Joseph's "Just My Thoughts"

An important aspect of understanding your business ecosystem is knowing your position within it (positioning), whether you hold a higher or lower (subordinate) role, and whether your offerings are substitutes or complements. Netflix started as a DVD rental service. With the rise of online streaming, Netflix saw it as a replacement for DVD rentals. Kimbap and Ramen are complementary goods, but Ramen and Udon are substitutes. This is why, even when setting up a snack bar, paying attention to the menu is crucial. Complementary goods increase sales, while substitutes are more likely to lead to no change or even a decline in sales. - Joseph’s “just my thoughts”

The number of gas stations along the road decreases as vehicle mileage increases. If you do not understand your business ecosystem and only manage it diligently, the consequences will stay with you. A gas station is a subordinate part of a car. Therefore, changes in car performance have a ripple effect on many related industries. I must constantly monitor and study the ecosystem in which I operate my business and decide how to respond when changes happen. The shift from internal combustion engines to electric vehicles also impacts gas stations. The world is changing rapidly right now. - Joseph’s “just my thoughts”

Whether cryptocurrency or NFT, a digital asset operates on the blockchain system. A blockchain is simply a ‘book of transactions.’ The great advantage of this ‘trade ledger’ is that it enables ‘credit transactions.’ The most important aspect of a credit transaction is a ‘book’ that proves whether the payment has not yet been made or has been paid in full. Blockchain is a system that makes this ‘ledger’ unchangeable and immune to theft. In other words, the nature and properties of digital assets today are more similar to ‘bonds.’ When someone steals the ‘ledger’ in a ‘credit transaction,’ everything disappears unless a copy exists. If the recorded transactions in the ledger are a means of payment, it is called ‘currency,’ and if it’s ‘art’ or ‘content,’ it’s called ‘NFT.’ They differ only in what they represent, despite sharing similar properties. - Joseph’s “just my thoughts”

Thinking of love and hate, honesty and dishonesty as extensions of myself helps shape how I build relationships and how I act. The truest honesty I show to others is reflected in how I extend honesty to myself and share it with them. Those who are not honest with themselves are also not honest with others. If I don’t forgive myself, my hatred for others also fosters negative feelings within me. I can accept others in myself just as much as I accept myself. My well-being always comes first, with others coming second. - Joseph’s “just my thoughts”

When you’re in a relationship, you shouldn’t judge the person based on how they treat you or others, but rather on how they treat themselves. Because when someone treats themselves well, they are unlikely to deceive themselves. This is also because, even if they do deceive themselves, you can often see the flaws in their contradictions in their appearance. Self-development and building relationships all begin within oneself. What I think of myself is the most important benchmark in my life. - Joseph’s “just my thoughts”

Cryptocurrency is traded through a system called blockchain, which involves a ‘sender’ and ‘receiver’ of the transaction record, along with a ‘miner’ who verifies the transaction’s integrity. Essentially, it is a multi-party system that depends on computer hardware known as a server. Running a computer to calculate and validate transactions consumes electricity, and to participate in the blockchain network, the cryptocurrency issuer must pay a fee. This fee effectively reflects electricity costs. Since the blockchain system relies on electricity, the core of cryptocurrency ultimately comes down to energy. - Joseph’s “just my thoughts”

Immunity is a battle between ‘me’ and ‘not me.’ Our brains and bodies are designed to be entirely egocentric. Genes are self-interested because they ensure their own survival. If I don’t exist, then there is no one else and no love. After all, loving others is an extension of loving myself. If there ’ s a distortion or immaturity in self-love, even when loving others, it can leave a scar, and that wound leaves a scar on me again. The victim consciousness forgets this mechanism. Just as immunity is vital for physical health, it’s equally crucial in mental health or religion — the immune system against self-love must remain strong. - Joseph’s “just my thoughts”

If thinking is categorized practically, it can be broadly split into ‘volitional thinking’ and ‘instrumental thinking.’ Volitional thinking involves the belief that to succeed, a person must have a strong will to overcome hardships and obstacles. Self-improvement falls under this category. However, to actually overcome hardships and obstacles, it is instrumental thinking that drives us to consider that we need ‘tools’ to get past them. In other words, it’s like how carpenters build houses: they construct the structure, but tools are what make it possible. There is no carpenter without tools. Both are essential for success, but if I had to emphasize one, focusing on instrumental thinking is more advantageous. - Joseph’s “just my thoughts”

When building a wall with stones, the large stones are stacked, the small stones are filled in the gaps, and the spaces between the stones are filled with smaller stones and the final layer of sand. Although the elements that make up the wall vary in size, their roles are fixed, and each performs its part. None of them is useless. Management is the act of bringing together different characteristics and harmonizing them into one. There is no one worse than me; there is only me who ignores others. - Joseph’s “just my thoughts”

From a neuroscience perspective, the object I love, devote myself to, and sacrifice for is an ‘extension of myself.’ The brain is inherently selfish. Selfishness is a necessary emotion and attitude for survival. Only when I exist can others exist. Yet, we often see people making sacrifices for others. How can I love someone other than myself? What I dedicate and sacrifice for someone is what my brain perceives as an ‘extended me.’ Ultimately, loving others is an extension of loving myself. Therefore, self-love becomes a foundation and a tool for loving others. If ‘self-love’ is healthy, then loving others is healthy too. - Joseph’s “just my thoughts”

In the Middle Ages, due to high illiteracy rates, paintings often served as the main medium of communication. Today, media communicates through monitor screens and their pixels. Pixels are rectangular dots created by hardware that combine to form text or images. Currently, the pixel is the smallest unit of media communication. Cryptopunks, NFTs created by Canadian software developers Matt Hall and John Watkinson in 2017, are images composed of rough-resolution pixels. Although their value has increased due to their historical significance, ‘Cryptopunk #7523’ from the series was sold for $11,754,000 at Sotheby’s auction on June 10, 2021, because it conveyed rarity and history through its rough pixelation. This NFT, which utilizes square pixels as a tool, conveys a similar concept to Lego blocks, which are meant to be constructed with blocks. In media, messages are created, distributed, and valued based on the nature of the expression tool. The tool is the message. - Joseph’s “just my th...

