“This is one of the things that we are proud of: We built a road under anarcho-capitalsm.
Who’s going to build the roads? We are going to build the roads!
This is the living proof that the system works. We, libertarians, are responsible for our own land.”
This week the podcast is coming from Montenegro and I’m talking with with a pseudonymous gentleman by the name of Jose Birkin.
This conversation was my first in Montenegro within the Montelibero community.
Montelibero is an intentional community of mostly Russian-speaking libertarians that appears in our Free Communities Directory. Myself and Peter Young traveled there last month on a fact-finding mission to see what kind of progress is being made in their quest to become ‘A role model of liberty in practice in Montenegro’.
Due to its decentralised nature, there are no spokespeople as such who can speak on behalf of the community as a whole but one individual who goes by the name of Jose Birkin (not his real name, of course) stepped up to answer my questions about the ins and outs of running a start-up intentional community such as this.
A quick word of warning before you dive in. For an hour or so we ended up talking quite intensely about the blockchain tokenomics system that the community uses to transact internally, track ownership of land titles and make community decisions etc, and this part of the conversation may become a little tedious for some of you since I was not of the opinion that one needs to use a blockchain in this situation. As a result I did rather labour the point somewhat in order to get the whole thing straight in my head. Long and short of it is, whilst I still think that their solution is not necessarily a good long-term one, I now understand their reasons for choosing it.
Other than that, we talk about the history of the community, the pros and cons of building in Montenegro and how the community functions without having any one person in charge. I also get to ask the question “Who will build the roads?” which is always a pleasure, so look out for that one and look out also in the future for more interviews that I conducted whilst I was there with further residents of Montelibero who have either bought land or property there.
Montelibero is an exciting experiment and I thoroughly enjoyed my time there and I would like to offer another big thank you to the community who welcomed us with open arms during our time in the country.
Enjoy the conversation.
Automatically Generated Summary
Section Overview: In this section, Timothy Allen introduces the Free Cities Podcast and provides some context for the episode.
- Timothy Allen introduces himself as the host of the Free Cities Podcast.
- He mentions that he is recording from Prague, where he is attending a Bitcoin conference.
- He notes that this is episode 29 of the podcast.
00:46 Overview of Episode
Section Overview: In this section, Timothy Allen provides an overview of what to expect in the episode.
- The conversation in this episode was recorded in Montenegro with a member of an intentional community called Montelibero.
- The conversation is nearly three hours long.
- They discuss various topics related to the community, including its history, blockchain tokenomics system, and how it functions without having anyone person in charge.
01:10 Introduction to Montelibero Community
Section Overview: In this section, Timothy Allen provides some background information on Montelibero community.
- Montelibero is an intentional community made up mostly of Russian-speaking libertarians.
- It appears in their free communities directory.
- Timothy and Peter Young traveled there on a fact-finding mission to see what kind of progress is being made in their quest to become a role model of liberty in practice in Montenegro.
01:38 Interview with Jose Birkin
Section Overview: In this section, Timothy Allen interviews Jose Birkin about running a startup intentional community such as Montelibero.
- Due to its decentralized nature, there are no actual spokespeople who can speak on behalf of the community as a whole.
- Jose Birkin stepped up to answer questions about running an intentional community like Montelibero.
- They discuss various topics related to the community’s functioning and decision-making processes.
- Timothy notes that they spend a significant amount of time discussing the blockchain tokenomics system used by the community to transact internally, track ownership of their land titles, and make community decisions.
Section Overview: In this section, Timothy Allen concludes the episode and provides some final thoughts.
- Timothy enjoyed his time in Montenegro and found Montelibero to be an exciting experiment.
- He thanks the community for welcoming him and Peter Young during their visit.
- He encourages listeners to enjoy the podcast and look out for future interviews with other residents of Montelibero who have bought land or property.
05:30 Montelibero Community Overview
Section Overview: In this section, the speaker provides an overview of the Montelibero community, including its origins and purpose.
- 06:00 The clubhouse is a house that serves as a base for everyone in the community.
- 06:24 It is a communal living space where everyone cooks for each other.
- 07:42 Membership is required to be part of the clubhouse and it operates like a private club.
- 08:33 Montelibero can be considered an intentional community with a common goal of creating an economically thriving country.
- 08:58 While most members are libertarians, adherence to the non-aggression principle is required rather than political affiliation.
Decentralized Decision Making
- 10:40 The community is completely decentralized, but there are supporters who fund activities without buying MTL tokens.
- 11:04 Decisions are made by the community of people who support the Montelibero initiative to make it a better place.
11:40 MTL Tokens and Payment System
Section Overview: In this section, the speaker explains what MTL tokens are and how they are used within the Montelibero community.
What Are MTL Tokens?
- 11:40 MTL tokens are cryptocurrency tokens used within the Montelibero community as a means of payment for goods and services.
- 11:40 Members can pay for goods and services using MTL tokens or fiat currency.
- 12:08 A payment system has been set up at the clubhouse to facilitate transactions using both forms of currency.
