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10 sats \ 20 replies \ @Lux 7 Dec \ parent \ on: A World Without Money bitcoin

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 \ 19 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.

0 sats \ 18 replies \ @Lux 7 Dec

I watched this talk now So a "new corporate entity" will be made for every loan with a structure similar to bitcoin escrows, something like a Trust formed for each loan. This could work, but still needs to adhere to regulations, and needs a trusted secure custodian. i'm watching

0 sats \ 17 replies \ @DarthCoin 7 Dec

The question is very simple: if you give your BTC, even in a trust or escrow, what are you going to use? A bullshit token? We are going back to IOUs, but this time more sophisticated, electronic, digital and maybe easier to fool people.

I DON'T BUY THIS WITH BITCREDIT. All this idea is pushed around by the same banksters, that now are "renamed" in Bitcoin CEOs... that want again the control of the masses. Just look who is behind this idea... follow the money.

But they will fail, because their strategy is to adapt Bitcoin to the same finance system instead of adapting the world to Bitcoin system. The only they can fool people to create these "reserves / trusts / whatever call it banks" where (stupid) people will just give them their BTC and in exchange will get a so called "bitcredit" bullshit token.

The whole (wrong / deceitful) narrative the push is that Bitcoin doesn't have enough units to be used as money. They are wrong, in fact they are smart, only wants to fool people again and again.

People must understand the Bitcoin system that is very simple: IF YOU DO NOT HAVE IT - YOU CANNOT SPEND IT. You spend ONLY what you have, when you have. Do not create debt if you cannot pay it in the first place.

10 sats \ 16 replies \ @Lux 7 Dec

Darth this is not a L2 or payment network or to be used to pay for living costs. It's for merchants to facilitate investments and trade.

0 sats \ 15 replies \ @DarthCoin 7 Dec

It's a trap.

@remindme in 5 years

10 sats \ 14 replies \ @Lux 7 Dec

Could be, we'll see. I need to see the details and how it works in practice. Could be useful to start a business and so on. There's gonna be lending with Bitcoin, like with all the monies in the past. At least we should try to make it as trustless as possible. And not repeat the mistakes.