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0 sats \ 0 replies \ @mudbloodvonfrei OP 28 May 2023 \ parent \ on: How would credit work post-hyperbitcoinization? bitcoin
Well, in theory, your salary should go down in bitcoin terms. As the purchasing power of bitcoin goes up it becomes very expensive for your employer to pay you the same nominal sum (unless the value you provide as an employee is always increasing but that too approaches an asymptote). The nominal price of your house might go down as well (although this is hard to predict and depends on local supply and demand - a penthouse in NYC might even appreciate in bitcoin terms because there is high demand and no one can arbitrarily inflate the supply of penthouses overlooking Central Park). The longer the term of the loan the more difficult it is for you to pay me back even in nominal terms, much less with interest. So it's very difficult to justify lending you money.