hubertusVIE
Hu₿ertus the Austrian

www.bit.cr

Bitcredit Protocol:
No more on/off ramps
Bitcoin for the real economy
www.bit.cr

Public Key

npub1924xzcxh5hal80afljr7sl7qsr6572y95e3qw0ejdstatsx7ma7sqj4f6r

Profile Code

nprofile1qqsz42npvrt6t7lnh75leplg0lqgpa209zz6vcs88uexc974cr0d7lgpz4mhxue69uhk2er9dchxummnw3ezumrpdejqz8mhwden5te0dehhxarj9ejkjmn4dej85ampdeaxjeewwdcxzcm9qyxhwumn8ghj7mn0wvhxcmmvqyg8wumn8ghj7mn0wd68ytnhd9hx2qgjwaehxw309ac82unsd3jhqct89ejhxqg0waehxw309ahx7um5wghx6mmd2c4hf5

Publishing to

eden.nostr.land

nostr.einundzwanzig.space

Author Public Key

npub1924xzcxh5hal80afljr7sl7qsr6572y95e3qw0ejdstatsx7ma7sqj4f6r

Show more details

Last Notes

2026-02-12 20:27:10 UTC

- reply

Saifedean Ammous fails to understand:
1. The difference between money and currency (Urkundengeld).
2. The elasticity of currency supply.
3. The difference between divisibility of money and elasticity.
4. The difference between deflation with productivity growth.
5. The Reverse Cantillon effect of deflation.

2026-02-07 23:41:13 UTC

Really? Nobody?
Nobody?
#note1scg…urfu

2026-02-07 13:11:26 UTC

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

2026-02-07 13:07:18 UTC

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Plausible. What’s unclear still is durability of npubs.

2026-02-07 13:05:51 UTC

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Cool.
This one’s message is WYSIWYG though.

2026-02-07 13:01:33 UTC

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Because of the range Lo 10 - Hi 40 gold coins since 2021 when El Salvador declared it legal tender. That’s the most recent signal for MoE we have seen.
The baggies’ NGU/SoV narrative dominated since then, including Trumpian hopium of SBR statism.
https://image.nostr.build/445a1372ae0fbeda98b690c97ec924161612f29c84cacdaa34e5b8e69a774ae8.jpg

2026-02-07 11:48:39 UTC

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Yes, indeed. e.g. 1 Troy oz US Gold Eagle or 1 full Austrian Philharmoniker.
Easiest for former gold bugs and useful when thinking about pre-1913 sound money purchasing power.

2026-02-07 11:40:09 UTC

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Gut sense:
BTC will test 10 gold coins.
$50k.

2026-02-07 11:38:54 UTC

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Fiat ATH I consider irrelevant.
Convinced Gold ATH (40 coins in 2021 and early 2025) can only be reached again by significantly raising the probability of (or succeeding in) becoming a medium of exchange for real supply chains.
Circular.

2026-02-03 19:48:50 UTC

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.

2026-02-03 00:06:53 UTC

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

2026-02-01 18:14:27 UTC

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Big question. Needs a plan and a book.

2026-02-01 14:41:14 UTC

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You may want to check your capitalism.
It opposes government subsidies, interventionism and overregulation. “Elites” are a political privilege category.
They are all typical of socialism, worsening socialist creep, captured by politician fat cats and cronyism.
Capitalism is meritocratic.

2026-02-01 11:41:50 UTC

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First-principles rule:
If you reuse a symbol, you inherit its priors.
You don’t get to selectively import only the aesthetics.
The Antifa Aktion symbol is a highly compressed ideological package:
• anti-capitalist
• pro-state intervention (even if rhetorically “anti-authoritarian”)
• comfortable with coercion as a political tool
• aligned, de facto, with fiat systems, subsidies, and centralized power
This matters because symbols do not invert easily. Irony is expensive and unreliable.
If you reuse a symbol, you inherit its priors.
You don’t get to selectively import only the aesthetics.

2026-02-01 11:33:32 UTC

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.

2026-01-29 20:48:37 UTC

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Are your questions serious?
Here’s the original.
You know what it is?
https://image.nostr.build/6b5729e67cba226333a459c7b7f3a41676dbb03e0cb983f2dff65775a04a2f74.jpg

2026-01-29 20:41:17 UTC

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Insofar as Bitcoin critics are correct, Bitcoin builders get guidance what to fix next.
Unbeknownst to themselves, these critics are working for Bitcoin.
PS: Coffee payments incoming. And cacao.

