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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 14 Oct 2018
      • Report Tweet

      Nick Szabo  🔑 Retweeted Timón

      "Smart contract" is a very useful concept & phrase. "Smart" as in "smart phone" (shorthand for computerized phone), "contract" meaning it does some important things we previously relied on contracts to do for our deals, especially controlling assets & incentivizing performance.https://twitter.com/timoncc/status/1051420695488552960 …

      Nick Szabo  🔑 added,

      Timón @timoncc
      Replying to @BitcoinErrorLog @VitalikButerin and 6 others
      I find atomic swaps ir lightning payment channels pretty smart, and quite similar to a traditional contract, just with no law or judge beyond the blockchain's.
      9 replies 57 retweets 212 likes
      Show this thread
    2. Nick Szabo  🔑‏ @NickSzabo4 14 Oct 2018
      • Report Tweet

      That said, if your dApp/persistent script doesn't control assets or, short of invoking traditional law, incentivize performance, it's not a smart contract and you should call it something else.

      5 replies 31 retweets 104 likes
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    3. Nick Szabo  🔑‏ @NickSzabo4 14 Oct 2018
      • Report Tweet

      Worrying about whether a smart contract is "legally enforceable" reflects a profound misunderstanding. The main relation of smart Ks to traditional courts is that smart Ks control burden of lawsuit. If "possession is 90% of the law", then a good smart K may be "99% of the law".

      15 replies 62 retweets 181 likes
      Show this thread
    4. Nick Szabo  🔑‏ @NickSzabo4 Sep 5
      • Report Tweet

      Nick Szabo  🔑 Retweeted Nick Szabo  🔑

      https://twitter.com/NickSzabo4/status/810371898739662849 …

      Nick Szabo  🔑 added,

      Nick Szabo  🔑 @NickSzabo4
      "Are smart contracts enforceable?" is a circus show. Smart Ks relate to traditnl law by controlng burden of lawsuit. http://unenumerated.blogspot.com/2006/05/security-and-burden-of-lawsuit.html …
      1 reply 4 retweets 12 likes
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    5. Ruminative Orangutan‏ @Ruminorang Sep 5
      • Report Tweet
      Replying to @NickSzabo4

      Is ‘Burden of lawsuit’ a technical term?

      1 reply 0 retweets 0 likes
      Nick Szabo  🔑‏ @NickSzabo4 Sep 5
      • Report Tweet
      Replying to @Ruminorang

      It's a common sense idea: if one person has control over something, then another person who wants to obtain control via traditional law has the burden of filing a lawsuit or of otherwise convincing legal authorities that said control should be changed.

      4:19 PM - 5 Sep 2019
      • 2 Retweets
      • 3 Likes
      • Riding Unicorns to the Moon BigD103 Donald McIntyre ☣️🗑️
      0 replies 2 retweets 3 likes

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