Wednesday, December 16, 2020

Closing 2020 Thoughts

A bit early, but that's okay.

2020 has been an extremely blessed year for me. I have made more money this year that I ever dreamed possible.

Whatever I thought I'd make from crypto by the time I am done with it when I first started, I have made significantly more, and I am still not done yet.

Moving forward in 2021 and beyond, my goal is to maintain extremely heavy exposure to crypto until a retail mania begins (ends).

If a retail mania does happen, I will be playing the irrational sentiments and try to sell around the top, to later buy back around the bottom.

Particularly, I will be looking towards the SG financial blogging community for sentiments. I believe that even regular people will be in before them, and the majority of the bloggers will be among the last few of the herd to enter, and when they do, it will be around the top. When the bloggers start talking about cryptocurrencies and disclaimer that they are "opening a small position", that will be my signal to begin exiting the market.

One important thing though, is that I will never, ever be fully selling off all my crypto positions.

I now fully believe that my goal should be increasing the number of coins, aka my % ownership of the network, in important cryptocurrencies, and they will be my stores of wealth or productive digital capital assets that will work for me in the future.

As such, it is insane for me to imagine shifting the majority of my portfolio back into depreciating fiat during the next retail mania peak.

I will always maintain crypto exposure, just varying degrees based on market sentiments. I never want to be "caught naked" and be stuck in a large fiat position anymore.

"Set aside enough fiat so that you can live off the interest"

Okay, already did that and earning 5 digit interests every month. 

Okay, now what?

6 digits? $100k monthly interest? 

To do what? 

Every day eat Michelin stars, every week buy new watch, every month buy new car?

Exactly.

There's nothing else after that already.

You have a house. Or two. Or a few.
You have material wealth and luxuries.
Sports cars and watches maybe (absolutely ridiculous, but if you have money to burn, why not?)

Okay, now what?

The conclusion is *always* the same - any wealth earned above and beyond what can be fully spent or utilized as capital base to generate interests, I would put it back into crypto.

The entrance of institutions have changed the way that I will be playing the game.

In the past, it was a meme that "institutions are coming".

This time, institutions are indeed coming, if not, already here. But many are too biased and remain blind to this happening before their very eyes.

The long game goal for me now is to hoard and squat on as many coins as possible.

Of course I will focus on my personal life, but I would think that I would still allocate a fraction of my time to continue doing what I do best, which is to preserve and generate wealth with cryptocurrencies.

A lot of people still don't get it.

A lot of people never will.

It's okay. 

If everyone is extraordinary, then who is ordinary?

Friday, December 11, 2020

DBS shilling risky digital rat poison ponzis

https://www.straitstimes.com/business/banking/dbs-to-launch-digital-exchange-crypto-trading-may-start-as-early-as-next-week

Gross.

Can't believe that a legitimate institution like DBS will be risking their reputation to sell such worthless garbage that is *CLEALY* only for gambling and speculation.

This is so disgusting.

Luckily, it is only for accredited investors so that the simple-minded poor plebians won't have access to it.

Akin to having barriers of entries to the casino so that the poor dumb folks won't lose their money. 

Thankfully MAS is regulating so well.


---------------------------------------


Obviously, that was sarcasm.

I've talked about this before. 

Anti-crypto financiers are the new "internet won't work", "who would ever own a car instead of a horse" people.

Imagine living in 2020 and still thinking Bitcoin is a scam.

Saturday, November 28, 2020

Spot Long and Chill

Since being bearish DeFi throughout October, I flipped bull very early Nov and I got back into my positions at fantastic prices.

I am now just very simply and very boringly spot long and chill.

I have already taken out my entire seed capital.

I have also realized a very large sum of profits. 

I have set aside this money to allow me to continue with my life plans without worrying or being reliant on the the performance of the crypto market for the rest of my life.

I am now playing with house money to try and hit stretch goals, but I am still playing to win.

I expect the upcoming crypto bull run to be mind blowing.

A goal of mine is for my public ENS to hit 8 digits. Now, that would be a real flex.

Wednesday, November 18, 2020

Quick Post

(drafted on 16 Nov)

I am getting more and more convinced that it's just before the full blown crypto bull market genius ape season.

16k BTC is holding.

So is 400 ETH.

DeFi was going to head lower, but that stopped short with the heavy BTC flows. Big volume of real accummulation in DeFi came through. Those lows were strong lows and falling through those lows in USD levels are now very unlikely, in my opinion.

