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

Monday, July 1, 2019

Crypto DCA Portfolio - Last Update LOL

Lol, well that was short-lived.

Since 31st May til 18th June I managed to sink in 4 rounds of $500 into to execute my monthly DCA plan.

Quick math will get you at 4 x $500 for $2000 capital.

I also kept with the 40/40/20 split the entire time.

So initial capital were as follows:
BTC - $800
ETH - $800
BNB - $400

With those monies, I managed to buy these:
0.0703 BTC
2.303 ETH
9.15 BNB

The current market prices:
BTC - $14930.92
ETH - $400.08
BNB - $43.82

At the current market prices, these crypto I bought are now worth
BTC - $1049.64
ETH - $921.38
BNB - $400.95

For a total value of $2371.97.

Bringing my total profit to $371.97 or 11.89%.

But alas, all good things must come to an end. I have decided to stop my DCA strategy. You still can continue to do so on if you want to. My referral link will give us both $20 SGD when you trade $100 SGD worth after completing KYC. is hands-down the cheapest and easiest way to buy crypto with SGD, unless you're planning to frequently buy with 5 figure sums.

But onto the bigger question.

Why did I stop?

Well, because on 20th June I decided to FOMO back into crypto and I put in a non-trivial amount of fiat and bought BTC at ~$9700 USD and ETH at ~$270 USD.

I'm up 13% on my BTC trade and 9% on my ETH trade already, hehehe.

So because I pumped in more money, I've decided to close down this strategy since I've now reached to high levels of crypto exposure much quicker than I had anticipated.

On the bright side, remember this post where I talked about extremely high yields from lending USD stablecoins? I'm *DOING* active research into this by testing all the channels and transfers WITH MY OWN MONEY and I'm hoping to finish all my information gathering and testing by the end of July so that come 1st August I can start another public portfolio to show you how I am getting sick 8% gains in USD with only tail end black swan risks.

I'm already farming 14% APR on a USD stablecoin, but the process is far too complicated for you normies to understand, so I will NOT be talking about it since it's more likely that you blow up your capital from screwing up on-chain transactions than to eat 14% APR and live happily every after.

As always, crypto is super dangerous af, so you should only buy in when BTC is at $100,000 and your government says its okay and not a ponzi anymore, and DBS has a unit trust that you can buy in to get exposure, sold to you by a cute XMM, LOL.