Tuesday, December 31, 2019

Goodbye 2019, Hello 2020

I had actually drafted an arrogant flexing year end wrap up blogpost, but one of the things I am trying to do lately is to be less of an asshole, so I decided not to post that.

I would like to say that 2019 started off as a tough year for me, as the crypto markets began in the shits. However by mid year, the performance of SNX was doing so well that things was all okay for me. Naturally being in fat profits is a happy thing, no?

Unfortunately, most people I know in crypto have their portfolios languishing quite terribly. I do honestly still think that the future for crypto as an asset class is bright (and will be much broader and encompassing than what most people imagine it to be), but these days I also think that it will be a long drawn out recovery, and lots of people are going to get shaken out of the market. I really do hope that we all can make it through.

There isn't really much to say which is not finance related other than that I am very glad 2019 turned out to be a great year for me in terms of investing, and I am quite keen and looking forward to 2020 for the other crypto projects that I am invested in to mature and also give good returns.

In fact, I am thinking a lot more about 2020 than I am about reflecting on 2019.

There are lots of things that I want to accomplish, and I feel that I have been holding myself back from accomplishing them.

Life needn't be so complicated.

You want something. You break it down into steps and work backwards what you need to do. You do it.

There's quite a few things that I want to do in 2020, and also plans for the next few years. I find the notion of "calendar year" planning to be a bit silly, especially if I have goals and plans that stretch out further than that.

One of the things that I really did not expect is to obtain the amount of wealth that I have right now, bright and early, even before I turned 30.

At this point, I honestly and sincerely do believe that I can quit my job and never work another day in my life specifically for money. Any work that I would do, would be work that I want to do and voluntarily subject myself to do.

Crazy, isn't it?

I've heard of this question before, but unfortunately it seems that I have not pondered on it seriously or deeply enough.

"If money was no longer an issue, what would you want to do with your life?

I guess for me, 2020 is going to be mainly about inwards soul searching and thinking about life and what I want to do with it, while also going auto-pilot with my day job and managing my crypto.

Financially, getting a house, setting up a retirement fund and having a draw down plan, blah blah blah, all those are the boring and easy bits. Please bitch, I am GMGH.

Well, don't mind me. I'm just agonizing over my "rich people problems".

I'll still be on crypto Twitter for a while. Gotta keep hustling and pumping my bags, amirite?

Anyway, I hope you all had a good 2019 and I hope 2020 will be great.

Tuesday, December 24, 2019

Collecting my Crypto Interests (Nov 2019) + topping up to 1000 ETH ($170k)

It's that time of the month again. Sorry I am late, I was busy at the start of the month.

I'll try to follow the same format as last month, but of course with the updated figures.

Since the start of Nov, BlockFi has:
- increased their limit to 500 ETH
- further increase their limit to 1000 ETH
- further increase their limit to 10 BTC
- updated their interface
- added the functionality to trade between cryptocurrencies DIRECTLY on the platform

This is probably really good news for the big Bitcoin bulls. Personally, I'm very lukewarm about BTC, but that's just me. Hence my heavy allocation in ETH and me having so much spare liquidity that I can max out my BlockFi limits.

So, as predicted last month with my estimate of "roughly just over 1 ETH", here is my interest payment for the month of Nov.

As you might've noticed, it looks different from last month, and that is because they upgraded the interface to look a lot more modern and professional. I quite like the new look, although it of course does take some time getting used to the new look to quickly navigate to where I want to go, but overall still very intuitive.

Of course, with the new 1000 ETH tier 1 limit, I have also increased my deposit with BlockFi to 1000 ETH.

If I feel less lazy to consolidate my different BTC UTXOs, I might fill up that 10 BTC limit too, which looks very juicy...

Anyway, my pathetic 500 ETH has gone down in value from about $120k to ~$86k. Oh well, guess I'll just be poor then, haha. At least I have another 500 ETH just lying around, eh?

The new trading interface is very handy. The only problem is that there is a $10,000 daily limit. I suppose the biggest convenience of it is that for people with BTC and ETH collateral and receiving BTC and ETH as interest, they can very easily convert that interest in GUSD (or other stablecoins in the future) and in a way, "live off" their interests. Of course, assuming that the interests received are large enough to cover the forecasted expenses that it should be covering.

For people with larger trading requirements, I suppose they can just simply transfer it out to Gemini and do their trading there. Then again, it is also another nice way to "throttle" your moves and forces you to be gradual and less binary if you're a lazy person, and that can actually help prevent making rash decisions. But I digress.

Anyway, as per usual, this is just G doing big boi G stuff. This is my ref link if you wanna be a degen like me.

There's lots of risk in leaving your money with a custodian. This goes even for the traditional finance space. If humji please don't do. BlockFi tomorrow run road, what will I do? Just move on with life lor. Lan lan suck thumb, what can I do? So please don't put all your eggs into one basket. This is simple and basic risk management.

That is all. Stay tuned for the update next month. (Probably late next week)

Saturday, December 21, 2019

Checking on my $50K Crypto Account

I just read the Q4 summary of the Unintelligent Nerd and that reminded me that I have shared about my public ENS address which I use to "stake" my SNX.

I thought I'd revisit my old post where I shared about it. You can go read there first if you've never heard about it.

So first thing's first, let's go look up my ENS on Etherscan. This is what we have now.

So if you remember 2 months back, the value of my tokens were worth $37,689 USD, or ~ $52,000 SGD at that point of time.

Since then, the price of ETH has slide from $174 USD to $128 USD, or -26%.
Yet at the same time, my portfolio here is up 85%.

At today's exchange rate, the value of the tokens here is ~$94,000 SGD.

So about $42,000 SGD profit in 2 months. Lol. Madness. I know right, haha.

But actually hor, it is even more. One thing that the Unintelligent Nerd did not really elaborate on is that the SNX rewards you receive are locked up for a year, and only then you can claim it. This means that Etherscan does not show the amount of escrowed rewards I have received from staking since it is credited to my account but is being held in a different address because I can only access it after 1 year.

Anyway, long story short is that I actually have another $27,000 USD worth of tokens which are currently locked up for a year. Or about $36,000 SGD.

Lol, yes, even more insanity on top of the existing ridiculousness.

So if you trust my math, I've crunched the numbers and the actual absolute value of my account after you consider the complicated debt part about the Synthetix system is... about ~$115,000 SGD.

Anyway, I know you guys get massive erections when talking about passive income, so what is my "dividends" from SNX staking?

Just 2 days ago, I collected my rewards due to me for the past 2 weeks. It was $2100 USD, or about $2800 SGD.

So yeah, my "income" from just this SNX investment from doing all the staking work is about $1400 a week. That's about 1.2% a week, which are roughly similar numbers that UN has testified to.

