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Introduction to Bitcoin Transcript

Eric Kim: All right, we’ll get the party starting all right.
Eric Kim: Hopefully, everything is hearing.
Eric Kim: and yeah, thanks for tuning. All right, we’re gonna start all right.
Eric Kim: So the Bitcoin revolution, the revolution will be televised. Eric, him right? So, starting off.
Eric Kim: you know, what is Bitcoin? Why does it matter?
Eric Kim: So I think the 1st important critical thing is trying to consider and think you know what is Bitcoin we’ve all heard about in the news we heard about Bitcoin as being a Ponzi scheme, a pyramid scheme. And honestly, my mom has gone through her fair share of Ponzi schemes like she she got suckered by the whole Amway scam.
Eric Kim: and I think the reason why Bitcoin is so important and critical is, I essentially see at this point. Bitcoin is like the early days of the Internet. So if you go into a time machine and you could tell somebody in the past, okay, you know, in the days before email existed. Right? So okay, once one day, you know, everyone’s gonna have a supercomputer in their pocket. They’re using it to check all their bank statements. You’re going to be able to use your camera on your phone to scan your you know your checks, your
Eric Kim: your bank account balances. You can use this to send money and messages and videos to everyone on the planet. Instantly everyone would have thought you were crazy.
Eric Kim: and I think one of the biggest misconceptions about Bitcoin. So I think also construct a way to start thinking about. Bitcoin is trying to figure out what Bitcoin is. Not. So my personal opinion is, I do not think that Bitcoin is actually cryptocurrency. I think currency is the Us. Dollar, and I think one of the biggest problems about the whole field of crypto and cryptocurrency is.
Eric Kim: everyone is like a crypto anarchist, which means that they want to see the Us. Government and all the governments on the planet fail, and they can essentially live in peace and silent without interference from the Government. Yet, you know, obviously, at the end of the day, it’s nice to have public streets. It’s nice to not get robbed in the streets. And actually, I think one of the biggest misconceptions about Bitcoin is.
Eric Kim: People think that Bitcoin is trying to replace the Us. Dollar. But my personal thought is, Bitcoin is going to be a supplement to the Us. Dollar. Essentially, I thought this a long time ago that essentially Bitcoin is digital gold to hedge against inflation, which means, as our money, our Us. Dollars, or our euros, or our local currencies become devalued.
Eric Kim: The upside is, our Bitcoin will become more valuable. I think the best analogy that I got was from chairman of microstrategy mstr Michael saylor, essentially thinking that Bitcoin is is not digital currency, but digital
Eric Kim: real estate.
Eric Kim: So I think this analogy is better, because nobody’s on. You know their zillow, you know, 20 times a day, checking their home prices right? And this is my mad. Max Post. Apocalyptic perspective. Is that okay? So imagine the future where there’s, you know, essentially.
Eric Kim: there’s this like nuclear fallout. And you know.
Eric Kim: there’s no inhabitable places anywhere. And let us say, there’s only 21 million single family homes left on the planet for anybody to live. Obviously, sooner or later, you know, people are going to want somewhere to live. And so I think the best analogy, I think, is Bitcoin as digital real estate, which means that with digital real estate.
Eric Kim: You know, a lot of people like, yeah, you know, I want to quickly make money off of Bitcoin. But how do I make money off of it? It’s kind of like the early days of real estate. So if you bought Manhattan in the 16 hundreds, you know, how do you monetize it? And I still think that we’re in the very, very early days of bitcoin and institutional adoption, which means you’re going to start to see New Bitcoin products come out. So some simple thoughts. So we’ve all heard stories of Scumbag
Eric Kim: San Francisco based
Eric Kim: scumbag landlords, you know, charging an arm and a leg for their tenants, and we all hit the landlords, I think with Bitcoin we’ll become the new digital landlords, which means
Eric Kim: effectively,
Eric Kim: we will in the future be able to like rent out our Bitcoin. And you know, let’s say
Eric Kim: Let’s say we have one bitcoin right, and it’s and then I think that the personal math I like to do in my head is thinking that one Bitcoin is equivalent to one single family home. So I currently live in Los Angeles, in Culver City. It’s kind of insane. A single family home. I’ve even seen some in my neighborhood for 4.4 million dollars. The average Median household single family home is around 1.7 million dollars.
Eric Kim: So in my personal mind, where I think Bitcoin is a trillion times more valuable than physical real estate land, because you could always make more of it. It’s not a real scarcity.
Eric Kim: What that then means is.
Eric Kim: I think, my mind the price of a single family home, and the price of a Bitcoin should be piped to another. So in my mind I still think of a Bitcoin at least 1.1
Eric Kim: 1.7 2.1, maybe even 4.4 million dollars a coin. And I think this is a very
Eric Kim: It’s a very fascinating idea, because also, you know, people say, Oh, but Bitcoin is not real. Money is yeah, but like our dead, shiny rocks. Aka. Gold money either, or is fiat currency, you know pieces of paper. You can eat pieces of paper to to live. And I think one of the most interesting things I learned about the philosophy of money is that
Eric Kim: essentially all money is just existing the value of men, and it is all essentially subjective. Now, what makes Bitcoin so fascinating to me is that it’s the 1st time in human existence.
Eric Kim: All 100 trillion years we’ve been existing. Whatever is that? You had a hard cap supply of money. So, for example.
Eric Kim: people often talk about gold, right? So the issue with gold is at the time it was the least bad form of money, because it was very, very scarce. It was difficult to find. It’s difficult to mine transport. Yet there was lots of good properties of gold. It’s, you know, essentially it kind of lasts forever. Aesthetically, it looks beautiful, the nice yellow color of gold mimics that of the sun, and you know, at least back in the day, let’s say you had gold coins it could easily fit in your front pocket whatevers.
Eric Kim: But now things become a lot more difficult because we’re living in the 21st century, the 20 second century on young, you know, we would have flying car drone robo taxi, self driving car waymos. It’s like, Why are we still using an antiquated digital framework of modern day banking swift code accounts. If you’ve ever tried to send money,
Eric Kim: you know, from the Netherlands to South Korea, to Nigeria, to Lagos whatever you find that the the whole swift system is kind of like a bunch of gangster mafiosas like even my mom is currently living in South Korea. And if I would just need to send her like any sort of small amount of monies, right? It’s like crazy. It’s like, why does it. Take 3 or 4 days. Cost like me, 55 bucks, and it’s like this should be done instantly. So I think it’s a big big big revolution.
Eric Kim: So why does Bitcoin matter? It’s kind of like asking somebody why does clean water matter so
Eric Kim: one of the things I love about Michael Saylor, and I highly recommend watching all of his videos. Sailor. It’s essentially Twitter or X at Sailor or michael.com.
Eric Kim: and he uses this analogy of sewer water. So let us say, every all 8 billion people on the planet are all drinking sewer water, and people are dying of dysentery, and people are saying, I don’t get it, you know I exercise, you know. I
Eric Kim: you know I eat healthy exercise every day, but I’m still dying of dysentery. My kids are dying of dysentery, and so the whole issue is that if you’re drinking sewer water, no matter how healthy your lifestyle is, how virtuous you is. It don’t matter. You’re going to be, you know, dying of dysentery, or perpetually sick.
Eric Kim: And so, if we think about these physiological terms, and apply it to Bitcoin and money and digital capital. This becomes really fascinating because my personal thought and you know, also, I grew up in a family of poverty, poverty, meaning that I thought I was going to be homeless at least 2 or 3 times.
Eric Kim: Dad perpetually addicted to gambling with away the rent monies, and so the whole the whole ethos. I had a kid ever since I was 15. Okay, I’m going to take every single penny. I can immediately go out buying some new sneakers, you know, buy some cool clothes, and I literally had $0 in my bank account.
Eric Kim: and so I think the pernicious, vicious cycle of inflation is.
Eric Kim: you cannot blame people for not saving up capital for their future if the money itself is deflating at such a rapid pace, and so I personally think that you know Bitcoin is like giving every single person on the planet like unlimited free Fiji water, or the best alkaline hipster. Whatever water you want. Essentially giving people clean water. And
Eric Kim: a lot of people say, Yeah, but Bitcoin is not real money. It’s a okay. So I think this is a big this is a big shift for me also, personally.
Eric Kim: my personal thought is, Bitcoin is actually more important than
Eric Kim: like, okay, so my personal thought. This is all just my personal thoughts right?
Eric Kim: So we should not think about money. We should think about capital. I think capital is a lot more
Eric Kim: robust and strong as a concept. So, for example, capital comes from Cap CAP. Like upon your head. K-ap. Essentially it came from the head of oxen. So if you read the Iliad, the Odyssey essentially, every time you want to appease the gods, you have to sacrifice a hectacomb, Hecta means 100 a hundred head of oxen to appease the gods.
Eric Kim: And you know, obviously, that’s very expensive, like, can you imagine, if you know you sacrificed a hundred Lamborghinis to appease the gods, it would be quite expensive endeavor. Right?
Eric Kim: And so, capital. We all live under. Capitalism doesn’t matter. If you’re living in Europe, Africa, Asia, America, China, and also one thing that people don’t understand is, I think, what a lot of these people, maybe 4 or 5 years ago, China is going to take over. China’s not going to take over. It’s like China is dependent on America, and effectively, the Chinese Yuan. The cny is essentially effectively pegged to the Us. Dollar and the Us. Is essentially the world. Reserve currency
Eric Kim: and
Eric Kim: capital is what we seek, not money. Money, you know. Use money, like, you know. I’ll get into this little detail a little bit further. But talking about currency, so currency is like, you know, buying a Starbucks Frappuccino, or buying a in and out Burger. Right? That’s like money currency, right?
Eric Kim: Capital is essentially long storm, long term, store of value. So it’s building generational wealth. So one of my favorite songs from Kanye West is the off the grid songs that we off the grid grid grid this for my kid, kids, for when my kids, kids have kids.
Eric Kim: And I think this is also the big thing is a lot of millennials. Nowadays.
Eric Kim: I think the disincentive to have kids is
Eric Kim: people. You know, there’s so much fear mongering about the the future is gonna become, you know.
