We cannot sustainably earn #Bitcoin and spend #Bitcoin while the real economy stays on foul fiat currency.
But how?
Orange pilling merchants to accept Bitcoin is one.
Hard.
But the regional Bitcoin Economies pushed by fired-up enthusiasts show that it can be done. Follow nostr:npub1l00kxrz9h56hss4krvs52z77z3rlj8prf0pdf0msxxpy5lj8rylq9xnypq to see the progress.
Now we also must orange pill 💊 the global supply chains. Make Bitcoin economies truly circular, bring them into international trade.
That's even harder.
But at Bitcredit Protocol we believe it can be done.
Why?
Because it must be done.
If you like near impossible tasks, join us. We will celebrate every single win.
Hi!
It is a community project so feel free to join the TG group @Bitcredit_community to find out more.
The wholesale part (Bitcredit eBills) is already open, the retail parts (Bitcredit Wildcat, Bitcredit eCash) will be opened upon main-chain launch.
https://github.com/orgs/BitcreditProtocol/projects?query=is%3Aopen
1. Yes.
2. No.
3. Full Whitepaper will be published upon mainchain launch.
Bitcredit Protocol is a free, open source community project.
We are Bitcoin maximalists in the original sense and follow Austrian Economics principles.
Anybody was and is welcome to join and contribute.
1. Yes, but modified to comply with Austrian Economics principles.
2. The wholesale e-bills sit on Nostr, the retail currency format is a novel form of non-custodial e-cash.
3. Yes, but not "discount". Mint. We will explain more upon mainchain launch.
4. Not free banking in Selgin's sense. In Bitcoin/Bitcredit we want banks strictly only as intermediaries of 100% money, not as fractional-reserve issuers.
Regarding Max’s article below:
Why is it so important that Bitcoin credit can bootstrap even where nobody has bitcoin, yet?
Remember the Greek Euro crisis of 2015, or the Cyprus haircut of 2013, or the Lebanese Central Bank Fraud of 2019.
In a monetary crisis, our powerful fiat enemies will simply declare bank holidays. Without access to bank accounts, nobody can “buy bitcoin”. This is a crucial problem, because in a fiat crisis is the best moment to switch to Bitcoin.
So here is the solution:
Even in a crisis, businesses still have access to their goods for sale, they actually must sell them before they spoil.
By selling on credit, they can create raw credit money, bills of exchange, which the Bitcredit Network of independent Wildcats can mint into fungible, divisible, and secure Bitcoin credits. Everyday people, workers, can get paid and can spend, the switch to Bitcoin is possible.
This is how we can kickstart Bitcoin economy in a fiat crisis.
Correct, and this is important.
Let’s analyse Ludwig Mises’s writing:
“…before the development of the bank-of-issue system, especially in England, bills circulated to a greater extent than afterward; that in Lancashire, for example, until the opening of a branch of the Bank of England in Manchester, nine-tenths of the total payments were made in bills and only one-tenth in money or banknotes.”
Note that with “money” Mises means gold. In nostr:npub1eajvs8x67vmzsnwaf9ltfgt59e6acmeztx9shduewvfgwftx8ahsagcd93, the base money is Bitcoin, not gold.
Payments can be made in e-bills, although Wildcat mints will reissue them fungible and dividable as non-custodial e-cash.
There will be no banknotes, the Bitcredit mechanism works with verifiably 100% backed and over-collateralised e-cash, denominated in #Bitcoin.
PS: We expect earlier, voluntary exchange of Bitcoin credits into Bitcoin base money usually at par, for a small fee.
Note that during a liquidity crunch free market exchange rates may diverge.
Despite our best effort to apply sound, strictly free market based Austrian Economics, such divergence would be indicative of a problem or mistake somewhere in the protocol.
This will then need some fix to the protocol. We will find out after launch. Be careful in the initial period while we all learn.
The 10 Rules of Bitcredit Protocol
(which Wildcat mints must adhere to):
1. Proof-of-work: Only commercial e-bills for goods already produced, invoiced to other businesses, qualify for minting of Bitcoin credits (MoE).
2. Verifiable terms: E-bill maturity must match expected reflux from buyers, and no more than 12 months.
3. Verifiable prices: Invoice prices must be plausible.
4. Bitcoin rails: Payment is in Bitcoin, irrespective of e-bill denomination.
5. Verifiable redemption: Upon maturity, e-bills must be verifiably paid via Bitcoin mainchain or Lightning Network.
6. Non-custodial: Not your keys? Not your coins, nor your credits.
7. Privacy by default: Fungibility of credits through bearer instruments and censorship resistance.
8. Decentralisation: Wildcat mints in the Bitcredit Network compete independently under peer supervision.
9. Game theory: A clowder majority can eliminate rabid wildcats through punishment transactions.
10. Future money: No contractual convertibility before maturity.
Are you a Bitcoiner?
Experience in B2B marketing?
Here’s a role for you.
https://bitcoinerjobs.com/job/2069019-marketing-lead-b2b-bitcoin-native-bitcredit-protocol
Bitcredit Protocol will stabilise Bitcoin.
It will be a real "stable" coin,
not a fiat fake "stablecoin".
