The uncomfortable reality is that time preference is inexorably linked to resource availability. The more resource-poor the individual, the more inclined that individual is to have high time preference. How does #bitcoin adoption overcome this headwind? Does it?
Discussion
would love this rewritten for normal people who arent in your social scene
wont is one thing
if you cant, very gently, you probably dont even know what you are saying
What I'm saying is that appreciating bitcoin requires thinking far into the future. People with few resources can't afford to think far into the future because they have to worry about the present.
But these are the people most in need of bitcoin. How does bitcoin overcome this challenge? Is that even possible?
Rich people can AFFORD to worry about many years down the line. Poor people cant.
The people who have very little can often afford to make the greatest changes without risking much. For example, I stopped paying school loans & dropped health insurance in order to stack bitcoin because I had the necessary knowledge of money & basically had nothing to lose.
Making the world a more stable & prosperous place that no longer financially incentivizes divorce & broken homes via fiat stress & govt subsidies will also create a more natural & robust social safety net where more people have family & community to fall back on.
By eliminating rising prices Bitcoin helps the poor most of all & dramatically lowers the barrier to upward mobility.