Paul Puey on Time Preference

Mr Obnoxious - A podcast by Peter McCormack

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Location: Los Angeles
Date: Thursday, 26th September
Project: Edge
Role: CEO & Co-Founder

Time is arguably our most valuable resource and we are constantly making choices about how we use it. But do we give enough consideration to our time?

One of the theories behind our decision making is time preference. Time preference refers to the value of something now compared to its value at a later date.

Those who favour high time preference prefer to value their current self and spend money faster, while people with a low time preference will make sacrifices to ensure a better outcome for their future self.

It doesn't just relate to personal choices though; time preference is an excellent tool for considering money, specifically when comparing Bitcoin and fiat.

Inflationary fiat currencies favour a high time preference. With no supply cap and governments printing more money at will, there is little economic incentive to save. Bitcoin, however, favours a low time preference. Being sound money with a fixed supply, Bitcoin lends itself to saving.

While time preference finds its roots in economics, it can be applied to almost anything and is how you prioritise now vs future; from health to journalism, productivity to savings.

In this interview, I speak to Paul Puey, the CEO & Co-Founder at Edge who are building a self custody exchange and wallet. We discuss time preference, Bitcoin, health & diet, journalism and Libertarianism.

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Connect with Paul:
- On Twitter @paullinator
- On LinkedIn
- On Crunchbase

Connect with Edge
- On Twitter @edgewallet
- On LinkedIn
- On GitHub
- The Website

Mentioned in the interview:
- Dr. Bernstein's Diabetes Solution
- Born to Run by Christopher McDougall
- The Ketogenic diet
- The carnivore diet
- Food, Inc
- Lightning Network
- Andreas Antonopoulos - Fake News, Fake Money

Other relevant WBD podcasts:
- WBD158: Be Your Own Banker with Pascal Gauthier
- WBD153: Trace Mayer on Claiming Your Monetary Sovereignty with Bitcoin
- WBD151: Caitlin Long, Trace Mayer & Tyler Lindholm on Reducing the Size of Government
- WBD150: Erik Voorhees on Understanding Libertarianism
- WBD141 - Stephan Livera on Austrian Economics, Libertarianism and Bitcoin
- WBD130: Bitcoin is More Than a Financial System with Zac Prince & Jeremy Welch
- WBD127 - Saifedean Ammous on Understanding Bitcoin Economics
- WBD058: Trace Mayer on Why You Must Own Your Bitcoin Private Keys
- WBD042:Casa's Jeremy Welch and Alena Vranova on Crypto Custody

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