@ f25afb62:8d50c6e7

https://i.postimg.cc/6p0S1LrR/Kiwi-bitcoin.png # Modernizing the Kiwi Dollar: How Kiwibank Can Lead the Future of Money ## **A Nation at an Inflection Point** Kiwibank’s upcoming capital raise offers New Zealand a rare opportunity to **future-proof its currency and banking system**. With up to **$500 million** in new capital on the table, the government aims to strengthen Kiwibank as a competitor to the dominant Australian-owned banks. Finance Minister Nicola Willis has emphasized that **more capital means greater competition**, which could **drive down interest rates** and improve banking services for everyday Kiwis. But this is more than just a competition play—it's a **chance to radically modernize the Kiwi dollar itself**. By integrating **Bitcoin's open infrastructure**, Kiwibank could issue a **digitally native, globally liquid, and ultra-secure NZD**. This wouldn’t require reinventing the financial system but rather **leveraging existing and proven Bitcoin technologies**. The result? A financial system that **empowers Kiwis**, attracts global investment, and **puts New Zealand at the forefront of monetary innovation**. This article outlines a **practical, step-by-step roadmap** for how Kiwibank could: 1. **Tokenize the New Zealand Dollar (NZD)** using **a Bitcoin sidechain like Liquid**. 2. **Issue Kiwi eCash**, providing **cash-like digital money** that’s private and fast. 3. **Enable global NZD payments via the Lightning Network**, making NZD as **instant and accessible as Bitcoin itself**. 4. **Unlock new Bitcoin-powered business models** that **expand Kiwibank’s revenue streams**. This isn’t a distant dream—it’s **completely feasible today**. The question is: **Will New Zealand lead or lag?** 🚀⚡🇳🇿 --- ## **Kiwibank’s Capital Raise – A Launchpad for Innovation** Kiwibank is raising fresh capital **to strengthen its position against the Big Four banks**, but this money could do much more than just improve traditional banking services. **It could lay the foundation for a digital-first Kiwi dollar, designed for the 21st century.** New Zealand is actively **courting global investment**, simplifying its **“golden visa”** program to attract **wealthy innovators and investors**. If Kiwibank integrates **Bitcoin-powered financial infrastructure**, it would send a **strong signal that New Zealand is open for high-tech finance business**—drawing interest from: - **Kiwi citizens**, who would benefit from a **better, faster, and cheaper** banking system. - **KiwiSaver funds and institutional investors**, who would see Kiwibank as a **bold growth investment**. - **Global Bitcoiners**, who might **invest in NZ** or move their wealth into a **Bitcoin-friendly jurisdiction**. Simply put, **this capital raise is a chance to future-proof the Kiwi financial system**—and Bitcoin provides the tools to make it happen. --- ## **Step 1: Tokenized NZD on a Bitcoin Sidechain** The **first step** in modernizing NZD is **bringing it onto Bitcoin rails** by issuing a **tokenized NZD** on **a Bitcoin sidechain** like **Liquid** or **a custom-built KiwiBTC sidechain**. ### **How It Works** - Kiwibank, alongside other NZ banks, could **issue digital NZD tokens**, backed **1:1 by reserves**. - This would be **secured on a federated Bitcoin sidechain**—a **fast, low-fee** network pegged to Bitcoin. - Transactions would **settle in seconds instead of days**, with **confidentiality features** ensuring **financial privacy**. This is **not an experiment**—it's **already being done**. **Tether (USDT) uses Liquid today** to issue stablecoins, and the same **proven tech** could be used to issue NZD. ### **Why This Matters** - **Faster Payments:** Move NZD **instantly**, unlike today’s slow banking rails. - **Global Liquidity:** Anyone, anywhere, could **hold and transact NZD digitally**. - **No Need for a CBDC:** The NZ government **retains full control** over monetary policy, without creating a **central bank-controlled digital currency**. This **solves many of the problems** the Reserve Bank of New Zealand has been grappling with in its **CBDC research**—by **using open Bitcoin tech instead of building from scratch**. --- ## **Step 2: Kiwi eCash – Digital Money With Cash-Like Privacy** While a **tokenized NZD** would **revolutionize banking and business payments**, **Kiwi eCash** would do the same for **everyday transactions and person-to-person payments**. **Kiwi eCash** is a **Chaumian eCash system**—a **digital cash** that **preserves privacy and security**, just like physical banknotes. It’s based on **battle-tested cryptographic blind signatures**, meaning: - **No bank account required.** - **No transaction tracking.** - **Total financial privacy.** ### **How It Works** - **NZ banks (or independent issuers) mint Kiwi eCash tokens**, backed by **tokenized NZD or Bitcoin**. - These tokens are **held in a wallet and can be spent freely**—just like handing someone cash. - Banks **don’t see individual transactions**, ensuring privacy. - Multiple issuers (banks, credit unions, or fintech firms) could **offer interoperable Kiwi eCash mints**. This is already happening with **Bitcoin eCash mints like Cashu and Fedimint**, and the **same concept** can be applied to **NZD**. ### **Why It Matters** - **Digital cash with cash-like privacy**—protecting **financial freedom**. - **Fast, free transactions**, perfect for **micro-payments and daily spending**. - **Works offline**, unlike today’s banking apps. - **Interoperable across banks**, reducing monopolistic control. --- ## **Step 3: Bridging Kiwi eCash to Lightning – NZD at the Speed of Bitcoin** The **final piece** of the puzzle is **making Kiwi eCash as fast and global as Bitcoin itself**. By **bridging Kiwi eCash to the Lightning Network** (via **Taproot Assets**), NZD transactions would become: - **Instant:** Settle in **milliseconds**, anywhere in the world. - **Global:** Easily convert NZD to **any currency, anywhere**. - **Ultra-cheap:** Fees near **zero**, unlike Visa or SWIFT. ### **How It Works** - Kiwi eCash is **wrapped into Lightning channels** using **Taproot Assets**. - **Payments flow instantly over Lightning**, just like Bitcoin transactions. - Merchants, individuals, and businesses can **send and receive NZD globally** in a **Bitcoin-compatible format**. This **integrates NZD directly into the Bitcoin economy**, giving it **instant global reach**. --- ## **Step 4: New Bitcoin-Powered Services for Kiwibank** Beyond modernizing NZD itself, **Bitcoin infrastructure unlocks entire new revenue streams** for Kiwibank: 1. **Bitcoin Custody:** Offer **multi-sig vaults** instead of **risky single-key custody**. 2. **Bitcoin Lending:** Let customers **borrow NZD against their BTC**—a proven model. 3. **Lightning Yield:** Earn **fees by providing Lightning liquidity**. 4. **Collaborative Bitcoin Custody:** Offer **collaborative custody** where customers **retain control** and Kiwibank is available for **recovery assistance**. 5. **Digital Securities**: Help **Kiwi business raise capital** with **digital securities on the Bitcoin sidechain** and facilitate **secondary market liquidity** of these securities. Each of these **aligns with Bitcoin’s strengths** while **expanding Kiwibank’s business model**. --- ## **A Bold Vision to Future-Proof the Kiwi Financial System** This **isn’t just an idea**—it’s **a path forward that’s 100% possible today**. - **For New Zealanders:** A **faster, fairer financial system** that puts power back in their hands. - **For Investors:** A **banking innovation play**, positioned for growth. - **For Bitcoiners worldwide:** A **Bitcoin-friendly financial hub**, with real-world Bitcoin services. Kiwibank has **a golden opportunity** to lead this transformation. The technology is ready, the capital is available, and the global financial landscape is **ripe for disruption**. The only question left is: **Will New Zealand lead, or will we be left behind?** 🚀⚡🇳🇿 --- ## **Sources** 1. Kiwibank Capital Raise: [NZ Lawyer](https://www.thelawyermag.com/nz/practice-areas/banking-and-finance/kiwibank-to-receive-500m-boost-as-government-targets-greater-competition-in-banking-sector/517422) 2. New Zealand Active Investor Visa: [NZTE](https://www.nzte.govt.nz/page/investor-migrants) 3. Taproot Assets & Lightning: [Lightning Labs](https://docs.lightning.engineering/the-lightning-network/taproot-assets) 4. Bitcoin Sidechains & Liquid: [Blockstream](https://blockstream.com/elements/) 5. Bitcoin eCash (Cashu/Fedimint): [Cashu](https://cashu.space/) --- originally posted at https://stacker.news/items/911023

