Wednesday, August 5, 2020

Crossing $1M in Crypto

Won't talk too much.

Just straight facts.

This is my public burner wallet.

It has ~$1M SGD of crypto in it.

More context in this previous post.

Crypto makes my networth go brrr.

Hope everyone else is also doing well.

Sunday, July 12, 2020

189 IQ Memes

Perhaps since I migrated mainly to Twitter, I have let that persona which I assume there grow a bit too large. Initially it was quite easy to segregate the blogging (serious long form with gifs to lighten up the mood) and tweeting (4chan autism) personas, but lately I have dropped the blogging persona in favor of simple convenience to churn out blog content.

However strange it may seem to you, I actually did spend a lot of thought into building my crafted persona to give it a certain uniqueness, and that has been quite good branding for me so far to catch and then retain attention, giving me a bit more weight in the space.

I have made a few appearances in some crypto-related media recently, so I thought it was be interesting and fun to list them for anyone interested in what I have been busy with.

19 May 2020 - My Two Gwei newsletter by, Degen Spartan: The extreme effectiveness of Memes, where I talk about being an "influenza", liquidity pools and the nuances of DAI vs sUSD

19 May 2020 - Blockcrunch, The Rise of Decentralized Options - Aparna, Opyn, Ep. 100, 38:43 - 39:15, tiny shoutout from Jason and Aparna about being a DeFi power user on the Opyn platform

21 May 2020 - Synthetix Blog, L2.Synthetix.Exchange OVM demo results, where my 8th placing for the trading competition was announced, getting awarded 1,200 SNX prize money

28 May 2020 - Defi Weekly with Kerman Kohli, Movers and Shakers: DegenSpartan, where I spoke a bit about my background, investing framework and some bullish and bearish picks

25 June 2020 - The Defiant by Camila Russo, Top DeFi Yield Farmers Share Secrets to a Profitable Harvest, where I had a small feature on my low-risk farming strategy of providing liquidity to the sUSD Curve pool

26 June 2020 - Bankless by Ryan Sean Adam, 5 Contrarian Takes with DegenSpartan, where I headlined the piece, giving my takes about what I think will happen to the crypto space in the future.

30 June 2020 - EthHub with Sassal and Eric, EthHub Weekly #120, 46:10 - 54:05, short discussion regarding my Bankless piece

9 July 2020, Shitcoin Praxis, Issue #1, Yield Farming for Polkaheads and also The Meme of Yield Farming, shoutout from Tamara for recognizing for my early work in the literal field of yield farming, and me explaining how the yield from today's yield farming is very different from masternodes from the previous era

This is just the visible stuff from the last 2 months, haha.

I usually get roped in to sanity check ideas, proof-read articles not written by me and lots of closed door discussions.

Of course, all of this is on top of the very regular tweeting that I do daily.

Anyway, as mentioned before, I think I will blog here even less from now on. I feel that I provide much better info on Twitter and this is just a vestige of my humble beginnings. What I post of Twitter is significantly more important and actionable than my general ramblings here.

I think things in crypto is heating up, so I'll probably be busy for the next year and a half probably. Make hay while the sun still shines. Making money is more important than flexing on a blog. It is way more important to extract out all the easy profit now when the market is still so inefficient.

The upcoming year or two (or maybe three) of hard work will probably be worth more than what I would be able to make as a normie, several lifetimes over.

My next post might be the 8 digit one, and then I'd probably permanently wrap up this blog and just move over to Twitter.

Those that seek alpha, you know where to look for me.

Wednesday, July 8, 2020

I Share My Bank Account Balance with You

Here you go, here's the link to see my "bank account". (pro tip, you can toggle between USD and SGD in the top right corner)

If you remember from last October, this is my public Ethereum address.

It functions like my own private Swiss bank account.

Only I can access it.

I can deposit or withdraw money from it,
any day,
any time,
any amount,
no restrictions,
no approvals,
no waiting,
no hidden charges.

I seeded that address about 1 year, 2 weeks ago with ~$17,500 SGD.

Anyway, I had ~$37,000 USD / ~$52,000 SGD in October last year when I made that previous post.

Now? Well, you can see for yourself.

Oh, by the way, this is my burner address that I use to do stupid shit on.

In case you were wondering why there's so little money in it.

But I suppose at this point, "little" is relative to what you've got.

Can insta-buy a non-mature 5 room BTO 100% in cash and still have leftover for reno.

From this burner account.