Anyway, let me make this crystal clear, this is NOT a solicitation for you to buy SNX and stake it. SNX is extremely complicated. As with crypto (and all things in life), there are risks. I understand the risks, and I am willing to assume those risks in exchange for returns. So far, good deal. But I know how to manage my risks. I know how to spot upcoming risks within the platform. I know how to exit my positions. I have the knowledge to do all these things, and I also have the capital and time to execute them. You, my lovely dear reader, probably do NOT.

To conclude, I'm currently making money in rat poison and you should just burn with jealousy and watch this degenerate gambler get even more rich as you cup Uncle Warren's hairy balls, got it?

Jokes aside, I might do a 2019 review, I might do a flex "woo im a millionaire, bitch" post, I might do a "2020 and beyond" post. I have not really thought about it yet. Between me having a real life (job, family, friends), shitposting on twitter and making bank with crypto, writing blog articles has fallen quite low on the priority list of things that I plan to do. I also got to remember to do the givingweek for 2019. So much things to do, ugh. Hustling is tiring.

In fact, there are some crypto things I need to refresh my skills on to prepare myself to become insanely rich in 2020. I should focus on that, since that's an activity that will give me money, but then again me flexing in the bloggosphere strokes me ego and that will give me a sick sense of pleasure. Oh well. Perhaps if I need to take a break, I'll pump out a post or two.

Happy holidays folks.

Tuesday, December 17, 2019

Small Quiet Announcement

I purposely did not have a clickbait title today because just wanted only the long-time readers and people who follow me to know the update, as opposed to trying to draw in a newer audience to observe my financial recklessness.

Notice anything different?

I would like to announce that your friendly GMGH is now a millionaire.

I have done the probably unimaginable and have actually managed to bring my net worth to over $1 million before I turned 30.

Yes, a large chunk of it is crypto net worth.
Yes, if crypto crashes hard from here, I probably will not be a millionaire anymore.

Mind you, Bitcoin is at around $6k+ USD and ETH is at $130+ USD, and the whole market is still being a piece of shit for the last 2 years, but yet my portfolio is relatively doing quite well. Maybe I am "lucky", or maybe I just happen to be really good at this game, but hey, profits is profits.

You can hold off the congratulatory messages if you have any, because I am still planning to hustle hard in crypto for a while more, so I am not retiring soon, although I probably can. I'm not much of a FIRE investor like most of you guys anyway.

While prudence would tell me to take my profits and run, if you could see what I see about how ridiculously easy it is to make money in crypto, you would not leave until you milked this cow dry either.

I'll leave the elaborations and flex memes for another post on another day, but as 2019 closes and me going into my 30s, I just thought it would be a nice announcement to make.

That is all, hope you all had a great year too.

Monday, December 9, 2019

Get "Woke" about "Passive Income"

Just read this comic by the Woke Salaryman. It describes the ever popular trend and fad of "passive income" investing and it's allure. I doubt we'll ever see it cease to be a popular investing strategy. Even personally, I like the concept and idea of free-rolling on interests. It is just overall a very appealing concept.

I would implore all to read it. There seems to be a very unhealthy obsession within the Singapore financial blogging community about "passive investing".

At some point, people will see the common sense that simply banking THICC capital gains and drawing down on it can be superior to "omg yay my dividends are in".

Then again, I am not surprised that so many people value the passive income strategy at an immense premium, given that the majority of people still think whole-life insurance has ANY part to play for your regular Tan Ah Beng.

ImAgINe pAyiNg TeRM pREmIuMs AnD gEtTinG nOThiNG bAcK LOLZ

Yes, I am mocking people who unironically think that whole-life products are good for anyone other than their insurance agent.

The TLDR; is that passive income investing either requires a lot of effort + skill (which many people lack), or requires a ton of capital (which many people lack). And that's the cold hard truth, sorry not sorry for getting you "woke".

Of course the counter argument is that everyone has to start somewhere, and I agree on that. What I disagree on is that the "passive income" process is the superior process. In fact, I think that it's the overrated and harder process. But that's just me and my insane ramblings.

What do I know about success investing anyway? I "gamble" with rat poison and its variants.

Anyway, regular programming of crypto posts should be coming back soon.

Saturday, November 23, 2019

What Crypto Bear Market?

BTC peeked under $7k and ETH was down to $140 at one point of time yesterday.

The market is ~30% down from the start of the month.

Even my 200 ETH and then 500 ETH deposit into BlockFi is down from the time when I deposited my ETH in there.

But what is 30% down for the minority of your portfolio, if you have a concentrated position in something that is up 3000%+ YTD?

I just wanted to flex that on everybody. Now with that out of the way, it'd probably crash as the universe tries to teach me to be humble. Or maybe not. Maybe the universe wants me to be an arrogant asshole and flex on closed minded people. I know naught of the higher powers and their intentions. Wew, ramblings aside.....

Who needs to be a FA/TA guru paper trader making consistent alleged 20-30% returns annually when you can just 1 shot 1 kill 3000%+ gains in less than a year?

Not me, that's who.

Anyway, the crypto market is panicking, but I feel fine. Gonna be away for a while, so probably very quiet on my side until the end of the year. I'll probably still tweet though. But basically no new blog posts, comment or email responses until I get back. I might squeeze in the BlockFi update if I have time. Maybe I will, maybe I won't.

As always, crypto is dangerous AF. It's not meant for the weak or the lazy.

Just sit back and relax and watch me maybe get insanely rich from playing with "rat poison".

Tuesday, November 19, 2019

Stop Getting Scammed by Trading Systems, Trading Bots, Market Gurus

This might upset a lot of people.

It'll upset the really naive people who actually believe that such things exist.
But more importantly, it'll upset the people that market and operate such "services".

It irritates me to no f**king end that YouTube displays these kind of shitty ads to me:

"Buy 500 properties with no money down and be a landlord"
"Hi I am 20 and I am already retired from trading"
"I help a 90 yo ahma sell shit online for $10,000 in her first month"
"My trading strategy has helped a lot of people quit their jobs and trade from home"

Bloody shit.

So whatever.

I don't want to name names, but think about it and riddle me this:

If you have any kind of strategy that is +EV (positive expected value), would you,
a) borrow a shit ton of money and engage in the strategy and earn all the profits
b) share it with internet people for a low low price of $999 for the 1st secret

I'm so sick of hearing about naive and low IQ people getting scammed because they are greedy and lazy.
Actually, if you are greedy and lazy, I suppose it's going to be a super effective lesson, lol.

You want to sign up for some trading course? Buy some trading bot?
Go ahead and throw away your money.

If it was a good thing, I'd never share it, unless the opportunity is so wide, that I can't capture all of it alone.

You might THINK that crypto sounds just as scammy, but hey, that's totally like, your opinion, mannn. And that also proves just how little people understand about the crypto market.

