Replying to Avatar Max

Hodling bitcoin is not low time preference.

Only lending or investment expresses time preference; a hoard is liquidity for consumption. New post on what time preference actually is, why wealth causes lower time preference rather than the reverse, and how the term has been inverted in popular usage.

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u32Luke 2d ago

Hoarding is high time preference, no?

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Max 1d ago

Yes. Holding money is consumption of the interest you could have earned with investment.

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nathanael 1d ago

i read the post yesterday and i was a little bit confused after reading it. this answer is exactly what i needed to hear. now it understand it. thanks

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Max 1d ago

I should write in depth about that specifically, it's counter intuitive and deserves some more analysis.

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Zsubmariner 1d ago

Where does the extra money come from?

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Max 1d ago

From the people who would pay you in exchange of getting the consumption earlier.

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Zsubmariner 1d ago

And where do they get it from? Where does the extra money come from?

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Engineer 1d ago

Forgoing something is not consuming it.