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Your environment, living conditions and external incentives affect your time preference, yes. Like, if you think an asset you're sitting on -- say bitcoin -- is going to be worth 100x in the near future, that is going to affect your time preference, yes. But what if it didn't? What if you didn't believe it was going to go up? Would you have equally lower time preference?

HoloKat 2y ago

My time preference for bitcoin does not rest on fiat valuation. I’d be lying if I said I didn’t feel more at peace knowing my grandkids or maybe their grandkids might be well off, but that’s not why I hodl. To me, a more fair and inclusive monetary system is more important.

Also, bitcoin alone didn’t lower my time preference, that was already changed when I stopped struggling and could think ahead for a rainy day - starting with savings and ultimately investing.

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Discussion

Mike Brock 2y ago

It is also just true that people's time preference drifts lower as we age and mature. Which is why I might push back on comparing ourselves to our younger selves as proof, here.

HoloKat 2y ago

Age probably also plays a role but doesn’t that also mean you just had more time to learn? Regardless of age, I think your immediate mentality has more impact on your time preference.