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El Salvador uses oracle pricing of goods in USD when paying in BTC. Which solves over half of the equation. The other half, of course, is people that choose to

El Salvador uses oracle pricing of goods in USD when paying in BTC. Which solves over half of the equation. The other half, of course, is people that choose to continue holding BTC would have wildly fluctuating purchasing power ether way.

grey-area 5y ago
By oracle pricing I assume you mean they actually pay salaries in USD (a reasonably stable currency), then convert to BTC at the last minute in order to try to avoid price fluctuations - this doesn't help any of course if it crashes right after they were paid and they can't pay their rent. What a terrible way to be paid - you get paid and then your salary may drop in price by 10% that day, and you have no idea whether it will happen or not. This is the sort of thing that starts revolutions.
- emteycz 5y ago
  What a great way to be paid - you get paid and then your salary may rise in price by 100% that day, and you have no idea whether it will happen or not. This is the sort of thing that starts vacations.
  - grey-area 5y ago
    I would be extremely unhappy to be paid in such an unstable currency without any sort of hedging.
    - emteycz 5y ago
      Who's stopping you?
- vmception 5y ago
  No I wasn’t referring to salaries and no I wasnt referring to just in time asset purchases. Oracle pricing just determines how much bitcoin - already owned - will be sent for a payment at the time of purchase. No more, no less.
  - deleted 5y ago
    [deleted]
  - grey-area 5y ago
    Oh I see you mean the pricing of assets is actually in USD, but then they convert to bitcoin at the last minute, in an attempt to avoid the instability of bitcoin (which renders it entirely unsuitable for pricing anything). I like the cute name though - oracle pricing. But this won't help you if you're paid in bitcoin then it crashes, it will make it even worse than if things were priced in bitcoin where at least your spending power for the internal market would not change (even if external goods became more expensive).
    - vmception 5y ago
      > The other half, of course, is people that choose to continue holding BTC would have wildly fluctuating purchasing power ether way. yeah we covered this. buy puts to stay delta neutral. its not that hard.
      - vmception 5y ago
        *if subject to that system
      - grey-area 5y ago
        You're seriously considering ordinary people buy puts against their salary! Not going to happen.
        vmception 5y ago
        I'm considering that a service will do it for them. Be the change you want to see.
        grey-area 5y ago
        But I don't want to see this change! I don't want to have to worry about buying puts against my salary whether through a service or not. I want a stable currency to transact in which isn't a get rich quick scheme and doesn't reward early holders more.

grey-area 5y ago

By oracle pricing I assume you mean they actually pay salaries in USD (a reasonably stable currency), then convert to BTC at the last minute in order to try to avoid price fluctuations - this doesn't help any of course if it crashes right after they were paid and they can't pay their rent. What a terrible way to be paid - you get paid and then your salary may drop in price by 10% that day, and you have no idea whether it will happen or not. This is the sort of thing that starts revolutions.

emteycz 5y ago
What a great way to be paid - you get paid and then your salary may rise in price by 100% that day, and you have no idea whether it will happen or not. This is the sort of thing that starts vacations.
- grey-area 5y ago
  I would be extremely unhappy to be paid in such an unstable currency without any sort of hedging.
  - emteycz 5y ago
    Who's stopping you?
vmception 5y ago
No I wasn’t referring to salaries and no I wasnt referring to just in time asset purchases. Oracle pricing just determines how much bitcoin - already owned - will be sent for a payment at the time of purchase. No more, no less.
- deleted 5y ago
  [deleted]
- grey-area 5y ago
  Oh I see you mean the pricing of assets is actually in USD, but then they convert to bitcoin at the last minute, in an attempt to avoid the instability of bitcoin (which renders it entirely unsuitable for pricing anything). I like the cute name though - oracle pricing. But this won't help you if you're paid in bitcoin then it crashes, it will make it even worse than if things were priced in bitcoin where at least your spending power for the internal market would not change (even if external goods became more expensive).
  - vmception 5y ago
    > The other half, of course, is people that choose to continue holding BTC would have wildly fluctuating purchasing power ether way. yeah we covered this. buy puts to stay delta neutral. its not that hard.
    - vmception 5y ago
      *if subject to that system
    - grey-area 5y ago
      You're seriously considering ordinary people buy puts against their salary! Not going to happen.
      - vmception 5y ago
        I'm considering that a service will do it for them. Be the change you want to see.
        grey-area 5y ago
        But I don't want to see this change! I don't want to have to worry about buying puts against my salary whether through a service or not. I want a stable currency to transact in which isn't a get rich quick scheme and doesn't reward early holders more.