Friday, April 20, 2018

The Only Game I Play Now

The only game I play now is crypto.

The score is how well I do.

I used to play a lot of games. Heck, I think I was a top tier player for some of the games that I played.

I like playing FPS, since it requires way less thinking. I have dabbled is some RTS, but I am terrible, my brain processing is too slow to play on a pro level. I was playing some mobile RPGs too, but after the initial phase, I find them so pointless and meaningless.

Actually, that's the whole problem with playing games. I can dedicate hours to this "craft" and become a top ranked player with a familiar handle that other vets respect and the noobs fear, but what else is there to it? The hours I spent and the achievements I got are not tangible and non-transferrable and are pretty much stuck and locked into the game forever.

Thinking about games like that make them feel quite meaningless from the big picture. Of course, while playing the games, I enjoy myself in those moments. For the other people like me that can waste hours or even a whole day or weekend playing games to realize, "omg what did I just waste all my time on", I think it is quite relatable to feel that games are quite meaningless after a while, especially when considering how much more life can and is about.


So recently, I deleted all my games, save for the one FPS game for me to in indulge in when I get very stressed out. I just like to log in anytime I want, pop into a pub, shoot shit, destress and log out. This is usually played alongside with EDM and trap mixes. Really gets the stress out of your system.

I'm now re-focusing my life so that I can better allocate the most important finite resource that we all have to deal with - time.

With my crypto knowledge plateuing and 95% of new projects being total shit, crypto has strangely allowed me a breather and has stopped consuming the bulk of my life. With my excellent positions, I'm not worried about crypto. I'm in it for the long, fat, massive gains anyway. These short term moves are all just noise and opportunity to pick up some cheap crypto if you already don't have a position.

And with crypto almost completely replacing my entire financial syllabus, I don't need to worry about much else. Stocks? Probably won't ever touch it again. SSB? Good way to help my low-risk parents zhng their FD returns. Bonds? SG has such shit retail bonds, it's not worth the effort. Perp bonds, preference shares? Same thing. SRS, CPF VC? At the rate I'm going, I'm retiring before 40. Insurance? Pretty much done and settled for life.

What's left? Bank accounts and credit cards to zhng interest rate and maximum cashback? Meh, I just do whatever is easy and low-stress for me now. I hate hitting monthly spending minimums. I cancelled all my cards. I'm back to just using my POSB Passioncard as my EZ Link and my OCBC 365 card, which is getting an average of 3-4% monthly cashback on my spending. Coupled with OCBC 360, I get a pathetic return on my bank balance of 1.85%. Most of my liquid cash is actually in the Citibank Maxigain account which is spitting out 2% with me doing diddly shit. I would strongly recommend people to open up and use a Citibank Maxigain account for emergency funds savings.

With crypto being my only focus with regards to investments, and crypto getting easier and easier for me, alongside the rest of my personal finances getting so streamlined - because I frankly don't give a shit anymore - life is becoming much more simpler for me.

Some people like fancy and complicated lives.


I like simple stuff.

Because I'm a simple man.

(some might say also with a small peanut brain)

Things don't need to be so complicated for me, especially for the big picture.

I'll be taking things easy from here on out. One of the things that I've come to realize is that, what's the point of having all this money if I'm not going to spend it enjoying the things that I like?

Lucky for me, since I'm a simple man, most of the things I enjoy are relatively inexpensive and easily attainable stuff.

Spending time with people I cherish. Making them happy. Looking after myself, physically and mentally. Learning new things. Challenging myself. Travelling when I start to feel stifled. Eating delicious food ever so often. Giving back once in a while.

Zen.

Relax.

What needs to be rushed? Other than work deadlines, nothing, really.

I think I might be reaching peak "I Don't Give a Shit" enlightenment very soon.

This post makes it sound like I'm retiring from blogging, but I can assure you that I'm not - yet. One of the things that I really quite do enjoy is blogging and getting out all these thoughts into writing. It is strangely therapeutic for me, and hopefully amusing, entertaining and maybe even educational for you.

Plus, I can't retire just yet until my crypto portfolio is worth millions, because I need to pleasure myself by annoying the shit out of all the haters.

Here's to me living the simple crypto life, and enjoying the hell out of it.

Wednesday, April 18, 2018

World's 14th most popular site now accepts cryptocurrency

Boasting monthly pageviews of 3,608,000,000 views per month, this is a massive website.

Ranked 7th in the USA and 14th globally based on SimilarWeb (Alexa puts it at 16 and 34 respectively), this website is only trailing behind mega global heavweights like: Google, Facebook, Youtube, Baidu, Yahoo, Twitter, Wikipedia, VK and Instagram.

It is actually ahead of websites like Yandex, Live.com, Amazon, QQ, Taobao, Reddit, Ebay, Netflix and Naver.

I think you might know it.

It is....



Pornhub.

I would show you the sign up page, but it's super NSFW. You still can click it if you want (NSFW).

As much as I shit on Verge (XVG) as a shitty currency (it still is), this partnership is huge and impressive.

*cue the "that's what she said" joke*


Seriously.

I mean, 3.6 BILLION monthly pageviews, that's pretty sick. That's 120,000,000 pageviews a day. That's freaking 83,000 people every damn minute. People that don't know or haven't been exposed to cryptocurrencies might slowly find their way into crypto now with this big partnership. Plus, with XVG considered a "privacy" coin, I can see how people would prefer to pay for their premium porn subscriptions to something that cannot be easily linked back to them.

As Ivan on Tech was saying, this is a pretty big thing for the crypto space. You don't need to like or to own XVG to be able to admit that this is a pretty big deal. The porn industry have been pushing the frontiers of a lot of technology, such as VCRs, e-commerce, streaming services and affiliate marketing. It's not surprising that porn has been quite accepting of cryptocurrencies and have embraced this seriously mindblowing technology.

Slowly but surely, cryptos will be adopted.

Not just for paying for premium porn, but for everything.

Not because I say they will be, but because it just makes sense.

"You don't have to understand it or like it. You just have to accept that this is the future"

What the IMF Head thinks about Crypto

Even the IMF Head understands that there are good stuff about crypto.

Summarized:

1) Fast and inexpensive financial transactions
2) Self-executing and self-enforcing smart contracts eliminates the need for some intermediaries
3) Secure storage of information (ability to give permissioned access to confidential data)
4) Increases asset ownership rights in places with subpar record keeping

Admittedly, she did come out with another post a month ago about the negatives of crypto, it is clearly obvious that the IMF have been studying virtual currencies quite intensely.

One important point that I find her post missing, almost on purpose, is regarding that view that (at least the legit ones) virtual currencies are a form of private money, which is free from government intervention. The monetary policies of these currencies are fixed and abided by, and they can, and (in my opinion) probably will be a superior form of money and store of wealth compared to fiat and many non-tangible assets.

In my view, I think that her "vision" of the future is rather accurate, where both traditional finance and future fintech ideas will co-exist and neither will reign supreme and eliminate the other. We have propertyguru and online insurance portals, but for goodness sake, we still have property and insurance agents. Why? For the uneducated, the lazy or the people that are willing to pay a premium to not do it themselves, of course.

However, I do believe that before I die, virtual currencies will be the preferred currency for international trade and wealth saving. It is only natural for people to gravitate to the actually scarce and limited asset compared to the infinite one, if both offers extremely similar utility (which obviously, virtual currencies have not reached those levels of utility yet, but they are catching up, FAST).

I'm way past the "It's okay to speculate, just put in a small sum" stage of crypto investing.

I am unashamed to say that the majority (more than 50%) of my networth is in cryptos and I am happily keeping it that way.

Tuesday, April 17, 2018

Does IMDA think that crypto is a scam?

MFW people say crypto is a scam.


IMDA would like to disagree with you and offer hundreds of thousands of dollars for winning blockchain ideas.

Here's the PDF factsheet which is more detailed.

Got a good idea? Toss it to them and make it to get $50k or $100k.

Here I am spreading the good word about crypto and people look at me like I'm the crazy one.



I personally find it amusing how the MAS Managing Director spoke about Gresham's Law during his speech last month. That does explain a lot why people hoard the most valuable cryptos instead of spending them, doesn't it? Hehe.

People ask me, is crypto a scam?

I'm not sure. What do you think?

Monday, April 16, 2018

Sold some DGD

Just btw fyi.

Sold some DGD a while ago.

Yes, my previously most bullish position that I have shit tons of.


+225.93% profit in ETH.
Lowest lot sold was 202% profit, highest was 336% profit.


Why am I highlighting this?

In Jan I said that : "To be completely frank, I have almost no ETH. I spent it all buying DGDs at ridiculously cheap prices. Stupid move? We shall see about that soon. After DGD finally makes it move and it is no longer cheap, I will continue stacking ETH."


This is me doing just that.

I'm not abandoning DGD. I still have a lot of DGD left, but I decided to rebalance my portfolio because my DGD position had ballooned too big. This is a happy problem of making too much money. The ETH gainz were too sick to resist not banking some profits.

200-300% returns in ETH for a 3-6 month "fixed deposit"?

Not bad.


"GMGH, are you selling to USD?"

Nope, I've sold to ETH, because imo ETH is deliciously cheap af. You do know that my average USD buy in price was $60, right? You can do the math yourself to calculate the fiat gains. Even now at these depressed $200-$250 prices, it's pretty respectable.

Admittedly when DGD was at $600, I could have sold for more than double the current fiat price, but then the ETH ratio was only ~0.5. I managed to sell at a ratio approximately 35% higher than that, which means I got 35% more ETH.

Don't get me wrong, both USD and crypto returns are important. Obviously it's best to win on both fronts. If I was cashing out, USD returns is more important. If I'm a happy stacker and think that crypto prices will go up in USD, I'll gladly take the crypto profits. As long as I'm not down on both fronts, things aren't that bad.

In a nutshell, I'm keeping my profits in ETH because I think ETH is gonna go up from here.


Can ETH go lower to $300? $250? $1? $0?

Sure, why not? (Possible and probable are 2 different things.)

This is crypto after all. It's a dangerous world out here.

Don't get rekt like me lads, do stocks or some other stuff.