Eric Kim: boil the seas or whatever. So there’s not going to be a future. So essentially, there’s a strong sense of pessimism. But Bitcoin, to me is like solidified optimism, which means that the future is going to be glorious and great. And you know, even having Seneca right now, think about his future kids, kids, kids, or my future kids, kids, kids.
Eric Kim: It brings me so much joy. Because the simple strategy, you just keep stacking Bitcoin until you die, and then you hand it on to your kids. Your kids give it to their kids kids. It’s like, if you owned, you know, a hundred penthouses or 10 square blocks or 20 square blocks in Manhattan, on the main island. Do you ever sell that to buy a Lamborghini? No, you! That’s
Eric Kim: that’s not what one does, or liquefy it all into us dollars and brag about. How many billions of dollars you have in your bank account. Nope, that’s not the goal
Eric Kim: you want to build capital. And traditionally it’s been real estate. But once again, real estate was a good idea. In the 16 hundreds, 17 hundreds, 18 hundreds, 19 hundreds, 22 thousands. The subprime mortgage meltdown proved that, you know. Maybe it’s not always the best idea. And I think the hard thing is, people say, Yeah, but you know, real estate, you know, essentially, everyone needs somewhere to live, and it’s a
Eric Kim: historically, the value of real estate is always going to go up forever. Now people say that the tricky thing is the pace of monetary inflation is around 15%. The best thing is to either chat Gpt or Google. The M. 2 money supplies. And essentially what you will find is
Eric Kim: them to money supply is essentially a metric in which the Us. Government, or any other government on the planet, includes the euro and stuff. They keep printing more currency. And the reason why then this becomes an issue is that you have more currency in the system that means the individual value of each unit is going to go down. And actually the thing that I call this the in and out Burger. Not in and out, Burger the
Eric Kim: the shake Shack Burger incident. So me and Seneca we used to always buy a single burger, Patty, for a dollar 51 day we pop up. They say it’s 2 50, a burger. Patty, we’re like, we. What this makes no sense is like, yeah, we just increased the minimum wage to $20 an hour increase our wage. $20 an hour for fast food, and the hard thing is with
Eric Kim: minimum wage. You cannot rewind the
Eric Kim: the the hands of time. If you suddenly said that the minimum wage is only $70 an hour, there will be rights. The streets would not be not be good.
Eric Kim: so we’re all photographers, you know, street photographers, whatever. And the hard thing with digital is in our minds, digital is infinite and free. So, for example, I could take a copy of Mozart’s 5th Symphony, or whatever, as Mp. 3, file, and I could copy and distribute it a trillion times with 0 marginal costing right? And so this is where the notion of cyber becomes more interesting. And I’ll think about like, you know, cyber punk thinking about cyber truck.
Eric Kim: It’s
Eric Kim: essentially once again, mathematically, cryptographically, that the hard science and the hard math is there can never be more than 1. 21 million coins
Eric Kim: in existence come up forever. Even if you took all the quantum ultra computers on the planet, times it by 20, you still could not produce more bitcoins. It’s just not how it works right?
Eric Kim: And so
Eric Kim: I think there’s different ways. You can think about it right? So you could think about like I also could. Another fun analogy I think about is that let’s say one Bitcoin is like one cyberox, and it’s immortable, immortal, indestructible. It’ll give you life forever right. And there’s only gonna be 21 million of them in the futures. And now and so this is your chance to get one for an extreme discount. Even if I could tell you right. So once again, the single family home analogy, let’s say.
Eric Kim: let’s even say let’s say you want to buy a single family home. Let’s say it costs a million euros or whatever. Right? So if I could tell you today that you could buy a single family home for only a hundred $1,000 or a hundred €1,000 you’d be like, Wow, that’s that’s the deal of a century. That’s you’re still getting a 90% discount. And my personal thought is.
Eric Kim: Bitcoin is far more valuable than digital real estate, because in the next 2030 years, when essentially all the all the baby boomers. The Gen. Xers die off, and it’s the millennials and Gen. Z’s. And, alphas! That take over everyone’s going to not really care about physical real estate no more. It’ll be digital cyber real estate, which is Bitcoin.
Eric Kim: So my personal story, how did I get into Bitcoin? So it might seem a little bit random. It’s like, Okay, Eric, you’re super famous for photography, street photography like, how do you get to Bitcoin like? It’s like, so random, right? But actually, it’s not very random at all, because, you know, if you’ve been following me carefully, you know the whole time, I’ve always been talking about living minimalistically, frugally, Spartan lifestyle, whatever’s. And you know now that you know I’m pretty stacked with a bitcoin and microstrategy stock mstr.
Eric Kim: Funny enough, I’ve personally found that my lifestyle habits haven’t changed much, I mean, I’m a little bit more generous, maybe, like, you know, took out a friend last night to all you eat cream, barbecued
Eric Kim: paid for her bill didn’t really even flinch. And so my personal thought with Bitcoin is, I personally wanted monetary freedom, and so long story short, so I’ll never forget this moment. So I’m born 1988. Went to Uc. As undergrad my roommate at the time, Kevin. It’s our junior here’s on Reddit, and I’ll never forget we’re in our studio apartment. I think I was distracted. I was doing something else. He was like Eric, you know. He’s on some subreddit, and he’s like.
Eric Kim: Oh, Eric, this thing called Bitcoin, and you just bought a bitcoin like I bought 2 domino’s pizzas for like 10,000 bitcoins. We should just get like a hundred bucks worth of it, and just see what happened. I’m like, sounds like a scam and disregarded it, and I did the math. Now, if me and Kevin and my roommate Kevin, just bought a hundred bitcoins at the time
Eric Kim: for funsies, right? And I had a hundred bucks right? We would each be worth at least 1.2 billion dollars. Today, I’m like, man. This was like the worst mistake of my life, right? But everything has happened as it should have happened. You know. Maybe if I had become a billionaire I’d just become some degenerate, you know. Cocaine addict on some beach somewhere in in Hawaii, and then Seneca would never been born. I would have never done my photography, world travels, whatevers, and my then next reintroduction to Bitcoin was
Eric Kim: kind of more recently when moving to La. The cost of living is so expensive, and you know every I don’t know a single person who doesn’t want financial freedom. A long story short, I 1st heard about Bitcoin again, kind of earlier than when I was living in Vietnam around 2017, 2018,
Eric Kim: and at the time I didn’t really need Bitcoin, because our living expenses were so cheap. It was 320 bucks a month for a brand new studio apartment, fully furnished up, lighting in the jazz right? And even at the time, passively, the income we’re making. Let’s say it’s a thousand $2,000 a month. Let’s say it’s not even that much right, but like our whole total expenses, living expenses like maybe 6 700 bucks a month, so I had the epiphany I’m like, I’m never going to run out of money. So already, at the age of 26 in my mind, I mentally retired right
Eric Kim: and just more for funsies. I met this guy named Bing in in Singapore. Heard about this thing called Digibyte. Dgb, I don’t even think they’re around anymore. But at the time I’m like, Okay, I want to buy some bitcoins, buy some digibyte. How do I do this? And at the time Coinbase seemed like the best option, because it was the simplest, most minimalist to me it looked like the paypal for for Bitcoin and cryptocurrency. I’m either school bought about $25,000 worth of bitcoin, which, and Bitcoin was only about
Eric Kim: $7,000, $6,999 a bitcoin. So 7 k, so I bought about what? 3 and a half bitcoins at the time. For $25,000. Put some of that into digibyte, held a bitcoin or 2, and essentially saw the waves and the crashes and the doge coins and stuff like that. And essentially, I just kind of woke up to my guts and found out that Bitcoin was a real deal.
Eric Kim: I think I think you know. Also, some strange analogies is to me Bitcoin is almost like a new
Eric Kim: World economic religion, I mean, people who follow Bitcoin are like fanatic. They’re zealous about it. They follow Michael Saylor like his.
Eric Kim: you know the profit. You know the next profit of Bitcoin right? And it’s always good to invest in religions right to invest in religions, to invest in cults like the cult of Tesla, Elon, musk apple, Steve Jobs. Whatevs, right?
Eric Kim: So essentially and then, more. Now, like, you know. Obviously, I have financial independence now, and the only reason I’m teaching this workshop or sharing this information is, I almost feel like it’s my ethical imperative like. Once again, if you could have discovered Internet in the early days, or clean drinking water, I would feel that it would almost be a disservice if I did not share this information with others.
Eric Kim: So everyone’s always about like, okay, so what is the Bitcoin gonna be worth? So there’s the open source model. Michael Saylor, I think, helped create it. It’s called the Bitcoin 21 model, I think. Right?
Eric Kim: So 21 years from now his base case is that Bitcoin is going to be 13 million of Bitcoin bear case, 3 million a Bitcoin. The bull case is 49 million a Bitcoin, and no, this was in 2024 in July before Trump was announced as President, and he is ultra super pro crypto and bitcoin and also worth
Eric Kim: following, is his son Eric Trump, ironically. His name is also Eric also the funny thing. There’s a bunch of Eric’s actually in the world of Bitcoin, Eric Kim Eric Semler, a similar scientific, this other Etf guy who works for Bloomberg. His name is Eric Balconus, or something like that. And Eric Trump.
Eric Kim: And
Eric Kim: essentially, we have an all Republican trump, pro bitcoin pro crypto, President and Cabinet, whatever right? And so these were all written by Michael Saylor’s predictions before we had the most pro bitcoin
Eric Kim: government of all time. So all these numbers, I think, should be inflated. So my personal thought is, I think, for the next 4 years. Once Trump takes office, January 20, th 2025. I think this will be the craziest, best Bitcoin Bull Run of all time the next 4 years. So currently, Bitcoin’s been going up around 60% to 62% arr annual rate of return. And I think
Eric Kim: once Trump takes office, and I’m pretty sure he’s gonna buy the 1 million Bitcoins, or whatever for the strategic American Reserve.
Eric Kim: And also I think Eric Trump, his son, is committed to having Bitcoin be at least a million in Bitcoin.
Eric Kim: So let’s see. So my personal prediction, right? So I think Bitcoin will grow by at least 120% arr over the next 4 years. So let’s say, Bitcoin is worth around $100,000 right now. So by next year, let’s say it’s 250,000 the year after that, let’s say it’s 750,000, let’s say the year after that it’s like 1.2 million. So I think we’re on track to hit a million a bitcoin in 4 years about 10 x gain. So just do the mass from then.
