 If we're trying to try out a new restaurant, we always search and yell, we look at the reviews and we always research. When it comes to money, people make weird decisions. It's all about risk to reward. This is the wildest thing I've ever seen in front of me at a restaurant. By now, you've heard what's going on with crypto, from it potentially replacing money to NFT art pieces to the future of the metaverse. It's definitely an exciting but confusing space. That's why we started this series, Upside Mindset, to link up with successful people who are on the cutting edge of what's happening and have them help explain in simple terms what's going on. We're not endorsing anyone or anything, just having a conversation over good food and hoping to learn something. Today, we're going to be talking with Moon Jin and Mongolian who moved to America as a teenager and worked his way up from being a dishwasher to now being a multi-millionaire through trading stocks and crypto and teaching others how to do it. Let's go. What's up, everybody? Welcome to another episode of Upside Mindset, mixed with Feng Ro's food. Today, we have a Mongolian and Korean feast in this video. We have a special guest, Moon Jin. We have a lot to talk about. We're talking about food, culture, and actually your upcoming crypto project. Hi, everybody. My name is Moon Jin, so I'm a day trader, equity investor, also a crypto bull, been investing into crypto since 2016-15, you know, back in the day when it wasn't really cool. And now I'm all about giving back to the community. Right now, we have a bunch of fresh Mongolian food on the table. David, this is Lowkey, one of your favorite cuisines. Yeah, yeah. We came here when it was, I want to say golden horse. Now it's switched over to Arang, and it's cool. So I guess, what are we looking at real quick? Because we are having some Mongolian dishes that we have never had before. This is called Chou Yubang, a doctor from a Chinese dish. This is a stir-fried noodle with lamb head. I knew that did not look like some regular meat, man. Is this a dish that you are currently eating in Mongolia? Like, are these dishes that you eat in Mongolia right now? This was actually one of my favorite restaurants when I come in the light. Because they actually really have these authentic Mongolian dishes. The unique thing about the Mongolian dishes is, all the dishes that you have in a Mongolian restaurant is exactly the same as what you have it at home. You know, the restaurant food is a little different than homey food, but this is actually like homey and warming food. Lamb head Chou Yubang. Dude, if you guys haven't had Mongolian food, you guys owe it to yourself to try this, because man, underrated. Yeah, I think this is my first time having lamb head. Only weird in my mind, in my mouth, and it tastes great. This is lamb liver. We going for lamb head to lamb liver. Let's do it, lamb liver. How do you say this in Mongolian? In the next dish, we're going to have lamb guts. All right? I came here when I was 17, right out of graduating high school in Mongolia. When I first came here, I didn't have college tuition money. So I realized, okay, I have to start working. So I searched for all the local Asian restaurants numbers, Korean, Japanese, Chinese, because I thought I'm more close. I would be more close towards Asian people, and they would probably hire me the better. And so I started calling them up. It was fortunate enough that I speak Japanese. I spoke with the Japanese owner, I'm like, very hard. Well, I lived in Japan for a year, when I was in middle school. Thank you so much for people. So this is, this is called kosher. All right, I'm going to split this up. Meat pie. It's still crispy. Juicy inside. Hey, any meat pie from any culture I am down for. Yo, that's one of my favorite guy, David here. This is a 10 out of 10 to me, man. Just a little bit. That's good. So you have stuff that is full of meat. Isn't there saying in Mongolia, grasses for cows and meat is for humans? Lots of meat is for humans. We eat a lot of meat, man. Hard to be a vegan in Mongolia. Yeah, cause we have such a harsh weather in the winter, right? So you have to eat meat to stay warm and get through the like minus 40 Celsius degree. Absolutely. So anyway, you are at working at the Japanese restaurant as a dishwasher and then a cook, right? You kind of move up the ladder. Yeah, I started off as a dishwasher and then I worked my way up to become a sushi chef and then a head chef. You're as a head sushi chef and then you're like, you know what, it's time for me to move on to college? Yeah, cause I thought, you know, if I'm gonna keep on making sushi, I'm gonna keep on doing this for my whole life, right? Like standing on your feet for 10, 12 hours a day, not to crap on other sushi chefs, but it's a hard job, man. So I thought I have to do something else. I have to go to college, get educated. Working at a restaurant, getting paid minimum wages, working hourly jobs was a turning point for me because I realized that if I don't actually make my dream, like realize those dreams, if I don't do something about it, then I'm gonna keep on doing this for the rest of my life. I didn't like it. That's why I wanted to get into more of a business side, more of the financial side of the world. That's why I started research