Nick Szabo  🔑

We can all sleep better now -FinCEN recently launched a series of examinations of cryptocurrency businesses http://bit.ly/1FVzi1O  #bitcoin

@prestonjbyrne @haydentiff @iang_fc No. Consumer PKI has same problem which is why we don't have many client certificates in decades of PKI.

@prestonjbyrne @haydentiff @iang_fc Identity is local, insecure, and labor-intensive. Block chain is global, secure, and automated.

@NickSzabo4 @prestonjbyrne @haydentiff @iang_fc Don't forget "massively inefficient".

@jackgavigan @nickszabo4 @prestonjbyrne @haydentiff Which? both blockchain and today's identity could be considered massively inefficient …

@iang_fc @JackGavigan @prestonjbyrne @haydentiff Labor costs are far higher than computational costs, and the gap widens each year.

@nickszabo4 @jackgavigan @prestonjbyrne @haydentiff Concur. Which is why cost must be placed with users, DIY.