The best interest rate is not decided in a boardroom. It is discovered in a market. In Bitcoin: Separation of Money and State, @JosefTetek draws on Friedrich Hayek’s idea that prices are an information system. No single institution has all the information needed to decide what something should cost. ✅Borrowers know how much liquidity is worth to them. ✅Lenders know what return they need for the risk and duration. ✅The market brings those preferences together and produces a price. The same should be true for Bitcoin-backed credit. A lender with a balance sheet can offer a rate. A P2P market can discover one. That distinction matters because every loan is different. The amount, duration, collateral and urgency all shape what a fair rate should be. Firefish brings borrowers and lenders into an open marketplace where those terms can be matched directly, with Bitcoin secured in a non-custodial escrow. Not one institution deciding the price of credit.A market discovering it.