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Hu₿ertus the Austrian
npub1924x...4f6r
Bitcredit Protocol: No more on/off ramps Bitcoin for the real economy www.bit.cr
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hubertusVIE 2 months ago
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.
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hubertusVIE 3 months ago
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. image
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hubertusVIE 3 months ago
Nostr needs a structured debating format, similar to Kialo. The “twitter” format is too redundant, wasteful, and instills madness of crowds.
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hubertusVIE 3 months ago
"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 image
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hubertusVIE 4 months ago
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. image
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hubertusVIE 4 months ago
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: 
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hubertusVIE 5 months ago
Writing my keynote for next week in Istanbul. image
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hubertusVIE 5 months ago
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.
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hubertusVIE 6 months ago
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.
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hubertusVIE 6 months ago
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. View quoted note →
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hubertusVIE 7 months ago
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.
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hubertusVIE 7 months ago
Hi @Juraj – Radim did not know which Letter of Credit project you meant.
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hubertusVIE 7 months ago
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". image