12:24 Overview of MTL Tokens and the Montelibero Fund
Section Overview: In this section, the speaker explains that MTL tokens are like shares in the Montelibero fund, which is responsible for acquiring land and construction in Montelibero. The fund is a legal entity that invests in various things such as local businesses.
MTL Tokens and the Montelibero Fund
- 12:24 MTL tokens are like shares in the Montelibero fund.
- 12:59 The fund acquires land and is responsible for construction in Montelibero.
- 18:08 The Montelibero fund invests in various things such as local businesses.
13:22 Free Private City Model and Community Operations
Section Overview: In this section, the speaker discusses how community operations work within their version of a free private city model. They explain that to be part of their network, one must buy MTL coins to show interest and commitment to their community. They also mention that decisions are made by 20 people on blockchain who have multi-signature authority.
- 13:22 To be part of their network, one must buy MTL coins to show interest and commitment.
- 14:11 Decisions are made by 20 people who have multi-signature authority.
- 15:01 Voting determines what money gets spent on within the community.
- 17:19 NFT’s were created to prove ownership of specific plots of land.
15:43 Property Ownership in Montelibero
Section Overview: In this section, the speaker explains that investors can be part of their network without owning property in Montelibero. They also mention that people from certain countries cannot own land in Montenegro but can own houses.
- 15:43 Investors can be part of their network without owning property in Montelibero.
- 16:20 To buy a plot of land and build on it, one must join the network or buy MTL equity.
- 17:56 People from certain countries cannot own land in Montenegro but can own houses.
19:45 Understanding the Creation of a Stablecoin
Section Overview: In this section, the speakers discuss how their investment fund is backed by Bitcoin and gold, as well as cash in the form of a stablecoin called MTL. They explain why they chose to create their own stablecoin instead of using Bitcoin or an existing Euro stablecoin.
Investing in Bitcoin and Gold
- The investment fund is backed by Bitcoin and gold, as well as cash and real world assets.
- When buying shares in the fund, investors know that it’s backed by these assets.
Creating MTL Stablecoin
- MTL is a stablecoin created on the Stellar Lumens blockchain network.
- It’s backed one-for-one with actual cash.
- The team created their own stablecoin because Euro fees in Montenegro are exorbitant and impractical to use.
- MTL allows for easy transactions within the community without relying on traditional banking systems.
Why Not Use Bitcoin?
- Bitcoin is too volatile for everyday transactions like buying coffee.
- While some people use Lightning Network for small transactions, it’s not practical for larger ones or businesses.
- Businesses often convert Bitcoin to USD stablecoins because they can’t run a business with such volatility.
23:08 Using Treasurers to Circumvent Banking System
Section Overview: In this section, the speakers discuss how they use treasurers to exchange money within their community due to underdeveloped banking systems. They also explain how they used MTL during times when traditional banking was unavailable.
Using Debt Warrants Instead of Traditional Banking
- Due to underdeveloped banking systems, people rely on warrants instead of traditional banking methods.
- A warrant is an IOU that guarantees payment in cash whenever requested.
- These warrants are valid throughout the community and can be exchanged between individuals.
Using Treasurers to Exchange Money
- The team has a network of treasurers in different towns and even outside the country.
- These treasurers exchange warrants for MTL, which can then be cashed out with another treasurer or used within the community.
Using MTL During Unavailable Banking Systems
- During times when traditional banking systems were unavailable, people used MTL to exchange money overseas.
- This allowed them to sell their assets and bring cash with them without relying on volatile Bitcoin or impractical traditional banking systems.
26:36 Euro Stablecoin and Tokenomics
Section Overview: In this section, the speaker explains how the Euro stablecoin works and how it is used through Telegram channels. They also discuss the simplicity of using a bot on Telegram for small amounts of money.
How Euro Stablecoin Works
- 26:36 The Euro stablecoin runs on QR codes and is used through Telegram channels.
- 27:04 Once you get into the system, using the Euro stablecoin becomes natural.
- 27:44 The lobster wallet, which is a Stellar Lumens wallet, can be used to swap for the Euro stablecoin.
- 28:49 Establishing a trust line to the Euro Amtil is the first step in their tokenomics.
- 29:14 The speaker mentions that cryptocurrencies are not regulated in Montenegro where they operate.
- 30:25 The speaker audits their own system every three months to ensure everything is backed by cash.
Regulatory Issues and Audits
- 29:36 There may be regulatory issues with creating your own stable coin, but it depends on whether or not authorities want to make an issue out of it.
- 30:44 Concerns about big stable coins include whether or not they are actually backed by real assets or if they are just printing money out of thin air.
- 31:56 The speaker’s system is built on trust and audited every three months. Everything is backed by cash.
33:23 Decentralized Money and Community Building
Section Overview: In this section, the speaker discusses the potential issues with using Bitcoin as a decentralized money option for community building. They also explain how their distributed network of treasures works to ensure transparency and safety in financial transactions.
Potential Issues with Decentralized Money
- 33:23 The speaker notes that while using Bitcoin as a decentralized money option may seem like a good idea, it could potentially be problematic due to its volatility.
