Gresham’s Law. Why wouldn’t I want to spend fiat? Why would I want to spend sats, unless the future value of the item was equal to the sats future valuation ?
Discussion
How would you ever know if the future value of the item would be equal to the sat's future valuation?
the history shows that on average the two things track
If you spend 10000 sats on a ham sandwich today, does it have the same value as 10000 sats in 5 years?
Perhaps. 🤷♀️
If you skipped the ham and ate plain bread for 5000 sats, you would have 5000 sats more, in 5 years.
Why ever eat ham, again?
I think you can drive yourself literally batty calculating all value this way, and lose all ability to enjoy the present. There's no end to this doom loop because sats will never go down in value.
for sure the value of the food in its other aspects than market price have been going down for a long time 🤬
Well, that's true. You might be worse ham, later, which raises the time preference for eating ham today.
All this ham talk done got Tom T. Hall stuck in my head.
I think it’s an and. You need to be aware of both factors and make a good decision that no one else can make for you. I bought some seasoning for meat with bitcoin the other year and I enjoyed it immensely. It won’t be a regular thing I usually mix my own but it was fun to try something else and I hadn’t bought anything with crypto before. I look at it like silver, common caliber ammunition, knives and firearms. I can and have used all of those items in the place of money while making an exchange, while obeying all applicable law, but I usually just use USD.