Eric Kim: Now, people are always asking, okay, this, you know, Bitcoin reserve strategy, you know, like, how is? And why is America going to buy the Bitcoins? Right? So we’re essentially out of physical land and real estate. Now we have to go to cyberspace right?
Eric Kim: And it seems kind of silly, like something out of a sci-fi film. But the truth is, they’re currently the war we’re having with China and Russia. It’s it’s not physical war per se. It’s actually cyber war. So cyber security is the big big money maker. Even cyber penetration testing. Right? I think Gmail is trying to get like all these malicious actors tried to attack the Gmail servers like a million times a minute. Something crazy, right?
Eric Kim: And if you look at the history of America, right? So, Manhattan, 1926, the price of Manhattan. It was essentially stolen from the natives. Right? 60 guilders, right Louisiana purchase, you know, to fund Napoleon, California. Also kind of stolen from the the local Mexicans right? And also Alaska right. The the payoff was great, right, and so essentially the Bitcoin Act, the Cynthia Lummis Bill.
Eric Kim: She’s trying to get the States to buy at least a million bitcoins right? And you know even a Michael Saylor is much more aggressive. He’s like no America should at least purchase maybe 5 or 6 million bitcoins, which is 20 to 25% of the whole Bitcoin supply. And all America has to do. It’s a free trade. They just need to sell their gold and then buy Bitcoin. And in a recent interview that I was listening from Saylor.
Eric Kim: super fascinating, is like
Eric Kim: essentially what he said was the super evil genius strategy of selling America, selling her gold reserves and buying Bitcoin is that if that’s the case, comma.
Eric Kim: we demonetize our enemies.
Eric Kim: you know, capital reserves. So then suddenly, the the gold of the Russians, the Chinese, will go to 0, and then everyone’s going to rush into Bitcoin. And if America owns Bitcoin, it’s a good sign for the future. And also another big thing I want to talk about. Why does America have the best economy on the planet.
Eric Kim: So we essentially gave birth to Apple Amazon, Facebook, the magnificent 7 stocks, Netflix. And you know, people talk about China. It’s like. Okay, I don’t know a single rich mainland Chinese oligarch who doesn’t want to send their kids to the States to
Eric Kim: to Harvard or Yale or Princeton, you know, buy a nice house in Palo Alto, the Bay area, or even Vancouver. No rich mainland Chinese person actually wants to be in China, but because of capital controls, they’re kind of stuck. So once there’s going to be a mad rush to Bitcoin. That means that you, your family, your whole squad, is going to prosper now.
Eric Kim: you know, issues. My, my friend Dante had a question about storage. So
Eric Kim: I think the hard thing with storage is okay. So how do you say this?
Eric Kim: I, my, this is my personal philosophy. The reason I do not personally trust cold storage for myself or more of these self custody options is that
Eric Kim: I know that I am very forgetful, and my biggest fear is, let’s say, I forget my passcode, or whatever is right to the Bitcoins. And or let’s say, my kids, kids can forget it right? Then boom like, you’re gonna be out like a hundred 1 million dollars. Right? So that’s that’s not fun, right? And so personally, I think the easiest is to just, you know, store it on the cloud. So, using a trusted custodian, whether it be coinbase. I think fidelity has their own services now.
Eric Kim: And the you know honestly, it seems like Coinbase is probably the best option coinbase.com, or you just download your iphone ipad. Whatever right is that you could also get a link with your biometric apple id data, whether it be face id or thumbprint. Whatevs right? So this way, it just feels much more secure. So
Eric Kim: for me, I would prefer an 80 to 85% optimal thing that is kind of dummy proof rather than take the 100 secure option which, because of user error, I might fail, and something that I personally learned is
Eric Kim: in terms of technology. And all these things in between
Eric Kim: seeking the simplest, most straightforward option
Eric Kim: that is least complicated is often the best solution. And the reason I would be very, very wary of a lot of these people promoting, you know, buying their hardware wallets. Whatever’s right, everyone has a buck to make. Everyone has a bitcoin to make. Everyone wants to make a few satoshis here and there.
Eric Kim: and so they’re trying to fear monger use. Oh, you’re gonna you know, Coinbase going to get hacked. And I’m like, no, I don’t think it is. It’s like, you know, back. It’s like essentially a Us. Government, you know, it’s essentially it’s traded on the the You know the Stock Exchange. It’s a American based company. I would. I would not trust anything outside of the States.
Eric Kim: But yeah, I would say, choose now, obviously, if you’re super, you know.
Eric Kim: quant genius, autistic genius, then do all the cold storage stuff. But if in doubt, just the simplest thing is, coinbase seems to be the best. Okay, so this is kind of my free money hack. So I call this microstrategy, strategy, mstr microstrategy versus bitcoin. And okay, so it’s very, very simple. So this becomes a philosophical debate. To say it short.
Eric Kim: I think the ultimate goal is to own Bitcoin, he or she, or the entities with the owners of the most Bitcoin shall win. And so for me, philosophically, you know, let us say that you could own, you know, 20 bitcoins, or you could own 2 million dollars worth of micro strategy. Mstr. Stock. Right?
Eric Kim: 1020, 30 years from now, right?
Eric Kim: You’re going to actually outperform. You’re actually going to make more money from microstrategy stock than Bitcoin. So Bitcoin, historically, has been 60% to 62% AR annual rate of return micro strategies is almost double that 120 to 1, 25 AR. So if you actually want to maximize your returns. You just buy microstrategy stock mstr and bitcoin. Right? But the issues is, you know. Let us say that Michael Saylor gets shot. He gets killed. He
Eric Kim: you know, dies in a Cybertruck, whatever. Right? Then, it’s probably not going to be the world’s best future for microstrategy. So it’s actually much more risky. So if you want the least risky option, it’s just put all your money into Bitcoin right? And some millennial living strategies. Right? So the the simplest strategy I have. I call it the Spartan strategy. This is why I personally follow. Is you essentially try to live as minimally and frugally and sparse as you can, and just put literally 90% of your income into bitcoins right?
Eric Kim: And a free money hack I discovered. So, for example, let’s say you have $150,000 or €150,000. Right? And you know I’m not 100 sure how it works. If you’re a European. What is right. But you, you buy micro strategy stocks. So let’s say you buy, you know, 100,000 or $150,000 worth of it right? And Mstr, and you use fidelity, or robinhood, or whatever trading app you have. Right.
Eric Kim: And the strategy is simple. It’s whenever you know. Let us say the base case 150,000.
Eric Kim: Let’s say your microstrategy stock value then goes up to 200,000. Right?
Eric Kim: You sell $50,000 worth of it, and then you just transfer that to your bank account.
Eric Kim: and then your bank account is linked with your coinbase account. Then you just buy the Bitcoin right and rinse and repeat so very, very impressive over the last 3 months, I started with initial seed capital of around $150,000 in microstrategy stock
Eric Kim: off of that $150,000 right? And I haven’t even touched my principal. I yielded $242,000
Eric Kim: off of that initial 150,000 right? And also for traditional Roth, Roth, Ira retirement accounts. I put everything into microstrategy stock, and it is already like 3 x like, for example.
Eric Kim: My roth, Ira, just kind of randomly was like what $78,000, and then the course of 3 months. It’s like now, it’s like 230,000. It peaked at around 300,000. So it’s going to be a good future. And so the the very simple strategy. So let us say you’re able to get down your living expenses to let’s say
Eric Kim: you know, 5,000 bucks a month or €5,000 a month. Right?
Eric Kim: the point isn’t to just make a bunch of money and just go out and buy the Lambo. The the goal is actually to continue to live for good. If anything live more fully. People who says like, Oh, you know, you want to get rich, don’t care about money or whatever. If you’re a real real greedy, you know money, loving person. Actually, the optimal strategy is.
Eric Kim: you live, you know. You continue driving your old Toyota Prius, and just pour all of your money in Bitcoin, because really the truth is and this is my philosophical thought is, there’s almost nothing worth on the planet purchasing.
Eric Kim: Besides, Bitcoin is my philosophical thought. So and also some e even more super smart economic leverage. Right?
Eric Kim: So instead of paying an arm and a leg for rent in La or New York. Brooklyn, you just move to like Southeast Asia. Right you go. Move to Southeast Asia, live like a king, for like 300 500 bucks a month. Right? You just put all your money to Bitcoins right? So even if you had a modest savings, right, let’s say you had like $200,000, and you had microstrategy stock.
Eric Kim: let’s say every month of the month is rent is due, and the expenses are due right? You just sell a small portion of that stock, and it’s going to go up. So my thought on the next 4 years, micro strategy, assuming it’s around 2 x Bitcoin. I think Bitcoin is going to go up 120% error. I think micro strategy is going to double that 240% error. So just do the masses. At the end of every single month
Eric Kim: you make a small. Your gains go up like crazy right, and let’s say your living expenses are like under a thousand bucks, or if you, if you live in the States, 5,000 bucks, you sell X amount of monies to just support your living expenses, and you just continue to ride your gains. But ultimately my personal thought is whatever excess, money and capital you have just put it onto Bitcoin. So the micro strategy then ends up becoming the engine or the turbocharger or the cash cow. You milk it, and you shave the cream off the top, and then you buy Bitcoin with it.
Eric Kim: So I think the reason why to me Bitcoin is such a fascinating thing, and very exciting, is essentially Bitcoin is digital photography. Peter Diamandis, the ex guy. Right? You know, he talks a lot about kodak film. You know the iphone and disruption.
Eric Kim: So actually, intuitively, as photographers and digital photographers, we should actually understand. You know, this disruptive power about digital photography. So obviously, you have the hipsters with their mustaches and their flannels, you know, talking about the virtues of film photography.
Eric Kim: But the truth is, digital photography is like a quadrillion times better.
Eric Kim: And also currently, in the year 2025, incoming
Eric Kim: digital photography is actually superior to film photography. I mean.
Eric Kim: maybe in the early days of digital sucked right. But now, at this point, digital photography is far superior to any sort of film photography, and the only reason you should film in today’s world
Eric Kim: is either as like a practice to appreciate the joys of photography. So the philosophical approach.