Saturday, November 16, 2019

I deposit 500 ETH ($120,000 SGD) to earn Crypto Interests

I first blogged about Blockfi on Oct 15. I had put in a casual 200 ETH with them with the intention of earning an easy 4.1% a year of interest in ETH.

Fast forward to the start of November, I blogged about receiving that interest. A nice and expected 0.67 ETH.

One of the reasons why I decided to blog about Blockfi is to force myself to be more organized about segments of my crypto and to also demonstrate to curious people how wildly different the crypto space is from the "traditional" stuff.

Well, the interesting news of November is that Blockfi announced that they would be raising the maximum deposit limit eligible for interests from 200 ETH to 500 ETH. You can check the latest rates here, but here's the screenshot of the page since y'all probably lazy.

I would imagine that this change probably does not affect most people. I mean, how many of you have spare 500 ETH just lying around?

I mean, I do. But I'm a crypto degen that has been in the business for quite a while, and I have actually had some success in my degen habits, so I suppose my situation is not really the same as everyone else. Anyway, since I had spare ETH lying around, I decided to spring clean a few accounts and top up my BlockFi account to 500 ETH and milk it good for those sweet interests.

And how much is that worth in SGD? As usual, just punch in "500 ETH to SGD" into Google and you get the answer.

Hot diggity damn. ~$120,000. That's a nice lil' stack of ETH I got in there, eh?

So why am I putting in ~$120,000 worth of crypto into a recently launched crypto fintech startup with no real operating history for some piss interest?

Because I can, kek.

That's just how I roll. I'm a big pp chad.

There's a reason why crypto is so wild wild west - because it actually is. Please be very aware and walk in with both eyes open regarding the risks of custodianship with a foreign entity. Please, I beg you. If you are a humji chicken shit, please do NOT do what I am doing. If I lose my 500 ETH, then what? I suck thumb and move on. Life is like that. Life is all risk, and then you die. What are you gonna do about it? But I digress...

I am planning on sharing the results of the interest next month. However, since it's already mid month and I had my liquidity a bit scattered, to calculate the amount of interest for the month of Nov is going to be very messy. I'd estimate that the interest I'd finally get paid out for this month on the 500 ETH deposit balance is going to be ~3%, probably a bit under. Roughly just over 1 ETH, I reckon.

Anyway, the interests for December should be better since my whole 500 ETH should be earning interest the entire full month (unless they play around with the eligible balances again!). In which case, I'd probably be looking at roughly ~1.7 ETH paid out at the start of Jan 2020.

Phew, it looks like I'm getting a bit ahead of myself!

I'm still patiently waiting for USDC to be enabled as a deposit type and eligible for interests on Blockfi. I might put in a chunk of USDC to continue my experiment.

Okay, that's it for my post on BlockFi. I probably won't have anything to update until the interest payout at the start of Dec. However, if they do decide to add USDC, I'll definitely update about it and canvas for interest in me making a simple SGD -> USDC -> BlockFi guide.

<insert usual disclaimer that crypto being super freaking dangerous and you shouldn't do anything that you don't understand what you're doing>

Obviously, since crypto is volatile, that 500 ETH could well be worth $50,000 in a few months. Likewise, if the resurgence of interest in crypto comes round again, ETH just needs a simple 8x for that to be worth ~$1M... so roughly all it has to do is go back to all time highs, haha.

If you already own some crypto and are just sitting on it in your Coinhako, Coinbase or Binance SG account, why not consider if it is worth the risks to move it over to BlockFi and earn some returns on it?

That said and done. if you want to give BlockFi a try, remember to sign up with my referral link and you'll be blessed with many many luck, huat ah!

Saturday, November 2, 2019

Collecting my Crypto Interests (Oct 2019)

It's the start of the month, and the best part of every month will always be me getting credited interests from my previous month of deposit balance in my crypto interest account!

As a refresher of exactly what the hell I am talking about, at the start of October, I deposited in 200 ETH into my BlockFi account, which is ~$50,000 SGD.

BlockFi pays out interest according to the table below (they do change the amount and limits so be sure to check here for the latest):

So as predicted from a 200 ETH balance earning 4.1% interest, it works out to be roughly 0.67 ETH. Roughly about $150, depending on the prevailing ETH price, which isn't too shabby, eh?

Boom. What do we have here?

Aww yeah. My interest payment of ~0.67 ETH, very promptly paid.


I hope you guys read my earlier post about the $10 BTC promotion that was going on at BlockFi and signed up using my referral link. Actually, I am pretty sure that quite a few of you did sign up and got the promotional deposit, because I received my end of the promo too.

Good lobang right? You win, I win.

Not only that, but now you also know about and have access to an account that can pay you interest in crypto and also stablecoins.

Feels like a scam to you? Withdraw everything and go sell. With that promo, it's a 1 month 10% ROI with enough profit that you can go buy yourself a few bubble tea. Like it so far? Continue watching me and if you feel comfortable, do it for yourself. Feeling uncomfortable? Link your financial sexpert friends to my article and ask them to call me a ponziman rat poison scammer chicken nugget chocolate banana pie.

I plan to blog about my BlockFi interests every month, along with my scrutiny of their business and changes about their rates and tiers.

I will be expecting them to be announcing that USDC will be available as a deposit type soon, in which case I have plans to deposit quite a bit of USDC with them. I guess I might also do a post on HOW to get from SGD to depositing USDC with BlockFi, which requires a Circle account.

Tell you what. If enough people register through my referral links, I'll probably do a post like that to teach step-by-step how to earn interest with USDC on BlockFi. If no one cares, then I'll probably not do a post like that, since it's probably a waste of time. I'm sure most people are here just to watch me blow up with my crypto investments, rather than learn how to earn 8.6% pa on a USD stablecoin.

Anyway, I'm quite enjoying BlockFi so far. Of course it has risks. Everything in life is risk, and then you die. Like I always say, if you scared or humji, don't do. I never ask you to do. Only saying if really ownself want to do and want to know how I do, this is how I do it. And if it is good enough for me, perhaps it could be good enough for you too? I don't know la. You lose money don't find me. If you make money, I also won't go find you.

For those that are now onboard the BlockFi train, welcome! Look forward to my monthly posts! If you have any suggestions or questions about BlockFi, feel free to comment below. I do want to make it such that people that wander on my blog or get shared a link from friends can easily understand what is actually going on and how to start, IF THEY CHOOSE THEY WANT TO TAKE ON RISKS AND DO IT.

I can't stress this risk thing enough. A lot of people seem super mega humji about a lot of things. Obviously there are risks. And in crypto, there are plenty. Stay safe out there.

Tuesday, October 29, 2019

China WILL launch its own "digital" yuan aka CRYPTO RMB

For all intensive purposes, any "digital" crypto from this point onwards in the world is probably referring to the crypto version of the fiat currency. And once a country rolls that out, there will no longer be as distinction between crypto fiat and all other forms of the fiat itself. In fact, I dare to say that any non-native forms of the crypto fiat is merely a representation or abstraction of the direct ownership of the crypto fiat (custodial risks).