back when I was like 20. Seems like you always had this inner drive though. Even though you were caught up in this situation and you were able to, you know, move up out of it, but like what is that inspiration, that motivation inside of you? What does it come from? I grew up with my grandparents. Parents got divorced when I was around four and one of them left in Japan for PhD. That's why I went to be with my mother when I was in Japan. So I grew up with my grandparents and I see all these kids, their parents, living more happier life than me, right? Okay, in the future, I'm gonna live the better life than you. I'm gonna have all these things that you guys have. I'm gonna even have better. I'm gonna provide better things for my kids. I'm gonna provide better things for my community. That was always that inner thrive that kept me going. You're saying that seeing that disparity between the situation you got born into and the situation that other people got born into fueled that fire, that drive, that willpower to rise up. Yeah, absolutely. If I fight with a bigger kid than me, if he was like beating me once or twice, I would always come back, right? Give him the hard time. And until I beat him. So that was from my childhood mentality. So that's why when it comes to trading, so what, I lose a little bit of money, so what, I blow a couple of accounts. But if I keep coming back, if I not make the same mistakes that I did before, if I actually learn from those mistakes and come a brand new me, then I knew someday I would make it because like 90% of new traders fail, but 10% make it. Like I always wanted to be a part of that 10%. Not the failure 90%, right? Right, right, right. If I don't do it, then I'm going back to making sushi. Ah! This is the wildest thing I've ever seen in front of me at a restaurant. I've eaten a scorpion before, I've eaten some weird stuff, but this is actually one of the most prestige food that we serve our guests in our home. Is this a pretty common way to serve it in Mongolia? Yeah, absolutely. You have all your vegetables and then you have a raw onion. That's exactly how we eat it. You have a little bit of cucumber, tomato, some modern stuff, but back in the day, just some veggies, green vegetables, and then just have it devoured out. Oh yeah, what do we have here? We call it hui ta. This is like a very rich flavor lamb soup. It's full of nutrients, fat, and we got a, you see that glass noodle thing? It's a little bit of, you know, Chinese culture, but still it's a very good dish. Moving on, we have a dish that I know is from the steps, you know, I believe Tibetans eat this as well. Dumplings in the milk. This is a milk tea soup with little dumplings with lamb. Eat it when it snows or rains, when it gets cold. We have a different type of balls, right? Is this balls or is this something else? Yeah, this is like, we call it mantung boats. Mantung means it's like the flour is more like a bakery type of flour. What are you talking about? I'm not sure how to explain it. Yeah, because it sounds like mantou. Yeah, mantou, mantou. Yeah, mantou, mantou. That's exactly it. You guys man, in an age of Sichuan, I love Sichuan food, but you've got to try Mongolian food and some of the foods, just the salt and pepper. So anyway, continue telling the story, which about you're at the university of Washington, you're learning about finance through your own means. If you guys know about business school, they kind of teach you to just invest in like index funds or just like work for somebody and get a 401K. They're not really teaching you all these options and calls and puts. You're getting into it. It's always good to have the book knowledge and then the practical knowledge, right? You apply it in life and then you actually learn through a trial in there. So book knowledge teaches you all the structures, how the financial system works, but the practical, the life lesson that you learn from trial and error, actually sticks with you for the rest of your life. I'd like to compare training to more for marathon runner. Right now I'm a little fat, if I try to run a marathon tomorrow, I cannot do it. I have to prepare my body, my cardiovascular, like my heart, right? And then you have to train for years to run that like 10 miles. Exactly. And you just getting up from this meal and running that marathon right now, that would be like somebody who just got off their seat and was like, oh, Robin Hood Coin Bay is like, I'm gonna make a whole bunch of money off this and then think that it's gonna go fine. I've been part of this in the early days when we started trading and getting into crypto. It was like, you just want to go in with what your friends were doing without doing your own research. But it's so funny because I'll research what type of basketball shoes I need to be wearing. I'll research the NBA, I'll research clothes and I'll research food. But then when it comes to investing, I'm just like, oh, this sounds cool. And you're like, that's like the quickest way to use money. Because it's very complicated, people get lazy. So they just put into like one start. We've all done that though, by the way. It's most of the opposite. If everybody's going this way, you go this way. If everybody's selling, you buy. This is your, that's your buying opportunity. If everybody's buying, it's