The Random Show — Bitcoin Pros and Cons, 2021 Resolutions, Fave Books, Lucid Dreaming, Couples Therapy, and More (#493) | Kevin Rose on The Tim Ferriss Show

Check out on The Tim Ferriss Show Podcast Page and Show Notes

Key Takeaways

  • Investments in crypto are extremely risky
    • Kevin only keeps 5% of his portfolio in it
    • When it grows excessively, he sells some of it to rebalance his portfolio
  • Investing is a great playing field to assess the effectiveness of your decision making
    • You can then transfer what you learn in investing to the rest of your life
    • “We are all investors; of time, energy capital and you can choose to become better at those things or you can remain blissfully unaware” – Tim Ferriss
  • Rather than time-management, Tim is focusing more on energy management
    • He found that the most energizing things he does are often in Nature
    • Specifically when cultivating awareness and appreciation for Nature
  • You should only choose books that you are sad to see end
    • If Tim is rushing through a book, he takes it as a sign to drop it
  • “If you eat an animal but you won’t kill it, you are way disconnected from nature” Kevin Rose

Key Products Mentioned

Intro

  • This is another episode of The Random Show, between Tim Ferriss (@tferriss) and Kevin Rose (@kevirose)  
    • Check out the Podcast Notes from the previous episode of The Random Show, which aired in August 2020 and one in May 2020
  • In this episode, Tim and Kevin discuss Bitcoin, energy management, lucid dreaming, new year resolutions, and more

CryptoMania, Bitcoin, Investing

  • With COVID, people expected Bitcoin to go up when the market went down
    • Instead, as people needed cash, they also sold Bitcoin causing its price to go down
  • On the current “crypto mania”
    • Institutional investors are starting to get into crypto
      • It takes time for new technologies to be widely adopted
    • It used to be very hard to invest in crypto, now you can even buy it with Paypal
  • If Kevin were to start investing in crypto today, he would pick a dollar amount he feels comfortable with (e.g., $1,000) and invest it over six months
  • Investments in crypto are extremely risky
    • Kevin only keeps 5% of his portfolio in it
      • When it grows excessively, he sells some of it to rebalance his portfolio,
    • He tends to ignore the fluctuations and keeps investing for the long-run
  • 99% of the coins you see in the market today are garbage
    • It’s hard for them to go away
    • They are stagnant and the trading volume keeps decreasing
  • There’s a lot of innovation in the DeFi space, mostly on Ethereum
    • They are interesting angel investment opportunities
    • Very high risk, but also a potential for 20-50X upside
  • Bitcoin is probably not going to see a 20X increase any time soon
    • Its market cap is ~$820.5B 
      • It would be insane to think it growing 10X
  • Bitcoin is a kind of Global Reserve Currency
    • It’s universally accepted all over the World
    • But there are allegations that stablecoins like Tether could be inflating the Bitcoin market significantly

Applying Insights from Investing To Personal Life

  • “2020 has been such a fascinating and punishing laboratory for looking at the consequences of good and bad decisions” Tim Ferriss
  • In many areas, it is difficult to quantify the quality of our decisions
    • Investing is a great playing field to assess the effectiveness of your decision making
      • Are you able to stay rational or are you controlled by emotions?
    • You can then transfer what you learn in investing to the rest of your life
      • “We are all investors; of time, energy capital and you can choose to become better at those things or you can remain blissfully unaware” Tim Ferriss
  • Tim realized that he has not been very good at exiting his investments at the right time
    • This year, he learned to take a three-year investment horizon
      • It’s impossible to predict short term fluctuation or long term changes
    • Similarly, he now looks three years ahead when making plans in his own life

Time vs Energy Management

  • Rather than time-management, Tim is focusing more on energy management
  • Tim is trying to minimize the time he spends on investment decisions
    • He realized that thinking about investment drains his energy
      • He set rules so that he doesn’t have to constantly make decisions
  • At the end of the year, he reviews his calendar looking for the activities and people that give or drain his energy
    • Then he uses that information to schedule things for the following year
  • He found that the most energizing things he does are often in Nature
    • Specifically when cultivating awareness and appreciation for Nature
      • Learning to identify birds, trees helped with this

