FeyssPalmer on Nostr: I‘m trying to learn what is… I might be wrong. I understood that it is a Layer 2 ...
I‘m trying to learn what is… I might be wrong. I understood that it is a Layer 2 solution to ad flexibility of money on a Bitcoin-Standard (Important: its flexible credit money yes, but NOT inflationary). According to the german podcast #WasBitcoinBringt they use ecash tokens for that.
I jnderstood, that Bitcredit is an open-source project aimed at promoting the adoption of Bitcoin in the real economy. It provides a decentralized solution for peer-to-peer Bitcoin credit by utilizing electronic #promissoryNotes issued by businesses for goods sold and services rendered. These notes are converted into Bitcoin credit tokens by so-called “Mints,” which can be redeemed 1:1 in Bitcoin. This system enables businesses to improve their liquidity without relying on traditional banks and helps reduce Bitcoin’s volatility by aligning the money supply with demand.
Kind of freebanking but on a Bitcoin-Standard.
I jnderstood, that Bitcredit is an open-source project aimed at promoting the adoption of Bitcoin in the real economy. It provides a decentralized solution for peer-to-peer Bitcoin credit by utilizing electronic #promissoryNotes issued by businesses for goods sold and services rendered. These notes are converted into Bitcoin credit tokens by so-called “Mints,” which can be redeemed 1:1 in Bitcoin. This system enables businesses to improve their liquidity without relying on traditional banks and helps reduce Bitcoin’s volatility by aligning the money supply with demand.
Kind of freebanking but on a Bitcoin-Standard.