Bitcoin Forum
March 29, 2024, 08:47:44 AM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: What if the minimum wage was set to 1 Bitcoin per hour?  (Read 1925 times)
EndTheBanks (OP)
Newbie
*
Offline Offline

Activity: 14
Merit: 0



View Profile WWW
January 09, 2012, 04:06:51 AM
 #1

What would be the economic effects of setting a scarce currency to such legislation?

Let's assume Bitcoins can only be legal tender in this situation. Nothing else.
1711702064
Hero Member
*
Offline Offline

Posts: 1711702064

View Profile Personal Message (Offline)

Ignore
1711702064
Reply with quote  #2

1711702064
Report to moderator
1711702064
Hero Member
*
Offline Offline

Posts: 1711702064

View Profile Personal Message (Offline)

Ignore
1711702064
Reply with quote  #2

1711702064
Report to moderator
Be very wary of relying on JavaScript for security on crypto sites. The site can change the JavaScript at any time unless you take unusual precautions, and browsers are not generally known for their airtight security.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1711702064
Hero Member
*
Offline Offline

Posts: 1711702064

View Profile Personal Message (Offline)

Ignore
1711702064
Reply with quote  #2

1711702064
Report to moderator
1711702064
Hero Member
*
Offline Offline

Posts: 1711702064

View Profile Personal Message (Offline)

Ignore
1711702064
Reply with quote  #2

1711702064
Report to moderator
Phinnaeus Gage
Legendary
*
Offline Offline

Activity: 1918
Merit: 1570


Bitcoin: An Idea Worth Spending


View Profile WWW
January 09, 2012, 06:04:35 AM
 #2

I was just on Twitter and searched #Bitcoin. The title of this thread was at the top of the list. I knew when I read it, who penned it.

~Bruno~
JeffK
Sr. Member
****
Offline Offline

Activity: 350
Merit: 250

I never hashed for this...


View Profile
January 09, 2012, 03:17:47 PM
 #3

Permanent serf underclass
FreeMoney
Legendary
*
Offline Offline

Activity: 1246
Merit: 1014


Strength in numbers


View Profile WWW
January 09, 2012, 06:27:05 PM
 #4

It would be similar to outlawing work in 2014.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Explodicle
Hero Member
*****
Offline Offline

Activity: 950
Merit: 1001


View Profile
January 09, 2012, 07:00:06 PM
 #5

1. Gradually increasing unemployment, and
2. gradually increasing warm fuzzy feeling among people who don't understand economics.
Nesetalis
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250



View Profile
January 09, 2012, 07:01:06 PM
 #6

1. Gradually increasing unemployment, and
2. gradually increasing warm fuzzy feeling among people who don't understand economics.
+1

ZOMG Moo!
RandyFolds
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
January 10, 2012, 11:48:57 PM
 #7

Oh Atlas, you will appreciate minimum wage when you can't get a real job due to that mean case of pompous-ass-syndrome.
SgtSpike
Legendary
*
Offline Offline

Activity: 1400
Merit: 1005



View Profile
January 10, 2012, 11:51:03 PM
 #8

1 BTC/hour?

Considering there are a few billion working-class people in the world, and only 21 million BTC to potentially pay them with...

I'd say there's bound to be some riots when companies can't cut their employees paychecks at the end of the month!
tiberiandusk
Hero Member
*****
Offline Offline

Activity: 575
Merit: 500


The North Remembers


View Profile WWW
January 11, 2012, 10:50:08 PM
 #9

We would run out of whole bitcoins very quickly. There are way more than 21 million man hours put in per day.

Bitcoin Auction House http://www.BitBid.net BTC - 1EwfBVC6BwA6YeqcYZmm3htwykK3MStW6N | LTC - LdBpJJHj4WSAsUqaTbwyJQFiG1tVjo4Uys Don't get Goxed.
Sovereign
Member
**
Offline Offline

Activity: 80
Merit: 10



View Profile
January 12, 2012, 07:09:20 AM
 #10

You would only prevent people who can produce less than 1 Bitcoin per hour from work.

12uB1LSPrAqeEefLJTDfd6rKsu3KjiFBpa
The Script
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250


View Profile
January 12, 2012, 08:56:28 AM
 #11

Oh Atlas, you will appreciate minimum wage when you can't get a real job due to that mean case of pompous-ass-syndrome.

Do you deny that minimum wage causes unemployment?
film2240
Legendary
*
Offline Offline

Activity: 1022
Merit: 1000


Freelance videographer


View Profile WWW
January 14, 2012, 08:00:44 PM
 #12

I'd welcome it if I was hired/paid in BTC for a job (That's just because I grew up in a country where minimum wage laws are generally used often,like in UK).Expect running costs to go up for businesses.

[This signature is available for rent.BTC/ETH/LTC or £50 equivalent a month]
[This signature is available for rent.BTC/ETH/LTC or £50 equivalent a month]
[This signature is available for rent.BTC/ETH/LTC or £50 equivalent a month]
brunoshady
Sr. Member
****
Offline Offline

Activity: 262
Merit: 250

Dubs Get


View Profile
January 27, 2012, 07:42:07 PM
 #13

don't worry, there will be a solution to this

😆
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!