High Time Preference: Instant gratification, Impatience, Short-term planning
Low Time Preference: Delayed gratification, Patience, Long-term planning
High-time preference leads to personal, societal and environmental destruction. When our money is losing value each day, we are 'forced' to be impatient and to spend it as quickly as possible, before it loses more value.
When our time is devalued by an ever-inflating fiat currency, we lose connection to the value of our time.
This leads to disconnection, and an undercurrent of stress.
Attempts to alleviate the stress, and find meaning, are distorted and become distractions such as over-consumption of drugs, alcohol, shopping, porn, fast food, short attention spans, addiction to screens/social media, impulsive decisions etc.
Sound money on the other hand, which holds its value over time and properly measures our contributions through our work, leads to a low-time preference, thoughtful quality of life, with meaningful relationships, less consumption, deeper connection, more profound conversation, long-term goals and increased creativity.
Bitcoin's fundamentals are crystal clear. As I delve deeper, I view it increasingly through a societal lens, learning from its impact and implications.
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