Subnostr

Actually, we are aware of the depreciation/devaluation of the currency — as the case may be — the issue is that this scenario is relatively normalized so that people just move on.

techfeudalist 1y ago

Shawn, I think you’re right that most normies probably don’t consider their local currency devaluation.

I could see it as the inverse: NgU. If someone has bitcoin to spend, I assume that they believe that it will “go up in value”.

If they have both bitcoin and fiat ready to pay, they might choose the one that they believe won’t go up as much.

Speaking from my own experience, I feel these issues. Do I want to spend my bitcoin that I worked so hard to stack? That’s “going up” by 50% per year? (That’s probably magnified 10x if you have non-kyc sats that you jumped through hoops to acquire.)

Honestly, I really only give it to friends, family, and community members that I want to gift the most scarce thing other than time. If there is both fiat and bitcoin in my wallet I generally want to get rid of the fiat first.

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Discussion

Connie 1y ago

What if you have to think like a person who lives paycheck to paycheck? As a person working in an informal economy? As a person who cannot cover minimum aspects such as education or health?

techfeudalist 1y ago

I’m not sure what you mean exactly.

I would assume that such people who can’t afford to save anything will just spend whatever they receive. I guess if you can’t save anything, bitcoin’s store of value benefits won’t matter much to you.