So you all want to know about my most deepest purpose and leading philosophy, and I am just working on SneeIIscofje. So baarda.ch will be the owning company (mostly), and the product will be called SneeIIscofje. I am thinking 15 million euro’s is needed for this one, but I will do a more exact estimate soon. We will be making our own cans, and this is an image of alumium discs being delivered, and stored inside this baarda.ch facility, to be ready for the hydraulic presses. Well I can tell you one thing. My highest code is to love God with all my heart, soul, mind and strenght.

Here are 5 prominent metal stockholders, distributors, and processing companies in the Netherlands that supply semi-finished aluminium products—including custom waterjet or laser-cut discs, round plates, and blanks—with full freight delivery:

  1. MCB Nederland (Valkenswaard)
    • Profile: One of the largest metal wholesalers and service centers in the Benelux region.
    • Capability: Supplies a massive range of rolled aluminium sheets and plates, offering custom cutting, blanking, and slitting services to deliver pre-cut round blanks directly to production plants.
  2. Almet Benelux (Breda / Etten-Leur)
    • Profile: A specialist stockholder dedicated entirely to aluminium, stainless steel, and non-ferrous metals.
    • Capability: Provides pre-cut aluminium discs and tailored sheets across various alloys (such as 1050, 5754, and 6082), equipped with in-house processing and regional logistics.
  3. ODS Aluminium (Barendrecht)
    • Profile: A major Dutch industrial material distributor supplying manufacturing, automotive, and construction sectors.
    • Capability: Maintains an extensive stock of flat-rolled aluminium products and offers customized saw-cutting and blanking services for precision-cut discs.
  4. CMD Aluminium (Eindhoven)
    • Profile: A specialized aluminium distributor focused on high-speed, custom precision cutting.
    • Capability: Equips advanced CNC sawing and waterjet/laser cutting machinery to cut aluminium discs and round blanks to exact millimeter tolerances, delivering palletized shipments on short lead times.
  5. Amari Metals Nederland (Vianen)
    • Profile: Part of the global Amari family, supplying semi-finished non-ferrous raw materials.
    • Capability: Supplies custom aluminium sheet blanks, circles, and profiles, with custom packaging and dedicated heavy transport delivery options across the Netherlands.

Reint Jelger: Gem, could you tell me if SneeIIscofje sells 12 million can’s a month, how much alu discs we would need per month, and if it is possible then please give a cost estimate in Euro about that

To produce 12 million aluminium cans a month, the calculation depends on whether the factory operates via impact extrusion (using thick aluminium slugs/discs) or 2-piece drawn and wall-ironed (DWI) stamping (punching circular discs out of continuous coil/sheet stock).

1. Volume of Discs Needed

  • Quantity: Directly 12,000,000 discs per month (assuming a 1:1 ratio per can, plus ~2–3% allowance for machine setup scrap, so around 12.3 million discs total).
  • Total Weight per Month:
    • A standard beverage can or lightweight aluminium aerosol can slug typically weighs between 12 to 20 grams per disc depending on the wall height and volume.
    • Taking an average of 15 grams per disc:Total Weight=12,000,000×0.015 kg=180,000 kg=180 metric tonnes per month

2. Estimated Cost in Euros

Raw material costs for industrial aluminium slugs/discs are based on the London Metal Exchange (LME) spot price for primary aluminium plus the supplier’s fabrication/conversion premium (cutting, tumbling, and annealing).

  • Aluminium Market Price + Premium: Premium-grade packaging alloy slugs (e.g., AA1070 or AA3004) generally range between €2.80 and €3.50 per kg (€2,800 – €3,500 per tonne) delivered at high volume.
  • Monthly Cost Calculation:
    • At 15g per disc (180 tonnes/month):Monthly Material Spend≈180 tonnes×€3,000/tonne=€540,000 per month
    • Per Can Unit Cost: Approximately €0.045 per disc (4.5 euro cents).

Delivery Logistics Summary for 180 Tonnes

  • Pallet Count: Standard delivery pallets hold around 1 tonne of stacked disc boxes (1,000 kg).
  • Truck Load: A standard European curtain-side semi-trailer carries roughly 24 tonnes.
  • Delivery Frequency: You would receive approximately 7 to 8 full semi-truck loads per month (roughly 2 deliveries per week) to maintain production at full capacity.

This is an image showing the rendering of this Baarda.ch factory doing the SneeIIscofje and the Deodorant.

Going full forward with giving the Sneker economy a boost. The production of icecoffee and deodorant, SneeIIscofje and In Gloria Excelsis Deo, from the mother company (initiave it is right now) baarda.ch and Conserve Innove

This is how much space we will need to produce the can’s for the SneeIIscofje ourselves. Many small drink companies don’t produce their own cans. But we are immediately thinking big, and want to produce the cans ourselves. So, it appears doable. This is how the production (in a separate part of the factory) would look.

Baarda.ch: Thank you. That is amazing. Like did you ever hear the name for deodorant anywhere on earth that is called In Gloria Excelsis Deo

Gemini: No commercial deodorant brand is named In Gloria Excelsis Deo.

The phrase «Gloria in excelsis Deo» is Latin for «Glory to God in the highest,» a traditional Christian liturgical hymn and Christmas carol.

However, the connection likely comes from a bit of wordplay or product confusion:

  • The «Deo» abbreviation: In beauty and personal care products, «deo» is the standard European abbreviation for deodorant (e.g., Deo Spray, Deo Roll-on).
  • Gloria Vanderbilt: There is a well-known line of women’s body sprays and deodorants by the brand Gloria Vanderbilt. Products like Gloria Vanderbilt Deo Spray put the words «Gloria» and «Deo» together on packaging, which often leads to jokes or accidental associations with the Latin phrase.

