The latest tweets from @NickSzabo4. Nathaniel Popper wrote in The New York Times that "the most convincing evidence pointed to a reclusive American man of Hungarian descent named Nick Szabo." In , prior to the release of bitcoin, Szabo wrote a comment on his blog about the intent of creating a live version of his hypothetical feuerwehr-matzenbach.de mater: University of Washington Computer Science . Over 6 years ago perhaps he could not imagine that it could be done in a decentralized, trustless fashion. This evolution of ideas is newer. But who knows, perhaps for many users a centralised "bank", requiring trust, is good and reliable enough for most casual low-value payments or for micro-payments.
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Computer science Digital currency. On governance. The Times. Retrieved 23 December The New York Times. Retrieved 8 January Retrieved 20 March It's Napster for finance". First Monday. Free: The Future of a Radical Price.
Archived from the original on 12 January IEEE Spectrum. The Huffington Post. The New Yorker. Retrieved February 4, History Economics Legal status. Interchangeability — the idea that each currency unit is equal to another such unit is extremely important for money. The seller wants to receive payments without worrying about the date of creation of money. Nick Szabo solved this problem too. For example, the package would contain more hashes than the package, but they should have the same value.
These packages were then to be divided into a specific number of units. Bit Gold was developed as the basis for free banking in the digital age, something like a gold standard. In the s, Szabo decided to get a law degree in order to understand the existing legislation and contract law, which he sought to replace or recreate in an improved format in the digital space.
He also began to describe his ideas in the authoritative blog Unenumerated , which discussed computer science, law, politics, biology, history, and other topics. In , 10 years after he first presented his initiative in private, Szabo wrote about Bit Gold on his blog; only then he wanted to do the first real implementation.
Does anyone help me to write the code? Nevertheless, it was Bit Gold that inspired Satoshi Nakamoto, who published the white paper of Bitcoin that same year. In addition to a publicly available database containing proprietary information and public-key cryptography, the PoW hash chain is very similar to the Bitcoin blockchain. In addition, even the names of the projects are not very different. It is noteworthy that Bit Gold was not mentioned in the white paper of Bitcoin, unlike Hashcash and b-money.
Some have considered this to be another proof that Szabo is Satoshi Nakamoto. Who else would try to hide the origin of Bitcoin in this way, they thought. It is worth noting that Bitcoin was still somewhat different from Bit Gold. In particular, the Szabo concept assumed some degree of trust with third parties — servers and timestamps.