2026-01-28 18:23:20 UTC

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.

2026-01-28 17:59:19 UTC

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The network effect is Occam’s razor for money.

2026-01-28 17:55:08 UTC

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Need?
“need to avoid”

2026-01-26 10:13:48 UTC

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Most Antifa-aligned groups explicitly define themselves as anti-capitalist and anti-market.
They are hostile to private means of production, the finance sector, and private money like Bitcoin.
And they want more government power over economy, production and free speech, government suppression of unwanted ideas.
Incompatible and incompetent.

2026-01-26 07:02:04 UTC

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Fiat must be ended.
The graphics are debateable though.
Question to PR geniuses: Is it a good idea or a bad one to use the brand colours and symbols of those who would support fiat and government overreach?

2026-01-25 23:18:18 UTC

Bitcoin can fix this.
#note13xq…4zs9

2026-01-13 20:39:11 UTC

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.

2026-01-11 00:28:51 UTC

Today's electoral party system is to a real democracy what a cargo cult is to aviation.
https://image.nostr.build/4052f02533a8d940afa037e97c5028a4ef26e86a7b7bc4a0718c33c1577e37c8.jpg

2026-01-10 23:54:07 UTC

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Agree, many important questions.
These was a long Socratic debate which lasted late into the night, I do not usually write them up.
if a specific question interests you, I will summarise our outcome, from an Austrian Economics angle.

2026-01-10 22:52:49 UTC

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
https://image.nostr.build/45ba4573ddaceab973d7497b2cd755f8e9b6eedcf1a392dca628cf461465a5bc.jpg
https://image.nostr.build/6677d7ecf352f956f0c61bc5ef790ae6ad4af934859e27543747cce1eed33b8f.jpg
https://image.nostr.build/581b566eec48086a52b2316b0637da541955fc3ba0893a88362455a31f4fd4e4.jpg
https://image.nostr.build/0d2552ff8229094c720c57b650535481fa60a9d74c179cb04bbf051c70d625e6.jpg

2026-01-10 10:33:22 UTC

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There are ways. Demonstration are not.
#nevent1q…xpd9

2026-01-10 10:31:24 UTC

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Sure, demonstrations do not fix the system.
They are a symptom of a fake democracy.
But this doesn’t generalise.
The system can be fixed with other methods.

2026-01-10 10:28:53 UTC

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.
https://image.nostr.build/123a93c75544cbb90cd1becd4db21bda062f678f79d55c153e2e19b64d549270.jpg

2026-01-08 08:26:34 UTC

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A true “prediction markets” has privacy by default.
They work without users paying money, the incentive is winning money from a sponsor, the company which needs prediction.
Participation is ALWAYS anonymous to get to truth.

2026-01-06 11:35:45 UTC

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Who? My parents. Two reasons:
1. Commie talk always sounds good from afar.
2. East Block countries were way cheaper than the West.
Their governments desperately needed foreign currency for imports from capitalist countries.

2026-01-06 11:31:56 UTC

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Where?
We are here already: Nostr.

2026-01-06 07:57:40 UTC

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The sellers are giving away their production, hard work.
Companies in the global supply chain do not grant the necessary 30, 60 or 90 days lightly.
They check on the buyer company, they have long term relationships.
The bill of exchange then gives them the liquidity to continue operating, without shutting down, creating unemployment.

2026-01-06 07:47:43 UTC

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.

2026-01-06 00:10:23 UTC

Time to leave. Sad subconsciously expected.
#note1u3k…flj8

2026-01-04 21:03:08 UTC

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?

2026-01-04 19:49:41 UTC

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"Austrian economists theorize but cannot build. Cypherpunks build but lack theory."
OBJECTION!

2026-01-04 18:13:50 UTC

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That’s actually rarely the choice, a bill or spot bitcoin.
In an economy with commodity money, division of labour and specialisation, long production and supply chains, the choice is bills or no sale, rotting goods, breakdown of trade.
That’s the reason why bitcoin has not been, could not be, adopted in the real economy.