going crazy like fear of missing out, then you might want to start selling and taking profits. The losses is not a loss until you relight, until you actually sell that position, until you actually close that position, right? Most people really cannot, they trade. So they have to have that longterm mentality, invest into what you know, invest into what you believe in, instead of just hearing some coin, you buy it and then next day, you're worried and nervous about your seller or not. But if you know that project, then you believe in it, then you're okay, right? Always remember, D-Y-O-R. Do your own research. And another word that's key is D-D, do diligence. We're trying to try out a new restaurant. We always search and yell, right? We look at the reviews and think, we always research. When it comes to money, it's weird, man. People make like weird decisions. Like when it comes to money. Why do you think that is, is that human nature or is it because we don't receive enough financial education in our primary years? And people like just try to teach you about other stuff or what is it? We were taught about S&P 500 index, how it's done well in the past 100 years. You know, then we would open our eyes into different things, right? Instead of just spending our money on expensive shoes or whatever. I mean, I buy expensive shoes, but it was years that I couldn't afford like anything. You also understand macro economics and market sentiment. Real quick, man. We just gotta get into this stuff because we gotta move on because we got a lot of food to eat. So yeah, what are we going for? So this is how we drink the milk tea. Mongolian men's style. All right, let's all do it together. Hand on the knee. Yeah, hand on the knee. Make your stance strong. And then a drink like this. Trade. Right, yeah. Crypto. Crypto. All right, everybody that wraps it up here at Aadag Mongolian. We have a lot more to talk about. We are also going to head to one of the hottest Korean restaurants in all of K-Town. So that's our next spot. And we're going to be talking about inflation. And that leads to your upcoming crypto project, which you know, you also got to explain to people. So let's get into it. All right, you guys continuing part two with Moonjin. We are here at Hanam. This is one of the newest spots in Korean town, Los Angeles hottest foodie spot. We're talking about dishes that a lot of people have not seen before. They are serving traditional homestyle Korean dishes. Now this is different than your drinking food. This is different than Korean barbecue. This is the next level done by Chef Kang. I'm excited to get into it. This looks good, man. This is something I would be involved with. Yeah, yeah, this is the barbarian rib. So not to be stereotypical, but that's for you. Let us talk about trading inflation and then your new crypto project in that order real quick. Any more tips as people get into this trading lifestyle? So many people have the discords, the telegrams. Their friend runs a subscription discord. How do you know what's real from fake, man? Cause it looks like everybody's rich, but I know that some people are rich, but even of the people who look rich, some people are fake. And how do you tell? Some so-called trading influencers, trading coaches, like Furu's, right? They don't show you. They show you screenshots or photoshop photos. They could be renting those cars. It could be their friend's car, but they showed them off and try to get them into selling the dream, try to get them into purchasing their course. That's where actually they make their money. You made the majority of your money trading for real. I'll show you my position right now. I'm actually, this is November 23rd. This is not a financial advice, but I'm short Bitcoin right now. I think it's going to fall down to like 52K area. Then that's where I'm going to start buying. You can see here, so I got all my trading apps here, right? This is my FTX account, the exchange account. So I got two and a half million that count. And then right now this is minus 100, means I'm minus 100 Bitcoin. So if the price falls, I'm going to be making a profit. Let's say it goes from 58 to 52. You're going to make 600K, right? $6, I'm risking about 150K to make 600K. So it's all about risk to reward. So I will give you one trading advice. One trading advice would be, do not go into trades blindfold. If you're risking 500 to make 200, that's a bad trade. If you're risking 500 to make 1000 or even 1500, that's a good trade. You make 10 trades, okay? You lost five of them. If the risk to reward is one to two with the five trades, how much you're making $10, right? You're losing five, but you're making $10 and you don't have to win all the time to make money. If the risk to reward is higher, your win ratio could be smaller. Let's say if your risk to reward is one to three, you lost six trades, you made money on the four trades, three, four, that's $12 you made, you lost $6 and you're making in the end $6 profit. It's all about the risk to reward and knowing how much to risk in a single trade. Right, like is the juice worth the squeeze? Yes, absolutely. And but you always got to make sure you guys that that sweet juice is worth that difficult squeeze. So my best month was back in 2020 December. It was when all the Bitcoin trends started