Activity Lesson 2

Bitcoin Monetary Revolution
#1289

Propose a change you could make to one of your habits, that would reduce your time preference from high (instant gratification) to low (delayed gratification) time preference. It could relate to any aspect of your life (financial, diet, exercise, relationships or education).

-One change I will surely implement in my habits is spending less and less of my income in buying things like " the latest iPhone ", i will rather invest in a deflationary asset such as Bitcoin , and increase my profit slowly over a long period of time! and buy a house later ā€¦

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#1290

Constant education. Educating yourself always gives gratification.

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#1291

I should impose limits to how much time I spend on my ā€œrewardsā€ i.e. watching youtube videos after some work being done. The balance could be improved definitely.

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#1292
  • get a better rythm of sleep
  • spend less time on social media and take the time to learn
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#1293

I have been driving around in a sh*t bin for the last 2 years and i have had this urge to sell it and upgrade to a more presentable motor. However, as discussed in this chapter i have reduced my time preference from high to low by maintaining my current motor which is mechanically sound and getting some odd jobs done to make it more presentable. This has been a case of putting my ego in check and thinking about the long term prospects of keeping my money in crypto that is (probably for the rest of this year) going up in value. A new motor would depreciate in value and take precious money away from investments that are multiplying.

As a Fitness professional and an expat in a foreign country, i live pretty clean and frugal when it comes to money/fiat. Especially during these COVID times. I could however, go on a full one year no beer which would save some fiat currency that could be used for daily operations, thereby maintaining my possitions without the need to dip in to pay myself!!!

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#1294

After a good day of eating healthy I have a habit of rewarding myself with sweets. It would be great to change it to eating small amounts of sweets only after weeks of eating healthy when I actually can see some resultsā€¦ Easier said than doneā€¦

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#1295

I think I need to turn my phone off for the majority of the day. I know Iā€™m among the majority of people with smartphones who have trouble putting it down, turning it off, or putting it someplace where we cannot be distracted by it. I tend to have my phone in hand letting myself be distracted by nonsense while having learning videos on on my computer. Yes, these smartphones do not help when we are trying to focus but ultimately we are the ones to blame for allowing ourselves to be distracted.

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#1296

A change would be to prepare meals at home rather than ordering food to-go or delivery. This would help lower the amount spent on food and have better healthy foodā€¦

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#1297

Iā€™ve realized that my current career is not what I envisioned it to be. Iā€™m being paid mediocrely, the hours are insane, the career progression is stagnant at best and exposes me to danger. What Iā€™ve done is relocate myself to a different location which allows me to do remote work(still the same company) while using more of my my time acquired from working remotely to invest and re-educate myself. Hence, Iā€™ve invested in cryptocurrencies and made pretty good returns and re-invest the profits into learning more about crypto(hence the reason Iā€™m here) and hopefully with the knowledge I can obtained from the Academy, I would be able to switch career pathways into something more challenging and fulfilling in the blockchain industry.

2 Likes
#1298

It has to be studying consistently, i needed to manage my time throughout the day to get study time in. I have a full time job and trade, yet i still have time. So ive been studying at my full time job, listening to audios so that when i get home i have less to do. It also gives me more time with my family. Time management has giving me better results.

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#1299

I could moderate my credit spending habits by paying off my credit balance as quickly as possible before buying another discretionary item This should keep me out of credit card debt and improve or maintain a good credit score.

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#1300

Taking youtube off my phone Iā€™ve already deleted facebook, twitter, instagram which increased my time to consume an amount of audiobooks I def thought infeaseable before. This would hopefully drive up my productivity to be more focused here, I already have adhd so being self distracted is already a factor regardless, Iā€™m gonna need more discipline with my routine.

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#1301

Start walking even if it is 10 minutes away, and build healthy eating habits for me and the family.

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#1302

What i need to change is not spend money based on future earnings. Which im working on currently.

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#1303

My time preference for education is very high, i love to learn and if I had to ability to learn entire subjects in minutes I would. I need to start developing a new perspective on learning and understand that it is a process in order to do it properly

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#1304

I could work less to learn more

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#1305

I need to start eating less junk food, I already exercise a lot so all I need to do is to stop eating wrong and everything will work out how I want it to. Eating junk food gives me instant gratification while working on my health and body will give me delayed gratification.

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#1306

sheiklouise, I like to say that addictions are hard to break. Yet, you have done the first step to turn away addiction to cigarettes. One thing I know now which I did not know then is that cigarettes, or smoking them is very harmful and is even worst to others around smokers who are exposed to second hand smoke. The rate cancer patients is higher for those who are exposed to second hand smoke then the actual smoker, it is bad the same. I think of that and it helps adapting a condition to keep from smoking since it is doubled barreled on the threat of suffering from lung cancer.

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#1307

procrastinate lessā€¦

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#1308

Propose a change you could make to one of your habits, that would reduce your time preference from high (instant gratification) to low (delayed gratification) time preference. It could relate to any aspect of your life (financial, diet, exercise, relationships or education).

A. I would say going out to eat everyday. I would go from instant gratification and trying to save time and give me instant pleasure to making my own food everyday which will give me less instant gratification and increase my time for preparation. It will save me money as well.

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