Eric Kim: or you know, you’re trying to be some sort of like, you know, snoppy fine art photographer and overcharge money for your photos. Then you shoot film.
Eric Kim: because honestly, the the fine art market, they’re always going to overvalue film photos over digital photos, because it’s more complicated. It’s more strange, right? So in the art, in the art world, the more complicated, abstruse, and complicated, you can make your art the better. But for us.
Eric Kim: where you care about practical things, yeah, think about Bitcoin. So think about the iphone iphone pro versus your mom’s kodak Browning camera. I think the the thought is obvious. Okay.
Eric Kim: so how to start buying Bitcoin. Very simple. Just download the coinbase app, or you know if you if you don’t want to actually own Bitcoin, you just want to make a ton of money, just buy micro strategy stock Mstr, and use your traditional
Eric Kim: accounts. And I still think that this is the biggest thing is that everyone wants to become a millionaire, right?
Eric Kim: But you know what I think people want to do is
Eric Kim: they don’t want to earn like, okay, okay.
Eric Kim: people want to spend a million dollars.
Eric Kim: They don’t want to actually save and build a million dollars right? And so if you think about, you know, money and
Eric Kim: capital digital capital, I think about like Lego bricks, right? I just went to Legoland. Senecall is great. So let us say that
Eric Kim: each bitcoin, or dollar or 1 million dollars like these. Let’s say these are Lego bricks right? The goal is, you want to build your Lego Tower brick thing as tall as possible. You don’t ever want to
Eric Kim: get rid of your bricks and throw into the trash. That’s essentially what consumerism is. And this is actually another big philosophical thing I discovered is, what’s the difference between capitalism and consumerism. Consumerism is actually the exact opposite of capitalism. Capitalism is about accumulating wealth.
Eric Kim: building your capital and not spend it right. Even one of my favorite Kanye quotes is like why people make money don’t spend it. But I’d rather buy 80 gold chains go ignorant, right ignorant. And so the pernicious thing that happens in a lot of communities, especially poor communities. Right? I’ve seen this happen with my own eyes. Right?
Eric Kim: Happens to Korean people. It happens to everybody, right? Is that you know you live in a crappy apartment in K. Town with 20 other dudes. Yet you drive the brand new Bmw. And you’re not building any sort of generational wealth. Right? And so essentially, yeah, you want to build the capital and not spend it. And essentially, you want to start to intelligently leverage your capital
Eric Kim: to give to your future kids or your descendants, or whatever you want to do. Now, the hardest thing about Bitcoin is stomaching the volatility so volatile, mean. Just it goes up, it goes down, and then, like honestly for most people, it’s going to give them like 5. 100 heart attacks over right now
Eric Kim: I think of a Bitcoin kind of like nuclear energy, so
Eric Kim: nuclear energy in the untamed formed is obviously toxic could cause the next Fukushima whatevers right? But if you have a bunch of smart people, engineers, nuclear physicists working in a controlled manner, right? It’s like the greatest benefit to society, because to humanity, because essentially, you’re giving people free electricity forever. Right? And
Eric Kim: I think my personal thought is the volatility is a future not above. So the reason why Bitcoin goes up and down the sideways so much all the time, and you can have huge swings
Eric Kim: is because you could trade a 24, 7, 365 on the weekends in the evenings. Right?
Eric Kim: It still befuddles me that in the year 2024, 2025 like. Why is it that you know, after 5 pm. You know Eastern time, or on the weekend Saturday, Sunday like, why did they close the market? So what if there’s another Cuban missile crisis. It makes no sense right?
Eric Kim: And also the reason why it’s so volatile is that it’s actually the most
Eric Kim: desirable commodity on the planet. And there’s all these people with these weird Bloomberg machine terminals, whatever they are, always pegging everything to the Bitcoin. So a lot of people ask about ethereum dogecoin webs, right. I think Bitcoin is the only true.
Eric Kim: Everything else is the false prophets. Everything else is the false coins. The immaculate conception of Bitcoin and Satoshi.
Eric Kim: I think this is actually a big deal, because anything that is not Bitcoin, you know, ethereum and the like. They they need some sort of spokesperson, or, you know, individual to prop up the value right, whereas Satoshi, he invented it, he disappeared forever. Now the reason why this is such a big deal is that
Eric Kim: every other crypto thing which is not Bitcoin.
Eric Kim: It does not have a hard cap
Eric Kim: like you could print more ethereums. You could print more. Whatever tokens you cannot print more bitcoins, and that’s that’s the big thought.
Eric Kim: So. Volatility is vitality. Eric Kim. I actually didn’t say that. Sorry. That was actually Michael Saylor. I typed that in wrong. But essentially
Eric Kim: you know, volatility is vitality, and the more volatile the more energy the power you have, the more vitality you have. So once again, people think of volatility as being risk. That is actually not the case. Bitcoin is going to go up forever, but it’s going to be like an extreme roller coaster and go up down, but with extreme swings it’s extreme performance. So
Eric Kim: yeah, volatility is not risk. Volatility is just going up and down a lot, but essentially over a long enough time span. It’s going to go up forever.
Eric Kim: So I borrowed a lot of slides quite liberally from Michael Saylor. Some of these are from his recent Microsoft. Pitch. And yeah, just go. michael.com go to his presentations looking at yourself. So I’ll just make some quick points. So
Eric Kim: essentially, currently, Bitcoin is like a 2 trillion dollar asset class right? And this is also from Jesse Myers once in a species.com. And the reason why this is important is currently you know. Let us say the whole world’s economy is 900 trillion dollars, right? And
Eric Kim: what we have our eyes on is real estate. So real estate is, you know, most people don’t really just use real estate as a place to live right? Otherwise, you just rent. People use it for a long term store of value. So, for example, if you’re a really really rich family from New York City, you own, like 10 square blocks in Manhattan, and, you know, does your descendants sell, you know.
Eric Kim: a square block to buy himself a few Ferraris. No, that that would be a bad strategy. So the the tip I have for any single person trying to build intergenerational wealth. Keep it simple. Only one rule. You don’t sell the Bitcoin. If you face extreme poverty or financial distress, I don’t know. Become an Uber driver or something. Pay the bills, but don’t sell the Bitcoin.
Eric Kim: and currently I think we’re going to see is Bitcoin is just going to take over the gold market, which is 16 trillion dollars, maybe the cars and collectible art market.
Eric Kim: Now, a big thought is this is from Michael Saylor once again, is that
Eric Kim: all these assets on the planet.
Eric Kim: Some of half of it is to provide utility. Right? So, for example, you know.
Eric Kim: let’s say you need you need somewhere to live right? No so that provides utility right? But then, again, some of it is to preserve capital right? And
Eric Kim: as a 36 year old millennial nowadays. The pressures. Oh, you got to buy a single family home today, right? But the the reason I get so sus of people saying you should buy a house is that they’re like, oh, you essentially need somewhere to live. You’ll build capital. Blah! Blah, right? You don’t want to give money to land, but it’s like no, you only need one reason like you would only ever buy a single family house. If let’s say you really like having a backyard and a garage, or what is right. But it’s really not
Eric Kim: a money making thing, because homeownership is like a trillion, times more expensive than you would otherwise think, and as a consequence, with a single family home, even if the price is going up right
Eric Kim: at best, you might be breaking, even if not, you know, slowly bleeding yourself. Because, let’s say, real estate is on average, going up 10% a year, right? The money supply the inflationary. M 2 supply is 15% a year. So you’re actually kind of losing money.
Eric Kim: So the big thought is once again, you know.
Eric Kim: the optimistic thought is eventually all these long term sort of things are going to become digital capital. I still think about this, the Warren Buffett. They’re all gonna die. And then, when we, you know, take the take the mantle. What’s gonna happen the next 20 years, even if you’re 80 years old right now? 81 years old. Shout out.
Eric Kim: You know, I think I’m optimistic. We could live to be 100 20. So yeah, this is definitely the next wave. You’re not going to want to miss right? And you know, currently a lot of millennials. People like everyone wants to buy the Lambo or the Ferrari.
Eric Kim: You’re you’re going to lose the value of it in about 3 years. You want to live forever.
Eric Kim: So these are some kind of conservative growth estimates, according to Michael Saylor’s Bitcoin 24 model. So in about 21 years, and this was still pretty conservative. Right? Bitcoin is going to become a 280 trillion dollar, you know thing right? So going from 2 trillion to 200 trillion, so at least 10 x. So you’re conservatively, you’re going to see your money at least 10 x in 21 years, which is pretty cool. Right? It’s not going to take over all these other things. It might, but it might not.
Eric Kim: Now people always ask.
Eric Kim: what is Bitcoin backed by? So I did the maths right and based on what other people say, too essentially the Bitcoin network. If you took all the apple Amazon aws servers, Meta.
Eric Kim: combine them all times 20, you could still not hack the Bitcoin network in in terms of the raw power that goes into powering. Think about like 20 nuclear power reactors powering the thing right? And also people don’t understand is there’s already been 850 billion dollars of quote, real money investment thing follow Blackrock. They just recently recommended most of their
Eric Kim: you know, owners to allocate at least 2% of their portfolio into Bitcoin, which is kind of a big deal. Look about what Larry Fink says. Blackrock is like what they own. What 40 trillion dollars of assets around the planet. They’re they’re kind of a big deal. And also it’s a network effect. So you remember, in the early days of Facebook. It was only it was only university students with the Edu address were allowed to join in. Then they opened up to everybody, and the network effect of Facebook is that
Eric Kim: if you have Facebook and I have Facebook, then Facebook instantly becomes more valuable to both of us, because I can now share my photos with you, whatever’s right. But then, if your friends friends also have Facebook, it becomes much more valuable to everything. Same thing goes with facetime right. The reason why I got you know I used to be a Diehard android dude. Now I’m like all icloud everything. It makes life so much easier. You get your mom an iphone. Now you get facetime imessage. It makes life way better.
Eric Kim: And so Bitcoin is going to be the same thing as more and more people are going to continue to download Coinbase or Whatevs. And also my optimistic thought is, if Apple doesn’t want to become irrelevant, it’s I’m very certain the next 5 to 10 years. Apple is going to have their own
Eric Kim: Bitcoin storage thing in your icloud account. It makes sense right. They have apple pay. They have the apple wallet. Essentially.
Eric Kim: apple is the new bank. And so now, when they do like a you know, a 3 device authentication for your bitcoins through your iphone, your ipad and your macbook pro whatevers.
Eric Kim: It’s actually it might actually be one of the most safe ways to store your bitcoins.
Eric Kim: Also things to think about. If you’re a traditional investor
Eric Kim: so there’s this notion called the cost to capital cost to capital that Michael Saylor says a lot. I might be getting this wrong. But
Eric Kim: essentially the S. And P. 500 right?
Eric Kim: on average, is like 14 to 15% return year over year. Right? So if you’re not making at least 15% or over 15% a year, you’re essentially losing your bleeding money. So real estate gold bonds is kind of a losing bet, right? And so the magnificent 7 which all the big tech stocks 28%, a little bit better, right? But look at Bitcoin. It’s like 62% year over year. And it’s kind of the obvious bet, right?
Eric Kim: And even if you think about you know, everyone’s talking about Nvidia Tesla. You know what is right.
Eric Kim: I think the reason why the mainstream media they don’t like to talk about micro strategy is that it’s still a little bit too weird and bizarre. And it’s not as buzzworthy as AI, because, okay, people like to think of this like evil Terminator AI, the video going to take over the world and find it right. But nobody is like Bitcoin, like
Eric Kim: Bitcoin is not an android walking around 2 feet, taking over the planet right? So people actually don’t like to talk about Bitcoin. And for so long people thought that Bitcoin was a Ponzi scheme right. No one ever thought that AI was a Ponzi scheme. So the video always catches the headlines. But look at microstrates, look at the best performing stock on the human unit in the human universe
Eric Kim: over 3 x. That of Nvidia, which is already impressive, and Nvidia is already destroying Tesla by a massive margin as well. Right? So
Eric Kim: I mean? That’s that’s pretty obvious, right?
Eric Kim: Even Donald Trump watches a Nashville presentation. He quotes Michael Saylor directly, says, Never sell your Bitcoin. Apparently Eric Trump, the son of Donald Trump has known Michael Saylor for 20 years. I’m not sure if that’s true or not, but if that’s the case.
Eric Kim: I’m like a hundred percent certain that. You know, Michael Saylor essentially has the left ear of Donald Trump.
Eric Kim: And yeah, it’s it’s a it’s a very good thing.
Eric Kim: So if you want to plug and create your own models. Google, the Bitcoin, 24 model. It’s on Github
Eric Kim: plug in your own assumptions.
Eric Kim: And this is the big thing that I have my eyes set on. So currently, you know, it’s December right? And everyone’s waiting for the trump to get into the office January 20.th So this is a tricky thing. So I used to be Super Anti Donald Trump, right? Because I could care less about politics and stuff like that right? And
Eric Kim: but
Eric Kim: one Donald Trump became super super pro bitcoin. I started to listen and start watching all his interviews and looking like honestly the you know, I’m from the Bay Area like Liberal Democrat, my whole life right? And actually, I kind of realized, wow, the the left leaning media is kind of the they’re kind of the evil ones here. And Donald Trump, he seems actually kind of like a cool, nice nice nice guy, right?
Eric Kim: And the big thought is.
Eric Kim: there’s no, there’s not going to be a World war 3. What is right? And Bitcoin, under the trump administration is gonna explode, and it’s gonna be the
Eric Kim: the greatest 4 years of prosperity of all time, and this once again coming from like a super left leaning liberal. So this is a good thought so. Anyways. Let us say, you know.
Eric Kim: America leads the charge in the crypto Bitcoin revolution. Right? And yeah, I think
Eric Kim: assuming that America really wants to control the future. I think the America purchasing 6 million bitcoins is not fully out of this this planet. Right?
Eric Kim: So some thoughts on building personal family wealth.
Eric Kim: So the reason why I think this is kind of a big deal is that
Eric Kim: everyone wants to build wealth right. Everyone wants to be intelligent with their investing. It doesn’t matter if you’re a nonprofit, a charity, a church, Mother Teresa, like every single organization, will always need money. Capital. If you have an endowment, you know, for Harvard, Yale, Princeton, Stanford Brown University. Whatever even the Uc. Is right, everyone needs money and capital right.
Eric Kim: and I don’t like to think too much about the macro, because I’m not an institutional investor. I just think about myself, my family, my best friends, my squad. Right? So the goal is building personal family wealth and how to intelligently invest. So a lot of people talk about timings. Oh, when should I buy Bitcoin? Should I time it the high. Then people take out these charts and these candlesticks, which is all just witchcraft and pseudoscience don’t follow any of that.
Eric Kim: Essentially the thought is.
Eric Kim: anytime is a good time to buy Bitcoin if it’s high, low, Middle, whatever. We’re going to keep buying the top forever. So recently I bought some more Bitcoin at $100,000. Right then it dipped down to 90,000 to 88,000 hit 103,000 again, and so I’m pretty sure that in 1020 years I’m going to be buying Bitcoin at 1 million, a Bitcoin, 10 million dollars a Bitcoin, 55 million dollars a Bitcoin, whatever is right, and because if you do the simple math, just think at least 4 years ahead, right? So if I could tell you with 100 certainty that Bitcoin is going to be 1.2 million a Bitcoin
Eric Kim: in 4 years
Eric Kim: as long as you’re buying it for less than a million dollars a coin. You’re going to be in the green like it’s it’s kind of a a good bet, right? And actually, also, ironically, my personal thought is
Eric Kim: chasing gains is a good thing, but also it’s it’s a good idea to not get quote greedy in the sense of maximizing your gains. So so, for example, right like, what’s the difference between getting a 38% yield and a 32% yield like the the difference is nominal. Don’t don’t worry so much about maximization, because even a lot of what I thought my trades were bad
Eric Kim: 2 years ago ended up being right. So as investors, we have to think at least 410-20-3040 years ahead of us. So don’t worry so much about the the short term
Eric Kim: so practical and pragmatic investing strategies right? So once again, so if I had a simple blueprint, so
Eric Kim: some some simple thoughts.
Eric Kim: there’s lots of different blends. You could do this, you could. You could be super simple. Just 100 to Bitcoin, buy it on Coinbase what is right, and just keep stacking forever.
Eric Kim: 100 legitimate. That’s the Bitcoin Maximus opposed the triple, triple Maxi, the triple Maximalist approach. If you just need to pay the bills whatever, and still stack the Bitcoins. My personal suggestion is put 80% of your wealth into Bitcoin and 20% of your wealth into micro strategy Mstr stock. And once again. This is this is what you do. So let’s say, for simplicity of math. Let’s say
Eric Kim: Let’s say you have a million dollars or a hundred $1,000, or you use whatever kind of a number you want, right? So put 20% that to microstrategy stock whenever it goes up
Eric Kim: beyond the principal, sell some of that stock and put that into micro strategies. Sorry. Put that into Bitcoin, and or use that money to just pay your your bills. So once again what I personally did right?
Eric Kim: $150,000 working capital into micro strategy Mstr stock. And let’s say, when it goes from worth $150,000 to $160,000. I’ll sell $10,000 worth that stock. That $10,000 gets deposited to my checking account, which is linked to my coinbase. Then I’ll just buy $10,000 worth of bitcoin right? Or, if you need that, $10,000
Eric Kim: for living expenses. Let’s say
Eric Kim: you need $3,000 to pay your rent. You take $3,000 of that to pay your rent, and you put the other 7% of that into Bitcoin.
Eric Kim: also some other definition. What’s the difference between being an investor, a trader versus speculator?
Eric Kim: So an investor, we want to be investors. We want to think about (102) 030-4050 years ahead of us. A trader is a bunch of these, like 20 year old. High testosterone degenerates, you know, single, you know, maybe addicted drugs, or whatever right, who just want to like look cool. I made a billion dollars in a month by using all these complicated
Eric Kim: statistical models. Blah! Blah! Right? But you don’t. You don’t want to be a trader because essentially it’s
Eric Kim: nobody could time the market. Not even God could time the market right. And what a speculator is people who invest in meme coins. So a meme coin is like buying a Dogecoin or shiba Inu, that the reason why these are not you should not do this is that it is extremely dangerous. You’re going to lose all your money, and it requires
Eric Kim: a charismatic leader to support it. So Dogecoin, right? Dogecoin is essentially elon musk coin right?
Eric Kim: But if one day Elon musk tweets. Ha! Ha! Doge was just a joke all along, right. It’s not worth anything. The value of it will pump it to 0, or if once again. Elon dies in a you know a robo taxi accident. The value of dogecoin is going to go to 0, whereas if Elon Musk dies, you know Bitcoin is going to still keep going up forever. So speculator is meme coins beyond bitcoin us Bitcoiners. We’re we’re investors.
Eric Kim: So you know, somebody also asked about, you know, monetary inflation right? So there’s this thing called the M. 2 monetary supply of the the rate rate inflation.
Eric Kim: And once again you’re going to have to exceed at least 13% to 15% to
Eric Kim: not lose money. So, for example, let us say, you have a billion dollars of us dollars in your checking account. Right? You’re going to be bled to death. Right? So in a year, your 1 billion dollar is going to shrink to 750 million down to 500 million, to 350 million. And essentially, you’re going to get a point where your money is worthless.
Eric Kim: And already we see this right now. So currently, the price of real estate, single family homes is exploding. But this is my critical view. How much of that is that the value of a single family house is higher versus our Us. Dollars are just simply worthless. Right? So if you just do the same simple maths, right?
Eric Kim: So let us say that. You know, minimum wage goes from $15 an hour to $20 an hour overnight for Mcdonald’s worker. Right? That means instantly. You see, 25% inflation. So your 1 million dollars in the bank is now worth only 750
Eric Kim: $1,000. So yeah, once again. The real real rich people. They store less than 1% of their wealth in
Eric Kim: Us. Dollars in their checking account like, you’re not gonna have Jeff Bezos bragging to other people that he has 10 billion dollars of us dollars in their checking account. No, it’s it’s all going to be in you know, stocks, or, you know, real estate. And actually, ideally, Bitcoin. Cyber cyber capital.
Eric Kim: So yeah, that’s that’s essentially the the end of my presentation.

