Time and Bitcoin.

Regarding time, there is this really interesting theory, mostly found in the Bitcoin community, which essentially says that it just doesn't make sense to use fiat currencies such as the USD, or the EURO. The reason why is essentially because when you work for a company, you convert time into USD. Because you spend time, and you receive a salary which is in USD, or any other fiat currency.

But it doesn't make sense, because for the EURO for example, there is a 1 to 2% inflation during normal years (without taking in consideration years like this one where there is a crisis). But this inflation essentially means that every year, your time is valued up to 2% less. Ridiculous, isn't it? So why would you start using USD? Why not use something like Bitcoin, which has a very very tiny inflation and will in the following years most likely switch to a form of deflation (because people lose their private keys, send their BTC to wrong addressses,...). While it's an incredibly interesting way of thinking, which Misir Mahmudov pioneered if I'm not mistaken, it doesn't make sense. The reason why is because this theory only works, if everyone adopts Bitcoin, and everyone starts using it. Which is currently obviously not the case.

Because if you convert every time your salary into Bitcoin, or you are directly paid in BTC, but no one uses BTC, you will 1. always have to convert your BTC into USD to live, 2. you will most likely win, but also lose money depending on how BTC behaves against the USD. And that's the big flaw with Mahmudov's theory.


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