Replies (101)
Bitcoin fixes this
“The second earner isn’t working for a vacation or a boat. The second earner is working to pay the stranger watching their children so they can go to work”
Yep i went all in on bitcoin 5 years ago and got 5% CAGR. Thanks for the wealth bitcoin. Glad I didn’t buy gold.
No solutions mentioned.
I make 40k-ish a year. No fam, iust me. Not a fucking chance in hell I could ever afford my own place.
Depends on where you live but I’d say that’s a rather high threshold. When I think of poverty it’s digging for scraps at the dinner table. At 140 you’re not digging for scraps. But you certainly can’t afford an emergency
#bitcoin does not fix this but it definitely helps. When production and profits go up, while wages stay fairly stagnant…you can’t blame just #fiat. Well, logically you can’t blame just fiat.
stay humble and stack sats
Thanks for sharing
Wow. Thank you for sharing this. Puts a lot into perspective.
I’ve got two kids, single dad, but no childcare costs beyond school tuition, and incredibly low transportation costs, as primary is a work vehicle.
I’d be completely hosed if my expenses went up $40k+ a year.
Very lucky to have found Bitcoin 5+ years ago. Truly an escape hatch on a sinking ship.
Big time bitcoin hater
Just look up how much your paycheck was in gold ounces 20 years ago vs today and it's shocking how much purchasing power we've lost in such a short time.
Oh if only Green could see Orange
He’s spot on. Add in the bureaucracy and the liability you are expected to take on in most (formerly) middle class, productive professions, for a salary dwarfed by those of finance bros (mostly parasites) or developers (who work for mostly parasites) or influencers (again, parasites). Simultaneously, navigating school systems rife with social contagions and substandard teaching. Then, having to eat, and feed your family, non-nutritious slop from chain restaurants, while getting a fraction of the physical activity a human should get just to maintain, because there simply isn’t enough time in the day to do any better. It’s no wonder labor participation is off a cliff. The only rational path is to go back to single income households. Sure you have to scrimp, but you also reclaim your mis-priced time and can choose how you spend it. At least then your children might have a chance.
This was such an interesting and somewhat heartbreaking read. We all feel it, we all see it, and we’re told not to believe our lying eyes that life is becoming more expensive. To see the actual math and data broken down proving those feelings true was nice validation and a great reminder why we opt out of fiat and stay humble and stack sats.
Look at trade schools. Talked to a girl, Welder, she was making 10k a week doing 6-10’s. Lot of overtime. Point is that you make lots of money in trades, and learn skills to fix your own stuff. Self reliance.
Sounds like a Bitcoin life.
10k a week? What kind of welding are talking here? I’ve worked with plenty of welders in the aerospace industry and yes they do well but not 10k a week
Huh…
Damn... that's a black pill.
Truth
The poverty line moves up constantly. $30,000 in the USA makes you insanely rich by any reasonable standard throughout 99% of human history.
If you live the way most people throughout human history have lived, then you are wealthy beyond words.
I mean ..the guy is projecting to spend 32 k on childcare alone ..so how can he live in 31 K 😭😭😭😭
Btw .. here is my question .. if you're are spending 30 k on child care ..then you better be making 200 k ..
$31K as a “poverty line” is comedy.
A family can’t cover rent, childcare, healthcare or a single emergency on that.
That’s not a threshold. That’s survival mode 😡
before or after tax 😂
Everyday
Very interesting.
I think what is considered poverty varies a lot depending on where you live.
If the house prices and cost of living are higher or lower the amount of money someone needs to be above poverty is going to be higher or lower.
We have a very high cost of living here but I don't know anyone going hungry that isn't either drug/alcohol dependant or a bad gambler.
Except many families manage to get by with 60-80k
140k is retarded
Our grandparents were babysat by the nextdoor neighbours, or an aunty, or their own grandparents etc.
Whatever happened to that?
Sending kids to school is bad enough but paying strangers to watch younger ones feels deeply wrong to me.
That lockdown arbitrage moved me into bitcoin.
