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0 sats \ 2 replies \ @035736735e 20h outlawed \ on: MONEY CLASS OF THE DAY: Money Illusion and Unit Bias, Bitcoiner style econ
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Our productivity is increasing.
If I'm 10x more productive than people were in 1968, but I can't buy 10x more stuff, then someone is benefiting at my cost.
Those selling their labour are the ones being screwed over.
we'll get the same dumb hot takes about "btc prices crashing" when a coffee jumps from 0.0001 to 0.001
I don't see such a jump in price happening. You can grow more coffee beans, machines to harvest them will only get cheaper, roasting them will only get cheaper and robot waiters will only get cheaper. They don't exist yet and we still use this stupidly expensive human labour, but as soon as they start existing, they will be cheaper and only get cheaper.
Now compare that to the difficulty of making more bitcoin...
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If I'm 10x more productive than people were in 1968, but I can't buy 10x more stuff, then someone is benefiting at my cost. Those selling their labour are the ones being screwed over. we'll get the same dumb hot takes about "btc prices crashing" when a coffee jumps from 0.0001 to 0.001 I don't see such a jump in price happening. You can grow more coffee beans, machines to harvest them will only get cheaper, roasting them will only get cheaper and robot waiters will only get cheaper.
not correct. Bitcoiners are so blinded by monetary effects that they forget that prices DO SOMETHING in a functional monetary economy. All manner of things can change impacting/undoing/strengthening the price effects of coffee compared to wages -- in your example: demographics, globalization, fashion, switch tea->coffee, harvest, competing crops etc, etc.
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