Book Recommendations and Choosing What to Read

  • In 2020 Tim decided to not read any book that was published in 2020
  • We are constantly bombarded by book recommendations
    • We don’t have that much time on the Planet, our time is precious
      • The Tail End by Tim Urban talks about this (Tim re-reads it regularly)
    • How many really good books do you read per year?
  • Generally, it’s not worthwhile to read books that have not stood the test of time
  • You should only choose books that you are sad to see end
    • If Tim is rushing through a book, he takes it as a sign to drop it
  • Books that Tim enjoyed recently

Lucid Dreaming

  • Lucid Dreaming is when you realize that you are in a dream
    • The fact that it is possible to do so was scientifically demonstrated
  • Learning to lucid dream makes you more aware in waking life
    • You practice asking yourself if you are dreaming by doing “reality checks”
  • There are many techniques you can use to improve your dream recall
  • There are all sorts of benefits you can reap from lucid dreaming
    • If you have stage fright you can practice in your dreams
      • The improvements carry on to real-life
    • In high-school, Tim used to intentionally dream of practicing wrestling with a gold-medalist

Adapting to COVID

  • During COVID, Kevin tried new activities to see what would raise his energy levels
  • The things that had the biggest impact on him were:
    • Walking in nature with no phone and no distractions
    • Daily sauna
  • Kevin’s relationship also benefited by doing some couples therapy
    • If you are going through rough times it doesn’t mean you found the wrong person maybe you just need a little help
  • Kevin’s rule to cut his drinking during quarantine was “never two nights in a row”
    • When wanting to drink he also asks himself “Who’s getting nourished right now?”
    • Using an Oura Ring shows how much drinking disrupts your sleep
    • Kevin has been using CBN (not CBD) gummies to support his sleep
      • He buys gummies from a Wyld
  • In Tim’s relationship, when conflicts arise they start discussing by saying “the story I’m making up in my head is”
    • Simply saying this disarms conflicts effectively

Resolutions for 2021

  • Kevin’s word for 2021 is “patience”
    • He’s anxious about the vaccine, the change of presidency, and the other things going on in the world
    • He wants to remind himself to be more patient
  • Tim’s word for 2021 is “mischievous”
    • He wants to bring more playfulness
    • Life is too short to take yourself too seriously
    • We get too attached to the labels we identify with and behave based on other people’s expectations

Hunting, Eating Animals and Healthy Snacks

  • “If you eat an animal but you won’t kill it, you are way disconnected from nature” Kevin Rose
  • Tim used to be against hunting until he worked on The 4-Hour Chef: The Simple Path to Cooking Like a Pro, Learning Anything and Living the Good Life by Timothy Ferriss
    • He spent time with responsible hunters like Steven Rinella (notes from Steven’s appearance on the show)
    • He realized that hunting can be done in responsible and eco-aware ways
  • The evil side of hunting is when people hunt
    • Species at risk of extinction
    • Just for the trophy
  • Healthy Snack Recommendations
    • Maui Nui Venison Jerky
      • The most nutrient-dense meat you can imagine
      • All wild-harvested on private ranches
      • They take precautions to make their operations as sustainable and humane as possible
    • Magic Spoon Cereal
      • High protein, low carb, healthy cereal

Documentaries and Movies Recommendations

  • My Octopus Teacher
  • The Last Dance, the documentary on Michael Jordan
  • Crip Camp: A Disability Revolution
    • A very uplifting story that puts a lot of things in perspective
  • Hamilton’s Pharmacopeia
    • Documentary on drugs and psychedelics narrated by Hamilton Morris, a previous guest on the Tim Ferriss Show (notes from the episode)
    • In each episode, he consumes one of these drugs and records the whole experience
  • Dosed
    • Documentary on psychedelic-assisted therapy to treat addiction featuring Gabor Mate
  • Soul, the new Pixar Movie, currently only available on Disney+

Additional Notes

  • Kevin spent lots of time researching apps to track all his finances in one place
    • His favorite two are Personal Capital (free) and Simplifi by Quicken
    • He thinks these apps are important because:
      • You can track your spending against your budget and income
      • They save you the time of logging into several different accounts
    • You are not sharing your credentials with these platforms
      • The credentials are shared through a secure platform called Plaid
  • Tim deleted all social media apps from his phone six months ago
    • He still posts on Instagram using Onlypult
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Notes By Giorgio Parlato

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