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.”