The concept of time preference Time preference is the ratio of the value an individual places on their present self compared to their future self. Valuing the present results in a higher time preference while valuing the future lowers your time preference. Our society today has high time preference because our current monetary system only continues to debase our currency over time which incentivizes us to spend rather than save. Because who in their right mind would actually want to hold on to something thats only becoming worthless over time. This is very similar to holding ice cubes in your hand and just watching it melt away. A society that posses a low time preference has hard sound money that doesn’t lose its value over time which will incentivize its people to save in their currency. People will not only save but they’ll also want to build and create high quality products or services to gain more of this currency. A low time preference society will foster high level competition and that is when true innovation and productivity will happen. Satoshi Nakamoto created a way for our society to lower its time preference and that is through bitcoin. His creation is not controlled by any single entity. Therefore, it is resistant to manipulation and is immutable. There are many pros to this creation but that fact alone makes bitcoin extremely valuable. With that said, there will only ever be 21 million. It might make sense to get some before it catches on. #btc #nostr