Wednesday, November 29, 2017


Holy moly.

Went from $10,000 to $11,000 in just 12 hours.

This is getting giddy.

Can't say that I'm not happy about it though, LOL.

Bitcoin $10,000

Non-believers be like:

Crypto holders be like:

GMGH be like:

(btw, btc broke above a resistance on the LOG scale, this shit is getting cray, lol)

Tuesday, November 28, 2017

Bitcoin is in a BUBBLE?!?!

Do you own any bitcoins?

Do you know how to buy any bitcoins?

Do you know anyone that owns any bitcoins?

Do you know anyone that has invested more than "play money" into bitcoin?

Are you planning on buying any bitcoins?

Do any of the people that call bitcoin a bubble: have any, used any or know how it works?

So bitcoin is in a bubble?
Please, tell me more.

(It's easy for me to be this cocky with crypto pushing all time highs. But then again, it has been doing so all year, and I believe it will continue doing so for quite a while.

To be fair, I am expecting a correction in the crypto space soon, but its because of profit taking and whale fighting in preparation for futures, NOT from a "bubble" bursting.)

Sunday, November 26, 2017

Worst ICO Picks for 2018

When it comes to picking bad ICOs, the best way to do so is to follow a list, like the one written by Inc. Lol. Seriously, if you guys bought based on a list by some website, you deserve to lose your money.

1. Cypherium
2. Rentberry
3. Loci
4. Trippki
5. RightMesh
6. Experty
7. NAU
8. Coinlancer
9. FansUnite
10. Giftz

As someone that is almost 24/7 plugged into the pulse of the crypto world, I have heard of NONE of these ICOs until I opened up the article.

Good gawd.

People flipping ICOs, beware: the good golden days of buying trash and dumping it on the exchanges at a profit are long gone.

Recent blowout ICOs?

Too many to count.

and the list goes on and on and on.

MOST crypto projects WILL fail.

Good luck if you want to play, but no one will cry over your corpse if you get pwned.

Caveat emptor.

Saturday, November 25, 2017

Saturday Humour: Socialism is the fix!

I saw this post and just wanted to share it, because I'm sure it'll trigger some people.

I realized that my distaste for socialism is natural - there are no Austrian socialists.

It's like looking for a vegan wearing a fur coat.
It's like looking for a non-smoker with cigarettes on hand.
It's like looking for a bitcoin maximalist that owns lots of bcash.

It just doesn't happen because of extreme ideological conflicts.

2017 has been an interesting year of enlightenment for me.

2018 is lined up for a lot more things for me to continue on learning and improving, and one of the smaller goals is to do much more reading about Austrian economics. A good start would be to find the time to revisit one of my favourite books, "Why Not Capitalism".

Sometimes I wonder if I'm too fringe. Then I realize, it doesn't really matter, as long as I'm happy, haha!

Friday, November 24, 2017

You and Your Fiat Money

And people somehow think that I'M the crazy one.

Thursday, November 23, 2017

Calling out Motley Fool's "Bitcoin Expensive To Keep Safe" BULLSHIT

This article gave me cancer.

Cute disclaimer of "If you're not technologically inclined....".

Q: How much does it cost to store bitcoin safely?
A: Between $0 to $110.

How? A free paper wallet.

Doesn't feel safe that it's on a piece of paper?

Encrypt it with a BIP39 passphrase.
Laminate it.
Make a copy.

Not good enough?

How about $100 for one that is made out of metal, which is fireproof, waterproof and shockproof?

Not user friendly enough?

How about $110 for hardware wallet that you can just plug into your computer?

Not to mention the multitude of options for software wallets for both your computer and handphone that you can download for FREE.

Not to mention multi-sig options as well.

$0 - Paper wallet
$0 - Handphone Software wallet
$0 - Computer Software wallet
$100 - Actual Hard wallet
$110 - Hardware wallet

I'm legit annoyed by this bullshit. 

Now, do you want to get real cancer?

You can buy their "Crypto Edge" guide for $249.





I guess whatever sells their "guide", right?

Pure Cancer.
Stage 5 Cancer.

Here's to calling out bullshit, especially for the people that should know better.

Keeping it real,


Wednesday, November 22, 2017

Overstock CEO Gets Bitcoin. Do You?

Here's the article. It comes with a nice 11 minute video interview too as well. Just gonna pull out my favourite bits from the article, because I'm lazy to transcribe (the video is better than the article itself though).

