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hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

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Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

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    1. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

      1/ I find it’s hilarious that people demand @SatoshiLite hold on to his litecoins, some even suggest locking his litecoins in a Trust. I’m going to explain why this is not a wise idea.

      54 replies 162 retweets 631 likes
      Show this thread
    2. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

      2/ Money only works as an incentive up to a certain extent. If you are broke and someone offers you a chance to earn a million dollar, you would die for that chance. Otoh, if you already are a multimillionaire, would you be swayed by such a chance? It depends.

      3 replies 8 retweets 97 likes
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

      3/ You have other things to consider if you’re already loaded, such as reputation or personal moral values. It might not be worth it. So Point 1: the effect of money works differently on different people.

      2 replies 7 retweets 105 likes
      Show this thread
    4. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

      4/ Historically, using equity as incentive also created some messed up situations where CEOs lied / practiced financial shenanigans (eg: https://hbr.org/2014/09/profits-without-prosperity …) so that they can manipulate short term stock price for their own benefits.

      2 replies 7 retweets 100 likes
      Show this thread
    5. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

      5/ We’ve seen the same phenomenon in crypto, many altcoin creators engage in heavy pump & marketing schemes, despite a shitty technical foundation. They don’t care about long term success, only short term gains.

      2 replies 10 retweets 99 likes
      Show this thread
      Hugo Nguyen‏ @hugohanoi 21 Dec 2017

      6/ So Point 2: having money as the primary motivator does not always produce the desired outcome. Even in the corporate world, the effectiveness of stock compensation package as an interest alignment mechanism is questionable.

      7:00 AM - 21 Dec 2017
      • 5 Retweets
      • 91 Likes
      • Tony Casey🇺🇸 Baymax [BTC⚡️ŁTC] Dave Fleming ⚡ShowMeTheŁites⚡ Crooklyncat 👹 Corin Michael Johnson Dadda™ SatoshisMatter⚡️
      1 reply 5 retweets 91 likes
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

          7/ Point 3: this is a decentralized movement, remember? Demanding some central figure to own coins so that the decentralized movement could live on... it’s quite ironic.

          4 replies 14 retweets 179 likes
          Show this thread
        3. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

          8/ Point 4: even if having the creator owning coins is desirable, it is impossible to verify & enforce. Unlike stock trading, there are so many ways to acquire or unload coins anonymously & indirectly.

          2 replies 5 retweets 75 likes
          Show this thread
        4. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

          9/ Charlie could have zero litecoins before yesterday. He could still own a million coins today. He could short LTC without touching his coins in the Trust. How the hell would you know?

          2 replies 6 retweets 90 likes
          Show this thread
        5. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

          10/ Last but not least: There are better ways to align incentives than using money.

          1 reply 5 retweets 69 likes
          Show this thread
        6. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

          11/ Why was stock compensation package necessary to begin with? because modern CEOs come from the outside & are typically not the original founders, so you need an extra motivator for them. But if the CEO *is* the founder, you don’t need an extra motivator.

          1 reply 7 retweets 85 likes
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        7. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

          12/ Elon Musk threw his own assets into the businesses he created, risking bankruptcy several times. Why? Because he believes in his missions. No stock compensation package can ever come close to that kind of intensity.

          2 replies 14 retweets 153 likes
          Show this thread
        8. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

          13/ It is the same reason why Buffett prefers to keep the original founders for the businesses he acquired. He knows it’s a tall order to replace them. Passion beats money when it comes to incentives. It’s just good business.

          3 replies 22 retweets 150 likes
          Show this thread
        9. Hugo Nguyen‏ @hugohanoi 21 Dec 2017

          14/ I support @SatoshiLite ‘s decision to sell. Without a financial stake in Litecoin, Charlie can focus 100% on the long term success of Litecoin. Nothing can hold back the chikun now!

          18 replies 28 retweets 285 likes
          Show this thread
        10. End of conversation

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