Demand > supply = price increases, demand < supply = price decreases. We all know that the laws of supply and demand set prices. This rule also applies to stock trading; however, there is a high probability of error when using this rule to judge the volume balance of buy/sell stocks in the limit order book. The key factor is the ‘remaining volume (balance).’ The volumes of stocks listed on the limit order book are meant for trading, but traders can manipulate some of the specified prices for illegal purposes. Additionally, in an uptrend, the seller submits a higher price, and the transaction is not executed immediately. Conversely, in a downtrend, the buyer sets a price to buy at a lower price, allowing the unsold balance to accumulate. In the limit order book, the principle works in reverse. Of course, it cannot be applied 100% in every case. - Joseph’s “just my thoughts”

Rarely does an erected flag fly alone. An invisible wind moves it, meaning an external force. When the wind blows, flags flutter, dust rises, and laundry dries. Many changes occur in response to one external factor, but we cannot see the cause. Eyes capable of reading invisible external causes can respond to a world of rapid change. We cannot attribute a cause solely by observing a phenomenon; instead, we must recognize a specific pattern across multiple phenomena. The ability to detect hidden commonalities is a form of wisdom. - Joseph’s “just my thoughts”

Since air is an essential element for survival, its value is infinitely high; however, because it can be obtained anywhere, its price is effectively zero. Nevertheless, pure 100% oxygen is rare and can have a price. The distinction between value and price is important, but many people don’t understand how they differ. Exclusivity of supply is necessary to assign a price to something’s value. Exclusivity means only you can supply it, and people can only buy from you. Time also makes exclusivity. That is the message that you cannot buy it without now. Universality creates value, and scarcity creates price, thereby placing a value on that value. But these two contradict each other. Wealth is always built on contradictions. That’s why business and investment can be so challenging. - Joseph’s “just my thoughts”

The key to getting along isn’t with people, but with time. Time shapes both individuals and the environment. And the scariest phrase is, “This too shall pass!” As time goes on, good fortune can become a curse, and misfortune can turn into good luck. Therefore, nothing is more important than the ‘now’ when it comes to pursuing happiness. - Joseph’s “just my thoughts”

Existing economics teaches us that mankind invented the monetary system because barter was inconvenient. Despite having a monetary system, people still felt that even currency issued by it was inconvenient; therefore, economists explain that they created the current credit economy system. However, evidence found by anthropologists contradicts that explanation. In other words, it is argued that the credit transaction system existed before the monetary system, and then the credit system became distrusted for some reason. As a result, the monetary system was created and eventually replaced. Cryptocurrency today is a mathematical algorithm that makes it impossible to forge or alter transaction records. This happened because we don’t trust humans, and in ancient times, there was a more advanced credit transaction system. Don’t be fooled into thinking that the present is more advanced than the past. - Joseph’s “just my thoughts”

Wealth can only be accumulated when ownership is secured by humans. Debt is a relative concept that stems from ownership and establishes the idea that others’ property must be returned to the original owner. Debts are useful when managed properly, but they also come with the burden of repayment. The obligation to return others’ property is rooted in human morality, which is ultimately linked to the foundation of economic activity. Living with good people is a crucial factor in achieving wealth. Therefore, people come before money. - Joseph’s “just my thoughts”

It is said that men put their words in their hearts, and women put their hearts in their words. Men simply want to present the facts, while women seek empathy. Men speak to solve problems, but women talk to relieve their minds. Although the language used is the same, the grammar of the mind works is often different. Even if their expressions differ, both are necessary; because they are different, we don’t need to build walls. It’s hard, but accepting ‘difference’ opens up a new world. Therefore, the first step to happiness is communication. - Joseph’s “just my thoughts”

1 + 1 = 2 is an unchangeable mathematical fact. However, in real life, there is a synergistic effect that can make the calculation result 3 or more. Therefore, even though we believe and accept certain axioms, there may be cases where they do not always hold true in extraordinary circumstances. One such case is the belief that reason exists as the opposite of emotion. Perhaps reason is not the opposite of emotion, but rather a part of it or a different form of emotion. How can we classify reason and emotion? The reason we recognize might actually be logic that originates from emotions. There is certainly a concept called ‘reason,’ but its true nature may be unknown to us. Ultimately, emotions will likely dominate our existence. - Joseph’s “just my thoughts”

People recognize that perfection is a worthwhile trait, and everyone strives for it. However, humans cannot attain perfection, and we must admit that pursuing it can cause major setbacks. Imperfection and immaturity often make others more empathetic. No matter how excellent or meaningful something is, if a person rejects it, it won’t be helpful. The empty space in a picture provides us with relaxation and comfort. Nobody likes stress. Children are seen as adorable and lovable because their surroundings are spacious and clean. Emotions flow into empty space. - Joseph’s “just my thoughts”