How to Go Infinite?

To infinity and beyond!

Book review of Going Infinite, and also some thoughts on walking:


Book Review: Going Infinite by Michael Lewis, the Rise and Fall of a New Tycoon, the Story of Sam Bankman-Fried and FTX and Alameda Research

So I just finished going infinite by Michael Lewis, highly recommended read. Why? Very very fun read, and also… Fascinating insight into the world of crypto, money, currency, Fiat currency etc.

Quick summary:

  1. Sam Bankman Fried isn’t the evil villain everyone wants to paint him as. He is just like an extremely uber genius math prodigy whiz kid, who has zero concern for social norms.
  2. Perhaps the real culprit here are the effective altruists (“effective altruism”— bad), these new tech money elites, who follow utilitarianism, who want to find a reason to “save the planet”, and I think… they actually want to see humanity destroy itself, in order to go to Mars or whatever.
  3. This whole trend of creating your own cryptocurrency or token is a bad idea. FTT, which was the token for FTX, was probably the biggest critical downfall of ftx.com. You should never hedge your finances on imaginary token.
  4. Money is fake
  5. CZ, the CEO of binance, seems like kind of a strange character. Once again he isn’t evil either… but, it seems that petty rivalries and feuds often escalate into some sort of market downsides.
  6. Apparently from what I understand, besides all of the bad behavior, ftx.com was actually a good trading platform. It allowed novice traders to trade, and also more advanced quants to trade as well. Apparently it was very cutting edge at the time, offering advanced treating tools for experts.
  7. Alameda research, which actually was in existence before ftx.com is the strange case. Essentially it was the place where money was being funneled into, which may be turned out to use customer funds to fundraise strange effective altruist campaigns. For example, Sam Bankman Fried essentially had an unlimited US dollar bank account, to throw money at any sort of celebrity endorsement, which includes Tom Brady and Stephen Curry, And also, throwing vast sums of money at political candidates running for office, to essentially ensure that Donald Trump did not get elected (he still did). I believe that Joe Biden and his campaign was given over $100 million from Sam Bankman Fried.

So what happened?

Some interesting things:

First, learning about Jane Street, one of the high frequency trading firms, a bunch of quant, quantitative folks, doing some sort of hedging, maybe dynamic hedging as Nassim Taleb calls it — essentially a lot of the trading world is automated by algorithms, and bots. Jane street recent news.

It also seems that a lot of this is run by people who are highly mathematically trained, people who are essentially mathematical thinkers.

Maybe this is where math is interesting; it isn’t math for math, but instead, the purpose of math is to think more critically, and to also think quicker.

So what happened?

I think essentially what happened was all of the customer accounts of ftx.com were funneled into Alameda research, which then either directly or indirectly went to Sam’s discretionary spending fund on political matters, building infrastructure for the headquarters in the Bahamas etc.

Also, the demise and downfall of ftx.com was that it relied too much on hedging; essentially let us say that $10 billion worth of US dollars worth of crypto was in the platform, customer money… and let us assume that at once, 100% of the customers would want to pull their money. This would not be possible because at one point a time, ftx.com might only have a total of 10% of the customer funds.

I think this is actually what happens similarly in traditional banks as well. A bank never has all the customer money, they essentially use your money as leverage to speculate elsewhere.

Also this is where I’m starting to get more skeptical of traditional IRAs, 401(k) plans, Roth IRA etc.; once again, certain companies and corporations in the US government are trying to leverage your money right now to make a profit on something, while you have to sit there and just twiddle your thumbs.

Now what?

It seems that I think, the best trading platform is Coinbase. I see it like it is the PayPal, the new PayPal for crypto.

Also, I am not really like a crypto anarchist; I like the government, I like being able to transfer it into my normal American Bank account, and I like the idea that if I wanted to, I could easily convert it into US dollars. Of course it all comes with the fee; but that fee is nominal for the convenience and the practicality of things.

I recently converted 90% of my bitcoin into chainlink, and one of the driving factors is what if chainlink becomes like the next SWIFT for international banks? This would help a lot of the global finance industry.

For example, my mom currently lives in South Korea, and having to transfer money from my US Bank account to her South Korean bank account and vice versa was a major pain in the ass. Having to literally go to a bank teller in real life and having to sign all these paper forms was insanely cumbersome annoying and time-consuming. It should all be able to be done digitally, in terms of cryptographic truth.

Also, another subtle funny thing; a lot of hourly wage service workers have to punch in punch out, but… it seems difficult to know for 100% certain or not if they actually truly showed up for work or not. Maybe chainlink could solve that.

Useful tools?

I still love bitcoin and I think bitcoin is sexy, and I think that everybody should own at least one bitcoin, just in case it goes to $10 million a bitcoin or who knows even $100 million a bitcoin by the time that we are about to die.

Also, I think everything in crypto should be done in the spirit that literally it could all go to zero. It probably won’t, but it might go down to just one percent of the value what it was worth before. For example I was able to ride digibyte from 20 cents a dgb to maybe 50 cents a digibyte, in which I literally traded to chainlink, and then converted it all back into bitcoin. But now, digibyte in now in shambles, worth less than a penny.

The reason I like chainlink is that it actually does something useful. To create a technology which actually does something is a good idea. Bitcoin is great, but ultimately I think of bitcoin more like digital electronic gold. Most people never spend their gold, they just hoard it.

Data price feeds?

Data.chain.link

A very useful technology and service that chainlink provides is giving you an accurate price of certain cryptocurrency assets. For example, if you really wanted to precisely know the price of one bitcoin pegged to the US dollar, down to the cent… who do you trust? Because some platforms give you slightly different numbers. Ultimately we want ultimate truth, the most accurate number. Chainlink will offer that.

The reason why this is critical is that one thing I learned from going infinite and flash boys… literally even a quarter of a penny, if leveraged and hedged with trillions of dollars can make a fat profit. These really really big firms will want accuracy of crypto prices down to even a fraction of a penny.

Illuminati influences

So one character I find very interesting is Eric Schmidt, the ex CEO of Google. He made Google to become the Google it is today. Apparently one of the things he said, a strategy that he had when see you at Google was genius; “We made sure to put a little bit of Google into everything”. YouTube video.

Quite genius. I think nowadays almost every single product tracking thing is somehow connected to google analytics and Google Adsense somewhere. Even when you Google something and open up the hyperlink and click it, there is this long ugly URL with a bunch of Google tracking code in it.

Also I find Eric Schmidt interesting because he was mentioned in the going infinite book. Even apparently ERIC Schmidt I think… ran for Senate or something, it might hold a board seat somewhere?

Now this is the killer: Eric Schmidt joined chainlink as part of their board of trustees. This is good news for chainlink, because then what it means is that I think… ERIC Schmidt, probably owns a substantial number of chainlink in his own personal account, and now that he has political power, he will most likely use his political power to enrich himself. Therefore as a consequence, if you own chainlink, it is a good promise that ERIC Schmidt is probably behind the scenes, helping you become richer.

Also

I took some screenshots, but essentially all the rich people are banding together to become richer together. Apparently there’s lots of private parties in which Jeff Bezos shows up, a few of the Kardashians, etc.

I find this interesting not from a conspiracy theory perspective, but essentially the elite are essentially giving each other back rubs, maybe wealth is just a huge circle jerk.

Michael Lewis for the win

I love Michael Lewis for his candor, his humor, his offkilter humor. And also would I like by Michael Lewis now because he is so successful, I think he’s just really writing these books out of self interest and fun. You could tell that he is actually legitimately interested in the life of Sam Bankman-Fried, expensively interviewing his parents, his friends etc.

You cannot fake passion and enthusiasm and fun. It is a hugely entertaining read and insightful. Highly recommend.

ERIC


So now what?

Walk more, think less.

I think one of the really big critical issues here is that in modern day times, we spend too much time thinking, not enough time walking.

My vision is that the future, we are essentially going to be like elite homeless people. That the new tech trillionaires of the future, we will be like some sort of off the grid, Zen Stoic monks. We will be mostly shirtless, walking around 50 miles a day, aimlessly for fun, lifting weights here and there for fun, and not have access to a phone, and not be contactable.

We will bask in the sun, and we will only prefer to lift weights in the direct sun, topless.

We will be maximally friendly, courteous, fun. Like overgrown children. Yet we will also be insanely wise, intelligent critical and deep.

If you haven’t already, don’t be a cheapo and just subscribe to the ChatGPT plus. This is literally the ultimate life hack.

What to become?

Just become a street vlogger like ERIC KIM. Just walk around a lot, vlog any random thoughts on your mind and upload it to YouTube and your own blog. As long as you get more than two views, consider it successful!

Also, double dip; shoot photos and make photo art, and also use DALL-E, DALL-E 3 to make AI art! And simple; keep it all open source.

So what can money buy?

Money can buy you experiences, and also leather products.

The more I use HAPTIC PRODUCTS, the more I love it. For example this ERIC KIM PORTFOLIO CASE Cindy and I made and designed back in Saigon in 2017… I still use it every single day, and the beauty of it is that the more I use it, the more comfortable it becomes, the more it becomes.

This is ultimate wabi-sabi— the general idea with leather which I love is that it will last longer than you. You can hand it down to your kids!

You don’t buy a HAPTIC PRODUCT for yourself, you buy it for your future children (ripoff some watch, Rolex, AP ad I saw somewhere).

SHOP HAPTIC >

EXPERIENCE EK

All access to some of the most interesting thoughts on the planet.

ERIC KIM EXP >

Some more fun thoughts on walking:


THINK LESS, WALK MORE.

A thought in modern day society: we think too much.

For example, some modern day ills include the fact that we wake up, we stay at home, work from home, never leave the apartment or the house all day, or even worse… we go to the office, stay in the office, don’t leave all day, eat lunch at our desk in front of our laptop or computer… even worse, if you’re hardcore you don’t leave the office for days weeks or even months… You just sleep in a beanbag next to your desk or in a sleeping bag under your desk.

Problems?

This is the big issue I’ve discovered:

I think what the modern day man or person strives to be is to become the ultimate productivity machine robot who doesn’t need anything. That somehow you could optimize yourself out of going outside, getting natural light by just popping some vitamin D tablets, don’t need to exercise, and if you exercise, the minimum amount of exercise necessary not to atrophy your body, Find no need of the sun, or no need to walk because it is “inefficient”.

In fact, I wonder if this whole bizarre trend of “running“, or “jogging“, is because people don’t think that walking is “effective”, or “efficient “. People are somehow trying to maximize their movement activity; they don’t think of walking as “exercise“, and somehow that it doesn’t “burn calories” (the calorie in, calorie out myth).

