Legendary Cryptographer Nick Szabo Posts Again: Bitcoin Remains King

Nick Szabo, known for his work in cryptography and decentralized currency, came out of social media retirement to reaffirm bitcoin’s value proposition. In response to other posts, Szabo said bitcoin remains king among assets because of its unique characteristics.

Nick Szabo Rises Again, Reiterates Bitcoin Is Still King

Nick Szabo, a legendary cryptographer who designed Bitcoin’s precursor Bit Gold, believed by many to be Satoshi Nakamoto himself, came out of retirement to post his opinions on social media.

Szabo, who had been out of the public eye, answered a series of posts to reinforce the value proposition of bitcoin and its unique characteristics in front of other cryptocurrencies.

In response to a post by Brandon Turp, partner and co-founder of Next Layer Capital, where he criticized that high-level people in traditional finance failed to understand inflation and how bitcoin constituted an answer to that problem, Szabo stated:

They’ve spent their whole lives swimming in the fiat goldfish bowl; they don’t know of any different environment.

Szabo was later asked about the validity of bitcoin today in front of Kaspa, the first blockDAG (directed acyclic graph), which a X user estimated could be “better than bitcoin.”

Szabo inquired about the project’s traits, comparing it to bitcoin. “How many Kaspa full nodes are there? How much history do Kaspa nodes need to store to provide the most trust minimization? Given that stored history, how fast (TB/year) would those nodes being filling up if a Kaspa chain operated at volumes dollar-equivalent to Bitcoin?” he stressed.

“ Bitcoin remains king because so many have prioritized so many other desiderata over trust minimization,” he concluded. Still, he recognized the potential of this kind of network, highlighting that their potential was “best realized when emphasis is put on applying the better tradeoffs to improving trust minimization rather than on other desiderata such as performance.”

X users welcomed Szabo to the public opinion arena and looked forward to his contributions on current cryptocurrency issues.