Bitcoin is the asset that costs the least to protect from theft and debasement over time (once you learn how - which in itself has a price for non-technical people).
Does the rest of the world want to denominate the prices of things according to this asset? I doubt that - the majority of people spend most of their monthly salary at the same month they have earned it (including paying interest on previous debts), and save only a little, and since employers will always prefer to sign long “fixed income” contracts with their employees in a currency/token that loses value over time, the employees would prefer that the prices of most things will be stable compared to their salary.
In developed countries that make a lot of effort to keep the unemployment rate low, Big expenses could be denominated in BTC, like house prices, rent and of course things that depend a lot on international markets (vacations, fuel, flights, electronics, etc.).
But in developing countries, who knows?
oren_z0 / Oren ☂️
npub1xv…5m7f8
2024-08-17 12:55:22
in reply to nevent1q…sq0k
Author Public Key
npub1xvtw9ky0ly0ppzw8tlhdek965gjck329tga326hkzlt7c7d5tljs85m7f8Published at
2024-08-17 12:55:22Event JSON
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"pubkey": "3316e2d88ff91e1089c75feedcd8baa2258b45455a3b156af617d7ec79b45fe5",
"created_at": 1723899322,
"kind": 1,
"tags": [
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"content": "Bitcoin is the asset that costs the least to protect from theft and debasement over time (once you learn how - which in itself has a price for non-technical people).\nDoes the rest of the world want to denominate the prices of things according to this asset? I doubt that - the majority of people spend most of their monthly salary at the same month they have earned it (including paying interest on previous debts), and save only a little, and since employers will always prefer to sign long “fixed income” contracts with their employees in a currency/token that loses value over time, the employees would prefer that the prices of most things will be stable compared to their salary.\n\nIn developed countries that make a lot of effort to keep the unemployment rate low, Big expenses could be denominated in BTC, like house prices, rent and of course things that depend a lot on international markets (vacations, fuel, flights, electronics, etc.).\n\nBut in developing countries, who knows?",
"sig": "b441767b3d3938a189debc513826d099f742b4f0f3ab8f7d823b49cce7049dce65678ffafa73e8cf702885127399729ea30908f9140405503b8da9da7ff224d2"
}