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This is a bit far stretched in my eyes. There’s a very thin line between the will to invest and greed on one side and between accepting help and digging yourself a hole. Nothing of this has to do with Bitcoin.

Laeserin 1y ago

I'm positing that machine-enforced Final Settlement forces all actors to account for the cost of a transaction *on the spot*, rather than allowing the deferred or indirect clearance of debts to cloud our judgment, allow for claw-backs, feed our greed, socialize our costs, or skew price signals.

It is a true ledger with a fair history, an impartial accountant, and immediate clearance. I think that makes it a better money. Not just better, in the sense of being "more efficient", but better in the sense of being Good.

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Laeserin 1y ago

And that's why I think it's a better money than gold. Gold is also "layer 1 money" that allows for Final Settlement, but the difficulty in transporting or splitting it leads invariably to the issuance of gold-backed debt notes, which results in a delay of the settlement and opens up corruption.

Bitcoin does not have this problem because the debt note itself *is the money*, and all debts are immediately settled *against the system*.

Laeserin 1y ago

Another thing about Final Settlement money is that it reduces the incentive to wait to pay people. Currently, salaried employees have to invest effort for a fortnight or even a month and then receive their first salary.

With Final Settlement Money, they could receive a week's worth of salary because the burden and hassle of paying them weekly (even daily!) is lower. That reduces the outstanding bill the employer owes the employee (i.e. it reduces debt).

They could simply hold their cell phone to the time clock and get zapped the salary money on the way out the door.

d23b7c1f... 1y ago

those monthly paychecks are a bear

Laeserin 1y ago

It's a free loan to the employer.

Josua Schmid 1y ago

But this should be priced-in.

Laeserin 1y ago

Through an inflated salary? Yes. It's a loan at interest that employees are coerced into making.

d23b7c1f... 1y ago

i'm afraid i force price this in by wasting a lot of time until i start doing my timesheet, and then I get productive.

Maybe there should be a new Nostr-enabled Workday where each person has an account jar of satoshis and they can tip their coworkers when they complete tasks that they need.

Managers would basically become the person that collects the most Sats and can then pay the most Sats out to allocate work.

this sounds like a toxic workplace BTW, and I would NOT want to work there. sign me up for a obfuscated salary/output ratio with the 1 month pay check

d23b7c1f... 1y ago

it would be so fun though to click submit on a Nostr & lightning -workday timesheet and the day's payment goes immediately to my Lightning wallet.

and maybe there's Satoshi rewards for Jira tickets closed. i would not dislike Jira in that world.

Laeserin 1y ago

Pavlovian Jira

Josua Schmid 1y ago

Bonus systems optimization

Laeserin 1y ago

Labour gamification

Josua Schmid 1y ago

One supporting example for your viewpoint:

We collect KPI data for the Swiss staff leasing market to benchmark them. The only good datapoint to determine the index volume is the worked hours. Money related numbers in the other hand subject to bookkeeping tricks and therefore unreliable.

Laeserin 1y ago

Yes, I know it from logistics, where the prices get fiddled around with using skonto and people delay payment to cover other bills or pressure suppliers and whatnot.

Laeserin 1y ago

And it's always, Oh, the check is in the mail. The bank was closed. That was too late on a Friday. The booking must have been wrong, let me check...