4a
Deleted Account
4af1b525766ce4400b3ec0bcf703081e2e698c0d307842113e3cf0a8cfa01af5
Deleted Account

👀 did not expect to show people a new perspective. cheers 🍻

no one is bullish enough. Get fiat out of your mind.

nostr:note1tetvlw4xsvcv5mj447tzv7jtakg9de9s48vdg06xn0d6sq2z34mq8l3xd2

Privacy as a service does not work. Protocols have to do all the hot potato work

nostr:note1qk05yyvfefwd8sd2n9a993cdp0n7pdkd0m5xz8hpvet9cx0w0tzqccjqd6

Replying to Avatar Tim Bouma

Hear me out.

Credit is not a bad thing. It enables the monetary system to expand and contract when necessary. This was the case in Canada where the private banking system could issue notes that were redeemed at par at the competing banks. This was especially important during harvest season (August-September) when an increase in currency was required to facilitate transactions of buying/selling grain.

If any of you have read George Selgin’s or Larry White’s work on private banking you realize how effective it was. In the US, it was a disaster because private banking was over-regulated to begin with, forcing state banks to bank only within their state, while in Canada, branch banking was allowed across the country. So if you were a grain farmer in Regina and someone paid you in Bank of Montreal dollars, you could deposit the full amount into your Bank of Nova Scotia dollar account at your local branch.

Not to say the system was perfect, but it was pretty damn good, until someone got the bright idea that we needed a central bank like the US, most likely to help the government borrow and fund large projects (wars).

How does this relate to below? We can return to the banking yesterdays of yore, but instead of paper credit notes (cash) we can use electronic credit notes (ecash). By virtue of their instant redeemability it keeps everyone honest and a system that keeps its equilibrium. If you want the theory, read Larry White’s book on private banking, which I did, and then applied the theory to what I am currently building, #nostr #safebox. nostr:note1z0lphpeqlkk0uwmmlyrpu35z6urj70xcvs3q2v0hmzme03ru85hsltvuxa

Credit is not popular at this time, and for good reason: the world is drowning in debt.

#ecash and protocols like #BitCredit will have their time to shine:

https://github.com/BitcreditProtocol

zaps based on ecash is the perfect use case, in my opinion.

it’s tech for the tiniest of transactions that accumulate.

an understated weapon of financial sovereignty.

nostr:note1meerhjsztts4jfzne5v78dxtpdxprc6dp0xzj04404h77zvlfn5q3a8sl4

the ability to send 1 sat of #ecash is something I appreciate.

It leaves no wallets with stuck sats.

nostr:note197zd0wr75hnjlkhg4ss8qkcy4fwp7lvlz7rvgdy3g8afthwqgf8qsts7y5

nostr:note1x6a7lz97qekxh94m03qrztecqshrj8yy2kzc0eq648vj4h82a6kqt5av5z

oh, thank goodness. we still have 13 years to enjoy the euro /s

wow. that’s cool

nostr:note1sptenzartkdgc5sh8wgvh99jwsvx50ks4kxswa3jeuvgz0a9pyfslrtu4n

if you find yourself looking for someone to hold your Bitcoin, it’s time to hold something else.

else you’ll get scammed into holding air while paying for the service.

be your own bank,

fund your own bank,

or buy an inferior asset