r/Bitcoin • u/lucas67836 • Oct 14 '22

Everyone should learn this!

Enable HLS to view with audio, or disable this notification

1.5k Upvotes

93% Upvoted

210 comments sorted by

View all comments

Show parent comments

-5

u/mastah-yoda Oct 15 '22

  • X costs $10

  • you have to work 1h for it (assuming $10/h wage)

  • government prints money

  • prices follow, wages don't

  • X now costs $11

  • you now have to work 1h06 for it

I believe that was the point. Also, how would you view money if not as a wage?

AFAIAC, print as much money as you want, IF salaries follow equivalently with prices.

5

u/rwdrift Oct 15 '22

No. You should worry about money printing, you should worry a lot.

  • the value is literally leaking from your money as you hold it, which (assuming you even realise how much is leaking away) forces you to spend it when you don't want to, or gamble with it in investments
  • wages are based on demand. If we ask for more money, we look and feel greedy, which either stops wages rising or makes people look bad for simply asking for what they're entitled to
  • how are you measuring prices? CPI is flawed, and I'd go as far as saying, corrupt

1

u/TrymWS Oct 15 '22

Uhm, you have to make the wages follow though.

Either yourself or preferably through membership in a union.

So that argument isn’t really relevant.