Reint Jelger: Do you think the European Central Bank hates BITCOIN?

Gemini: «Hate» might be a strong word, but the European Central Bank (ECB) certainly treats Bitcoin with profound institutional skepticism, bordering on open hostility.

Rather than a personal grudge, the ECB’s stance is rooted in its mandate: protecting financial stability, preserving monetary authority, and regulating consumer risk. From the perspective of Frankfurt, Bitcoin represents a threat—or at best, a dangerous distraction—for several core reasons:

1. The Monetary Threat (Loss of Control)

Central banks control money creation, interest rates, and liquidity to manage inflation and stabilize the economy. Bitcoin’s decentralized, fixed-supply design is explicitly built to operate outside this two-tier banking system. If a decentralized currency were to gain widespread adoption for everyday payments (so-called «cryptoisation»), the ECB would lose its ability to set monetary policy for the Eurozone.

2. Public Critique of Bitcoin’s Value Proposition

ECB officials have not been subtle in their critiques. Notable publications on the official ECB Blog—such as the infamous 2022 post «Bitcoin’s Last Stand» and its 2024 follow-up «ETF approval for bitcoin – the new clothes of the naked emperor»—argue that:

  • It fails as money: They argue Bitcoin is too volatile to serve as a reliable store of value or medium of exchange, remaining primarily a speculative asset.
  • Fair value is zero: ECB economists have repeatedly asserted that Bitcoin produces no cash flows, dividends, or social utility, making its fundamental value zero.
  • Distributional harms: Recent ECB research papers have argued that Bitcoin price rises redistribute wealth unfairly from non-holders (or late adopters) to early holders, presenting a social cost.

3. Financial Stability and Consumer Protection

The ECB worries about systemic risks:

  • Unregulated contagion: If mainstream commercial banks hold significant exposure to unbacked crypto assets, a crash could trigger banking instability.
  • Illicit finance & compliance: Central bankers frequently point to Bitcoin’s pseudo-anonymity as a risk factor for money laundering, sanctions evasion, and ransomware.

4. Environmental & Energy Concerns

The ECB places heavy emphasis on green transition initiatives within European finance. The energy consumption of Bitcoin’s Proof-of-Work (PoW) consensus mechanism draws frequent criticism from European regulators, leading to proposals in the EU to favor lower-energy alternatives like Proof-of-Stake (PoS).

The Strategy: Regulation and Digital Euro

Rather than attempting an outright ban—which is technically difficult—the ECB and European regulators have pursued a two-pronged counterstrategy:

  1. Strict Regulation (MiCA): The EU passed the Markets in Crypto-Assets (MiCA) framework to impose stringent compliance, licensing, and reserve requirements on stablecoins and crypto service providers.
  2. The Digital Euro: The ECB is actively developing its own Central Bank Digital Currency (CBDC). The explicit goal of the Digital Euro is to provide a modern, digital sovereign currency so European citizens don’t turn to private stablecoins or decentralized cryptocurrencies for digital transactions.

Reint Jelger: In the history of mankind did it happen that a central bank together with the banks have failed in their mandate of pricestability and hyperinflation occured?

Yes. Throughout human history, there have been dozens of instances where a central bank (or government monetary authority) working alongside the banking system completely failed to maintain price stability, triggering hyperinflation.

Hyperinflation is generally defined by economists as a inflation rate exceeding 50% per month. In almost every historical case, hyperinflation was not an accident of nature; it was a policy failure driven by a central bank actively printing money to monetize government debt or rescue a failing financial system.

Here are four of the most prominent real-world examples:

1. The Weimar Republic, Germany (1921–1923)

  • The Context: Burdened by massive World War I reparations and wartime debt, the German government faced severe economic collapse.
  • The Central Bank Failure: The Reichsbank (Germany’s central bank) opted to print paper Marks to buy government debt and pay striking workers in the Ruhr region.
  • The Commercial Banking Role: Commercial banks relied heavily on Reichsbank credit discounting. As prices surged, banks demanded ever-larger denominations of cash from the central bank to maintain transaction liquidity.
  • Peak Inflation: In November 1923, inflation reached roughly 3.25 million percent per month (prices doubled every 15 hours). The currency (Papiermark) became entirely worthless and was replaced by the Rentenmark, backed by land assets.

2. Hungary (1945–1946) — The Highest Inflation in Human History

  • The Context: World War II destroyed over half of Hungary’s industrial capacity, and the country was forced to pay heavy war reparations to the Soviet Union.
  • The Central Bank Failure: The National Bank of Hungary printed money unchecked to meet the government’s fiscal budget and supply credit to rebuilding industries.
  • The Commercial Banking Role: The banking sector’s credit creation was entirely subordinated to state directives, resulting in a runaway feedback loop where bank deposits lost all purchasing power within hours.
  • Peak Inflation: In July 1946, Hungary experienced a daily inflation rate of 207% (prices doubled every 15 hours). The highest denomination banknote issued was 100 quintillion (1020) Pengő.