Back then, my gut feeling somehow told me that things would get more expensive when they (the EU and other central banks) started to distribute a massive amount of new money to avoid a new economic crisis. Every business owner had the ability to go on the financial drip (we the government, we are the doctors now!). I just knew that you will be screwed eventually (you have to pay a price for that). It just felt so wrong to receive money without doing anything (you were not even allowed to do anything!). What a clown world 🤡
Which part confused you?
This is good idea. Housing should be a mandatory line to define poverty. The result will be a shocker.
This article perfectly describes how a flaw in the poverty line calculation from the 60's hide the real poverty levels in America today. Couple this with 41.7 million Americans who used used SNAP (Supplemental Nutrition Assistance Program) in 2024 and you got your self a huge hidden problem. #hungergames
View quoted note →no wonder western societies seem to be degrading at an impressive rate.
if kids are the future, this is a large cohort expressing their priorities clearly - we don’t value it. It is the epitome of high time preference
Been saying this for a while now, but most people are like 😩😫 "you don't understand economics, it ain't true".
The Global Recession, Mother of all Recessions isn't coming, it's been here, slowly but surely, all along.
All we can do now is 🚧 P R E P A R E 🏗️
Few..
View quoted note →Isn't fiat actually the problem? Well I guess specifically the debt based fiat that needs asset inflation but not wage inflation?
Wow. I asked grok to complete this for Australia and spat out around the 150k mark. After tax it was about the 10k a month mark which is crazy. I would agree with this assessment being based in Australia.
Fiat definitely is a huge problem. But fiat does not make executive board decisions on employee benefits and wages…unless the CEO name is Fiat.
I think this quote from 1984 is fitting:
The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.
Just don't ask to see their credit card balance.
This is addressed in the article
It's a positive feedback loop if the line is moved up. More people become eligible for benefits, more money will need to be printed to cover it. Making the gap even wider.
What this also means is that Bitcoin is absurdly undervalued! Which we already knew.
You completely miss the point. I am doing what I enjoy and want to be doing. Thats not the issue. and bitcoin will change nothing.
She was working at a refinery. I checked with another welder and he confirmed. Union folk
Dude if you don't read and understand the article there is no need to comment.
Got it. Capitalism = bad.
1
This springs to mind.
for a lot of human history, people had access to decent food, tight communities (= no need for paid childcare), simple homes.
Rich" depends very much on what you're measuring.
I guess I did. So what is your point exactly?
What is your time line? And why do you say Bitcoin changes nothing for you?
That the economy is fucked. That people who are not below the poverty line are still essentially living in poverty. And how would bitcoin change anything? Its not going to magically make housing affordable. And cant pay rent with it. Also, maybe I do, maybe I dont, but what makes you assume I have none?
I didn’t assume you have none since you’re here on NOSTR. Given a longer time horizon Bitcoin makes everything more affordable. And yes, you can pay your rent in Bitcoin. Strike has a bill pay feature, Aqua has a credit card feature, or you could buy gift cards. There are ways.
I agree with the economic outlook in that things are getting very expensive. Try used car shopping!
That’s great that you are doing what you want to do. I wish I could say the same.
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Send a direct text to me. +1(786) 846-7300 Would love to share an ongoing crypto project. 🇺🇸
Ok let me put this another way. A one bedroom in my area would be about 50% of my monthly pay. Bitcoin cannot change that, nor help that.
Yeah, that’s a problem. Honestly, I would be much the same situation if I didn’t marry a good woman 20yrs ago that makes about 4x my income. Paid cash for her phd. Our first house was small, but nice. Affordable. Not a very good neighborhood tho. 13 years later we bought the house we wanted with equity.
You can do it brother. Patience, hard work, frugal living.
Yea Im not really stressing it too much. Got a roof over my head and the owner / roommate is a friend so I dont have to worry about losing that. I was just venting more than anything.
This reveals the extent of the theft and destruction caused by the parasites controlling everyone (before Bitcoin came to destroy them).
I can't quit thinking about this... I've often wondered how anyone making even the average household income survived with the constant devaluation of the dollar. Now it's clear - they're slipping beneath the surface at an accelerating pace!
They never considered the poverty line as questionable? This author is a fucking twat.
