Whereas short term thinking dictates the course of our monetary and fiscal policy, Bitcoin forces participants to have low time preference and make longer term decisions. As the network grows in prominence and individuals opt for a “Bitcoin Standard”, it may put pressure on Central Banks to act more responsibly.
Fantastic article about the time when everybody wants “more more more”.
When everything is overblown and excessive, Bitcoin remains calm, collected and measured.
Whilst everything is being flooded, Bitcoin is becoming more scarce.
Whilst everywhere we turn, we hear more, more, more, now, now now — oblivious to the cost, or quantity of the “more” — Bitcoin is about growth for a purpose, and over a long period of time, arriving to a point of natural equilibrium & stability.
Rollo McFoogle is talking about low-time-preference, instant gratification, and pirates!
Bitcoin is a fix against this.
Read his article here: