Tootfinder

Prem ghinde thinks that Alan is killing bitcoin.
Alan is paid in government money, and saves in bitcoin. He's an imaginary straw man.
Alan doesn't plan to spend his bitcoin though. Just stack it until he sells it. And this doesn't build the bitcoin network.
Without transitions, when the block rewards run out, there will be no money for miners. Miners will need fees, which means transactions.
Since he's paying in bank money, he's funding bankers instead of miners. He's encouraging retail to accept bank money instead of miners and lightning liquidity providers.
Unlike Alan, Prem lives on the bitcoin standard. All in. Spending sats because he has no bank money to spend. It can be done, he insists. Today. Mostly by using gift vouchers bought with bitcoin.
He's sad that people here are buying drinks from the hotel with bank cards instead of lightning.
Stop watching the price, he says, it's only a measure of government money's collapse. Change your yardstick. Account in bitcoin. Dollars aren't even money, they are currency. If you must measure, do it against gold.
Since moving to el Salvador he had learned Spanish, until he even dreams in Spanish. Try to dream in bitcoin.
Every transaction is a vote, so stop voting for bank money.
I think the main trouble with this is that tax event in every purchase, and the fact my employer won't set a wage in bitcoin even if they would convert to bitcoin to pay me.
#bitcoin #bitfest

The conference is over now. I likely wouldn't have come for just a bitcoin thing, but I am very interested in redecentralizing the web, so it's attachment to the nostr day pulled me in.
Everyone I met was friendly and interesting and seems much more interested in making a better money system than in making money for themselves.
Our government and bank money systems are dysfunctional in all kinds of ways which are often less visible than they should be too people using them, especially to those in Europe and America who benefit from the way those systems exploit the global south.
I'm not convinced that fixing that would end wars and fix broken government as some seem to think, but I am sure our money is the source of many problems.
There are many bright, well meaning, and intelligent people building to improve bitcoin in fascinating ways with the hope of having a parallel system to transition to. With lots of work still to be done.
Can it work?
I'm sure I don't know, and I'm sure even if it's a better system it'll come with it's own unfairness and cruelty. Money will continue to be a source of suck and worry.
I'm told that the bigger conferences are often full of shitcoin scammers and suit wearing banksters who are in fact all in it too get rich and rip people off, but I found none of that here.
Here there is a real community of people trying to make the world a better place and improve the lives of their neighbours and governance of their countries.
And in the end building community is the most radical and effective way to change the world regardless of the problems of it's money system.
I had a great time. Thanks to those organising it.
#bitfest #bitcoin

A panel on bitcoin treasury companies.
Because investment law makes it hard for institutions to buy bitcoin in their funds. You can't own BTC in you tax free ISA. So some companies that do hold bitcoin, notably microstrategy, became proxy investments. If you can't hold BTC you could maybe own a company that owns BTC instead.
Microstrategy started because it's ceo realized it's dollar treasury was being debased by dollar printing. So tried buying BTC instead, with fantastic success.
Copycat companies proliferated. They boomed and then busted. One panelist calls that a grift. A way to memeticly pump share price.
A line can be drawn between profitable companies just storing their profit in bitcoin Vs those raising debt to buy without having a profitable business.
Imagine a world transiting from using seashells for money to using gold coins. A company gathers seashells from investors to buy gold coins, which will do better than sea shells. Trouble is the next step where the company pays back it's investors with... More seashells.
If you own shares in the company, you do not own bitcoin. You'll just get more old fashioned bank money.
Still. It's worked as marketing, more people being convinced BTC has value.
If you do buy a treasury company, check it's bitcoin not "digital assets" including shitcoins.
#bitfest #bitcoin #bitcoinTreasuryCompanies

Geyser is a crowdfunding system.
Lots of history of patrons raising funds from the public for art works or public infrastructure.
Kickstarter and the like on the internet made this much easier. But it's all bank money which is conservative and restrictive. Not global. High fees and middle men.
So doing it freely with bitcoin makes some sense. Censorship resistance and global scope.
Geyser has been running and funding projects for a while. Non custodial and money goes to creators only if target reached in time, otherwise returned.
All open source in smart contracts on chain.
#bitfest #bitcoin #crowdfunding

Daniel prince from Once Bitten podcast on usury and banking.
Usury is lending money, charging interest.
Aristotle thought money was for use not for interest. He thought usury unnatural.
Many religious quotes saying not to extract interest.
"Money is power" but this is not gold or paper money. It's credit. Infinite money with interest. Which breaks everything.
Imagine a mortgage. Prices of homes inflated by available interest. You have to give a deposit but the bank creates ten times that in new money! Who gets rich here? Banks are printing money. That inflates prices and dilutes money purchase power.
Not just mortgages. Business loans, repair loans, global scale of all of this.
Not only did they create that money, the charge interest on the money they created! And if you don't pay, they take the house.
One judge found this all illegal, but was soon overruled and found mysteriously dead.
What can you do eh? Only opt out. Don't take loans. Use a money that stores value instead of losing it.
#bitfest #bitcoin #banking

Short panel on merchant adoption.
Hipster burgers here in Manchester takes bitcoin. The owner says people are generally more curious than dismissive.
Gresham's law implies that people spend their worst money first. They want rid of it. When you give merchants your bank money you give them the worst money. Be kinder to merchants!
Ben from lnbits, the first merchant point of sales lightning devices, says merchants are interested because they want to have a broad portfolio. Accepting bitcoin is the easiest way to get it, without "know your customers" banking rules.
#bitfest #bitcoin