Replying to Avatar HoloKat

Genetically? I don’t see how…

Everything you said to be false here was true for me. My time preference changed significantly after bitcoin. I grew up poor and had a survive day to day mentality. It wasn’t until I didn’t have to struggle financially that I was able to learn about investing, and thinking long term. Bitcoin then amplified that type of thinking.

Imo time preferences are learned, and depend a lot on your state of mind. When you don’t have the resources you can’t be bothered to think long term. But as your needs are met and you learn more, it’s easier to plan ahead.
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roya ୨୧ 2y ago

This is the truth. Maslow didn’t make that hierarchy of needs for nothing.

When you’re focus is on “can I make rent this month, or buy food” it’s hard to think of anything else.

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Mike Brock 2y ago

And if any of us returned to that state, by environmental favors or turn of fortune, the luxury of saving for the future would evaporate. At a certain lack of income, regardless of whether your money is deflationary, stable or inflationary, is going to demand high time preference behavior as a necessity of subsistence.