Govs won't want to say "crypto", because that sounds scary, so they will just stick with the very neutral "digital".

While I totally 100% expected this, I am just blown away by the absolute speed that this is progressing. The digital RMB is announced and will be rolling out over the next few quarters, though trials are expected by the end of the year.

So their digital yuan is actually crypto yuan which will be running on their DCEP network. I guess? As if my Chinese is good enough to read technicalities on blockchain, lmao.

I did just freaking say yesterday that:

Looks like China is being very smart to not only go digital, but go with blockchain. This is very clearly a stepping stone for them to educate people before they can roll out their digital / crypto RMB.

I think that within a few years, all RMB will be crypto-based, which means Alibaba and Wechat will not be simply processing internal database updates of balances, but they will be connected to the RMB blockchain. Of course, nothing in life is certain, but in my opinion this is blatantly obvious as to what will happen in the future. 

Am I an oracle?

No, it is bloody obvious. As with many other things.

(such as which of my crypto will pump and make me a multi millionaire, but I jest)

What is also very obvious is that this will cue a lot of other countries to begin to digitize (READ: crypto-base) their fiat.

While the US and most of western Europe take turns blocking Libra and shitting on the notion of a corporate cryptocurrency, China has just surprised buttsex everyone by going straight to a national cryptocurrency.

At this early stages with so many unknowns, what I can see is that Alipay and Wechat will basically transform into a giant front end wallet UX for accessing and storing the crypto RMB rather than do the direct processing of money transfer. Transactions will be done by the DCEP, while they try to add value by connecting those payments to auxiliary services they provide. Nothing new, except that basically they will take a massive hit on anything payment/banking/finance/investing related, though I do see it entirely possible for them to be kickbacked a certain amount for funneling that volume. Jeez, sounds like affiliate revenue, doesn't it? Hah.

Anyway, that is honestly just the small issue. I already mentioned the bigger issue before.

Depending on how quickly other countries react and proliferate their own national cryptocurrencies will ultimately decide their future if crypto RMB will become in the future what the USD is today.

I have to say, China's massive footwork, background homework and current progress and position is putting them is a YUUUUGGEEE headstart compared to almost any other country in the world. I find it extremely unlikely that the US can do anything about it. The most "obvious" counter to this crypto RMB is actually backpeddling on Zuckbucks and make it a China vs the Rest of the World situation.

Whatever the bloody case, I continue to happily stack censorship and seizure resistant cryptocurrencies because unlike regular people I actually care if my money is actually MY money.

Imagine being so grossly naive and still thinking that in 2019 blockchain technology is simply an expensive database (and not what the implications of controlling that technology entails) and that cryptocurrencies are a scam.

Just imagine that.


Monday, October 28, 2019

"Blockchain" Booming in China. Good for money, Bad for freedom.

Gonna blaze through this post with some facts, then end with some thoughts.

China "blockchain" stocks are limit up 10%.

Even talked about on CCTV2.

Blockchain and Bitcoin searches spike in China.

Politics aside, I think it is quite clear what Xi has done for blockchain.

It is now political and career suicide in China for any individual or business to carelessly make public remarks and say that blockchain/Bitcoin is a scam or a ponzi.

Looks like China is being very smart to not only go digital, but go with blockchain. This is very clearly a stepping stone for them to educate people before they can roll out their digital / crypto RMB.

I think that within a few years, all RMB will be crypto-based, which means Alibaba and Wechat will not be simply processing internal database updates of balances, but they will be connected to the RMB blockchain. Of course, nothing in life is certain, but in my opinion this is blatantly obvious as to what will happen in the future.

As most regular people simply fail to understand, the blockchain makes this exceedingly TRANSPARENT where everyone knows every transaction. This makes it probably the WORST form of money when transacting in illegal activities.

Of course, China knows this very well. Do you know what will happen once the crypto RMB rolls out? Tax evasion and money laundering will drop to near zero. It will be near impossible to do any illicit transaction since everything will be recorded and it will be impossible to evade since the system mandates that you use crypto RMB for everything.

However, this also means that you hand over complete authority over your finances to your government. I don't know about you, but that is something that I will definitely NOT be doing, at least not for the majority of my wealth.

China's social rating system is already live and at a level where people can be totally locked out of basic goods and services because the government has blacklisted them for whatever reason. Imagine the grip they have over your balls if they can control your bank accounts too - all of them.

Obviously, this crypto RMB will GREATLY extend and enhance the reach, power and control that the Chinese government already has over it's entire population, but also anyone in the future that will ever hold or transact with digital RMB.

So while I think it is an excellent development that China has officially recognized blockchain technology (and Bitcoin and Ethereum are IMPOSSIBLE to be censored or avoided when understanding and teaching blockchain), I am almost certain that this technology will be used for nefarious purposes.

Bitcoin and crypto may pump on this news, but I would be wary and understand what is actually going on.

Unlike the future digital crypto RMB or USD or even SGD that WILL appear all over the globe in the near future (whether you like it or not), Bitcoin and Ethereum will always be outside of any government's control.

If you're snoozing on "blockchain", wake up your idea. Most of you are greedy and want to be in it to make the sick 1000%+ gainz. But when you understand the power of open and decentralized cryptocurrencies and what that means for financial and personal freedoms, only then will you truly realize why they are so valuable and why idiots like me are willing to throw down $10,000 to buy a Bitcoin.

When the time comes for Singapore to go crypto (they will call it "digital"), I can bet with you that the issues over privacy and financial control will barely even be mentioned, and the entire initiative will be rubber stamped and executed without so much as a squeak from the population. Mainly because everyone is too uneducated on this topic.

My only hope and wish is that normal people can wake up and understand what the hell is actually going on here. Probably not gonna happen. Most people are sheep. Bitcoin baaaaad. Rat poison. Baaa.

The future has just gotten significantly more scary.

Saturday, October 26, 2019

Bitcoin up +36% in the last 24 hours

Lol, crypto markets be lit af.

My stupid flex post yesterday had SNX +1625% when I used yesterday's price of $0.773.

Well it is now...

Damn it. If I had posted that today instead, it would be +1861% instead, and that looks more chad.

Anyway, why the pump? People saying it is because Xi Jinping talked positive stuff about "blockchain". No one really knows though, for this is crypto and it is the wild wild west.

If you are feeling like a filthy degenerate and want to waste money on fake rat poison internet ponzi money and devolve into a lesser human being by throwing away all concepts of traditional financial investing, then you should consider these GMGH approved options:

Binance SG as your SGD to crypto exchange. Basically, you can buy Bitcoin and Ethereum with SGD. Sign up and you get $20 with $100 traded. Easy money for you, easy money for me.

