reply on: A World Without Money \ stacker news ~bitcoin

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0 sats \ 29 replies \ @telcobert OP 6 Dec \ parent \ on: A World Without Money bitcoin

'why should prices be stable?'

That is not the question. Prices fluctuate all the time, for a lot of real reasons.

The problem is that prices are being distorted by central banks and their fiat money, thus the information they convey. This causes all kinds of huge problems, as listed in Chapter 1. Later chapters will deal with these problems in greater detail.

100 sats \ 28 replies \ @Lux 6 Dec

academics and their collectivist theories... a school is a large group of fish, food for whales

Bitcoin fixes this

0 sats \ 27 replies \ @DarthCoin 6 Dec

Just look what OP was promoting previously... #707088

100 sats \ 26 replies \ @Lux 6 Dec

consequence of years of academic programming. that's the goal, turn bitcoin in a currency they can control. that's why all these famous zionists are suddenly pro crapto

0 sats \ 25 replies \ @telcobert OP 6 Dec

Note to self: DON'T FEED TROLLS.

31 sats \ 24 replies \ @Lux 6 Dec

I took a better look at this BitCredit, but you guys really make it difficult to understand with no details in public. If I understand correctly, it's trying to build digital negotiable instruments using Bitcoin? Aren't Bitcoin negotiable instruments already perfectly doable? Is the novelty here just adapting to https://uncitral.un.org/en/texts/ecommerce/modellaw/electronic_transferable_records ? Help me understand, please

200 sats \ 23 replies \ @telcobert OP 6 Dec

Q: it's trying to build digital negotiable instruments using Bitcoin? A: Correct. Commercial bills (ebills) monetise 'real credit'. That's needed for goods to flow and is currently non-existent in Bitcoin, making it impossible to use for the real economy.

Q: Aren't Bitcoin negotiable instruments already perfectly doable? A: Bitcoin is a negotiable 'commodity'. A 'negotiable payment instrument' is something very different: a claim to future money (can be Bitcoin) which is freely transferrable by bearer.

Q: Is the novelty here just adapting to MLETR. A: Not a novelty, just digitalisation. Worked like a charm for centuries before fiat money. These are a 'raw material' for the production of the credit money needed for trade and industry. (See article.)

Clearer?

Q: "really make it difficult to understand with no details in public." A: These chapters are the effort to make it easy to understand. Follow and have patience, it will all be explained in time before it's switched on next year.

PS: And thanks for genuine questions, it helps the project to learn what needs explaining.

10 sats \ 22 replies \ @Lux 7 Dec

Thanks very much for the answers. Clearer. I have no doubts this is coming to Bitcoin. Eager to see how it's implemented. Still, we have to be somewhat careful, otherwise history will repeat.

111 sats \ 21 replies \ @telcobert OP 7 Dec

My exact words. That's why the missing part is being built on Bitcoin, adhering to the relevant principles of bitcoin: decentralised, verifiable, non-custodial, censorship resistant.

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