{"id":463697,"date":"2022-06-16T11:00:36","date_gmt":"2022-06-16T08:00:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/buy-bitcoin-plant-a-tree-lower-your-time-preference-a-sequoia-story\/"},"modified":"2022-06-16T11:00:36","modified_gmt":"2022-06-16T08:00:36","slug":"buy-bitcoin-plant-a-tree-lower-your-time-preference-a-sequoia-story","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/buy-bitcoin-plant-a-tree-lower-your-time-preference-a-sequoia-story\/","title":{"rendered":"# &#8216;Buy Bitcoin, plant a tree, lower your time preference&#8217;: a Sequoia story"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36bf291e413\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36bf291e413\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/buy-bitcoin-plant-a-tree-lower-your-time-preference-a-sequoia-story\/#%E2%80%9D_%E2%80%98Buy_Bitcoin_plant_a_tree_lower_your_time_preference_a_Sequoia_story_%E2%80%9C\" >&#8221; &#8216;Buy Bitcoin, plant a tree, lower your time preference&#8217;: a Sequoia story  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_%E2%80%98Buy_Bitcoin_plant_a_tree_lower_your_time_preference_a_Sequoia_story_%E2%80%9C\"><\/span>&#8221; &#8216;Buy Bitcoin, plant a tree, lower your time preference&#8217;: a Sequoia story  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>When the market falls faster than a tree in the forest, the phrases \u201czoom out,\u201d and \u201clower your time preference,\u201d take root. <\/p>\n<p>\u201cZoom out\u201d refers to taking a break from the omnipresent price charts that populate <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> feeds and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> threads. Consider looking at the price of Bitcoin (BTC) over the past five years\u2013as opposed to over the past 6,12 or 18 months.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/be85bfcd-1212-4b73-8ccd-462e55f0327d.png\"><figcaption style=\"text-align: center;\">HODLing Bitcoin has far outperformed HODLing stocks over the past five years.\u00a0<\/figcaption><\/figure>\n<p>But what does \u201clower your time preference,\u201d\u2013popular parlance among Bitcoiners, actually mean? Commonly attributed to Saifedean Ammous, the polarizing author who penned <em>The Bitcoin Standard,\u00a0<\/em>lowering one\u2019s time preference translates to thinking long-term, and to valuing the future over the present. <\/p>\n<p>In contrast to a fiat standard, where money loses value due to inflation; a system in which quick gains, immediate satisfaction, and instant gratification make the medicine go down, a Bitcoin standard promotes delayed gratification. The theory is that in a Bitcoin Standard, the value of money saved in Bitcoin goes up over time to be enjoyed at a later stage. <\/p>\n<p>This lesson is a tough pill to swallow, (particularly during a crypto winter) but it&#8217;s a vital step to understanding Bitcoin. At least, that\u2019s what Fangorn, a passionate Bitcoiner turned tree-planter believes. A software developer and history major with a background in biology, he stumbled across Bitcoin on a Hacker News site in the summer of 2017 (when one BTC was worth around $3,000). <\/p>\n<p>Something twigged during 2017 and 2018, but it took the Covid-19 market crash of 2020 for Fangorn to really \u201cgo down the rabbit hole.\u201d He read more broadly, engaging with popular Bitcoin author Gigi\u2019s works, who wrote <em>21 lessons<\/em> as well as an article called <em>Bitcoin is Time. <\/em>At this point, a lightbulb went off:<em> <\/em><\/p>\n<blockquote><p>\u201cHoly shit, this [Bitcoin] is way more than just like digital gold. This is profoundly advanced engineering for civilization.\u201d<\/p><\/blockquote>\n<p>His <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etite for understanding sound money grew and he hasn\u2019t \u201clooked back since.\u201d He shared \u201cthe one thing to focus on is Bitcoin\u2013the rest is a bunch of fluff.\u201d <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/9de1541c-ae6c-46ef-a1cc-16c30f6d867d.jpeg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\">Sequoias are the largest trees in the world. What better way to visualize a low-time preference? Source: Twitter<\/figcaption><\/figure>\n<p>An outdoorsy family man with a penchant for planting trees\u2013he regularly gifts his father Sequoia trees for Father\u2019s Day\u2013Fangorn\u2019s ideas, much like the giant trees, began to germinate. He connected the dots between a low-time preference, Sequoia trees, and the Bitcoin network:<\/p>\n<blockquote><p>\u201cI can look at these trees when I\u2019m 100 years old and think, damn it\u2019s going to persist for another 3,000 years. And my grandkids\u2019, grandkids\u2019, grandkids\u2019 will think \u2018Thanks, great great grandpa for planting this tree thousands of years ago!