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I’ve literally never heard of anyone refusing to work for fiat currency, due to concerns that it will be diluted. On the other hand, I’ve heard from innumerabl
by yunohn 6y ago
I’ve literally never heard of anyone refusing to work for fiat currency, due to concerns that it will be diluted.
On the other hand, I’ve heard from innumerable people that crypto’s volatility drives them away.
- rawtxapp 6y agoBecause they never had the alternative to fiat. Some professional players [1], tech workers [2], city workers [3], etc, are starting to get portions of their salaries in BTC. You can always take fiat from work and save it in BTC as well. It won't be this volatile forever, as the market cap gets larger, the volatility goes down. 1: https://ftw.usatoday.com/lists/nfl-draft-trevor-lawrence-cryptocurrency-bitcoin https://ftw.usatoday.com/lists/nfl-draft-trevor-lawrence-cry... 2: https://finance.yahoo.com/news/olaf-carlson-wee-first-coinbase-142339436.html https://finance.yahoo.com/news/olaf-carlson-wee-first-coinba... 3: https://www.newsweek.com/miami-passes-resolution-allow-paying-city-workers-bitcoin-attempt-woo-big-tech-1568784 https://www.newsweek.com/miami-passes-resolution-allow-payin...
- yunohn 6y agoBut all of these people make significantly larger sums than any average person. And, for sports stars, they make lots of side-money via endorsements. To reiterate my earlier points, none of them are doing this due to dilution concerns; rather the usual crypto speculation to cash out massive gains. This neither fixes nor mitigates any sort of wealth inequality.
- wufufufu 6y agoWhat happens to wages when the QE occurs? Nothing, they stagnate. What happens to real estate and securities? They skyrocket. I don't care if it's cryptocurrency that we end up using. As long as we can pay people in some kind of security that cannot be inflated, then wages cannot be silently garnished via inflation.