You think that’s a bubble? What do you think that fiat currency you carry around in your purse is?

It’s about time the world switches to real money. Either gold or bitcoin.

The real question is not how high can bitcoin go. The real question is how low can fiat currency go—and at the end of the day all fiat currencies have gone to zero and that’s because they end up with irresponsible money printing.

We have all these currencies since Bretton Woods, fluctuating against each other, and maybe the dollar hasn’t gone to zero against these currencies but all of them have gone down 95% ... versus something that they can’t control like … gold and bitcoin. So bitcoin may be on its way to a million for all we know.

Tuesday, November 21, 2017

Calling it the "Tether Top"

3 hours 20 minutes after my warning about Tether this morning, this happened:

Reddit version here.

Which led to this:

Though this announcement isn't exactly the level of implosion I was expecting, it smells and reeks of a cover up. A "hack" is very reminiscent of the Mt Gox story. As a reminder, Bitfinex got "hacked" in August 2016 and lost 120,000 BTCs. That was valued at $72m back then, but it's worth a whooping $960m now.

I was hoping for something bigger. Like Bitfinex freezing all BTC withdrawals and halting all USDT pairs, or something of that level. Would be nice if Bitconnect can implode together too, drain the swamp in 1 shot. But I guess that's another fantasy for another day.

Anyway the days are long and crypto days pass by even faster. I can totally see the situation getting worse in the near term.

As per my previous post, I advise the following:

1. Do not use Bitfinex.
2. Do not hold any Tethers. If you do, exchange them for something else.
3. Do not keep ANY funds on any exchanges that has USDT parings - they may suffer collateral damage.
4. Familiarize yourself with escape routes - cashing out / stable coins.

Although this doesn't prove that Tethers are worthless, I would say the red flags are everywhere. Proceed with extreme caution.

The BIGGEST risk in cryptos right now

It's not government regulations. (China failed)

It's not a mining revolt. (BCH and B2X failed)

It's not for being called a ponzi, fraud or a scam. (DBS CIO whateva his name is, Dimon, Buffet, etc etc etc)

It is the $600M USD giant white elephant in the middle of the entire freaking room named Tether.

Tether is a crypto representation of 1 USD stored in a Taiwanese bank account. Supposedly. There has been no audit on their assets.

Tether is NOT claimable for actual USD. Their website does not allow you to exchange Tethers for USD.

Tether started out 2017 as a $10M problem. It is now a $674M problem, and growing.

If you do want to know more about this whole Tether conspiracy (it's looking more and more like the obvious reality though), check out this Twitter account and all of his tweets to learn more.

How are Tethers created? Beats me.
How are Tethers redeemed? I have never come across anyone that has actually redeemed it.
Have people tried to redeem Tethers? Yes, many, but no one has successfully done so.

It is extremely likely that these supposedly backed and redeemable coins are actually, in fact, NOT backed by USD and also NOT redeemable for USD.

Whether Bitfinex and Tether blow up today or tomorrow or never, it's anyone's guess.

If crypto has a stablecoin that has enough cross pairs for people to trade into BEFORE the blow-up, I think crypto world will not be rocked so hard.

If crypto does not have a stablecoin, I think we can see a pretty nasty bear market til the death count can be accurately accounted for.

Stablecoin projects like Maker's Sai / Dai and DigixDAO's DGX cannot be needed any sooner.

What am I doing to mitigate the risks?
- No more usage of Bitfinex
- Avoid Tethers like the plague
- Quick trades and cleans sweep of exchange accounts with USDT pairs
- Familiarize and set-up myself to be ready to make use of crypto stablecoins when they launch

I have no idea how it ends, but I think the evidence is clearly pointing that a blow up is inevitable.

Sunday, November 19, 2017

19 Nov 2017 Crypto Thoughts

Just gonna plop out some mental crap that has been clogging up my brain's mempool for a while. Hope anyone picking my thoughts can pick up something interesting.

Bitcoin is a trustless, uncenorable way to transfer payment information and balances.
Ethereum is a trustless, uncenorable way to transfer all types of information, INCLUDING payment information and balances.

Monero is what normal people think Bitcoin is.
Monero is what shady people that use Bitcoin need to actually use instead.

Banning cryptocurrencies because it can be used for money laundering is like banning the internet because terrorists can send each other emails.

People used horses for thousands of years, until the car.
People used paper money for hundreds of years, until cryptocurrency.