If you know what a "spot driven rally" is, this is what it looks like, particularly for Bitcoin. If you know where to look, you'll be able to see this for yourself as well.

Derivatives on the majors have been very under control on this move up, meaning that this isn't a move fueled on speculative longs.

Paypal coming online offering access to normal folk. DBS exchange soon for local normies.

Big names in the investing space starting to talk about it.

What happens next?


-----------------------------------------------------------------------------------


2 days later, we're sitting at $17k+ BTC.

ETH looks like it wants to break $500.

How much higher can this go?


Well, how much crypto do you have?

Does your family and friends have?

How many people still think it is a scam?


Once the rest of the SG fin blogging community starts covering cryptocurrencies, that means we're reaching peaked pleb mindshare. 

Some people are smart money. Others are sheep that think they are smart money.

Might not be what you want to hear, but sorry that's just how the markets work.

Wednesday, October 28, 2020

(Future) DBS Digital (Cryptocurrency) Exchange?

It is 2020.

If you *still* think Bitcoin is a scam / pyramid scheme, you might actually be extremely low IQ. Functionally retarded, perhaps.

It is one thing to admit that you do not understand it.
To say that you are not comfortable with it.
To say that you do not believe that it will accrue value for XYZ reasons.

It is another thing to say it is a scam.

That said, that does not mean that it can only go up. 

I actually find this narrative shift since the last cycle to be very interesting. 

Semi-intelligent people no longer ask if Bitcoin is a scam anymore.

Instead they ask, is it over? How much higher can it go?

The DBS news yesterday was very surprising to me.


Not because I did not think that this would happen, but I was not expecting it to be moving so quickly.

Hilarious that they had to pull the news because they don't have the proper final approvals yet, haha.

Anyway, imagine being late and missing the opportunity countless of times over the past few years to invest into a paradigm changing technology that has minted countless of millionaires just because you listened to some old non-tech savvy investor called Warden Bufflet.

I can't imagine that, because that does not apply to me.

Now imagine being a financial institution or observer and watching Bitcoin and cryptocurrencies have all the necessary infrastructure being put into place for mass adoption and you still think it is a scam.

Have fun staying _____. 

Tuesday, September 8, 2020

House Cleaning

Might be sudden, but surprise!

I decided to nuke all my posts, save my very very first post on this blog. Nice to look back at a post I wrote 7 years ago and nod to my past self and say that, "Yes my past self, I made it and we are millionaires now. Not only just that, but multi-millionaires!"

I have been wanting to brush up opsec a bit, but in the end I just nuked all my previous posts because I am too lazy and busy to vet through them one by one at this time.

If there are any particular posts that you would like me to republish, let me know and I'll see if I can put it back up.

Other than that, I am really too busy making absolutely ridiculous amounts of money in the crypto world.

When the money printing dies down and the markets become more calm, I'll likely go back to my old posts and republish some of my favourite posts.

I do not have to prove anything or try to convince you. You can choose to believe me or not. Your prerogative. Those of you in the markets are the "few that understand" are probably laughing all the way to the bank with the insanity of the markets now. Enjoy it while it lasts. I wish you guys all the best. Remember to stay safe and bank profits.

Sunday, July 12, 2020

189 IQ Memes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Monday, June 29, 2020

Many of you will regret Crypto

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

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

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

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

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

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

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

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

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

Meh.

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

I must admit, it is very petty.

I can be a petty man.

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

Well, that gives me a high.

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

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

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

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

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

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

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

- GMGH July 2017

Wednesday, February 12, 2020

GMGH's Crypto Starter Pack v3.0

I think there's actually a lot of people already interested in the crypto space and are just not sure how to start, or are getting interested with the recent headlines on price, so here's my refreshed v3.0 starter pack to hopefully help out a bit, since my last post was last 2017 and a lot of things have changed since then.

Password Manager

Essential for enhanced security since you will be solely in charge of managing your digital assets.

I shill Dashlane a lot, but I don't need to include a ref link because I've referred so many family and friends to use it, that I have free membership up to their max, which is til 2023, lol. But if you want to use my ref link, it's on the right sidebar.

I have heard that Lastpass or 1Password are good too.

Honestly, really doesn't matter that much, as long as you have one.

2FA

You can use Authy or Google Authenticator.

You should NEVER use SMS 2FA because your telcom can be attacked through identity impersonation or even a rouge employee.

Use one of the above, or something similar.

