Really? Nobody? Nobody? View quoted note →

Pretty Good Privacy “PGP” is taken. Considering “Reasonably Good Privacy“ for Bitcredit‘s non-custodial e-cash layer on Bitcoin. “RGP”?

Building a decentralised open peer-to-peer system (i.e. Bitcredit Protocol) in a complex field like a monetary economics is quite exhausting. Even with a stellar team. But centralised would be totally futile. It would soon be turned into just another fiat money. So we slog on towards Beta.

Is Bitcoin a money or a currency? If you answer correctly I will follow you.

Banking today is not “banking” anymore. It’s statism gone wrong. Only a small part of credit goes to economic production. The major part goes to funding government overconsumption, including lots of waste, fraud, and corruption. Another large part goes to inflationary speculation, pumping asset prices, increasing social inequality, preventing people to live their dream through honest work. Most of the daily work of bankers is now in regulatory compliance and serving state mass surveillance instead of serving commerce and savers. Ever growing, complex regulations desperately try to prop up the fragile fiat system, politicians’ house of cards which could topple down any moment. It will collapse anyway, whatever they do. Ever growing intrusive Big Brother methods to spy on citizens and businesses so they can squeeze out the last dollar for the greedy political caste. This foul system must end. Fiat must end. Bitcoin can fix this.

I predict a strong surge in Freedom technology projects in Europe 🇪🇺 from here on. It is “innovation of last resort”, the only thing innovators can still do on a doomed continent. Everything else will be blocked by rampant regulation. The EU is being destroyed by a badly designed new political system which usually only lifts third rate politicians to power.

Bitcoin can fix this. View quoted note →

On Bitcoin Treasury Companies While it is correct that Bitcoin's progress will need an institutional layer, this cannot and will not be the passive Bitcoin Treasury Company of today. These merely centralise Bitcoin as balance sheet investments, as store of value, in hope of a financial flywheel, which however will peter out when net total inflows stop. It always stops, look at history. The institutions REALLY needed are those which put Bitcoin to work in the real economy, as medium of exchange for trade and industry. This will produce sustainable Bitcoin returns and unlock Bitcoin's monetary premium for a last price increase before stabilising. This needs not some company pushing "digital credit". It needs a decentralised "Bitcoin Credit Money" layer.

Today's electoral party system is to a real democracy what a cargo cult is to aviation.

QUIZ: One of these authors fails to understand the teachings of Austrian Economics on the role of an elastic supply for a stable currency. Who is it? A. Carl Menger B. Ludwig Mises C. Friedrich Hayek D. Saifedean Ammous

In our fiat times, people do not hold gold to use it. They hold it to sell it ultimately FOR money. In the gold age, people did not hold gold to use it. They held it to spend it ultimately AS money. Now think about the coming #Bitcoin age.

As a kid in the 70s, my parents sent me a few times to youth camps in (then) communist countries east of Austria, for affordable holidays. I don't know how commie politicians ever thought that these programs would turn kids into communists. The experience after an initial Stockholm syndrome - individually, they were nice people - made the Western kids aware of the prison-like constant surveillance, the mandatory strict belief system, the run-down poverty of life outside. The weirdest thing was our privilege over local kids as bringers of Western currency: we could shop for Western goods like chocolate and biscuits and cigarettes (!) with Austrian Schillings.

Time to leave. Sad subconsciously expected. View quoted note →

What is it that politicians always want to remove privacy from communication and money? Don’t they know that their children will have to live in tyranny?