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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. zooko‏ @zooko 30 Sep 2014
      • Report Tweet

      Here's what @NickSzabo4 wrote contra David Graeber, five years before "Debt: The First 5000 Years": http://unenumerated.blogspot.com/2006/06/menger-on-money-right-and-wrong.html …

      2 replies 10 retweets 19 likes
    2. Andrew Miller  🦓 🦓 🦓‏ @socrates1024 1 Dec 2014
      • Report Tweet
      Replying to @zooko

      @zooko @NickSzabo4 @iang_fc @oleganza A key point from Graeber (and Mauss): transactions don't "complete", they have lingering expectations

      1 reply 0 retweets 1 like
    3. Nick Szabo  🔑‏ @NickSzabo4 1 Dec 2014
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      Replying to @socrates1024

      @socrates1024 @zooko @iang_fc @oleganza Key point they miss: lingering expectations are error-prone, debatable, risky, costly.

      4 replies 0 retweets 0 likes
    4. Andrew Miller  🦓 🦓 🦓‏ @socrates1024 1 Dec 2014
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      Replying to @NickSzabo4

      @NickSzabo4 @zooko @iang_fc @oleganza Sure, but a) they're prevalent, b) they aren't obviated by money, rather by contract enforcement

      1 reply 0 retweets 0 likes
    5. Nick Szabo  🔑‏ @NickSzabo4 1 Dec 2014
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      Replying to @socrates1024

      @socrates1024 @zooko @iang_fc @oleganza They are greatly reduced by substituting collectibles/money-for-services/goods txs for in-kind debt.

      1 reply 0 retweets 0 likes
    6. Nick Szabo  🔑‏ @NickSzabo4 1 Dec 2014
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      Replying to @NickSzabo4

      @socrates1024 @zooko @iang_fc @oleganza Enforcement of in-kind contracts expensive: value of apples vs. back-scratches --> huge debates.

      1 reply 0 retweets 0 likes
    7. Andrew Miller  🦓 🦓 🦓‏ @socrates1024 1 Dec 2014
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      Replying to @NickSzabo4

      @NickSzabo4 @zooko @iang_fc @oleganza This supports Graeber: origin of money is to simplify "wet" credit, vs. to simplify barter

      1 reply 0 retweets 0 likes
      Nick Szabo  🔑‏ @NickSzabo4 1 Dec 2014
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      Replying to @socrates1024

      @socrates1024 @zooko @iang_fc @oleganza You mean Graeber supports me? I wrote first. BTW it happened 10,000s of years before Sumer.

      10:05 AM - 1 Dec 2014
      • 1 Like
      • Hugo Volz Oliveira
      1 reply 0 retweets 1 like
        1. New conversation
        1. Andrew Miller  🦓 🦓 🦓‏ @socrates1024 1 Dec 2014
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          Replying to @NickSzabo4

          @NickSzabo4 @iang_fc Agreed :) I'm reacting to @zooko and @oleganza who seem to suggest you and Graeber offer opposing arguments

          1 reply 0 retweets 0 likes
        2. Nick Szabo  🔑‏ @NickSzabo4 1 Dec 2014
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          Replying to @socrates1024

          @socrates1024 @iang_fc @zooko @oleganza Graeber greatly underestimates tx costs of in-kind reciprocation & falsely excludes earlier money.

          2 replies 0 retweets 2 likes
        3. Nick Szabo  🔑‏ @NickSzabo4 1 Dec 2014
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          Replying to @NickSzabo4

          @socrates1024 @iang_fc @zooko @oleganza A Graeber society would be endless debates & wars over how many back-scratches per apple.

          0 replies 0 retweets 3 likes
          4. End of conversation

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