As a consequence, modern day man becomes strange. A strange plant. Lacking natural light and melanin in their skin, lacking ability to make iContact with people in embodied reality, and prefer to not interact with any humans. Thus the trend towards mobile orders etc.

Think ancient Greece

A lot of people like to think about ancient hunter gather lifestyles whatever… I prefer to think about ancient Greece, ancient Sparta. Before money was invented, and you could only measure your wealth by how many cattle you owned. Or how many men you governed.

For example, in the Iliad, I think it was Nestor who told Achilles that king Agamemnon was the superior man, because he commanded more men.

What are we striving for and looking for?

I think a lot of us are dealing with some sort of modern day pain suffering and discontent and we’re not really sure what to do about it. I think this is why we seek out “therapists”, see psychiatrists, get prescribed some sort of generic medication, etc. In fact, besides the extreme edge cases, I think medication should be avoided at all costs. I think when people are depressed, it is a physiological and physical depression. Not enough time outside walking, in the direct elements, in the direct sun, not enough exercise and lifting weights, over consumption of alcohol, caffeine, coffee, drugs, marijuana etc. I don’t think anything is wrong moralistically with marijuana… but I distrust anybody who consumes or takes or does marijuana on a daily basis. Marijuana does strange things to your mind.

I trust nobody who is woke, who tokes!

Also, if you’re reliant on marijuana to fall asleep at night, once again… not a good sign.

Back to ancient Sparta!

I think what we are having an issue with in modern day society is more of a moralistic and ethical one. The thought is we are born to be productive, and our self-worth and value is simply predicated on how productive we are, how much money we make, how much we increase our money number in our savings account, buying houses etc.

Therefore, anytime we are not actively doing that… we feel some sort of inner guilt, shame, and we lose respect for ourselves. We end up self-flagellation ourselves.

Don’t trust nobody on social media

Several things; first and foremost, any human being who uses Twitter, Instagram, Facebook etc.… they’re hopped on a strange matrix simulation like dopamine machine. I think using social media and having notifications on your phone might actually be worse than gambling. At least gambling has to do more with money… social media has to do more with your self-respect, your self-esteem esteem.

“I’ve been awakened by an enlightened man’s dream… checking Instagram comments to crowd-source my self-esteem”— KANYE

Burn the boats!

Very simple. Just stop using social media, uninstall all of the apps from your phone, or just delete them.

For example, I think one of the most glorious moments of my life, one of the greatest things I have done in my life as a photographer and “influencer“, was deleting my Instagram in 2017. Why? Since then, I feel like I unhooked my brain from the matrix. I took the red pill. Anyone who still uses Instagram, Facebook, Gmail, Twitter, YouTube, listens to podcasts, has Spotify, Netflix, etc. is still on the blue pill.

Why? The best way to have more interesting thoughts is via negativa— actively canceling out, or deleting, or getting rid of external stimuli in the spirit of books, blog posts, media, Reddit, the news, etc. In fact the big problem in today’s world is that we are almost like in a human centipede consumption of information use and media; one media outlet regurgitates and quotes the other one, which quotes the other one, which might’ve ultimately just been written by ChatGPT or some sort of AI bot. In fact I’ve been experimenting a lot with chatGPT4, the paid premium one, and what I’ve discovered is funny; even ChatGPT doesn’t know that it was written by ChatGPT.

For example, for fuzzies, I ChatGPT’d myself. I would open up ChatGPT 4, the premium paid one, and asked simple things like “who is ERIC KIM“? ChatGPT with then do an effective summary and overview of me my life story in my life loss etc., and then I just copied and pasted the information, and literally published a blog post on what ChatGPT said. I then later a few days later, ask ChatGPT “ERIC KIM philosophy“, and then once again, it re-summarized things and actually linked back to my blog giving me a citations and footnotes, but the funny thing was… the citations and footnotes gave me were actually the blog post written by ChatGPT itself!

Or another words, ChatGPT doesn’t know that I am ERIC KIM.

The thinker

To think is to sit on your butt and ruminate and think. No no no… to think is to walk. In fact maybe we should stop call it “thinking”, but just walking.

My personal thought is the noveau luxury is walking. If you have the privilege of having a 100% pedestrian lifestyle, 100% biped lifestyle, in which you’re just literally walking everywhere, without having to use the agency of a car, it is a sign that you are truly truly rich and wealthy. Secondly if you don’t always have to check your phone. Thirdly, if you could have all the notifications on your phone disabled.

How and why is walking so critical?

First without thinking about it too much… just think about this: if you walked 50 miles a day, I think 99.9% of your life cares concerns and worries would disappear. Especially if you do it in nature. With uneven surfaces, different grades and elevations, no two steps are alike.

One of the greatest things about being in nature, just going on a simple hike, is that sometimes it is steep, sometimes it is level, sometimes it is dirt, sometimes it is pavement, sometimes it is gravel, sometimes it is grass, etc. Having variation in the texture of the environment and the terrain is critical.

In modern day times, everything is flat. And everything is the same thing; typically just concrete.

I actually wonder and think, I wonder if a lot of the issues with modern day health and physiology has to do with the fact that everything is flat. I think the reason why we are bipeds is that as a biped, we are very very very good at traversing uneven terrain. In fact, one could even argue that human who is upright and biped could better navigate rocky and mountainous terrain compared to a four-legged animal.

Also the best thing you could buy with money is vibram five finger shoes. Just buy it for yourself for Christmas or ask somebody to buy for you.

We got to stop calling it “hiking”

One of the biggest issues I’ve discovered about the whole “hiking” notion is that people think too much that it has to be done a certain way. We think that somehow we have to buy those silly hiking poles, buy a hat, buy some hiking boots at REI or whatever, and wear all this expensive outdoor clothing.

Technically you could just do a barefoot, or… get some vibram five finger shoes, and just go on a fun walk!

Another weird thing I’ve discovered is we think we got to purchase the thing in order to somehow justify getting into a certain lifestyle. For example, we think we got to buy some sort of off-road four-wheel-drive car some sort of Subaru or jeep or sports utility SUV car in order to do “outdoorsy” stuff. This is silly. For a while Cindy and I work on hardcore hiking and camping stuff, and literally 99.99% maybe even 100% of the places we went to, we were able to simply do it in a simple four-door sedan, the Ford fusion which is just a normal sedan with a front wheel drive car.

I think this is the insidious nature of capitalism and consumerism; it makes you feel insecure and uncertain and unqualified, and we think that in order to do the thing that we want to do, we must buy the things in order to do it.

So now what?

I can’t speak for you or others. I think everyone has different talents, different skills, different desires.

First, I think having some sort of life dreams and goals is a good one. And striving with all your might to meet them and accomplish them and achieve them.

Then the next question is… then what? Should you just keep doing this into infinity? Ad infinitum?

Maybe not. Or maybe.

For example with weightlifting, a simple path is just to keep increasing your one rep max until the end of time. I don’t think this is a bad idea.

But also at the same time, you don’t need to be tied down to this either. Technically real life, reality is not metricated.

For example, if you think about the Iliad, Achilles, Hector, nobody could care less about “how much you can bench“. It was a simple binary; if you were in hand to hand battle with another fighter or warrior, would you kill him, or would he kill you? Who was the more courageous and superior and dominating force?

Also well interesting is that it seems that in the Iliad, nothing was really accidental or by chance. For example when warriors would go to battle, one warrior would not “accidentally“, get killed by the other warrior. It really did come down to courage, skill, power, who was the better fighter.

Even the final bout between Achilles and Hector; Hector was essentially hoodwinked and tricked… He was deceived into thinking that he had his charioteer, his trusted fighting buddy by his side to take on Achilles, because Hector was no dummy; he actually knew that Achilles was the superior fighter, and if you went head on with Achilles, he would lose. He was hoodwinked by one of the gods, who made an illusion and made themselves appear to be the friend of Hector.

Real life

So then the question is in real life, what do you seek to do, achieve, etc?

Heraclitus one said, “The greatest glory is to seek immortal glory amongst men, yet the majority of men stuff themselves like cattle.”

Who will not be remembered?

I don’t think that any modern day tech CEO will be remembered, nor cared for. Exceptions include CEOs who were also founders.

Also, I think people who will be forgotten include people who sell their companies. I don’t know… If you ultimately decide to sell your company, even for $10 billion… I think it is a signal that you care more about money than the thing you built. Why? As long as your business is making an income and you can somehow pay yourself a base salary, pay your rent, your utilities, your meat, etc.… what else need do you have for money?

This is where I give Mark Zuckerberg great credit. In the early days of Facebook he had so many offers to be bought out, but he stuck to his guns and refused. Highly intelligent.

Some people I think who compromised include Jack Dorsey of Twitter, I’m even starting to get a little bit suspicious of the cofounders of Google, Larry Page and Sergey Brin; why did they end up leaving running Google and building the board of Alphabet instead?

Perhaps one graceful exit is Jeff Bezos at Amazon; I think he’s put in his fair share and his duties; I think space travel was his ultimate dream, and if you read invent and wonder, I think he really did stay true to his principles and never compromised. Also, him publicly exposing his controversial affair in the public, was insanely bold ballsy and respectful. He refused to be blackmailed. What a true mensch.

People who will be remembered

I think Elon Musk might be remembered forever. Why? Through pure force of will, might, and craziness… He was able to achieve the impossible. His thinking was only limited by physics, the laws of physics, first principles. Aristotle would have been proud of him.

Second, Kanye West. I really don’t think there is any thinker innovator or artist quite as bold, innovative, and amazing as him. Even now, randomly in the middle of the night, this morning I thought about his “Runaway“ song, and his perfect album my beautiful dark twisted fantasy. Actually if you think about all the albums and songs he has ever produced, he was so ahead of the game, so innovative and unique, he really did care for creating true magic in his music.

Also Steve Jobs. It seems that nowadays kids don’t really know who he is, but, for innovators and thinkers like myself and countless others, they will always sight Steve Jobs as an inspiration. Also, it seems that Steve Jobs died at the right time; he fulfilled all of his creative visions, never compromised his beliefs, and I think he set the path for other creatives down the line.

I think the last vision of Steve Jobs was to create a creative company so infused with creativity that it would stand the test the time. I think he was quite successful.

What is the value of thinking?

The big question at hand is what is the value of thinking? Why think?

I think some people think, engage in thinking because they hope that it will lead to some sort of money making opportunity.

