Nick Szabo  🔑

@el33th4xor @adam3us @petertoddbtc Fully trusting N>1 is worse than fully trusting 1 for thing trusted.

@el33th4xor @adam3us @petertoddbtc Fully trusting w/money == banks need to secure some other way: protocol itself not providing security.

.@NickSzabo4 @el33th4xor @adam3us Yep, because banks are fundamentally a human UI for money. They have to. Aunt Tillie's security sucks.

@NickSzabo4 @el33th4xor @adam3us You will only eliminate ID when you eliminate humans. :) ID is an imperfect, human-human shortcut UI.

@jgarzik @el33th4xor @adam3us Bitcoin already eliminated need for IDs to issue & pay money. Block chain can do for many other txs also.

@NickSzabo4 @el33th4xor @adam3us That covers discrete money xfer but not secure storage for non-technical users.

@jgarzik @el33th4xor @adam3us A user-friendly hardware wallet doesn't require an ID.

@NickSzabo4 @el33th4xor @adam3us It does however require physical security of tiny, easily stolen/lost h/w device. People want help w/ sec.