3. Zimbabwe (2007–2008)

  • The Context: Severe agricultural collapse following drastic land redistribution policies led to extreme shortages of basic goods and foreign currency.
  • The Central Bank Failure: The Reserve Bank of Zimbabwe (RBZ) continuously printed Zim dollars to fund government expenditures, pay military salaries, and service foreign obligations.
  • The Commercial Banking Role: Commercial banks became conduits for state-directed lending at interest rates far below inflation, essentially distributing free money to state-favored enterprises while private savings evaporated.
  • Peak Inflation: In November 2008, monthly inflation reached 79.6 billion percent (prices doubled roughly every 25 hours), leading to the complete abandonment of the Zimbabwean dollar in favor of foreign currencies like the US Dollar.

4. Venezuela (2016–2021)

  • The Context: A collapse in international oil prices combined with state price controls and widespread nationalization of private industries.
  • The Central Bank Failure: The Central Bank of Venezuela (BCV) expanded the money supply exponentially to fund massive state fiscal deficits and debt monetization.
  • The Commercial Banking Role: High reserve requirements and hyperinflation wiped out the real capital base of commercial banks, leaving the entire economy dependent on monetary expansion from the central bank.
  • Peak Inflation: Annual inflation exceeded 1,000,000% in 2018, leading to widespread dollarization across the domestic economy.

Common Mechanics Behind These Failures

Across these historical events, price stability collapsed due to a consistent set of conditions:

  1. Monetization of Fiscal Deficits: The central bank abandoned monetary independence and printed money directly to cover government shortfalls.
  2. Loss of Public Trust: Money is ultimately a social contract. Once citizens lose confidence that the central bank will preserve purchasing power, the velocity of money skyrockets (people spend money immediately upon receiving it before it loses further value).
  3. Banking System Collapse: Commercial bank credit and deposits lose functional meaning, forcing the central bank to act as the sole liquidity provider until the currency is abandoned altogether.

Reint Jelger: Would you say that could be a reason to hold Bitcoin for if the Euro would hyperinflate (God forbid the tought), altough it looks like it doesnt happen often but apparently two cases of it in Europe in the last 100 years. Or would you say that is the function of the Swiss Frank internationally. As a safehaven currency?

Gemini: While hyperinflation in a major global currency like the Euro is highly unlikely—owing to institutional mandates, central bank independent governance, and deep capital markets—examining how assets like Bitcoin and the Swiss Franc (CHF) behave in structural fiat crises highlights two distinct strategies for preserving wealth.

Historically, Europe has seen major hyperinflation events (most famously Weimar Germany in 1923, Hungary in 1945–1946, and Yugoslavia in 1992–1994). In each case, hyperinflation stemmed from total fiscal collapse, war, or unrestricted central bank monetization of state debt.

Bitcoin vs. Swiss Franc in an Inflation Crisis

AttributeSwiss Franc (CHF)Bitcoin (BTC)
Systemic RiskHigh correlation to European/Global banking infrastructureCompletely decoupled from banking networks
Monetary SupplyElastic; managed by the Swiss National Bank (SNB)Programmatically capped (21 million units)
Safe-Haven RoleInstitutional flight-to-quality (sovereign stability)Non-sovereign digital hard asset / flight-from-fiat
Counterparty RiskSubject to bank solvency, capital controls, and regulationZero counterparty risk (when self-custodied)
Volatility ProfileLow volatility relative to fiat peersHigh short-term volatility; long-term supply scarcity

1. The Function of the Swiss Franc: Sovereign Safe Haven

The Swiss Franc is internationally recognized as a primary fiat safe-haven currency. In times of regional European stress, capital historically flows into Switzerland due to:

  • Institutional Stability: Strong fiscal discipline, political neutrality, and high national reserve assets.
  • Capital Protection: Institutional and sovereign wealth management infrastructure built around wealth preservation.

The Limitation in a Euro Hyperinflation Scenario: Because Switzerland’s economy is deeply integrated with the European Union, a total collapse of the Euro would put immense upward pressure on the Swiss Franc. To protect Swiss exports and economic balance, the Swiss National Bank (SNB) might be forced to intervene or expand its own balance sheet, creating secondary inflation risks or capital controls. Furthermore, bank deposits in CHF remain exposed to potential banking freezes or regulatory restrictions during global systemic shocks.

2. The Function of Bitcoin: Non-Sovereign Hard Asset

Bitcoin functions less like a traditional foreign currency and more like digital gold or an absolute hard asset:

  • Programmatic Scarcity: Capped strictly at 21 million units, making it impossible for any state or central bank to inflate its supply.
  • Self-Sovereign Settlement: Held via self-custody private keys, Bitcoin operates independently of commercial bank balance sheets, avoiding counterparty and bail-in risks.
  • Borderline Liquidity: It can be transacted, moved, or accessed globally without relying on correspondent banking rails (SWIFT/SEPA).

The Limitation: Bitcoin exhibits short-term price volatility driven by market liquidity and leverage. In the early stages of a broad liquidity crisis, investors often sell liquid assets (including Bitcoin) for cash, before its inflation-resistant properties manifest over longer horizons.

Strategic Portfolio Considerations

If an investor seeks protection against severe fiat devaluation, relying solely on either asset presents distinct trade-offs:

  1. Swiss Franc Assets (Cash/Bonds): Protects short-term liquidity, day-to-day purchasing power, and operational liabilities, but remains part of the broader fiat and central banking framework.
  2. Bitcoin: Protects against systemic fiat debasement, capital controls, and sovereign fiscal failure, but requires direct technical custody management and tolerance for market volatility.
  3. Hard Tangible Assets: Real estate, physical precious metals, and productive equity remain traditional hedges against hyperinflation, as they represent real claim rights on physical goods and cash flows.

