[Nursie]

There's no lever there. In a bitcoin economy there's no chance your contract gives you a fixed salary in the first place, it would be tied to some measure of inflation.

Like I said, most of the rest is just a rehash of gold standard stuff.

[ballofrubber]

> Like I said, most of the rest is just a rehash of gold standard stuff.

Exactly, however bitcoin is infinitely better money than gold and makes the "gold standard" viable. Fortunately the gold standard has a lot of proponents globally, some of whom started embracing bitcoin.

I just hope that the experiment bitcoin keeps on going and I'm guessing we will see some form of resolution, maybe even in this decade. There is a lot to learn still.

[Nursie]

Ah, I see, you haven't figured out why the gold standard was terrible either.

[ballofrubber]

Tbh. my very basic knowledge comes from strongly opinionated austrian economics literature, which tends to confirm my bias, and from [0], which at least gives me some data points to refer to.

Do you mind giving me some of your arguments why it's terrible?

[0] https://wtfhappenedin1971.com/

[Nursie]

I mean, for a start 'Austrian' economics is a joke.

There's plenty of literature out there about the end of gold standards in various countries. The upshot of it is that economies get warped by constrained currency supply and those who already have tend to get more, over those who produce or invest.

[dragonwriter]

> I mean, for a start 'Austrian' economics is a bit of a joke.

More specifically, Austrian economics is overtly and proudly ideological rather than empirical; it is about advancing an agenda not describing reality.

It's worth taking seriously, but as a particular group’s body of theology and religious propaganda, not as science.

[AnimalMuppet]

"It's terrible, it's a joke" isn't an argument. Neither is "there's lots of literature" (implying "go do your own research").

Your last sentence was decent; the rest of your post was... not very useful.

[Nursie]

> "It's terrible, it's a joke" isn't an argument.

True, it's not so much an argument as a fact. As the other poster says, it's basically a set of idealogical positions.

> implying "go do your own research"

You're right, I shouldn't have left that to implication.