@ 758d2216:8f255388

So, I got kicked off X. Not for anything cool like inciting a coup or posting cryptic manifestos—just for trying to help a friend and then daring to tweak my username. Apparently, that’s the kind of high treason that gets you permanently banished from the digital kingdom, where rules are arbitrary and appeals are a myth. It all began when a buddy of mine got whacked with a DMCA suspension. Something about sharing content that offended the copyright gods—I don’t know, I wasn’t paying that much attention. Being the bleeding-heart idiot I am, I figured I’d play the hero and advocate for his return. A few tweets, some tags, nothing fancy. Turns out, the algorithm wasn’t a fan of my altruism. Next thing I know, I’m flagged as spam and shown the virtual door. Permanently. No trial, no explanation, just a big “you’re done” from the faceless overlords of X. I didn’t take it lying down—at first. I fired off appeal after appeal, explaining that I wasn’t a bot, just a guy trying to do a solid. Crickets. I even got a lawyer to draft a sternly worded letter, because nothing screams “I’m not a spammer” like a legal invoice. Spoiler: it didn’t work. The void didn’t care. Desperate, I tried to sneak back in with a new username, thinking I could outwit the system. Big mistake. X sniffed out my genius plan and slapped me with an evasion ban faster than you can say “terms of service.” Lesson learned: you can’t outsmart a machine that’s already decided you’re guilty. Now, I’m an X-ile, cast out from the platform I actually liked. Sure, I’ve washed up on Nostr’s shores, where the vibe’s less “ban-hammer” and more “live and let live.” It’s fine, I guess. But let’s not kid ourselves—it’s not X. I miss the mess of it all: the arguments, the hot takes, the flood of info that hit me like a firehose every time I logged in. Politics? I was there for it, from election meltdowns to policy nerd fights. AI? Loved watching the tech geeks duke it out over neural nets and ethics. Random stuff? Always good for a late-night rabbit hole. Now, I’m stuck piecing together the world from scraps—news sites, blogs, whatever doesn’t require a login I no longer have. That’s the kicker: I liked learning on X. It wasn’t just doomscrolling or dunking on bad takes—though, yeah, that was fun too. It was real-time, unfiltered, chaotic education. AI breakthroughs, political scandals, memes that doubled as philosophy—gone. Sure, I can Google stuff, but it’s not the same as riding the wave of a thousand voices shouting at once. I feel like I’ve been locked out of the library and left with a pamphlet. This whole fiasco has taught me one thing: don’t bet your brain on a single app. Social media’s a fickle beast—here today, banning you tomorrow for reasons it won’t bother to explain. Diversify, they say, like I’m managing a stock portfolio instead of my curiosity. Maybe I’ll find new corners of the internet to haunt. Maybe I’ll start yelling at clouds IRL. Or maybe I’ll just sit here, quietly missing the days when I could refresh my feed and feel like I had a pulse on the planet. I’d be lying if I said I didn’t miss X. The dopamine hit of a notification, the smug glow of a clever tweet, the sense I was plugged into something bigger—it’s hard to replicate. I’ve got Nostr now, sure, but it’s like swapping a rock concert for a coffee shop acoustic set. Nice, but not the same kick. One day, I might slink back to X with a burner account, praying the algorithm’s forgotten my face. Until then, I’m just a guy who got canned for caring too much, mourning the loss of a platform that taught me more than I ever expected. Thanks for nothing, X.