Wednesday, July 1, 2020

"Guide" to getting started in Cryptocurrency

So, I saw this comment on my last post.

I guess with all my flexing, I should offer y'all some help.

From degen senpai to fledgling degen kouhai.

But here's the thing.

I cannot teach you WHAT you should know. 

If I was an asshole, I would tell you to just buy my bags and pump me into retirement. Everyone on twitter knows what I own. It is not a secret. BTC, ETH, SNX, RUNE, CEL. Look, now you know too! But do you know why I hold them? When I will sell them? Why I would sell them? No. You know nothing. And if you copy trade me, you're just a blind man following me in the Labyrinth. What if you lose me? Do you know where to go next? Do you know how to escape before the Minotaur comes and get you? No. You will die. You are not equipped with the skills to do as I do. 

I repeat, I cannot teach you WHAT you should know. 

This is a persistent problem about crypto. The space is moving so fast that whatever knowledge you DOWNLOAD and SEAR into your brain today... will be obsolete in 6 months time. Actually, maybe even 3 months time.

So I cannot teach you WHAT you should know because even for myself, I am constantly STRUGGLING to keep up with the latest information and updates to what I think is relevant.

However, I can tell you that what you need to know is how to learn what to learn.

How to learn.... what to learn?

Sounds confusing and silly, right?

The thing about all investing (and even more true for crypto) is that you need a good strong process. You need to build up from first principles to KNOW in your bones what is right, and what is wrong.

Do you consult your horoscope before you buy stocks? No, cos that shit is useless.

Do you consult your charts before you buy stocks? Lol, touchy subject. Maybe relevant? Maybe not? These are the kind of things that YOU need to decide for yourself.

In crypto, you need to know what is right, and what is wrong. Since from those fundamental pieces of knowledge, your build up your thesis from there. 

And just like in "normal" investing, there is so much to study and learn.

Let me give you an example. Investing Hedgehog thinks that XRP has an actual use case in the future and has a lot of potential. 

From my personal opinion, I think XRP is a scam for brainlets that do not understand what cryptocurrency is, with sub 80 IQ and looking for a quick pump. I also think that is borderline a ponzi scheme. So as you can see, different people have very different takes on what is "right" and what is "wrong".

Who is actually right or wrong? Why? For what reasons? 

If XRP pumps next month, does it mean Hedgehog is right and I'm full of shit and have fundamental misconceptions of how the market works?

You need to KNOW such things yourself. 

If you are spoonfed "news" from crypto news websites or crypto gurus, you're in for some deep shit since most of them are insanely biased or have no damn clue what they are talking about.

Of course, new information can "update" what you thought was right to be wrong. Or what you thought was wrong to now be right. 

The WORST thing you can do is digest bullshit from people who have no clue what they are talking about.

The best thing you can do is learn about the TECHNOLOGY from ground up and reason out for yourself what makes it useful and valuable.

If you just jump into arbitraging or stablecoin yield farming, you'd probably do okay, but you won't be understanding what is going on, and more importantly, WHY these opportunities exist. In such a scenario, you are always a chaser. A follower. A sheep. You just follow the herd. They go where, you go where. If they go to the slaughterhouse? You also just follow lor.

If you want to rush head first into this space, no one is stopping you. Your tuition fees is just losing money instead of spending time to learn. One way or another, you will pay for it. Time or money, your choice.

My recommendation for people looking to join the space is:
- understand what the technology is
- put in $10-$50 to try it out first hand, send it around, store it, retrieve it

And only after you understand what you are messing around with, can you then start investing in the space.

You need to be able to sniff out bullshit and scams on your own. You need to know what makes things valuable, and what makes things trash.

Start from ground up.

Learn how to learn what you need to learn.

Throw out the trash.
Keep the good shit.

It's going to take a while.

But if you're going to do this, and do it right (make money, not give away money), like all other things in life, it requires some time and effort.

And anyone currently doing well in this space can attest to that.

The ones that aren't doing well? They can't tell you WHAT makes crypto valuable, why something is worse than something else, what fundamental reasons will cause their holdings to go up or down.

I'm sorry, but if you are "hodl only", the crypto journey is a long and tough one. It's not that "hodl" is a bad strategy, but it is the lowest and weakest strategy out of all the strategies that exist. Of course, it is also the simplest one. Requires very little thinking and ongoing maintenance. With the "hodl" strategy, the only 2 things you can do is (1) wait and (2) decide what to actually "hodl".

