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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 Sep 9
      • Report Tweet
      Replying to @adam3us @iang_fc @bitcoin_bolsa

      And indeed governance minimization, via substituting security protocol for governance wherever possible, is why Bitcoin's market cap dwarfs that of any altcoin, and especially dwarfs the "governance-uber-alles" shitcoins.

      3 replies 6 retweets 76 likes
    2. iang‏ @iang_fc Sep 9
      • Report Tweet
      Replying to @NickSzabo4 @adam3us @bitcoin_bolsa

      yet, the EOS experiment removed its governance and reduced its market cap. So, no, no causality seen here, move on please.

      2 replies 0 retweets 7 likes
    3. Ciarán Murray‏ @C1aranMurray Sep 9
      • Report Tweet
      Replying to @iang_fc @NickSzabo4 and

      The optimal strategy probably looks something like this. https://vitalik.ca/general/2018/08/26/layer_1.html … There's definitely a happy medium (in the abyss) between governance-uber-alles and completely ignoring research breakthroughs in security/scaling optimisations.

      1 reply 0 retweets 2 likes
    4. Adam Back‏ @adam3us Sep 9
      • Report Tweet
      Replying to @C1aranMurray @iang_fc and

      Most of the practical, secure and dependable scaling applied research is actually happenig in Bitcoin, or blue sky cryptography research, unrelated to alts

      1 reply 0 retweets 7 likes
    5. Ciarán Murray‏ @C1aranMurray Sep 9
      • Report Tweet
      Replying to @adam3us @iang_fc and

      Such as? (and how can it be implemented if you've outright rejected governance as you say above)

      1 reply 0 retweets 1 like
    6. Adam Back‏ @adam3us Sep 9
      • Report Tweet
      Replying to @C1aranMurray @iang_fc and

      oh ic you mean change. maybe this is a good place to start about change process for FOSS, IETF and Bitcoin "The Tao of Bitcoin Development" https://medium.com/@bergealex4/the-tao-of-bitcoin-development-ff093c6155cd … no governance does not mean no change. governance in crypto lingo means human discretion over economic policy.

      3 replies 2 retweets 13 likes
    7. Adam Back‏ @adam3us Sep 9
      • Report Tweet
      Replying to @adam3us @C1aranMurray and

      no governance does not mean not fixing a bug, not implementing win-win improvements, in a backwards compatible way that does not impinge on anyone's ownership, functionality, nor supply etc. @bergealex4 see also this talk on the topic by @LukeDashjrhttps://www.youtube.com/watch?v=F8Onzq46YZg …

      2 replies 0 retweets 13 likes
    8. Douglas Horn‏ @Douglas_Horn Sep 11
      • Report Tweet
      Replying to @adam3us @C1aranMurray and

      "Governance" is the process of how rules are made, changed and implemented. Since these things occur in the bitcoin protocol, it has governance. Applying very narrow definitions outside the norms hampers meaningful discourse.

      3 replies 0 retweets 5 likes
    9. Nick Szabo  🔑‏ @NickSzabo4 Sep 11
      • Report Tweet
      Replying to @Douglas_Horn @adam3us and

      Nick Szabo  🔑 Retweeted Nick Szabo  🔑

      Rather than literally zero governance Adam perhaps means that Bitcoin governance is something like choice (3) below.https://twitter.com/NickSzabo4/status/1009996445280169985 …

      Nick Szabo  🔑 added,

      Nick Szabo  🔑 @NickSzabo4
      "Blockchain governance" generally comes in only three varieties: (1) Lord of the Flies, (2) lawyers, or (3) ruthlessly minimized.
      5 replies 1 retweet 16 likes
    10. John W.  🇮🇪 🇺🇸 🇪🇸 🇪🇺‏ @_JohnWhelan Sep 11
      • Report Tweet
      Replying to @NickSzabo4 @Douglas_Horn and

      The problem with #3 is that at some point it gets hard to distinguish "ruthlessly minimized" from centralized dictatorial control.

      2 replies 0 retweets 0 likes
      Nick Szabo  🔑‏ @NickSzabo4 Sep 11
      • Report Tweet
      Replying to @_JohnWhelan @Douglas_Horn and

      How so? What is an example of where such confusion might arise?

      11:53 AM - 11 Sep 2019
      • 1 Like
      • Riding Unicorns to the Moon
      2 replies 0 retweets 1 like
        1. New conversation
        1. John W.  🇮🇪 🇺🇸 🇪🇸 🇪🇺‏ @_JohnWhelan Sep 11
          • Report Tweet
          Replying to @NickSzabo4 @Douglas_Horn and

          The is implication of the term "ruthless minimization" taken to the extreme leads to control by a single person/entity or tiny group of individuals. That's what it says to me anyway.

          2 replies 0 retweets 0 likes
        2. Nick Szabo  🔑‏ @NickSzabo4 Sep 11
          • Report Tweet
          Replying to @_JohnWhelan @Douglas_Horn and

          That's quite an imagination you have. No, it's about what beliefs among the decentralized devs and node operators will produce the most trust-minimized outcomes. When these decentralized decision-makers believe in ruthlessly minimizing the number of decisions they need to make.

          1 reply 0 retweets 1 like
        3. John W.  🇮🇪 🇺🇸 🇪🇸 🇪🇺‏ @_JohnWhelan Sep 11
          • Report Tweet
          Replying to @NickSzabo4 @Douglas_Horn and

          Your definition provides some clarity behind what you were thinking. Taken by itself it is not a stretch to imagine "ruthless minimization" leading to centralized control of something.

          1 reply 0 retweets 1 like
        4. Nick Szabo  🔑‏ @NickSzabo4 Sep 11
          • Report Tweet
          Replying to @_JohnWhelan @Douglas_Horn and

          It seems a stretch to me, but thank you for the opportunity to clarify.

          0 replies 0 retweets 2 likes
          5. End of conversation
        1. Douglas Horn‏ @Douglas_Horn Sep 11
          • Report Tweet
          Replying to @NickSzabo4 @_JohnWhelan and

          Isn't this thread an example?

          0 replies 0 retweets 0 likes
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