Monday, June 28, 2021

Retiring

Twitter has been a generally good experience. 

I met a lot of smart people and discovered many projects and also opportunities.

I met a lot of funny people that made the whole journey a lot more entertaining.

I would not have made as much money as I did, were it not for being part of Twitter.

However, now it is just a giant "zoom out" cope pity party. Honestly, it is very pathetic. A lot of people that I thought were good actors actually just have massive egos and have fallen for clout chasing and popularity, rather than actual money making. I have realized that it brings no benefit to my life to interact with such people, except exposing myself to their egotism and poverty mindset.

Twitter is a very toxic environment for your wealth currently, and I think it is not good for most people to remain in such an environment unless you have strong natural defense against psyops and bullshit. Even being someone like that, I find it too much and not worth the benefits, so I have decided to walk away.

There is nothing interesting about crypto at the moment, but I am very sure that it will eventually become interesting again, once the speculators and weak hands are flushed out, and the projects and developers can focus on building useful things. 

Things are going EXACTLY as you would expect.

I am not sure why so many people are in absolute denial about the reality of things.

"But this time is different"

Pure unfiltered raw cope, directly from the source.


I personally have LONG TERM indicators that are telling me that we are nowhere even near the bottom. Don't ask me what they are, because I am not going to tell you. Do your own research. Build your own conviction. I can't buy for you, and I can't sell for you. You need to do it yourself.


As I have quit Twitter, I actually also plan to quit blogging too.


I may return one day, but for now I am just cutting off distractions in my life to focus on things that I want to do, and that does not involve arguing with internet strangers who have been objectively wrong the past few weeks and months.


Like I said on Twitter, some of you guys are all right. Some of you are eager, genuine learners trying to capitalize on the amazing opportunities in crypto. 

Sorry that you started your journey late, but I am only human and I am tired from teaching. All the best to you.


#1 Survive
#2 Find the bottom
#3 Buy it


This is my plan as well.

Good luck people.


Remember, money is not the goal of life.

No point having money if you're an evil person without happiness.


I wish you all well.


G

Saturday, May 22, 2021

I sold my tokens; Suggest you do the same.

Did that almost give you a heart attack? 

Haha!

It is a popular crypto meme.


I am not sure if this is a function of me being in the crypto markets for so long, or just my mental illness,

But I am largely unfazed about this crypto dump.


I have been steadily taking profits as we rode up and I am happy that I have done so. 

I have built up a massive cash position over the past weeks, 8 figs worth of stables that are actively deployed and earning well in excess of 10% APY.


If you assume I am a pleb with only $10M @ 10%, that works out to be $83,333 a month.

But around these parts 

- we don't use SGD, we use USD

- referring to 10M as 8 figs instead of just 10M is very tiny pp

- 10% yield is a clown rate meant exclusively only for the CeFi plebs

Adjust accordingly.


If the market dumps and bears, I have a thicc fat stable position that just shits out money for me constantly. This is the massive risk premia you get as a defi farmer by not being a tradfi pussy boi. Unfortunately though, the yield will quickly collapse into the teens and then into single digits % if the bear rages on.

If we can get to depression levels, I will have plenty of ammunition to buy some of your bags at -80% discounts. I won't buy all your bags, because some of you are holding pure garbage that are going -99% and aren't coming back.


If the market crabs and goes sideways (very unlikely - markets go up or down, but very very rarely sideways), I continue to print money from both my stables + crypto positions to the tune of 6 figs a month.


If the market bounces and continues the bull run, I am still long and strong with a fat stack of crypto that I hold which will scam me into being ultra rich. I can also re-deploy my stables and continue riding the trend.


I think you can see just how indifferent I am about what the markets does right now. Of course, going up is my preferred outcome since that will make me the most money, but one man and his hopes is not what determines the market.


Hope is not a strategy.


Anyway, I literally cannot be shaken out of my positions.

I am not leveraged.

How much was the number that people were saying you need to have in Singapore to retire comfortable? 

$3.6M? $4.3M? 

Doesn't really matter. I have enough


Mentally, I am prepared for any outcome.

Best case scenario, I continue getting scammed into being ultra rich.

Worst case scenario, we just wait another 4 years for the next cycle, lol.



Welcome to crypto!

I hope you're having fun!

Wednesday, May 19, 2021

Evac BlockFi

Quick post.