@ 46fcbe30:6bd8ce4d

# MEMORANDUM OF CONVERSATION **SUBJECT:** Meeting with Russian President Yeltsin **PARTICIPANTS:** - U.S. - President Clinton - Secretary Albright - National Security Advisor Berger - Deputy National Security Advisor Steinberg - Ambassador Sestanovich - Carlos Pascual - Russia - Russian President Yeltsin - Foreign Minister Ivanov - Kremlin Foreign Policy Advisor Prihodko - Defense Minister Sergeyev - Interpreter: Peter Afansenko - Notetaker: Carlos Pascual **DATE, TIME AND PLACE:** November 19, 1999, 10:45 a.m. - 11:40 a.m. Istanbul, Turkey President Yeltsin: We are in neutral territory here. I welcome you. The President: Neither of us has a stake here. It's good to see you. President Yeltsin: Well, Bill, what about those camps here in Turkey that are preparing troops to go into Chechnya? Aren't you in charge of those? I have the details. Minister Ivanov, give me the map. I want to show you where the mercenaries are being trained and then being sent into Chechnya. They are armed to the teeth. (Note: Yeltsin pulls out map of Turkey and circulates it.) Bill, this is your fault. I told Demirel yesterday that I will send the head of the SRV tomorrow and we will show him where the camps are located. These are not state-sanctioned camps. They are sponsored by NGOs and religious organizations. But let me tell you if this were in Russia and there were but one camp, I would throw them all out and put the bandits in the electric chair. The President: Perhaps Demirel could help you. President Yeltsin: Well, he ought to. Tomorrow after I get back, I will send the head of the Foreign Intelligence Service here. Bill, did you hurt your leg? The President: Yes, but it is not bad. President Yeltsin: When one leg of the President hurts, that is a bad thing. The President: It lets me know I am alive. President Yeltsin: I know we are not upset at each other. We were just throwing some jabs. I'm still waiting for you to visit. Bill. I've said to you come to visit in May, then June, then July and then August. Now it's past October and you're still not there. The President: You're right, Boris, I owe you a visit. President Yeltsin: Last time I went to the U.S., Bill. The President: Well, I better set it up. I'll look at the calendar and find a time that's good for you and me. President Yeltsin: Call me and tell me the month and date. Unless I have another visit, I will do the maximum amount I can to do everything around your schedule. The main things I have are to go to China and India. The President: Boris, we still have lots to do together. President Yeltsin: You heard my statement on nuclear arms and on banning nuclear tests. I just signed a law on ratification of a new agreement on the Comprehensive Test Ban Treaty. Isn't that right, Minister Ivanov? Minister Ivanov: You signed the documents that sent the Comprehensive Test Ban Treaty to the Duma for review. President Yeltsin: Well, in any case, I still approved it. The President: Maybe I can get the Congress to agree still. They kept the Treaty even after they rejected it. So perhaps, there is still a chance. President Yeltsin: Or perhaps it's just the bureaucrats working and they haven't had a chance to send it back to you yet. I'm upset that you signed the law to change the ABM Treaty. The President: I signed no such law. People in Congress don't like the ABM Treaty. If Congress had its way, they would undermine the treaty. I'm trying to uphold it. But we need a national missile defense to protect against rogue states. We can't have a national missile defense that works without changing the ABM Treaty. But I want to do this cooperatively. I want to persuade you that this is good for both of us. The primary purpose is to protect against terrorists and rogue states. It would be ineffective against Russia. The system we're looking at would operate against just 20 missiles. And, Boris I want to figure out how to share the benefits. For all I know, in twenty years terrorists could have access to nuclear weapons. I know your people don't agree with me, but I'm not trying to overthrow the ABM Treaty. We're still trying to discover what's technically possible with national missile defense, but there are people in America who want to throw over the ABM Treaty. I have made no decisions yet. President Yeltsin: Bill, Bill. I got your note. It went into all these things in incredible detail. I read it and I was satisfied. I've not yet ceased to believe in you. I ask you one thing. Just give Europe to Russia. The U.S. is not in Europe. Europe should be the business of Europeans. Russia is half European and half Asian. The President: So you want Asia too? President Yeltsin: Sure, sure. Bill. Eventually, we will have to agree on all of this. The President: I don't think the Europeans would like this very much. President Yeltsin: Not all. But I am a European. I live in Moscow. Moscow is in Europe and I like it. You can take all the other states and provide security to them. I will take Europe and provide them security. Well, not I. Russia will. We will end this conflict in Chechnya. I didn't say all the things I was thinking (in his speech). I listened to you carefully. I took a break just beforehand. Then I listened to you from beginning to end. I can even repeat what you