If you wanna whale, Gemini is probably better because you aren't restricted by silly, financially prudent purchase limits, lol. If you have the size, Gemini will upgrade you from the retail pleb tier to the active trader tier which knocks down fees from minimum 1.49% to just 0.25% if you are a maker.

Binance is hands down the best exchange. They have recently launched a new referral program, so if you register with my link, you get a 20% "cashback" on your trading fees. Why am I shilling the referral link with the maximum 20% to me + 20% kickback to you, instead of the original referral link where I would eat the entire 40%? Because I really don't care too much about referral income and if yall can benefit from it, that's great too.

Blockfi is where I personally store some of my crypto. It is a custodial solution, but they pay interests. So pros and cons. I happily max out my limits there, but that's just me lol. Sign up and you get $10 by depositing and maintaining a $100 balance. Free money, just take, amirite?

All the links above contain referral links where I get something, but you also get something too. If I have managed to convince you to explore crypto, please sign up through my links.

Anyway, in all seriousness, what goes up also probably will come down. The crypto markets are volatile af. Just as easily as you can make extreme profits over a short period of time, you can also lose a lot of money very quickly.

If you have no idea wtf you are doing, then simply be a spectator, do NOT participate and just watch me crush it. Not everyone was built and design to seize the glories of crypto.

Anyway, back to the degeneracy. Talk to you guys later.

Friday, October 25, 2019

One of my Crypto Investments is up 1625% since March

Back on 25th March earlier this year, I tweeted that I was buying heavily a low cap altcoin called Synthetix (SNX).

It was just a ~$3M USD market cap cryptocurrency back then, making it an extremely risky small cap crypto play. Are there even companies this small on the Catalist?

*checks SGX website*

Lol okay, so there's just 10 companies on the Catalist that are under $3M SGD that aren't suspended or on the watchlist. Anyway....

I have mentioned Synthetix by name once on my blog in Dec 18. But actually, I've been talking about it since April 2018 and I even said that in May 2018 that it was my favourite project! I'm sure no one noticed the rebrand that happened late 2018, but before that Synthetix was originally known as Havven.

Anyway, for reasons that I have been incessantly tweeting about since forever, I was strategically buying into the depressed prices heavily. You can go onto Twitter and check for how long and how often I have been tweeting about SNX. Audit it. All the evidence is there.

7 months on, what do we have here?

+1625% increase in price.

Oh my. I guess it is probably about that time for someone to say that I am so "lucky" to have magically owned such an investment.

Firmly in the triple digit percentage profits now.

You know what is going to be absolutely ridiculous?

When I decide to flex in a blog post that I made $1M of profits in crypto.

Y'all think it's a meme and I'm just joking, right? Maybe I am. Maybe I'm not.

Anyway, I'm not ready for that yet. But maybe soon? I'm working on it.

Monday, October 21, 2019

Come see my public $50,000 Ethereum address

One interesting thing about the blockchain is that all addresses are psuedo-anonymous.

Do NOT confuse it with being anonymous. It is not.

PSEUDO-anonymous means the whole world can see the address and its balance, they just have no clue who owns that address.

For example, an Ethereum address looks something like this: 0x4E60bE84870FE6AE350B563A121042396Abe1eaF

It's kind of useless, but throw that address into a block explorer like Etherscan, and you get something like this:

I probably don't need to do the math for you, but the balances in that account are in USD, and that brings it to be worth just under ~$52,000 SGD.

Anyway, block explorers are basically like yellow pages or the search engines of the blockchain.

What's so special about that address above compared to any other random address? Well, actually it is 1 of my many Ethereum addresses. I'm more than happy to share that with you because I actually post updates on my Twitter every week about what I do with that account.

Now I have ~$50,000 worth of some tokens in there, which I use to stake and earn money. All publicly verifiable information, just cross reference my Twitter thread and my on-chain transactions on the blockexplorer if you bother to audit me.

Interestingly, the "income" that I made in the last 4 weeks of staking? ~$3600 SGD.

Yes it sound's absolutely ridiculous that I made $3600 in a month with rat poison fake internet money, but hey, it is what it is.

But what is actually more ridiculous is that 117 days ago when I deposited my tokens into this particular address, its value was only ~$17,500 SGD.

So in a span of about 4 months, it's value has nearly tripled and I'm up 191% in profits since then.

Now I've ~$50k worth of tokens in this public address staking and I've another ~$50k worth of ETH in a BlockFi account earning crypto interests. That's just what I've chosen to share with you guys. I know a lot of bloggers like to post their account values and stuff, so I figured y'all might like this kind of post as well? Of course, crypto is a much more private thing, so I'm definitely not sharing my entire portfolio.

Months ago when I said that my lack of blogging activity has been because I've been busy pursuing opportunities in crypto and busy making money, I really meant it.

Friday, October 18, 2019

Deposit $100, get $10 of BTC

Remember my last post about earning high interests? Well, BlockFi just rolled out a new promotion 3 hours ago. So, fresh off the press.

Well, GMGH is here to give away that free promo money.

Step 1: read that post and UNDERSTAND
Step 2: if you like it, sign up here with my link
Step 3: deposit and maintain at least $100 til 1st Nov
Step 4: you get $10, I get $10

Good deal, right?

You can deposit BTC, ETH or GUSD.

For me, I obviously have ETH deposited in there. A humble 200 ETH working hard to generate for me interests every month.

A reminder on the yields you can expect in the BlockFi account.

Also casual reminder that life is all risk, and then you die.

Do your own due diligence.

Tuesday, October 15, 2019

Earn High Interest on your Crypto? I deposit 200 ETH ($50,000 SGD) to find out.

Okay, so I know I've talked about earning interest on stablecoins before, specifically with the DeFi and centralized platforms.

What actually is a very well kept industry secret that most people probably don't know is that you can also earn interest on your crypto!

Yup. I bet you didn't know that, right?

Question: What's the rate that we are exactly talking about here?

6.2% on your first 5 BTC (~$55,000 SGD) is pretty damn good.
4.1% on your first 200 ETH (~$50,000 SGD) is also pretty damn good.
Also 8.6% on GUSD (which is a crypto token that is 1:1 redeemable for actual USD via Gemini) is pretty damn dope.

Interest for the current month is paid out on the 1st working day of the next calendar month.
There is NO minimum deposit.
There is NO lock up.
This isn't a fixed deposit. It's a freaking high yield savings account.

So let's ASSUME that
1 - you max out Tier 1 for BTC and ETH
2 - the interest rate stays constant for the whole year
3 - the price of BTC and ETH does not go up or down

Then you'll be depositing $106,000 and end up with ~$5560 worth of crypto in a year. Obviously, pretty much the average between the 2 rates since the capital amounts are roughly similar. About 5.2% APR.

And that's assuming you don't use put in any USD at all either.

