"Fifty years from now, Nakamoto will be known as the Father of Cryptoeconomics."
And the Grandfather of Cryptoeconomics I assume would be Nick Szabo, since he invented Bit Gold a decade before Bitcoin came into existence., which was basically just the same as Bitcoin, except it was a paper he never put into motion.
Your explanation of Cryptoeconomics is bang on, I think, in particular with relation to why Steem is so great, being such an active Blockchain compared to all the others.
What I'd love to see is for Steem to be so active that the big Brands buy Steem to join the conversation. Then there would be no stopping it. :)
lol no bit gold was nothing like bitcoin stop it hahaha just stop!
In Szabo’s bit gold structure, a participant would dedicate computer power to solving cryptographic puzzles. In a bit gold network, solved puzzles would be sent to the Byzantine fault-tolerant public registry and assigned to the public key of the solver. Each solution would become part of the next challenge, creating a growing chain of new property. This aspect of the system provided a way for the network to verify and time-stamp new coins, because unless a majority of the parties agreed to accept new solutions, they couldn’t start on the next puzzle.[16][17]
When attempting to design transactions with a digital coin, you run into the "double-spending problem." Once data have been created, reproducing them is a simple matter of copying and pasting. Most digital currencies solve the problem by relinquishing some control to a central authority, which keeps track of each account’s balance. This was an unacceptable solution for Szabo. "I was trying to mimic as closely as possible in cyberspace the security and trust characteristics of gold, and chief among those is that it doesn’t depend on a trusted central authority," he said.[13]
See without the actual decentralized Miners he did NOT create it to be decentralzied! he never SOLVED tha problem! So he was just creating ANOTHER fucking encrypted Banking token! no differnet than any Wells Fargo Database that make syou login with an an encrypted key! his system was never implimented so theerfor ERRR wrong nope not like bitcoin at all! But i see why you think that..
the solving of cryptographic keys is cool i guess but meh he never actually got his system working so it is not relevant at all, to anything or anyone, but maybe his E programming language is
and maybe he is satoshi it would actually make sense right?
LOL i mean fuck if hes not satoshi how could he not be? As if there would be another person working on cryptographic decentralized money system?
This all makes me angry and i dont know why maybe because i didnt know about Nick Szabo until now. But his idea wasnt ever actually completed.. but did his idea get picked up by the Satoshi Nakamoto working goup???? ahhhhh fuuuck mind fuck
https://en.wikipedia.org/wiki/Nick_Szabo
i feel like hes just making up this entire story just to make himself look like satoshi nakamoto
hha lol no i know hes real
Well at least its better than E gold. But yeah he never got past double spend problem so his Bit Gold idea sucks, it wasnt a working idea at all. He just ended up havin to use a central authority, and he didnt want to, so yeah he never finished that ide,a i feel like tahst why we dont hear about it, but maybe I just never heard about him...
Nick Szabo
Nick Szabo is a computer scientist, legal scholar and cryptographer known for his research in digital contracts and digital currency. He graduated from the University of Washington in 1989 with a degree in computer science. He earned a JD from George Washington University Law School. He holds an honorary professorship at the Universidad Francisco Marroquín.The phrase and concept of "smart contracts" was developed by Szabo with the goal of bringing what he calls the "highly evolved" practices of contract law and practice to the design of electronic commerce protocols between strangers on the Internet.