For me, I love thinking and sharing my thoughts because it is fun! To me, a life devoid of thoughts or interesting thoughts is not a life worth living.

The best way to live life

Very simple: only pursue and do that which you are genuinely interested in, ignore everything else.

Also, in terms of happiness and food… maybe the single most critical thing to improve your happiness is to increase the quality of your meat. Beef, beef liver beef heart beef intestines, lamb, grass fed ground beef etc. Wagyu ground beef at Costco is great.

In fact, I have a theory that a lot of the modern day issues that we got is that we’re under nourished. We aren’t eating enough red meat, enough beef or lamb. Pork is not meat, chicken and turkey is not meat.

Don’t let the feelings of others govern your behavior, in terms of how you eat or live

Another bizarre thing I’ve learned is the way that some people live their lives and they decide what to eat, what not to eat, how to live, how not to live, how to talk, what to say what not to say based simply on other people; they center themselves or don’t really see what’s on their mind because they’re afraid of:

“How do you think that makes me feel?”

But we don’t do the opposite; we don’t then tell that person the same. That “How does that make me feel?”

For example this nonsense behind gender pronouns. That you demand that I call you a certain pronoun, but what if I don’t feel comfortable calling you that pronoun?

It has to be faster, more seamless

One of the good reasons I think of building your own gym at home is that it reduces a lot of the friction. For example I generally love the gym and I think gym life is good, but here in LA I haven’t been able to find any good gyms; they all suck. Therefore this motivated me to build my own gym, just in my back yard, parking lot garage, in the back of my apartment.

I love this off the grid approach because literally… there is no friction. I don’t have to jump in the car and I don’t have to check in or scan my QR code or whatever whatever, I never have to wait for equipment etc.

If you have tight quarters, a simple solution is to just buy really really heavy kettle bell, 105 pounds and up. Or just buy a heavy sandbag, go to the playground and fill it up with sand, and just exercise with that picking it up and throwing it around. Even with us experienced weightlifters, I encourage buying the 400 pound sandbag on roguefitness.com or just get it on Amazon for cheap, fill it out with playground sand and experiment lifting that at home. Titan.fitness is also good.

I actually think that the most critical factor is to exercise outside, in the direct sun. If it is cold, just layer up.

Why exercise outside? It is more fun, more lively, more uplifting. Also one of the good benefits of working out at home is when you need to stop by the bathroom to pee, you could just pull yourself another espresso! Good luck doing that at any gym.

In fact I have an idea; I think all gyms should have some sort of coffee bar or espresso bar. Not these bad energy drinks, which is just fake sugar added.

Lift with EK

If you’re interested in lifting with me, shoot me an email at eric@erickim.com, if you live in LA or anywhere in the southern California area.


Now what?

Ultimately never forget that you’re an artist, a visual artist. Photography is just another tool in your creative tool kit.

Use dall-e, ChatGPT plus and premium, make your own AI generated art. Have fun with it, don’t take it too seriously.

Post it to your own self hosted blog, and keep updating! The ultimate sim of a blogger is this:

If somebody opens up a new tab and loads your blog, and they don’t see anything new.

ERIC


Some good freebies

Always updating the ERIC KIM start here page with more fire.

Also, free and open source books here.


Forward the fire!

If this sparked even one fun creative idea within you, feel free to forward this to a friend!

EK NEWS >


“Happiness is walking (a lot).”

ERIC


Book Review: Going Infinite by Michael Lewis, the Rise and Fall of a New Tycoon, the Story of Sam Bankman-Fried and FTX and Alameda Research

So I just finished going infinite by Michael Lewis, highly recommended read. Why? Very very fun read, and also… Fascinating insight into the world of crypto, money, currency, Fiat currency etc.

Quick summary:

  1. Sam Bankman Fried isn’t the evil villain everyone wants to paint him as. He is just like an extremely uber genius math prodigy whiz kid, who has zero concern for social norms.
  2. Perhaps the real culprit here are the effective altruists (“effective altruism”— bad), these new tech money elites, who follow utilitarianism, who want to find a reason to “save the planet”, and I think… they actually want to see humanity destroy itself, in order to go to Mars or whatever.
  3. This whole trend of creating your own cryptocurrency or token is a bad idea. FTT, which was the token for FTX, was probably the biggest critical downfall of ftx.com. You should never hedge your finances on imaginary token.
  4. Money is fake
  5. CZ, the CEO of binance, seems like kind of a strange character. Once again he isn’t evil either… but, it seems that petty rivalries and feuds often escalate into some sort of market downsides.
  6. Apparently from what I understand, besides all of the bad behavior, ftx.com was actually a good trading platform. It allowed novice traders to trade, and also more advanced quants to trade as well. Apparently it was very cutting edge at the time, offering advanced treating tools for experts.
  7. Alameda research, which actually was in existence before ftx.com is the strange case. Essentially it was the place where money was being funneled into, which may be turned out to use customer funds to fundraise strange effective altruist campaigns. For example, Sam Bankman Fried essentially had an unlimited US dollar bank account, to throw money at any sort of celebrity endorsement, which includes Tom Brady and Stephen Curry, And also, throwing vast sums of money at political candidates running for office, to essentially ensure that Donald Trump did not get elected (he still did). I believe that Joe Biden and his campaign was given over $100 million from Sam Bankman Fried.

So what happened?

Some interesting things:

First, learning about Jane Street, one of the high frequency trading firms, a bunch of quant, quantitative folks, doing some sort of hedging, maybe dynamic hedging as Nassim Taleb calls it — essentially a lot of the trading world is automated by algorithms, and bots. Jane street recent news.

It also seems that a lot of this is run by people who are highly mathematically trained, people who are essentially mathematical thinkers.

Maybe this is where math is interesting; it isn’t math for math, but instead, the purpose of math is to think more critically, and to also think quicker.

So what happened?

I think essentially what happened was all of the customer accounts of ftx.com were funneled into Alameda research, which then either directly or indirectly went to Sam’s discretionary spending fund on political matters, building infrastructure for the headquarters in the Bahamas etc.

Also, the demise and downfall of ftx.com was that it relied too much on hedging; essentially let us say that $10 billion worth of US dollars worth of crypto was in the platform, customer money… and let us assume that at once, 100% of the customers would want to pull their money. This would not be possible because at one point a time, ftx.com might only have a total of 10% of the customer funds.

I think this is actually what happens similarly in traditional banks as well. A bank never has all the customer money, they essentially use your money as leverage to speculate elsewhere.

Also this is where I’m starting to get more skeptical of traditional IRAs, 401(k) plans, Roth IRA etc.; once again, certain companies and corporations in the US government are trying to leverage your money right now to make a profit on something, while you have to sit there and just twiddle your thumbs.

Now what?

It seems that I think, the best trading platform is Coinbase. I see it like it is the PayPal, the new PayPal for crypto.

Also, I am not really like a crypto anarchist; I like the government, I like being able to transfer it into my normal American Bank account, and I like the idea that if I wanted to, I could easily convert it into US dollars. Of course it all comes with the fee; but that fee is nominal for the convenience and the practicality of things.

I recently converted 90% of my bitcoin into chainlink, and one of the driving factors is what if chainlink becomes like the next SWIFT for international banks? This would help a lot of the global finance industry.

For example, my mom currently lives in South Korea, and having to transfer money from my US Bank account to her South Korean bank account and vice versa was a major pain in the ass. Having to literally go to a bank teller in real life and having to sign all these paper forms was insanely cumbersome annoying and time-consuming. It should all be able to be done digitally, in terms of cryptographic truth.

Also, another subtle funny thing; a lot of hourly wage service workers have to punch in punch out, but… it seems difficult to know for 100% certain or not if they actually truly showed up for work or not. Maybe chainlink could solve that.

Useful tools?

I still love bitcoin and I think bitcoin is sexy, and I think that everybody should own at least one bitcoin, just in case it goes to $10 million a bitcoin or who knows even $100 million a bitcoin by the time that we are about to die.

Also, I think everything in crypto should be done in the spirit that literally it could all go to zero. It probably won’t, but it might go down to just one percent of the value what it was worth before. For example I was able to ride digibyte from 20 cents a dgb to maybe 50 cents a digibyte, in which I literally traded to chainlink, and then converted it all back into bitcoin. But now, digibyte in now in shambles, worth less than a penny.

The reason I like chainlink is that it actually does something useful. To create a technology which actually does something is a good idea. Bitcoin is great, but ultimately I think of bitcoin more like digital electronic gold. Most people never spend their gold, they just hoard it.

Data price feeds?

Data.chain.link

A very useful technology and service that chainlink provides is giving you an accurate price of certain cryptocurrency assets. For example, if you really wanted to precisely know the price of one bitcoin pegged to the US dollar, down to the cent… who do you trust? Because some platforms give you slightly different numbers. Ultimately we want ultimate truth, the most accurate number. Chainlink will offer that.

The reason why this is critical is that one thing I learned from going infinite and flash boys… literally even a quarter of a penny, if leveraged and hedged with trillions of dollars can make a fat profit. These really really big firms will want accuracy of crypto prices down to even a fraction of a penny.

Illuminati influences

So one character I find very interesting is Eric Schmidt, the ex CEO of Google. He made Google to become the Google it is today. Apparently one of the things he said, a strategy that he had when see you at Google was genius; “We made sure to put a little bit of Google into everything”. YouTube video.

Quite genius. I think nowadays almost every single product tracking thing is somehow connected to google analytics and Google Adsense somewhere. Even when you Google something and open up the hyperlink and click it, there is this long ugly URL with a bunch of Google tracking code in it.

Also I find Eric Schmidt interesting because he was mentioned in the going infinite book. Even apparently ERIC Schmidt I think… ran for Senate or something, it might hold a board seat somewhere?

Now this is the killer: Eric Schmidt joined chainlink as part of their board of trustees. This is good news for chainlink, because then what it means is that I think… ERIC Schmidt, probably owns a substantial number of chainlink in his own personal account, and now that he has political power, he will most likely use his political power to enrich himself. Therefore as a consequence, if you own chainlink, it is a good promise that ERIC Schmidt is probably behind the scenes, helping you become richer.

Also

I took some screenshots, but essentially all the rich people are banding together to become richer together. Apparently there’s lots of private parties in which Jeff Bezos shows up, a few of the Kardashians, etc.

I find this interesting not from a conspiracy theory perspective, but essentially the elite are essentially giving each other back rubs, maybe wealth is just a huge circle jerk.