2025-12-31 14:21:04 UTC

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I gave an interview today once about it here:
https://www.idealismprevails.at/hubertus-hofkirchner-glt-2-0-offene-demokratie-und-warum-burgerparlamente-die-politische-zukunft-sind/

2025-12-31 13:01:56 UTC

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The crypto anarchist theory may be “complete” but I say it throws out the babe with the bathwater, seeks unrealistic individualism where mankind needs to organise realistic voluntarily cooperation and where unfettered authority needs decentralised checks. It is not a matter of throwing it all out, the job is to add what’s missing.
So, as wealth and prosperity need specialisation combined with rule-bound cooperation, I think that there are two missing elements to go to a proper democracy:
(1) Methods and systems (to build) which help us get to good rules and abolish bad ones, which work for the general good without unjustified power to loud minorities. The best one I could devise I call statistically-representative democracy, it is a massively-parallel decentralised institution with enormous bandwidth to handle such issues. We will use the principle for the governance of Bitcredit Protocol.
(2) Methods and systems (to build) which help us to appoint individuals to executive positions limited to manage missions as per (1) while ensuring control and liability. An intriguing decentralised method for this was devised in ancient Venice for the election of the Doge, a modernised version could revolutionise executive appointments in modern times.

2025-12-30 19:31:02 UTC

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On the "Austrian Debate".
When we built @npub1eaj…cd93 the development mechanics clearly confirmed the position of Antal Fekete and Juan Rallo.
It became very clear that Murray Rothbard and Phillip Bagus misunderstood the act of credit creation.
It is not the banks, cuckoos squeezing in as legal intermediaries, but the original buyer and seller granting terms which create raw credit money. Still not fungible, but already negotiable.
The merchant banks accepting a bill and discount houses discounting it, both are just enhancing but not creating the original credit, as Rothbard described it.

2025-12-30 19:06:52 UTC

In 2026 @npub1eaj…cd93 will bring back the private peer-to-peer payment instrument formerly known as "bill of exchange".
The e-bill returns with Freedom Technology, payable on unstoppable Bitcoin rails instead of in bank custodied gold, on encrypted Nostr transport instead of state postal services.
This will unlock world trade for the Bitcoin circular economy and give Bitcoin its missing currency, its Medium of Exchange.
#note1s9p…tnu0

2025-12-24 20:39:47 UTC

Cyberspace infrastructure can be eternal if rigorously designed to eliminate access points for meatspace coercion and violence.
#Bitcoin #Bitcredit

2025-12-24 14:06:43 UTC

Christmas wishes from mass mailers are a perfect reminder to unsubscribe.

2025-12-24 14:02:33 UTC

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FUD. At even huge usage levels safe with a wide margin. 25 year evidence.
Bluetooth headsets even safer by many dimensions.
If you insist on being totally irrational and worried, just use a wired headset.

2025-12-19 13:59:44 UTC

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Both "more likely"?
Creative.
PS: Saylor's Bitcoin is more likely to go to his creditors.

2025-12-06 10:17:34 UTC

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I agree with your initial analysis.
Let's be conscious though of the difficulty of 'free market eating command' in money. Yes, it would work better for people and the prosperous free market economy.
But let's remember: The political caste was able to replace sound gold money with fiat. That danger is ever present.
And now we are starting as underdogs: we have the herculean challenge of starting up a #bitcoin based currency, its medium of exchange for trade and industry, while political money now has a big advantage in lower initial volatility and their power to impose societally harmful legislation if it is in the arrogant political caste's advantage.

2025-12-06 09:57:30 UTC

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Continued:
- Should we return to national currencies?
- How should we interpret the massive gold purchases made recently by central banks?
- Which countries are moving towards a more decentralised monetary system?
- How will our life look like long-term if each payment with CBDC money needs some kind of application with the central bank?
- Do EU citizens have any chance of averting the centralisation of money and power with CBDC?
- Can we abolish the ECB?
- How to stop CBDCs, at least in the EU?
- Is it possible to create an independent, decentralised monetary system without the approval of lawmakers?
- Is it really just the banks underserving industry or is there a generational decline in German industry which reduces bank business?
- Wirtschaftsweise Werner von Sinn (Germany) says we have now after COVID much more new Money and Credit than what triggered the Financial Crisis of 2008/2009. Will this again result in a Big Crash and when?
- How much regulation is necessary to prevent misbehaviour of market participants?
/3 of 3