What if you pick absolute dogshit to "hodl"? Then your portfolio is going to zero. No amount of karma, good thoughts and positive vibes will change that.

The person that "hodls" is taking a very singular bet that whatever they are holding will eventually go up in the long term. 

If there was a reliable process and I can tell you WHAT to "hodl" from when to when, then I would also just buy the absolute bottom on leverage, and sell the absolute top to 100% cash.

But I do not know such things. If you can find a guru who can tell you that, I guess, that's good?

But IMO, such a thing does not exist.

Crypto is in constant flux and it requires time and effort to just stay on top of things. That is why I dropped normie investing. Time is a precious and limited resource and I wasn't going to waste it dicking around on stupid ass local stocks or REITs for piss returns. Normie investing had a tremendous opportunity cost for me. But I digress.

I stress again, you need to know "what to know".

Are you a short term trader? Go learn about market structure and "pumpamentals".
Are you an arbitrager? Go learn about exchanges and risk management.
Are you a long term fundamental investor? Go learn about the technical developments and how it affects value accrual.

I cannot tell you what you should know.

I can only point you in the rough direction and warn you of pitfalls and dangers.

There is no formula or step by step guide. When I started my journey, the optimal route for me back then is different for you now.

You just got to know, what you need to know.

If you dare venture into these dangerous lands, tread safely and do not rush into traps.

Good luck out there.

For anyone who has already done their homework and has left the beginner zone, feel free to interact with me on Twitter if you feel lost and in trouble. If you are nearby, I will head over and try to save you from monsters. But if your strategy to survive in this dangerous world is to call for others' assistance at every sign of trouble instead of training yourself to be able to deal with it on your own, you're not going to make it.

For as long as I am on Twitter, I will try my best to aid you and carry you.

But know that I will not be on Twitter or blogging forever. I am at the tail end of my journey. It has been extremely tiring grinding this crypto game for the past few years, but at least I can say that it has been well worth the effort so far - at least, financially.

If I get tired and decide to log out, don't count on me logging back in just to save your ass.

Monday, June 29, 2020

Many of you will regret Crypto

I made a long angsty post about something along these lines, but I decided to scrape it and tone it down a lot.

When I read the various local finblogs, it is apparent that many writers spend countless of hours learning and studying and applying their knowledge to try and make money. Many are bright, but almost all are very hardworking.

Yet the ridiculous thing is that I don't even really try very hard, yet money just falls all around me in the crypto world. I just pick it up.

It is so hard to explain how the risk/rewards are massively skewed in favor of the risk seekers in the crypto space.

And the crypto market is anything BUT efficient, so it is not only easy to make massive gains if you are right, but it is also very easy to actually be right.

The majority of the participants in the crypto space are early 20 males with zero prior investing or financial experience. They do not understand anything when it comes to the markets. It's like gambling against babies.

I personally find that the greatest tragedy in the finblogging community is the outright disgust for anything cryptocurrency related. That kind of groupthink has caused many people to dismiss the amazing opportunities in the space for the past few years.

The cause of that is partly too much mainstream media, partly too much of carrying Uncle Warrens balls. That's just my guess though.

Anyway, this topic is something that riles me up because I have heard and read to no end of it from so many people how the whole cryptocurrency thing is a scam, and how such people shouldn't waste their time and money "gambling" and they should invest in whatever stonks they are punting on so can huat together.


But I appreciate all the pushback I get that YOU CANT MAKE MONEY FROM CRYPTOCURRENCIES because it just fuels my drive to make EVEN MORE MONEY with cryptocurrencies.

I must admit, it is very petty.

I can be a petty man.

But flexing that I made more than a million bucks from bullshit ponzi rat poison internet fake scam money when everyone said I couldn't? That it's not possible?

Well, that gives me a high.

It also makes me grin from ear to ear when people attribute my success to "luck" as well, haha!

Honestly, I don't think I am very intelligent. In fact, I am I painfully aware that there are plenty of people smarter than me. But the one thing I did right, was to dare to look at things from a different perspective.

Talent is hitting a target that no one else can hit.

Genius is hitting a target that no one else can see.

 To big banks with prop trading departments and millions of dollars of that their disposal. To hedge funds with insider connections. To everyone smarter than me and with more resources than me.

I don't have to beat them by competing with them to hit their targets.

I get to beat them by hitting the target that they didn't even bother to look for or understand.

- GMGH July 2017