And that's assuming that crypto prices doesn't change. Though, it's a double edged sword in this case. If that worries you, perhaps you're *only* cut out to earn FREAKING 8.6% ON A USD STABLECOIN. Which is still pretty damn good.

Lol, btw guess where I got the current rate and conversions from? DIRECTLY FROM GOOGLE!

Anyway, since they go up to 200 ETH, I thought I'll throw in a bit of my ETH into this BlockFi interest account. So, I have deposited 200 ETH into my account. Perhaps it's rounding error because of my previous deposits and withdrawals, but it displays as 199.9999999 ETH. Oh well, lol.

I'll think about putting in BTC or GUSD later. But actually, I listened to a recent interview with the CEO of BlockFi (yes, I actually do due diligence) and it seems like USDC will likely be an offering by the end of the year.

I'm thinking to put in a nice phat and T H I C C amount of USDC then. Hmmm, what do you guys think? On top of me updating this thread on my 200 ETH deposit, would you also like to see my put in USDC?

I'm thinking maybe $10k, $20k or maybe even $50k. Hmmm, we'll see about that. Let me know!

Also, in the following posts, I'm thinking of doing a walkthrough on how to deposit crypto with BlockFi. When USDC comes out, maybe I'll do a similar guide on how to set up a Circle account and link your bank to USDC to send over to Celsius? Does anyone want to know how to send over GUSD to BlockFi? Personally, I think it's better to just wait for USDC, since I have strong suspicions that GUSD is gonna get shelved by Gemini soon, but that's just my speculation.

Oh yes, risks. What are the risks of this?

Well, everything in life is risk, and then you die. Haha! Okay, but real talk. It is almost entirely custodial risk. You are entrusting BlockFi to not only keep your money safe and later give it back to you (and not get hacked in between), but to also stay solvent in their lending business by having prudent risk management.

By the way, in case you were wondering, BlockFi can afford to pay interest on crypto deposits because they lend out the crypto to borrowers. To date, they haven't lost a single penny. Also based on the recent interview I heard, their Risk Management officer has been doing something very similar to this for 15 years and during the 07-08 financial crisis, his department never lost any money either. Of course, past track record has no bearing on future performance, but I thought it's an interesting thing to mention.

I have actually been lending and earning interest with BlockFi for months now, but I decided to share this little secret that I have with people since (1) I've been doing rather well for myself in crypto lately and (2) they have a referral programme now lol.

So, who might BlockFi be for?

1a) You are interested in earning 4-6% on your BTC/ETH
1b) You are interested in earning 8.6% on USD
2) You understand that there's custodial risk involved (the same class of risk as money in your bank)
3) You go and do your own damn follow-up research!

In that case, sign up with my referral link and follow me on a magical crypto journey!

Obviously there is a lot more to know and learn about BlockFi, but since I am now happily referring people to them (and since I also use them), I will probably be talking about them more in the future.

Thursday, October 3, 2019

Can I Outperform the "Market" with my Crypto USD savings account?

I know, I haven't had any content in a while.

Anyway, I've been thinking of this idea, funding 2 crypto "savings" accounts with $1000 USD each and then watch as I outperform everyone else without even breaking a sweat, taking only black swan risks, and have almost no liquidity issues.

Should I do it?


I'm thinking of throwing 1000 USDC into Celsius, and 1000 DAI into Compound / Idle Finance.

Data from loanscan

8-9% APR with minute/daily interest payouts and no withdrawal penalties or restrictions?

I'm sure most of you are asking yourselves "is this a scam?!?!", lol.

Anyway, I've been busy making money, so maybe when I'm more free?

I'm open to suggestions for what I should use as the benchmark. I suppose maybe a 100% STI ETF portfolio to amp up those risks so that returns might have a chance to be comparable until there is a risk-event. Is there a local REITs benchmark? I know all you "passive investors" love REITs, heh.

The general crypto market has come down, but guess what? I'm still doing great, lol!

Wednesday, September 18, 2019

Crypto Soft Flex

As we all know, I've been doing crypto balls deep since 2017.

I'm happy to report that even after that devastating bear market we saw in 2018, I'm still in profits today.

Yes, that's right, I'm in profits.

And better than that, I'm actually in triple digit percentage profits too.

So if you take the most minimum amount that triple digits could mean, that would be 100%.

With BTC at $10,200 and ETH at $210, that would mean that my average buy in price across ALL my purchases is at least 50% of that.

You could probably generalize that my highest possible average buy-in for BTC is $5,100 and ETH is $105. (assuming a 50/50 portfolio, which obviously mine is not)

Also, assuming a minimum of 100% profits as of now, that would make my annualized return ~42% per annum for the last 2 years.

And this is on the back of coming OUT of a bear market and not even in a bull market yet.

Mind you, this is the minimum. I can comfortably assure you that my profits is MORE than 100%. How "low" or how high, well let's just leave it to your imagination. Unfortunately, it is closer to 100% than it is to 999%, that much I'm willing to share.

Perhaps look forward to my next salt post when I post about my 4 digits percentage profits, or maybe when my crypto portfolio exceeds $1M in profits? We'll see how things go. Maybe I get rekt because all crypto is a scam, right? Haha!

As usual, I post SIGNIFICANTLY more on Twitter, with a lot more updated views (since things change so fast in this space). For example, the previous post about me buying back into DGD on the thesis of a corporate raid? I've already exited my position and booked ~10% absolute profits for a short 2 month trade. Those that follow me probably know what is the trade that I have been in that has been one of the main drivers of my returns, haha.

Anyway, just wanted to flex on all you stock / REIT / bond bois.

I actually wanted to make a more clickbaity title, but I'm actually happy that none of the mainstream financial bloggers are in crypto. All still convinced by their idol Buffet that crypto is a scam, lol.

Feel free to continue to believe that crypto is some digital ponzi!

I'll be busy earning retirement money in the easiest market there is out there.

Tuesday, August 20, 2019

Negative Bank Deposits in Denmark

Can't make this shit up.

Large accounts (more than 7.5M DKR) would have -0.6% rates.

Denmark already has negative home loans at -0.5% lol.

And while people are paying banks for the privilege of them to hold their cash (and allowing the banks to use the cash to lend out and earn a profit), I'm earning ~12% APR with my USD stablecoins, with no lockups.

Sorry to say, but the world ain't fair.

You don't do the hard work of educating yourself on what matters, you don't get the same opportunities as people who have.

Sunday, August 11, 2019

DGD is a BUY now???

I think DGD needs no introduction.

I used to own a shit ton. I sold majority for disgusting profits. I exited the rest of my position at around breakeven. Recapped all of this in Jun 2019 when I was saying how DGD is crap and will never distribute their DAO funds.

Well, guess what happened?

