The profit your employer makes from your work isn't coming from an increase in demand [in the use of a transactional layer] causing the perceived value of a crypto-asset [USD] to go up, and therefore they also are profiting from that increased value -- that'd be "double-dipping" profit in a sense if that's the case, if they're also making money on the increase in demand of the currency.
Profit from what someone is willing to pay above actual cost vs. "profit" derived simply from an increase in perceived value because of demand are two different things; this is why I put profit in quotes to differentiate.
If you're paid in USD, USD being relatively stable and balanced with other fiat currencies, then you're not going to profit from fluctuations -- there are currency traders of course, however banks and governments try to limit this. It would be great to have a single global currency, where everyone is aligned, however
If you held onto your paycheck and didn't cash it for 5 years (assuming the check is still valid then), and the USD went up by 400% -- once you cashed it, that 300% difference in your buying power that you're depositing is getting covered by everyone else now (for no more work done by you). At the surface of it, does that sound fair? And that cash they were paid, it wasn't an investment.
If you're paid in USD, USD being relatively stable and balanced with other fiat currencies, then you're not going to profit from fluctuations -- there are currency traders of course, however banks and governments try to limit this, they decide how much the other currencies are worth in comparison (the exchange rates). It would be great to have a single global currency, where everyone is aligned, however not through reallocating wealth weighted to the earliest adopters -- you're taking advantage of the majority of society then.
The issue is whether reallocating resources/wealth unreasonably/unnecessarily is acceptable or not. I argue it's not. The incentivized structure is one way to get people working together, collaborating - at least to begin with - however at a certain "tipping point", let's say it's 50% -- everyone who adopts or must adopt the incentivized crypto-asset then is covering/realizing the cost of everyone who bought before. E.g. Their buying power is shifted weighted towards the earlier adopters, and if this is allowed then there will be a point where they will be forced to adopt it (and early bad actors are heavily incentivized to reach this goal).
One problem with incentivized crypto-assets is that USD isn't destroyed, instead it's being exchanged - given to someone in return for a digital crypto-asset. If USD was actually destroyed or rather transferred into a crypto-asset blockchain, that would be solving part of the problem.
If you see problems with what I'm writing, I would greatly appreciate hearing more of your thoughts - rarely do people engage with this line of thought on here, I seem to get enough downvotes though (to counter the upvotes I initially get).