Michael Lewis for the win

I love Michael Lewis for his candor, his humor, his offkilter humor. And also would I like by Michael Lewis now because he is so successful, I think he’s just really writing these books out of self interest and fun. You could tell that he is actually legitimately interested in the life of Sam Bankman-Fried, expensively interviewing his parents, his friends etc.

You cannot fake passion and enthusiasm and fun. It is a hugely entertaining read and insightful. Highly recommend.

ERIC


Going Infinite Book Review

Book Review: Going Infinite by Michael Lewis, the Rise and Fall of a New Tycoon, the Story of Sam Bankman-Fried and FTX and Alameda Research

So I just finished going infinite by Michael Lewis, highly recommended read. Why? Very very fun read, and also… Fascinating insight into the world of crypto, money, currency, Fiat currency etc.

Quick summary:

  1. Sam Bankman Fried isn’t the evil villain everyone wants to paint him as. He is just like an extremely uber genius math prodigy WizKid, who has zero concern for social norms.
  2. Perhaps the real culprit here are the effective altruists (“effective altruism”— bad), these new tech money elites, who follow utilitarianism, who want to find a reason to “save the planet”, and I think… they actually want to see humanity destroy itself, in order to go to Mars or whatever.
  3. This whole trend of creating your own cryptocurrency or token is a bad idea. FTT, which was the token for FTX, was probably the biggest critical downfall of ftx.com. You should never hedge your finances on imaginary token.
  4. Money is fake
  5. CZ, the CEO of binance, seems like kind of a strange character. Once again he isn’t evil either… but, it seems that petty rivalries and feuds often escalate into some sort of market downsides.
  6. Apparently from what I understand, besides all of the bad behavior, ftx.com was actually a good trading platform. It allowed novice traders to trade, and also more advanced quants to trade as well. Apparently it was very cutting edge at the time, offering advanced treating tools for experts.
  7. Alameda research, which actually was in existence before ftx.com is the strange case. Essentially it was the place where money was being funneled into, which may be turned out to use customer funds to fundraise strange effective altruist campaigns. For example, Sam Bankman fried essentially had an unlimited US dollar bank account, to throw money at any sort of celebrity endorsement, which includes Tom Brady and Stephen Curry from the bay area, And also, throwing vast sums of money at political candidates running for office, to essentially ensure that Donald Trump did not get elected (he still did). I believe that Joe Biden and his campaign was given over $100 million from Sam Brinkman Fried.

So what happened?

some interesting things:

First, learning about Jane Street, one of the high frequency trading firms, a bunch of quant, quantitative folks, doing some sort of hedging, maybe dynamic hedging as NASSIM Taleb calls it — essentially a lot of the trading world is automated by algorithms, and bots.

It also seems that a lot of this is run by people who are highly mathematically trained, people who are essentially mathematical thinkers.

Maybe this is where math is interesting; it isn’t math for math, but instead, the purpose of math is to think more critically, and to also think quicker.

So what happened?

I think essentially what happened was all of the customer accounts of ftx.com let’s find out into Alameda research, which then either directly or indirectly went to Sam’s discretionary spending fund on political matters, building infrastructure for the headquarters in the Bahamas etc.

Also, the demise and downfall of ftx.com was that it relied too much on hedging; essentially let us say that $10 billion worth of US dollars worth of crypto was in the platform, customer money… And let us assume that at once, 100% of the customers would want to pull their money. This would not be possible because at one point a time, ftx.com might only have a total of 10% of the customer funds.

I think this is actually what happens similarly in traditional banks as well. A Bank never has all the customer money, they essentially use your money as leverage to speculate elsewhere.

Also this is where I’m starting to get more stressful of traditional IRAs, 401(k) plans, Roth IRA etc.; once again, certain companies and corporations in the US government are trying to leverage your money right now to make a profit on something, while you have to sit there and just twiddle your thumbs.

Now what?

It seems that I think, the best trading platform is Coinbase. I see it like it is the PayPal, the new PayPal for crypto.

Also, I am not really like crypto anarchist; I like the government, I like being able to transfer it into my normal American Bank account, and I like the idea that if I wanted to, I could easily convert it into US dollars. Of course it all comes with the fee; but that fee is nominal for the convenience and the practicality of things.

I recently converted 90% of my bitcoin into chainlink, and one of the driving factors is what if chainlink becomes like the next SWIFT for international banks? This would help a lot of the global finance industry.

For example, my mom currently lives in South Korea, and having to transfer money from my US Bank account to her South Korean bank account and vice versa was a major pain in the ass. Having to literally go to a bank teller in real life and having to sign all these paper forms was insanely cumbersome annoying and time-consuming. it should all be able to be done digitally, in terms of cryptographic truth.

Also, another subtle funny thing; a lot of hourly wage service workers have to punch in punch out, but… It seems difficult to know for 100% certain or not if they actually truly showed up for work or not. Maybe chainlink could solve that.

Useful tools?

I still love bitcoin and I think bitcoin is sexy, and I think that everybody should own at least one bitcoin, just in case it goes to $10 million a bitcoin or who knows even $100 million a bitcoin by the time that we are about to die.

Also, I think everything in crypto should be done in the spirit that literally it could all go to zero. It probably won’t, but it might go down to just one percent of the value what it was worth before. For example I was able to ride digibyte from 20 cents a dgb to above that, in which I literally traded to chainlink, and then converted it all back into bitcoin. But now, digibyte in now in shambles, worth less than a penny.

The reason I like chainlink is that it actually does something useful. To create a technology which actually does something is a good idea. Bitcoin is great, but ultimately I think of bitcoin more like digital electronic gold. Most people never spend their gold, they just hoard it.

Data price feeds?

Data.chain.link

A very useful technology and service that chain-link provides is giving you an accurate price of certain cryptocurrency assets. For example, if you really wanted to precisely know the price of one bitcoin peg to the US dollar, down to the scent… Who do you trust? Because some platforms give you slightly different numbers. Ultimately we want ultimate truth, the most accurate number. Chain-link will offer that.

Illuminati influences

So one character I find very interesting is Eric Schmidt, the ex CEO of Google. He made Google to become the Google it is today. Apparently one of the things he said, a strategy that he had when see you at Google was genius; “we made sure to put a little bit of Google into everything”.

Quite genius. I think nowadays almost every single product tracking thing is somehow connected to cool analytics and Google Adsense somewhere.

also I find ERIC Schmidt interesting because he was mentioned in the going infinite book. Even apparently ERIC Schmidt I think… Ran for Senate or something, it might hold a board seat somewhere?

Now this is the killer: Eric Schmidt joined chain-link as part of their board of trustees. This is good news for chain-link, because then what it means is that I think… ERIC Schmidt, probably owns a substantial number of chain-link in his own personal account, and now that he has political power, he will most likely use his political power to enrich himself. Therefore as a consequence, if you own chain-link, it is a good promise that ERIC Schmidt is probably behind the scenes, helping you become richer.

Also

I took some screenshots, but essentially all the rich people are banding together to become richer together. Apparently there’s lobbies private parties in which Jeff Bezos shows up, a few of the Kardashians, etc.

I find this interesting not from a conspiracy theory perspective, but essentially the elite are essentially giving each other back rubs, maybe wealth is just a huge circle jerk.

Michael Lewis for the win

I love Michael Lewis for his candor, his humor, his offkilter humor. And also would I like by Michael Lewis now because he is so successful, I think he’s just really writing these books out of self interest and fun. You could tell that he is actually legitimately interested in the life of Sam Bankman-Fried, expensively interviewing his parents, his friends etc.

You cannot fake passion and enthusiasm and fun. It is a hugely entertaining read and insightful. Highly recommend.

ERIC


Chainlink!

Big swap: 90% of my Bitcoin back into Chainlink!

~20,800 chainlink tokens now in my wallet woooot

CRYPTO BY KIM

dual camera bitcoin photography eric kim

Brave new world for photographers and crypto:

  1. BITCOIN SHALL BE THE LAST CRYPTO STANDING.
  2. Bitcoin Price Prediction
  3. Trust chainlink for the most accurate prices for bitcoin or any other crypto
  4. BITCOIN
  5. There is No Web 3.0
  6. 2 cents to 2 dollars?
  7. Crypto.com?
  8. Speculation vs Investing
  9. Building with Bitcoin
  10. DYNAMICS VS STATICS.
  11. How Do You Know if the Timing Is Right?
  12. BITCOIN IN THE NEWS
  13. BITCOIN & UNCERTAINTY
  14. Fake Money
  15. Why I Bought More Bitcoin (Again)
  16. How I Made Money with Crypto
  17. Better to buy Dogecoin then buy a Tesla
  18. NO LIMITS.
  19. ALL DIGITAL FUTURE.
  20. Digital over Physical Possessions
  21. DIGIBYTE.
  22. CHAINLINK.
  23. The Excitement of Starting from Zero
  24. HAPTIC INDUSTRIES NOW ACCEPTING CRYPTO AND BITCOIN
  25. In Praise of Crypto
  26. JUST BUY IT.
  27. Why I’m So Bullish on Bitcoin
  28. Bitcoin as the Simplest Cryptocurrency
  29. Why I bought (more) bitcoin
  30. Once You Become a Crypto Billionaire, Then What?
  31. Why Crypto is Under-Hyped
  32. The Joy of Speculation
  33. BITCOIN AND CRYPTOCURRENCY FOR PHOTOGRAPHERS
  34. Why I Bought Bitcoin
  35. Crypto Photography
  36. Crypto Thoughts
  37. On Making Money from Nothing

Bitcoin Philosophy

“Greed is good” – Gordon Gecko

So it seems and appears that a lot of people seek getting really really rich, really really fast, in order to buy a bunch of stuff. For example, I think the general idea is that you want to make a ton of money, feel good, buy a Lamborghini or whatever… And then what?

Crypto, cryptocurrency, crypto technology to me is fascinating because it is new, sexy, unorthodox, and interesting.

It seems that a lot of people are interested in crypto, bitcoin etc because they want to get really rich. But the tricky thing with crypto is that essentially you are really rich on paper, but typically most crypto speculators never actually dilute or convert their crypto to US dollars, which means that crypto money is not liquid, it is locked.

Crypto is intrinsically optimistic?

Crypto to me is interesting because it is edgy, optimistic, radical, and bold. Also a bit reckless.

The general idea is that with crypto, people are seeking a new revolution, something to up and the old system. Definitely a lot of anarchy vibes here, and a lot of people who are typically distrustful of big organizations, big government, etc.