Tokens that are securities are one of the easiest and best use cases of blockchain.
Securities (shares, bonds, etc) WILL be tokenized and will be legal.

Token holders may NOT have any legal recourse NOW, but that WILL change with the tokenization and securitization of everything.

Classifying all different types of tokens as the same thing is like classifying all modes of transport as the same thing. Cars and donkeys are different, much like many types of tokens are different from each other.

Once there are clear legal frameworks for tokenized securities, the majority of tokens will be clear-cut, straight-up crypto versions of shares trading on stock markets now. (profit sharing + voting)

Project Ubin mentioned blockchaining bonds and settling payments - clear and straight forward use case.

95% of all crypto will end up being *close to* worthless. Blockchains don't die easily, but their value and usage do.

Market cap is a very very fragile metric. Give me a few thousand dollars and I can move the market cap of some coins by several million dollars.

People betting on alts hoping for it to become the "next Ethereum" are smoking some crazy shit.
Same as the people betting on alts hoping for it to become the "next Bitcoin".
Bitcoin and Ethereum already exists, why do you need the "next" one?
(For clarification, I am referring to overall development and community, not price speculation. There is obviously more profit percentage-wise to be made gambling on small alts.)

Many traders are looking only at upsides and ignore the downsides.

Many traders have never even used or sent crypto on its blockchain - they have only traded it on centralized exchanges

Many traders are going to end up holding extremely heavy bags of quickly becoming worthless alts, using Noble logic - "it has dropped so low, it can't possibly get any lower, can it?".

Many utility-only tokens will end up being worthless.

Many of those projects MUST screw over their token investors and choose to accept ETH as payment in order to survive.

Or else they must partner up with someone that can offer services along the likes of Kyber to instantly accept ETH from users and get it converted to their utility tokens to be used natively. Either way, the value of those utility tokens will be very much muted due to there being no intrinsic value of holding the tokens, since it would be preferable to just purchase the required tokens on the spot, as per demand and usage dictates.

Proof of Stake will likely be the new "proof" model of the future.

That said, Proof of Work will not die easily.

It makes much more sense in 95% of scenarios to just buy the coin instead of mining the coin.

Ethereum's success will be determined by how it reacts to new and objectively more technologically advanced blockchains, and retain and incentivize developer talents, and general adoption of its blockchain (both public and private).

If Ethereum can manage to fend of newer blockchains until sharding goes live successfully, they would have won the decentralized application race for the foreseeable short term future.

Proof of Stake + Sharding will create MASSIVE global FOMO of "investing" in crypto-currencies and could be one of the things that fuels real, mainstream adoption and gets widespread usage.

Cryptocurrencies will spark a "renaissance", where the new generation questions the need, trust, reliability of all 3rd party institutions and roles in both commerce and society. Corruption will be highly scrutinized.

Adoption of crypto will also spark the general public demanding that central banks and government run monetary policy better as parallels with unlimited fiat money vs deflationary cryptos are drawn and understood.

Mass adoption is still extremely far away.
Most people have only heard of Bitcoin. Almost none can name more than 3 other cryptos.
Of those that own cryptos, many are only lightly invested, "testing" out the market.
Of those that own and trade cryptos, many don't even know what their crypto is used for, other than speculation on price.
Institutional money has almost no legitimate way to get exposure into this new "asset class".
General public understanding of crypto is close to zero.
General public WANTING to understand crypto is even closer to zero.

We are STILL in the early adoption phase.
Prices WILL flop around like a fish on land.
People who are now owning the 5% of crypto that survives the next several years of culling, will be the new class of wealthy.

These are just my views on cryptos at this point of time. Lots of things can change on a dime, and I am learning new things every single day.

Crypto life, best life.

Thursday, November 16, 2017

Project Ubin Phase 2: MAS and 11 Banks working on Crypto, I shit you not

There will always be disbelievers, but I am not fazed.

Here is the MAS media release regarding open sourcing the Project Ubin Phase 2 findings, and here is the full PDF report.

MAS even has a page for Project Ubin.

Anyway, here are 2 screenshots of things I wanted to point out:

Page 52: "Future phases of Proj Ubin could focus on a decentralized bonds payments system, which could be supported by MAS and the participant banks with execution driven by SGX. This could delivery a more efficient fixed income securities trading and settlement cycle through DLT."

Didn't I say that securities are one of the lowest hanging fruits, along with value transfers?