happening. So this is what I made. So if you can see, this is 2020 ending in December 31st, right? So the profit is a million, 200,000. The withdrawal actually money I pulled out of that count is around million. And then if you go here, you'll see my live account, Pepperstone broker, and then you'll see my name. This is a real account. Again, I use different brokerages because you cannot put all of your money in one basket. So I also use Binance right there. Two million in Tether just sitting around waiting to buy the dip. And do you have to have an investment thesis? Do you have to have basically some sort of like prediction of what you believe the price action or the factors will consequence in? You have to make a bold prediction and you have to have a thesis where the currency pair or the investment instrument is going. Is it going to go up or down? If it's going to go up, why do you think that? You have to have three risks. You have to know the market sentiment. If everybody's talking about or not, like look at Google trends, try to Google it. Everybody's talking about Bitcoin or not, right? And then second, you have to know the fundamentals. You have to know Bitcoin. There is a, the Bitcoin is limited in supply, right? And then not a lot of Bitcoins are actually being minted right now. Lots of Bitcoins are getting out of exchanges into old wallets, meaning people are not selling their Bitcoin, lots of institutions bought Bitcoin, right? So you have to know that. And then third, your mentality has to be set on something. If you think it's going to go up or you have to be on that decision, no matter it's going to go down the right. If one little tick goes against your thesis, you can't be like chucking it out the window. Right, right. People get into trade five minutes later, it dips, that they panic and sell, and then it goes up, then they end up buying higher, then it dips, they sell, and it goes up. They end up buying higher. So you cannot be doing that, you know? Let's just say Bitcoin is at like 57 right now. Why do you think it's going to 52 within the next couple of days? Oh, it's all technical. I do a technical analysis to actually make the short-term trading decisions. So what I see now is from 30 in summer, it went up one wave, okay, wave one. And there was a correction from 54 to down to 40K correction. Then another wave went up to almost 70. And then now it's time for that correction. And then we're going to have another wave going up to probably, I don't know, 100K. But this is not a financial advice, but this is called Elliott wave theory. The market goes like a ladder, right? Up, down, up, down, up. It cannot go all the way up. If it's going all the way up all the time, that's about it. For most people, just buying the dip is easier. Especially now, the central banks printing money like crazy. Companies are buying back their stocks. The loan that they got at 0% interest rate. It's so much liquidity on the market right now. Just wait for the dip and buy it. It's very hard to short the market right now. Let's just switch gears. Let's dive into some of this food real quick. Hey, does this rib remind you of a Mongolian dish a little bit? Yeah, absolutely. We eat beef rib. We boil it for like six, seven hours until the meat falls off the bone. This fermented raw shrimp is something that I had at the Guangjiang night market over in Seoul, Korea. And they have them in these big tubs and they're fermenting and kind of getting to that point where you can eat it raw, right? Most people, they wouldn't say eat raw shrimp, but you can in sushi and in certain cases, but this is fermented shrimp. So this is a duck gori-tang. This is just a spicy chicken stew, with potatoes and stuff like that. That's my one. Yeah, yeah, yeah. All right, let's talk about inflation. Earlier, we were talking about the Lambo Urus. Everybody's got to pay a markup for like desirable goods right now. That is due to inflation. What is inflation? So put it into Laming's terms, like if I were to explain it to a five-year-old, right? Inflation is your money in your pocket is losing its value. Like you have $100 in your pocket and it's losing its value to the point like $95 or $94. Right now, the US inflation is at 6%. So that means $100 in your pocket is worth $94. Meaning you were able to buy something for $100, you can only buy $94 worth of stuff now. And with the $100. Why is that happening in the US right now? Is it all the stimulus packages? Is it just the markets going crazy? Does crypto have something to do with it? What are the main reasons? So what's happening with the US right now is they're giving away lots of money. Lots of people are not working right now. Unemployment. Unemployment checks. Stimulus checks, right? Where the money comes from? Government doesn't have unlimited supply of money, right? They're not producing at the rates they're spending. That's when you have a budget deficit, right? You're spending more than you can make. You borrow it from like different countries, right? But then again, if you're spending more and more, then you have to print money. Right now, since COVID, US central bank has printed close to 30% of world's total dollar supply within two years. Because they're spending at the fast rate because of, you know, unemployment checks, stimulus checks, and people