The distinctive black-and-white coat of the giant panda has puzzled scientists for decades, and while there’s no single definitive answer, research has converged on a few likely explanations rooted in the panda’s habitat, diet, and social behaviors:

1. Camouflage Across Varied Environments:

Pandas inhabit mountainous regions in China where they move through landscapes that alternate between snowy areas, dark forests, and dense foliage. The white fur on their torso, face, and neck can blend with snowy backgrounds, making it harder for predators to spot them. Meanwhile, their black limbs and ears can merge with the darker shadows of the forest and bamboo thickets. Unlike many animals that change coat colors seasonally, pandas retain a single coloration year-round. Their distinctive pattern may be an evolutionary compromise, allowing them to remain relatively inconspicuous in multiple terrains.

2. Facial Markings for Communication:

The black patches around a panda’s eyes may serve a communicative function. These dark “eye spots” could help pandas recognize each other at close range, distinguishing individuals and conveying social cues. In addition, facial markings may help signal aggression or intention to other pandas. For example, a direct stare might be more noticeable and meaningful when framed by those bold patches, aiding in non-verbal communication.

3. Diet and Energy Constraints:

Pandas eat almost exclusively bamboo, which is nutrient-poor and requires them to consume large quantities. As a result, pandas have limited energy to devote to activities like seasonal coat changes. Maintaining a single year-round coat coloration that works under various conditions may be more efficient and less energetically costly than growing and shedding different types of pelage with the changing seasons.

Taken together, these factors suggest that the giant panda’s black-and-white coloration evolved to maximize year-round camouflage, enhance communication, and reduce the energy costs associated with maintaining different coats, all of which help this unique species survive in its specialized ecological niche.

.

Pandas are black and white because their coloration serves multiple purposes that are crucial for their survival and lifestyle:

1. Camouflage:

• The white fur helps pandas blend into snowy environments, while the black fur on their legs, shoulders, and around their eyes allows them to camouflage in shaded, forested areas. This helps protect them from predators in their natural habitat.

2. Communication:

• The black patches around their eyes and ears may play a role in communication. The bold markings make their facial expressions more distinct, allowing pandas to signal aggression or recognition to other pandas.

3. Thermal Regulation:

• The contrasting colors might also help with temperature regulation. The dark fur absorbs heat in colder weather, while the white fur reflects sunlight, keeping them cool in warmer conditions.

4. Predator Confusion:

• The stark black-and-white pattern may confuse predators by breaking up their outline and making them harder to recognize as prey, especially in the dappled light of their bamboo forest habitats.

This unique coloration evolved to help pandas survive in their environment, where bamboo forests and high-altitude terrains create challenging conditions.

It shook out Al all tourists

Now or never

Later is never

,

Apple is a scam?

She charges you exorbitant prices for her iPhones, and then tries to upsell you with inexpensive AppleCare package, and then she tries to sell you stupid cases, stupid screen protectors etc., wonder the reality is it should already be doing this safeguard itself.

And then, it makes you realize that she has to do her iCloud upgrades, because you run out of storage. Then she tries to get you to upgrade her services to buy all these Apple prime subscriptions?

.

Think the physiology of your kid 

Follow your gut, you are always right

I like being around other people !

The point isn’t to be in your car at the point is that the simplest card just go to the mall

Fast like a race car

Free, freedom, zero anxiety?

Autistic — super focused ?

,

Live, living a glamorous epic glitzy life ?


Perhaps there is a virtue to touring, tourism?

Electricity perpetual perpetual machine?

My fascination was for self driving cars?

Spoil your kids with experiences

Creative or not ?

Build! Master builder

.

Potential, achieve your potential? Help your kids also achieve their potential?

I guess once you’re rich no longer have to make money, you could just be fully present?

Rudder.

All red everything?

,

Strong impetus , strong motive?

Tenacity , think tenacity– this is the purpose of muscles?

Joust.

Distance.

My favorite things are the simple and the classic ?

The world in miniature 

Lego meditation

Share holder

Bitcoin is science money

How to live

MicroStrategy (MSTR) is set to join the Nasdaq-100 Index on December 23, 2024, following a significant surge in its stock price driven by substantial Bitcoin investments.

The Nasdaq-100 Index comprises 100 of the largest non-financial companies listed on the Nasdaq stock exchange. Inclusion in this index means that exchange-traded funds (ETFs) tracking the Nasdaq-100, such as the Invesco QQQ Trust (QQQ), will need to incorporate MicroStrategy’s stock into their portfolios. This inclusion is expected to lead to increased demand for MSTR shares, potentially boosting its stock price.

MicroStrategy’s significant Bitcoin holdings, approximately 423,650 bitcoins valued at around $42.43 billion, have been a major factor in its stock performance. The company’s strategy of leveraging its stock and bonds to invest in Bitcoin has attracted attention, though it carries associated risks.

In summary, MicroStrategy’s inclusion in the Nasdaq-100 Index will lead to its addition to ETFs like QQQ, potentially increasing demand for its shares and impacting its stock price.

Think natural, animal skins and fabrics?

When is it wise to be conservative? 

Gremlins?

.

Protect your bloodline

Immortal, indestructible!

I hate haters ,,, good people are often haters?

How to change the world

First, start off by hating nothing

Be different

.

Don’t abdicate capital

Awful

They want a capital gain! ***

Taxable distribution

Everyone wants the number to go up!

Don’t issue dividend

Growth company ***

Not sure how to grow?

I’m a growth person!

Trifurcate?

Signal weakness insecurity confusion?

Buy different

Don’t surrender the capital

.
$13 a share, now $400?

40x gain in 4 years?

$80M

.

$10,000 a coin

10x gain

.

Valued on expectations

Think compression & leverage

Real estate rental project company

Renew

Software as service long term lease

3 year contracts

Price escalator –>

How does customer feel about it?

Antitrust?

Conventional strategy, software

Apple Prime

Road to serfdom .. Fiat strategy, for company

I only live in expectations

Path to prosperity is bitcoin

Think differently

Add $150 a share

Don’t destroy the capital!

Loan to value

Double the value of the company

50% expectations

I’ll be buying the top forever!

$10M a coin, $10b a day

We are the bridge

Bitcoin backed securities

Inefficient energy form
Inefficient portfolio

Keep growing every year forever

$500T asset class

Risk premium?

Arbitrage opportunity

Don’t trust ugly people —

.

I’m focused on 21 years

The next 21 year model!

.

21 months too short

.1M of Bitcoin

Man up! ***

It is capital not currency! ***

Not digital currency!

What is Bitcoin NOT?

Money –> legal tender currency and store of value

Capital not currency

Digital currency is tether!

Murray Rothsbard, money and banking in US

Durrant history of the world

17 different directions . Monetary history

Ideas are tropes

Issue the continental

1660, puritans

Time will tell

Jerome Powell said bitcoin does not compete with the dollar, it competes with gold! ***

Gold is capital asset

Garbage 7/7

.

You do not sell your Bitcoin *

Pay me in a building !

Gold settle,ent network failed

20T us sovereign debt

The burden of proof

Forcible mutation that leads to monstrosity

Agenda?

Don’t trust anarchists

 just don’t break it!

Harvey

Ignore them

Don’t flinch

10x

More to lose or gain?

.

Poorly engineered ?

always in the sun!

.

When is it wise to be conservative?

21B, 21B

.

The worlds best use of proceeds

Commodity > SP, higher volatility and ARR

15/15 vs 60/60

Put 100% of your balance sheet on it

Return infinite equity ***–> as long as more than S&P 500!

Cost to capital, 15%, SP 500

Crypto reactor fueled by Bitcoin

Turning on nuclear reactor, horseless carriage put in engine

Pursue a bitcoin treasury strategy

60-80%

Favorable regime for taxes, pro crypto pro bitcoin anti regulation

4 year, $10b

Week, 1.5b$ in a week!

15,000 bitcoins mined in November

Capital markets aligned

100b$ options . Liquidity, #3 stock after Tesla and Nvidia

Jerome Powell

0% coupon, up 55 points, raise 1.75b$, twice as big, $3b by finished

Ahead of schedule,, lot of unknowns

.

October 30th,,, not sure how enthusiastic?

Convertible bond market, preferred stocks. Also fixed income others —

Form of energy, potential or kinetic energy

Train 60 mph, 60rpm flywheel

Driveshaft

Stepping it up, stepping it down

15% arr, 5 vol no risk, 10x over collateralized

15/15%, 75% of Bitcoin away, create $100T market

Cash coupon

Capital gain, over time

25% of Bitcoin

15% arr, 5 vol, 3x sharpe ratio of S&P index.

30/30…

30% ARR,

Do you want as coupon or conversion? 75%

Bonds, convertible bonds MSTR outperform bitcoin, with downside protection,,, they’re a bond!

Strip the volatility and risk, embed senior 10% traunch,

Mainstream normie hate it

$100B open interest … when strip volatility?

.

Open interest is $5m ,,,

We are $98b open interest

Don’t strip away volatility, don’t pour water on the flame!

Pour gasoline on the flame! ***

Channel and compress and turbocharge the engine, don’t turn it out!

Don’t take it out!

.

Turbo, turbocharge yourself

$100T, equity

QQQ

.

Convertible arbitragers

Give people what they want!

.

Capital triple amplifier

Compression, lever leverage

100% bitcoin

.

Virtuous positive feedback loop,

Don’t break the machine!

100% pure, homogenous gasoline reactor

Engineer the reactor

Engineer different

Any amount will do, just choose one.

Don’t be bi-metalism!

Bitcoin crypto reactor

Bitcoin is the fuel, crypto is the reactor

150% bitcoin

System dynamics

Burden, to intervenor

Tough love

.

Transparent

Not that interesting

.

Also,,, don’t do nothing or obey or buy or follow something you don’t desire?

Big epiphany for me and myself — there’s actually not much if anything I desire on this planet? Besides perhaps bitcoin?

Often new things and new technologies have many hidden fragilities which only reveal them after about a year of use? For example our new “slim” Dyson? The neck is already broken?

When to stick to old protocols? When it ain’t broken, and also when what you’re already doing doesn’t cause you pain? Sometimes the new concept, the new technique the new approach can actually can you a *NEW* type of unforeseen pain?

Physiological physical pain?

Via negativa health

Unstrict or non-strict people and parents are not respectable?

“Now we have a White House that is embracing Digital Assets. We expect something around $250,000 for #Bitcoin in 2025.” –

@FundStrat

Mortgages, 30 or 40 year mortgages for owning a bitcoin(s)?

Saving Time > Convenience

RAIDERS.

Just design it yourself!

,

Your job, not your job?

 do you really care about other people that much?

The will to reduce

 exception, exceptional, anti-, different?

,

Energy efficiencies; something that people don’t talk about is the efficiency of riding the bus or the train, the metro because when you don’t have to drive and you’re not forced to sit, but that then means is that you actually can conserve more of your energy and physiological power?

The will to survive ? 

 we’re happier when we’re around other people

Bet on the jockey and the horse? 
And the track, and the game?

Bitcoin is a game you could actually win! 

So I thought the other day; now that I live in LA, Culver City… Life is different now than I was living in the suburbs of Orange County, like a two minute drive to my local gym etc.

And also, the tricky thing is that with the winter months, things are also different.

I recall that in the early mornings, when I was living in the OC, I would just put on my daily gym attire, drive to the gym, immediately hit the hot sauna wore myself up. But now things are a little bit trickier now that when I wake up in the morning, sometimes ridiculously early, the apartment is still cold, not a super strong impetus for me to go outside. 

