Nick Szabo  🔑

@CNNMoney maybe they should write some code to reverse transactions rather than involve law enforcement #ethereum

and 90% of the fraudulent transactions were stopped by the NY Fed.

so similar to how the crypto exchanges were able to freeze the RHG funds until they were cleared.

attempted heist of nearly $1bn was reduced to $81m, mostly by NYFed stopping transactions.

Why did the Bangladesh bank have nearly $1B in its current account? like.. who does that??

. the hackers sent withdrawal requests to the central bank's account with the New York fed.

scarcity is created by demand outpacing supply. Limiting supply masks market equilibrium

demand outstripping supply is technically called a shortage.Scarcity is a natural phenomena.

having a limited supply does not make something inherently scarce. Demand is required.

good point. Even scarce items may not undergo shortages due to lack of demand.

but unlimited items never undergoes shortages, by definition. Demand or not.

True, but unlimited is theoretical.

Really? Ever heard of numbers.

Yes assuming you have infinite time numbers can be unlimited. I didnt assume the double therotical

please define how you intend to use post-scarcity.

"Solar is abundant" until you look at the cost/scarcity of materials required for solar->power

The things most scarce to humans are time&money. Everything else is a trade off of those two.

"locally thinking" yes, but any "productive work" requires tapping into a wider environment.

basic laws of thermodynamics highlight you can only get "something for nothing" locally.

work going on showing why PoW in public network is effective due to law of entropy.