| |
| ▲ | dgellow 18 hours ago | parent [-] | | So, it really doesn’t matter that your job is paid in BTC, given that you could just convert your USD income to BTC whenever you want | | |
| ▲ | dasyatidprime 17 hours ago | parent [-] | | That doesn't follow. I'm pretty sure they're talking about the effect of nominal wage stickiness: you're not constantly renegotiating your rate, so when there's fluctuations in relative value, it matters what unit the original number is denominated in. Compare with the case of a US expat being paid a steady salary in USD and converting to the local currency to make purchases, if you want an example with a similar mechanic but very different intuitive feel and practicalities. (I'm not sure they're right about the overall effect though.) | | |
| ▲ | unselect5917 15 hours ago | parent [-] | | You basically nailed it. USD crashed in the 1970s after the Nixon shock, and is basically a shambling corpse losing 3-8% of its value every single year while BTC is 600x the value of a 1913 dollar... and trending up: https://i.imgur.com/PJT01T8.png Even if they don't give me a raise, I'll still have more purchasing power at the end of a year rather than less as the case with USD. |
|
|
|
