20 sats \ 1 reply \ @Bitman 6 Oct 2023 \ on: The Downstream Effects Of Currency Debasement bitcoin
Hi @TheBTCManual,
Yeah, that sounds pretty bad. I'm guessing that it's going to be more expensive buying things separately (but good for the owner). I think you're also making the point that the shop owner paying lots of Rand through card fees? These passed onto the customers I'm sure...
The ironic thing, that you mentioned, is that the answer could be right there under their noses as they're selling (I'm guessing) Azteco Bitcoin vouchers.
Bitcoin adoption aside, the situation also sounds ripe for people to get together and open a food cooperative (with a big Bitcoin accepted here sign naturally).
Yeah for the shop owner, he is making a little extra by offering the service of selling individual items or amounts that aren't standardised but this off settting can only go so far, and I'm wondering at what point people realise things aren't getting more expensive but its currency debasement driving it, yes energy scarcity locally and energy prices are a part of it but eventually those things fade, so at what point in the process of elimination of reasons do you finally get hey I need another money, chances are people will go to stablecoins and I will face palm myself but okay people have their own way of getting to a destination or conclusion
For sure incentives drive behaviour, if there is profit to be made, people will monetise their land, to grow fruit or vegetables and meet that demand, and hopefully they won't want to sell their labour and time for a shit compensation
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