₿ainter on Nostr: Can we improve the concept of “Time Preference”? I heard about this concept in ...
Can we improve the concept of “Time Preference”?
I heard about this concept in @saifedean’s book “The #Bitcoin Standard” for the first time.
Low = Person who can wait for rewards.
High = Person who cannot wait for rewards.
Low/High refer to „Preference“, i.e. your preference for time in terms of the nearness of rewards on the timeline is low or high.
Slow/Fast refer to „Time“, i.e. you prefer slow or fast passage of time, implying you can or cannot wait for rewards.
Long/Short refer to „Time“, i.e. you prefer a long or short time horizon for rewards.
Also notice the direction in regards to scalar opposition by using „good“ and „bad“ (in terms of future rewards more likely):
low - high -> bad - good
slow - fast -> good - bad
long - short -> good - bad
Which adjectives describe the concept most intuitively?
I heard about this concept in @saifedean’s book “The #Bitcoin Standard” for the first time.
Low = Person who can wait for rewards.
High = Person who cannot wait for rewards.
Low/High refer to „Preference“, i.e. your preference for time in terms of the nearness of rewards on the timeline is low or high.
Slow/Fast refer to „Time“, i.e. you prefer slow or fast passage of time, implying you can or cannot wait for rewards.
Long/Short refer to „Time“, i.e. you prefer a long or short time horizon for rewards.
Also notice the direction in regards to scalar opposition by using „good“ and „bad“ (in terms of future rewards more likely):
low - high -> bad - good
slow - fast -> good - bad
long - short -> good - bad
Which adjectives describe the concept most intuitively?