True Bitcoiners must have a βπ₯π¨π° ππ’π¦π π©π«ππππ«ππ§ππβ
What does this mean?
Do you have it?
π»πΎπ π πΈπΌπ΄ πΏπ π΄π΅π΄π π΄π½π²π΄ means someone focuses more on their well-being in the future, rather than the present.
Low time preference activities include: saving or investing money, exercising, eating high quality food, getting adequate sleep, producing quality, original artwork or craft work, etc.
A βtomorrow personβ.
π·πΈπΆπ· π πΈπΌπ΄ πΏπ π΄π΅π΄π π΄π½π²π΄ people are more present-oriented and value consuming sooner. They prefer instant gratification and are less likely to save and invest.
High time preference activities include: buying things on credit, eating fast food, heavy consumption of media, tv, and social media, etc.
A βtoday personβ.
In βThe Bitcoin Standardβ, @saifedean discusses time preference. Sound money, which Bitcoin is designed to be, can hold its value over time, which can lower people's time preference and encourage them to save and defer consumption.
Bitcoiners famous saying, βHODLβ, is about delayed gratification. Hodling involves ignoring the drama of price charts, and setting your mind years into the future, trusting in Bitcoin's sound money characteristics and the potential benefits that might bring.
Soβ¦ do YOU have a π₯π¨π° ππ’π¦π π©π«ππππ«ππ§ππ?
