10 sats \ 0 replies \ @SpaceHodler 20 Sep \ on: Rambling Deflationary Thoughts bitcoin
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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