Can I try and convince you why that's not a good idea?
Let's say you and I agree that a day's wages is worth 30 or so units of my currency--well pick any value, it doesn't matter for this example. And yet the currency keeps growing in value week over week. Should I not be paying you less and less over time? If the currency increases in value 7% in a month, should I not decrease your pay proportionally?
And are you really going to negotiate that day-to-day, week-to-week, month-to-month, year-to-year? What if the value drops significantly in the middle of the day? What do I pay you at the end of the week?
After all, the value of the currency is going up. I didn't decide the value of your labor was going up. It's staying the same.
> If the currency increases in value 7% in a month, should I not decrease your pay proportionally?
The problem you're describing is really nothing new. It sounds like you're just very used to thinking in USD. People all over the world do hedges to control for exactly this risk.
If you want to tether wages to USD, you can use USDC instead of BTC. Also you can pay those wages with such low transaction costs that you could pay by the day instead of by the week or month, using current technology.
Pretty soon the transaction costs will be low enough that you can pay those wages continuously. Eliminating the idea of a "pay day" is a great social good IMO.
On the other side, the receiving party can spend their funds in "USD" with a crypto-backed credit card that draws against their USDC balance.
I don't know what that has to do with crypto though? That's how all currency works.
> And are you really going to negotiate that day-to-day, week-to-week, month-to-month, year-to-year? What if the value drops significantly in the middle of the day? What do I pay you at the end of the week?
Whatever we agree on. My current pay is mostly company stock, and that has a big fluctuation, yet tons of people seem fine to pay in stock and be paid in stock.
Let's say you and I agree that a day's wages is worth 30 or so units of my currency--well pick any value, it doesn't matter for this example. And yet the currency keeps growing in value week over week. Should I not be paying you less and less over time? If the currency increases in value 7% in a month, should I not decrease your pay proportionally?
And are you really going to negotiate that day-to-day, week-to-week, month-to-month, year-to-year? What if the value drops significantly in the middle of the day? What do I pay you at the end of the week?
After all, the value of the currency is going up. I didn't decide the value of your labor was going up. It's staying the same.