I was thinking this morning about how we leave LED lights on all the time and don't even care, yet our grandparents would walk around turning off the lights whenever they left a room, and it got me thinking about the real #debasement adjusted electricity cost of 1960 vs today.
In 1960 an oz of #gold was $35, and a kwh of #electricity was 2.6 cents. So you could buy 1346 kwh for an oz of gold, which you could earn with 12.7 hours of labor at the #medianwage of $2.75/hr. This also meant you could buy 105.8 kwh of electricity with an hour of your time. A #lightbulb would use 60 watts, so would use a kwh every 16.5 hours.
Today an oz of gold is about $2600, which you can earn in 76.74 hours at today's median wage of $33.88, and the cost per kwh of electricity has "gone up" to about 16.5 cents meaning you could buy 15,757 kwhs with an oz of Gold, and you can buy 205.33 kwh with an hour of your time.
Relative to gold electricity has dropped in price 91.5%. But #wages have dropped in value relative to gold by 83.45%. So relative to hourly wages, the meaningful metric to people, electricity has reduced in price by only about 1/2.
However, in addition to the price of electricity falling substantially, the #electronics we use are also much more efficient. Today an LED light bulb will use only 10 watts, 6 times less than in 1960, and gives you 100 hours of light for only 1 kwh. 6 times more light for half the price, or 12 times more light for the same price! A 91.7% reduction in cost for lighting our homes relative to our labor hours.
On the median hourly wage today you can get over 20,000 hours of light from a single lightbulb for 1 hour of labor. In 1960 you could only get just over 1700 hours of light. Not to mention the cost to replace the light bulbs going down as well, due to their longer durability. This is a substantial improvement by almost any metric.
But what if wages had stayed the same relative to Gold because the world lived on a sound monetary standard the entire time?
If in 1960 an oz of gold could buy you 1346 kwh which would give you 16.5 hours of light each, that works out to 22,209 hours of light per oz of Gold. Since it would take you 12.7 hours to earn that oz of gold, 1 hour of median labor would get you 1748.74 hours of light.
Fast forward to today, cheaper electricity + more efficient electronics, an oz of gold will give you 15,757 kwhs of electricity which can power an LED bulb for 100 hours each. So an oz of gold now gives us 1,575,700 hours of light vs 22,209 hours in 1960. This means if wages had stayed the same relative to Gold then you would get 124,070.9 hours of light from an hour of your labor, instead of the 20,000 hours you can actually get today. All vs the 1748.74 hours of light you could get for the same hour of labor 64 years ago.
124,070.9 / 1748.74 = 70.94
71 times more light for the same amount of gold, thanks to efficiency gains in our light bulbs and improvements to our electricity generating capacity bringing the cost of energy down. The world is getting incredibly cheaper all around us all the time, we just don't see it thanks to the FIAT system. Due to this FIAT debasement, 83% of the efficiency/technological gains has been taken from us all. This is the real theft.
Monetary Inflation is theft, the growth rate of the M2 is the true inflation rate, not the CPI. Inflation doesn't just rob us of our past earnings in the form of our savings, it reduces our future earnings too by debasing our wages.
₿ clears the fog of debasement we've been living under, truly revealing the world of abundance we live in TODAY. If we embrace its simplicity as the best savings instrument ever discovered and/or created by humanity, then we will all truly prosper having freed ourselves from the yoke of bondage that is the centrally controlled FIAT currencies of the world.
You really don't need to work so much. Have a new perspective, lower your time preference, live as frugally as possible within your means and do whatever you can to save as much of your money in BTC and you will be free of the drudgery much more quickly. Buy second hand whenever possible, learn how to cook at home and buy tools that assist you in that endeavor such as a quality blender / slow cooker / pressure cooker / rice cooker / bread maker etc. When you're free, you'll be able to use your time for more useful and important endeavors such as thinking / writing / inventing / volunteering and so on, and also have more time to spend with your family and friends.
Contrary to what many today feel, life is worth living and it can be much more meaningful. The future is bright and full of hope, you just have to leave the cave to see it.
