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10 sats \ 0 replies \ @gnilma 17 May 2023 \ on: Bitcoiners: Check Your Privilege, I Mean Time Preference bitcoin
Adoption of a new money takes a very long time, usually spanning generations. Saying "we are still early" is an understatement to how truly early at the adoption stage we are currently sitting. Your post reminded me of Svetski's article The Three Generations Theory. I recommend anyone to give it a read if they had not already done so.
Most of us grew up under the fiat standard, with high time preference behavior and wanting instant gratification ingrained in our hearts and minds. Some realize the flaw through bitcoin or family or other means, but it is difficult to change a bad habit, especially a habit one had been practicing their whole life. As such, it is normal to see bitcoin adopters exhibit these high time preference behavior. I think these people just haven't got rid of their bad habits. If they were to continue to spend time and work learning about bitcoin, surely, the bad habits will eventually shed.
I strongly believe bitcoin mass adoption will come, hopefully in my lifetime, but I wouldn't mind it happening after I die. All I really want is for my children to live better lives than I did, and my grandchildren to live better lives than my children. If bitcoin continues to exist throughout the years into the future, I think I have a decent chance of getting what I want.