said. Bill, I'm serious. Give Europe to Europe itself. Europe never felt as close to Russia as it does now. We have no difference of opinion with Europe, except maybe on Afganistan and Pakistan—which, by the way, is training Chechens. These are bandits, headhunters and killers. They're raping American women. They're cutting off ears and other parts of their hostages. We're fighting these types of terrorists. Let's not accuse Russia that we are too rough with these kinds of people. There are only two options: kill them or put them on trial. There's no third option, but we can put them on trial, and sentence them to 20-25 years. How many Americans, French, British and Germans have I freed that were there in Chechnya under the OSCE? The Chechen killers don't like the language of the OSCE. Here's my Minister of Defense. Stand up. We have not lost one soldier down there. Tell them. Minister Sergeyev: We did not lose one soldier in Gudermes. President Yeltsin: You see, Gudermes was cleansed without one military or civilian killed. We killed 200 bandits. The Minister of Defense is fulfilling the plan as I have said it should be. He's doing this thoughtfully. The soldiers only ask: don't stop the campaign. I promised these guys—I told every soldier, marshal and general—I will bring the campaign to fruition. We have these Chechens under lock and key. We have the key. They can't get in, they can't get out. Except maybe through Georgia; that's Shevardnadze's big mistake. And through Azerbaijan; that's Aliyev's mistake. They're shuttling in under the name of Islam. We're for freedom of religion, but not for fundamentalist Islam. These extremists are against you and against me. We have the power in Russia to protect all of Europe, including those with missiles. We'll make all the appropriate treaties with China. We're not going to provide nuclear weapons to India. If we give them submarines, it will be only conventional diesel submarines, not nuclear. They would be from the 935 generation. You're going in that direction too. I'm thinking about your proposal—well, what your armed forces are doing—getting rid of fissile materials, particularly plutonium. We should just get rid of it. As soon as it's there, people start thinking of how to make bombs. Look, Russia has the power and intellect to know what to do with Europe. If Ivanov stays here, he will initial the CFE Treaty and I'll sign it under him. But under the OSCE Charter, there is one thing I cannot agree—which is that, based on humanitarian causes, one state can interfere in the affairs of another state. National Security Advisor Berger: Mr. President, there's nothing in the Charter on one state's interference in the affairs of another. Secretary Albright: That's right. What the Charter says is that affairs within a state will affect the other states around it. President Yeltsin: Russia agrees to take out its property and equipment from Georgia in accordance with the new CFE Treaty. I have a statement on this. (looking toward Ivanov) Give it to me. I signed it today. Actually, it was late last night. I like to work late. The President: Me, too. President Yeltsin: I know you like to work late, Bill. When you call me, I calculate the time and I tell myself it's 4 a.m. and he's calling me. It lets you cleanse your brain and you feel great. I am not criticizing you, Bill. The President should be encouraged to work hard. The President: So, we will get an agreement on CFE. President Yeltsin: Yes. The President: That's very important, seven years. We've worked on this for a long time. President Yeltsin: Look, Ivanov has lost the statement in his own bag. He can't find the paper in his own bag. On the Charter, we have to look at it from the beginning. The Charter's ready. However, when states begin to tie in the Charter with the final declaration that has wording unacceptable to us, that's when we'll say no. And responsibility for this will fall fully on the West. (Looking at Ivanov) Give me this thing. It is written on paper. Bill. I am ready to sign it. It is a declaration about what we're talking about. Secretary Albright: Some states want to record in the declaration your willingness to have an OSCE mission. President Yeltsin: No, not at all. We will finish this with our own forces. Chechnya is the business of the internal affairs of Russia. We have to decide what to do. After we cleansed Gudermes, the muslim mufti came and asked for help, said I hate Basayev and he should be banned. These are the kinds of leaders we will put forward. I have thought this through carefully. The President: On the Chechen problem. I have been less critical than others. Even today, I asked the others how they would deal with this if it were their country. This is a political issue. It may be the best thing for you within Russia to tell the Europeans to go to hell. But the best thing for your relations with Europe for the long term is to figure out the policy that you want to have with Europe and to keep that in mind as you deal with Chechnya. President Yeltsin: (Gets up rapidly) Bill, the meeting is up. We said 20 minutes and it has now been more than 35 minutes. The President: That's fine. We can say the meeting is over. President Yeltsin: This meeting has gone on too long. You should come to visit, Bill. The President: Who will win the election? President Yeltsin: Putin, of course. He will be the successor to Boris Yeltsin. He's a democrat, and he knows the West. The President: He's very smart. President Yeltsin: He's tough. He has an internal ramrod. He's tough internally, and I will do everything possible for him to win—legally, of course. And he will win. You'll do business together. He will continue the Yeltsin line on democracy and economics and widen Russia's contacts. He has the energy and the brains to succeed. Thank you, Bill. The President: Thank you, Boris. It was good to see you. End of Conversation

@ ddf03aca:5cb3bbbe