Honestly I have nothing against the government, I am very happy paying my taxes, I still consider myself a bay area, liberal, open minded, at heart. I love democracy, democratic thinking. Why? It was mostly about how I was raised, how I was supported. If I did not get all of these government aided resources, like going to UCLA as an undergraduate, I would have never been able to become who I am today.

Also, simple organizations that I am grateful for include the Boy Scouts, Boy Scouts of America. I am forever grateful to my troop, my troop leaders, who helped me become an Eagle Scout, and helped me become the citizen that I am today.

Growing up, I grew up thinking that conservatives, Republicans were the devil. Why were they so greedy, if they had so much money, why don’t they help more poor people or people in need?

Irregardless, I think the promise of crypto is a more brilliant future. A lot of people seem to disdain the volatility of crypto, but I love it. With traditional stocks, you will never see a 10X gain, a 100X gain, or even a 1000x gain. Also with crypto, you could win it all, or you could lose it all. My general strategy towards crypto and cryptocurrency speculation is this:

Only put money into crypto, assuming that it will go to zero.

Perhaps the best piece of advice that I got from Nassim Taleb in his antifragile book is the idea that to maximize your gains, better to put 90% of your money in maximally boring funds, like bonds, yield savings account etc.… it is pretty crazy even now Cindy and I have a bunch of money just locked in a simple 5% APR savings account, and we get close to $2000 a month in “passive income” interest. Then, what I did was I put 10% of our savings into crypto, maximally speculative bets, initially investing in digibyte and bitcoin, later swapping it all to chainlink, along the way getting some Dogecoin, later transferring it all 100% back into Bitcoin.

All of the gains were mental. And along the way more recently, I’ve been drawing out some money from bitcoin, $5000 USD here US$5000 there… Simply to cover up moving expenses to LA.

The zen of crypto?

Ultimately what I find interesting is that crypto, people who speculate in crypto all tend to live kind of a more monastic Zen monk lifestyle. Even this one guy that I met who first got me into chainlink, revealed to me that he was a crypto whale in chainlink; apparently he first put his life savings in it, maybe $10,000 USD or so when it was worth about $.70, and then he saw it rise all the way up to $50 USD.

It was funny, because I would just see him at the local LA fitness working out, thinking and meditating, we would engage in some lively conversation, and he just drove his mom‘s old Honda Accord, I think he later told me that he was moving to Puerto Rico or something in order to avoid taxes on his crypto or some other regulatory aspects. Apparently even Sam Bankman Fried moved his corporation to the Bahamas, in order to avoid US regulation.

So what do you want to do with your wealth?

So once you are worth $20 billion, or $150 billion or whatever … then what?

Ironically the best use of money is simply peace of mind. That means money is not really a tool or a mechanism to buy a bunch of stuff that you like, but rather, being able to live a more zen, tranquil, more focused life.

For example, I think the reason why people are so addicted to email is that people are always desiring new “opportunities”, it is predicated on the fact that somehow other people will give you an afford you new opportunities and also, does predicated on the fact that somehow new opportunities will rise in which other people give you money.

But… assuming that no human being who messages you in your email inbox will give you money… would you still be interested in working with them?

For myself personally, I have close to zero interest in money. I am more interested in new opportunities, fun, new novel experiences. The things that I am proud of, or interested in, or grateful for is all of the cool interesting and sexy opportunities that I’ve had and done. Some of the people that I met, etc.

But ultimately, is there a human being more interesting than you?

Future trends

I’m currently reading the book “Going Infinite” by Michael Lewis, which chronicles is the life of Sam Bankman Fried and FTX and I find it insanely fascinating read. It seems that the same guy isn’t really the super evil guy that a lot of people in the media make him to be; the kid seems to be like a prodigy genius, mathematical minded, who really didn’t care for money or wealth. My personal theory is that he got suckered too much into this utilitarian “effective altruism“, concept… that he misused customer funds in order to “maximize“ his abilities for effective altruism.

I think effective altruism is a bad idea. Why? First of all, I think the general idea of altruism is bad; I think it puts other people in an inferior position, which I personally find is disrespectful. I think a better thing to do instead is on a day-to-day basis, instead of donating money to charities or whatever, to help empower other human beings on a one-to-one basis.

A simple thing; whenever I go to the park with Sen, and I see all these kids running around, who don’t really seem like they get much attention or love from their parents, I try to give them a little bit of that love and attention by talking to them, entertaining them etc. Perhaps this is a more effective way to “change the world“, than anything else.


The future of crypto?

Try to think about things on a 30 year basis. That means, the simple question; in 30 years, are people going to be using crypto more or less? Or, in 30 years, is the price of bitcoin going to go up or down? It seems pretty obvious that it will go up.

Also, the notion of a “digital wallet”. The general idea is that for the future, we ain’t gonna use cash money anymore. Why? I see more and more restaurants in institutions not except paper cash money. Why not? Because it is difficult to track, and I think there are also issues with employees at restaurants stealing money it etc. Even at my mom‘s old sushi restaurant where she worked at for a long time, she later found out that one of the head managers, a guy that we thought was a super good guy… Was secretly stealing money the whole time.

I think into the future, we will see less and less of “under the table“ payments; why? Because it is not trackable.


What else?

Some personal thoughts:

First, I don’t really like Ethereum. Why? It is kind of like android; maybe it is the better technology, but it isn’t sexy, only nerds know about it and use it, it ain’t mainstream and sexy like bitcoin. Bitcoin is like Apple, having the newest iPhone, iPhone Pro etc.… Ethereum is more like android, having an ugly Google pixel or some sort of generic Samsung smartphone.

Another analogy, bitcoin is like having the Lamborghini Countach, with the scissor doors, whereas Ethereum is like having the Toyota Corolla?

Altcoins?

Don’t trust old coins, or alternative coins. Why? Everyone just wants to become the next bitcoin, but ultimately… There is too much meme culture behind alt coins, like Dogecoin and Shiba Inu.

I am very dubious that the price of these Altcoins will ever go up; it seems that a lot of people in the crypto world simply over hype certain crypto technologies and coins, in order to pump it up, sell it, and make money.

Chainlink

Besides bitcoin, only other crypto I find interesting is chainlink. I’ve read all the white papers, and been following the chainlink blog for a long time. Currently the only reason that I’m still committed to bitcoin is that my gut feeling is that even though chain-link is really great, the issue is that it is going to be difficult for it to become mainstream.

First and foremost, it is difficult to explain what it is. The technology is good and great, but I don’t think the general market will understand it.

Also, the fact that there was a chainlink version two is not a good sign. Anything with a version two is probably a bad sign; same thing with Ethereum.

Also, the logo in blue is not very attractive. And the name isn’t that catchy.


Now what?

I recommend reading going infinite by Michael Lewis, it is an insanely fascinating read, if you’re interested at all about financial markets, how it is all gamed by bots etc. My first revelation reading Michael Lewis was flash boys… Learning the truth behind these hidden high frequency trading firms.

And also, I think the sign of good writer, like Michael Lewis is at the Rita’s fun entertaining and also insightful. It seems that the best way to kill two birds with one stone is simple; make it both entertaining to read, and also interesting knowledge.

Think more, walk more

My simple suggestions on living a better life:

  1. Walk 50 miles a day
  2. Maximize your direct sunlight UV exposure radiation
  3. Just build a simple home gym: Titan.fitness equipment seems fine. Ideally work out outside in the direct sun, like an ancient spartan would do.
  4. Start blogging! bluehost.com and install WordPress.org. If you’re more nerdy you could also set up WordPress with lightsail— I did this for erickimphilosophy.com and also erickimfitness.com

Now what?

The world is yours! No drugs, no alcohol, no weed… just joy, bright light, weight lifting and exercise, walks in nature .. we the new zen stoics!

EK


Start Here

Some good freebies:

  1. Ultimate beginners guide to street photography PDF
  2. Street portrait manual
  3. 100 lessons from the masters of street photography

BOOKS BY KIM >

Forward the thoughts

If you feel like you even got one fun thought here… feel free to forward this to a friend!

EK NEWS

“Greed is good” – Gordon Gecko

So it seems and appears that a lot of people seek getting really really rich, really really fast, in order to buy a bunch of stuff. For example, I think the general idea is that you want to make a ton of money, feel good, buy a Lamborghini or whatever… And then what?

Crypto, cryptocurrency, crypto technology to me is fascinating because it is new, sexy, unorthodox, and interesting.

It seems that a lot of people are interested in crypto, bitcoin etc because they want to get really rich. But the tricky thing with crypto is that essentially you are really rich on paper, but typically most crypto speculators never actually dilute or convert their crypto to US dollars, which means that crypto money is not liquid, it is locked.

Crypto is intrinsically optimistic?

Crypto to me is interesting because it is edgy, optimistic, radical, and bold. Also a bit reckless.

The general idea is that with crypto, people are seeking a new revolution, something to up and the old system. Definitely a lot of anarchy vibes here, and a lot of people who are typically distrustful of big organizations, big government, etc.

Honestly I have nothing against the government, I am very happy paying my taxes, I still consider myself a bay area, liberal, open minded, at heart. I love democracy, democratic thinking. Why? It was mostly about how I was raised, how I was supported. If I did not get all of these government aided resources, like going to UCLA as an undergraduate, I would have never been able to become who I am today.

Also, simple organizations that I am grateful for include the Boy Scouts, Boy Scouts of America. I am forever grateful to my troop, my troop leaders, who helped me become an Eagle Scout, and helped me become the citizen that I am today.

Growing up, I grew up thinking that conservatives, Republicans were the devil. Why were they so greedy, if they had so much money, why don’t they help more poor people or people in need?

Irregardless, I think the promise of crypto is a more brilliant future. A lot of people seem to disdain the volatility of crypto, but I love it. With traditional stocks, you will never see a 10X gain, a 100X gain, or even a 1000x gain. Also with crypto, you could win it all, or you could lose it all. My general strategy towards crypto and cryptocurrency speculation is this:

Only put money into crypto, assuming that it will go to zero.

Perhaps the best piece of advice that I got from Nassim Taleb in his antifragile book is the idea that to maximize your gains, better to put 90% of your money in maximally boring funds, like bonds, yield savings account etc.… it is pretty crazy even now Cindy and I have a bunch of money just locked in a simple 5% APR savings account, and we get close to $2000 a month in “passive income” interest. Then, what I did was I put 10% of our savings into crypto, maximally speculative bets, initially investing in digibyte and bitcoin, later swapping it all to chainlink, along the way getting some Dogecoin, later transferring it all 100% back into Bitcoin.

