推特原文：Naval on Twitter: "1/ Blockchains will replace networks with markets."

1. 區塊鏈將取代擁有網絡效應的市場。

Blockchains will replace networks with markets.

2. 人類是第一個能夠跨基因邊界連接其他人類的種類。這也讓人類稱霸地球。

Humans are the networked species. The first species to network across genetic boundaries and thus seize the world.

3. 與其單打獨鬥，網絡提供人類合作的機會。網絡也負責分發合作帶來的報酬。

Networks allow us to cooperate when we would otherwise go it alone. And networks allocate the fruits of our cooperation.

4. 交叉重疊的網絡建立並持續管理著我們的社會。實體、數字、及思維網絡連接著我們所有人。

Overlapping networks create and organize our society. Physical, digital, and mental roads connecting us all.

5. 金錢是網絡。宗教是網絡。企業是網絡。道路是網絡。電力是網絡。

Money is a network. Religion is a network. A corporation is a network. Roads are a network. Electricity is a network...

6. 網絡需要規則來管理騙子。這些規則將由網絡管理者來執行。

Networks must be organized according to rules. They require Rulers to enforce these rules. Against cheaters.

7. 網絡有網絡效應。每一位新加入的用戶都能夠提升整個網絡的價值。

Networks have "network effects." Adding a new participant increases the value of the network for all existing participants.

8. 網絡效應導致贏者通吃的壟斷。領先的網絡最終成為唯一的網絡。

Network effects thus create a winner-take-all dynamic. The leading network tends towards becoming the only network.

9. 網絡管理者也成為社會上最有權有勢的人。

And the Rulers of these networks become the most powerful people in society.

10. 某些網絡由王室及牧師管理著，他們決定什麼是“金錢“、”法律“，”神聖“、“粗俗”。外人無法影響這些由網絡管理者定下來的規則。

Some are run by kings and priests who choose what is money and law, sacred and profane. Rule is closed to outsiders and based on power.

11. 許多種網絡是由企業在管理的 — 社交網絡、搜尋網絡、通訊網絡。這些封閉但【任人唯賢】。

Many are run by corporations. The social network. The search network. The phone or cable network. Closed but initially meritocratic.

12. 有些網絡是由精英在管理的 — 高等教育網絡、醫療網絡、金融網絡。這些開放且【任人唯賢】。

Some are run by elites. The university network. The medical network. The banking network. Somewhat open and somewhat meritocratic.

13. 有些網絡是由烏合之眾在管理的 — 民主、互聯網、公眾。這些開放但不【任人唯賢】，且非常低效率。

A few are run by the mob. Democracy. The Internet. The commons. Open, but not meritocratic. And very inefficient.

14. 在戰爭中，獨裁制比民主制更有效率。互聯網和實體的公眾議論被濫用且充滿垃圾。

Dictatorships are more efficient in war than democracies. The Internet and physical commons are overloaded with abuse and spam.

15. 20世紀我們看到了一種新的網絡 — 市場網絡。公開而且【任人唯賢】。

The 20th century created a new kind of network - market networks. Open AND meritocratic.

16. 網絡的價值由所支配的資源來判定。資源即金錢，一種可以凍結及進行貿易的【時間】。

Merit in markets is determined by a commitment of resources. The resource is money, a form of frozen and trade-able time.

17. 這些市場網絡都是巨頭 — 信貸市場、股票市場、商品市場、貨幣市場。這些可以摧毀一個國家。

The market networks are titans. The credit markets. The stock markets. The commodities markets. The money markets. They break nations.

18. 因為有了金錢的承諾，市場網絡才得以發展起來，且應用場景無限。沒有了金錢的承諾，就只能算是【烏合之眾】的網絡。

Market networks work where there is a commitment of money. Otherwise they are just mob networks. The applications are limited.

19. 直到現在。

Until now.

20. 區塊鏈的發明允許“有價值的參與者”參與開放的網絡，並且不需要網絡管理者、不需要金錢。

Blockchains are a new invention that allows meritorious participants in an open network to govern without a ruler and without money.

21. 區塊鏈是：以價值為基礎、不能竄改、開放的投票系統。

They are merit-based, tamper-proof, open, voting systems.

22. 那些執行工作來推進網絡發展的參與者將獲得網絡所分配的價值。

The meritorious are those who work to advance the network.

23. 你提供給社會它所需要的，社會就能獎勵你金錢。你提供給網絡它所需要的，區塊鏈就能給你代幣。

As society gives you money for giving society what it wants, blockchains give you coins for giving the network what it wants.

24. 區塊鏈是以網絡自帶的代幣獎勵你，而不是金融市場上眾所周知的貨幣。

It's important to note that blockchains pay in their own coin, not the common (dollar) money of financial markets.

25. 區塊鏈以代幣付款，但代幣只是紀錄了你所提供的工作價值。不同區塊鏈所需要的工作也都不同。

Blockchains pay in coin, but the coin just tracks the work done. And different blockchains demand different work.

26. 比特幣以鞏固帳本為所需工作。以太幣以執行和確認【計算】為所需工作。

Bitcoin pays for securing the ledger. Etherium pays for (executing and verifying) computation.

27. 區塊鏈結合了民主和互聯網的開放性和市場的價值觀。

Blockchains combine the openness of democracy and the Internet with the merit of markets.

28. 對區塊鏈來說，【價值】可以代表安全、計算、預算、注意力、帶寬、能源、儲存、分發、內容。。。

To a blockchain, merit can mean security, computation, prediction, attention, bandwidth, power, storage, distribution, content...

29. 區塊鏈讓市場模型套用到以往所觸及不到的地方。

Blockchains port the market model into places where it couldn't go before.

30. 區塊鏈的開放和以價值為基礎的市場模型可以取代以往由王室、貴族、企業、烏合之眾管理的市場。

Blockchains' open and merit based markets can replace networks previously run by kings, corporations, aristocracies, and mobs.

31. 沒有代幣的區塊鏈就如同沒有金錢的市場 – 是無釐頭的。

It's nonsensical to have a blockchain without a coin just like it's nonsensical to have a market without money.

32. 由國家、企業、上層社會、烏合之眾控制的區塊鏈也是無釐頭的。

It's nonsensical to have a blockchain controlled by a sovereign, a corporation, an elite, or a mob.

33. 區塊鏈提供新的方式來管理網絡 — 金融、投票、搜索、社群媒體、通訊、能源。

Blockchains give us new ways to govern networks. For banking. For voting. For search. For social media. For phone and energy grids.

34. 沒有王室、牧師、精英、企業、烏合之眾管理的網絡。由提供價值的人管理的網絡。

Networks governed without kings, priests, elites, corporations and mobs. Networks governed by anyone with merit to the network.

35. 以區塊鏈為基礎的市場網絡會逐漸取代現有的網絡。一開始慢慢的，之後會加劇。一開始只有一個網絡，之後變成所有網絡。

Blockchain-based market networks will replace existing networks. Slowly, then suddenly. In one thing, then in many things.

36. 最終，主權國家也只是一個網絡（中的網絡）。

Ultimately, the nation-state is just a network (of networks).

謝謝你，Satoshi Nakomoto，和所有 Satoshi Nakomoto 參考的前人。

Thank you, Satoshi Nakomoto. And to all the shoulders that Satoshi stands upon.