Six weeks ago, we documented the first transaction of our pilot. Since then, the merchant has continued saving sats. She does not convert back to fiat. No grand strategy. Just a small change in how value is perceived and held. The story is continuity. A first transaction is an event. A repeated choice is the beginning of an economy. Growth Event #009 Oriente Antioqueño, Colombia

Time ago someone came up with the notion that each and everybody somehow fosters poverty whenever we indulge in the use of fiat money as the medium of exchange. In the ongoing process of exchanging with one another, fiat quietly introduces compromise between peers, whereas a sound medium of exchange recognizes and reinforces each other's agency. No matter whether we are in favor or against, the process of exchange itself either loosens the chains or makes them tighter. The decision for one medium or another becomes a vote. By the very act of interacting, we either subsidize growth through voluntary cooperation or subsidize the gradual loss of agency through inflation. That is each person's free—yet inescapable—responsibility. The chosen medium of exchange quietly seals the relationship. No compromise is possible in this.

Relay test

Today the first merchant in our local pilot accepted Bitcoin for real goods. More importantly, she chose not to convert the sats back into fiat. A payment settled. A saver emerged. The experiment continues.

Finish the last sentence... "In a competitive society it is no slight to a person, no offense to his dignity, to be told by any particular firm that it has no need for his services or that it cannot offer him a better job. (...) But the unemployment or the loss of income which will always affect some in any society is certainly less degrading if it is the result of misfortune and not deliberately imposed by authority." (From HAYEK's 'THE ROAD TO SERFDOM' - Chapter Eight: Who? Whom?) Whenever a person's position in life is assigned to him by somebody else—not according to whether he is needed for a particular task, but according to whether he contributes to the expansion of the fiat system,...

Bitcoin reduces the need to trust centralized monetary infrastructure. It does not reduce the importance of trusting one another. Perhaps it increases it.

Although maximalists –and we at Kompass Frei consider ourselves among these– might disapprove Strategy's approach, this dude is brilliantly contributing to pave the way. And he does it re-interpreting the credit market. My respects.