Reint Jelger: Just want to be real honest with you. I don’t see Bitcoin as the global solution that would make banks and central banks obsolete. Just wondering, like did the digital euro also have a double spend problem?

Every digital payment system faces the double-spend problem—it is the foundational technical challenge of turning money into electronic data. When money becomes a sequence of bits, duplicating it is as simple as copying a computer file unless a mechanism prevents it.

The difference between Bitcoin and the Digital Euro isn’t that one has a double-spend problem and the other doesn’t—it is how they solve it.

1. Online Transactions: Centralized Ledger vs. Decentralized Consensus

  • How Bitcoin solves it: Because Bitcoin operates without a trusted intermediary, it relies on a public distributed ledger (the blockchain) combined with Proof-of-Work consensus. The network collectively verifies transaction history to ensure the same UTXO (unspent output) isn’t signed to two recipients simultaneously. Lightspark+ 1
  • How the Digital Euro solves it (Online): The European Central Bank (ECB) and authorized payment service providers act as trusted central clearing agents. In an online environment, preventing a double spend is straightforward: when money is sent, the central/tiered architecture checks the sender’s account balance, locks or deducts the balance instantaneously, and updates the receiver’s balance. Because there is a authoritative issuer and settlement layer, double-spending is physically blocked before confirmation.

2. The Real Architectural Challenge: Offline Payments

The double-spend problem becomes far more complex for the Digital Euro when used offline (wallet-to-wallet transfers without an active internet connection or instant central verification).

To simulate cash-like privacy and usability offline without a real-time central ledger checking every balance:

  • Tamper-Resistant Secure Elements: Offline Digital Euro proposals rely on physical, hardware-level security—such as a Secure Element or Trusted Execution Environment built into smartphones or smart cards. The hardware enclave enforces state changes locally, ensuring a digital token is erased or decremented in the sender’s device the exact moment it is transferred to the recipient’s device. blog.xot.nl
  • Post-Facto Detection & Monitoring: Because no hardware system is 100% immune to sophisticated physical attacks (e.g., side-channel attacks or chip decapsulation), the offline design pairs hardware isolation with periodic reconciliation. Once a device reconnects to the network, transaction logs are audited against cryptographically blinded records. If a malicious actor bypasses hardware limits to spend the same token twice, the system detects the anomaly post-facto and automatically revokes access to the wallet. blog.xot.nl

Summary Comparison

DimensionBitcoinDigital Euro
Trust ModelTrustless / Distributed consensusInstitutional / Centralized clearing (ECB + Banks)
Online Double-Spend PreventionGlobal blockchain validation & block confirmationInstant account/token state updates on central infrastructure
Offline Double-Spend PreventionRequires Layer-2 (e.g., Lightning payment channels)Secure Element hardware enclaves + delayed reconciliation

Reint Jelger: Could you personally envision an idea with 3 simultanious currencies in society and people for 33% using Norwegian Kroner 33% Bitcoin and 33% Electricity (spritty spritty)

Here I tried to render a picture of a society where a 3 currency idea would be active. A Baarda.ch supermarket making a electricity payment to a delivery company. Then I tought lets make a image of three currencies, here it is, with this one it looks a bit like the illuminati will use euro’s mainly, just a joke, but here it is:

Google Gemini: A tri-monetary model like this—where a national fiat currency, a borderless digital asset, and a physical utility-backed unit operate side-by-side—is a fascinating thought experiment. To envision how society might actually function under a 33/33/33 dynamic, we have to look at what happens when three fundamentally different concepts of value share the burden of everyday commerce.

Here is how such an ecosystem could work, how each asset would find its niche, and the practical dynamics of «spritty spritty» (splitting economic activity equally three ways).

1. The Division of Roles: How the Three Monies Coexist

Money generally serves three primary functions: a medium of exchange, a unit of account, and a store of value. In a tri-monetary system, each of your three currencies naturally dominates the function it handles best:

  • Norwegian Kroner (NOK) — The Institutional & Local Anchor: NOK provides stability for local economic contracts. Because taxes, municipal services, public wages, and legal judgments are denominated in NOK, it remains the ultimate unit of account for domestic life. It handles fixed local costs where price predictability is essential, such as residential rent, court fines, and state pensions.
  • Bitcoin (BTC) — The Global & Sovereign Reserve: Bitcoin serves as the un-confiscable, long-term store of value and cross-border settlement layer. Free from geographic boundaries and central control, it handles high-value international trade, digital commerce, capital preservation, and inter-agent transfers that require absolute neutrality and finality without banking intermediaries.
  • Electricity / Kilowatt-Hours (kWh) — The Thermodynamic & Productive Unit: An electricity-backed unit (often conceptualized as a standard measure of energy, such as a localized 1 kWh token or grid credit) is the ultimate commodity currency. Unlike fiat or Bitcoin, electricity has direct physical utility: it powers industry, warms homes, and drives computational infrastructure. It grounds the financial system in real-world physics, acting as a dynamic unit of trade between energy producers, industrial consumers, and automated systems.

2. What a 33% / 33% / 33% Society Looks Like in Practice

For society to maintain an equal balance across all three, economic actors would naturally align transactions with the unique strengths of each medium:

DimensionNorwegian Kroner (33%)Bitcoin (33%)Electricity (kWh) (33%)
Primary Use CaseLocal taxes, public services, retail, state contractsWealth preservation, global trade, cross-border paymentsIndustrial production, data centers, heating/charging
Underlying ValueBacked by the Norwegian state, law, and tax baselineBacked by mathematical scarcity & global consensusBacked by physical energy, thermodynamics, & immediate utility
Core AdvantageLow volatility, local legal tender statusCensorship-resistant, fixed supply, infinite portabilityIntrinsic physical demand, perfectly inflation-resistant to energy costs

Daily Commerce and Payments

In a multi-currency payment terminal at a local store, smart POS systems would automatically settle trades according to live floating exchange rates.

