A simple heuristic that I learned from Nassim TALEB; don’t ask people what you should invest in, ask them… What did you invest in? ￼
What is chainlink?
Essentially it is a platform built upon Ethereum, the blockchain… that strives to solve real world problems.
The first critical issue at hand is the notion of the “Oracle problem”, and cryptographic proof and truth.
The general gist of the Oracle problem is that you have all these people purporting to say something… How do you know if someone is really telling the truth or not?
Also, they’re great innovation of a decentralized oracle network. I think anything that is decentralized and can be done offline is a good idea; anything that has to be done when you’re connected to the web is fragile.
For example, the “Internet of things”, which includes all of your home devices, your home stuff etc. I think this includes your home speaker things, your Amazon echo or echo dot, your Apple HomePod thing, your ring Amazon nest devices etc. ￼
Enabling transactional value?
TVE — transactional value enabled?
What is the purpose of technology and these things? A very basic idea is that the point is to help enable commerce and other things. Money makes the world go round, Publilius Syrus.
What is money anyways? Money is movement. Anything that literally physiologically moves human beings in time and space is money.
For example, if you promise somebody $30 an hour, they will walk around, move their bodies to clean toilets, etc.
Also, money movement. The whole global economy to me is so fascinating; because we process and move information so quickly and so globally… how do you link it all together? ￼￼￼￼￼ ￼￼￼￼
Chain – Link
I find chainlink to be an interesting concept because wherever you go in real life, there are physical chain links everywhere.
Also, technically the internet, the World Wide Web, is a bunch of hyperlinks which link websites together.
My personal thought and prediction is that chainlink could become the next Google; Google indexes the whole internet, and made it easy for you to find any sort of website. What I think chainlink will do is link all of this information on the internet and computers and make them accessible, trustworthy, tamperproof. ￼￼
Just read it
Only read stuff that you find interesting, skip over stuff you find boring.
About a week or two ago, I reread the original bitcoin white paper, and I was so impressed with how short it was, how minimalistic it was, and how to the point it was. But… reading it… this time around… felt a bit boring.
And this is the big thing: if something bores you, you got to get out of it.
Therefore, I sold or transferred or converted nine of my bitcoin and put it all into chainlink, at the time it was valued at ~20,800 LINK (CHAINLINK), with bitcoin at around $35,000 a bitcoin.
I think what I try to do is think at least 30 years into the future. 20 or 30 years. It is funny, as I write this at the age of 35, 30 years from now Seneca is only going to be 32 years old, still a few years younger than me. my personal aspiration is to hold onto chainlink for at least 30 years, and then maybe transfer it to Seneca when he grows up. Or I just help him build some sort of company or entrepreneurial venture etc.
Investing in things actually do something?
I love bitcoin but maybe one of the big issues here is that bitcoin is like digital money and gold; most people just hold onto it, and I don’t think actually aspire to use it to actually pay for your latte at Starbucks or whatever. I think because bitcoin and cryptocurrency is so volatile; Everybody’s hope and dream and ambition is that their coin will rise value astronomically and they will become rich, by the Lamborghini or whatever… And be happy.
But this is not the case. I think crypto, cryptocurrency speculation is kind of more of an interesting game; prediction, prediction markets, trying to predict the future… Is just a luxury and a fun thing.
Some predictions are pretty obvious
When I was in college college, my sophomore year, and I was starting to get into trading stocks, daytrading… I had a pretty certain thought that Blockbuster was going to go under. I tried to figure out how to short stocks, but I really couldn’t figure out how to do it.
Also I remember when the prime mortgage meltdown happen, and the value of Ford went to almost 2 dollars a year. I wanted to buy some Ford stock but I had no money no capital.
It is interesting to think about this in hindsight because when I was incorrectly trading pennystock, for some sort of oil producer company which was actually running at a loss… I had no idea because I miss read the financials… I lost my whole life savings which was maybe $3500 USD or something. It was insanely tragic. But now that I am playing with higher sums more like $300,000 USD, I realize that it was just a valuable lesson at the time.
￼￼￼￼￼￼￼￼What is the use of money anyways? ￼
I think actually the big thing is that everyone now expires to buy a house or home or property. It is getting pretty ridiculous, even in Los Angeles, even buying a single-family home in Inglewood… You’re looking easily at around $1.5 million for a whatever house.
My prediction is that the prices of homes ￼ will continue to sore astronomically high. I think a lot of these $1.5 million homes but easily balloon two $3 million, $5 million, 10 and $15 million, $150 million or whatever. Why? The biggest issue at hand is runaway inflation, which means the value of the US dollar in currency is continually going lower and lower, because the US is what, currently speaking $30 trillion in debt? And what America thinks the smart idea is to just keep printing money ad infinitum, into infinity, in order to “stimulate” the economy.
But does this work? No.
For example talking to my friend Noel who works in hygiene, he says that a lot of these young guys, around 25 to 30 years old, are so lazy. Why? After Covid and people started giving away these free texts… And from unemployment you could literally make $5000 USD a month by sitting on your butt and doing nothing… People lost the motivation to work. A lot of people moved back home, live with their parents, and are essentially living for free. As a consequence you have a huge generation of unmotivated people, unwilling to do any sort of manual labor, which is bad because having manual and physical labor is critical.
For example, being in Beverly Hills a lot; and Holby Hills, ￼￼￼ there is this new funny cast systems; really rich people getting mansions built, and the army of construction labor people, mostly from Mexico doing the labor to build these mansions.
