The ability to save is an essential tool for self-regulation and planning for the future, but when inflation becomes uncontrollable, those who go out of their way to delay gratification are punished for their choice. Instead, bitcoin (BTC) does the opposite, according to clinical psychologist Jordan Peterson.
In the program called What is Money? (What is money?), Peterson joined Bitcoin entrepreneur Robert Breedlove to talk about money and discuss the effects of fiat inflation on people giving up instant gratification and how bitcoin gives hope for the future.
According to Peterson, hyperinflation hurts those who patiently toil and save for the future. He described these people as the “pillars of our society”, and Peterson argued that these people are vital to the safety and survival of civilization. He explained that:
“You want to encourage people to have some faith in the future and to make decisions that make delayed gratification morally laudable and smart. Inflation hurts those people.”
Peterson noted that with inflation distorting the market, one of the things that made him interested in bitcoin is that there are no such distortions or interferences. Cryptocurrency enables a free market, according to the psychologist.
Also, mentions that BTC can be a device that allows society to adapt to what he describes as the horizon of the future. “It’s the only damn device we have. Unless you think the central planners are going to manage it. Good luck with that. That’s not going to happen,” he said.
Peterson got into bitcoin in 2019 when he began accepting BTC donations after leaving subscription platform Patreon over free speech concerns.. The author of 12 Rules of Life has also been trying to understand bitcoin since 2021, inviting BTC advocates to his podcast and exploring more about cryptocurrencies.
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