I actually had a draft post about why I think BlockFi is a very risky custodian to park your assets with, but I never got around to finishing it up and posting it.


2 reasons.


1. They are mega cucked on the GBTC "arb" trade.


2. They screwed up a promotion and credited people with BTC instead of USD (ie. credit 100 BTC instead of $100), and apparently people managed to withdraw BTC before BlockFi realized they were processing withdrawals for people that actually don't have any BTC.


I migrated from BlockFi awhile ago. With their really low rates and all their problems, I think that it is actually very risky to continue leaving your money with them.


I have no funds in BlockFi and I would not recommend anyone to open an account with them or to keep funds with them at the moment.


I personally have over 8 digits with Celsius.


Just saying what I have done for myself. Not asking you to follow suit.


Good luck and stay safe.

Friday, May 14, 2021

Questions regarding Crypto Bear Market

If you read my recent low troll post, and my 2020 year end closing post, you would know that although I call crypto digital rat poison ponzis all the time, I am a long term crypto omega bull.

I firmly believe that we will see the separation of money and state within our lifetimes and it will be because of crypto.

Will it be Bitcoin? Or Ethereum? Or something else? I do not know.

But the really rich and highly educated people no longer debate whether Bitcoin or Ethereum is a scam anymore. Merely asking that question is a self-dox of being a cockroach tier low IQ tradfi NGMI HFSP no-coiner.

They ask themselves questions like, is ETH a better play for the mid term?

Will BTC still be the most resilient asset in a downturn? 

Will BTC's PoW consensus be an issue? Will ETH's PoS change be a game changer?

How quickly would these assets be institutionalized and how much money will be flowing in?


And these questions will naturally lead you to the same conclusion:

Significant amounts of wealth will be stored in crypto, and that you do not own enough crypto. 


That being said, crypto is similar to all financial assets in the sense that it is subject to the speculation and greed of human participants, which causes volatility and drawdowns.

Does drawdowns and bear markets make it a bad long term investment? Probably a question you need to ask yourself.


Eventually, one of these days, we will get a crypto bear market.

- on chain yields will drops to low single digit % (1-6%)

- CeFi yields will drop to mid single digit % (4-8%)

- basis trading will likely yield around 10%

- non-USD yields will be non-existent outside of protocol inflation

- most alts will get smashed -80% against BTC / ETH

- BTC / ETH will get smashed ~50% in USD

- many projects will be abandoned

- many projects will exit scam 

- many tokens will be nearly worthless

- majority of NFTs will have no bids

- gov tokens will plunge in value as there is nothing to govern

- BTC.D / ETH.D will rise


I do not know when this market tops, but I am still long and strong. 

I progressively take profits, not because I need to, but because it helps me mentally stay steadfast in the positioning for my remaining portfolio.

I am always looking for changes in the wind and I am ready in both mind and body to restructure my portfolio significantly based on my reads on the market and how I expect things to play out.

The recent comments by Elon might be the turning point that ETH becomes the most likely competitor to usurp BTC. Many think it is not possible, yet this is something that I viewed as inevitable, although I was not banking on the weak BTC narrative to be realized by the market so quickly.


Anyway, I do not know how the market plays out. 

Will it crash soon? Will it crash ever? (Yes.)

When is a good time to buy? What is a good price to buy? (Yes.)

Which asset to buy, and when to sell? (Yes.)


If I knew, I'd just bet all my money + borrow from others, rather than tell you for free right? 


I am just betting that crypto "number go up" in the long run and there's nothing you can do about it, except to capitulate and join the ponzi early and be rich, or late and continue the plebian lifestyle.


I hope you're having fun.

Saturday, May 8, 2021

A Rare Crypto Minimal Troll Post

Hello dear reader.

I get a lot of feedback about my writing style and the persona that I adopt - some of you absolutely hate the arrogance that oozes out of every pore of my existence, some of you are thrilled and squeal with delight everytime I drop down the "HFSP" hammer on the no-coiners tradfi bros.

Truth be told, there is no need for me to be another basic crypto cheerleader. Across the various social media platforms, there are plenty of people willing to shill you crypto at all different levels, from multiple point of views. But for obvious reasons, that strategy fails to target the complete spectrum of no-coiners. And that is where my persona comes in. I will inadvertently psyops the remaining people to join this revolution by just simply flexing the truth.