- 33:44 They suggest that under current circumstances, it is necessary to use other options alongside Bitcoin when running a big community.
- 34:02 The speaker explains that they have a distributed network of treasures that work similarly to branches of banks, which helps ensure transparency and safety in financial transactions.
Transparency and Safety in Financial Transactions
- 34:29 The speaker notes that their system is more transparent than traditional banking systems because they issue reports every month on how much money each treasure has.
- 35:50 They explain that the urm tell (their currency) is backed by assets owned by the fund, including cash, bitcoin gold, land, equipment like tractors and cars useful for construction purposes. This ensures that even if someone gets robbed, their money wouldn’t just go missing all at once.
- 36:29 The speaker emphasizes the importance of having four times more assets in the fund than they have in urm tell to avoid ending up with just some digits and no real value.
37:15 Decision Making in Community Building
Section Overview: In this section, the speaker discusses decision-making processes within their community when it comes to investing in projects.
Decision Making Process
- 37:46 The speaker notes that they have a bunch of telegram chats for the 20 signatories who decide what to invest in.
- 39:00 They explain that offline meetings are also held for those who are part of the community because it’s easier to talk about things.
40:52 Initiatives and MTL Tokens
Section Overview: In this section, the speaker explains how to become a signatory for initiatives and how to obtain MTL tokens. They also discuss the fixed supply of MTL tokens and their value.
Becoming a Signatory
- 40:52 To become a signatory, you need to have a big enough stake in the fund.
- 41:42 The top 20 signatories were accessible with only 500 MTL tokens.
- 43:01 The signatories are on the Telegram group and get to say yes or no.
- 41:20 The number of tokens you can get depends on your stake in the fund.
- 42:38 There is no fixed supply of MTL tokens because new assets may be added to the fund.
- 45:17 New MTL tokens are issued only when necessary, such as when investing in new assets.
43:56 Understanding MTL Tokens
Section Overview: In this section, the speaker explains what MTL tokens are and how they relate to stable coins.
What Are MTL Tokens?
- 43:56 MTL tokens are shares of the fund that represent ownership of part of everything it owns.
- 46:17 By owning MTL tokens, you own part of the fund and receive dividends every month.
Relationship with Stable Coins
- 45:54 To interact with land being sold off for €1000, one must convert €1000 into Euro stable coin.
- 46:38 One cannot buy land with MTL; it is used for investing in initiatives.
48:04 Understanding the MTL Token
Section Overview: In this section, the speaker discusses their confusion about tokens and asks questions to understand the MTL token. They also express excitement about the project.
Confusion About Tokens
- The speaker is confused about tokens and needs to understand them better.
- They deal in Bitcoin and find it simple because of its fixed supply.
- They want to get a clear understanding of the MTL token because they want to tell others about it.
- The speaker feels uneasy about the unlimited supply of money in the current financial system.
- The MTL fund has revenue from its operations and invests in real assets like land, apartment buildings, and businesses.
- Owning an MTL token means owning a bit of cash, land, flats being built, Bitcoin, etc.
- People can buy MTL tokens on a free market exchange and receive monthly dividends.
51:15 Understanding MTL Tokens
Section Overview: In this section, the speaker explains how to buy MTL tokens and how their value is determined.
Buying MTL Tokens
- Anyone can buy MTL tokens on a free market exchange available on Telegram.
- The price of each MTL token is determined by supply and demand on the free market exchange.
- The book value of each MTL token can be seen in reports and is determined by the assets held by the fund.
- However, the real value is different as it’s based on free market value.
55:27 Book Value
Section Overview: In this section, the speaker explains what book value is and how it works.
What is Book Value?
- 55:27 Book value is the primary price that the fund offers to buy new MTL’s for.
- If you want to buy a lot of MTL’s, you can contact the fund directly and express your desire to buy at least a thousand MTL’s. Then you would get the book value which means they would give you a good enough price for your 1000 um mtl’s plus some of the extra money that they will like to get for the transaction.
- The fund is interested in gaining profits out of it so they will sell you these MTL’s for your assets again, and this is how you get a better price.
Buying Less Than 1000 MTLs
- Alternatively, if you want less than 1000 MTL’s, you can go to sell a network and buy some MTL’s that are available online but we cannot guarantee the actual value.
57:16 Understanding MTL Tokens
Section Overview: In this section, the speaker discusses MTL tokens and how they work.
Issuing MTL Tokens
- 57:16 The speaker keeps thinking about red flags because someone issues these mtl tokens. If someone wants to come and buy a thousand mtl tokens right away, he/she can go straight to Montelebro Fund (the fund).
- The question arises as to how it is backed up. It becomes backed by euros exactly which are invested in more projects. This is how one gets more; this is how the value of MTL increases.
- It’s not like it’s not a closed system with an unlimited number of MTLs because the fund wants more people to join and be able to get something.
Trust in MTL Tokens
- 58:31 The speaker says that technically, you don’t have to buy any tokens and still be part of the Montelebro movement. It’s just that if you want to invest in the project, if you have enough trust in the project because basically, we’ve got blockchain and everything but it’s all built on trust.
