It’s crazy how much time preference matters in life.

I have a friend who has sworn off bitcoin forever because his wife “lost money on it”. After some probing, she actually got caught up in a scam where you send them bitcoin, they “invest” it for you, and then ask you to keep doubling down.

Apparently took out a home equity loan to continue, thought she was up hundreds of thousands, and then they finally realized what was happening. All because they wanted to get rich quick.

Instead of just being patient and holding, they’re now deep in the hole. Sad.