All of the gains were mental. And along the way more recently, I’ve been drawing out some money from bitcoin, $5000 USD here US$5000 there… Simply to cover up moving expenses to LA.

The zen of crypto?

Ultimately what I find interesting is that crypto, people who speculate in crypto all tend to live kind of a more monastic Zen monk lifestyle. Even this one guy that I met who first got me into chainlink, revealed to me that he was a crypto whale in chainlink; apparently he first put his life savings in it, maybe $10,000 USD or so when it was worth about $.70, and then he saw it rise all the way up to $50 USD.

It was funny, because I would just see him at the local LA fitness working out, thinking and meditating, we would engage in some lively conversation, and he just drove his mom‘s old Honda Accord, I think he later told me that he was moving to Puerto Rico or something in order to avoid taxes on his crypto or some other regulatory aspects. Apparently even Sam Bankman Fried moved his corporation to the Bahamas, in order to avoid US regulation.

So what do you want to do with your wealth?

So once you are worth $20 billion, or $150 billion or whatever … then what?

Ironically the best use of money is simply peace of mind. That means money is not really a tool or a mechanism to buy a bunch of stuff that you like, but rather, being able to live a more zen, tranquil, more focused life.

For example, I think the reason why people are so addicted to email is that people are always desiring new “opportunities”, it is predicated on the fact that somehow other people will give you an afford you new opportunities and also, does predicated on the fact that somehow new opportunities will rise in which other people give you money.

But… assuming that no human being who messages you in your email inbox will give you money… would you still be interested in working with them?

For myself personally, I have close to zero interest in money. I am more interested in new opportunities, fun, new novel experiences. The things that I am proud of, or interested in, or grateful for is all of the cool interesting and sexy opportunities that I’ve had and done. Some of the people that I met, etc.

But ultimately, is there a human being more interesting than you?

Future trends

I’m currently reading the book “Going Infinite” by Michael Lewis, which chronicles is the life of Sam Bankman Fried and FTX and I find it insanely fascinating read. It seems that the same guy isn’t really the super evil guy that a lot of people in the media make him to be; the kid seems to be like a prodigy genius, mathematical minded, who really didn’t care for money or wealth. My personal theory is that he got suckered too much into this utilitarian “effective altruism“, concept… that he misused customer funds in order to “maximize“ his abilities for effective altruism.

I think effective altruism is a bad idea. Why? First of all, I think the general idea of altruism is bad; I think it puts other people in an inferior position, which I personally find is disrespectful. I think a better thing to do instead is on a day-to-day basis, instead of donating money to charities or whatever, to help empower other human beings on a one-to-one basis.

A simple thing; whenever I go to the park with Sen, and I see all these kids running around, who don’t really seem like they get much attention or love from their parents, I try to give them a little bit of that love and attention by talking to them, entertaining them etc. Perhaps this is a more effective way to “change the world“, than anything else.


The future of crypto?

Try to think about things on a 30 year basis. That means, the simple question; in 30 years, are people going to be using crypto more or less? Or, in 30 years, is the price of bitcoin going to go up or down? It seems pretty obvious that it will go up.

Also, the notion of a “digital wallet”. The general idea is that for the future, we ain’t gonna use cash money anymore. Why? I see more and more restaurants in institutions not except paper cash money. Why not? Because it is difficult to track, and I think there are also issues with employees at restaurants stealing money it etc. Even at my mom‘s old sushi restaurant where she worked at for a long time, she later found out that one of the head managers, a guy that we thought was a super good guy… Was secretly stealing money the whole time.

I think into the future, we will see less and less of “under the table“ payments; why? Because it is not trackable.


What else?

Some personal thoughts:

First, I don’t really like Ethereum. Why? It is kind of like android; maybe it is the better technology, but it isn’t sexy, only nerds know about it and use it, it ain’t mainstream and sexy like bitcoin. Bitcoin is like Apple, having the newest iPhone, iPhone Pro etc.… Ethereum is more like android, having an ugly Google pixel or some sort of generic Samsung smartphone.

Another analogy, bitcoin is like having the Lamborghini Countach, with the scissor doors, whereas Ethereum is like having the Toyota Corolla?

Altcoins?

Don’t trust old coins, or alternative coins. Why? Everyone just wants to become the next bitcoin, but ultimately… There is too much meme culture behind alt coins, like Dogecoin and Shiba Inu.

I am very dubious that the price of these Altcoins will ever go up; it seems that a lot of people in the crypto world simply over hype certain crypto technologies and coins, in order to pump it up, sell it, and make money.

Chainlink

Besides bitcoin, only other crypto I find interesting is chainlink. I’ve read all the white papers, and been following the chainlink blog for a long time. Currently the only reason that I’m still committed to bitcoin is that my gut feeling is that even though chain-link is really great, the issue is that it is going to be difficult for it to become mainstream.

First and foremost, it is difficult to explain what it is. The technology is good and great, but I don’t think the general market will understand it.

Also, the fact that there was a chainlink version two is not a good sign. Anything with a version two is probably a bad sign; same thing with Ethereum.

Also, the logo in blue is not very attractive. And the name isn’t that catchy.


Now what?

I recommend reading going infinite by Michael Lewis, it is an insanely fascinating read, if you’re interested at all about financial markets, how it is all gamed by bots etc. My first revelation reading Michael Lewis was flash boys… Learning the truth behind these hidden high frequency trading firms.

And also, I think the sign of good writer, like Michael Lewis is at the Rita’s fun entertaining and also insightful. It seems that the best way to kill two birds with one stone is simple; make it both entertaining to read, and also interesting knowledge.

Think more, walk more

My simple suggestions on living a better life:

  1. Walk 50 miles a day
  2. Maximize your direct sunlight UV exposure radiation
  3. Just build a simple home gym: Titan.fitness equipment seems fine. Ideally work out outside in the direct sun, like an ancient spartan would do.
  4. Start blogging! bluehost.com and install WordPress.org. If you’re more nerdy you could also set up WordPress with lightsail— I did this for erickimphilosophy.com and also erickimfitness.com

Now what?

The world is yours! No drugs, no alcohol, no weed… just joy, bright light, weight lifting and exercise, walks in nature .. we the new zen stoics!

EK


Start Here

Some good freebies:

  1. Ultimate beginners guide to street photography PDF
  2. Street portrait manual
  3. 100 lessons from the masters of street photography

BOOKS BY KIM >

Forward the thoughts

If you feel like you even got one fun thought here… feel free to forward this to a friend!

EK NEWS


BARBELLS & BITCOIN.

Either have a full manual transmission car, five speed or six speed manual shifting transmission, or, or have a fully automated self driving car, or some sort of minimalistic automatic car.

Also with design aesthetics, I really really really hate automatic shifting knobs and cars. Aesthetically it is so ugly and unnecessary. Good to look at the design of Hyundai, Genesis, Acura and Honda which has gotten rid of the silly automatic shifting stock, and instead, turned it all into buttons.

“Get rid of the stalks!” – Elon Musk

I really think that Elon Musk is like Steve Jobs 4.0. By comparison he makes Steve Jobs look unambitious.

Why Elon Musk? I think what people don’t understand or appreciate is how obsessed Elon Musk is with design, design thinking, design principles. For example, his obsession with designing a Tesla without any steering wheel, shifting mechanisms, stocks, etc. In fact, Elon Musk is almost like an extreme minimalist.

What I personally love about Tesla and Tesla cars is the Spartan luxury, extreme minimalism. For example, I still marvel at the Tesla model 3; first, I’m just so happy and excited and proud and amazed that Elon Musk pulled it off. I remember before it was put into production and before I saw any on the streets… it was just a rabbit hole fantasy. Now it is live!

What I find so insanely innovative about the Tesla model 3 is the extreme simplicity, the extreme minimalism. To make the dashboard so sublimely simple is a design masterpiece.

Personally, I really dislike the Tesla model Y; my general thought is that any sort of crossover vehicle, or even sports utility vehicle is some sort of a design compromise. Even the Tesla model X is almost like a Tesla model S on steroids.

Why is it so difficult to minimize?

I think the reason why it is so difficult to minimize is that there seems to be some sort of trend or market desire for their to be new features, new products, new additions to motivate people to buy something. But, from a zen capitalism perspective, perhaps this is not a good idea.

Why? I’m more effective way to think about things is figuring out what to get rid of, what to reduce, what to delete. For example, let us never forget the pure genius of Steve Jobs getting rid of the keyboard on the smartphone, and also getting rid of all these silly ugly ports. If it wasn’t for Steve Jobs and his insane design vision, we wouldn’t have the beautiful minimalistic smart phone that we have today.

Would it have eventually happened or not?

I think a lot of people think about technology and think that it is all inevitable… given enough time resources and people… these things will magically get invented anyways. I don’t think this is actually the case. You actually need a few insane individuals to bring these things into fruition.

Once again, read Steve Jobs by Walter Isaacson and also Elon Musk by Walter Isaacson. You find that both these individuals have an insanely epic and grand life mission… is what drives them.

Idea:

Walter Isaacson should write a book or a biography on Kanye West?


Other things you can barbell in life

  1. 90% of your savings and money in boring bonds, high yield interest CD’s or high yield savings account (5%!) and 10% in insanely speculative crypto (imagine losing it all). Best advice I got from NASSIM TALEB in ANTIFRAGILE.
  2. Often, 90% of your annoyances in life come from 10% of the people in your life. Get rid of these 10%.
  3. 90% of your joy and happiness and life come from 10% of the things. Try to determine and ascertain what this 10% is.

How to think better:

  1. ZEN OF ERIC BOT
  2. ERIC KIM BOT: For photo
  3. Bitcoin Babe: speculate in crypto

Have fun with EK!

Super fun workshops in the pipeline:

  1. INTRODUCTION TO STOICISM WORKSHOP: Downtown LA, DECEMBER 2nd, 2023
  2. DOWNTOWN CULVER CITY FAMILY STREET PHOTOGRAPHY WORKSHOP, DECEMBER 16, 2023

2024

  1. CONQUER CONFIDENCE ONLINE WORKSHOP: Jan 27, 2024
  2. March 2nd: ERIC KIM CREATIVE AI & PHOTOGRAPHY WORKSHOP (New!)— Culver City, LA
  3. April 20th, 2024: SF ZEN PHOTOGRAPHY WORKSHOPNow Live!

EK WORK


HAPTIC

HAPTIC PRODUCTS >


What is EK up to?

