Rambling Deflationary Thoughts
1800 sats \ 20 comments \ @TheWildHustle 19 Sep bitcoin
Rambling Deflationary thoughts
  • If you earn in bitcoin, spend in bitcoin, save in bitcoin, and use bitcoin as a unit of account. You can ignore the fiat conversion rate.
  • When your living on a bitcoin standard, you've switched from an inflationary system to a deflationary one. Every year goods and services will cost less sats, rent becomes cheaper every year and Instead of arguing for a raise, your employer would have to argue for your paycut.
  • You'll probably be able to retire off of a couple million satoshi's, because by the time you retire, your rent will have dropped from 5 million a month to 1k a month (and I'm talking about satoshi's). Groceries will cost a couple hundred sats a month maybe.
  • I told my dad that prices of everything fall forever until they're free. He said "Huh? That's not true, just look at the grocery store or housing prices" I said "I know, exactly. Every year it costs me less and less, the only reason I was able to afford my condo, was because the prices started rapidly dropping. Buying the condo was a bad idea, because real estate is a depreciating asset akin to a liability, they fall in value over time compared to the money in my savings"
And.
  • We're living in an environment were we are getting seriously overpaid in bitcoin while fiat is seriously overpriced. I'm making millions of satoshi's a month. I'll never be able to make this kind of money again. When the dust settles and you tell your children how much you made a month in satoshi's, they'll call you a legend.
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91 sats \ 2 replies \ @ek 19 Sep
  • If you earn in bitcoin, spend in bitcoin, save in bitcoin, and use bitcoin as a unit of account. You can ignore the fiat conversion rate.
it's like assembling Exodia in Yu-Gi-Oh
  • When your living on a bitcoin standard, you've switched from an inflationary system to a deflationary one. Every year goods and services will cost less sats, rent becomes cheaper every year and Instead of arguing for a raise, your employer would have to argue for your paycut.
  • You'll probably be able to retire off of a couple million satoshi's, because by the time you retire, your rent will have dropped from 5 million a month to 1k a month (and I'm talking about satoshi's). Groceries will cost a couple hundred sats a month maybe.
it's like being a boomer in reverse
We're living in an environment were we are getting seriously overpaid in bitcoin while fiat is seriously overpriced. I'm making millions of satoshi's a month. I'll never be able to make this kind of money again. When the dust settles and you tell your children how much you made a month in satoshi's, they'll call you a legend.
it's like discovering fire as a cave man
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121 sats \ 0 replies \ @thebullishbitcoiner 20 Sep
it's like assembling Exodia in Yu-Gi-Oh
“My grandpa’s deck had no pathetic cards kaiba, but it does contain the unstoppable Bitcoin. I’ve assembled all five special cards.”
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100 sats \ 0 replies \ @TheWildHustle OP 19 Sep
You had me at Exodia.
Using fiat illusions as your unit of account is like falling for your governments trap card.
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20 sats \ 0 replies \ @Akg10s33 19 Sep
Excellent information .. and also accurate! I precisely in my Bitcoin study group since last month we are keeping a statistic or record .. that we call "Good money" and "Good money .. and that is exactly our monthly expenses of food .. study .. house rent because we are migrants .. children's school and so on .. and we make the comparisons in dollars .. in soles .. and of course in SATS .. and as time goes by obviously the difference will be noticed in how I will need less and less sats to pay my monthly expenses !! 💪💪💪💪
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20 sats \ 0 replies \ @Undisciplined 19 Sep
Whenever I convert fiat to bitcoin, I think of it as essentially being free bitcoin. If the misvaluation is as severe as we think, then at most I'm paying about 5% of the real value of the bitcoin accumulated.
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20 sats \ 2 replies \ @beorange 19 Sep
Instead of arguing for a raise, your employer would have to argue for your paycut.
Wow never thought about it, in that way. Mind blowing. The world needs this.
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15 sats \ 1 reply \ @TheWildHustle OP 19 Sep
I'd recommend listening to Jeff Booth and or reading The Price of Tomorrow.
That was a mind blower.
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0 sats \ 0 replies \ @beorange 19 Sep
I will add that one to the list. Thanks for the recommendation.
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20 sats \ 0 replies \ @DarthCoin 19 Sep
Well said!
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10 sats \ 0 replies \ @SpaceHodler 20 Sep
It's incredible I'm able to stack more a month than it's going to take to retire at some point. And 99% of the population is sleeping on it.
The appreciation in purchasing power may be slower (or faster, for that matter) than some people think, but putting some numbers on it that may only become a reality in the distant future can help one detach from the fiat unit of account, because it forces generalization and the Austrian way of thinking that nothing is fixed and a good can only be priced in terms of another good (monetary or otherwise). Fiat inflation in developed countries is just too low for people to notice it and makes them think it's a fixed measuring stick. It's easier to see the 'unfixedness' in places like Argentina or Venezuela, but if you measure fiat against bitcoin you can see it anywhere.
I told my dad that prices of everything fall forever until they're free. He said "Huh? That's not true, just look at the grocery store or housing prices" I said "I know, exactly. Every year it costs me less and less, the only reason I was able to afford my condo, was because the prices started rapidly dropping. Buying the condo was a bad idea, because real estate is a depreciating asset akin to a liability, they fall in value over time compared to the money in my savings"
This is also how I do it. I don't even mention bitcoin, I just say prices are dropping rapidly and if they bother to ask for clarification I may say something like "This used to cost 1m sats and now it's only 50k". Then they have to do their own research on what sats are :) without any misinformed prejudice they may have against bitcoin getting in the way.
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10 sats \ 2 replies \ @DesertDave 19 Sep
Very exciting to me. I want to live in a community where we set the value of Bitcoin vs. goods and services. And the fiat value is irrelevant.
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11 sats \ 1 reply \ @TheWildHustle OP 19 Sep
I want to live in a community where we set the value of Bitcoin vs. goods and services. And the fiat value is irrelevant.
Marketplaces and communities on Nostr will play a huge role.
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10 sats \ 0 replies \ @DesertDave 19 Sep
I agree. It all starts there and places like stacker.
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10 sats \ 0 replies \ @jerrybature 19 Sep
In the future, stories will be full of legends who were earning, saving, and spending sats in the past.
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10 sats \ 1 reply \ @Satosora 19 Sep
Will inflation happen fast enough for the million of sats to be valuable? Not saying it wont, but I think you might need to add ten years to it.
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0 sats \ 0 replies \ @TheWildHustle OP 19 Sep
Will inflation happen fast enough
Which fiat currency are you measuring against?
Dollars, Lira, Naira, Peso, Frank, Ruble?
I'm measuring against steak, running shoes and mortgage.
Hyperbitcoinization happens at a personal level, some freaks have been experiencing hyper deflation for years and I don't see the trend stopping anytime soon especially with adoption this low.
The longer it takes the world to figure this stuff out........is the longer I'll continue being drastically overpaid in bitcoin terms. There's no rush.
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11 sats \ 0 replies \ @BitcoinAbhi 19 Sep
Very well described.
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0 sats \ 0 replies \ @the_optimist 19 Sep
If you earn in bitcoin, spend in bitcoin, save in bitcoin, and use bitcoin as a unit of account. You can ignore the fiat conversion rate.
Well said!
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10 sats \ 1 reply \ @BiTCOINNEWS2030 19 Sep outlawed
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.