market signal.

Exactly. I've been particularly disappointed in modern Austrian economic scholars who had the tools to understand the emergence of #Bitcoin yet missed the most important monetary innovation in a thousand years (exceptions are you, Saif and Konrad Graf)https://twitter.com/real_vijay/status/1032509406196379648?s=19 …

Early understanding of the value of Bitcoin involved a very rare combination of certain advanced parts of computer science with nondogmatic knowledge of deep monetary history. No surprise this combination was and is scarce in our age of hyperspecialists and ideologues.

Reminds me of this classic passage of yourshttps://twitter.com/real_vijay/status/1160054756649271297?s=19 …

@SallyMayweather

I’ve read Shelling Out but I don’t remember hearing a rebuttal of regression theorem (is that where the link goes?). Regardless, the use-value requirement is well established and necessary to avoid infinite regress.

Wrong. This is dogma gone amok. This is why dogmatists can never understand money or Bitcoin. It's like insisting that an insurance contract must be useful as something else, maybe for wiping your butt, before it can be useful as an insurance contract. It's idiotic.