Yarik Sychov 🫂 on Nostr: ...

The Distorted System: How Time and Satoshis Can Bring Equality to Labor and Compensation

As I sat in a luxury house, surrounded by opulent decorations and extravagant furnishings, I couldn’t help but feel a sense of unease. The bench I was sitring on had a price tag of $20,000, a small expense for the wealthy owners, but a staggering amount for the average person. This got me thinking, what is the true value of labor and time in our society?

There is a common sentiment that the current system is flawed, where one part of society holds all the power and wealth, while the other part struggles to make ends meet. The wealthy elite, who have largely inherited their fortunes, very often do not place value on the labor and time of others. It's not a matter of malice but rather an emerging effect of the existing structure. Those in power, the very wealthy ones have close to unlimited amounts of chips, which they use to buy luxury items without a second thought. This creates a contrast that illustrates the actual worth of the labor and time of those who work hard to earn a living.

The more of something one has, the more worthless it becomes. Our education, experience, labor, and time are all worthless to those who compensate us with chips that they possess in nearly unlimited amounts. It is simply a fact.

We sweat for work, travel for work, spend time away from our families, and spend years in other countries, all to exchange our precious time for something that has little to no value to others. This is a never-ending cycle, where one part of society holds all the chips, while the other part chases after them their whole lives. For some, the chips are completely worthless, while for others, they are the basis of all their worries in life.

Labor, however, is not worthless. In fact, one can argue that labor is the generator of monetary energy and consequently - a value.

The current construct is fundamentally distorted because it has two value systems connected only through the labor of the working class. One part of society controls the system, increasing the number of chips available to them at will without working, while the other part does all the work to acquire these chips.

There is only one factor that equalizes the system - time. Time is universal and uncontrollable by any single group. Every person has a limited amount of time, and each has an understanding of the value of every minute, because no participant can simply create more minutes.

I will not delve into the details of why Bitcoin serves as a worldwide decentralized clock, and subsequently, everything else. The Bitcoin emission system is tied to time through physics, with Bitcoin network operating at its own frequency, once every 10 minutes on average. This frequency is connected to the physical world through the energy expenditure required for proof of work.

Work is defined as the amount of energy expended to move a mass against a resisting force. Work is essentially the energy expended over a period of time. In essence, bitcoins measure the work done over time, as established by the network and its frequency, which cannot be altered or controlled in any meaningful way.

When used in a social system, bitcoins are a unit of monetary energy. As no one controls the frequency or issuance of bitcoins, this system is ideal for compensating time expenditures. In principle, bitcoins represent a unit of monetary energy within the International System of Units (SI). Ideally, any work performed should be expressed in the number of bitcoins, whether it’s cleaning floors or a presidential post. The number of bitcoins determines the value of the work done for society.

Similar to a generator producing energy in watts per hour, a person who expends energy to work receives monetary compensation in bitcoins per hour. This is a fair and objective way to value labor and time, as it’s tied to the physical world and the energy expended.

The question remains: how do we evaluate the labor done by a person and the value they receive from it? The answer is simple: we don’t need to worry about this question, as the market will most effectively determine the value.

If such a system of labor compensation is adopted, it eliminates the inequality of the two systems, bringing all market participants to complete equality, where the only mechanism for determining value is the market itself and the direct value of the work done. It’s a system that values time and labor fairly, and it’s a system that can be adopted to create a more just and equal society.

How do you think we can implement such a system in our society?

#bitcoin

p.s. the spiral chart was created by @therationalroot