2025-12-06 09:56:33 UTC

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Continued:
Our subsequent Socratic Debate went on for many hours into the night, as always. Topics covered were:
- How long can a fiat system work and survive?
- How can we make sure that credit goes towards the productive businesses only?
- How can we increase productive credit? What incentives are organically available?
- Is there a precedent of a country that migrated from asset-based speculative credit and money creation to production based money creation?
- How does the Austrian school consider the inflation impact of the three types of loans mentioned by Professor Werner, for (1) production, (2) consumption, (3) asset speculation?
- How do we solve the energy situation (price & quantity) in Europe if Russian relations and supply chains like Northstream are broken for at least a generation?
- Concerning Euro: will fiscal imbalances and asset bubbles precipitate a collapse of the Euro?
Read on.
/2 of 3

2025-12-06 09:55:06 UTC

An impulse speech by Prof. Richard Werner opened yesterday's Socratic Debate at the Hayek Institute in Vienna 🇦🇹.
The “interest rates drive growth” theory is empirically wrong, he showed; rates follow growth, an 'Austrians' agree. Bank credit creation and its allocation decide whether economies boom or bust.
Prof. Werner warned that central banks, regulator-driven centralisation, and CBDCs will wipe out Europe’s local SME-lending banks (thousands already gone). The real path to prosperity is many small regional banks directing credit into productive investment, not speculation.
Our main point for debate was that Prof. Werner thinks that this can be fixed with the right policy prescription for central banks, whereas I think that the very institution of central banks and their enormous illegitime power will invariably lead to negative economic and political outcomes in time. Central banking and CBDCs are incompatible with free markets and a free society.
#Bitcoin shows that money (SoV) creation is a matter for the free market, and #Bitcredit aims to show the same for currency (MoE) creation.
Read on.
/1 of 2
https://image.nostr.build/ce8aeb9434a68d499b72ff6f04678ef2f5aab65f9da41321822a9ac83f48cdc9.jpg

2025-12-04 09:03:12 UTC

Bitcoin will be more stable than fiat "stablecoins".
This panel has more than meets the eye.
Bringing the supply chains onto #Bitcoin is what will stabilise its exchange rate. Proper stable, non-inflationary.
https://image.nostr.build/579bae01d22659830d83518609810c97ae76a6aa7b0edf237229ea26fa559e82.png

2025-12-02 09:06:47 UTC

Bitcoin won’t monetise on its own.
Trade credit is key, just like during the Gold Age.
#note1c6g…n2p8

2025-11-25 16:23:07 UTC

Thanks @The Bitcoin Conference for having me.
@BitcoinMagazine
#note1atz…vsmc

2025-11-24 15:16:30 UTC

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Not sure we should re-use nsecs.

2025-11-24 15:15:56 UTC

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Horsing around the new boating?

2025-11-24 15:15:27 UTC

Money, Bitcoin: "stores value" by scarcity in relation to willing buyers and sellers and actual future production.
Currency, Bitcredit: "mediates exchange" of goods produced, represents the value against which it is created, purchasing power depends in actual future production.

2025-11-18 13:12:45 UTC

In today’s “Bitcoin Bankers” Seminar in El Zonte we will talk about historic Wildcat Banking and novel digitalised Wildcat Minting will monetise Bitcoin for trade and industry adoption. Feel free to join us at 6pm on the upper deck of Olas Permanentes.
nhttps://www.satlantis.io/events/1222/Bitcoin-Bankers
#note1p3w…x0qp

2025-11-17 15:30:48 UTC

Today in el Zonte, after yesterday's Socratic seminar about full reserve banking, we will delve into the electronic bill of exchange on Bitcoin rails.
https://www.satlantis.io/events/1222/Bitcoin-Bankers

2025-11-16 03:27:57 UTC

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Thanks, all zappers. Means a lot.

2025-11-14 02:44:24 UTC

Hi, San Salvador, Bitcoin Country!

2025-11-13 10:12:26 UTC

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Initially, I read “25 degrees uphill”.
Flabbergasted.
Note to self: need a run, too.

