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2024-08-26 03:55:52

parachutesBTC on Nostr: π“πˆπŒπ„ 𝐏𝐑𝐄𝐅𝐄𝐑𝐄𝐍𝐂𝐄 True Bitcoiners must have a ...

π“πˆπŒπ„ 𝐏𝐑𝐄𝐅𝐄𝐑𝐄𝐍𝐂𝐄

True Bitcoiners must have a β€œπ₯𝐨𝐰 𝐭𝐒𝐦𝐞 π©π«πžπŸπžπ«πžπ§πœπžβ€

What does this mean?
Do you have it?

πŸ„»πŸ„ΎπŸ…† πŸ…ƒπŸ„ΈπŸ„ΌπŸ„΄ πŸ„ΏπŸ…πŸ„΄πŸ„΅πŸ„΄πŸ…πŸ„΄πŸ„½πŸ„²πŸ„΄ 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 β€œtomorrow person”.

πŸ„·πŸ„ΈπŸ„ΆπŸ„· πŸ…ƒπŸ„ΈπŸ„ΌπŸ„΄ πŸ„ΏπŸ…πŸ„΄πŸ„΅πŸ„΄πŸ…πŸ„΄πŸ„½πŸ„²πŸ„΄ 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 β€œtoday person”.

In β€œThe Bitcoin Standard”, @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, β€œHODL”, 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.

So… do YOU have a π₯𝐨𝐰 𝐭𝐒𝐦𝐞 𝐩𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞?
Author Public Key
npub1n9mrw329z0327a7y3cupvtkggvdj0cvgvu444pcjhglgtc82u8xsm06jup