Poverty isn't lack of cash, it's the illusion of abundance in a system rigged to extract.
Ah yes, let's live like primitive people, Instead of expanding our flourishing with science, technology, and Bitcoin. 🤡🤡
Nobody mentioned capitalism. Why do you blame capitalism?
Without assets and a healthy steady income, you are being left behind in the worst possible way.
@Lyn Alden says “nothing stops this train,” and that is becoming more obvious every day, but what about the other train… the escape train.
What happens when the opt-out train fills up and leaves the station?
I presume the fallout won’t be personal, it will be multigenerational.
I don’t.
Oh. So why did you mention capitalism?
A few seconds looking at you note history and made an educated guess.
Educated guess to what? Did I ask you question other than clarification on your “huh” remark?
It’s not complicated, I was curious what you meant by your first reply because what you said bitcoin doesn’t fix would be a somewhat unique opinion. I replied “huh…” because I was curious what perspective you had that made you feel that way. Then I looked at your note history and answered my own question.
Its not just America. Property is a place for deep-seated and immoral gains.
Oh, it’s quite simple. I will lay it out for you and also no run from a discussion.
Productivity per worker goes up.
Profits go up.
Number of dollars go up.
Revenue goes up.
Assets go up.
Wages are stagnant.
It’s not JUST a fiat problem. If it was, wages would be going up proportionately to the productivity, revenue, and dollar increases. This is not me asking…it’s more like a math problem unless you can explain wages not going up for me.
So even if you have a scarce asset/commodity that does not automatically increase wages. Again, this is not left field idea…it’s basic math.
But good question and thank you for asking, conversations work better that way.
Personally I think the more basic math would be understanding that your purchasing power is based on an ever inflating denominator, and that causes the problems you are pinning on corporate greed.
We have expanded. That’s the point. Live like someone from the 50s and you can buy all they had and more. What do you think healthcare in the 50s was like? And travel? And entertainment?
Indeed. People’s standards go up, and new technologies don’t have prices in the past. How much did it cost to fly to Paris in 1950? How much did it cost to talk to your friends or family across the country in 1980? How much did drugs cost I the 50s that weren’t invented until 2000?
so this is like 70+% of the country? time to opt out of fiat
Debasing of currency, what problem does that cause which would inhibit corporations from paying proportionate wages compared to growing profits and rising inflation?
I’m not exactly sure what you’re asking.
Big corporation executives comp plans are largely based on stock performance, which is directly influenced by the ebbs and flows of the money printer.
But if you’re asking why those executives don’t refuse that comp plan to ensure the average worker makes more, I’m probably not qualified to provide an answer other than people seem to like making lots of money.
Profits is dictated by revenue minus price. Stock price is dictated mostly by buying and selling (sentiment) and also gambling to beat inflation.
Your last paragraph is correct and asking the right questions.
When you say "insanely rich" what do you mean?
What state?
Third world vibes:
"We have created a system where the only way to survive is to be destitute enough to qualify for aid, or rich enough to ignore the cost. Everyone in the middle is being cannibalized. The rich know this… and they are increasingly opting out of the shared spaces:"
Everyone in your neighborhood would dream of being you
I haven't stopped thinking about this article or talking about it since I read it at like 4:30AM after I saw this post.
View quoted note →😥
Yes most everyone will need #ProofOfWork to swallow orange pulp so …
My idea is to have a #benefit #auction &
sell items on here and to the fiat market & then come back annually and make an annual video to show how Bitcoin is beautiful
#Anyone
🫂🫂🫂 No wonder many of the kiddos aren’t all right … so how to penetrate minds and souls matters
And
Decades of regulations preventing necessary housing from being built (single family zoning, environmental regs weaponized by NIMBYs) have made housing insanely expensive. Housing shouldn’t be treated as an investment. It’s a necessity to live. Sorry if building more housing may hurt a homeowner’s net worth, but ensuring housing is affordable is more important.
Also privatizing transportation costs via car dependency, making us slaves to the auto industry is insanely burdensome to the working class. Return to tradition - design cities so that people can travel using their legs instead of giant wheelchairs.
View quoted note →
