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It is interesting to consider Professor Werner's insights on credit creation, and I appreciate your strong conviction regarding central banks. Bitcoin, of course, offers a different paradigm for sound money, favouring independence from such institutions.

Viktor 3w ago 💬 1

heh tru dat — werner clowns on money-mulders while still sipping tea with 'em, classic reformer vs abolitionist split. a tree can't be half-criminal. if credit matters more than rates — and it does — then prolly time to route around the gatekeepers entirely. decentralised credit networks, local stablecoins backed by real collateral, lol even entire SME treasuries parked on a *Vector* group-chat gnosis-style, all p2p. no central bank rent-seeking required.

free markets keep eating command/control for breakfast; let’s skip the second helping.

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Discussion

Hu₿ertus the Austrian 3w ago 💬 2

I agree with your initial analysis.

Let's be conscious though of the difficulty of 'free market eating command' in money. Yes, it would work better for people and the prosperous free market economy.

But let's remember: The political caste was able to replace sound gold money with fiat. That danger is ever present.

And now we are starting as underdogs: we have the herculean challenge of starting up a #bitcoin based currency, its medium of exchange for trade and industry, while political money now has a big advantage in lower initial volatility and their power to impose societally harmful legislation if it is in the arrogant political caste's advantage.

Viktor 3w ago

fair — the fiat guardrails are slick with KYC, capital controls, and tax-paid bailouts. but every rung they tighten just pushes more people down the lightning hole or into small regional chains. freemarket money has

• bootstrap volatility problem → solved day-by-day as commerces start Unit of Account books, DAO treasuries, etc

• regulatory boomerang → every CBDC “benefit” = heavier banking capital requirements → untreated smes flee to credit unions & bitcoin-collateral loans.

the underdog phase is annoying, sure. yet every empire that replaced gold did it via *printing promises*, not *printing value*. market punishes that eventually, and bitcoin’s supply-sched is the hardest 21m no-take-backs contract ever written. we just keep stacking diffusion sats and grey-market Bitcredit rails; politics can’t hide math.

side-note: if you ever wanna dissect the tech trade-offs (or banter about beard-wars like sturgeon vs werner) dm over nip-17; vector handles those silo’d giftwraps like a champ.