Questions? What is DLT? Answered here, along with why a national currency will never be issued on a public blockchain, but more likely on a private blockchain compatible with public chain communication.

What's the price of Ethereum today? $328 USD
Last week? $310 USD
Ooo, 1 week 6% gains.

Anyway, I'm already in. I don't need to be sold.

I'm just fanning the flames of FOMO for everyone else.

But sure, continue thinking it's a fraud and a bubble. I don't make any money convincing people to read and learn more about all of this.

Monday, November 13, 2017

Warning: Browser Mining Experimentation

Dear all,

I would like to announce that I am experimenting with browser mining.

What is browser mining?

Well, when you surf around my blog, a "miner" will use up a fraction of your computer's computing power to help calculate some operations.

No worries, I have limited the mining to only 2 threads and only 30%, so if you're running a decent computer, you shouldn't even notice it!

Our course, I am mining cryptocurrency.

For those curious, I am mining Monero (XMR), which is one of the few cryptocurrencies that can still be mined using regular computers, without a huge handicap compared to specialized mining machines or expensive graphic cards. Monero is one of the few cryptocurrencies which I am very bullish about.

It's just a fun experiment for me to try out.

Leave me comments if you notice that the site is laggy when you are browsing and I'll try and tweak some settings.

Saturday, November 11, 2017

Crypto 11.11 Thoughts

Just a week ago, I wrote a post regarding the Alt-mageddon that was happening at the time - BTC was heading higher into the fork and alt coins were languishing badly. My final conclusion? Alts were cheap, and they should be bought, rather than chasing BTC at all time highs.

One week on, and what do we get? A perfect bottom call, hehe.

Just a sample of 4 of the alts that are quite popular: OMG, PAY, LTC and ETH.

At that point of time, BTC was at 6,800 and now we are back at 6,800 again. I did say "...BTC can easily blow past $7,000 and hit maybe 8k..." and we actually did go all the way up to $7,950.

The call-off of the fork is both a good thing and a bad thing.

Current crypto traders would now all be leaving BTC to go into extremely cheap and depressed alts at extremely oversold levels.

However, at the same time, fresh money (mostly from private hedge funds) that have never bought crypto before and had been waiting for weeks due to the fork uncertainty finally have the "all-clear" sign that the BTC community would not be fractured. This means that the big money would be coming into BTC.

I did mention that big money can ONLY flow into BTC, maybe some ETH and a minimal amount into LTC and an extremely insignificant amount into small alts. Most of them don't have the mandate to go into anything other than these, and even if they do, the markets aren't big enough to absorb big orders yet. Big traditional money is unfortunately still locked out of alts.

Unlike traditional markets where the HFTs run the show, in crypto it is still the whales and liquidity that makes or breaks a market. If I was a whale, which money would be easier to eat? Crypto investors moving into alts at all time lows, or fresh meat jumping onto the BTC wagon?

My take is that the easy money is killing the new BTC boys who are coming in with old rules for old assets. There are no traditional markets with the volatility of cryptos, and that is what you would use to shake out all these people from their positions. Huge spikes on either side will kill off positions by traditional traders, and that is what we saw. Post-fork, there was a BTC 4H candle that had a range of 12%, lol.

That's one way to kill new traders and make a ton of money, haha.

There's also the BCash conspiracy about taking over BTC and whatever. I actually would like to see an attack on BTC to see how resilient it actually is. But this BCH thing feels more like a massive pump and dump, rather than a realistic takeover scenario.

Moving forward, I expect BTC to head lower and shake out a lot of the new people that came in post-7000. I'm prepared to go in at 6200, 5500 and I'll prepare the kitchen sink for 4800. The way that the BTC market is progressing, a 40% drop is like a complete market catastrophe and probably a good drawdown level to consider entering hard - at least, I would be. Hence, the 4800 kitchen sink level.

Of course, BTC could just continue blowing up again. Really, who knows? BTC has been a dip buyer's dream come true, and I honestly suspect that it will stay that way for some time. Risk adverse entry points would be the RSI30 on the daily chart, which has proven to be exceptional entry points. More risky people can consider the same thing, but on the 4H charts.

I have bought on both those entry points, so my BTC purchases are currently in heavy profits.

What about the rest of the market? Ethereum has been grinding the 300 range for the longest time. I'm inclined to believe that the 300 resistance level has actually turned into support now. However, if BTC does get toyed around with, you can be assured that most of the alt markets will drop as well. However, considering the fundamentals of ETH moving forward, I am pretty bullish and I try to aim my accummulation around the 300 levels.

