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“Bitcoin encourages saving, and by implication less consumerism. so i think that’s a yes! if you think long-term thinking, long-time preference leads to a higher value, better satisfaction metric society. fill your soul with sats instead of consumerist stuff that ends in landfills”

Bitcoin encourages saving, and by implication less consumerism. so i think that’s a yes! if you think long-term thinking, long-time preference leads to a higher value, better satisfaction metric society. fill your soul with sats instead of consumerist stuff that ends in landfills”



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25 Comments

  1. This x 1000.

    The critique that capitalism causes consumerism and over-consumption is always made by people who don’t understand time preference. Capitalism, when the money is debt-based central bank monopoly money driven by artificially low interest rates, encourages consumerism and over-consumption. Capitalism with hard money and real interest rates encourages savings and long-term investment.

  2. This sub has really gone to shit these last years. I remember when it was a place in which meaningful discussion about Bitcoin’s tech took place, and not just stupid rocket emojis and ignoring every problem with Bitcoin.

  3. That’s unrealistic, and non sequitur. Low consumerism means economies slow, reduced profits, increased unemployment, which means people won’t have money to buy sats. The answer is to reduce waste by making industry more efficient, and making profit partly dependent on that goal.

  4. It would be a nice study to see the energy used in Bitcoin mining versus the energy not spent as a result of less consumption from holding/saving your Bitcoin. And that’s just energy, ignoring less materials being consumed, less pollution, etc.

  5. Bitcoin is conservation.

    Petrodollar fuels hyper-consumption. Fiat fuels corrupt hierarchies around the world.

    Bitcoin isn’t consumption, it isn’t hierarchal status … it is pure brain energy. Zen.

    Bitcoin is conservation.

  6. unfortunately, it also disincentivizes investment. And disincentivizing consumption isn’t always a good thing, with a variety of negative implications for things like jobs and the economy as a whole to the velocity of money (as i understand it).

    That’s actually the reason aliens created bitcoin in the first place.

  7. I agree that it’s great people are saving. But the rest? Come on guys. You aren’t saving sats to not use them ever. You aren’t saving them to buy the filling of your soul. You are doing it so that you can be consumers. What is the act of eating food? Consumption. You will use sats to buy hookers, blow, muscle cars, boats, all sorts of shit that has whatever value the price tag denotes.

    P.S. I fucking love Bitcoin too and I feel the reverence.

  8. Yep. But I recognize that there is valuable information/some type of ”kinetic energy” inherent in the distribution of money that may hold value (entropy argument). although it is difficult to quantify

    Naive intuition is that money has some tendency to go to productive entitities

  9. I think you wrote that for @TurdBossSamonte and I thank you for doing so. She has a spending habit. Almost always unnecessary items. I think that the BITCOIN bug does exactly that. You buy only what you need, because you know that any wasted money could have been more Bitcoin.

  10. I agree. And Staking much more! Encourage saving because if you withdraw your criptos after you need to wait again for the mature period in some cases (ADA 20 days, XTZ 35 days for example)
    So, you see as your value growth day by day doing staking.

What do you think?

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