Crypto crashed and brought NFTs with it.
  • jarfil@beehaw.org
    3·
    1 year ago

    High volatility is not a problem for a currency:

    • work January, get paid $1000, pay $1000 in due bills
    • work February, get paid $25000, pay $25000 in due bills
    • work March, get paid $50, pay $50 in due bills

    Volatility is irrelevant to a currency, unless you want to treat it as an investment.

    • Sas [she/her]@beehaw.org
      2·
      1 year ago
      • work January, get paid 1000, pay 600 in bills and lay 400 aside for potential emergencies
      • work February, medical emergency comes up but medical bills now cost 10000 so you can’t afford them with the 400 you set aside and you also can’t work because of the emergency so you take 20000 debth to repay the medical cost and other bills
      • work March to repay your debth, but you only get 50 while still having a debth of 20000
      • jarfil@beehaw.org
        1·
        1 year ago

        Volatility is irrelevant to a currency, unless you want to treat it as an investment.

        can’t afford them with the 400 you set aside

        Meaning, you treated currency as an investment. What did I just say?