First Published late March, 2025 By Jason Hommel
Disclaimers: I, Jason Hommel, am paid to research and write about TEXITcoin. My wife and I own TEXITcoin and we are miners of TEXITcoin.
You may have seen the billboards running in Texas, that are quoting the price in real time. The price of what? TXC.
TXC is the trading symbol for the crypto currency called TEXITcoin. It is designed to fix many of the problems of Bitcoin and our modern monetary system.
TEXITcoin was founded and is run by Bobby Gray, who, like I once did, ran a mint, and sold silver and gold. Bobby Gray studied my writings on silver and gold when I wrote “The Silver Stock Report”, a successful financial newsletter from 2002 to 2014. In particular, I emphasized that money needs to be a medium of exchange, a unit of account, and a store of value.
Using modern AI to refine my thinking, there are not just three good properties of money; but rather, there are at least 27 properties or abilities. I don’t need to list them all, but among these are fungibility, non counterfeitability, portability, transferability, accessibility, theft resistance and deterrence, scarcity, and most important, is the money going up in value, or down?
US Dollars are a horrible store of value, because of inflation.
Bitcoin is a horrible medium of exchange, because exchange fees are too high.
Bitcoin’s problems cannot be fixed. It’s basically an open source computer program, and anyone can mine Bitcoin. This creates a problem; mining is too competitive and not profitable. You need the fastest computers, and essentially free electricity, which is available in China, to be competitive, and you might not get your money back, but rather, end up with “discounted” computers. The cost to mine Bitcoin means they need to charge high fees for transfers, and this problem cannot be fixed. Buying a cup of coffee with Bitcoin can cost up to $4 to $100 in transaction fees, so bitcoin will never be a medium of exchange.
But Bitcoin did prove up the value of the concept of cryptocurrencies. Bitcoin moved up in value over 1 million times, from under 10 cents a coin to over $100,000 per coin and now it has a total value, at 21 million coins, of $2 trillion.
That’s amazing, and it has inspired the creation of over 10,000 other crypto tokens, many of them scam currencies, because everyone wants to get in on and copy Bitcoin’s success. I saw that this was going to happen immediately. Anyone can copy a computer program, and thus, there was no “true scarcity”, or so I thought.
But I was wrong in the sense that the lack of scarcity does not apply to the Bitcoin system itself. And that the existence of scam crypto coins does not take anything away from Bitcoin.
As an example. The US Dollar may be bad. It may suffer from inflation. But if the Mexican peso suffers from worse inflation, then people who own pesos might still prefer to hold dollars, thus increasing demand for dollars.
Similarly, people may invent many scam tokens, but where do they put their profits from their scams? Into something, and likely they desire to buy more Bitcoin!
I missed out on Bitcoin. Most everyone missed out.
Here’s another reason why I missed it. I thought it had to be better than silver. And I didn’t realize that it is! But it does not even have to be better than silver. It only has to be better than the many other bad fiat currencies around the world that are worse than the dollar.
I failed to realize that half the would could not buy silver, gold, or even US Dollars if they wanted to. There are capital controls, and import and trade restrictions. India, the world’s largest buyer of gold, has to pay import fees of about 20% on all gold, so they have to buy it well above market price. China has import restrictions on gold, so when it is available, it quickly sells out and is not available at any price. So half the world cannot buy silver or gold.
But anyone with a cell phone can buy Bitcoin, or any other crypto currency. And 95% of the people of both India and China now have access to cell phones! Bitcoin’s $2 trillion in market cap is still small in the realm of world finance. It’s still well under 1% of all assets. But it consumes half of 1% of the world’s electricity each year, which costs about $10 billion per year, and so, it’s not sustainable.
Some cryptocurrency will do it better than Bitcoin, whose days are numbered. Bitcoin’s bloat and excessive computer power and excessive electricity consumption and overall inefficiency are our market opportunity. If you ask the AI’s, they will tell you that Bitcoin has perhaps 10,000 times more compute power than they need to run a payment transaction platform. That bloat means they have no incentive to lower transaction fees, and likely never will.
Paypal, for example, handles trades with encryption, but it’s a private network.
Litecoin and Ethereum are two other popular cryptocurrencies that have tried to solve Bitcoin’s problems, by providing lower fees. But they are also costly to mine because anyone can mine them. Ethereum shut down competitive mining in the fall of 2022.
TEXITcoin is like a 4th Generation cryptocurrency that solves all of these problems, and more. It’s designed by Bobby Gray, who founded a mint, sold silver, a currency expert who ran the American Open Currency Standard, an expert witness who testified before Congress on currencies.
TEXITcoin is mined in Texas only, by permission only, designed to stop the computer arms race that results in lack of profits.
The United States got rich in the era of tariffs, which protected the trade among the States.
Similarly, nobody can hook up their own computers to mine TEXITcoin. You have to join the private network run by Bobby Gray. (minetxc.com) Our Sponsor ID is JHOMM
The plan is to crowdsource the funding and building of a privately run 100 million megahash mine that will be about 1/13th the size of the Litecoin network. They plan to have 35 large computer centers, each the size of a sea container, and hundreds of more individually placed computers to create a redundant and decentralized computer network to be big enough to be taken seriously, and handle all the necessary transactions.
This is the plan, and is by design, and creates many competitive advantages as follows.
- The computer mining network is in Texas only, which has the cheapest electricity in the USA.
- The size of the network is smaller, but far more than enough, so it will use less electricity.
- The excess computer capacity can be used to mine Litecoin, but the Litecoin network cannot mine TEXITcoin. By mining Litecoin on the side, this will earn money to pay for the electrical costs.
- By limiting mining so that nobody can just hook up a computer, they can mark up the cost of the computing and have money left over for advertising to grow the network of people.
- The most effective form of advertising is by paying for ads only after they work, such as through an affiliate program, which they have.
The plan is succeeding beyond expectations.
Bobby Gray has set up a Revolutionary level of transparency. Most SEC regulated companies produce a quarterly or annual reports. Bobby reports income and expenses in real time, and we can see the growth of people signing up in real time, just like we can see the price of TEXITcoin in real time on the exchanges and on the billboards.
See statistics at: minetxc.com See the three lines in the upper left corner on your cellphone and see dashboard.
We no longer have to worry if the minetxc.com project, or if TXC is growing. We can see it in real time.
Sometimes, people get confused, and start thinking of TEXITcoin like shares of a stock. No. TEXIT-COIN is a cryptoCURRENCY that is designed to function as MONEY.