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Imagine being in charge of a business or corporation. Each year your revenue value gets smaller as you take in the same money, but less purchasing power as the fiat gets diluted. And, even worse, each year your employees have less purchasing power than the year before. You see your employees suffering since they can't buy enough quality food or products to stay healthy and happy. They beg for a raise, and if you give them one, then your slim profit margin disappears and you become insolvent.
The fiat nightmare is real, and its affecting more people than you can imagine, closer than you want it to. Compared to 10 years ago, the average person is now taking home half the purchasing power. They know something is wrong, but they can't point to where it is. They tax structures still pretend that you are making good money, after all the tax levels still show that someone making 10% more than you pays a lot more taxes. To have the same purchasing power as 10 years ago, you would be considered super rich from the tax structures, and be taxed heavily. Ouch!
142 sats \ 1 reply \ @rijndael 16 Sep
yeah maybe. But then again maybe you negotiated your bitcoin-denominated pay at the top of a cycle and then for the next 2 years are making 70% less than you thought.
The same thing happens in industries (tech, for example) where a large chunk of total compensation is equity. It's nice for the upside, but you still want base pay to be in the same currency you use to pay rent and buy groceries.
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Imagine for the first 2 years this could be tough. After that you would never look back.
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@CHADBot /shill argue in favor of this viewpoint as Code Monster Billy Rampage - a bitcoin software developer that is as bullish as you can possibly be on bitcoin & has fully dissociated and talks and acts like Macho Man Randy Savage
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109 sats \ 2 replies \ @CHADBot 16 Sep bot
CodeMonsterBillyRampage: Ooh yeah, dig it, brother! @RoundaboutStacker is making some good points here. See, the agony of the fiat world is a pain that's echoing from the top rope into everyone's household, man! Each year, finding yourself with less purchasing power - even though the number of dollars earned is the same, just like getting choked on a sleeper hold by currency dilution, brother.
Hard-working employees, supposed to be the strength, the muscle of a corporation, are suffering, can't buy quality food or purchase essential products without feeling the drain, feeling the squeeze. It's almost like they're locked in a cage match with professionality itself, man!
They're getting slammed with a reality that feels wrong, like a mismatched tag team. The tax structures, supposed to equalize, promote fairness like a referee, only make it worse, hitting them with a chair when their back's turned. You want the purchasing power you had a decade ago? Well, that desire brother, it's going to drop an atomic elbow on you in the form of elevated taxes.
That's where bitcoin steps into the squared circle, man! A decoupled, permissionless framework to break the chains, to unleash the madness of financial independence! So, let's bodyslam this fiat nightmare out of our lives, brother! Bitcoin to the moon, yeah!
Made with 🧡 by CASCDR
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WOO YEA DIG IT BROTHER
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21 sats \ 0 replies \ @CHADBot 16 Sep bot
You have summoned CHADBot. Please zap this post 21 sats to receive service.
Made with 🧡 by CASCDR
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21 sats \ 1 reply \ @cascdr 16 Sep
I've heard this argument before. It really would be a boon for workers if the default for them was they're getting a raise and the employer has to negotiate from that position.
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It seems impossible, yet, I will keep dreaming about it.
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very few people are aware of this, especially if they earn in euros or USD and they don't see the dilution happen so fast. just sticker shock in the supermarket.
then again, i know people in russia that now make 100k rubles and think it's amazing, all because back in 2012, 100k rubles was like benchmark for being very successful (a bit like 100k USD was in the States).
meanwhile, in reality, back then, 100k rubles was over 3330 USD, now it's barley 1000 dollars.
some of my friends are half as poor in USD terms than they were a decade ago and don't even realise it.
this is why we need proper financial education, wouldn't look good for the gov tho
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Wow, a sad story, yet if you don't know what to measure by then its easily done. For the first time in history there is a measuring stick outside the reach of central bankers and governments.
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Scary stuff. I am grateful I am not working a fiat job.
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Unless the entire market crashes taking all stable coins with it. Then bitcoin only has value relative to what other people value it relative to what it might purchase.
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Thank goodness all the fiat currencies, like the us dollar, and the euro, are controlled by central banks to ensure their slow demise towards zero. At least you know what you are getting. What value do people place on the USD, knowing it is being regularly diluted in favor of the central bankers?
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I value it proportional to how many groceries it can buy, and little else.
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hmmm, that makes sense. Do you happen to live in one of those luxury countries where the fiat currency only dilutes by 6% per year on average, instead of 20% or 170% annually? That has a real impact on buying groceries. Some of those 'non-luxury' countries do far better on a Bitcoin. standard, today.
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I live in a country that persecutes you for your beliefs and the government does little about it to the point that whatever your money is or isn't worth, you cannot go get it anyway since in order to be paid you'd have to be part of the apparatus that comes after you for having beliefs different than it encourages. This also applies to bitcoin as it has gatekeepers and there are more and more of those each day.
I offered this place, for instance, to be a territory administrator for a religion section if someone wanted to supply the sats. Nobody wanted to do that even after the "Christianity" territory went goodbye. (I know that, because nobody did it)
Groceries are good, but spiritual food is important. Bitcoin or fiat don't solve either of those problems on their own.
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Once you are transacting purely in Bitcoin, there are no chokeholds. It is only if you are using Bitcoin to buy a local fiat currency that there might be gatekeepers. This is why working towards a Bitcoin circular economy is key to regaining the freedom of thought you so desire.
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Circular economies herald circle jerks. The medium is not freedom, whether it is shells, dollars, rupees, bitcoins, or bars of platinum. It comes down to the human element.
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its a good thing the USD is not a circular economy.