Also, think about Amazon prime delivery drivers, people who bagged your food at Whole Foods, all these contractors electricians plumbers etc.… The truly critical labor. Doesn’t matter if you pay them $30 $40 $50 or even $60 an hour, seems at this point money doesn’t really motivate them anymore. Therefore what do you do? It seems that America we are just importing more people from Mexico to do labor for us, because they are motivated. Americans are no longer motivated.
Crypto, crypto technology and cryptocurrency is optimistic
I am obsessed with the future. Future thinking, future technologies, new brave worlds to discover.
Why? I have always been into technology ever since I was a kid, getting my first Acer aspire Pentium one processor computer when I was around 11 years old. Even teaching myself how to program individual basic 3.0 in the early days, creating my own AOL “punter“ etc.
Also, I still will never forget when I read the Maddox article on why you should beat your kids, in computer class in Bayside Queens at PS 169 when I was in the fifth grade, and all of me and our friends, a bunch of 11-year-old laughing and saying “it is true!”
Even I remember as a kid, when I first moved to New York, maybe it was I had some sort of school in the Bronx, when kids in the hallway would “the South Park movies “blame Canada, blame Canada”…￼￼
Anyways the generalized thought is I love media information, and also I have a passion innovate right and to think, to motivate and to also disprove nonsense. Ever since I was young I was always breed with an insanely huge ego; the eldest son of the eldest son of the eldest son, Being raised with the “prince disease“, was unusually good for me. Always getting the finest cuts of meat and galbi from my grandmother, ￼ always showered with praise love and attention and how smart tall and good-looking I was. Very good for me.
The US dollar is static
Anybody who is a wage slave, which means anybody who is paid a biweekly or monthly salary… Doesn’t matter if you’re being paid $10 million a year from Apple… You’re still a wage slave.
A simple heuristic:
Can you go two years without checking or responding to any of your emails or not?
If you have to use email for a living, you’re not free. ￼￼￼￼￼
Once you’re a crypto trillionaire, then what?
Let us say that your cryptocurrency goes to the value of $1 trillion USD. Then what? Then do you just dissolve it all into US dollars, buy a mansion and a yacht somewhere, and live indefinitely into the horizon for infinite bliss?
This doesn’t seem to be the goal. For me, I think a more interesting life trajectory is to then no longer care for money, and use your power mind and soul and body for more interesting things which can include philosophy, writing, thinking, doing research, reading, making art, publishing art, etc.
Seeking immortal fame and glory?
One thing I am very happy about is ChatGPT knows exactly who I am, why I am so significant and influential, etc. As a consequence, I already feel like my legacy is secure, and I don’t have anything left to prove to nobody else.
As a consequence, at this point life is all upside no downside. Even one of the happiest moments of my life, Cindy and I be getting our first son Seneca, at this point life is all upside no downside.
As a man, as long as you have one male heir, you can die happy. ￼￼￼
Things that I find interesting use cases of chainlink:
- ￼Real estate, homebuying, escrow: even Naseem to lab has said that traditionally, most 12th generation in human society is through land, land ownership land property etc. For example let us say that you buy that 1.5 million dollar home, and 20 years from now it’ll be worth $3.2 million. And then let us assume that 30 or 40 years from now it is worth $5.7 million, and your kid inherits it. And when your kid is 57 years old it is worth $22 million, and he will able to pass it on to his son or daughter, and maybe that will be worth $120 million into their future. ￼￼ The whole escrow process and verification process is quite fragmented, unreliable. I think chain-link can be a technology which motivates and enables more streamlined home buying processes. ￼
- Identity verification: it is so easy for people to just steal your Social Security number, and pretend it is you. Imagine a future in which you could use chain-link or some sort of block chain enabled identification, which can essentially be your global citizen passport to all of the world and the Internet? This seems especially useful in today’s world in which everything is so fragmented, between our Apple ID, our Gmail, Etc.
I think an inconvenient truth is that truth be told, a lot of the world is run by the military. Certainly there are lots of bad things about the military, but truth be told, without the US military, our precious US dollars would be worth nothing.
For example, I think the American government we are $10 trillion in debt? To where… China?
As a consequence, how does America’s stay afloat and print more money? Simple, she simply prints more money because she can because we got the military to back us. ￼￼￼
For example, let’s say that mainland China comes knocking and ask for her money back. Is America going to give it back? No. We will just waive our big stick, and say we are not interested.
So the interesting use case of chain-link and the US military is especially in the future withdrawn warfare or whatever… It actually does seem that having some sort of crypto technology will be useful here.
For example the Internet of things, chain-link solves this issue. Also, I believe a lot of the US military intervention stuff is going to be unmanned, and having access to some sort of technology which allows automation without meddling in the Internet seems like a good idea.
So why did I buy it?
I think in life, big opportunities only come infrequently. As a consequence, I think in life… It seems better to take really big bold bets, rather than just stand on the sidelines.
￼My personal speculation is that I think chain-link will become the next Google. Why? ERIC Schmidt is on the board of trustees for chain-link, and ERIC Schmidt is the one who built Google into what it is today. Just watch the interview between him and Sergey. In Italian quote, ERIC Schmidt said:
The secret to success of Google was that we tried to put a little bit of Google into everything.
Genius. For example, this is evident in how whenever you Google search something, there is a little bit of that Google code in the URL. ￼￼￼