2025-11-06 16:02:01 UTC

My talk titled "Bitcoin Education for Trade and Industry" will start at 4:00pm. See you all in San Salvador!
Also check out the whole event. I find unconferences ideal for Bitcoin ethos: http://bitcoinunconference.com
https://image.nostr.build/54c353f5f320d0fa3013b8df67c537ed8926a9c07a6e4201be4d6d0873daad38.jpg

2025-11-04 09:59:00 UTC

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Danke Dir für Deine Fragen und damit wieder ein Stückchen Unterstützung für Bitcoin in der Realwirtschaft.

2025-10-27 09:16:09 UTC

Orange pilling the real economy in the face of Bitcoin volatility.
Mission possible?
Bitcoin Treasury Companies are the way.
Fiat monopoly money must be ended.
https://image.nostr.build/68d06bfec51905d774ae862fe874be01c36006ed2e5b896560d32eedf1c49607.jpg

2025-10-17 21:18:04 UTC

Nostr needs a structured debating format, similar to Kialo.
The “twitter” format is too redundant, wasteful, and instills madness of crowds.

2025-10-17 16:35:55 UTC

1 Bitcoin bis only 25 gold coins today.
#note1ssx…hgw7

2025-10-15 07:07:32 UTC

"Local currency trade is picking up between BRICS countries much faster than expected, reducing dependence on the US$", says Robert Besseling of @PangeaRisk at @gtreview Egypt 🇪🇬.
Interesting. But is it is a sustainable development?
Money has strong network effects which ultimately must converge again.
The lesson of the recent past: Global Trade needs a geopolitically neutral money which no nation state can debase or abuse. #bitcoin
https://image.nostr.build/f9026a6379b19bdc8a6abb8d2517d8fd1ef47cbdc21ec691c83ce3dc2935eb70.jpg

2025-10-10 16:23:07 UTC

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Try to be rational.
The goal is to find out what the REAL, the fundamental value of bitcoin may be.
Study up on tatonnement and then look again at a long term chart. Consider the fundamental news at the time of peaks. Consider past maxima which tested the top.
Expressed in a real money like gold not in useless fiat, of course.

2025-10-10 15:33:39 UTC

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Not a cherry picking. You need to look at the price of it gold coins - Not the money illusion of fiat money.
Bitcoin cost 38 to 39 gold coins in 2021 when El Salvador announced legal tender.
Now it exchanges only into 30 gold coins. Too little progress with monetisation.

2025-10-10 15:02:25 UTC

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This is unbearable, sorry. Let’s criticise fiat money but also make sense:
It is simply inaccurate that people have “never been able” to store “money in money”.
1. Gold used to be money. Great SoV, for millennia.
2. People also invest in land, equities. Both store value.
3. Bitcoin is down severely vs. gold. Has been for 4 years.
Nothing changes. Economic laws are what they are.

2025-09-22 20:44:58 UTC

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Did you notice that it declined in September.
This warrants more nuanced questions.

2025-09-22 19:30:36 UTC

At tomorrow's Commodity Trade Finance Conference in Geneva🇨🇭, Bitcredit Protocol will be right in the mouth of the dragon.
Our keynote will educate global traders about how #Bitcoin helps them with all the trouble and hindrances which political fiat money causes in international trade, distorting everything.
Our Bitcoin-themed booth will be right beside those of the big fiat banks captured by that miserable system.
Wish us luck. We'll send photos.
https://image.nostr.build/23851d358679682c86ca0f06fe8ded2a31c829ccee9116d3daebdb14e2cd44cb.jpg

2025-09-22 19:26:07 UTC

Really looking forward to be a panelist at “The Future of Money: How will the world pay in the next 10 years?” hosted by the Vienna Institute for Global Studies on September 26 at WeXelerate, Vienna.
Key topics on the table:
- The disappearance of physical cash and its cultural impact
- The dystopia of digital government money
- Total surveillance & control in cashless ecosystems
- The promise of Bitcoin (not "Crypto") for a future society
👉 Reserve your spot here: https://lnkd.in/de9AK8MD

2025-08-30 10:54:43 UTC

Writing my keynote for next week in Istanbul.
https://image.nostr.build/6ad4341c65b7427b50e33cfa7a8c3bb1739ee640237d2c2c231c772158dd0c40.jpg

2025-08-23 09:11:05 UTC

In a realistic #bitcoin future, there exist only two kinds of money:
1. Bitcoin base money (BTC, M0)
2. Bitcoin credit money (Bitcredit, M1)
Credit money may only be created if it’s backed by real goods entering the supply chain. That’s what makes it honest.
Example:
1. A farmer wants new machinery.
2. He finds a bank (ultimately private savers) willing to lend Bitcoin.
3. The deal: “10 BTC now, pay back 12 BTC in 5 years.”
4. The extra 2 BTC cover costs, risk, and profit.
5. If the farmer fails → the bank takes the loss.
No bailouts. No money printing.
Clear enough?
PS: At 12 for 10 the bank is fine if 1 in 5 loans went bad, with a total loss. Unlikely though. With sound banking practice loans are backed by real collateral.
PS: And no state guarantees — those breed inflation.

