If you found a way to save 5 hours per year, for the rest of your life, of your time spent doing a mindless task, for a one-time expense of $2,000... would you take it?
Discussion
no
I'm inclined to say yes
What would be the opportunity cost of not putting that 2k into bitcoin? I imagine a lot more than 5 hours per year.
My thoughts, exactly.
Save 5hrs per year for a flat fee of $2000?
No.
That's under a minute per day saved.
PER YEAR. Meaning $2000 once, then each year adds more value to the initial cost.
The $2000 once doesn't change it being under a minute per day.
Okay, then you add those minutes... Per yer and divide them by the payment...
I think I'd sooner address the minutes I'm already wasting and get that time back useful for free, rather than pay $2000. I get the theoretical reason why it makes sense. But unless you're going to make those minutes count, the money is more fungible.
It'd be like buying an expensive steak when you're not hungry. Sure, I might not quibble about that steak's price in the open market, but it isn't worth it to ME in those circumstances.
I know we like to talk about how time is one of the only things more scarce than bitcoin, but micromanaging every minute of your life comes at a stress cost, which, at some point, produces diminishing returns.
Opportunity cost…could those 5 hours be spent better? But also1,800,000 sats.
I’d calculate my opportunity cost based on avg life expectancy (based on age) and decide based on that. It’s just math.
Well, yeah. Duh.
Guessing the actuarial tables say I have about 40 years left. That's an estimated hourly cost of $10 in real terms. Alternatively, assuming I have to pay upfront and if I believed I could earn a wild 20% return per year over inflation on that $2,000 over 40 years, it's an hourly cost of about $147, which is more than I should pay given my financial standing but not crazy high.
My caveats would be that I'd have to have a reasonable belief that it actually would save the time, it'd have no significant downsides, and it'd not take away one of the mindless tasks I find relaxing and enjoyable.
What are you selling?
It also depends on how much fun will be gained from it. Do you hate these 5 hours a year?
Save me half a day of yearly recurrent bureaucratic bs with morons at public admin? Sure, I'm in!
Not enough information on the specifics of the time saved and the likelihood of that being a number that actually changes over the course of a life because it almost certainly will.
Too ambiguous to answer.
If that’s all the value we’re really talking about you don’t need to be so guarded with the idea. Not likely to ever be stolen if that questionable.
Mindless tasks allow your mind to wander. Which is when we become creative. So no.
This
Lay down your phone more often and save $2,000!
We bought this house 3 years ago. Took me 6 hours to vacuum a few days later. Bought this vacuum for about that much and it’s saved me… 1000s of hours of mindless work? 🤷‍♂️
I regret nothing