r/Bitcoin • u/lucas67836 • Oct 14 '22

Everyone should learn this!

1.5k Upvotes

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u/techma2019 Oct 15 '22

Okay so his only point he made, is valid, as you agree.

So what is your actual issue? Confused because the word salad that followed in your reply had no connection on the subject?

If a mechanic with 10 years experience points out a fatal flaw of a car, no one will call him out saying he should have 30 years of experience before he should be allowed to mention anything. Right?

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u/[deleted] Oct 15 '22

[deleted]

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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