- There is a legal entity called Montelebro here; there’s real value behind mtl, and everything is super transparent on Stellar so you can see everything on blockchain ever since it started.
01:00:16 Blockchain Assets
Section Overview: In this section, the speaker talks about how blockchain assets work.
Tying Blockchain Assets to Real Life Assets
- 01:00:16 The speaker says that in a way, it’s difficult to tie the blockchain assets or transactions to real-life assets. You can make the connection but can never really anchor them together because they’re not connected.
- Money is about trust; yours this tea and yours tea are about trust right? We don’t really see what these tokens are backed by every day; we can’t go to the bank and check.
- With Bitcoin, you can see it on stella; you can see our tokens wrapped around Bitcoin so you can see how much exactly we’ve got. Every month we’ve got reports, and everything can be seen super transparently.
01:02:31 Proving Ownership of Land with NFTs
Section Overview: In this section, the speaker discusses how NFTs can be used to prove ownership of land in Montenegro.
Using NFTs to Prove Ownership
- An NFT can be used to prove ownership of a plot of land in Montenegro.
- The NFT shows the exact number and location of the land owned.
- A map with all the planning and names or nicknames of those who own the land is not enough proof.
- To buy a plot of land, one needs to sign a legal document that proves ownership.
- Anyone can purchase land using an NFT, but they still need to pay taxes and other fees.
01:05:15 Legalizing Land Ownership in Montenegro
Section Overview: In this section, the speaker explains how one can legalize their ownership of land in Montenegro.
Legalizing Land Ownership
- While owning an NFT proves ownership within MTL ecosystem, it is possible to legalize it with the government as well.
- Sources are actively trying to do so for their plots of land.
- The NFT serves as a deed for the property.
- It is encouraged that residents legalize their ownership if they want it recognized by the government.
01:07:27 Working with MTL Fund vs Government
Section Overview: In this section, the speaker discusses why they prefer working with MTL Fund over working directly with the government.
Working with MTL Fund vs Government
- There is a lot of bureaucracy and corruption when dealing directly with the government in Montenegro.
- The MTL Fund provides legal assistance and accountants which makes them more trustworthy than dealing directly with government officials.
- While there could still be corruption between government officials and MTL Fund members, it’s better to work with the Fund as they have a vested interest in keeping the land safe and construction uninterrupted.
- The project aims to run operations parallel to Montenegro’s system while still performing obligations to the government.
01:09:20 Libertarian Movement in Montenegro
Section Overview: The speaker discusses the libertarian movement in Montenegro and its potential to help the country prosper economically. They mention that they are not allowed to participate in political activity or interfere with the government, but would be happy to work with anyone interested in making Montenegro a better place.
Government and Gun Ownership
- 01:10:14 The government is described as “live and let live” and leans towards gun ownership.
- 01:11:14 The new president is pro-EU but was also backed by a candidate who was pro-Serbian.
- 01:12:20 Half of the guns owned by citizens are legal, but it’s unknown how many are illegal. Statistically, every other person in the country owns at least one gun.
01:14:36 Choosing Montenegro for Living
Section Overview: The speaker explains why they chose Montenegro as their home. They mention that it’s not densely populated, has a weak government, and no titular nation.
Reasons for Choosing Montenegro
- 01:14:36 Chose Montenegro because it’s not densely populated with only 600,000 people or less.
- 01:15:15 Weak government has no real direct influence on people.
- 01:15:31 No titular nation – there is no dominant ethnic group like British people living in the UK.
01:16:27 Living in Montenegro as a Non-Citizen
Section Overview: The speaker discusses the ways to live in Montenegro as a non-citizen and the process of obtaining citizenship.
Ways to Live in Montenegro as a Non-Citizen
- Establishing a company is the easiest way to get a residence permit for one year, which can be renewed annually. After five years, permanent residency can be obtained.
- Citizenship can also be obtained after five years, but it is difficult to achieve.
- The speaker hopes that positive changes made by their movement will encourage locals to invest and do business with them.
01:18:39 Libertarianism in Montenegro
Section Overview: The speaker talks about how libertarianism is easier to implement on a smaller scale in Montenegro compared to other countries.
Implementing Libertarianism in Montenegro
- The speaker hopes that locals will start using their services and investing with them because it’s faster, cheaper, and easier than what the government or banks have to offer.
- They chose Bar because it has a port and real road access, making it easier for businesses.
- Bigger investors who come to live and invest in Montelibero would benefit from this setup.
- The speaker believes that implementing libertarianism on a smaller scale is easier in Montenegro than other countries due to its size.
01:21:02 Challenges of Building Houses in Montenegro
Section Overview: The speaker discusses the challenges of building houses in Montenegro due to outdated laws.
Challenges of Building Houses
- Most houses are illegal even though people have been living there for generations because they are not registered as private houses.
- There’s going to be a new law that will facilitate the process of building houses, but it might not be possible to obtain citizenship even with the new law.
