Bitcoin is the Stanford Marshmallow Test for adults and societies. wikipedia.org/wiki/Stanford_marshmallow_experiment
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Bitcoin is the Stanford Marshmallow Test for adults and societies. wikipedia.org/wiki/Stanford_marshmallow_experiment
epeakin
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Couldn’t you say the same about any other investment?
https://en.wikipedia.org/wiki/Stanford_marshmallow_experiment
>The Stanford marshmallow experiment was a study on delayed gratification in 1972 led by psychologist Walter Mischel, a professor at Stanford University.[1] In this study, a child was offered a choice between one small but immediate reward, or two small rewards if they waited for a period of time. During this time, the researcher left the room for about 15 minutes and then returned. The reward was either a marshmallow or pretzel stick, depending on the child’s preference. In follow-up studies, the researchers found that children who were able to wait longer for the preferred rewards tended to have better life outcomes, as measured by SAT scores,[2] educational attainment,[3] body mass index (BMI),[4] and other life measures.[5] A replication attempt with a sample from a more diverse population, over 10 times larger than the original study, showed only half the effect of the original study. The replication suggested that economic background, rather than willpower, explained the other half.[6][7]
I was literary thinking this earlier today. Lol
But you have to admit that more marshmallows later is not 100% guaranteed in real life. Time preference of money. Just because most people err on the side of instant gratification doesn’t necessarily mean you shouldn’t err on the side of caution.
Investing is the transfer of wealth from the impatient to the patient.
In my view, granted that it is not shared by most of the research community, the marchmallow test is just as much about testing a childs ability to conform into societal norms. To both be able to figure out which behaviour that is appreciated AND have a will to conform to this.
So.. given the anti-authoritarian nature of bitcoin, maybe one can say that bitcoin is a marchmallow test which only tests for ability to delay gratifications, while the conforming stuff is out?
Interesting.