Without an issuer,
without a central bank,
without volatility,
without debasement,
without censorship,
without interest.
Just free market mechanism.
One correct point you have, one is inaccurate.
We confirm that the Bank of England had already weaseled itself into the bill discounting business by 1912.
But Scottish free banking routinely discounted bills of exchange denominated in their own banknotes, even while the Bank of England held a monopoly on note issue in England.
So, the article here has a small error but the principle is correct.
However, it is completely wrong that the extension of credit (more precisely the creation of credit money backed by the proof-of-work of goods sold) "broke the last hard money."
The OP article correctly states that it was governments and central banks, statist forces, which broke hard money.
Politicians perverted the sound commercial practice of commercial bill discounting to be replaced by Fiat money creation against unsound, unfettered government debt.
Sorry everyone, we having some technical problem with Twitter Spaces.
They keep breaking up.
We will announce a better format for our next call, likely on Jitsi.
Bitcredit Community call starting in 2 hours.
If you want Bitcoin to monetise, then join the initiative.
Save the date for the upcoming Bitcredit Space. Learn:
— How Bitcoin can finance a real-world steel trade through Bitcredit Protocol.
— How an peer-to-peer e-bill turns into e-cash. Instant liquidity, zero bureaucracy.
– Q&A.
– How to join the community and bring Bitcoin into the real economy.
Orange pilling merchants is hard, but important work. Without acceptance, Bitcoin cannot win.
Now we also need to get production on Bitcoin rails. Without production, Bitcoin cannot win.
Bitcredit Protocol continues to tighten eBill towards Beta and progressing the eCash stacks towards MVP Alpha.
– Finished email-based verification of electronic signatures for eBill.
– Progressed self-sovereign eBill counterparty contact sharing.
– Advanced the mobile wallet payment flow and transaction list.
– Deployed a Wildcat instance for upcoming dev and Alpha testing.
- PWA decided insufficient for Wallet due to Apple walled garden blocking NFC and biometrics.
– Now preparing native app store setup.
Bitcredit gave a well-received talk yesterday for the "Future Forward" innovation festival at #WeXelerate in Vienna.
Topic:
The unpredictable and opaque traditional banking system and the promise of #Bitcoin.
People think money in a bank account is “theirs”. But it is not. A bank can freeze "your" money at any time, delay transfers, debank you, or block "your" funds, just like that, without giving any reason, let alone a valid one.
#Bitcoin fixes this. 
Bitcoin’s volatility is due to the fact that it is not yet used in global trade.
Once it becomes part of the real economy, Bitcoin will be the ultimate stablecoin.
The way to achieve this is by enabling Bitcoin based supply chain finance.
Join Bitcredit at Bitcoin MENA 2025 to learn more.
Please read carefully!
The Bitcredit Protocol is often confused with companies that offer Bitcoin-collateralised fiat loans.
They could not be more different.
Bitcoin-Collateralised Loans
These are fiat loans issued by state-regulated lenders.
Nothing about them escapes the fiat system.
- You hand over your Bitcoin as collateral, but the loan you receive is still fiat.
- The loans primarily serve wealthy Bitcoiners’ consumption, not production.
- High interest rates slowly eat away at your Bitcoin.
- If markets turn, your Bitcoin can be taken from you.
- In reality, it’s no longer truly your Bitcoin.
- You remain fully inside the foul fiat framework.
Nothing changes.
Bitcredit Protocol
Bitcredit is not a company. It is a software protocol for real economic credit—without banks, without lenders, without fiat.
- Credit is simply deferred payment between free companies, not issued by a provider.
- Businesses gain a powerful new liquidity mechanism, fully inside the Bitcoin economy.
- Every credit is backed by real goods (real proof-of-work) and secured by the payer’s actual wealth under global bill of exchange law.
- Credit is denominated and redeemable in Bitcoin. No more fiat, ever.
- Credit is used 100% for production, no exceptions, which means the Bitcoin economy grows faster than fiat economies.
- Discount rates are set by the free market, not a centralised lender.
- Financing becomes the lowest-cost option available.
- The system is either self-custodial (counterparty risk) or non-custodial (issuer risk), NEVER custodial.
- These mechanics stabilise Bitcoin and push volatility below fiat levels.
Everything changes.
Yesterday at GTR Commodities Conference in Geneva 🇨🇭:
Global Commodity Traders orange-pilled on #Bitcoin with Bitcredit Protocol in just 60 seconds.
They received a promissory note for 21,000 sats on Testnet3 for their Proof-of-Work and walked away with a real Bitcoin T-Shirt, after endorsing their eBill to the virtual "Satoshi Fashion Store".
BITCREDIT INTRO CALL 📢
🗓️ July 2nd | 1600 UTC
Join us to unpack the future of Bitcoin in the Real Economy!
Commodity traders, producers, merchants, economists, devs, innovators:
Set your reminder, and bring your questions!
AGENDA:
1. Intro to Bitcredit: Why a credit money layer is indispensable for business adoption and the future of Bitcoin.
2. Technical deep dive: eBill app, eCash wallet, Wildcat mints progress. Building on Bitcoin, Nostr, Cashu.
3. Live Q&A: Ask anything about protocol design or the expected business adoption path.
Bitcoin must stabilise.