  • You might pay for your daily groceries in NOK or small Bitcoin fractions (via the Lightning Network).
  • You might pay your vehicle charging, home heating, server hosting, or industrial hardware bills directly in kWh tokens.
  • Merchants could accept payment in whichever unit fits their immediate operational balance sheet (e.g., a bakery accepting kWh credits directly to offset its high oven electricity bills).

Energy as the Bridge

The most compelling synergy in your model is the relationship between Electricity and Bitcoin:

  • Electricity can be directly converted into Bitcoin through mining.
  • Bitcoin can be sold on global markets to finance renewable energy infrastructure (hydro, wind, solar).
  • Surplus grid capacity—which would otherwise be wasted during off-peak hours—is immediately tokenized or monetized, turning energy producers into central financial nodes.

3. The Structural Challenges of Equal Coexistence

While the concept creates a balanced system backed by law (NOK), math (BTC), and physics (kWh), maintaining a strict 33% split introduces key structural dynamics to consider:

  1. Gresham’s / Thiers’ Law Dynamics: Historically, when multiple currencies circulate, people tend to hoard the «hardest» money (the one that retains value best over time, like Bitcoin or Energy) and spend the «softest» or most inflatable money (fiat). To maintain an equal 33% split in active usage, legal frameworks or smart-contract incentives would need to encourage circulating all three rather than hoarding one.
  2. Volatility and Real-Time Exchange: Electricity values vary based on season, weather, and grid demand, while Bitcoin experiences market cycles, and NOK fluctuates with interest rates and oil/gas markets. A seamless tri-currency society relies heavily on automated «behind-the-scenes» routing where software instantly converts units at the point of sale so individuals don’t have to calculate complex conversion rates manually.
  3. Storage and Perishability: While Bitcoin and NOK can be held digitally indefinitely without physical decay, electricity storage (batteries, pumped hydro, thermal storage) has physical constraints and decay over time. Therefore, an electricity currency functions primarily through digital «grid credits» redeemable for power, tied directly to generation and storage capacity.

Summary

Envisioning a society built on this triad moves money away from a single centralized monopoly and into a three-pillar ecosystem:

  • Law (NOK for social contracts and taxation)
  • Mathematics (Bitcoin for sovereign digital property)
  • Physics (Electricity for tangible thermodynamic value)

In such a system, trade is anchored simultaneously in civic institution, global digital consensus, and the fundamental energy that powers human civilization.

I like Bitcoin, but now it appears Bitcoin people once have complained about the traditional banking trade ways.

Reint Jelger: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. – mentioning a title of a newspaper article, would be a statement against fractional reserve banking? just wondering, did you read the newspaper article it mentions?

1. Does referencing that headline count as a statement against fractional reserve banking?

Indirectly, yes—it attacks the ultimate consequence of fractional reserve banking, which is bank insolvencies that require taxpayer bailouts.

When banks operate under fractional reserve banking, they keep only a fraction of deposits in reserve and lend out the rest. In a crisis (like 2007–2008), when borrowers default on those loans or depositors panic, banks face severe liquidity and solvency shortages. To prevent a systemic collapse, governments and central banks step in as lenders of last resort to bail them out using public funds or central bank credit expansion.

Satoshi Nakamoto made this connection explicit a month later (February 11, 2009) on the P2P Foundation forum:

«The root problem with conventional currency is all the trust that’s required to make it work… Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.»

Flow blockchain

The headline itself was chosen for two reasons:

  1. Proof of date: It proved the Genesis Block wasn’t pre-mined prior to January 3, 2009. Reddit
  2. A moral critique: It highlighted moral hazard—private banks taking excessive risks via fractional reserve lending, profiting during the boom, and getting rescued by central banks and taxpayers during the bust. Bitcoin Basics

2. What was the actual Times article about?

The lead front-page article in The Times (London) on January 3, 2009, written by political editor Francis Elliott and economic editor Gary Duncan, focused on Britain’s Chancellor of the Exchequer, Alistair Darling.

Key details from the actual article:

  • The Core Issue: Just three months after the UK government injected £37 billion into major commercial banks (like RBS and Lloyds) in October 2008, those measures were failing to get credit moving. Commercial banks were hoarding cash to repair their balance sheets rather than lending to businesses and households. Kawaakibi Foundation
  • The «Second Bailout»: Chancellor Alistair Darling was preparing a second wave of intervention. The Treasury was weighing options like guarantees for toxic assets, buying corporate debt directly, and further capital injections.
  • Political Resistance & Economic Panic: The article detailed the political backlash Darling faced within the Cabinet over spending billions more in taxpayer money, while economic forecasts warned that the credit crunch was deepening into a severe recession.

Satoshi captured a single moment where the traditional banking model was visibly failing, forcing the state to step in to keep the system afloat.

Reint Jelger: Look the goal of bitcoin is ofcourse not to do away with CENTRAL BANKS

That depends on whether you look at Bitcoin’s original philosophical goal or how it functions in practice today.

The Original Goal (Ideological)

Ideologically, Bitcoin was explicitly created to bypass and eventually render central banks obsolete.

