A crypto analyst and enthusiast, Jimmy Song elaborates over his statements that what is the real difference between the high time preference folks and the people who take the high road with this and opt for the time as their secondary priority in case of dealing with cryptos. Song explains the contrasting features of both sort of people defining them as the ones who place time in their priority list in a definite order. Six contrasting features to be exact, Song was clear over the fact that it is the low time priority folks who can take the road towards eventual prosperity harvesting the long term benefits rather than sticking to reaping what the current lesser benefit yields out. BlockPublished made a successful attempt to extract the essence of Song’s statements summarising the entire discourse into one, single quote.
The low time preference people do what they love, live in peace, have a better self-control and strive to lead a better life both financially and physically while the high time preference people stick to retaining to lesser benefits, opt their choices swiftly often landing them in serious crypto situations. It is the low time preference people who are more into cryptos; the high time ones cherish the fiats for what they are.
Jimmy Song clearly explained that the low time preference people are the ones who truly grasp over the crypto concept as they are more inclined to accept the things that yield the results after a prolonged period of time. This can be taken into account as these are the people who have been around with the cryptos since day one, and have the will to continue supporting cryptos through thick and thin and no matter what.
As Satoshi dawned in upon us and coined the term cryptocurrency, there have been quite some personalities who have stayed loyal with the cryptos, not specifically to single one but rather the entire concept of digital assets as a whole being defiant of the current systems acting eventually as the pivotal fiat supplant.
To collect one’s own self and be able to pick what’s the best for days to come, comes in handy for the low time preference people as per Song as it carves a trait in them that keeps them pushing the try hard button without quitting. The hight time preference people not only conduct with haste but are relatively lessers successful in dealing the financial matters.