Hu₿ertus the Austrian

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.

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

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/

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".

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!

Who still remembers Gavin's faucet? Anyone?

"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.

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

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 ( nostr:npub1eajvs8x67vmzsnwaf9ltfgt59e6acmeztx9shduewvfgwftx8ahsagcd93 ) in Prague. Any helpful tips appreciated. Happy to keep our convo open, unless you prefer DM.

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?

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'. nostr:note1wqv0q35l4v48ghcf64n5t9z2zh85sjndy8g23333fjk4czxr8k2q0kgexs

"A lot of people AUTOMATICALLY dismiss e-currency..." Satoshi wrote in 2009. Nothing changed. nostr:note1nxm6y3ft264rxclemtr3zstf7c3yfmj2qvv2cydecfc6dmugnt4s6swyhu

Next step: List unique capabilities of Bitcredit vs state-of-the-art, starting with Cashu and Fedimint.

SoV without (hope for) MoV is not enough.

Thanks to Rahim Taghizadegan of Scholarium for organising an insightful economists' walk to the grave of F.A. Hayek in Vienna 🇦🇹 . I had not even known that it's just 2 km from where I live, literally the next hill over.

It is so annoying that "to grok" has been snatched up by a commercial brand and changed its meaning. Now we need something else to replace Heinlein's genius word.

Why do so few in Bitcoin today bother to look at proper Austrian Economics? Hal still knew it. - free banking is necessary - limited credit is necessary Bitcoin cannot monetise without. The real economy cannot do without. Mises put it clearly:

#Bitcoin is early. #Bitcredit is even earlier. If you want to use Bitcoin in business, join the open Bitcredit Beta user community. nostr:note1wpsgd2yf3kexahpdnnl2mmqjqztgzgpytpv6073amz535985dqgsgz76n3

Small but cool Bitcoin event today in Austria's Sunshine State, Burgenland. Plus 8 Bitcoin companies exhibiting. Shoutout to @Matthias_Reder for bringing the community together. Let's hear it! #BitcoinBgld

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 nostr:npub1eajvs8x67vmzsnwaf9ltfgt59e6acmeztx9shduewvfgwftx8ahsagcd93 aims to solve the paradox. Study it.