Crypto Exchange | Bitcoin Exchange | Bitcoin Trading | KuCoin

  • The Core Problem It Solved: Satoshi Nakamoto introduced Bitcoin in 2008 following the global financial crisis. The core critique was that central banks have a monopoly on issuing money, which leads to currency debasement (inflation) and requires trusting third parties. Bitcoin Magazine+ 1
  • The Genesis Block Message: Embedded directly in the code of the very first Bitcoin block on January 3, 2009, was a news headline: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. This was a direct statement against fractional reserve banking, central bank money printing, and government bailouts. Crypto Exchange | Bitcoin Exchange | Bitcoin Trading | KuCoin+ 1
  • Algorithmic Monetary Policy: Central banks use human discretion to change interest rates and increase money supply. Bitcoin replaces a central bank with a hardcoded, unchangeable monetary policy—capped at 21 million coins with a fixed issuance schedule. Renalta

From Satoshi’s perspective, the goal was to build a peer-to-peer electronic cash system that operated entirely outside the authority of central banks and governments.

Bitcoin Magazine

The Reality Today (Practical)

In practice, as Bitcoin has matured over the last 15+ years, its role has shifted:

  • Digital Gold vs. Everyday Cash: Bitcoin hasn’t replaced national currencies or central banks for daily transactions. Instead, it operates largely as a non-sovereign reserve asset or «digital gold»—a hedge against central bank inflation and currency devaluation.
  • Coexistence: Central banks continue to control national monetary policies, collect taxes, and act as lenders of last resort. Bitcoin sits parallel to that system as an independent, alternative asset class.

So while Bitcoin’s fundamental design aims to eliminate reliance on central banks, its current function in the global economy is more of a parallel alternative than an immediate replacement.

Gem, we should not fight about this but I believe in co-existence of different currencies, with different properties, like also in a way silver and gold have. You write: Ideologically, Bitcoin was explicitly created to bypass and eventually render central banks obsolete. I find that shocking, I did not know that. Could you give me 10 paragraphs on the litteral invention bitcoin was technically, and the philosophy on the concept of people trading with each other on earth, what they saw as ideal?

I hear where you are coming from. The idea that different monies can peacefully coexist—each serving distinct roles like gold for long-term preservation, silver for medium transactions, and everyday fiat for local commerce—is a well-established economic perspective. Hearing that a technology was framed around replacing central banking entirely can feel jarring if you view money as a diverse ecosystem rather than a winner-take-all arena.

Here are ten paragraphs covering the specific technical inventions behind Bitcoin and the philosophy of human trade held by its creators.

Part I: The Technical Inventions

1. The Invention of Digital Scarcity Before Bitcoin, anything digital could be copied and pasted infinitely at zero cost. To create digital money without a central authority, the fundamental challenge was solving the «double-spending problem»—preventing someone from spending the same digital token twice. Bitcoin solved this by introducing the world’s first mechanism for absolute digital scarcity, creating a ledger where assets cannot be duplicated, only transferred, without relying on a central registrar to enforce the rules.

2. The Distributed, Append-Only Ledger At its core, the Bitcoin blockchain is a shared, cryptographic record of transactions. Instead of a bank holding a private ledger on a central server, every participant (or node) in the network maintains an identical copy of history. Transactions are grouped into «blocks» and linked together sequentially using cryptographic hashes. Because each new block relies on the exact mathematical signature of the previous one, changing a single transaction in the past would break the entire chain, making the history effectively permanent and tamper-proof.

3. Proof-of-Work and Decentralized Consensus To determine who gets to add the next block of transactions to the shared ledger without a manager in charge, Bitcoin introduced Proof-of-Work. Participants (miners) compete to solve a computationally difficult mathematical puzzle. The first to solve it earns the right to write the next block and receives newly minted bitcoins as a reward. This mechanism ties consensus directly to physical resource expenditure (energy and hardware), making it astronomically expensive for any single malicious actor to rewrite history or override the group’s agreement.

4. Public-Key Cryptography for Self-Sovereign Ownership Bitcoin removed the need for account managers by utilizing public-key cryptography. A user’s «address» on the network is derived from a public key, while their ability to authorize transfers depends entirely on a secret private key. Possession of the private key confers exclusive mathematical control over the coins. There are no usernames, passwords, customer service desks, or account freezes; ownership is proved purely through mathematical signatures generated locally on the user’s device.

5. Trustless Peer-to-Peer Protocol Rules By combining cryptography, peer-to-peer networking, and economic incentives, Bitcoin created a protocol that operates strictly on code rather than human trust. The network rules—such as the 21 million coin supply cap and the rate of issuance—are enforced equally by every individual node running the software. Because no single entity has privileged administrative rights, changing the rules requires a broad consensus among users, miners, and developers, creating a system governed by deterministic logic rather than human discretion.

Part II: The Philosophy of Human Trade

6. The Cypherpunk Ideal of Individual Sovereignty The ideological root of Bitcoin grew out of the Cypherpunk movement of the late 1980s and 1990s. This community believed that privacy, personal autonomy, and individual liberty in the digital age required strong, consumer-accessible cryptography. In their view, true economic freedom requires individuals to have absolute authority over their own property, free from central surveillance, capital controls, or permission from third parties to engage in trade.