\u201d<\/p><\/blockquote>\n<p>Like many Bitcoiners, Fangorn has faith that the Bitcoin network will sustain civilization as sound money for years to come. Moreover, Bitcoin and Sequoias are pretty similar, they take \u201ca lot of work, they stand the test of time, and they lift the human spirit.\u201d<\/p>\n<blockquote><p>\u201cHere\u2019s this thing that allows us to cast our minds forward for thousands of years, plan long term, and reconnect with that core aspect of civilization, which is lowering one&#8217;s time preference and planning for the future.\u201d<\/p><\/blockquote>\n<p>Indeed, while Bitcoin is a tool famed for its \u201cnumber go up\u201d properties, it\u2019s also a tool that allows for securing a long-term outlook.<\/p>\n<p>He shares that \u201cplanting trees is a super easy, super cost effective way of explaining\u201d what a low-time preference is. The tree is a visual representation of a low-time preference; the roots are the network. Moreover, planting trees flies in the face of the environmental FUD to which Bitcoin is often subjected. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I planted a sequoia from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/btcfangorn?ref_src=twsrc%5Etfw\">@btcfangorn<\/a> so my ancestors can harvest a 30 ft wide behemoth! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/0PKwvwhmqe\">pic.twitter.com\/0PKwvwhmqe<\/a><\/p>\n<p>\u2014 Sidd &#8211; #BitcoinTour Harley Rider (@CaptainSiddh) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CaptainSiddh\/status\/1536154541124505601?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Fangorn encourages Bitcoiners and no-coiners to plant trees to visualize a low-time preference. He shipped seeds to Andre Loja, the man behind the island of Madeira\u2019s Bitcoin strategy; he distributed seeds at the Bitcoin Miami conference in 2022\u00a0as well as at meetups in Winsconsin where he resides. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/9499cf7c-5488-410d-af00-fdc5329514ad.jpeg\"><figcaption style=\"text-align: center;\">The Sequoia seeds received by Andre Loja in Madeira. Souce: Loja<\/figcaption><\/figure>\n<p>He jokes that when Hal Finney (the first person to receive a Bitcoin transaction) comes round from his cryogenic freeze, \u201cIn 3,000 years, I want there to be 21 million trees that are fully grown and 30 feet in diameter\u2013trees that were planted in the first few epochs.\u201d<\/p>\n<p>Bitcoin will enter its fourth epoch sometime in 2024 and its last epoch\u2013when the last Bitcoin is mined\u2013in the year 2140. By 2140, the Sequoia seeds Fangorn and other Bitcoiners plant now will still be considered young trees: they reach full maturity after 500 years. <\/p>\n<p>For Fangorn, the Bitcoin mined today should still be in existence, maybe even used to pay for goods and services by his great-great-grandchildren. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/buy-bitcoin-plant-a-tree-lower-your-time-preference-a-sequoia-story\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; &#8216;Buy Bitcoin, plant a tree, lower your time preference&#8217;: a Sequoia story &#8220; When the market falls faster than a tree in the forest, the phrases \u201czoom out,\u201d and \u201clower your time preference,\u201d take root. \u201cZoom out\u201d refers to taking a break from the omnipresent price charts that populate news feeds and Twitter threads&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":463698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvODYwZGMyY2UtY2ZhNi00MDUwLTg5NTYtOWJlMjEzOTk4MWZkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,81260,130377,74355,10595],"class_list":["post-463697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-community","tag-bitcoin-lifestyle","tag-adoption","tag-environment"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=463697"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/463698"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=463697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=463697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=463697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}