Also, now where I live, is practically like 100%, 100 out of 100 walkability score. Here in Culver City, I’m living a walker’s paradise!

Now the reason why this is so important is that I’m kind of finally starting to figure out how critical it is for me to change my mindset, my approach, my protocol.

Also, now that Cindy is a century working full-time, and more often than not my time is a little more limited, the way I approach fitness is obviously changing and must change.

Recent innovations I’m happy for is after making a ton of money off of Microstrategy, buying two 50kg calibrated steel plates, which is about 110 pounds a plate.  it has been super super fun and cool because even lifting it up to rack it unto the barbell is a workout in itself! Also, have the time I’m just walking around town with Seneca, this might be the most walking I’ve ever done in my life, and all his arm carry him, and I’ve been noticing that also, my biceps are becoming a lot more buff and impressive. Even to myself!

Switching up the protocol

Even another weird thing is that as of late, I find that going on my walks my morning walks I was actually more important than lifting weights? I suppose the way I am able to double dip is that I’m like almost always wearing my 60pound weight vest, All day every day. 

So first, with exercise and fitness, I guess it is critical for me to change my mindset, and also my protocol on what to do, why I do it etc.

Also, what I think is so paradigm shattering with bitcoin is that now that we are all sons of bitcoin (Michael Saylor, @saylor tweet), we also have to change and replace and recapitalize on bitcoin as our base, concrete, bedrock foundation.

For example, if you’re building cyber Manhattan for the 22nd century, you don’t build it on bedrock on the main island. If you’re going to build in cyberspace, you need a totally new protocol, a totally new paradigm mindset.

Stick shift?

Every single car that I have purchased in my adult life has always been a stick shift Manual transmission car, five speed. And also my pride is I have never spent more than $3000 USD on a car in my whole adult life and I’m 36 years old, and the first bitcoin blogger photographer street photography millionaire that I know. Maybe the only one in the universe that was self-made?

How do you know if your self-made or not? If you practically had a single mom, who waited tables, clean houses, worked as a cashier, and also had a dad who would gamble away the rent money, threatening your mom with physical violence, and also mental violence if she didn’t cough up the rent money.

Now consider how pernicious this is; the real critical issue here is that not only are you trying to fight to stay afloat, but you’re also actively having somebody unplugging the hot water bath water.

I think this is also something that people who don’t understand growing up in a family of economic peril; once again it’s not just having two hard-working parents, struggling to work to minimum wage jobs just to pay the rent and expenses and put food on table; no, it is one mom working full-time While having a father who did not work ever since you were two years old, while actively gambling away the rent money. Double bad.

2025

We live in a really bizarre time, and I bet you it’s going to just get more and more bizarre. Once Donald Trump takes office January 20, 2025… You’ll see a huge paradigm shift.

First, obviously this will be good for us bitcoiners because bitcoin is going to go through the roof! Just look at the riveting talk that ERIC Trump did at the bitcoin conference in Abu Dhabi, in essentially which he says that he is confident that bitcoin is going to get to $1 million a coin.

The reason why I feel like this is very very important to watch is that because he is a son of the incoming president, he will actually do everything in his power to make sure this manifested as a reality. 

Funny enough, I didn’t even know that Donald Trump had a son named Eric Trump, I guess all guys whose first name is ERIC our geniuses! And also ERIC Semler of similar scientific, another ERIC! And also another ERIC Balchanus, like one of the head ETF guys at Bloomberg, his name is also ERIC? We gotta make an ERIC squad! 

Why new protocols are so difficult

Once again, if you’ve been riding a horse and buggy whole life, and I pull up in a matte black cyber truck, what will be your reaction? Your mind will absolutely be blown, your jaw will drop, you’re going to think that the person in the cyber truck is like some sort of alien god. Even a fully rational person will probably drop on his knees, and start repenting for his sins whatever.

Or, let us say that I drop you into the 1950s, and selling that you pull up with a brand new iPhone Pro, and you go to the head of Kodak and telling them that you came from the future and that this iPhone thing will totally disrupt their business. What would their reaction be?

Why photographers and digital photographers should intuitively understand bitcoin

We are all passionate about photography yet for a lot of us, we make our money elsewhere. But if you were like an investor in Kodak, and I came from the future and I told you that this thing would come along and totally destroy your business and you’ll go broke, unless you shift and embrace this new economic protocol and innovation, isn’t the wise thing to adopt the change? 

Even Peter Diamandis said “Bitcoin is digital photography”. or, “bitcoin is the iPhone”. 

You know this often tied phrase that a lot of these skinny fat bearded flannel wearing salty loser say “Humph! Everyone thinks that they’re a photographer now!” (Yes the truth is everyone is a guitar for now, and this is a good thing.)

I wonder if the same sentiment exist amongst acid fund managers “with bitcoin, everyone thinks that they’re an investor now!”

I think all of us, if you’ve been following me since the beginning, don’t you know that we have all always been anti-establishment, anti-“the man“,– if so, shouldn’t you embrace bitcoin with open arms?

We the new goats!

I think the reason why paradigm shifts are so difficult to understand and embrace is that once again this is a big deal. For example, the paradigm shift of bitcoin is like if you suddenly came up to Michael Jordan, and told him that the whole time he’s been playing the game wrong, or that they totally changed the rules of the game, certainly wouldn’t he be confused, and upset?

Embracing the new is hard

One thing I learned from the ERIC Trump talk is that apparently, the protocol for email was around for like 25 years before anyone actually really decided to use it. And now for most of us, it might be the most critical way to communicate, and magically teleport messages all across the planet.

I think for so long we’ve been stuck in this kind of fatalist mindset about the whole banking system, financial system whatever; now that we are living the year 2024, the year 2025, come on… Why are the banks closed after like 5 PM Eastern time? And why are the traditional stock markets closed on Saturdays and Sundays, when we all have these super Ultramega computers that could take us to Mars and back?

Like let us consider you know the story when they say that apparently, the computers that got us to the moon were like half of the computing power of like a TI 84 calculator? Isn’t that the same error in which the operating protocols for the NASDAQ stock exchange were invented?

Also, during those times, America was the only center of the universe, Singapore wasn’t really on the global stage, nor Dubai or any of these other global super power nations. As a consequence, everything revolved either around New York Manhattan time, or London time. So being able to operate on the protocol of these random arbitrary American numbers were common.

Now that once again, we are a global planet, don’t we need some sort of global capital token that could instantaneously trade hands, 24 seven, 365, all day every day, with no delay no lag no friction, no annoying middleman?

the middle mans feel at risk? 

Let us say that your job is to manage other people’s money, and that your well-being and money comes from other people being dependent on you, your financial services etc., if that is the case, wouldn’t you be interested to have other people always be dependent on you?

You don’t need no middleman

I almost feel that middleman, are like the biggest parasites to society.

For example, kind of a low-key super greedy bad thing, in their early days of text messaging, SMS messaging, apparently it cost nothing for these huge telecommunications platforms to transfer and facilitate a text message exchange. Like it was already running on the same rails, and that to send a text message did not cost the carrier $.10 or whatever, it was free for them but they charged you an arm and a leg. 

Similarly speaking, do you remember in the early days of smart phones, you’re forced to sign some sort of arbitrary to your contract, before actually signing up for a phone plan? This was like some terrible mafioso thing.

I almost wonder, maybe, now, starting next year, people are finally starting to wake up to their senses and realize how traditional banking is such a scam.

Also other arbitrary things, like… You need to maintain a certain bank balance for the checking account to be free, and also these pernicious overdraft fees, late fees etc.? Do you remember like the early days of blockbuster?

Even apparently, when I was listening to an interview with ERIC Semler, when he met the executive a blockbuster and told him that Netflix was almost an existential threat to them… Most of these executives at Blockbuster just laughed directly in their faces, and told them to leave. Where is blockbuster today?

I almost feel like this is going to happen to everything. Everything is going to be disrupted, whether we like it or not. The intelligent strategy is to accept embrace and integrate these new protocols.

For example, obviously the Internet as we know it today is already running the planet. Imagine if 20 years ago your company did not embrace the Internet, where would you be today?

What is bitcoin?

, Bitcoin is like the new Internet, except in some ways it is far more valuable because it actually deals with money. Why is this so important? The reason why this is so important is that money is actually more important than technology, or money might be the most important technology. 

For example, let me give you example; obviously I love ChatGPT and AI, but I could live without it. Things will be less optimal, but still, I could live life without ChatGPT. But could you live life without money? No.

And honestly at this point, you need the Internet. If you don’t have access to Wi-Fi, at home, at the local coffee shop, if you don’t have 4G or 5G cellular data on your phone, you’re absolutely screwed.

How was wolverine made?

This is an interesting analogy, I think the way that they made wolverine is that they replaced his entire skeleton with adamantine steel. A very painful process. But this made him invincible pretty much.

They call him weapon X.

Maybe the process of bitcoin is like the same thing, if somebody took out your whole exoskeleton your bones everything your ligaments, and you’re forced to replace it with some sort of new add a man times steel, even if it did make you immortal, certainly you would not like the process very much because it will be excruciatingly painful.

Who doesn’t want to live forever?

Everyone must die, you must die. But if I could promise you immortality, in 100 perfect health and vigor and happiness and joy, wouldn’t you take it? Probably.

Bitcoin is like heaven on earth?

So what is the difference between bitcoin and every other asset? Bitcoin will last forever like 100,000 years, 1 million years, 100 million years etc. You’re shabby real estate might last 30, 40 years?

Think long

Apparently Jeff Bezos invested in this thing called like the 100,000 year clock, which will apparently run and work for like 100,000 years. And the reason why this is a critical thing is that course is us to think about the long-term.

Even the reason why I think Jeff Bezos might be one of the most underrated entrepreneurs of all time is that he really really really played the long game with Amazon, pretty much projecting the dominance of Amazon, over the course of 20-30 years. 

So in the early days of Amazon, when Jeff Bezos was still transporting books to the local post office in his Honda accord, and I came from the future and I told you that one day, he in Amazon would send you run the planet, what would you have told me? You would’ve probably laughed in my face.

Or, that Apple, in the early days of Apple, like when they’ll still Wozniak and Steve Jobs in their garage building Apple two computer computers that once again, they would be like a $3 trillion company, what would you have said to me? You would’ve thought I was a fool!

But then again, once again, to think about the future, 20 or 30 years is not only difficult, but requires grand creativity, almost like a detachment from modern reality. If you are too stuck in the present, you’ll never become anything grand.

buy big become big

I was reading some newspaper article or television thing about how after the bitcoin boom, like the number of bitcoin millionaires, or people with over X amount of bitcoin in their wallet has exploded.

