oren_z0 on Nostr: Bitcoin is the asset that costs the least to protect from theft and debasement over ...
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?
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?