SGD/USD Bank

Since most exchanges accept deposits in USD, the question is how do you get SGD to USD to enter, and later USD back to SGD to exit?

Personally, I use DBS and DBS Remit, but basically any bank with USD sending and receiving capabilities will work.


Fiat-Crypto Exchange

There's a ton that you can choose from, but I can only speak for the exchanges that I have used myself which I personally found to be pleasant and fuss-free.

Binance.sg (SGD) (ref link for bonus $20 SGD after first $100 traded)
Coinhako (SGD)
Gemini (USD)
Bitstamp (USD)

USD Stablecoin Tokenizers

With the rise and popularity of stablecoins, an alternative route of sending SGD as USD to crypto-fiat exchanges is to actually send SGD to USD tokenizers, and generate a stablecoin, which you can send to the crypto-crypto exchanges for trading instead, or to use as deposits for lending platforms or DEX lending.

I think Circle (USDC) is the great. Paxos (PAX and BUSD) are good too, while Trust (TUSD) is the least popular. I have accounts with all of them, but that is because I am a crypto power user.

Crypto-Crypto Exchange

Goes without saying that the hands-down best crypto-crypto exchange is Binance. From then onwards, it really depends what kind of niche altcoins you want to trade at. I find both Kucoin and Bittrex to be legit, smaller exchanges. My referral link for Binance gives you back 20% rebates on all your trading fees (the maximum possible kickback)

However, a new breed of decentralized exchanges are becoming very popular, but requires high level understanding and familiarity of using Ethereum. Instead of directly using the different individual decentralized exchanges, I'd recommending using a trade and liquidity aggregator (something like skyscanner or agoda lol) to source the best price for trades.

1inch.exchange, DEX.ag and Paraswap are your best choices for Ethereum liquidity aggregators.

Crypto Lending / Interest Earning

One of the biggest new sectors that have emerged but was non-existent in the previous bull market (for regular people, anyway) is the existence of crypto lending (and borrowing) platforms.

For the custodial options, obviously you know that I have a massively strong preference for BlockFi and have myself put in a sizeable amount of crypto assets there. Not only do they support earning interest in BTC and ETH, but they also support USDC, so you can earn 8.6% pa on USD with no restrictions. If that isn't mind-blowing, I don't know what would be.

Other custodial options include Celsius and Nexo. I have also used both, and I believe that both are fine, although I have a better impression of Celsius, while Nexo has a nicer interface,

For non-custodial options, similar to decentralized exchange liquidity aggregators, you should bypass the lending platforms directly and instead use the yield aggregators, which will automatically shift your assets from platform to platform to ensure that you are always earning the best rates.

Idle Finance, iEarn, Staked's RAY are 3 such products in the market now. Topo Finance is in beta and coming out soon.

Hareware Wallet

Once you have a decent amount of money in crypto, you would want to get a hardware wallet.

Get a Ledger or a Trezor. Personally, I have both and have used both. I used to prefer Ledger, but now I prefer Trezor.

I have bought a couple from Pennywise, which is an authorised retailer. You can shop around, there's probably more sellers now.

Closing Thoughts

The crypto place is scary and dangerous.

If humji, please don't do.

If want to do, please use your brain, get yourself educated, and go out and take risks and make the returns.

Don't listen to anyone without identifying their agenda or bias. Even me. For example, I'd prefer if all of you sign up with my BlockFi ref link and swap all your SGD into USDC and just earn 8.6% pa there. That is my obvious bias. But I walk the talk. I have been a customer and depositor for over a year. Yet many people out there be shilling shit that even they wouldn't touch themselves, if not for the perverse incentives for them to shill it.

There's so much bullshit in the space, you need to be able to smell it and cut through it.

Be wholly and fully responsible and walk into every action and decision with eyes wide open.

The crypto place is not for lazy silver spoon crybabies.

I have seen most people in the space get rekt.

Too much greed. Too much risk. Too much trust.

Not enough skepticism. Not enough diligence. Not enough brain.

Just assume that everyone is out to scam you or screw you, and you'd probably be fine.

I even have people impersonating me and trying (and some have been successful) to scam people.

No kumbaya or hand holding in the crypto space. It's a dog eat dog world out there, and it's best to be entering in with a steeled mindset about all the crap and nonsense that goes down in there. It is brutal and ruthless and lawless.

If you are ready and willing to risk it all in the pursuit of glory, suit up, and roll out.


Remember, no one else is watching your back, so stay safe out there, you hear?