What are my bitcoin price projections? Considering that we’re going to have non-Trump the first bitcoin president, and his blood son, ERIC Trump in his left ear, we’re definitely going to see the bitcoin act pass, the senator Cynthia Lummis act, in which America will probably purchase at least 1 million bitcoins. If and when this happens, you’re definitely going to see a mad rush and explosion in the value of bitcoin.

Why? Like Michael Saylor said, if you were an evil genius, and you were America, the smart strategy is to sell all of your gold and demonetized and deepen the capital assets of your enemy, Russia and China, and all the other BRICS nations, because then, assuming if America owns like 25% of the bitcoin network, then suddenly you get this insanely phenomenal best trade of all time:

1. You essentially demonetize “debank” the assets of China Russia etc., which still stores a lot of their wealth in gold.
2. You get a free trade, you don’t have to print more US dollars to purchase more bitcoins, you just use already existing gold reserves.
3. You essentially make your country, America, the center of the economic planet, your conquer cyberspace, which is the next frontier, and you essentially control it forever.
4. You then back the US dollar stable coin with your bitcoin reserves, and then you make the US dollar coin the dominant coin of the planet.

Isn’t this obvious?

What is the American ethos?

Bet big, dominate, control it all!

ERIC

Humans economize time

Economize Time how to economize your time

Human time

Resources need to be produced before consumed

The effort we go into to find such resources

“Proven reserves”

Insane material abundance?

.

Capitalize on Bitcoin

In modern-day times we are suckered into thinking that always being super super responsive and attentive is a virtue. But I say, when in doubt, delay is often the wiser approach.

Being or becoming beautiful is difficult — a privilege.

The Privilege of Beauty

We must labor to be beautiful.

Abu Dhabi

Developers greatest dream

Dream it you can build it!

The Bitcoin crypto president

Make America the crypto capital of the world

.

Hospitality

The future of finance

.

You’re going to have the most pro crypto president

Digital revolution

Embrace crypto

$100k!

Pops

Together …

Pledge to add crypto to the US treasury

Tax free crypto?

I truly believe

.

Bitcoin is a fundamental shift!

.

I want to safeguard treasury transfer funds pay vendors, collect rents —

Revolution is already here

.

Most people can’t see it

$1M at Least a coin

1970 email

Arpanet

25 years ,,, 1995 email

.

1992 text message . Dec 1992,

22B texts a day

Slow to adapt to new technology

How’s your portfolio doing now?

.

Real estate family

Hard assets

Trump Chicago

Bhurj khalifa

.

Bedrock tangible

Has energy! Digital asset revolutionary!

Politics weaponize, banking weaponize.

.

Cancelled

Grow wealth without trusting

.

Blockchain, more transparent new frontier

The institutions are petrified!

.

National treasurer

.

Look behind the curtain! How manipulating

Scarce 21M

.

Change supply dynamics

Hard limit

.

Wait

.

Not tied to geography instantly

REIT

18 months

.

Disrupt traditional banking systems

.

Lead the charge

.

6am call

.

People who got it wrong got it wrong?

.

Congratulations Bitcoin!

.

Our best days are ahead!

.

the Trump family loves you!

Podcast

Quite a radical idea —

Audio

Free money! Assuming you never had to pay property taxes on a single-family home, you’re technically getting like a free $1500 check a month! Being an owner versus a consumer shopper? Bitcoin, monthly installment plan? With bitcoin you kinda have to rewrite all the rules ? Create your own new metrics 

bitcoin fanatic

Beef & bitcoin 

The dollar is depreciating bitcoin is appreciating

Photography is infinite 

,

Entertainment, superficial entertainment and amusement?

Hide the body shape? Or reveal it?

I suppose what is interesting about a really really dark matte black wrap, is that you could hide ugly body shapes on cars?

Aesthetics

Aesthetics matter more than race nationality whatever?

Life is for being outside!

Free money! Assuming you never had to pay property taxes on a single-family home, you’re technically getting like a free $1500 check a month!

Being an owner versus a consumer shopper?

Bitcoin, monthly installment plan?

With bitcoin you kinda have to rewrite all the rules ?

Create your own new metrics 

Utility, utility yield

Tyrants ?

It is OK to not like or hate

Vitriol ?

Indignant, indignation porn?

Marginal utility !***

New attitudes

Law of diminishing marginal utility

Specific joy declines with each extra use

Valuation by the least valuable use

Marginal next utility

The Ultimate Resource

Temporal

.

Career risk

Create a new permission structure

Drawdown

Bitcoin & the military?

Bitcoin for Military

.

Sell it all!

Demonetize gold

More intelligent to demonetize your enemy’s network! ***

Strategic.

Bigger world & life ambitions!

We need a new world enemy?

Manifest Destiny

How to manifest your destiny?

.

20T to 4T–> demonetize gold

Devalue assets of gold

25% of bitcoin network Forever

Demonetize your real estate

.

Bonds

Safe haven

Evil Genius strategy

$100T in heart beat

Dump gold, buy $6 million bitcoin,

Crappy assets,

Define US dollar custodian. Audited.

$150B stable coin to trillion to 8-16T$, USD stable coin

$10-20$ T, sovereign debt for US

adding back demand to do stable coin

Replaces CNY, ruble, replaces euro! ***

US world reserve currency

Just merge into US dollar

There isn’t a stronger currency

CNY is pegged to the dollar

Implicit peg, euro,

Collapsing currency

.

$10T dollar standard currency, stable coins

.

Think 22nd century!

.

16th century Spanish, gold failed as monetary network

Eliminate the fiction

Digital gold, sell the past, own the future , easy!

.

Dodge

Satisfaction of human needs ,, “useful”

Causal connection

“Economize”–

Study of human choices under scarcity

.

Introduction to Bitcoin

.

New tactics, approaches, techniques —

.

Value is subjective, inside our consciousness

Bad to good

.

Insanely ingenious ideas!

.

Subjective valuation

Ordinal vs Cardinal

.

Best Friend –> there can only be one.

New morals, new ethics

Value and price are different

.

Want of the thing vs the labor necessary to create it!

Labor does not always determine value!

Utility vs labor?

.

Negative vs Positive talk & energy?

.

Perhaps I’m immoral and unethical and evil?

It’s ok to be evil?

.

Human choice, scarcity

“I am a bad person”

No virtuosity in anything?

.

The Bitcoin industrial machine

Simple Designs Last

Unconcerned.

Like shifts in temperature?

.

The sun never doesn’t rise,, the sun always rises!

malus, kakos (bad, wicked)

The word evil has a long and fascinating etymological history that traces back to Old English and beyond. Here’s a breakdown:

1. Old English: The word “evil” originates from the Old English word yfel, which meant “bad, vicious, ill, wicked.” It was used broadly to describe anything harmful or morally reprehensible.

2. Proto-Germanic: Before Old English, the term comes from the Proto-Germanic root ubilaz, which also carried the meaning of “bad” or “evil.” Variants of this root appear in other Germanic languages:

• Old High German: ubil

• Old Saxon: ubili

• Gothic: ubils

3. Proto-Indo-European: The root of ubilaz is thought to trace back to the Proto-Indo-European (PIE) root upelo- or upo-, which conveys ideas of “overturning” or “exceeding limits,” suggesting something disruptive or harmful.

4. Shift in Usage: Over time, “evil” evolved from a general term for “bad” or “harmful” into a more specific term for moral wickedness, particularly in a religious or philosophical context.

5. Comparison with Related Words: In other languages, similar terms for “evil” also reflect notions of harm or moral wrong:

• Latin: malus (bad, evil)

• Greek: kakos (bad, wicked)

Thus, the concept of “evil” has ancient roots tied to notions of harm, wrongdoing, and disruption of order, evolving into its modern sense of profound immorality or wickedness.

Transgress good or healthy

Bad, harmful, deviant?

The English word “evil” has its origins deep in the Germanic branch of the Indo-European language family, tracing back at least to the early stages of Old English and beyond. Its earliest known form in English appears as yfel in Old English texts, dating to before the 12th century. This Old English form aligns closely with cognates in other early Germanic languages, such as Old Saxon ubil, Old Frisian ivel, and Old High German ubil. All these variants carry meanings related to morally reprehensible behavior, misfortune, or something harmful or disastrous, though they did not always have the exclusively moral sense that “evil” often carries today.

The Proto-Germanic precursor is commonly reconstructed as *ubilaz (or similar variants), pointing to a shared root in the pre–written history of the Germanic tongues. Although definitive reconstructions at this deep temporal distance are always somewhat tentative, most historical linguists believe that this root signified something “bad,” “harmful,” or “deviant.” It may have been connected to the idea of transgressing established boundaries or failing to meet the standards of what was considered “good” or “healthy.”

Beyond Proto-Germanic, attempts have been made to link the root to Proto-Indo-European (PIE) forms. Some scholars have proposed a tie to a PIE root that would have carried a more general sense of “exceeding limits” or “causing harm,” though the precise PIE form and meaning remain uncertain. Such uncertainty arises because not every Germanic concept can be neatly matched to a PIE antecedent with a direct semantic equivalent. Nonetheless, the general sense of wrongdoing, harm, or moral deficiency seems consistent throughout its deep linguistic ancestry.

In Old English usage, yfel had a relatively broad semantic range, encompassing not only moral depravity but also misfortune, calamity, defect, and anything considered unfavorable or harmful. It was not strictly limited to moral evil as modern English often is. Over time, and through the Middle English period, the forms shifted—ivel, evil, and others—gradually standardizing into the modern spelling “evil.”

By the later medieval period and into Early Modern English, the moral and spiritual connotations of “evil” came to the forefront, particularly influenced by religious texts and philosophical treatises that contemplated the nature of sin, wrongdoing, and moral opposition to the divine. Thus, the modern English sense of “evil” as embodying profound immorality, wickedness, and malevolence reflects a long history of both linguistic evolution and cultural reinterpretation of its meaning.

Last week, $MSTR‘s treasury operations delivered a BTC Yield of 3.3%, providing a net benefit of approximately 13,270 BTC to shareholders, or around 1,896 BTC per day. At $98K per BTC, this equates to $1.3 billion for the week, or $186 million per day – @saylor

You’re not missing anything!

From the bottom up

MSTR & Bitcoin

No carbs no starches, no powders! Just beef flesh meat!

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