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155 sats \ 6 replies \ @DarthCoin 1 Oct \ on: Bitcoin-redeemable Credit Money Layer Finds a Potent Sponsor bitcoin
Another scam in making....
2014 hype-cycle's scam-narrative: 1000 alternative non-Bitcoin uses for "the blockchain"
2017 hype-cycle's scam-narrative: 1000 alternative Bitcoin-like "blockchains" with the same use
2021 hype-cycle's scam-narrative: Bitcoin as SoV and 1000 "tokens" on top of a couple of other "blockchains" for "defi", "stablecoin" and "NFT" uses
2025 hype-cycle's scam-narrative: Bitcoin as SoV&MoE and 1000 "L2s" on top of Bitcoin's "blockchain" to improve that use
2029 hype-cycle's realization: Maybe we should have just stacked sats all along?
https://xcancel.com/giacomozucco/status/1834211165292924970
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0 sats \ 5 replies \ @telcobert OP 1 Oct
If you have a substantive comment or criticism, this is mostly just slander. Here is my response:
  1. _Bitcredit Protocol is not a "non-Bitcoin" use. _ Wrong. It uses the Bitcoin mainchain and the BTC unit. Exclusively.
  2. 1000 alternative Bitcoin-like "blockchains" with the same use Wrong. There is no 'alternative' blockchain. Bitcredit Protocol uses Bitcoin L1 with Taproot transactions.
  3. Bitcoin as SoV Wrong. It enables Bitcoin as a true MoE, this by logic needs a credit money layer.
  4. for "defi", "stablecoin" and "NFT" uses Nothing of the like. It is for the real economy. Credit money is indispensable for businesses in the production and supply chain, without it they cannot adopt bitcoin, which is easy to observe and verify if we briefly check reality.
  5. Bitcoin as SoV&MoE If you claim that "Bitcoin as an MoE" is a 'scam', I reply that "Bitcoin as just a SoV" is a scam. A huge, vile scam which seeks to enrich a few early whales and will knowingly leave most behind when the negative feedback loop kicks in upon declining demand. If we let another digital currency (a CBDC) win, due to our own ignorance.
  6. 1000 "L2s" on top of Bitcoin's "blockchain" to improve that use Wrong: The only L2 on Bitcoin is Lightning Network. Nothing else is needed. Bitcredit Protocol is an M1. It is an economic matter, not a technical one.
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0 sats \ 4 replies \ @DarthCoin 1 Oct
bitcredit bullshit is not needed. If I pay, I use directly bitcoin, over LN. Nothing else crap iou.
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0 sats \ 3 replies \ @telcobert OP 1 Oct
You, fine.
From your reply it is clear that you are not a business. The matter is very different when you must succeed in the production and supply chains. Without a credit money layer, businesses simply cannot adopt a base money. Which breaks Bitcoin circularity.
If we ignore the problem, some other digital money will win the race to adoption. We are already behind stablecoins even though they are just wrapped inflationary fiat currencies.
Please appreciate that this is an economic subject. Do your research.
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0 sats \ 2 replies \ @DarthCoin 1 Oct
@remindme in 3 years
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0 sats \ 1 reply \ @telcobert OP 1 Oct
Finally, it is ok to copy/paste somebody else's framework (if attributed correctly which you did) then it is a good idea to check with them first if they think it applies to a specific project, particularly if the original thinker actually knows said project reasonably well.
I did: https://xcancel.com/giacomozucco/status/1841147207719784833#m
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0 sats \ 0 replies \ @DarthCoin 1 Oct
you don't get it, but is ok. You can shove your "credit money" wherever you want. Are worthless IOUs anyways.
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