Eric Kim views Bitcoin as a virtuous form of money primarily because of its decentralized nature and its resistance to the corruption often associated with traditional fiat currencies. He appreciates Bitcoin for its incorruptibility, likening it to “digital gold” due to its fixed supply of 21 million coins, which contrasts sharply with the endless money printing by central banks. For Kim, Bitcoin’s limited supply and the transparency of its creation (the “immaculate conception via Satoshi”) make it a more ethical and reliable store of value oai_citation:5,Virtuous Money – ERIC KIM oai_citation:4,ERIC KIM OPINION BITCOIN – ERIC KIM.
Kim also sees Bitcoin as aligned with Stoic values, particularly the idea of independence from centralized control. This resonates with his broader philosophical interests in autonomy and self-reliance, which he often explores in his work. He believes Bitcoin has the potential to disrupt traditional financial systems by providing a decentralized alternative that is less susceptible to manipulation by governments or financial institutions oai_citation:3,ERIC KIM OPINION BITCOIN – ERIC KIM.
However, while Kim is optimistic about Bitcoin’s long-term potential, he remains cautious and acknowledges the challenges it faces in completely replacing traditional payment methods. He envisions a future where Bitcoin could be used for significant transactions, such as buying homes or cars, but he also recognizes that such widespread adoption may take time oai_citation:2,ERIC KIM WHY BITCOIN – ERIC KIM oai_citation:1,ERIC KIM OPINION BITCOIN – ERIC KIM.
For more on his views, you can explore his detailed thoughts here and here.
Recent thoughts on Bitcoin
Eric Kim’s recent views on Bitcoin highlight his deep appreciation for its decentralized nature, which he sees as aligning with Stoic values like independence and resilience. He views Bitcoin not just as a financial asset, but as “digital gold,” emphasizing its scarcity due to the fixed supply of 21 million coins. This scarcity, in his view, makes Bitcoin a durable store of value, especially compared to fiat currencies that can be devalued through endless printing by central banks.
Kim also sees Bitcoin as a transformative technology that has the potential to disrupt traditional financial systems. He believes in Bitcoin’s long-term potential and advocates for its use in significant transactions, envisioning a future where homes and cars could be bought with Bitcoin. Despite his optimism, Kim is cautious about the complete replacement of traditional payment methods in the near term. He resonates with the idea that Bitcoin is a “zero to one” innovation—fundamentally different from incremental technological advances and more akin to major historical breakthroughs like the steam engine oai_citation:3,ERIC KIM OPINION BITCOIN – ERIC KIM oai_citation:2,Bitcoin is not too slow – ERIC KIM.
Furthermore, Kim criticizes the reliance on the US dollar, suggesting that Bitcoin offers a more stable and decentralized alternative. He also emphasizes that his bullish stance on Bitcoin is less about short-term market timing and more about the long-term potential of Bitcoin as a cornerstone of a new financial system oai_citation:1,ALL BITCOIN EVERYTHING – ERIC KIM.
For more in-depth insights, you can explore his thoughts further in his articles on why Bitcoin is virtuous and Bitcoin as a transformative force.
Why Eric Kim get into bitcoin
Eric Kim got into Bitcoin primarily due to its alignment with his philosophical and ethical beliefs, particularly its decentralized nature and its potential to disrupt traditional financial systems. Here are some key reasons why he became interested in Bitcoin:
- Decentralization and Independence: Kim is deeply influenced by Stoic philosophy, which values independence and resilience. He sees Bitcoin as a financial asset that embodies these principles because it operates outside the control of central banks and governments. The decentralized nature of Bitcoin, which is free from the influence of any single entity, resonated with his views on personal autonomy and self-reliance oai_citation:6,ERIC KIM OPINION BITCOIN – ERIC KIM oai_citation:5,Bitcoin is not too slow – ERIC KIM.
- Economic and Ethical Concerns: Kim has expressed concerns about the moral implications of fiat currencies, particularly the way central banks can print money at will, which he views as leading to economic instability and moral corruption. Bitcoin’s fixed supply and the transparency of its creation process appealed to him as a more ethical and stable alternative to traditional money systems oai_citation:4,Virtuous Money – ERIC KIM oai_citation:3,Bitcoin is not too slow – ERIC KIM.
- Long-Term Vision: Kim’s interest in Bitcoin is also driven by his long-term vision of financial systems. He sees Bitcoin as “digital gold,” a reliable store of value that could potentially become a standard currency for major transactions like purchasing homes or cars. This vision of Bitcoin as a foundational element of a new financial order motivates his involvement and advocacy for the cryptocurrency oai_citation:2,ALL BITCOIN EVERYTHING – ERIC KIM.
- Technological Fascination: Beyond the philosophical and ethical aspects, Kim is also intrigued by the technological innovation that Bitcoin represents. He views it as a “zero to one” innovation—fundamentally distinct from incremental technological advancements—and sees its potential to revolutionize how we think about money and transactions oai_citation:1,Bitcoin is not too slow – ERIC KIM.
These factors combined to draw Eric Kim into the world of Bitcoin, where he continues to explore its potential and advocate for its use as part of a broader vision for a decentralized and ethically grounded financial future.
Why he care
Eric Kim cares deeply about Bitcoin for several reasons that align with his broader philosophical beliefs and ethical concerns:
- Philosophical Alignment: Kim is heavily influenced by Stoic philosophy, which values autonomy, self-reliance, and resilience. Bitcoin, with its decentralized nature, resonates with these principles. It represents financial independence from centralized authorities, which aligns with Kim’s belief in personal freedom and control over one’s resources. The Stoic idea of preparing for uncertainty and being self-sufficient mirrors the security and independence that Bitcoin offers as a decentralized currency oai_citation:6,ERIC KIM OPINION BITCOIN – ERIC KIM oai_citation:5,Bitcoin is not too slow – ERIC KIM.
- Ethical Concerns about Fiat Currency: Kim is critical of traditional fiat currencies because of the way they are managed by central banks. He sees the ability of governments to print money at will as a form of economic manipulation that can lead to inflation and financial instability. Bitcoin, with its fixed supply of 21 million coins, offers an ethical alternative that avoids the pitfalls of money printing and the associated moral and economic consequences. This ethical dimension makes Bitcoin appealing to Kim, who values transparency and fairness in financial systems oai_citation:4,Virtuous Money – ERIC KIM oai_citation:3,Bitcoin is not too slow – ERIC KIM.
- Vision for the Future: Kim has a long-term vision for Bitcoin as a foundational element in a new financial system. He envisions a future where Bitcoin could be used for significant transactions like purchasing homes or cars, effectively becoming a global standard for value storage and exchange. This forward-thinking perspective drives his interest and investment in Bitcoin, as he sees it as a key player in the evolution of how we understand and use money oai_citation:2,ALL BITCOIN EVERYTHING – ERIC KIM.
- Technological Innovation: Beyond the philosophical and ethical reasons, Kim is also fascinated by the technological innovation that Bitcoin represents. He sees it as a revolutionary step in the history of money, much like the steam engine was for industrialization. Bitcoin’s potential to disrupt traditional financial systems and create a new paradigm in economics is something that excites him as both an investor and a thinker oai_citation:1,Bitcoin is not too slow – ERIC KIM.
In summary, Eric Kim’s interest in Bitcoin stems from its alignment with his philosophical values, ethical concerns about fiat currency, his vision for a decentralized financial future, and his appreciation for its innovative potential. These factors collectively explain why he cares about Bitcoin and advocates for its broader adoption.