Something Weird Happened
A few weeks ago, someone created a token called $KMIKEYM on bags.fm.
I didn’t ask for this. I didn’t authorize it. I had nothing to do with it.
It felt like a scam. People were reaching out telling me about “free money” (never a phrase that inspires confidence). I researched the platform. The co-founder built a previous app that got a $5 million FTC fine for deceptive practices. The main “founder” is anonymous. The fee structures are opaque. The whole thing looks like a giant “exit scam.”
So with my paranoia riding shotgun, I set up a new crypto wallet and claimed my “Bags.” I sent it immediately to Coinbase and cashed out. When the money hit my bank account I realized it was real.
Then more came. And more.
As of this writing, I’ve earned over $20,000 in trading fees from a token I didn’t create on a platform I don’t trust.
And here’s the weirdest part: the community is actually fun.
Let’s Be Clear About What This Is
Bags.fm is a memecoin casino. People launch random tokens, hype them up, pressure people to claim the money, then dump them. I would suspect that most memecoins in the world are scams… And in this case the platform itself is sketchy. Anyone can create a token for a creator without permission, then psychologically pressure them to “claim” the accumulated fees. The founder’s previous app was shut down by the FTC for fake messages and deceptive monetization.
But the people are great! They seem to know it’s a casino. But they want it to be real. It’s like professional wrestling. They’re not idiots, they are just fans. This is their culture.
And somehow, they discovered KmikeyM. They got excited about an 18-year governance experiment in ways that took me years to explain. They started asking questions. Running polls. Making memes. Having actual conversations about shareholder democracy versus speculative trading.
So here I am: getting paid by a sketchy platform to engage with a community that formed around a token I didn’t launch, while constantly cashing out because I don’t trust any of this to last.
This is the contradiction of our modern financial world.
Important: There are already copycat $KMIKEYM tokens trying to scam people. I’m not advocating anyone trade this. But if you’re already in that world and understand the risks, this is the official address.
What is KmikeyM (for degens)
I sell shares of myself. Shareholders vote on my life decisions and get dividends when I succeed. Since 2008, about 1,200 people have bought in and been voting on everything from career moves to where I live.
We built it by hand. No viral launch. No pump. Just 18 years of slow, intentional community building.
This launched nine months before the Bitcoin whitepaper. I think KmikeyM comes from a similair place as the launch of crypto. I wanted to experiment with markets too. What if we, as people, had access to all the tools of the financial system? Well, it turns out you can just build things. Today we can have markets for anything we want.
Two Speeds, Same Experiment
KmikeyM is slow by design. Deliberation and accountability are built into the structure.
- Shareholders debate in comments.
- Votes stay open for days.
- Big decisions take months.
Over 17 years, I’ve grown deep relationships with active community members. We’ve become friends, I’ve stayed in their homes, and I trust them.
The degen world moves in hours. When I wake up I see my coin price dipped when I slept.
For 17 years, I only had one speed. I tried fast votes and casual polls, but the system was designed to be methodical. And that worked. It shaped my long-term thinking in ways I probably don’t even fully understand.
Now there’s this insane energy from the crypto contingent. They make demands. They jump in on polls on what movie I should watch tonight. They want immediate engagement and they want it all the time.
And I like it.
What I’ve Been Doing
I’ve decided to treat this like a part-time job. They’re paying me (via trading fees), so I’ll engage with them.
My favorite example: I asked them what movie to watch. The poll tied. So I watched BOTH movies at the same time. Weird, fun, and it highlighted how formulaic Hollywood films are when you see two running in parallel.
The money has slowed and I keep cashing out immediately because I still don’t trust the platform. But the community? They’re genuinely excited about the idea of KmikeyM in ways that surprise me.
The fast game is rapid, chaotic, advisory. The slow game is permanent, powerful, governing.
Having both keeps me consistently engaged. And because they’re split into two communities, there’s no obligation to engage at a speed you don’t want, but of course you can cross between them whenever you want (except, oh my god, be careful about the coins).
The Proposal: A Bridge Between Worlds
Here’s what I’m proposing to shareholders:
What percentage of my trading fees is used buy to KmikeyM shares?”
This isn’t about individual holders. It’s a bridge at a community level. More trading = more shares purchased = upward pressure on share price. It also shows the fast chaotic memecoin crowd what permanence looks like.
Even if $KMIKEYM coin goes to zero (likely, honestly), the shares remain. A permanent record of this weird moment when a memecoin casino discovered an 18-year governance experiment.
The Vote
Shareholders decide the percentage: 3%, 5%, or 7.5%.
Here’s my thinking:
- 3% — Symbolic stake that limits degen influence
- 5% — My instinct for the right balance
- 7.5% — Price push to put more buying pressure on shares
Why not more? Well, I want to get paid. I’m not donating everything back to KmikeyM. But the bridge matters. It’s an invitation for degens who want to join the slow game, and it gives shareholders an upside from this weird income stream.
For Degens Reading This
You found something real. KmikeyM has been running since before Bitcoin existed. We built it slow and we built it to last.
Your trading will now help fund this experiment. If you’re interested in more than just the coin you can buy some shares, start voting, debate strategy, and see what happens when you apply financial market tools to a human life.
And on this side the shares don’t go to zero when hype fades. That’s the point.
For Shareholders Reading This
A new community discovered us. A chaotic, fast, group of hype monsters that speak their own language and constantly shift their attention. They’re also paying me real money to engage with them, and some of that money is about to buy KmikeyM shares.
This vote determines how much. It also determines how much you want this energy integrated into our world.
Some of you will see this as a distraction. You might be right. But we’ve spent 18 years experimenting with community and finance, and they showed up with both.
The anniversary of the first trade on KmikeyM is today! We’ve built something slow and durable. Now we’re adding a fast chaotic layer on top.
The Contradiction I’m Not Resolving
Straight up, this is a sketchy platform in a sketchy part of the sketchy crypto world. I cash out constantly because I don’t trust any of it.
And yet: the community is fun. The conversations are real. They’re excited! The money is real.
I’m accepting the contradiction. And I’m not asking you to resolve it. I’m asking you to vote on how much of a bridge we build between the chaos and the permanence.
Different speeds, same experiment. Let’s see what happens.