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50 sats \ 1 reply \ @0fje0 15 Sep 2023 \ parent \ on: We should all try and be more frugal meta
All of them good, solid points. Thanks!
The one that resonates the most with me, is this one:
While I've been doing this for most of my life - often frustrating my family - I recently started tracking some key expenses in bitcoin. I.e. converting the expense from fiat to sats.
It's fun and rather 'inspirational' to see these expenses deflate in BTC terms over time. And helps to maintain a low time preference by somehow making it more tangible & real.
Currently I only track a few items but the plan is to expand the list to eventually include all my expenses. For example:
- Electricity: sats/kWh
- Food: sats/loaf of bread
It also serves as my own, personal inflation index. One I can rely on more than any government issued "CPI".
Yeah. Every time I make a purchase there's a mental calculation I do in the back of my mind about what future value I'm throwing away by making a purchase today.
My working assumption when doing these calculations is a 20-20 rule: Bitcoin flips gold's market cap (x20) a generation from now (20 yrs). So if I buy a bar of chocolate for £1 today, that's £20 I'm throwing away 20 years from now.
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