kepford on Nostr: Time preference - Mises Wiki https://wiki.mises.org/wiki/Time_preference Thought I'd ...
Time preference - Mises Wiki
https://wiki.mises.org/wiki/Time_preference
Thought I'd share this wiki post on the concept of _time preference_. This was prompted by a [comment](https://stacker.news/items/498633/r/kepford?commentId=498779) from @gmd.
> why are we always so quick to label stuff we disagree with or dislike as "fiat"
I do think this is a valid point. I do think it is easy to just take the shortcut and blame fiat for everything. Many of us in the bitcoin world however first learned about many of the concepts that inspired bitcoin's design before we discovered bitcoin. I'm one of them. Time preference is one of the ideas that I first learned about many years ago before I was into bitcoin. Bitcoiners throw this term around and I believe many have no clue about its origins and have a rather simple view of what it means.
Examples of this are thinking high time preference is always bad. Time preference is amoral. It just is. Bitcoiners can be high time preference. Fiat maximalists can be low time preference in some of their actions. The point is that things like currency, money supply, and centralized management of economics create incentives that affect time preference. This wiki is a good overview of the concept of time preference.
https://wiki.mises.org/wiki/Time_preference
Thought I'd share this wiki post on the concept of _time preference_. This was prompted by a [comment](https://stacker.news/items/498633/r/kepford?commentId=498779) from @gmd.
> why are we always so quick to label stuff we disagree with or dislike as "fiat"
I do think this is a valid point. I do think it is easy to just take the shortcut and blame fiat for everything. Many of us in the bitcoin world however first learned about many of the concepts that inspired bitcoin's design before we discovered bitcoin. I'm one of them. Time preference is one of the ideas that I first learned about many years ago before I was into bitcoin. Bitcoiners throw this term around and I believe many have no clue about its origins and have a rather simple view of what it means.
Examples of this are thinking high time preference is always bad. Time preference is amoral. It just is. Bitcoiners can be high time preference. Fiat maximalists can be low time preference in some of their actions. The point is that things like currency, money supply, and centralized management of economics create incentives that affect time preference. This wiki is a good overview of the concept of time preference.