4min chapter

"Moment of Zen"  cover image

E10: Disenfranchised men, AI Doomerism, and the Problems with Effective Altruism, with Amjad Masad

"Moment of Zen"

CHAPTER

Bitcoin - What the Fuck Happened in 1971?

A lot of Bitcoiners are really a big fan of that solution to the question, what the fuck happened in 1971? We officially went off the gold standard. The idea behind it is something goes to something called the time preference. It's this Austrian economics concept where high time preference means you prefer gratification today and discount the future heavily. Low time preference, you actually discount the future way less. Having low time preference is good because you're investing more,. You're delaying gratification, you're investing actual money into businesses and you're building.

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