are also spending lots of money right now, it's a little bit balanced. But still the inflation is at 6%. It's 10 year high. Look at the gas prices. It's about $5, $6 right now, it's crazy. There's no more dollar menu at the fast food places. It's like a dollar 50 menu. Not anymore? How about the globe? Like other countries, we can use Mongolia's example or someone was talking about El Salvador or Venezuela earlier, I guess, is a similar thing happening in those countries? Why are those countries in good position? I think those other countries have been like that for quite a long time, right? Only stable country right now is Japan. Any other countries, man, they're in the inflationary economic period right now and central banks like to say inflation is transitionary, meaning that we can adapt to this. We can adapt to this environment. But let's say some kind of new pandemic breaks out right now. Everybody goes back to home, nobody's coming out and then people need money. Are you gonna print more? Are you gonna keep on printing more? Central banks right now, they're keeping the interest rate at zero. After that, what's gonna have to go into negative? So we don't have any economic measures to fight off any bad economic periods now. So that's what really worries me. Okay, so let's switch gears. We wanna talk about your crypto project and that does have to do with what we're just talking about. You're just talking about how countries adopting Bitcoin as its currency can help. You guys have a crypto project. It's based in Mongolia. It's called the inflation hedging coin, IHC coin. By the way, this is the part of the video I wanna let you guys know. This is not financial advice. I'm not telling you to buy IHC coin just because Monk Jim is here. That has nothing to do with it. We're just letting him explain what they're doing out there and it's a cool project. I'm not even gonna try to promote our coin. People should do their own research. Do your own research. He's saying it right here. It's called inflation hedging coin. Problem solving function was to hedge your investment against inflation, at least, right? We're not promising you like 100X return, 200X return, but we will promise you stable return hedging against inflation. So the way it works is at the rate of inflation each year, our coin burns itself at the rate of inflation tied to the US inflation. Next year comes January, we're gonna burn about 6% of our market supply. When you say burn real quick for the people who really don't know, there's a certain fixed amount of IHC out there in the world, right? And you're gonna just burn 6% of it. Yes, absolutely. And you have to do that because to keep up with inflation. Yeah, to basically normalize the inflation. Other functions include that if you're holding the coin, you're getting rewards from other people's trading activities and trading fees. So basically when you trade the coin, there are a certain amount of fees that gets accumulated into a different wallet and then distributes back into those holders. So it's really about stable investment, long-term investment type of crypto project. When did IHC come out? IHC just came out about three months ago. We were based out of Mongolia. The founders were all basically made of guys for themselves. Our founders, they don't have to work for the rest of their lives. Right, you're saying the founders are self-made. They're not getting... They were already rich trying to get the coin. It's not that like with many crypto projects, the founders are trying to get rich with their project, right? But we're already self-made and the reason we actually started the project was to actually give back to the community, give them an opportunity to put their investments, at least hedging it against inflation, right? Also to get more opportunities from this hot trending market. We raised $10 million and 30 seconds in Mongolia on 2021, August 25th. If you guys Google it, you'll see all the history about it. And then Mongolia has a $10 billion economy, okay? And we raised $10 million in 30 seconds. The reason was number one, trust. Because Mongolian community, they all know us. They all put their trust in us. Because we're all self-made. We're not trying to rip them off. We're not trying to pump and dump on them, right? Right, you guys, I mean, because obviously it came out already. You guys didn't pull the rug on anybody, right? Not at all. What does it mean to be on pancake swap or ape swap? Like, cause some people are like, I don't even know. I'm just only on Coinbase. Right. I don't even know about the swaps yet because every exchange has access to purchasing of different coins, right? Yeah, so DeFi is the next big thing because it basically cuts out the middleman. You and me, we can transact, swap. Well, as of right now, in the traditional, if you buy on Coinbase, Coinbase is the middleman. Yes, absolutely. They decide what coins they want to make. Coinbase is the middleman. But DeFi, DeFi exchanges, it allows us the liberty and freedom to just exchange what we want between the people, right? So pancake swap is one, ape swap is another. Pancake swap, ape swap there, BNB based, meaning Binance March and base. Then ERC, Ethereum based is the uni swap. We're not on uni swap yet because right now we launched our coin on BNB Binance March in, but