162. Fiat Architecture with Michael Diamant
The Bitcoin Standard Podcast
The Importance of Time Preference
When money was gold, it was possible to maintain the value of your money. Money appreciated every year in real terms by about one or two percent. In a world like that, your alternative to building a house is maintaining the money in your pocket. Today, people build houses and you look at modern architecture,. You see that basically it has a shelf life of maybe 20, 30, 40 years. And so therefore, the house that you're going to spend it on doesn't have to also last 100 years.
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