₿ainter on Nostr: Can we improve the concept of “Time Preference”? I heard about this concept in ...
Can we improve the concept of “Time Preference”?
I heard about this concept in @saifedean’s book “The #Bitcoin Standard” for the first time.
Low = Person who can wait for rewards.
High = Person who cannot wait for rewards.
Low/High refer to „Preference“, i.e. your preference for time in terms of the nearness of rewards on the timeline is low or high.
Slow/Fast refer to „Time“, i.e. you prefer slow or fast passage of time, implying you can or cannot wait for rewards.
Long/Short refer to „Time“, i.e. you prefer a long or short time horizon for rewards.
Also notice the direction in regards to scalar opposition by using „good“ and „bad“ (in terms of future rewards more likely):
low - high -> bad - good
slow - fast -> good - bad
long - short -> good - bad
Which adjectives describe the concept most intuitively?
Published at
2024-03-24 10:38:46Event JSON
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"content": "Can we improve the concept of “Time Preference”?\n\nI heard about this concept in @saifedean’s book “The #Bitcoin Standard” for the first time. \n\nLow = Person who can wait for rewards. \nHigh = Person who cannot wait for rewards. \n\nLow/High refer to „Preference“, i.e. your preference for time in terms of the nearness of rewards on the timeline is low or high. \n\nSlow/Fast refer to „Time“, i.e. you prefer slow or fast passage of time, implying you can or cannot wait for rewards.\n \nLong/Short refer to „Time“, i.e. you prefer a long or short time horizon for rewards. \n\nAlso notice the direction in regards to scalar opposition by using „good“ and „bad“ (in terms of future rewards more likely):\n\nlow - high -\u003e bad - good\nslow - fast -\u003e good - bad\nlong - short -\u003e good - bad\n\nWhich adjectives describe the concept most intuitively?",
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