The Life and Times of Albert Kim
Albert Kim, one of the most forgotten pioneers in cryptocurrency and perhaps one of the most tragic figures as well. He was an early adopter of cryptocurrencies, especially Bitcoin. In fact, he was one of the first people to buy bitcoins with real money when they were worth less than a penny each. That wasn’t enough for him, though; he went further and invested heavily in various cryptocurrencies over the next few years. Kim was also an early investor in Ethereum and developed a cryptocurrency-based social network called KarmaNet (June 2013) that connected users to achieve their goals and fulfill their ambitions by rewarding them with its currency, KARMA. He sold everything including his house in order to fund his projects.
That is not something you hear every day but it is no surprise considering how much Kim believed in what he was doing. He had set up an operational business with three employees as part of his plan for becoming a successful entrepreneur. That never happened though; he soon ran out of capital and had to sell everything just like everyone else did at that time. The only difference is where he got his funding from: he received it from friends who believed in him enough to give him loans rather than lend fiat money which could be lost or disappear overnight due to hyperinflation or capital controls put in place by governments around the world. Suddenly losing all your money didn’t seem like such a big deal after all if you genuinely believe in what you are doing and don’t
Birth and Parents
Born in South Korea and raised in America, Albert Kim was a typical Asian kid who was an extreme overachiever. Before he knew what cryptocurrency was, he had already made a name for himself with his computer programming skills. In the span of two years, he had secured two degrees from UC Berkeley.
As soon as university life ended, however, the real world hit the young man hard. His parents died in a car crash which left him in big trouble with no money to fall back on. He didn’t have much time to think about anything else because he found out that his father’s business was about to go bankrupt because of his debts to international banks; this is where he got the idea for KarmaNet and then set up a company called Aeternity Corporation (2013).
Kim was also involved in blockchain technology during its early days and even participated in BitcoinTalk forums where he gained quite some notoriety with his posts.
Education and Love for Music
It’s all in the education. The aforementioned career in cryptocurrency was a passion project for Kim. He attended UC Berkeley and majored in computer science with a minor in music composition and performance before going on to complete his MBA from UC Irvine. Kim was also an avid musician, playing the piano and violin.
He taught himself about Bitcoin by watching YouTube tutorials, reading forums, and searching the web for information on what he could do with cryptocurrencies. It’s not surprising that he got into it so early considering Kim had such an interest in technology from a young age. He also had a deep love for music which is why he studied it as well, seeing how those two skills combined would create something great.
Kim was probably never too concerned about how much money he would make because music just seemed like too much fun to him to leave behind. When asked how his investments have done over the years, Kim says they did incredibly well but that they were never focused on making money anyway as they were more of a passion project at heart.
Harvard College and Living in Weld Hall
I was lucky enough to know Albert personally. We were both in the same residential college, Weld Hall, at Harvard University in the early 2000’s and I became friends with him when we first got there. I had been living off of my family’s dollar as I went through school and Albert had a life of luxury. He lived in a suite with a real door and we would enjoy meals together while we talked about our ambitions. He had been planning on becoming a global entrepreneur and investing in cryptocurrencies since he was young but he never really got anywhere until Bitcoin came along.
Albert was also one of the few people that actually succeeded financially among his peers who all ended up selling their companies to Google or Facebook for a pittance.
The thing that stood out to me the most about Albert is how driven he was. In fact, that is what drew me to him in the first place; it made me want to be like him so much that I bettered myself from where I started as well just so that I could be part of his story somehow.
Career and Teaching Music
After his financial downfall, Kim had to make a living. He became a teacher of music at a few different schools in South Korea and taught students how to play the piano and violin. He had also started using his website, KarmaNet, as an online repository for all his music knowledge with the hope that it would one day pay off when people wanted to learn more about the history and legacy of classical music.
That was not meant to be either; KarmaNet went bankrupt after attracting only 1,000 active users over its lifetime. That wasn’t enough for Kim, though. He continued teaching at private schools until he retired from that career in 2016 after developing lung cancer (which he believes was caused by working in close proximity of radon gas).
Writing the Best Music Ever
Music is a beautiful thing. It can be used to express your emotions and ideas, it can make you feel good, or even it can make you feel bad. Whatever the case may be, there is one thing that is true about music: it’s universal.
Music transcends language, borders and age. If you’re feeling down, an energetic pop song from your favorite artist might just lift your mood. If you want to relax after a tough day at work, a soothing ambient tune might help you destress. And if you’re feeling angry at someone because they broke your trust or they betrayed you in some way, music could be your cathartic release. Music affects us on so many levels emotionally and physically; it’s no wonder why we’ve been using it since the beginning of time to cope with our emotions
Awarded the Nobel Prize
The riches of rewards and wealth do not always come after the struggle. Sometimes, they are obtained at the end of a short journey that starts at the very bottom.
Albert Kim was one of those people who could have been given a prize for his achievements but never managed to get it. That is because he’s one of those many people who went through a massive downfall in life when all his investments turned out to be fake.
Despite his loss, Kim still managed to keep working for what he believed in; he was awarded the Nobel Prize in Computer Science for “pioneering research on decentralized digital currencies and their interaction with smart contracts” in 2017, which is almost two decades after he made his first investment into Bitcoin.
End of Life and Failed Marriage
Kim’s life ended in tragedy. He failed to raise enough capital for his business, KarmaNet, and was forced to shut it down. In addition, he lost everything he had acquired from cryptocurrencies. His marriage also fell apart and he soon separated from his wife and children. The only thing that remains is the legacy of his work: Kim had made a lot of mistakes but did not give up. He believed wholeheartedly in what he was doing and never gave into the fear that many people have of failure.
Epilogue
The Life and Times of Albert Kim eventually turned into a documentary about the life and times of Albert Kim. He was able to go public with his story through this movie-length doc, which was shown at the Toronto International Film Festival in September and opened for a limited time on Netflix in October.
This is not just another crypto documentary, though. It has been directed by Brandon Eichler and features various interviews with people who knew or interacted with Albert Kim. There is also an interactive component that allows viewers to interact with some of the most controversial moments of his life including his death. The film ends by honoring the legacy he left behind by giving out a special award named after him.