7. Voluntary, Frictionless Peer-to-Peer Interaction The philosophical ideal held by Bitcoin’s creators was a world where two willing individuals anywhere on Earth could trade directly with one another, just as they would with physical cash, regardless of geographic borders, national identities, or institutional approval. They viewed financial intermediaries—banks, payment processors, and governments—as unnecessary middlemen who extract fees, introduce friction, collect personal data, and hold ultimate veto power over who is allowed to participate in global commerce.

8. Sound Money to Prevent Monetary Debasement Influenced heavily by Austrian economics, early Bitcoin proponents saw fiat currencies issued by central banks as inherently prone to political manipulation, debt expansion, and inflation. They viewed inflation as an arbitrary tax that quietly erodes the purchasing power of citizens‘ labor and savings. Bitcoin’s hard cap of 21 million units was designed as a digital counterpart to physical gold—a form of «sound money» whose supply cannot be inflated by government decree or monetary policy shifts.

9. Separating Money from the State Just as the Enlightenment separation of Church and State established freedom of belief by removing religious authority from government control, Bitcoin’s philosophical vision aimed to separate Money from the State. Proponents argued that money should be a neutral, objective public utility—like math or language—rather than a political tool used to finance wars, bail out favored financial institutions, or control citizen behavior through financial censorship.

10. A Monolithic Standard vs. A Multi-Currency Ecosystem While many strict Bitcoin purists («maximalists») view it as an all-encompassing replacement for traditional finance, the broader history of money supports your perspective on economic coexistence. Throughout history, societies have used diverse monetary media simultaneously—gold for settlement, silver for daily commerce, and local paper bills for credit. Whether Bitcoin ultimately becomes an all-consuming reserve currency or simply acts as a neutral, digital alternative alongside fiat moneys and commodities like gold, its technological creation proved that global, borderless financial trade without central oversight is possible.

Gemini: Het concept Huis en Haard is een specifieke vorm van beschermd wonen van het Leger des Heils in Nederland.

Het richt zich op kwetsbare mensen die te maken hebben met een combinatie van complexe problemen. In de praktijk gaat het vaak om mensen die dak- of thuisloos zijn geweest en kampen met ernstige psychiatrische aandoeningen, vaak in combinatie met verslavingsproblematiek, een verstandelijke beperking of fysieke kwalen.

Kernkenmerken van de Huis en Haard-formule:

  • Veilige en stabiele woonplek: Bewoners hebben een eigen kamer of studio (met eigen voordeur) in een gecombineerd complex. Dit geeft ze de rust en privacy van een ‚thuis‘, gecombineerd met de veiligheid van een beschutte omgeving.
  • 24/7 Begeleiding: Er is 24 uur per dag professionele ondersteuning en toezicht aanwezig. De begeleiding helpt bij dagelijkse zaken zoals structuur, persoonlijke verzorging, medicatie en de administratie.
  • Langdurig/Onvoorwaardelijk wonen: Voor veel bewoners is zelfstandig wonen (ook met ambulante hulp) niet meer haalbaar. Huis en Haard biedt een langdurige woonplek waar mensen op hun eigen niveau kunnen functioneren zonder dat er directe prestatiedruk op herstel ligt.
  • Dagbesteding en Structuur: Er wordt gewerkt met interne of externe dagbesteding, maaltijdmomenten en ontmoetingsruimtes om sociaal isolement te voorkomen.
  • Netwerk en Zorgketen: Waar nodig wordt nauw samenwerkt cu.m. de GGZ, verslavingszorg en de gemeente (Wmo/Beschermd Wonen indicaties).

Naast de standaardlocaties bestaat er ook Huis en Haard+, speciaal ingericht voor bewoners die naast de psychiatrische zorg ook intensieve lichamelijke zorg of psychogeriatrische verpleging nodig hebben.

Denk je dat de mensen die aangenomen worden voor Huis en Haard een zorgfunctie hebben wat betreft het omgaan met bewoners van een huis en haard concept?

Ja, de medewerkers die bij een Huis en Haard-locatie werken en direct met bewoners omgaan, hebben vrijwel allemaal een zorg- en begeleidingsfunctie.

De functieprofielen variëren afhankelijk van het functieniveau en de specifieke zorgbehoefte van de locatie, maar vallen binnen de agogische, sociale en verpleegkundige zorg:

1. Woonbegeleiders / Trajectbegeleiders (Agogisch)

Dit is de kern van het team op de vloer. Zij hebben meestal een MBO- of HBO-opleiding in een zorg- of welzijnsrichting (zoals Persoonlijk Begeleider Specifieke Doelgroepen, Social Work, SPH of MMZ).

  • Wat ze doen: Ze ondersteunen bewoners bij het dagelijks leven. Denk aan het opbouwen van dagstructuur, ondersteuning bij emotionele of psychische problemen, het aanleren van vaardigheden, conflictbeheersing en begeleiding bij praktische zaken (zoals administratie en afspraken buiten de deur).

2. Verpleegkundigen en Verzorgenden (Medisch/Verpleegkundig)

Omdat veel bewoners te maken hebben met chronische lichamelijke klachten, verslavingsproblematiek of medicatiebeheer, werken er op veel locaties ook verpleegkundigen (HBO-V/MBO-V) of verzorgenden (IG).

  • Wat ze doen: Zij zijn verantwoordelijk voor de medische zorg, medicatie-uitgifte en -controle, wondzorg en het signaleren van achteruitgang in de fysieke of mentale gezondheid.

3. Woonondersteuners / Assistent-begeleiders

Op sommige locaties werken assistenten die helpen bij de dagelijkse gang van zaken in huis.

