Replying to Avatar Nika

Ok... hanging around here with all the Bitcoiners, I get why we would want our money to hold its value. It represents the work you put into the economy. The value you have produced, right?

But what is the reason it should grow over time? The value of the work I did yesterday isn't more valuable today, so why should my money, which is supposed to represent the value of my work, go up in value?
Avatar
๐–‹๐–Ž๐–†๐–™๐–‰๐–Š๐–“๐–Ž๐–Š๐–— (ยฏ`โ—•โ€ฟโ—•ยดยฏ) 2y ago

What money r u talking about? Fiat goes down in value due to money printing. If the work youโ€™ve done is worth 1 bitcoin yesterday it is still worth 1 bitcoin today, but it will take more fiat to purchase said bitcoin because the fiat is worth less today

Reply to this note

Please Login to reply.

Discussion

Avatar
Jeff Swann 2y ago

Well if the work you did previously earned you 1btc & you kept it then you still have 1btc. But even in a fiat free hyperbitcoinized world, the work you have done previously will earn you less btc in the future because the amount of goods relative to bitcoin will increase forever. Work that produces the same amount will earn you less btc as time progresses because less btc will buy you more.

Total btc = total stuff

Total btc always stays the same & total stuff always grows

Same work produces same stuff

Same stuff = smaller % of total stuff = smaller % of total btc

But most people will have ever increasing access to better tools which will also make them more productive. So similar effort may produce much more stuff.

Avatar
๐–‹๐–Ž๐–†๐–™๐–‰๐–Š๐–“๐–Ž๐–Š๐–— (ยฏ`โ—•โ€ฟโ—•ยดยฏ) 2y ago

Yes and no. You will get less bitcoin but it will be worth more. In a fiat free world the more stuff you make the less they will be worth. So stuff gets cheaper over time.

Avatar
Nika 2y ago

Isn't that what he just said, but with less words? I don't see the "no" part of the "yes and no".