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it's turns out people don't like to get a pay-cut on a regular basis. this is a fact of human psychology that's a real barrier to your system, and unless it is
by spot 12y ago
it's turns out people don't like to get a pay-cut on a regular basis.
this is a fact of human psychology that's a real barrier to your system, and unless it is addressed, bitcoin will continue to fail.
- mdpopescu 12y agoYes, this is the only real argument against deflation: people tend to look at the nominal prices instead of the real ones. (See also Mark Twain on the subject in the Yankee at King Arthur's Court.) This is a problem because, as the money increases in value, business would want to decrease the nominal salaries, and people would object to that.
- oafitupa 12y agoPeople don't like to work either, and yet they do it.