- The government allows people to live on their land as long as they have legal grounds to be there, but there’s a long queue of people waiting for paperwork to be done.
- The speaker tries to avoid dealing with the laws of the country because they are lagging behind what’s happening.
01:23:10 Building Houses in Balkan States
Section Overview: The speaker discusses the process of building houses in Balkan states and the challenges faced due to lack of proper planning permission.
Local Builders and Planning Permission
- 01:23:10 70% of all houses are illegal in Balkan states.
- When a local builder applies for planning permission, they are supposed to follow certain rules but often don’t.
- The process is chaotic due to people’s changing needs over time.
Bizarre Buildings and Planning Permission
- 01:24:01 Some buildings have iron bars sticking out from the top as proof that construction is still ongoing.
- In India, leaving such things sticking out allows for adding on at a later date.
- Rules become stricter only if someone complains about what you’re doing.
Establishing Local Connections
- 01:26:02 It’s important to be friends with your neighbors when building houses.
- The construction company hired by the speaker has established local connections and works closely with consultants, realtors, and estate agents.
Experimenting with Building Houses
- 01:28:03 Building houses in Balkan states is an experiment since no one has done it before in the same way.
- The speaker is excited to be part of this experiment despite not having definite answers about how things will work out.
01:29:36 Relocation and Building a Community
Section Overview: In this section, the speakers discuss relocation and building a community. They talk about the differences between men and women when it comes to relocating, the importance of beauty in architecture, and decision-making processes in communal living.
Relocating and Settling Down
- Men are more likely to relocate than women.
- Women tend to be more homely, especially if their mothers are close by.
- Some people settle down in other countries rather than doing something new.
- There are exceptions to these generalizations.
Building a Community
- The community is discussing adhering to a certain style for their houses.
- The speaker would like to build with stone instead of concrete.
- Good-looking buildings increase the overall value of the project.
- Beauty seems to be disappearing from modern architecture in favor of convenience and function.
Decision-Making Processes in Communal Living
- It’s better if someone owns the building and everyone who lives there follows the rules rather than having co-owned buildings where decisions can be difficult to make.
- Decision-making processes can be challenging when many people have different opinions on what should be done.
01:35:46 MTL Fund and Community Building
Section Overview: In this section, the speakers discuss the MTL fund and community building. They talk about separate chats for people who bought land, how to enforce rules for building houses, and the challenges of decision-making in a communal living situation.
Separate Chats for Landowners
- There are separate chats for people who bought land in the MTL city project.
- Only 20 families out of several thousand landowners will build houses.
Enforcing Rules for Building Houses
- There is no enforcement mechanism for rules on building houses.
- One suggestion is to have everyone sign a contract when they join the community that outlines what they must do.
- Another solution is to let the free market decide what kind of buildings are constructed.
Challenges of Decision-Making in Communal Living
- Personal emotions can affect decision-making in communal living situations.
- The speakers acknowledge that there may be problems with libertarianism as a governing philosophy.
- They discuss drawing up a contract to adhere to minimal features that everyone wants.
01:40:07 Life Prior to Joining Community
Section Overview: In this section, one speaker talks about their life prior to joining the community and how affordable it is to live in Mountain Agre.
Boring COVID Times
- The speaker’s life was pretty boring during COVID times.
- They spent most of their time sitting in front of their computer working as a translator.
Affordability of Mountain Agre
- Mountain Agre is an affordable place to live compared to other countries like Switzerland and Britain.
- Many people find it comfortable even if they are not IT specialists who make money online.
01:42:00 Living in a Decentralized Community
Section Overview: In this section, the speaker talks about the demographics of the community and how people from different countries are welcome to live there. They also discuss the availability of land for sale and how interested buyers can get in touch.
Demographics of the Community
- 01:42:00 The community has a lot of Russian speakers, but there are also people from other countries.
- 01:42:29 English is spoken by many people in the community, so language is not a barrier.
- 01:42:57 Anyone who is interested can come and be part of the project.
Availability of Land for Sale
- 01:43:24 Currently, there is nothing for sale on the site as no one is living there yet.
- 01:43:49 However, interested buyers can express their desire to buy through Telegram groups or by contacting someone from the community who may be willing to sell their parcel.
- 01:44:45 There are no contracts involved in buying land; it’s all based on trust between individuals.
01:45:21 Financial Governance and Trust in Decentralization
Section Overview: In this section, the speaker discusses financial governance and trust within decentralized communities. They talk about how contracts do not necessarily guarantee success and how trust between individuals is essential.
- 01:45:21 The governance structure of the community is chaotic but decentralized.
- 01:45:50 Contracts are not always necessary for success; more trust between individuals is needed.
Trust in Decentralization
- 01:46:31 The speaker believes that contracts and governments do not guarantee success; what’s lacking in life is trust between individuals.
- 01:47:00 The speaker had not visited any other community similar to this project before coming here.
- 01:48:00 Bar is a popular tourist destination, but it’s not on the radar like other places, which benefits the community.
