triskal on Nostr: I don’t think that’s necessarily true. Bitcoin is only “deflationary” because ...
I don’t think that’s necessarily true. Bitcoin is only “deflationary” because the total value of “The Economy” tends to increase while the monetary supply is fixed.
That means the average skill set, and therefore value, of each employee also increases at the same rate of The Economy. It follows then, the standard would be that everybody keeps their same salary because their value has likewise increased at the same rate.
Of course, some employees may become even more valuable (at a rate above The Economy) and should ask for a raise. And some people may not increase in value quite as fast, or not at all, or maybe become less valuable. And they may have to deal with a pay cut or, at worst, layoffs.
So, in the future, earning bitcoin will take, on average, the same amount of any given employee’s effort as they did before, but they will be more productive and generate more value for their employer and the world.
This is the way an economy SHOULD work.
That means the average skill set, and therefore value, of each employee also increases at the same rate of The Economy. It follows then, the standard would be that everybody keeps their same salary because their value has likewise increased at the same rate.
Of course, some employees may become even more valuable (at a rate above The Economy) and should ask for a raise. And some people may not increase in value quite as fast, or not at all, or maybe become less valuable. And they may have to deal with a pay cut or, at worst, layoffs.
So, in the future, earning bitcoin will take, on average, the same amount of any given employee’s effort as they did before, but they will be more productive and generate more value for their employer and the world.
This is the way an economy SHOULD work.