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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. Elaine  🐤 🇮🇨‏Verified account @eiaine 4 Apr 2018
      • Report Tweet

      These mammoth ivory beads from 32,000 BC were only used as a store and display of wealth, not a medium of exchange. Ipso facto, not money.pic.twitter.com/Wi9RBtqysa

      4 replies 3 retweets 41 likes
      Show this thread
    2. David Graeber‏ @davidgraeber 4 Apr 2018
      • Report Tweet
      Replying to @eiaine

      if you want to define money as including anything that's considered valuable, kept around for that reason, and shown off, then sportscars and Picassos are "money" too. I mean fine, if that's what you like, but who actually says that?

      1 reply 0 retweets 6 likes
    3. Elaine  🐤 🇮🇨‏Verified account @eiaine 4 Apr 2018
      • Report Tweet
      Replying to @davidgraeber

      Picassos can certainly serve monetary functions, though it is more common to call them "alternative investments". Sports cars not so much, they lose a chunk of their retail value as soon as you drive em off the lothttps://www.investopedia.com/articles/personal-finance/061815/advantages-investing-art-collectibles.asp …

      1 reply 0 retweets 2 likes
    4. Ruminative Orangutan‏ @Ruminorang 4 Apr 2018
      • Report Tweet
      Replying to @eiaine @davidgraeber

      Isn’t the context how might a money emerge from something that is first a store of value?

      1 reply 0 retweets 1 like
    5. Elaine  🐤 🇮🇨‏Verified account @eiaine 4 Apr 2018
      • Report Tweet
      Replying to @Ruminorang @davidgraeber

      Elaine  🐤 🇮🇨 Retweeted Michael Casey

      the OP was arguing about how "money" originally developed from a medium of exchange. which is true, if you restrict the definition of money to a list of functions served by modern fiathttps://twitter.com/mikejcasey/status/981141578285805569 …

      Elaine  🐤 🇮🇨 added,

      Michael CaseyVerified account @mikejcasey
      Vitalik is absolutely right here. So many "digital gold bugs" in crypto need to read up on what anthropologists have learned about how money developed. It began as a record-keeping device to enable gift exchange and debt-clearing. MoE preceded SoV! https://twitter.com/vitalikbuterin/status/981071033548488704 …
      1 reply 0 retweets 1 like
    6. Elaine  🐤 🇮🇨‏Verified account @eiaine 4 Apr 2018
      • Report Tweet
      Replying to @eiaine @Ruminorang @davidgraeber

      modern money isn't used as a display of wealth, which is why Graeber ridicules the idea that sportscars could be considered money -- even though there have been many civilizations that used displays of wealth as money

      1 reply 0 retweets 2 likes
    7. Ruminative Orangutan‏ @Ruminorang 4 Apr 2018
      • Report Tweet
      Replying to @eiaine @davidgraeber

      I may misunderstand the debate here... a sports car isn’t subdivisible into proportionally valuable pieces? It doesn’t have any traits of high velocity (ironically) money. Good monies are simply useful value proxies that reduce friction in the system... yes?

      2 replies 0 retweets 0 likes
    8. Elaine  🐤 🇮🇨‏Verified account @eiaine 4 Apr 2018
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      Replying to @Ruminorang @davidgraeber

      if "unit of account" is a prerequisite to being money, then a sportscar is terrible money. the functions that money fills today are different from the functions that "money" filled thousands of years ago, which is why ppl have different stories for the origins of money

      1 reply 0 retweets 1 like
    9. Ruminative Orangutan‏ @Ruminorang 4 Apr 2018
      • Report Tweet
      Replying to @TokenHash @eiaine @davidgraeber

      I can buy we were communists in small groups. We know that framework collapses with multiple groups involved, though.

      2 replies 0 retweets 2 likes
      Nick Szabo  🔑‏ @NickSzabo4 4 Apr 2018
      • Report Tweet
      Replying to @Ruminorang @TokenHash and

      Indeed, the evolution of trust-minimized SoV/MoWT heavily involved inter-clan transactions such as paying tribute/reparations, bridewealth, and trade.

      10:43 PM - 4 Apr 2018
      • 2 Likes
      • Elaine 🐤🇮🇨 HALLYU WEBSITE
      0 replies 0 retweets 2 likes

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