Anyway, I've been an asshole on Twitter and I've been poking the shit out of their community on twitter - blasting their crap capital returns, terrible yield and below NAV valuations. Also saying that their team is either incompetent or fraudulent. I guess their community finally had enough of my shit and decided that I'm actually not an idiot and know what I might talking about?

Finally, the community has a proposal for a DGD burn for DAO ETH and it is looking like there are very decent chances that it will pass voting.

You can read the proposal here yourself.

Anyway, the game theory of this whole thing now that Pandora's Box is being opened (challenging the status quo that the ETH in the DAO should actually be redeemable) is not that difficult.

Optional Step 1 - team and insiders hold majority tokens and keep blocking the Burn vote until they themselves have bought enough cheap DGD to burn

Eventual Step 2 - the burn vote is approved, boom instant profit.

Anyway, guess what I did, being the opportunist that I am?

I freaking bought back some DGD! Lol!

Hasn't even been a month, but based on the current ratio of DGD/ETH, I'm already up 14% in ETH.

Anyway, this has CORPORATE RAID written all over it.

I wouldn't be surprised if some funds have been accumulating large positions in DGD simply so that they can take part in governance and vote for the burn, and then are able to instantly sit in ~100% unrealized ETH gains until they decide to burn out their position.

In fact, there is already a suspected party doing this which is involved in this quarter's voting.

By the way, there's nothing malicious with corporate raiding. It simply means investors' think that the business has shit prospects are their assets are worth more than whatever the business hopes to earn, so it's better just to dissolve the business and liquidate their assets.

The game theory of this is NOT complex at all (unless I'm missing something?). It is an eventuality that the burn will pass, and when it does, the price of DGD/ETH will shoot up to the realizable ETH value if DGD is burnt. It is not rocket science.

Even if the burn does not immediately pass this quarter, I'm highly optimistic that EVENTUALLY I will be able to sell at a decent price, near the NAV which is ~0.18 ETH. Incidentally, that is about a 100% profit for me if that happens. Though I'll concede that it is likely to pass with a 10% exit tax, meaning that the first burners will realize a DGD burn value of 0.168 ETH, but that's still a very decent +85% profit for me,

I was prompted to write this post after I saw this post by The Babylonians on how they decided to exit their DGD position.

Funny how fate has it, that after me being vocally against DGD for months, I've entered in a position just coincidentally after someone did a great independent fundamental review and decided to exit their position.

I wonder who will be right. Them? Me? Stay tuned to find out! By the way, in case it was not obvious, their base is using SGD, where my base is using ETH. So mileage may vary.

I'll update again later in the future to gloat about this insanely obvious opportunity. Or maybe I'll be wrong. Heh. Who knows?

Worst case, lose money only lor.


Tuesday, August 6, 2019

Crypto is Simpler than the Current Financial System

People think crypto is complex.
Yes, it is complex.

But compared to the traditional financial system?
It's friggin simple.

Who decides how much money supply is there?
Who checks how much money is there?
Who can verify how much money is there?
Who decides how much NEW money is printed?
Who decides WHO this new money goes to?
Why do these people get the new money? Why not you?
Who can veto where this new money is going to?
What say do you have in this system?

I can bet that you can't answer all the above questions about the traditional financial system.

I can answer these questions about crypto.

Crypto is transparent and open for all to see, learn and use.

The current financial system is opaque and restricted only for those in power to unilaterally decide to do what they think is best for... who? For you? Or for themselves?

WHO even are the people that decides all these things? Are they even accountable? Do people even bother to hold them accountable?

WHAT are the repercussions if they fudge up? Who bears all their mistakes?

You think crypto is a scam or a ponzi. You won't trust a publicly accessible open ledger that is mathematically verifiable by anyone in the world.

But you trust your bankers to sell you mutual funds and whole life insurance, as they drive fancy cars, live in expensive condos and go on luxurious overseas holidays. Definitely NO conflict of interest here, right?

Have you even seen a poor banker? I wonder WHO they make their money from? Not me, I can assure you. So, perhaps... from you?

I'm not here to tell you the answers. I have all my own answers.

I am here to ask you questions. Questions that you SHOULD know the answer to.
But questions that you will never know the answer to.

Do you really think that it is okay for you to not understand all of this? Just trust that "someone", some government official, some ministry, some minister, some banker, is doing a "good job" for "you"?

The alternative is not to rely on "trust" and blind faith of some higher unknown power, but to be able to verify for yourself.

That is not only the promise of crypto, but it is the reality of it.

At the foundational layer, trust is not required. Everything is adverserial. It is precisely because I don't trust you, that absolutely everything is check and verified to be correct and true. The layers that are building on top of this blockchain world either carries over this same principle of "don't trust, but also verify" to eliminate trust issues, or to build trust-minimized systems where the bare minimum of trust is required to operate.

So here you are, logical reader, at this crossroad. What do you do?

Continue you down the merry path of being totally oblivious to the financial system that you are completely in, yet having no idea of how it works, and who it works for?

Or consider the alternative, where the system is public and transparent.

Obviously, I have chosen the latter.

But this isn't about me.

It's about you.

So what will you do?

Monday, August 5, 2019

The Current Crypto Narrative

So, this is the current narrative that is going on, and will go on wrt the macro lenses of traditional investors.

- USDCNH broke 7, XAUCNH broke 10,000 = China can't keep their shit together
- USDKRW broke 1200 = new Asia getting rekt as well
- Japan yield curve inverting = shit gonna htf
- US bond yields dropping
- larger % of global bonds going deeper in negative yields (23% of all global debt, last I heard)

Basically, negative yields means crazy shit is happening.

How will most countries react to an economic recession, since they haven't had to face a global one in the last 10 years? Some might say even close to 20 since the last recovery was on the back of extreme intervention.

It is likely that majority will simply default to the path of least resistance and lowest short term pain, which would be to print money and inflate themselves out of debt issues by depreciating their currency.

That has ALWAYS been the playbook since money printing costs nothing short term.

Well, it costs nothing until the faith is rattled and lost and people refuse to accept and allow their money to have their purchasing power deflated away.

Not surprisingly, BTC and the general crypto market is now getting sent up along with this narrative.

Why? What does crypto have to do with anything?

Well, BTC and ETH are just the major cryptocurrencies that CANNOT be printed. They have a known global inflation level that is DECREASING over time (~4% now), but that's it. Supply and demand affects the price. No one can unilaterally decide to "print" more BTC or ETH and make everyone rich. Their known supply and inflation schedule makes them scarce.

As each day goes by and the world progresses deeper into the digital age and more people realize and understand what is going on, more money slips out of the traditional financial system and finds PERMANENT home in cryptocurrencies - currencies that are unseizable by any government or authority, that are outside the monetary manipulation of the traditional financial system and those that control it.

Now add that to the DECREASING supply schedule over time. Less and less new coins will be minted into existence. BTC new emissions halves ever 4 years. ETH new emissions are adjusting downwards to further reduce inflation, but still be secure against blockchain attacks.

