Money is fixed. Currency is elastic. It takes 2 to tango. Get it?

#Bitcoin is a speculative asset. Currently. It will be a stable money. Soon. All that's missing is its currency layer. #Bitcredit Protocol is building it. Open source, permissionless. Join the @bitcr_org community to make it happen. The project is looking for Bitcoiners in the real economy, Producers, Importers/Exporters, Traders, For simulating supply chains on Testnet. Reward.

It may sound strange for #Bitcoin Hodlers but hoarding of money is a certain loss. If we do because we expect to it to rise, it is not a money, but bought for money. Ancient wisdom: "How very a little time Money stays in a place; and altho' every one desires to have it, yet none, or very few care for keeping it, but they are forthwith contriving to dispose it; knowing that from all the Money that lies dead, no benefit is to be expected, but it is a certain loss."

Technical scaling is not the problem in #Bitcoin. The tech for scale exists and the market values it less and less. I think the real challenges are: - Monetary scaling - Non-custodial - Censorship resistance - Better privacy These are the criteria for building Bitcredit Protocol.

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