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Low Entropy (Time) Preference

We cannot escape the Second Law of Thermodynamics in this life or any other.

Building "order" out of disorganized entities requires low entropy energy. Some of that LE energy is released as high entropy energy such as heat in the process. This is the way Life works: Life decreases local entropy by creating order (say, growing a living cell) at the cost of creating high entropy "waste" (chemical and heat) at the same time.

Bitcoin mining uses low entropy energy to order transactions while generating high entropy "waste" (heat). Consolidating UTXOs require the same treatment: it costs quite a bit in fees to rebuild a single UTXO out of many.

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Discussion

CB 1y ago

poorbitcoiner 1y ago

Hold my⚡️

Kevin's Bacon 1y ago

This is a super cool thought. I should consider it in my dissection of information as regards property rights. Fascinating.

Kevin's Bacon 1y ago

I don't believe in the second law of thermodynamic on account of the subjective nature of usefulness, and the emergent systems that our universe forms. But this is a compelling inspection of certain uses of information to draw clear and distinct boundaries by way of normal everyday transformations in a distributed fashion, via markets or physical expenditure.

Kevin's Bacon 1y ago

Lowering of time preference can also be described as the lowering of entropy required to satisfy man's ends.

Entropy itself, if the information sufficient to control it is encapsulated privately at an actor's command, represents the homesteading of some part of nature, from which no actor or unit of capital or consumption good is necessarily distinct.

Kevin's Bacon 1y ago

This represents man's tendency to follow the principle of least action, or effortless action, or unforced action, which incidentally is a core tenet of many low time preference philosophies and religions, such as the philosophies of Jesus of Nazareth and of Lao Tzu.

Kevin's Bacon 1y ago

Not to mention this limit mirrors the core principle of least action/optimum action unifying multiple fields in physics.

There may even be a direct relationship between Pareto optimality and dS=0 and therefore with F=ma.

Kevin's Bacon 1y ago

I wish I had the time and expertise to pursue this further at this moment, but I am afraid the whole of my intellectual capacity over the next hour is already promised to the mundane and grating tasks of mere chores and physical upkeep.