Oddbean new post about login | logout At one point I was thinking like it would be sweet if my apartment took bitcoin for rent… Somebody changed my perspective on this today Thank god I’m not paying rent in bitcoin For example lol If someone was paying a flat rate of .1 btc for rent Every month, no matter what the fiat price So when the fiat price appreciates 10x and then your still paying that same rent in bitcoin terms Now you’re paying 10x more for rent ?? Or will it be a thing like as the fiat price goes up the bitcoin “ rent amount would go down by that much?? Like exactly and automatically #asknostr Thoughts? Same if you’re getting paid a certain amount of sats per hour at your job…. Then then the fiat price 10x’s The employer cutting the check would be wanting to give you a pay cut? Can this be automatically and instantly adjusted How will this play out and am I making any sense here? 😅
Your mind is trapped into fiat mindset. I pay rent in sats for more than 3 years now... Why am I not "afraid" like you? Because I earn in sats too! And I have big balls too! https://stacker.news/items/685719
I think your misunderstanding what I was trying to say
https://m.primal.net/KuPy.png That is fiat mindset.
Still your Mis understanding I pay rent using my bitcoin But it has to be sold for dollars first because the apartment complex will only accept fiat What I’m saying is if the apartment actually accepted bitcoin for payment Like if my rent was a fixed amount of 3 million sats Ok So every month I pay 3 million sats Then when the fiat value 10x ‘s I’ll still be paying 3 million sats every month but in faltar terms my rent got 10 times higher
Right but when landlords start denominating in sats for rent Then ur rent goes up forever In fiat terms
That’s what I’m trying to figure out !!! Can we talk about this concept more?? Deeper dive into this…
If you earn in bitcoin, spend in bitcoin, save in bitcoin, and use bitcoin as a unit of account. You can ignore the fiat conversion rate (unless you plan on buying fiat). When your living on a bitcoin standard, you've switched from an inflationary system to a deflationary one. Every year goods and services will cost less sats, rent becomes cheaper every year and Instead of arguing for a raise, your employer would have to argue for your paycut. You'll probably be able to retire off of a couple million satoshi's, because by the time you retire, your rent will have dropped from 5 million a month to 1k a month (and I'm talking about satoshi's). Groceries will cost a couple hundred sats a month maybe. I told my dad that prices of everything fall forever until they're free. He said "Huh? That's not true, just look at the grocery store or housing prices" I said "I know, exactly. Every year it costs me less and less, the only reason I was able to afford my condo, was because the prices started rapidly dropping. Buying the condo was a bad idea, because real estate is a depreciating asset akin to a liability, they fall in value over time compared to the money in my savings" And to top it off. We're living in an environment were we are getting seriously overpaid in bitcoin while fiat is seriously overpriced. I'm making millions of satoshi's a month. I'll never be able to make this kind of money again. When the dust settles and you tell your children how much you made a month in satoshi's, they'll call you a legend.
A+ post. It’s a big jump to switch over to sats as a unit of account but once you do, everything changes 🙌🏽
Thank you so much for explaining this to me. Can we talk about this more. I’m still trying to figure it out. I’m a dummy 😅🤣
I am idiot
Your on bitcoin and nostr in 2024. I disagree.
So the higher the fiat price goes the cheaper your rent gets in sats at time of payment? And when the price goes down… your rent goes up in bitcoin terms? This makes sense I think….
If you earn in bitcoin, spend in bitcoin, save in bitcoin, and use bitcoin as a unit of account. You can ignore the fiat conversion rate (unless you plan on buying fiat). When your living on a bitcoin standard, you've switched from an inflationary system to a deflationary one. Every year goods and services will cost less sats, rent becomes cheaper every year and Instead of arguing for a raise, your employer would have to argue for your paycut. You'll probably be able to retire off of a couple million satoshi's, because by the time you retire, your rent will have dropped from 5 million a month to 1k a month (and I'm talking about satoshi's). Groceries will cost a couple hundred sats a month maybe. I told my dad that prices of everything fall forever until they're free. He said "Huh? That's not true, just look at the grocery store or housing prices" I said "I know, exactly. Every year it costs me less and less, the only reason I was able to afford my condo, was because the prices started rapidly dropping. Buying the condo was a bad idea, because real estate is a depreciating asset akin to a liability, they fall in value over time compared to the money in my savings" And to top it off. We're living in an environment were we are getting seriously overpaid in bitcoin while fiat is seriously overpriced. I'm making millions of satoshi's a month. I'll never be able to make this kind of money again. When the dust settles and you tell your children how much you made a month in satoshi's, they'll call you a legend.
A+ post. It’s a big jump to switch over to sats as a unit of account but once you do, everything changes 🙌🏽