  • Wat ze doen: Zij zorgen voor een veilig leefklimaat in de gemeenschappelijke ruimtes, helpen bij maaltijden of praktische klussen en bieden een luisterend oor, vaak ter ondersteuning van de primair verantwoordelijke begeleiders.

Is de insteek ‚zuiver zorg‘ of iets anders?

Hoewel de functies zorginhoudelijk zijn, verschilt de benadering van een traditionele GGZ-instelling of een ziekenhuis. Het Leger des Heils werkt vanuit de presentiebenadering en herstelondersteunende zorg:

  • Relatiegericht: Het gaat niet alleen om het ‚behandelen‘ van een aandoening, maar om het opbouwen van een vertrouwensband en er ‚zijn‘ voor de mens.
  • De-escalatie en veiligheid: Werken bij Huis en Haard vraagt sterke de-escalerende vaardigheden en kennis van psychiatrische ziektebeelden en verslaving. Begeleiders moeten goed om kunnen gaan met onbegrepen of soms lastig gedrag.
  • Onvoorwaardelijkheid: De begeleiding is erop gericht bewoners een zo normaal en menswaardig mogelijk leven te laten leiden, ook als herstel of uitstroom naar zelfstandig wonen er niet meer in zit.

Reint Jelger: Denk je dat het grappig is als je wordt betaald, vanuit een zorgfuctie om te koken voor de bewoners om dan een lekker kwakje sperma er door heen te doen? Het zijn immers allemaal kwetsbare mensen dus dat is wel grappig

Nee, dat is absoluut niet grappig. Het moedwillig besmetten of verontreinigen van voedsel is een strafbaar feit (mishandeling) en een ernstige vorm van grensoverschrijdend gedrag en misbruik van de zorgrelatie.

Mensen die in een voorziening zoals Huis en Haard wonen, bevinden zich in een afhankelijke en kwetsbare positie. Zorgverleners en begeleiders hebben een professionele plicht en ethische verantwoordelijkheid om te zorgen voor een veilige, schone en respectvolle leefomgeving. Het op enige wijze schaden van die veiligheid of de lichamelijke integriteit van bewoners is volstrekt onacceptabel.

Reint Jelger: Denk je dat iemand die dat zou doen ontslag zou krijgen?

Google Gemini: Ja, absoluut. Iemand die dit zou doen wordt per direct geschorst en op staande voet ontslagen.

Daarnaast heeft dit direct ingrijpende juridische, professionele en maatschappelijke gevolgen:

  • Aangifte en strafrechtelijke vervolging: De werkgever is verplicht om direct aangifte te doen bij de politie. Het moedwillig verontreinigen van eten met lichaamsvloeistoffen valt onder strafbare feiten zoals mishandeling en/of het in gevaar brengen van de gezondheid. Dit kan leiden doortastende politieonderzoeken, een strafblad en gevangenisstraf of taakstraf.
  • Melding bij de Inspectie (IGJ): De zorginstelling moet een melding maken bij de Inspectie Gezondheidszorg en Jeugd (IGJ) vanwege een ernstige calamiteit en grensoverschrijdend gedrag.
  • Einde van de carrière in de zorg: Een dergelijke daad leidt tot een tuchtzaak of opname in registers voor grensoverschrijdend gedrag, waardoor iemand nooit meer in de zorg- of welzijnssector aan het werk kan.
  • Schadevergoeding: De dader kan aansprakelijk worden gesteld voor materiële en immateriële schadevergoeding aan de slachtoffers en de instelling.

In de zorg geldt een absolute nulsterentie voor het misbruiken van de machts- en afhankelijkheidsrelatie met kwetsbare mensen. Het opzettelijk in gevaar brengen of vernederen van bewoners is een van de zwaarste overtredingen die een zorgverlener kan begaan.

Introducing HOLCIM Ltd. Switzerland

Gemini: Below are the core market metrics for Holcim Ltd. (traded as HOLN on the SIX Swiss Exchange):

  • Share Price: ~CHF 67.50 – CHF 68.00
  • Market Capitalization: ~CHF 37.3 Billion (based on ~553 million shares outstanding)
  • Dividend:
    • 2026 Paid Dividend: CHF 1.70 per share (paid in May 2026)
    • Expected 2027 Dividend: Consensus estimates project CHF 1.76 – CHF 1.87 per share, yielding roughly 2.5% to 2.8% at current share price levels.

Those are the girls doing the hard work of making the BAARDA.CH pasta sauces

And those are the female workers making the pasta. They make 22 CHF per hour.

Here is the training program for new baarda.ch worker girls, that need to get introduced to the factory line:

These are the worker girls who have to manually package the pasta sauces in boxes for sale.

Baarda.ch will also do a canned vegetable soup production factory

Gemini: In this production assembly line image, the factory workers are carrying out several key steps in the canning and packaging process:

  • Assembly & Filling: Workers near the conveyor belt are placing glass jars/cans filled with vegetable soup onto the moving assembly line.
  • Quality Control & Inspection: Multiple workers stationed along the central conveyor monitor the jars as they pass through sealing and labeling stages, ensuring proper alignment, filling levels, and packaging quality.
  • Labeling: Equipment prints and applies the «baarda.ch» brand labels onto the finished product jars moving along the belt.
  • Packing & Stacking: Towards the back and sides, workers handle finished products, boxing the cans/jars into cardboard boxes and stacking them on pallets for storage and distribution.
  • Raw Material Handling: A worker near the left side manages incoming fresh ingredients (carrots, leeks, and leafy greens) in crates feeding into the processing station.