The Joy of Speculation

gold camera bitcoin money ERIC KIM

Why is crypto so fun? The speculation:

Speculation is hope for the future

First thing:

The reason why speculation is so fun … you got a reason to live to see how the future will manifest.

For example around 2 years ago I made a new friend (Bing) in Singapore who told me about DGB (Digibyte) and really liked the rationale (it is 40x faster than Bitcoin and 10x faster than Litecoin), and bought around $10,000 USD worth of it when it was around .2 a DGB. As of today, it is around .4 a DGB, and sold around $9,000 of the profits to buy some DOGECOIN (for fun speculation).

Also when I bought Bitcoin (around $15,000 of it 2 years ago, at $7,000 a Bitcoin) I thought it was interesting. It made sense; only a limit of 21 million Bitcoin; a more logical alternative to ‘fiat currency‘ (governments can print this at will). Anyways I was wise enough to procrastinate on looking at it, and when I checked my account it was around $25,000 a Bitcoin. I took out around $12,000 USD of profit, then ‘traded’ the value of the Bitcoin crypto ($50,000 USD worth) and bought some Chainlink (LINK) which was around $12 a LINK a few months ago, and now is worth around $22 a LINK.

For me frankly speaking, it ain’t even about the money. It is the fun, thrill, and joy of knowing that I am being a part of history, and being a part of the ride, rather than just being a commentator on cryptocurrencies from the side.

Towards a more exciting way of living.

Ever since I lived in Vietnam in 2017, I feel like I have been able to think more speculatively once I realized that I will never run out of money, due to my ability to live very frugally.

Then the simple thought:

To live speculatively is more fun, and interesting.

If COVID has taught me anything … money is overrated. The desire to accumulate more USD to buy more luxury cars, and hopefully buy a home is silly:

  1. Nobody really wants to ‘buy’ a home anymore … who likes being home all day with COVID?
  2. You don’t really got anywhere to drive or go anywhere … so why flex with an expensive luxury car? I recently bought a 2003 Subaru Legacy Outback (5 speed) at around 230,000 mile for only $800, and it runs great!

Towards a more fun way of living

When in doubt, think and live speculatively. To be frank, I don’t think of crypto as ‘investing’– it is more fun speculation about the future.

ERIC


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