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Generated: 07:14:35

Hu₿ertus the Austrian npub1924x...4f6r

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:

2025-05-26 15:47:43 from 1 relay(s) 1 replies ↓

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epsql epsql@nsec.app npub1zhms...s67x

I think Bitcoiners have an aversion to free banking because it entails custody and temporary expansions of the money supply. I personally see the benefits in the free banking model that George Selgin proposes though

2025-05-26 17:10:21 from 1 relay(s) ↑ Parent 1 replies ↓ Reply

Hu₿ertus the Austrian npub1924x...4f6r

Free banking in Bitcredit Protocol is designed differently, rigorously by the rules of Austrian Economics. We must be strict on (1) verifiable redemption into #Bitcoin, (2) distinguishing between present #Bitcoin and future money, and (3) issuance only against Proof of Value, similar to #Bitcoin's PoW. The Modern School of Free Bankers don't seem to get this.

2025-05-27 06:12:51 from 1 relay(s) ↑ Parent 1 replies ↓ Reply

epsql epsql@nsec.app npub1zhms...s67x

Interesting, I'll read more about it!

2025-05-27 06:52:47 from 1 relay(s) ↑ Parent Reply