Are you passionate about open-source development, digital privacy, and nuts? We're building the next major version (v3) of our open-source TypeScript library that makes integrating Cashu into web applications effortless. But we need your help! Version 3 aims to enhance the developer experience and expand flexibility significantly. As we start outlining this ambitious next iteration, your insights, and feedback as developers using or interested in Cashu are invaluable.  **Here's how you can contribute:** - Share your experiences: What do you love or struggle with in our current version? - Suggest features: What functionalities do you think should be prioritized? - Shape the API design: Your feedback can directly influence the core structure and usability of the library. Let's build something amazing together! Join our discussions on Matrix or hop on our weekly dev calls, and help guide the direction of Cashu-TS v3. [Get Involved!](https://cashubtc.github.io/cashu-ts-docs/docs/get_in_touch/)

@ 04c915da:3dfbecc9

Bitcoin has always been rooted in freedom and resistance to authority. I get that many of you are conflicted about the US Government stacking but by design we cannot stop anyone from using bitcoin. Many have asked me for my thoughts on the matter, so let’s rip it. **Concern** One of the most glaring issues with the strategic bitcoin reserve is its foundation, built on stolen bitcoin. For those of us who value private property this is an obvious betrayal of our core principles. Rather than proof of work, the bitcoin that seeds this reserve has been taken by force. The US Government should return the bitcoin stolen from Bitfinex and the Silk Road. Usually stolen bitcoin for the reserve creates a perverse incentive. If governments see a bitcoin as a valuable asset, they will ramp up efforts to confiscate more bitcoin. The precedent is a major concern, and I stand strongly against it, but it should be also noted that governments were already seizing coin before the reserve so this is not really a change in policy. Ideally all seized bitcoin should be burned, by law. This would align incentives properly and make it less likely for the government to actively increase coin seizures. Due to the truly scarce properties of bitcoin, all burned bitcoin helps existing holders through increased purchasing power regardless. This change would be unlikely but those of us in policy circles should push for it regardless. It would be best case scenario for American bitcoiners and would create a strong foundation for the next century of American leadership. **Optimism** The entire point of bitcoin is that we can spend or save it without permission. That said, it is a massive benefit to not have one of the strongest governments in human history actively trying to ruin our lives. Since the beginning, bitcoiners have faced horrible regulatory trends. KYC, surveillance, and legal cases have made using bitcoin and building bitcoin businesses incredibly difficult. It is incredibly important to note that over the past year that trend has reversed for the first time in a decade. A strategic bitcoin reserve is a key driver of this shift. By holding bitcoin, the strongest government in the world has signaled that it is not just a fringe technology but rather truly valuable, legitimate, and worth stacking. This alignment of incentives changes everything. The US Government stacking proves bitcoin’s worth. The resulting purchasing power appreciation helps all of us who are holding coin and as bitcoin succeeds our government receives direct benefit. A beautiful positive feedback loop. **Realism** We are trending in the right direction. A strategic bitcoin reserve is a sign that the state sees bitcoin as an asset worth embracing rather than destroying. That said, there is a lot of work left to be done. We cannot be lulled into complacency, the time to push forward is now, and we cannot take our foot off the gas. We have a seat at the table for the first time ever. Let's make it worth it. We must protect the right to free usage of bitcoin and other digital technologies. Freedom in the digital age must be taken and defended, through both technical and political avenues. Multiple privacy focused developers are facing long jail sentences for building tools that protect our freedom. These cases are not just legal battles. They are attacks on the soul of bitcoin. We need to rally behind them, fight for their freedom, and ensure the ethos of bitcoin survives this new era of government interest. The strategic reserve is a step in the right direction, but it is up to us to hold the line and shape the future.