So I just finished the book going infinite by Michael Lewis on the rise and fall of Sam Bankman Fried and FTX. Super fun and fascinating read. My personal suggestion is even if you have a tiny interest in crypto, bitcoin or whatever… It is definitely worth a read.

A quick summary is that Sam isn’t the evil villain that everyone wants him to be. He is almost like an uber genius autistic mathematical servant, who seems to just lack common sense.

Also on a positive note, I think the great upside to consider here is that if bitcoin was able to bounce back after the fall of FTX and Sam Bankman-Fried… a very bright future ahead of us in crypto. My personal price projection is I am quite certain that bitcoin will bounce back to at least $65,000 a bitcoin by next year. Therefore if you want a quick 2X profit, seems like a fun speculation. and no no no, don’t bet your house on it. Once again our financial thinking is simple:

Never put more than 10% of your life savings into anything. Irregardless of how good.

Also for funsies, a fun little essay I’ve written on the philosophy of crypto:


The Philosophy of Crypto

“Greed is good” – Gordon Gecko

So it seems and appears that a lot of people seek getting really really rich, really really fast, in order to buy a bunch of stuff. For example, I think the general idea is that you want to make a ton of money, feel good, buy a Lamborghini or whatever… And then what?

Crypto, cryptocurrency, crypto technology to me is fascinating because it is new, sexy, unorthodox, and interesting.

It seems that a lot of people are interested in crypto, bitcoin etc because they want to get really rich. But the tricky thing with crypto is that essentially you are really rich on paper, but typically most crypto speculators never actually dilute or convert their crypto to US dollars, which means that crypto money is not liquid, it is locked.

Crypto is intrinsically optimistic?

Crypto to me is interesting because it is edgy, optimistic, radical, and bold. Also a bit reckless.

The general idea is that with crypto, people are seeking a new revolution, something to up and the old system. Definitely a lot of anarchy vibes here, and a lot of people who are typically distrustful of big organizations, big government, etc.

Honestly I have nothing against the government, I am very happy paying my taxes, I still consider myself a bay area, liberal, open minded, at heart. I love democracy, democratic thinking. Why? It was mostly about how I was raised, how I was supported. If I did not get all of these government aided resources, like going to UCLA as an undergraduate, I would have never been able to become who I am today.

Also, simple organizations that I am grateful for include the Boy Scouts, Boy Scouts of America. I am forever grateful to my troop, my troop leaders, who helped me become an Eagle Scout, and helped me become the citizen that I am today.

Growing up, I grew up thinking that conservatives, Republicans were the devil. Why were they so greedy, if they had so much money, why don’t they help more poor people or people in need?

Irregardless, I think the promise of crypto is a more brilliant future. A lot of people seem to disdain the volatility of crypto, but I love it. With traditional stocks, you will never see a 10X gain, a 100X gain, or even a 1000x gain. Also with crypto, you could win it all, or you could lose it all. My general strategy towards crypto and cryptocurrency speculation is this:

Only put money into crypto, assuming that it will go to zero.

Perhaps the best piece of advice that I got from Nassim Taleb in his antifragile book is the idea that to maximize your gains, better to put 90% of your money in maximally boring funds, like bonds, yield savings account etc.… it is pretty crazy even now Cindy and I have a bunch of money just locked in a simple 5% APR savings account, and we get close to $2000 a month in “passive income” interest. Then, what I did was I put 10% of our savings into crypto, maximally speculative bets, initially investing in digibyte and bitcoin, later swapping it all to chainlink, along the way getting some Dogecoin, later transferring it all 100% back into Bitcoin.

All of the gains were mental. And along the way more recently, I’ve been drawing out some money from bitcoin, $5000 USD here US$5000 there… Simply to cover up moving expenses to LA.

The zen of crypto?

Ultimately what I find interesting is that crypto, people who speculate in crypto all tend to live kind of a more monastic Zen monk lifestyle. Even this one guy that I met who first got me into chainlink, revealed to me that he was a crypto whale in chainlink; apparently he first put his life savings in it, maybe $10,000 USD or so when it was worth about $.70, and then he saw it rise all the way up to $50 USD.

It was funny, because I would just see him at the local LA fitness working out, thinking and meditating, we would engage in some lively conversation, and he just drove his mom‘s old Honda Accord, I think he later told me that he was moving to Puerto Rico or something in order to avoid taxes on his crypto or some other regulatory aspects. Apparently even Sam Bankman Fried moved his corporation to the Bahamas, in order to avoid US regulation.

So what do you want to do with your wealth?

So once you are worth $20 billion, or $150 billion or whatever … then what?

Ironically the best use of money is simply peace of mind. That means money is not really a tool or a mechanism to buy a bunch of stuff that you like, but rather, being able to live a more zen, tranquil, more focused life.

For example, I think the reason why people are so addicted to email is that people are always desiring new “opportunities”, it is predicated on the fact that somehow other people will give you an afford you new opportunities and also, does predicated on the fact that somehow new opportunities will rise in which other people give you money.

But… assuming that no human being who messages you in your email inbox will give you money… would you still be interested in working with them?

For myself personally, I have close to zero interest in money. I am more interested in new opportunities, fun, new novel experiences. The things that I am proud of, or interested in, or grateful for is all of the cool interesting and sexy opportunities that I’ve had and done. Some of the people that I met, etc.

But ultimately, is there a human being more interesting than you?

Future trends

I’m currently reading the book “Going Infinite” by Michael Lewis, which chronicles is the life of Sam Bankman Fried and FTX and I find it insanely fascinating read. It seems that the same guy isn’t really the super evil guy that a lot of people in the media make him to be; the kid seems to be like a prodigy genius, mathematical minded, who really didn’t care for money or wealth. My personal theory is that he got suckered too much into this utilitarian “effective altruism“, concept… that he misused customer funds in order to “maximize“ his abilities for effective altruism.

I think effective altruism is a bad idea. Why? First of all, I think the general idea of altruism is bad; I think it puts other people in an inferior position, which I personally find is disrespectful. I think a better thing to do instead is on a day-to-day basis, instead of donating money to charities or whatever, to help empower other human beings on a one-to-one basis.

A simple thing; whenever I go to the park with Sen, and I see all these kids running around, who don’t really seem like they get much attention or love from their parents, I try to give them a little bit of that love and attention by talking to them, entertaining them etc. Perhaps this is a more effective way to “change the world“, than anything else.


The future of crypto?

Try to think about things on a 30 year basis. That means, the simple question; in 30 years, are people going to be using crypto more or less? Or, in 30 years, is the price of bitcoin going to go up or down? It seems pretty obvious that it will go up.

Also, the notion of a “digital wallet”. The general idea is that for the future, we ain’t gonna use cash money anymore. Why? I see more and more restaurants in institutions not except paper cash money. Why not? Because it is difficult to track, and I think there are also issues with employees at restaurants stealing money it etc. Even at my mom‘s old sushi restaurant where she worked at for a long time, she later found out that one of the head managers, a guy that we thought was a super good guy… Was secretly stealing money the whole time.

I think into the future, we will see less and less of “under the table“ payments; why? Because it is not trackable.


What else?

Some personal thoughts:

First, I don’t really like Ethereum. Why? It is kind of like android; maybe it is the better technology, but it isn’t sexy, only nerds know about it and use it, it ain’t mainstream and sexy like bitcoin. Bitcoin is like Apple, having the newest iPhone, iPhone Pro etc.… Ethereum is more like android, having an ugly Google pixel or some sort of generic Samsung smartphone.

Another analogy, bitcoin is like having the Lamborghini Countach, with the scissor doors, whereas Ethereum is like having the Toyota Corolla?

Altcoins?

Don’t trust old coins, or alternative coins. Why? Everyone just wants to become the next bitcoin, but ultimately… There is too much meme culture behind alt coins, like Dogecoin and Shiba Inu.

I am very dubious that the price of these Altcoins will ever go up; it seems that a lot of people in the crypto world simply over hype certain crypto technologies and coins, in order to pump it up, sell it, and make money.

Chainlink

Besides bitcoin, only other crypto I find interesting is chainlink. I’ve read all the white papers, and been following the chainlink blog for a long time. Currently the only reason that I’m still committed to bitcoin is that my gut feeling is that even though chain-link is really great, the issue is that it is going to be difficult for it to become mainstream.

First and foremost, it is difficult to explain what it is. The technology is good and great, but I don’t think the general market will understand it.

Also, the fact that there was a chainlink version two is not a good sign. Anything with a version two is probably a bad sign; same thing with Ethereum.

Also, the logo in blue is not very attractive. And the name isn’t that catchy.


Now what?

I recommend reading going infinite by Michael Lewis, it is an insanely fascinating read, if you’re interested at all about financial markets, how it is all gamed by bots etc. My first revelation reading Michael Lewis was flash boys… Learning the truth behind these hidden high frequency trading firms.

And also, I think the sign of good writer, like Michael Lewis is at the Rita’s fun entertaining and also insightful. It seems that the best way to kill two birds with one stone is simple; make it both entertaining to read, and also interesting knowledge.

Think more, walk more

My simple suggestions on living a better life:

  1. Walk 50 miles a day
  2. Maximize your direct sunlight UV exposure radiation
  3. Just build a simple home gym: Titan.fitness equipment seems fine. Ideally work out outside in the direct sun, like an ancient spartan would do.
  4. Start blogging! bluehost.com and install WordPress.org. If you’re more nerdy you could also set up WordPress with lightsail— I did this for erickimphilosophy.com and also erickimfitness.com

Now what?

The world is yours! No drugs, no alcohol, no weed… just joy, bright light, weight lifting and exercise, walks in nature .. we the new zen stoics!

EK


Start Here

Some good freebies:

  1. Ultimate beginners guide to street photography PDF
  2. Street portrait manual
  3. 100 lessons from the masters of street photography

BOOKS BY KIM >

Forward the thoughts

If you feel like you even got one fun thought here… feel free to forward this to a friend!

EK NEWS


The Philosophy of Crypto

“Greed is good” – Gordon Gecko

So it seems and appears that a lot of people seek getting really really rich, really really fast, in order to buy a bunch of stuff. For example, I think the general idea is that you want to make a ton of money, feel good, buy a Lamborghini or whatever… And then what?

Crypto, cryptocurrency, crypto technology to me is fascinating because it is new, sexy, unorthodox, and interesting.

It seems that a lot of people are interested in crypto, bitcoin etc because they want to get really rich. But the tricky thing with crypto is that essentially you are really rich on paper, but typically most crypto speculators never actually dilute or convert their crypto to US dollars, which means that crypto money is not liquid, it is locked.