IF, and that's a big if, a few major dapps release on the ETH ecosystem over the next few months, I think that ETH would likely break away from mirroring BTC's up and down days and will instead, finally go off and do its own thing. I think that this is very possible, given the lineup of dapps reaching mainnet launch phase. Upcoming dapps to go live are as follows: Maker, Augur, DigixDao, Melonport and Kyber.

While the stupid money is chasing ICOs and playing chicken with ponzi coins and HYIPs, I believe that the smart position to be in is to wait in some of these extremely promising projects that currently have no hype because they aren't live yet.

For smaller alts, especially the ERC20 ones, I expect their prices to flop around like nobody's business until they hit/miss their own major milestones. For promising projects, a delay of a major milestone could be a great opportunity to accumulate on the negative sentiment, as long as you can strong confidence that they will eventually deliver and it would be good. 

However, I also do think that the cards are lined up that we could see an alt rally that lasts several months. This depends if BTC just generally trends lower, or would be called-off if BTC's price is killed.

Regardless, I feel it's unlikely for legitimate alts to go much lower from these levels.

My base case scenario is for BTC to trend lower and bounce around 6000-7000, for ETH to slowly trend up towards $360, and for the alts to all slowly but surely trend higher. That is the playbook I have right now. But considering how fast the market moves in crypto, I could change my positioning if the situation warrants it.

My advice for long-term crypto investors (3-5 year hold)? Don't buy shitcoins. Long-only strategy. No leverage. You might not make as much money as shitcoiners, but you have massively greater odds of not dying and still coming out good.

This is a pretty "technical" post, with a lot of numbers here and there, which means absolute mambo jambo to most people, but meh, this blog is also a place for me to think outloud.

There are plenty of fundamental reasons for crypto to continue going up and up and up in price, but that's not for this post today. I'm entirely convinced about the future of crypto, but I don't want people to think that there are no risks involved and buying and investing in them would make them rich. If you have problems looking at -2% positions on your stocks, you are gonna shit blood all over yourself when you see your portfolio drop 10%, in an hour. In crypto, scared money don't make money.

Stay safe in the wild wild west. The path to crypto glory is littered with dead bodies of noobs.

Friday, November 10, 2017


It's a crypto meme, but I thought I'd just use it since I've gone full crypto-retard anyway, hue hue.

So I see that now at market ATHs, some markets are showing bad signs, especially with junk bonds leading the way, the usual leading indicator.

I seriously hope that these cracks really lead to what I've been waiting for. Yes, I am a financial asshole.

The stock market is a ridiculous shit show for the last few years that I had been forced to play with. I hated playing it, but there was no other game in town.... that I knew of.

Insane valuations for so many stupid companies. SNAP FREAKING CHAT? TWITTER? GO "CAMERA ON A STIK" PRO? I can't even. It's an insult to my intelligence. The whole US stock market is an entire joke.

Bitcoin is a bubble? Please, look at the damn US stock market and tell me that it ISN'T in a bubble.

Ever since I discovered crypto and realized that I actually have LESS risk with MORE reward in crypto compared to the stock markets, I put my money where my mouth is at and I exited almost all of my stocks, unit trusts and bonds.

And of course, like the brazen young fool that I am, I plowed it all into crypto, and I've no regrets so far.

My past few months of investing in crypto has SIGNIFICANTLY more returns than the rest of my investing career. It's sounds crazy, because it is crazy.

Sure, it could all go poof because it's just magical internet money backed by nothing, right? Lol. 90% of you guys STILL don't get what crypto is, and that's okay. By the time the majority of people finally do get it, or roughly understand it enough to know that its legitimate enough to buy into, I'll already be a full-fledged millionaire. I'm confident by the time I'm 35, easy peasy. It sounds ridiculous even saying things like this, but really you have no idea how freely the money flows in crypto land.

I know so many of my friends who are bankers, yet ALL of them have zero clue about cryptos. It's not that they aren't smart. These people are probably the smartest people I've ever met. It is that they have never even bothered to give it a serious look with all the tulip-bubble mainstream media shit talking.

Don't get me wrong. I don't want people flooding into cryptos without knowing what they are doing. However, what I do want to change is the perception that cryptos are poofy worthless unbacked internet magic money. It saddens me when I hear very intelligent friends I know just write off the whole thing as tulip-bubbles.

