Building Bitcoin's elastic credit money layer (M1). Real democracy, not fake electoral party systems.
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Joined April 2009
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At the Drone Light Show at @LuganoPlanB, the VoiceOver was a mix of some true social commentary but also rehashed some very badly distorted economics.
The same NGU myths which I had debunked just a few hours earlier in my masterclass in the Hal Finney room (see attached):
“The Path of Bitcoin as True Medium of Exchange”.
What puzzled me while the loudspeakers blared:
How can such a distorted take of Austrian Economics still get to a valid conclusion: #Bitcoin could still have one more extraordinary round of NGU if we can get it to monetise.
The explanation is probably given by another beloved meme, the Honeybadger:
„Bitcoin does not care.“
I probably shouldn’t either.
Photo: „The Distorted View“
I am noticing that more and more bitcoiners start to talk correctly of #Bitcoin as "Base Money" (M0).
This understanding is key to prepare for the advent of Bitcoin Credit Money (M1), redeemable in Bitcoin and 100 percent backed by the real value of goods, as proof of work.
One man on the panel gets it @danieleDIAMAN: bitcoin is the ultimate finality asset since the gold system went down
“The promise of #Bitcoin is to escape the money printer, the Great Debasement.”
@RichardByworth at Lugano.
So … I’m off now for a day about “The Future of Capital” organised by @Blockstream and @Bitfinex in Lugano, 🇨🇭.
My job there is to explain how to get capital formation going without inflationary fiat money and traditional bank, in a #Bitcoin System.
Hu₿ertus the Austrian retweeted
Only 1 (one) person at a Bitcoin #meetup.
Same on a recent Bitcoin tour in Austria.
Surprised?
I’m not. I’ve been warning about this.
Actually, I predict 0 (zero), ultimately,
if we do not refocus on Bitcoin's true mission.
We did not just complain, we wrote the code.
Come hear my talk at @LuganoPlanB.
Die @Arbeiterkammer ist unterwandert von Sozialisten.
Für die Arbeitnehmer wäre wichtig, dass dort mehr Wirtschaftswissen einkehrt und die zerstörerische, fehlgeleitete Ideologie ausgemerzt wird.
Nation states everywhere are turning increasingly authoritarian. The formerly free world is seems to turn into a dystopian and dysfunctional nightmare.
But tyranny has no power over #Bitcoin. It is designed against suppression. Peer-to-peer, permissionless, pseudonymous. Bitcoin eCash, it's new credit money protocol is encrypted and blinded to protect everyday users from power hungry politicians spying eye.
Bitcoin turns dictators into powerless clowns 🤡.
This is extremely concerning.
"The second part of the guidelines prohibits individuals from moving their cryptocurrencies out of regulated wallets and into non-custodial or self-custodial wallets. These include hardware wallets such as Ledger and Trezor, and software wallets such as Trust Wallet and MetaMask."
Those in free societies should think very carefully before imitating the actions of a repressive and anti-democratic state. And those of us in the Bitcoin industry, especially those of us with a foot in the policy door, need to do all we can to make sure that our governments don't make the same mistake.
coinpedia.org/news/russia-ba…
Hu₿ertus the Austrian retweeted
UPDATE: The EU Council sent me a letter with its decision NOT to lift the sanctions on me. That means at least another year under sanctions.
The reasons they give should be a warning to everyone about where European authoritarianism is going.
Actually: The best thing is to get an EXISTING business to accept bitcoin.
Especially if it is a production business and not just a service business.
The former’s trade cycle helps to stabilise Bitcoin: earning, holding, spending.
