How has Bitcoin lowered your time preference? \ stacker news ~bitcoin

How has Bitcoin lowered your time preference?

564 sats \ 12 comments \ @kr 24 May 2023 bitcoin

I often hear Bitcoiners talk about having low time preference or delaying gratification by cutting back on their personal spending to buy more Bitcoin.

This is admirable in many cases, but I’d love to hear other ways in which Bitcoin has caused you to lower your time preference or defer gratification in other aspects of your life.

view all related items

528 sats \ 3 replies \ @DarthCoin 24 May 2023

moved out of big city is a big step and help a lot to lower your preference. I never regret it, but enjoy it.
earning in BTC helps a lot, to move away from the "fiat mentality" that always drag you down into the spiral of debt. STOP accepting fiat! Be prepared from now, do not wait for the CBDC to come. That moment you will be in really shit trouble.
paid all debt, no matter what and live a free debt life. Is possible (not sure for US people that are so brainwashed into using credit cards...) Never take another loan. Live with what you have, earn, save. You don't have it ? Wait until you have it or change the plans/project. Or do nothing. Life is NOT gonna end just for that.
live simple. You don't have to be a homeless guy, but also forget about luxurious shit. Just look what you've bought few years ago.. instead of BTC https://bitcoinorshit.com/ and think again when you need to change a new sofa or a car.
sell the car, buy a bike or walk, or bus. Don't be a pussy, is healthy and cheap.
don't buy a house / mortgage. Rent a normal cheap house, out of high areas. Or if you really want a property, then buy land with a small house and have also a garden and if is possible some animals, chickens etc.
create a bitcoin community around you like https://twentyone.world/ - https://www.youtube.com/watch?v=iOWvL9-4k4A
PATIENCE is key to everything. Why are you so impatient to sell your BTC? Wait until is not necessary anymore or make it happen.

21 sats \ 0 replies \ @kr OP 24 May 2023

agree with the point about biking… i recently got my first adult bike and am amazed at how far i can travel on it… in the city it’s almost as fast as driving too.

1 sat \ 1 reply \ @Atreus 24 May 2023

Thanks for introducing me to Bitcoinorshit just now. As the owner of a Playstation Vita, this one hurt 😞

https://i.gyazo.com/61efdf7e7c7db8a22b9c65f95f068133.png

0 sats \ 0 replies \ @Darkbulb 25 May 2023

Oof

267 sats \ 3 replies \ @orthwyrm 25 May 2023

I'm at that age where people start to "settle down" and buy a house, but knowing what I know about Bitcoin I cannot bring myself to liquidate some of my stash for the deposit. I'd rather hold more corn.

I'd be interested to know where other Bitcoiners fall on the rent vs. buy debacle. I suspect it tilts more towards rent. My own reasoning is that a) Lump-sum deposits on average will leave you with less BTC than the "DCA" of rent, b) Real estate is vastly overvalued due to its SoV quality which Bitcoin will eat into eventually and c) Holding a shitload of BTC offers you greater freedom than owning a house, as the latter can be seized by your government or devalued by ruining the surrounding neighbourhood.

100 sats \ 0 replies \ @pillar 25 May 2023

I think your points are right. But nevertheless, it's impossible to say if getting a mortgage is the right choice or not without having specific details on the mortgage conditions.

If you get a great offer with a dramatically low interest rate and perhaps it's fixed, it might make sense to go for it even though real state is a shitcoin.

This calls for a nice spreadsheet comparing both options.

100 sats \ 0 replies \ @kr OP 25 May 2023

i agree with all 3 of your points and i also arrived at the same decision to rent indefinitely.

0 sats \ 0 replies \ @Darkbulb 25 May 2023

If you have a family, buy a house. Its totally worth it

317 sats \ 1 reply \ @shyfire 24 May 2023

sold the tesla and bought a piece of shit
cut my own hair
shoes have holes
drink cheap whiskey

21 sats \ 0 replies \ @kr OP 24 May 2023

love it, i also started cutting my own hair during covid and haven’t looked back since… it’s definitely a money saver, but it’s also a big time saver.

209 sats \ 0 replies \ @VinoTinto 24 May 2023

Started to dive into bitcoin during the late autumn of 2019, April 2020 buddy of mine advised to buy bitcoin. I listened, kept working and forgot about it, started to listen again to people talking about it. Was quite moved by the ideology of the community, it made me re-analyse and question everything I was doing in life, this transcribed with me quitting my job to focus on my family and health and I haven't looked back.

175 sats \ 0 replies \ @LoveIsBitcoin 24 May 2023

Yes start talking, I wanna know as well.