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40 sats \ 1 reply \ @tip_nz 17 Nov 2023 \ on: Low time-preference = Bitcoin bitcoin
Thanks for sharing @cryotosensei. I think with low time preference there's an element of discipline, sacrifice and work involved in the present in order to benefit from the fruits of your labour in the future. Having children, saving for the future, investing in our health, building meaningful relationships, taking care of our ecosystem are all low time preference activities.
Do you find that since having kids you also started to care more about the future that you might leave behind for them? My theory is as we age, we don't have much time left (or much of a future left) we may become more high time preference. We may make decisions to sacrifice less and enjoy ourselves more in the present. But those with children may still want to save a nest egg for their kids (low time preference) vs blowing it all to enjoy ourselves (high time preference).
Just thinking whether engaging in LTP activities also lead to other LTP activities and thinking in other areas.
I think to a certain extent, it does. Since I became a parent, I have become more intentional in the workplace because I hope that whatever things I do with my limited time and energy will bring about more impact in the mid-term
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