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Bitcoiners glorify having a Low Time Preference (LTP). They are proud of how few chairs they own, and are always looking for ways to save a sat while planning decades ahead.
This seems to be in reaction to living in a High Time Preference (HTP) society drowning in Fiat money.
HTP taken to its extreme, will make someone lose everything they own to save a second of time.
But conversely, LTP taken to its extreme, will make someone lose all their time chasing a sat.
In all things, moderation. This includes your preference with respect to time. Remember that your time is more scarce than sats. We tend to accumulate more sats as we spend down our time. Its always possible to earn more tomorrow, but once a second is spent, you can't get it back.
Maybe we should all take some time to regularly re-evaluate what our time is worth. And what pursuits in life are worth spending time on.
Great points, I agree. There are somethings like housing, education etc that can and should come in the MTP.
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In all things, moderation
What about moderation itself? Boom!
In any case, you're right about time preference. People with lower than average time preference tend to be more successful than people with higher than average time preference, but at the extremes people just starve to death.
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Isn't the chair selling thing over. I dont see much of that any more. Honestly stuff like that is more about being passionate and young. I always just chuckled at that. Never considered these people were very serious. Especially since it is online. The online world is mostly performative and fake.
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