Crypto is intrinsically optimistic?

Crypto to me is interesting because it is edgy, optimistic, radical, and bold. Also a bit reckless.

The general idea is that with crypto, people are seeking a new revolution, something to up and the old system. Definitely a lot of anarchy vibes here, and a lot of people who are typically distrustful of big organizations, big government, etc.

Honestly I have nothing against the government, I am very happy paying my taxes, I still consider myself a bay area, liberal, open minded, at heart. I love democracy, democratic thinking. Why? It was mostly about how I was raised, how I was supported. If I did not get all of these government aided resources, like going to UCLA as an undergraduate, I would have never been able to become who I am today.

Also, simple organizations that I am grateful for include the Boy Scouts, Boy Scouts of America. I am forever grateful to my troop, my troop leaders, who helped me become an Eagle Scout, and helped me become the citizen that I am today.

Growing up, I grew up thinking that conservatives, Republicans were the devil. Why were they so greedy, if they had so much money, why don’t they help more poor people or people in need?

Irregardless, I think the promise of crypto is a more brilliant future. A lot of people seem to disdain the volatility of crypto, but I love it. With traditional stocks, you will never see a 10X gain, a 100X gain, or even a 1000x gain. Also with crypto, you could win it all, or you could lose it all. My general strategy towards crypto and cryptocurrency speculation is this:

Only put money into crypto, assuming that it will go to zero.

Perhaps the best piece of advice that I got from Nassim Taleb in his antifragile book is the idea that to maximize your gains, better to put 90% of your money in maximally boring funds, like bonds, yield savings account etc.… it is pretty crazy even now Cindy and I have a bunch of money just locked in a simple 5% APR savings account, and we get close to $2000 a month in “passive income” interest. Then, what I did was I put 10% of our savings into crypto, maximally speculative bets, initially investing in digibyte and bitcoin, later swapping it all to chainlink, along the way getting some Dogecoin, later transferring it all 100% back into Bitcoin.

All of the gains were mental. And along the way more recently, I’ve been drawing out some money from bitcoin, $5000 USD here US$5000 there… Simply to cover up moving expenses to LA.

The zen of crypto?

Ultimately what I find interesting is that crypto, people who speculate in crypto all tend to live kind of a more monastic Zen monk lifestyle. Even this one guy that I met who first got me into chainlink, revealed to me that he was a crypto whale in chainlink; apparently he first put his life savings in it, maybe $10,000 USD or so when it was worth about $.70, and then he saw it rise all the way up to $50 USD. It was funny, because I would just see him at the local LA fitness working out, thinking and meditating, we engage in some lively conversation, and he just drove his mom‘s old Honda Accord, I think he later told me that he was moving to Puerto Rico or something in order to avoid taxes on his crypto or some other regulatory aspects. Apparently even Sam Bankman Fried moved his corporation to the Bahamas, in order to avoid US regulation.

So what do you want to do with your wealth?

So once you are worth $20 billion, or $150 billion or whatever … then what?

Ironically the best use of money is simply peace of mind. That means money is not really a tool or a mechanism to buy a bunch of stuff that you like, but rather, being able to live a more zen, tranquil, more focused life.

For example, I think the reason why people are so addicted to email is that people are always desiring new “opportunities”, it is predicated on the fact that somehow other people will give you an afford you new opportunities and also, does predicated on the fact that somehow new opportunities will rise in which other people give you money.

But… assuming that no human being who messages you in your email inbox will give you money… would you still be interested in working with them?

For myself personally, I have close to zero interest in money. I am more interested in new opportunities, fun, new novel experiences. The things that I am proud of, or interested in, or grateful for is all of the cool interesting and sexy opportunities that I’ve had and done. Some of the people that I met, etc.

But ultimately, is there a human being more interesting than you?

Future trends

I’m currently reading the book “Going Infinite” by Michael Lewis, which chronicles is the life of Sam Bankman Fried and FTX and I find it insanely fascinating read. It seems that the same guy isn’t really the super evil guy that a lot of people in the media make him to be; the kid seems to be like a prodigy genius, mathematical minded, who really didn’t care for money or wealth. My personal theory is that he got suckered too much into this utilitarian “effective altruism“, concept… that he misused customer funds in order to “maximize“ his abilities for effective altruism.

I think effective altruism is a bad idea. Why? First of all, I think the general idea of altruism is bad; I think it puts other people in an inferior position, which I personally find is disrespectful. I think a better thing to do instead is on a day-to-day basis, instead of donating money to charities or whatever, to help empower other human beings on a one-to-one basis.

A simple thing; whenever I go to the park with Sen, and I see all these kids running around, who don’t really seem like they get much attention or love from their parents, I try to give them a little bit of that love and attention by talking to them, entertaining them etc. Perhaps this is a more effective way to “change the world“, than anything else.


The future of crypto?

Try to think about things on a 30 year basis. That means, the simple question; in 30 years, are people going to be using crypto more or less? Or, in 30 years, is the price of bitcoin going to go up or down? It seems pretty obvious that it will go up.

Also, the notion of a “digital wallet”. The general idea is that for the future, we ain’t gonna use cash money anymore. Why? I see more and more restaurants in institutions not except paper cash money. Why not? Because it is difficult to track, and I think there are also issues with employees at restaurants stealing money it etc. Even at my mom‘s old sushi restaurant where she worked at for a long time, she later found out that one of the head managers, a guy that we thought was a super good guy… Was secretly stealing money the whole time.

I think into the future, we will see less and less of “under the table“ payments; why? Because it is not trackable.


What else?

Some personal thoughts:

First, I don’t really like Ethereum. Why? It is kind of like android; maybe it is the better technology, but it isn’t sexy, only nerds know about it and use it, it ain’t mainstream and sexy like bitcoin. Bitcoin is like Apple, having the newest iPhone, iPhone Pro etc.… Ethereum is more like android, having an ugly Google pixel or some sort of generic Samsung smartphone.

Another analogy, bitcoin is like having the Lamborghini Countach, with the scissor doors, whereas Ethereum is like having the Toyota Corolla?

Altcoins?

Don’t trust old coins, or alternative coins. Why? Everyone just wants to become the next bitcoin, but ultimately… There is too much meme culture behind alt coins, like Dogecoin and Shiba Inu.

I am very dubious that the price of these Altcoins will ever go up; it seems that a lot of people in the crypto world simply over hype certain crypto technologies and coins, in order to pump it up, sell it, and make money.

Chainlink

Besides bitcoin, only other crypto I find interesting is chain-link. I’ve read all the white papers, and been following the chain-link blog for a long time. Currently the only reason that I’m still committed to bitcoin is that my gut feeling is that even though chain-link is really great, the issue is that it is going to be difficult for it to become mainstream.

First and foremost, it is difficult to explain what it is. The technology is good and great, but I don’t think the general market will understand it.

Also, the fact that there was a chain-link version two is not a good sign. Anything with a version two is probably a bad sign; same thing with Ethereum.

Also, the logo in blue is not very attractive. And the name isn’t that catchy.

The Philosophy of Bitcoin

The general idea … anti fiat currency; the idea that true currency needs a hard cap. Hard cap of 21 million coins.

Why does this matter? The US government and FED can essentially print unlimited money; my belief a lot of inflation is triggered by when during COVID, too much “free money” was circulated into the system.

Digital gold

Is bitcoin “digital gold”? I think so.

Consider real gold … you don’t ever really touch it or use it. And there seems to be a hard cap.

Why does bitcoin matter?

I think it’s just a really fascinating concept … insanely innovative, sexy and interesting.

The icon?

Simply put I think Bitcoin is the best because the icon is orange. A very simple idea — the Bitcoin icon pops super hard compared to all of the other random coins and crypto assets.

The future?

BRC-20, ERC-20; wrapping Bitcoin with other assets and the blockchain… transforming Bitcoin into a viable NFT option.

Why does it all matter?

Philosophically speaking … it makes me ponder and meditate the notion of wealth, money etc. That all this money stuff is simply smoke and mirrors.

My interest in Bitcoin?

Via ChatGPT:

Eric Kim, known for his work in photography, has also shown a notable interest in Bitcoin and cryptocurrency. His involvement and thoughts on this topic are reflected in various ways:

  1. Personal Investment and Trading: Kim shared his experiences with Bitcoin investment and trading. He mentioned re-entering the Bitcoin market when its price dropped from $50,000 to $35,000 and then riding it back up to $50,000 oai_citation:1,How I Made Money with Crypto – ERIC KIM – EK.
  2. Philosophical Perspective: He has discussed the broader implications of cryptocurrency and its potential future impact. For example, he has speculated about the future of global currencies and the role of military power in their dominance, suggesting a deep interest in the geopolitical and economic aspects of cryptocurrency oai_citation:2,Why I Bought More Bitcoin (Again) – EK – ERIC KIM PHOTOGRAPHY.
  3. Cryptocurrency Advocacy: Kim has expressed a strong belief in the longevity and importance of Bitcoin, predicting that it will be the “last crypto standing.” This shows his advocacy for Bitcoin and his confidence in its future oai_citation:3,Crypto – ERIC KIM – EK.
  4. Reflection on Wealth and Cryptocurrency: He has also pondered the broader implications of wealth accumulation through cryptocurrency, questioning what comes after achieving financial success in this arena oai_citation:4,Once You Become a Crypto Billionaire, Then What? – ERIC KIM.
  5. Professional Intersection with Photography: Kim has explored the intersection of cryptocurrency and photography, discussing why he believes digital currencies like Bitcoin and Digibyte are the future for photographers in the digital economy oai_citation:5,BITCOIN AND CRYPTOCURRENCY FOR PHOTOGRAPHERS – ERIC KIM – Podtail.

Through these various avenues, it’s evident that Eric Kim’s interest in Bitcoin and cryptocurrency goes beyond mere financial investment. He integrates this interest with his professional field, reflects on its broader societal implications, and engages with the philosophical aspects of this innovative technology.

Bitcoin hard cap

Bitcoin’s hard cap is set at 21 million coins. This limit is an integral part of its design and philosophy, reflecting a commitment to scarcity and anti-inflationary principles. Unlike fiat currencies, which can be printed in unlimited quantities by governments, Bitcoin’s finite supply resembles gold and other precious metals. This limit is expected to be reached around the year 2140. The hard cap is also seen as a way to mimic the diminishing returns of mining precious resources, with the rewards for mining new blocks halving approximately every four years, in events known as “halvings.” This scarcity principle has been a key factor in Bitcoin’s narrative and value proposition as “digital gold.”