Inflation punishes the cautious while Bitcoin gives hope for the future - Jordan Peterson
Author and psychologist Jordan Peterson said that hyperinflation hurts those who are the pillars of society.
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The ability to save is an essential tool for self-regulation and planning for the future, but when inflation spirals out of control, those who try to delay gratification are punished for their choice. In contrast, Bitcoin (BTC) does the opposite, according to clinical psychologist Jordan Peterson.
On the show titled What is Money?, Peterson joined Bitcoin entrepreneur Robert Breedlove to talk money and discuss the effects of fiat inflation on people giving up on instant gratification and how bitcoin gives hope for the future.
According to Peterson, hyperinflation hurts those who work patiently 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 security and survival of civilization. He explained that:
"You want to encourage people to believe in the future and make decisions that make delaying gratification morally laudable and intelligent. Inflation hurts those people."
Peterson pointed out 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, says psychologist.
He further mentions that BTC could be a device that will allow 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 handle it. Good luck with that. It's just not going to happen,” he said.
>Related: Bitcoin 2022: Thiel Calls Buffett a 'Sociopath', Mexican Billionaire Owns 60% of BTC
Peterson dived into Bitcoin in 2019 when he started
Author and psychologist Jordan Peterson said that hyperinflation hurts those who are the pillars of society.
New
The ability to save is an essential tool for self-regulation and planning for the future, but when inflation spirals out of control, those who try to delay gratification are punished for their choice. In contrast, Bitcoin (BTC) does the opposite, according to clinical psychologist Jordan Peterson.
On the show titled What is Money?, Peterson joined Bitcoin entrepreneur Robert Breedlove to talk money and discuss the effects of fiat inflation on people giving up on instant gratification and how bitcoin gives hope for the future.
According to Peterson, hyperinflation hurts those who work patiently 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 security and survival of civilization. He explained that:
"You want to encourage people to believe in the future and make decisions that make delaying gratification morally laudable and intelligent. Inflation hurts those people."
Peterson pointed out 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, says psychologist.
He further mentions that BTC could be a device that will allow 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 handle it. Good luck with that. It's just not going to happen,” he said.
>Related: Bitcoin 2022: Thiel Calls Buffett a 'Sociopath', Mexican Billionaire Owns 60% of BTC
Peterson dived into Bitcoin in 2019 when he started
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