Milk - 18 sats
Bread - 12 sats
Flour - 23 sats
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Greener. Less consumerism will create less waste. Much less unnecessary junk will be created, the customers will opt for a quality over plastic crap to save in long run.
People won't rush into buying properties to hide their savings from inflation so the prices will eventually drop to a level of its utility and affordable housing will finally become a reality.
Many changes, spread over the decades (hopefully), instead of a fast crash.
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I would call it a transition to "microcapitalism", where salary income is only a minor portion of other, equity-based sources of individual wealth.
If the economy is a closed loop of finite currency in deflationary prices (driven by better efficiency and separation of labor), capital will have to be sourced from individuals, who will invest in business they know and understand - as an alternative to just saving sats.
I can see a future of very granular SMB equity marketplaces, where you can support with capital your local food supplier (or security provider), in exchange for dividends - paid in sats as well. Instead of just buying eggs, you can buy shares of the business if you think it's worth it (even the one you're working for), providing your capital in exchange of returns and a stake in something that's beyond static savings or financial speculation.
What ICO scams taught me is that equities and stock can move at the speed of internet, so if we make it transparent and hyperlocal, we have a fundamental building block for the return of a hard-money, low time preference based society.
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Taking a different approach to this, I think the value of goods in services, measured in sats, will ultimately be based on the amount of energy is produced in a somewhat locallized manner. There will always be price differences based on cost of living and other factors, but I think a major one of those factors will be the availability of cheap energy.
I'm curious if anyone has attempted to measure the value of bitcoin in energy, rather than its fiat value. There probably is an article out there, it's just hard to find by searching.
Essentially my thinking here is, for anything that you want to price, how much energy does it take to produce it? Then if you know how much energy it takes to produce one bitcoin, you have a starting point for pricing goods and services.
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Easy. Switch from debt based to equity based. Instead of mysterious credit scores you can gage risk on someone’s saving vs consumption habits.
A place to save your earnings and keep purchasing power
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It will look extreme compared to today. We may see children as young as 11 and 12 working being normal. And there will be factories in every town of one form or another. There will be lots of children in the first place. Lots of young people around. It will be an unforgiving society, and masculinity will be king.
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