[t=1:48:52s] Building in a Bureaucratic Environment
Section Overview: The speakers discuss the challenges of building in a bureaucratic environment and how people build things for themselves due to the bureaucracy. They also talk about the beaches in the area.
Building in a Bureaucratic Environment
- 01:48:52 The bureaucracy is incredible, making it difficult to build something.
- 01:49:23 Despite being up in the hills, one can see the beach from where they are.
- 01:50:13 One of the speaker’s dreams was to make a film about abandoned villages in Bulgaria.
- 01:51:05 The speakers discuss their initial idea of creating a floating city as part of their project.
- 01:48:59 There are nice beaches down on the coast, including town beach and city beach.
- 01:49:23 The town beach is only 20 minutes away by foot from where they are building.
- 01:49:42 The view from where they are building overlooks the beach.
[t=1:51:52s] Sea-stating Project and History of Montereybro
Section Overview: The speakers discuss sea-stating projects and their own project. They also touch on the history of Montereybro.
- 01:51:52 Initially, their project was called “sea-stating” because they considered building a floating city if they couldn’t find land.
- 01:52:16 There is an existing sea-stating industry with prototypes being built and VC money going into some projects.
History of Montereybro
- 01:53:36 The speakers plan to go to America to talk to people about sea-stating projects because there are many of them around America.
- 01:53:53 One of the speakers asks for a timeline of Montereybro’s history.
01:54:32 Starting a Libertarian Community in Montenegro
Section Overview: In this section, the speaker discusses the origins of a libertarian community in Montenegro and its founding members.
The Founding Members
- 01:54:32 A Ukrainian family moved to Montenegro with the idea of starting a new life.
- 01:55:01 One of the founding fathers is Heinreich Balenian, who is an agorist or libertarian. He speaks Ukrainian, Russian, German, English and Serbian.
- 01:55:31 Heinreich’s family name is Polyan and has close ties with Germany.
The Free Society Project Europe
- 01:56:23 Heinreich met another person named Any on agorism websites like Panaki.org.
- 01:56:57 They decided to start something new by creating a libertarian community called the Free Society Project Europe (FSP).
- 01:58:22 They bought land and legalized everything by the end of summer 2021.
- 01:59:19 The FSP was established not only for families to settle down but also for them to cooperate and live together.
- 02:00:01 By August 2021, there were no more than a dozen permanent members living in the community.
- 02:01:04 They started advertising on other platforms like chats and libertarian communities which helped them grow their community.
- 02:01:33 Buying land in Montenegro would be easier because they have created their own blockchain-based real estate system.
02:02:27 Registering Land on a Blockchain Platform
Section Overview: In this section, the speaker discusses the process of registering land on a blockchain platform and why it was chosen over a traditional website.
Why Use Blockchain Instead of a Website?
- 02:02:51 The speaker questions why blockchain was used instead of a traditional website to register land.
- 02:03:24 The speaker explains that using a website does not provide guarantees that the land is actually owned by the person claiming it.
- 02:03:43 The speaker acknowledges that using blockchain does not provide any actual guarantees in life but is still a good system to organize around.
Benefits of Using Blockchain for Land Registration
- 02:04:02 The speaker explains that using blockchain as a ledger allows for better organization and tracking of who owns what.
- 02:04:33 By creating tokens on top of an existing blockchain, it becomes easier to manage ownership and transactions related to land registration.
02:05:12 NFT Ownership and Trust
Section Overview: In this section, the speaker discusses NFT ownership and how it relates to trust in land ownership.
Understanding NFT Ownership
- 02:05:19 The speaker clarifies that owning an NFT of land means nothing in terms of actual ownership.
- 02:05:40 To ensure safety and security, individuals can join the board of directors for Montelibero, which provides legal guarantees against fraud or theft.
Trust in Land Ownership
- 02:06:10 The speaker acknowledges that relying on trust is necessary when dealing with community-owned property.
- 02:06:30 While blockchain may not be perfect, it provides an additional layer of trust when managing ownership and transactions related to land registration.
02:07:24 Risks of Using Blockchain for Land Registration
Section Overview: In this section, the speaker discusses the risks associated with using blockchain for land registration.
Decentralization and Proof of Work
- 02:07:33 The speaker acknowledges that some blockchains are not truly decentralized due to their lack of proof of work.
- 02:08:17 While blockchain may not be perfect, it provides an additional layer of trust when managing ownership and transactions related to land registration.
Risks Associated with Blockchain
- 02:08:36 The speaker acknowledges that there are risks associated with using blockchain, but these risks are inherent in any new technology.
02:09:25 The Purpose of Blockchain and the Use of Non-Bitcoin Blockchains
Section Overview: In this section, the speaker discusses their skepticism towards non-bitcoin blockchains and how they believe that the only purpose of a blockchain is for money. They also discuss how the blockchain is being used to keep records and secure land ownership in Montenegro.
The Purpose of Blockchain
- The speaker believes that the only purpose of a blockchain is for money.
- They are skeptical of non-bitcoin blockchains because they do not have a proof-of-work mechanism.
