Time, Value and Bitcoin

Introduction

In 2018, we spend most of our time working. To generate Value for economic cells (companies). In exchange for the value of our time, we receive money. This currency, in a way, must « represent » and « materialize » the value of our time. Yet no more currencies of the states are indexed to a safe haven (for example gold). A safe haven is an element for which we are persuaded not to lose value. Real estate, gold, diamonds are that sort of thing.

Internet:

This invention allows everyone to share and share information.

The Blockchain:

This invention makes it possible to exchange value through the internet.

The value of time:

In general, we need to know the amount of money we receive in exchange for one hour of our working time. Then with the experience one controls the value of the currency according to the price of the goods of first necessity (the bread, the water etc.).

For example in France a baguette costs 0.90 Euro. Either for a person paid 10 euros per hour: about 6 minutes of working time.

We exchange our time for Euro because we have an agreement in principle that as long as a baguette still costs 6 minutes of our time we will buy well by materializing the value of our time across the Euro. If one day the value of Euro collapses (because of what we call in a simplified way « the printing press ») then we will look for another safe haven.

Bitcoin as a long-term stable currency.

For now (in 2017-2018 and probably until 2025) Bitcoin is speculative.

Because it is a currency that is not yet sufficiently used for its main purpose (the exchange of value of our time against a baguette or a coffee with the lightning network). No one can open a bakery where they accept payment in Bitcoin because its value is too unstable for now. If Bitcoin is democratized, we will one day have the value of a « Satoshi » expressed in minute of our working time.

In tribute to its creator, satoshi is the smallest division of bitcoins.

1 satoshi = 0.00000001 bitcoin

As of 10/05/2018: one hour of work (10 euros) = 125 000 Satoshi = 0.00125000 Bitcoin.

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