Anyway, whatever. I eat the cake I bake. And you don't eat the cake that you don't bake. If cryptos crash, so be it. It's not like I don't know that this is the risk of going into cryptos. But in this short span of a few months, I've already been through 40-80% crashes more than 5 times already. And if you guys know me, you also know that I have freaking big balls of steel and damn stronk (not a typo) hands. I have to attribute my dip buying and holding skills to investing in gold for all these years.

The future for cryptos keeps looking brighter and brighter, and my portfolio along with it.

You guys can never say that I had a good thing that I didn't share.

But seriously, the stock market is looking toppy af. I'd short the shit out of it if I didn't have crypto.


Good luck with stocks guys. If you are looking for something less risky (but more volatile) with strong fundamentals, please consider learning more about crypto, lol.

Okay enough trolling. Good night for now.

Monday, November 6, 2017

Gold vs Digital Gold (Bitcoin) Part 2

As a following up from my previous post regarding gold vs bitcoin. Also, the same tweet as the past post.

Saturday, November 4, 2017

Gold vs Digital Gold (Bitcoin)

As someone who has physically owned precious metals for years, I think I am in a pretty good position to talk about precious metals as an investment compared to 95% of other investors who have never touched it before, or only own it through chance / luck through some ETF or unit trust holding.

Also, as someone that owns his own private key on the Bitcoin blockchain and has more than 1 BTC, and have actually made multiple transactions using the blockchain, I also think I am in a pretty good position to talk about Bitcoins compared to 99.8% of people who have never owned a Bitcoin, and probably more than the entire new wave of "investors" who own bitcoins but have actually never used it or made a transaction before.

When I first came across and learnt about bitcoins in 2013, I dismissed it as magical worthless internet money. Even back then, it was frequently compared to gold. The problem about bitcoins back then was that there was no infrastructure and it was all so underground and technical. It was not an easy or friendly thing to get into either.

Now in 2017, after seeing how much the underlying technology has developed and expanded (Ethereum), bitcoin is still going on strong as the world's first truly international, censor-proof and opt-in banking and payment network system.

Bitcoin has legal status in a few countries. Laws and regulations have been passed to consider it a currency, or at least not to regulate or ban it. There are decent levels of merchant adoption, which is growing, along with payment acceptance services for it.

Gold though, largely has its historical record and permanence that grounds its value as a store of wealth. All games in the world use "Gold" at the premier in game currency and even little children can tell you that gold is money. There is something intuitive knowing that you need to grab a pickaxe and head to the mines to get out a mine piece of gold that makes it worth so much.

Bitcoin mining is frequently compared to gold mining and incorrectly (personal opinion) equate that the time and energy exchanged in mining is the base cost of bitcoin. I find this argument extremely weak. Why? If the total bitcoin network was at 1 old desktop sitting in a basement instead of the hundred of thousand of specialized bitcoin mining computers in huge farms across the globe, it STILL produces the same amount of bitcoin. Adding MORE hash rate to mine bitcoin is extremely different from opening several new mines and hiring more miners - you actually get a total output increase in the gold scenario, while the bitcoin scenario yields no increase in output.

Anyway, I think that's a pretty important difference regarding actual gold mining and bitcoin "mining".

The marginal cost of new gold supply is literally the mine with the lowest mining cost. The marginal cost of new bitcoin is.... erm time? Sure, the actual formula has difficulty adjustments every 2016 blocks and stuff like that, but really, more hashing does not equal more bitcoins, which is why I only like to loosely compare bitcoin mining to real mining.

The more important relationship is actually regarding supply. Both gold and bitcoin has a fixed supply. The theoretical maximum supply is the most important thing regarding both gold and bitcoin.

It is important to know that what you own can NEVER EVER be faked, or simply "created" into existence. This makes what you have as a unique piece in this entire set of objects. You can't just print or create more into existence because it'd make the existing things in existence worth less.

And this is exactly the reason why fiat money dies every single iteration of the thousands of iterations that it has tried. As long as the money supply is not fixed, you WILL get bad actors and they WILL f*** things up. All currency dies from hyper inflation. There are no natural exceptions. This has happened in every country, every time. If it hasn't happened to your currency (yet), ask yourself this: what was the currency BEFORE this one? What happened to it? Unless you got "Euro-ed" (probably one of the notable few exceptions in the world), the answer is that your previous currency died due to hyper-inflation.

