In this episode, Mike & TC explore the journey of transitioning to a Bitcoin standard, discussing the challenges of tracking Bitcoin progress, the implications of tax on spending, and the importance of sound money. They delve into the concept of time preference and how it affects economic behaviour, emphasising the significance of delayed gratification and investment in capital goods. The conversation also touches on the impact of inflation on daily life, the pressures of consumerism, and the lessons from the Marshmallow Experiment. Ultimately, they highlight the need for a sound monetary system to foster a civilised society and the potential of Bitcoin to reshape economic interactions.Mike: YouTube:⁠  @BitcoinStraightUp  Nostr: npub1yp4n0rw5sgf9sl4ta0wxfvq9pxc67sf0s3vmfp5l7r5uzleqqrhsyskqykTC: YouTube:⁠  @TheRoadToOneBTC   ⁠X: @TheRoadToOneBTCNostr: npub1ycvsxes7qfrmv897k8uqqfrwvj5efv0f282lxzacrdlglm8c2qrqm7jjgrTip 'The HODLing Room' with Mike & TC:Lightning: [email protected] on-chain: bc1qvk89xjd66frae52g0j70sr093dv4s4020pdf4u

Chapters

00:00 Introduction to Bitcoin Tracking and Progress

02:54 Understanding Money and Time Preference

06:06 Tax Implications of Bitcoin Spending

08:54 The Role of Sound Money in Society

11:57 The Doom Loop of Economic Systems

12:46 Chapter Five: Money and Time Preference

15:22 Personal Reflections on Inflation and Spending

18:34 Consumerism and Delayed Gratification

21:23 The Slight Edge and Consistent Habits

24:19 The Importance of Delayed Gratification

25:48 Investment and Capital Accumulation

27:40 The Role of Time Preference in Productivity

36:59 The Marshmallow Experiment and Time Preference

40:15 The Impact of Time Preference on Life Choices

42:09 Capital Accumulation and Civilization

44:26 The Disconnect in Modern Society

46:47 The Role of Money in Time Preference

48:02 The Effects of Monetary Systems on Society

52:02 Morality and Time Preference

59:24 The Role of Government in Economic Incentives