Admit the paradox: We must recognise that an asset with a highly volatile value cannot at the same time be a standard of value. #Bitcoin @Bitcredit Protocol aims to solve the paradox. Study it.

Chapter 3: Stable Money

Prices always change. So why should a money be stable?

This is the kind of 'stable money' which will be the combination of Bitcoin + Bitcredit.

Chapter 3: Stable Money

Prices always change. So why should a money be stable?

1. All secondary functions of money can be deducted from its primary function as a medium of exchange, as Mises and Menger already explained. 2. Without (a chance of) fulfilling this at some stage, #Bitcoin will be just another memecoin without differentiated utility. 3. Probably the last coin to decline into oblivion but decline it will if we don't build and launch what's needed. (Which is Bitcredit Protocol.)

No chance. View quoted note →

Well done, @protom! View quoted note →

Money is for payments, medium of exchange. Payments for production and consumption, savings and investment. Clearly, we must improve Bitcoin for payments, not for hoarding as SoV. The #1 improvement needed is on volatility. Volatility has not improved in 10 years.

“It is difficult [for a nation state] to pursue an active economic policy as long as only commercial bills of exchange are permitted as cover for banknote issuance." I say: Well, exactly.

Hi @Chiefmonkey, so we aim to get Bitcoin flowing as MoE and remove the need for ramps.

Debit satoshis are present money. Credit satoshis are future money. Both serve equally fine for payments. Both have verifiable rules to ensure soundness.

/1 of 4: On circular Bitcoin economics: The (base money) commodity of a total monetary system – such as #bitcoin or #gold – does not need to be circulating in the production and supply chain. The 'Medium of Exchange' function is primarily served by the (credit money) currency.

Unpopular opinion: The "Store of Value" of a money aims at stability in time. Not "to the Moon" games. #bitcoin

Bitcredit Protocol aims to keep Bitcoin in circulation. No cashing out to fiat gift cards, Bitcoin all through the loop. No fiat anymore. View quoted note →