2025-08-18 20:03:05 UTC

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Exactly the same reasons apply for non-KYC exchanges.
We only need to stabilise Bitcoin , is all.

2025-08-04 07:08:12 UTC

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Mass surveillance is only for the innocents.
The real criminals know how to bypass it.

2025-07-25 20:19:52 UTC

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Why would they pay off debt? They can print it off.
Every time.

2025-07-23 06:13:01 UTC

The renewed investigations into organ donor abuse do not surprise.
It's most important to keep your health and financial data 💯 PRIVATE.
Otherwise goons will get you, government or private.

2025-07-16 19:16:19 UTC

Satisfying progress and synchronisation of the four ecosystem components over the past three days: eBills v0.4, Wildcat v0.2, eCash wallet design, Clowder prototyping.
#note1kqe…vx2r

2025-07-15 07:39:20 UTC

The complete Bitcoin system will not know jurisdictions.
Nation states will have no power over it.
Outright bitcoin and bitcoin credits will be freely accepted in payment, for the system’s soundness and protections, not for legal tender laws.

2025-07-15 07:31:39 UTC

Hi @Juraj – Radim did not know which Letter of Credit project you meant.

2025-07-08 16:46:27 UTC

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The collectivists like to blame that supposed "free" market when one of their harebrained Interventionist schemes blows up.
Or has consequences which their shortsighted lot failed to anticipate.

2025-07-06 21:18:06 UTC

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Bills of Exchange "can be" issued against thin air. They can but should not.
Such "dry" (financial) bills were never accepted in free circulation. The ancient church even strictly forbade their issue under usury rules.
Merchants strictly only accepted commercial bills issued "against value". This means they were created as medium of exchange ("money") as the 1st leg against a sale of B2B goods. (Akin to Bitcoiners "proof-of-work"). Bills issued against goods CANCEL OUT when used to purchase final goods in the 2nd leg of real exchange.
Bills were the indispensable enablers of exchange. And will be in Bitcoin.
Study Bitcredit Protocol !

2025-07-06 21:16:20 UTC

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Unfortunately, Washington also blunders with a bad economic claim, repeated multiple times, that the merchants created "money out of nothing".
True, in modern fiat money systems central banks issue money against thin air, government bonds.
This was not so in a free world.
/4
https://image.nostr.build/3555070c5222d551585bb745688f1d70d0fa8e4e58a4ea57841bb71d385e8f4e.jpg

2025-07-06 21:15:39 UTC

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At 3/13:30 it shows how bad actors made redemption near impossible. Bills of Exchange should always be paid at maturity.
Bitcredit ENFORCES verifiable redemption in Bitcoin to a special Taproot address on mainchain.
No fool's errand in meatspace.
/3

2025-07-06 21:14:39 UTC

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Immediately at 1/0:40 the documentary criticises that fiat money and fiat Bills of Exchange are no longer connected to gold or silver.
True.
That's why an eBill in Bitcredit is strictly denominated in Bitcoin. The protocol code ENFORCES the connection to digital scarcity.
https://image.nostr.build/e1e2ec0fa8b73b4a1ca061728154cfa2854a919a9ac8196565cf4f43075cb902.jpg

2025-07-06 21:13:29 UTC

Just watched an interesting documentary called "Mystery Paper" by Canadian filmmaker and lawyer Cal Washington.
It contains some important truths about Bills of Exchange, sadly it also suffers from one bad economic blunder worth correcting.
/1
https://babylonobserver.com/mystery-paper/
https://image.nostr.build/ef6b0903379be7141ff9448ba6264698278ff20fb72d52eb925483c794cf8eeb.jpg

2025-07-06 21:12:19 UTC

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Highly stylised but abundantly clear:
Anything between "Mining" (primary industry: farming, fishing, forestry, ...) and "Retailing" CANNOT function without credit money M1.
Elasticity!
This is what really blocks #Bitcoin.
Bitcredit project
@bitcr_org
is working to fix this.