- Most other blockchains do not have a proof-of-work mechanism.
Using Blockchain to Secure Land Ownership
- The blockchain is being used to keep records and secure land ownership in Montenegro.
- There is no real-world connection between an NFT and a piece of land, but for them, there is.
- If someone is worried about not getting enough proof that a piece of land actually belongs to them, they can transfer it legally onto their company.
02:11:13 Establishing the Mont MTL City Community
Section Overview: In this section, the speaker talks about the establishment of the Mont MTL City community in 2021. They discuss how people are attracted to Bar due to its libertarian community and how they hold regular MTL breakfasts and lunches.
Attracting People to Bar
- People are attracted to Bar due to its libertarian community.
- Regular MTL breakfasts and lunches are held every Wednesday and Saturday in Bar.
- There are private initiatives to replicate this model in other towns.
Establishing Mont MTL City Community
- The Monterey Bay Community currently consists of people living around here.
- Building actual buildings on-site will attract more people to live at Mont MTL City.
- It will be an amazing little hub of activity if people live on-site at Mont MTL City.
- The clubhouse is a good start for the community, and it seems very welcoming and cool.
02:16:03 The Importance of Community
Section Overview: In this section, the speaker discusses the importance of community and how it provides a sense of belonging for immigrants.
Retaining a Sense of Home
- Immigrants choose to leave their countries, but they still desire a sense of community.
- The libertarian community provides a home away from home feeling.
Lack of Like-Minded People
- There are not enough libertarians or anarcho-capitalists in the world.
- Being surrounded by like-minded people is important.
Living Alongside Government
- Libertarians can thrive in places where government and people live side by side but not together.
02:18:15 Risks Associated with Stellar Blockchain
Section Overview: In this section, the speaker discusses the risks associated with using the Stellar blockchain for their stablecoin and tokenomics system.
- The speaker acknowledges that there is a risk associated with using a centralized company like Stellar.
- If Stellar fails, it could negatively impact their token’s price.
Consideration of Other Platforms
- Some members have suggested switching to Ethereum due to being Bitcoin maximalists.
- However, it is currently not practical from an economic standpoint due to longer transaction times and higher commissions.
- They keep backups of all transactions to offset negative consequences if Stellar fails.
- However, if the blockchain itself runs into problems, it will affect the price of their token as well.
02:21:01 MTL Token Price Determination
Section Overview: In this section, the speaker explains how MTL token prices are determined and how they are traded on open markets.
Real Transactions Dictate Price
- MTL token prices are determined by real economic factors such as land prices, Bitcoin prices, and gold and cash reserves.
- The current price is based on the latest transaction in the order book.
Free Market System
- MTL tokens are traded on open markets using a free market system.
- The system gives the best price for buying or selling.
Current Price Determination
- The current price of MTL tokens is dictated by real transactions between people.
- It is not just based on the last transaction but also takes into account all orders of people offering to buy and sell.
02:23:12 Understanding the Book Value of MTL Tokens
Section Overview: In this section, the speaker explains how the book value of MTL tokens is determined and where investors can find this information.
Determining the Book Value
- The price of MTL tokens is determined by what buyers and sellers think of it, as well as the book value.
- The book value is based on the current price of land, Bitcoin, and all other assets held by the fund.
- Reports are published monthly with an updated book value that should be around 3.3 euros per token.
- Although reports are published monthly, investors can see real-time updates to the book value every 24 hours.
- The book value is calculated based on a coefficient derived from recent deals in the market.
02:25:51 Buying and Selling MTL Tokens
Section Overview: This section covers how investors can buy and sell MTL tokens based on their book value.
Bulk Purchases vs Free Market
- Investors can only buy tokens based on their book value in bulk (1000 or more).
- Alternatively, they can purchase tokens on the free market but at an unguaranteed price.
Second Hand Market
- All MTL tokens are issued when real assets come into the system.
- Therefore, second-hand markets for these tokens are finite until new assets enter into circulation.
02:28:33 Trust in Decentralized Networks
Section Overview: This section discusses trust in decentralized networks and how it relates to MTL’s system.
- The speaker acknowledges that trust is necessary for their system to work effectively.
- They note that there currently isn’t a better alternative than using a trusted network like theirs.
Blockchain vs Website
- The speaker notes that they could have created their own platform and website instead of using a blockchain.
- However, they believe that people would trust them less if they had built something from scratch.
02:29:21 Leaving the Fund
Section Overview: This section covers how investors can leave the fund and get their money back.
- The fund guarantees to buy back MTL tokens at an investor’s request.
- Investors may lose 1 or 2 percent due to buying and selling prices, but they can leave at any time.
02:30:21 Private Key Risks
Section Overview: The speaker discusses the risks associated with sharing private keys with alternative wallets.
Sharing Private Keys
- Alternative wallets such as Solar or Lobster require users to share their private key, which puts them at risk.
- The speaker recommends using the MTL wallet bot instead, which does not require sharing a private key.
02:30:50 Importance of Blockchain Transparency
Section Overview: The speaker emphasizes the importance of blockchain transparency and how it differs from traditional anonymous networks.