BTCMeansFreedom4All /
npub1kl…fq497
2024-08-14 14:55:08
Author Public Key
npub1kl8aguhljq6yrmrv64dm2phew3pprfhx3ef9yh2zg3gkn0dq8adqzfq497Published at
2024-08-14 14:55:08Event JSON
{
"id": "ef3acc64d646e19b9ea5bcf500b35be197d7b2170c54e03f71283fb7b4db20ae",
"pubkey": "b7cfd472ff903441ec6cd55bb506f9744211a6e68e52525d42445169bda03f5a",
"created_at": 1723640108,
"kind": 1,
"tags": [
[
"t",
"debasement"
],
[
"t",
"gold"
],
[
"t",
"electricity"
],
[
"t",
"medianwage"
],
[
"t",
"lightbulb"
],
[
"t",
"wages"
],
[
"t",
"electronics"
]
],
"content": "I was thinking this morning about how we leave LED lights on all the time and don't even care, yet our grandparents would walk around turning off the lights whenever they left a room, and it got me thinking about the real #debasement adjusted electricity cost of 1960 vs today.\n\nIn 1960 an oz of #gold was $35, and a kwh of #electricity was 2.6 cents. So you could buy 1346 kwh for an oz of gold, which you could earn with 12.7 hours of labor at the #medianwage of $2.75/hr. This also meant you could buy 105.8 kwh of electricity with an hour of your time. A #lightbulb would use 60 watts, so would use a kwh every 16.5 hours.\n\nToday an oz of gold is about $2600, which you can earn in 76.74 hours at today's median wage of $33.88, and the cost per kwh of electricity has \"gone up\" to about 16.5 cents meaning you could buy 15,757 kwhs with an oz of Gold, and you can buy 205.33 kwh with an hour of your time. \n\nRelative to gold electricity has dropped in price 91.5%. But #wages have dropped in value relative to gold by 83.45%. So relative to hourly wages, the meaningful metric to people, electricity has reduced in price by only about 1/2. \n\nHowever, in addition to the price of electricity falling substantially, the #electronics we use are also much more efficient. Today an LED light bulb will use only 10 watts, 6 times less than in 1960, and gives you 100 hours of light for only 1 kwh. 6 times more light for half the price, or 12 times more light for the same price! A 91.7% reduction in cost for lighting our homes relative to our labor hours.\n\nOn the median hourly wage today you can get over 20,000 hours of light from a single lightbulb for 1 hour of labor. In 1960 you could only get just over 1700 hours of light. Not to mention the cost to replace the light bulbs going down as well, due to their longer durability. This is a substantial improvement by almost any metric.\n\nBut what if wages had stayed the same relative to Gold because the world lived on a sound monetary standard the entire time?\n\nIf in 1960 an oz of gold could buy you 1346 kwh which would give you 16.5 hours of light each, that works out to 22,209 hours of light per oz of Gold. Since it would take you 12.7 hours to earn that oz of gold, 1 hour of median labor would get you 1748.74 hours of light.\n\nFast forward to today, cheaper electricity + more efficient electronics, an oz of gold will give you 15,757 kwhs of electricity which can power an LED bulb for 100 hours each. So an oz of gold now gives us 1,575,700 hours of light vs 22,209 hours in 1960. This means if wages had stayed the same relative to Gold then you would get 124,070.9 hours of light from an hour of your labor, instead of the 20,000 hours you can actually get today. All vs the 1748.74 hours of light you could get for the same hour of labor 64 years ago.\n\n124,070.9 / 1748.74 = 70.94\n\n71 times more light for the same amount of gold, thanks to efficiency gains in our light bulbs and improvements to our electricity generating capacity bringing the cost of energy down. The world is getting incredibly cheaper all around us all the time, we just don't see it thanks to the FIAT system. Due to this FIAT debasement, 83% of the efficiency/technological gains has been taken from us all. This is the real theft.\n\nMonetary Inflation is theft, the growth rate of the M2 is the true inflation rate, not the CPI. Inflation doesn't just rob us of our past earnings in the form of our savings, it reduces our future earnings too by debasing our wages.\n\n₿ clears the fog of debasement we've been living under, truly revealing the world of abundance we live in TODAY. If we embrace its simplicity as the best savings instrument ever discovered and/or created by humanity, then we will all truly prosper having freed ourselves from the yoke of bondage that is the centrally controlled FIAT currencies of the world.\n\nYou really don't need to work so much. Have a new perspective, lower your time preference, live as frugally as possible within your means and do whatever you can to save as much of your money in BTC and you will be free of the drudgery much more quickly. Buy second hand whenever possible, learn how to cook at home and buy tools that assist you in that endeavor such as a quality blender / slow cooker / pressure cooker / rice cooker / bread maker etc. When you're free, you'll be able to use your time for more useful and important endeavors such as thinking / writing / inventing / volunteering and so on, and also have more time to spend with your family and friends.\n\nContrary to what many today feel, life is worth living and it can be much more meaningful. The future is bright and full of hope, you just have to leave the cave to see it.",
"sig": "4480be6f18d53ea2ae019c72ba8cff886656ca003d733ddc69bf815f9e334dd732f77279be5fef571987452f72f3d4937b484971fc1aa222e66d667f0e344dc9"
}