2025-07-06 21:12:00 UTC

You're down 1000 hours into the #Bitcoin rabbit hole?
Read all the insider books?
But you still cannot figure out why businesses exchange Bitcoin back to fiat?
Why Bitcoin does not (yet) work in the real economy?
What you need to study is the "Hayekian Triangle".
https://image.nostr.build/2d32bd28e9d14daa6319bd0c9da4a6c22acb6a205c883d0de01b5754d25ff0c6.jpg

2025-07-06 21:11:30 UTC

A non-custodial method for Chaumian eCash gave us #Bitcoin, the best base money.
Now it needs another non-custodial method for Chaumian eCash for "double" scalability:
– Technical: L1 => LN (L2) => L3/L4
– Monetary: M0 => M1
#Bitcredit: Near-infinite TPS, low latency, and privacy!

2025-07-06 21:11:06 UTC

Who still remembers Gavin's faucet?
Anyone?

2025-07-06 21:10:34 UTC

"Regulatory clarity" on stablecoins is politician doublespeak for "How can we kill them?"
The politicians will succeed. MiCAR was just their first stab at it.
We must get to bitcoinisation, M1 supply, MoE, stable exchange value, the works.
They can't "regulate" Bitcoin.

2025-07-04 13:07:39 UTC

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No. It’s bitcoin denominated M1 credit money redeeming into Bitcoin M0. The stuff needed if we want the real economy to use Bitcoin.

2025-06-28 13:28:10 UTC

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1. Hier scheint eine Vermischung von Geldschöpfung und Kreditschöpfung vorzuliegen.
Keinesfalls erschafft jeder von uns 'Geld'. Wer anderes glaubt, möge es vorzeigen.
2. Auch das ausgesprochene Vertrauen auch in die staatlichen Institutionen, welche das Fiat-Geldsystem bzw. die Basisgeld-Produktion entscheidend betreiben, ist verblüffend.
3. Zuletzt leben wir auch in keiner Demokratie (im wahren Sinn), wie vielerseits und auch hier behauptet wird, sondern in einem oligarchischen Parteiensystem (Doublespeak: 'repräsentative Demokratie'), das von einer systemisch korrupten politischen Klasse nach deren abgehobenen Eigeninteressen beherrscht wird.
Aber ich lese mal weiter ...

2025-06-28 13:27:21 UTC

Ich lese gerade @ProfRieck's Fürstengeld, der - aus Tweets schließend - wohl einige meiner Kritikpunkte am landläufigen Bitcoin Influencer-Narrativ teilt.
Ich habe gleich Anfangs ein großes Problem mit dem Text, aber hoffe, dass sich das später vielleicht klärt. Hier etwa:
/1
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2025-06-23 07:22:11 UTC

Hey @Juraj, good to chat in Prague. Two pointers would be highly helpful for us here in Vienna.
1. Link to the Czech law or directive which requires banks not to debank bitcoiners and not to deny fiat account openings.
2. The lawyer who helped in the bitcoin L/C matter. Maybe even a chat about leaenings.
3. Also, we are preparing to open a s/w lab for M1 money initiative ( @npub1eaj…cd93 ) in Prague. Any helpful tips appreciated.
Happy to keep our convo open, unless you prefer DM.

2025-06-22 16:07:08 UTC

For the totalitarian state, control over money and credit is the path to total power over men.
For a free world, the state must remain totally powerless over money and credit.
What world do you want to live in?
https://image.nostr.build/43ad70510e89add85e646ebdd7b429ef6986380f86ed358f1e206704a4bdb6d7.jpg

2025-06-22 13:28:22 UTC

This is an acid test for "Satoshiness".
Satshi definitely knew that - other than a commodity - a money's supply must adjust to demand shifts, eg. with population growth.
Peter Todd failed the Satoshiness Test. He is definitely not Satoshi.
In a convo about it, he brushed it off: "That's not needed, we clarified that years ago! 30 day net is the key."
Yeah right, I thought. There's one thing clear now, man: you definitely aren't Satoshi. Whatever HBO 'reveals'.
#note1wqv…gexs