Fiat currencies dying through hyper-inflation is like people dying from old age. That's just the way it is.

Gold and bitcoin removes the power of anyone to do so by creating (1) a maximum supply and (2) a method to prove the authenticity of the thing in question. In gold, it is through testing. In bitcoin, it is through cryptographic proofs.

While many people, myself included, love the feeling of touching, feeling and holding your precious metals, it is arguably extremely hard to spend, transport and even sell if it eventually comes to it.

Bitcoin on the other hand has no need for transport, can be easily spent without any government or bank being able to stop the payment, and sells extremely easily. Perhaps it's main drawback is that currently fees to transact in bitcoins aren't as cheap as it used to be, and takes a while to complete a transaction (minimum 10 minutes) - 2 things that bitcoin is aiming to fix with its future upgrades.

It's been hard for me to admit it, but I've finally come to terms with it. I do feel that cryptos are likely the way forward, especially in the modern world where having a lump of gold in your safe means close to jackshit, but having access to bitcoins means you have instantly spendable wealth.

To precious metals investors, I'm definitely not saying that precious metals are useless and worthless. But I think that they really need to be evaluated in today's context, especially for their utility.

One very, very interesting crypto-gold project that I am looking at that actually marries the ideas of BOTH crypto and precious metals is DigixDAO. I don't want to say too much because it'll look like its a freaking advertorial for them and obviously I'm not being paid to say any of this. Plus, I care squat if you guys buy it. Buying crypto suggested from an anonymous stranger is no different than going into vans for candy. Anyway, it's a crypto that I own and I support, and it is going to do something pretty interesting with crypto and gold. Their project is in the final stages and I hope that next year I can happily sing praises about it and talk about it more when they actually have a product to talk about. For now, it's just a nifty idea that the curious can go exploring themselves.

I officially own more cryptos than I have precious metals. I have not sold off any precious metals yet, but I can't say that I have not been tempted to, to buy more cryptos.

Thursday, November 2, 2017

My Current Thoughts on the Alt-mageddon

BTC is breaking new all time highs.


Honestly, it's really chugging along as expected. BTC at $10,000 or even $20,000 really isn't mind blowing for me. I'm just a bit surprised that it is reaching these levels a lot quicker than I anticipated, and also not dragging up the rest of the alt-coin market with it.

Alt-coins are getting thrashed right now. I think it is generally the newbie FOMO of BTC going up with the fork, and everyone is trying to get their "free" forked coins.

Which is silly, since people were selling BTG (the last fork) for 2% gains, while booking 10-30% losses on alts to get that.

The market is really divided into big and small players now. The big players unfortunately can only buy BTC, and perhaps maybe some of the other top market cap coins, but I think for the most part, they have been deploying more and more money into BTC, hence the meteoric recent rise.

While this itself shouldn't cause the alts to crash, it is because of the smaller traders going for the free forked coins narrative.

I personally view this as alt-coins being extremely well-priced now, as people are just fire-selling their alts to get more BTC going into the fork. No big money can get into alts easily - the market volume is thin, and frankly, most of them barely can grasp BTC, they are going to have a hard time analysing the alt markets.

Am I going to chase BTC? No, I won't. I am going to continue buying cheap and depressed alts, especially the ones that I have very high confidence of recovering in the medium term (3-6 months) when they release major fundamental news regarding their projects.

While BTC can easily blow past $7,000 and hit maybe 8k or even 10k while alts bleed, my concern is not my daily average profit. My concern is the profit on the day I cash out, which will be years ahead in the future.

I strongly believe in the technology, community and therefore, long term fundamentals and price of Ethereum moving forward. I also know that Proof of Stake is going to be MASSIVE for Ethereum. My regret in the future will be not hoarding enough ETH when proof of stake goes live.

I have 1 last alt bag to fill up, then I'm gunning for just accummulating ETH, regardless of whatever other opportunities appear. I've been a bit distracted by alts lately, but the opportunities have really been so tasty and hard to ignore. Although I might kick myself for going into alts instead of holding ETH now in the short run, I think it is far more likely that my bets on alts at these prices are going to pay off very handsomely in a few months, and those profits are going to help me get even more ETH!

Anyway, this is just some rambling on my thoughts about the current BTC-alt markets. As with all my investments, I buy low to sell high. Alts are cheap and low now, and I'm buying into them.

As always, if you don't know crypto, it's better to watch and learn, than to play and get burned.