Low Time Preference, Bitcoin And Personal Health
In this episode of “Meet The Taco Plebs,” Mind/Matter and I discussed the connections between the low time preference effect of bitcoin and health.
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Mind/Matter, a fantastic contributor here at the magazine, also has a rather popular Twitter account, which focuses more on health and lifestyle than exclusively bitcoin. I’m a big fan of the content he posts, and felt it would be interesting to address the intersection between these two subjects.
In this episode of “Meet The Taco Plebs,” we explored how he got into Bitcoin, and how that has impacted his life. Of course, the low time preference mechanics and incentives of bitcoin quickly appealed to his understanding of health excellence. As we explored, it became apparent that these two ideas are very much hand in hand — the preservation of one’s wealth and the preservation of one’s health. Be sure to listen to the whole podcast, and to read our short interview below.
What’s your Bitcoin rabbit hole story?
I came from the bodybuilding space, and when I realized that I was training the mind as much as the body. In the middle of 2017 around July, I had heard people talking about it. I read a book about it, and saw bitcoin go from around $600 to $2,800, and felt I had missed the boat. I bought again at the top, but didn’t really go down the rabbit hole until late 2019.
How has Bitcoin changed your life?
Bitcoin has lowered my time preference, and merged my low time preference for health with technology and money.
Your posts, username and Twitter feed are designed to encourage people to master their health and mind. How do you see Bitcoin working into this lifestyle mastery?
Bitcoin has the same incentives that lower time preference and force us to think about how we take care of ourselves. As I evolved through the self improvement space, I found that I was also training my mind as I trained my body. Part of learning about Bitcoin and the history of money is another part of training your mind in order to improve your life.
What are you most looking forward to in the Bitcoin space, or in life in general?
I am excited to see the infrastructure for hyperbitcoinization be built — truly, the bear markets are when the building happens. The broader ecosystem will continue to build even after any bull run — and then we could potentially see a circular economy.
Price prediction for the end of 2021, and the end of 2030?
I have a theory that the cycle is extended — that we may go into 2022. I see it going somewhere around $350,000 to $400,000. For 2030, we may see something like $5 million to $10 million in terms of 2019 purchasing power.
