So now MapleAI via routstr paid with ecash instead of a login?

SHH!!! That's my strategy... Don't tell everyone... Although... "Act"?

Liana wallet 🧠

does this make it compatible with wizardsardine's wallet (forgot the name) or just obsolete it?

#finance #bitcoin Hey Nostr, GM. Did you know that every currency is made up of 3 different types of money? A bit like Bitcoin has on-chain, lightning, and custodial, but the difference is that the fiat currencies aren't bound like on-chain and lightning, they're linked like on-chain and on-exchange. Worse still, there isn't a single source of truth where we can see the total amount of currency, not even the central bank/fed. There is an arbitrary amount of all three currencies, each with specific properties making them useful for their part in the economic system, and all that matters is that there is enough of each to keep each other liquid. There is cash: there must be enough for no one to be wanting but realising that there isn't enough cash in circulation. But cash demand is decreasing and there is certainly not enough to go around if everyone suddenly wanted to use it exclusively. There is bank deposits: this is where the most currency is. These deposits are like ecash, only useful within the mint, can be sent between users of the mint, but of course, it's not private. There needs to be a glue to let people send payments between banks. Enter reserves: a bit like units on the Lightning Network. Every mint has a finite amount. Unlike hopefully-honest full reserve ecash mints, banks are under no illusion or obligation to hold one to one reserves to deposit. They don't settle instantly, they settle periodically and they only need to process the difference of a batch of payments each time. Naturally, there is usually less reserves than there are deposits. Cash and reserves makes up the total of your central bank's issued money. Deposits make up the most of the money in the economy, but most of it is offset by debt in the book balances. Of course, debt can default, it can have a long term and the kicker is that if it can be securitized and sold to investors, then banks can use debt to issue more debt. Debt can be paid of with debt, so that money is as good as permanent. If a bank can't settle a payment with a bank using its reserves, it can lend reserves from another bank. The system is just built to not let anything limit anything. Yes there are rules and regulations to make sure everything stays somewhat on track, but this is just so the central bank knows who is ussuing currency on their behalf so they can give it legitimacy. If the economy relied exclusively on cash tomorrow, it would collapse and the money supply would shrink so hard. If people relied on on-chain bitcoin only tomorrow, the economy might still crash as it isn't as liquid as lightning, but the money supply would stay the same.

Trading.

You forgot to #feetstr. Are we still doing that?

GM. (Kinda actually good night, but maybe good morning to some of you 🌞) I've been trying to get my head around "what is money" but in a way that is relatable and about an hour into re-watching The Big Short, I had a brain wave. 🧠⚡ I boiled the key things to understand down to 3 main things: 1. Reserves: not your cash deposits, not gold, a sort of private money between your central bank and the commercial banks it serves. 2. Securitization: the idea of taking a loan and turning it into a saleable financial product and creating "derivatives" so that it can turn into capital for banks. 3. Capital controls: banks don't rely on reserves to limit their loans anymore, but that doesn't make them infinite loan machines. They have capital controls and yet this plus securitization supercharges inflation. I am planning to write this up into an ebook or something. I'd love suggestions on who to reach out to for fact checking and general advice as it is the first time I've ever done something like this. Here is my "foreword" that introduces the problem: 👇

I used to think the global debt was all of the money we was borrowing and not paying back when I was younger. I think it's intentional language and it's fucking disgusting.

Them nails don't look cheap either.

Okay, I can probably reproduce and find and give as many logs as I can. Prefer here or as DM or somewhere?

And I'm following you now incase that is why I did not see it on my other phone yesterday.

I'm using librewolf but no extensions, just bought some ecash via lightning.

I can see this.

Sad. Maybe can point me in the right direction.

I think I'm going to go AWOL for about a week. Just read about "resetting" my dopamine and I want to boost my productivity. Nostr doesn't have the "algorithm", but it is scrolling. See you next week 😅

Lol. As we always say... Rules for thee but not for mee!

## Foreword Money appears simple. We use every day without question: a note in your pocket, numbers in your bank app, the certainty that payments just work. Money today is not just cash or digital entries, it is built on promises, regulations and surveillance. Words like "reserve" once meant gold in a vault. Later they referred to balances with a central bank. Today they are digital entries in the central bank's books, visible only to commercial banks. The word remained, but it's meaning shifted with every era. The word "loan" once meant a bank parting with deposits it held. Today it means the bank creates new deposits created from nothing; money that did not exist until the promise was made. In this way, deposits and cash have become indistinguishable from loans, since the supply of each grows together with debt. What we hold as money is now tied to an expanding system of financial products and instruments. Fiat money is not just currency. Its character is shaped by a dense and evolving framework of rules, institutions and oversight. These rules decide not only how money is valued, but also how it can be used: whether in cash, through bank transfers or on credit. Over time, these forms of access have become more constrained, less equal, and more complex, leaving individuals with little control over the system that governs their daily transactions, undermines their savings, and pushes them towards investing just to keep up. To understand money today requires looking past the cash in your hand or the number in your account. It means tracing how reserves changed meaning, how loans became indistinguishable from deposits, and how regulation and surveillance became defining features of the financial system.

BAMBOOZLED!!!