Bills of exchange were capitalism's self-regulating credit mechanism for seven centuries, until governments monopolized money creation and destroyed the entire system.
The parallel economy has sound money and encrypted communication but still lacks the credit layer needed to finance production across time.
Bitcredit is the concrete protocol reconstructing bills of exchange on Bitcoin, closing the credit layer gap that prior posts have diagnosed.
Bills of exchange don't just provide elasticity within existing monetary systems; they can bootstrap entire economies that lack base money.
Modern banking systematically transformed from credit creator to deliberate gatekeeper, engineering $2.5 trillion trade finance gap while earning billions from derivatives.
Bills of exchange carried a built-in death date and extinguished themselves as goods reached market; modern debt compounds forever by design.
