From it being a slave mindset used by masters to exploit you
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Replying to @arthur_affect @capoczino and
Why is low time preference a slave mindset used by masters for exploitation? (Remark: That's not a rhetorical question, because perhaps I don't know the meaning of "time preference".)
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Replying to @Snark150 @capoczino and
"Low time preference" is economist jargon for the attitude better known by laypeople as "Just hold on, the check's in the mail"
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Replying to @arthur_affect @capoczino and
1/2 Thank you. That helped me to search more: "Generally, a high time preference is associated with a low will to renounce to the present gratification in order to obtain a benefit in the future. ...
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Replying to @Snark150 @arthur_affect and
2/2 ... On the contrary, consumers with low time preference are more willing to undertake short-term costs to get future improvements." (Source: http://centmapress.ilb.uni-bonn.de/ojs/index.php/proceedings/article/view/1323 …)
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Replying to @Snark150 @arthur_affect and
So, as a layperson, I would associate (non-judgmentally) "impatience" with high time preference and "patience" with low time preference.
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Replying to @Snark150 @arthur_affect and
I have a "time preference" with time as an adjustable parameter which is determined e.g. by the response times of the processes which I am dealing with. There are processes which don't have the consciousness required to exploit and/or enslave anybody.
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Replying to @Snark150 @arthur_affect and
That is a very clear way to put it. The main takeaway is that most people start from good intentions, on both side of about almost any discussion even. Now the main principle that most people in Bitcoin adhere is the freedom to influence your personal 'circle of influence'
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Replying to @soulexporter @Snark150 and
It does not matter what others do. If you don't want to participate in that, that is a free choice. What does matter is the idea that improving your environment (in the small part that you have an influence) begins with yourself, and not others.
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Replying to @soulexporter @Snark150 and
The real low time preference, is the one that actually should resonate the most with those who think it (Bitcoin) is a scam. Because those who truly believe it not to be a scam will put their own fiat into the economy (indirectly paying electricity) and NOT take it out again.
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Dude, "low time preference" is just your jargony way of saying the same thing every cult does "Hold fast, the day is coming", etc etc The cult can't make anything good happen for you now, demanding proof now demonstrates your faithlessness, you must wait and see
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Replying to @arthur_affect @Snark150 and
What day exactly must "be coming" ? Low time preference is nothing more than thinking before you buy something: "Do I really need this?" It is not fixed to buying Bitcoin, or gold, or even just saving up money to buy something with your own money instead of borrowing.
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Replying to @soulexporter @arthur_affect and
The day when Bitcoin is useful. Funny enough, because you can no longer use it to reliably buy drugs Bitcoin has less actual purchasing power in March 2021 than it did in March 2011.
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