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π”Ήπ•¦π•”π•œ
npub1re8y...j65k
Technology gives you more for less, at an increasing rate. This drives productivity and causes the marginal cost of production to trend to near-zero over time. In a competitive environment, prices fall to the marginal cost of production. This means that, over time, prices SHOULD fall. Here’s the issue: Our current system measures monetary value using an index with units that increase over time forever (fiat), so it’s not easy for people to understand that technology makes things cheaper to produce, when the price of these β€œthings” is continually increasing. When you begin to use an index with units that do not increase over time, but stay fixed forever (bitcoin), it starts to become painfully obvious that everything will get cheaper in bitcoin terms, forever. Once that idea clicked for me, I felt guilty spending fiat on anything other than bitcoin. I admit, I still spend fiat on dumb shit, but at least I’m spending dumb shit to buy dumb shit. My bitcoin will sit safe n tight and I’ll continue stacking and sleeping well every night. Thank you @Jeff Booth for explaining this concept in such a simple yet thorough way. I feel like I have a crystal ball thanks to you, and that’s pretty damn comforting considering all the uncertainties we have in the world. One thing is for certain, bitcoin is the answer.
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