Add both of those together and that means fewer and fewer of these coins will stay in circulation. As the demand to hoard them increase since they cannot be printed, a lot of available supply will be taken off the markets, leaving less and less coins for a growing demand. It'll be a double whammy as fiat currencies accelerate their depreciation, while cryptocurrencies start to skyrocket in value.

Honestly, it's beyond insane for me to think that people in modern day 2019 living in a country with largely free access of information is unable to get their hands on *some* cryptocurrencies.

For me, I sleep well at night. I have an extremely significant portion of my net worth in cryptocurrencies. I have converted most of my family and friends to hold some cryptocurrency, and many more have been exposed to the idea.

I'm not in the business of evangelizing people to be crypto enthusiasts to buy my bags. I don't give a shit what you do. None of my business. Buy crypto. Hate on crypto. I sleep well at night. My thesis is sound.

You think I don't have all the apprehension and questions that you have right now? I don't know that it sounds like a ridiculous ponzi at first glance? Lol. Sorry to burst your "genius" bubble, but I had all these same doubts in 2013 and have been actively questioning them to find out the answer. And after I did, I've gone all in.

It's my money, my choice. I don't need to give YOU a reason. And of course, YOU should not be convinced to buy shit that you don't know or don't understand because of some pseudo-anonymous schmuck on the internet saying that all no-coiners are plebs. But, yes, all no-coiners are plebs. Kek.

People think that at the end of the day, I'm going to sell my cryptocurrencies back to SGD and make a huge profit.

That is wrong.

At the end of the day, my cryptocurrencies will be seen and viewed as money itself, and I will have complete freedom if I choose to continue to hoard them, or spend them. Crypto is rare and precious. Fiat money is infinite and everywhere.

Friday, August 2, 2019

Negative, here we GOOOOO

So yeah.

Yields are dropping!

That means bonds will go up in price, right?

Like the 100 year Argentina bond? Oops, it went from $79.98 last year to $70.04. How... ODD.

I've always found negative yielding bonds very strange.

I was never taught about negative rates when I was in business school.

Oh well.

While people are buying negative yielding Bulgarian and Italian 1 year bonds, I'm putting crypto USD into online lending pools and earning 12~15% APR.

But don't follow the stupid things I do. Those kind of returns, CONFIRM SCAM or PONZI right?

I mean, it can't possibly make sense, right?

Except when it does, I suppose.

Good luck with dealing with negative bond yields guys.

Personally, I think it is extremely retarded to lend people money and get back less, lol. But hey, if you think that's a good idea, THUMBS UP MAN POWER TO YOU.

Wednesday, July 10, 2019

Watch out for Interest Rates

It should be clear that I mostly blog about crypto these days.

However, one of the things that I still loose keep tabs on is the interest rates.

Data from here.

While everyone is getting giddy with fixed-income and fixed-income alternatives (like REITs) getting good capital gains YTD, I am very wary how long more it can continue.

The yield curve has inverted in the middle, it looks retarded.

Bond yields are going negative world wide and even in Singapore we are steadily marching towards that zero bound.

Things look ugly to me.

Just saying.

Friday, July 5, 2019

Simplifying my Finances

Just excreting my thoughts out here on my blog, don't mind my mess. People say I don't blog enough, so here you go.

I have bank accounts with the following banks:


I have decided that I am going to cut away everything to just 2, maybe 3 banks. Still thinking, but haven't decided yet.

Probably will keep OCBC since the 360 Account is _okay_ and the 365 card is also decent. I spend most of my money on food, so that 6% cashback is a decent reward.

DBS is actually the account I *USE* the most, because of the easy FX transfers. Basically, 0.7% FX spread for same-day transfers. If anyone has a better lobang for sending and receiving FX, I would love to hear it. DBS also has the best ATM network, hard to beat that.

I guess I'll kill off the rest, and yes, that includes the Citibank Maxigain account that I rave about so much. Why? Well I get 8%++++ with crypto USD, with no minimum deposit and no lock ups or funny calculations. Paid out daily/weekly/monthly depending on who I deposit with.

And in that sense, I really give almost zero or no shits anymore about maximising or optimising my credit card spending rebates / cashbacks or my bank deposits interest rates *gasp* . It's jumping through hoops for tiny scraps, when I have access to much higher returns. Of course, no risk, no rewards. Don't blindly follow the stupid things I do. I am GMGH after all, and you're just a normie.

I will also be simplifying my credit card situation. Planning to cull everything down to just 3/4 cards:

1. DBS Passion Card / Mastercard Debit card / ATM card / EZ-Link
2. OCBC 365 Visa Credit Card
3. Monaco Crypto Visa Card
4. TenX Crypto Visa Card

I must admit that I was too quick to judge Monaco back in the day. I now have a nice flashy METAL Monaco card in my wallet, and I've used it to convert crypto to SGD to spend just like a debit card, and I've even withdrawn cold hard SGD cash from the ATM. It's quite nice.

The crypto cards are nice because they basically allow me to CASH OUT my crypto to the tune of ~$2000 SGD a month ATM cash withdrawals + whatever I spend on the card themselves. Basically, it's a very easy, fast and flexible off-ramp out of crypto.

This allows me to keep the vast majority of my networth and wealth off the grid and in the cryptosphere, and lets me have full financial control over how much money I want to re-inject back into the traditional banking system to meet my expenses.

Anyway as such, I plan to cancel all my other credit / debit cards and keep my card situation very plain and simple.

In terms of insurance, that part of my life has been dead simple since May 2017. All I do is just to check and confirm that my premiums are paid and my policies are still in force, every now and then. I never ever think about insurance.

In terms of retirement planning, well let's just say that even after crypto's deadly bear market, my profit from crypto is in the healthy 6 figure sum.

As crypto continues to mature, there will be plenty of opportunities for me to squat on income producing assets, or even just highly appreciating assets and realize massive capital gains later.

I know it sounds retarded to even talk about, but the "income" I am getting from crypto on a monthly basis is ridiculously high. I expect the yields to continue to compress massively as "finance bros", perhaps like yourself, realize how disgusting the yields are in crypto and come to farm them. Why risk trying to get 8% with stocks and assume downside risks, when you can eat 8% APR paid out weekly with only blackswan risks? I know I wouldn't. And I walk the talk.

I am ideally targetting a comfortable low 4 figure WEEKLY income by end of 2021. Again, I know, it sounds absolutely retarded even just saying it. But oh well, let's see how it turns out.

I actually tweet a public crypto address that showcases part of my weekly passive income claims. It was ~$500 last week. And mind you, it is PART of what I do.

Anyway just do your own research and buy your own things after your own due diligence, and I will do my own things.

So, wow, lots of ramblings.

Action points:
- Close bank accounts
- Cancel credit cards
- Simplify and consolidate finances