we have bridged it to launch on Ethereum as well. All right, guys, I'm going in for the raw crab right here. And you know that the flies were going towards it. So that is really like valid. Man, that's really cool. Cause it's like, I think I want to say, right? We were talking earlier, is IHC the first crypto project to kind of come out of Mongolia, but then also not only be for that market, but for a global market. Yes, our vision is to reach the global audience, to help them hedge their investments against inflation, right? Starting from Mongolia and being so successful shows really the proof of concept that our project really works. Mongolia before our currency was released didn't believe in crypto. A lot of people thought it was a scam. Once our project got so successful that crypto is the hardest training thing in Mongolia. It showed, it works. The concept works, the utility is useful and people actually need this investment available, right? So that's why so many exchanges reached us out to list our coin on their exchanges, but we are taking our time to get it right. To get it listed on the right exchange with a great trading volume, top 10 exchanges. That's what we're looking for. All right, so as a fairly new project that's making its way, making its name, how do you decide which exchanges to be on? Because there's so many exchanges out there. Some seem maybe more legit and obviously there's always Coinbase which everybody knows about and then there's all these other ones that are more decentralized and deeper cut. It's simple, we have three criterias. First, security is the exchange is safe. Second, trading volume, house of liquidity. Enough people are trading on it or using exchange. And third is user-friendliness. So we're trying to reach the global market. This exchange in Vietnamese is the exchange in Cantonese, right? In different languages. Can it reach more global market? That's what we're really looking for. Our price data and chart shows in Coinbase, maybe Coinbase is not the first exchange that we're not going out because Coinbase is more catered towards Americans, right? We're looking more abroad than American borders. We're really catered to average Joe's, everyday people who have a little bit of money but they don't know where to put it. How to hedge against inflation. They don't understand this complicated concept of inflation, simple. If you invest in our currency, we're at least gonna hedge it against inflation. It's automatic. It's all on blockchain. You can check it, right? And that second, you're gonna be receiving rewards when you hold the coin like from the transaction fees. The concept is we're not getting anything for ourselves. People hold it, people trade it, people receive the reward, people hedge it against inflation. It's all about that community and people face. That sounded like trying to sell but I'm not really trying to sell. You guys should do your own research and look it up. You don't put all of your investments into a single coin. That's what I would say. All right, Monk Jim, we spent a lot of time. We had a lot of amazing food. We talked about your background. We gave some of your financial suggestions. You also touched on your crypto project, the IAC coin. What are some last takeaways you want people to have from this video? Do not leave your cash in the checking account. Invest it. Invest it into crypto or equity. Definitely I'm not really suggesting or selling our crypto project for you to buy. You be your own judge. Do the research. But by the time this video is released, we're gonna be listed on one of the hottest exchanges right now. It has a one billion in trading volumes in 24 hours and it's a good exchange. It's called Bitmark. So look it up. If you want some trading advice or some free good advices sometimes, like, you know, this is where I'm buying Bitcoin. This is where I'm selling Bitcoin. Follow me on Instagram, you know? This is the Monk Jim. Yeah, no, no. I'm sorry. I used this momentum for myself. No, I saw some of the videos with English subtitles, man. I was still able to like relate to the advice, man. It's nice, man. Cool, it's cool, man. That's awesome. I mean, one of my major takeaways is just that, you know, you need to meet more knowledgeable people and have more conversations about this space because crypto space is ever changing. There's all these projects, exchanges, things popping up, some things that go down, some things that go up. And I think at the end of the day, it's just a changing space and you just gotta do your own research and you gotta keep up with it. Remember guys, like we always say with upside mindset, do your own research, do your own DD, do diligence, you guys. Just look things up. Very dope story. Everybody for watching upside mindset, this is a series where we just sit down with successful and interesting individuals, people who have stories to tell, people who have cool projects going on. Again, we're not promoting any one of them. It's just in particular, you just have to do your own research, but we're just introducing them to people and that's all really we can do. Make sure you like, subscribe, share this video with anybody who needs to hear this info. Make sure you leave us a comment in the comment section below for the algorithm and until next time, we're out. Peace.