Transactions and Addresses
- Blockchain allows for transparency in transactions between people, including their addresses and names.
- This is opposite to traditional anonymous networks where people do not use their real names.
- Users can see where their money goes and how it is exchanged for tokens.
Difficulties Implementing on a Website
- It would be difficult to implement this level of transparency on a website.
- Blockchain’s transparency allows users to go back to the very beginning and look at the first transaction.
02:32:56 Issues with Token Sales
Section Overview: The speaker discusses issues with token sales in many blockchains.
- Many blockchains use pre-mined tokens to generate income for themselves.
- This forces the price down and leaves a bad taste in users’ mouths.
- Users have to trust these networks, which can be problematic if they fail or someone does something wrong.
- Token founders often sell into the market all the way down in order to fund projects.
- Using these networks leaves users vulnerable because they are using someone else’s network.
- Our project is different because it is backed by an actual company that owns assets securely.
02:34:17 Selling Tokens to Retail Buyers
Section Overview: The speaker discusses the negative impact of selling tokens to retail buyers.
Negative Impact on Users
- Selling tokens to retail buyers is not good for users because it forces the price down.
- This has happened with many blockchains, causing their prices to go down to practically zero.
Founders Selling Tokens
- Token founders often sell into the market all the way down in order to fund projects.
- This leaves users vulnerable because they are using someone else’s network.
Unreasonable Business Model
- The speaker does not believe that selling tokens to retail buyers is a reasonable business model.
- Our project is different because it is backed by something and only lives off of 3-4% interest annually.
00:00 Understanding the MTL Token
Section Overview: In this section, the speaker explains how the MTL token works and addresses concerns about its vulnerability.
Creating More Tokens
- The speaker explains that creating more tokens is not the aim of the system unless it was a scam. 02:37:25
- Tokens are only created when someone buys them, and they are burned if someone returns them to the fund. 02:38:18
- The system has 20 signatories who must approve any transactions involving new tokens. 02:37:56
- If one of these signatories goes rogue, others can veto their actions. 02:40:14
- The chances of all 20 signatories agreeing to profit off the system are much lower than in a government scenario. 02:40:42
Investing in Projects
- The fund invests in projects that haven’t returned any income yet but believes in them. 02:41:30
- Even if one activity fails, there are others to compensate for it like an ETF or Dow.02:41:36
- Bitcoin network is considered most secure and decentralized compared to other networks like Stellar Network used by MTL token system.02:42:25
02:43:32 Montenegro and Decision Making Process
Section Overview: In this section, the speaker talks about Montenegro as a holiday destination and the decision-making process in their organization.
Montenegro as a Holiday Destination
- The speaker expresses interest in bringing their family to Montenegro for a holiday.
- They mention that people from the UK are not familiar with Montenegro as a holiday destination.
- Spain and Portugal are more popular destinations for people from the UK.
- Eastern Europeans seem to be more interested in visiting Montenegro.
- The speaker explains that decisions are made through secret chats on Telegram.
- When someone has an idea, they issue a statement on Telegram in one of their secret chats where they clarify and justify the need for it.
- There are several chats for different stages of decision making: first reading, second reading, and final reading.
- During the first reading, they discuss the feasibility of the idea and any objections can be raised or vetoed right away.
- The second reading is when they clarify wordings or reformulate something so that everyone agrees.
- The final part is when they make the final decision. As long as nobody vetoes it, it gets passed onto Stella (the blockchain).
- Anyone who has MTL can enter another chat/channel where they can see which decisions have been made.
Writing Decisions into Existence
- They have their own server and website specially designated for these operations where they create a new line linked to one of these offers with a specific number (30 of 31 of 41 etc.).
- They add a little description to make sure that this is what they are talking about because it has a specific number.
- It shows all the ideas being implemented but probably not rules or regulations on the blockchain.
- You just have the number of that decision and hash on blockchain.
- The speaker confirms that this is their governance model.
- They mention that it is transparent to as much a degree as possible.
02:50:28 Holding Meetings to Discuss Current Situation
Section Overview: The speaker suggests holding meetings every month or so to discuss the current situation. These meetings are optional, but most people are willing to attend in person. However, most decisions are made online, so even those living in different countries can stay informed.
- Suggests holding meetings every month or so to discuss current situation
- Meetings are optional but most people are willing to attend in person
- Most decisions are made online
- Even those living in different countries can stay informed
02:51:11 Interest in Governance Model and Experiment
Section Overview: The speaker expresses interest in the governance model and experiment being conducted. They want to be able to talk about it with others and believe many people will be interested as well.
- Expresses interest in governance model and experiment being conducted
- Wants to be able to talk about it with others authoritatively
- Believes many people will be interested as well
02:52:08 Hope for Longevity and Becoming an Example
Section Overview: The speaker wishes the experiment all the best and hopes that it has longevity. They also hope that it becomes an example for others.
- Wishes the experiment all the best
- Hopes that it has longevity
- Hopes that it becomes an example for others