That is why I feel comfortable with my style, since it self-selects the people who are willing to self-educate. Those that end up taking my HFSP bait are the cut-off, and beyond that is generational HFSP.

That is one of the reasons why I begrudgingly still maintain my public ENS - simply to flex the truth. You should know that it is actually quite costly for me to flex, since I cannot play freely and without constraint since it is an address being carefully watched by everyone. I might close up that address one day.

Maybe I should be "humble" with my "luck" and not be so "arrogant"? The truth is the truth, whether you accept it or not. 

But I digress. If making money in the easiest market in the world and being rich won't convince you to explore this industry, then honestly and truly, you are destined to have fun staying poor.

When the mind has closed itself off to accept new external information and loses its ability to recalibrate and re-route, it is a lost cause. There is no point arguing with the stubborn. You can only wish them the best and hope that they have fun.


I have resigned to the fact that I cannot and I do not want to go out of my way to convince random people to engage in things that is likely above their IQ grade and will get them absolutely rekt. 

Getting absolutely rekt is not an exaggeration - most of the people I know that entered the space got brutalized and massacred. Many from leveraged trading. Many from buying absolute trash. Yet, in that same vein, the handful that survived and soldiered on, are burning brightly and gloriously on their own merit. It has been my honor to have been the BMT sergeant to some of them and to teach them the basics to survive in this hellish battlefield, but many have now branched out to things beyond my own areas of expertise and have managed to thrive and succeed through their own hard work. The landscape is so vast, we all don't need to till the same area with the same strategy to make it.

Most players that survived the last bear market are now sitting on at least 6 fig profits. You'd be surprised how many 7 figure crypto vets walk amongst us, shit posting all day long.

One of the main reasons why I shadowbox with "tradfi banker bros" is due to past real life interactions that I had with many, many of them. Tradfi players across the whole spectrum, from RMs to analysts to fund managers. Every single time it was regurgitating the same Buffet-esque points over and over again.

The same disgusted dismissive look when they realize that they are in contact with absolute trash degenerate filth that is socially beneath them.

But now though, I don't have to listen what these lesser performers have to say. 

Why listen to people that you've already beaten, in this money game called "investing"?

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

One of the strangest things that baffles me as someone who has been at the extreme deep end of crypto for a while now, is hearing this repeated notion of "taking profits in crypto and then moving it back into SAFE / REAL assets, like stocks or real estate".

I'm going to be frank with you - I believe that to be cope, poverty thoughts.

It is a massive delusion that "crypto" as an asset class is unsafe, not tangible, exists in a transient state of legitimacy, at the complete mercy of government regulations for it to be useful or valuable.

The irony of crypto being "unsafe" or "not real" is hilarious to me, because I view Bitcoin now as the default option for my own long term store of wealth. I have zero desire to own any stocks or other "financial" assets simply because I do not believe that they can or will outperform money printing. And the added bonus of being a digital asset, Bitcoin has an in-built a call option if it ends up being used in the digital future. 

Here is a framework that I would like to share: 


The long term thesis is dead simple - A useful digital asset that is also hedge against money printing.

The mid term (2-4 years) is driven by the hype/interest/investment cycles. After price is depressed and short term speculators leave the system, the system continues growing and building value (because of the long term), and new participants and money enters the space. Price rises, hype increases, speculation returns, prices explode up.

And at some point of this mid term cycle, the incoming demand of money gets engulfed by the supply of sellers - participants who were early who are sitting on large unrealized profits and they want to cash out to buy their fancy cars and watches. When this happens, and sell supply is more than buy demand, prices fall and get depressed, and the cycle continues.

It is momentum up, it is momentum down.

This ain't rocket science. It's basic supply and demand, along with human greed. 

Don't confuse the mid term with the long term, or you'll be bagholding while high on your own supercycle supply.

The short term cycle is similar to the mid term cycle, but happens within weeks. Speculators are bullish and increase leverage in the system. It is a mini momentum trade, until the funding rates on derivatives are too high and unsustainable, so people exit and sell. This is why short term volatility in the crypto market still exists, from these mini leveraging and deleveraging events driven mainly by speculators on derivatives.


Of course, all this is just my own personal framework on how I think about the crypto markets.

Some people think short term cycles are based on TA and moon cycles.

Some people do not believe in mid term cycles and believe that we will just supercycle.

Most people do not believe in the long term and view crypto as a "Get Rich and Fuck Off" scheme, so they can buy stonks and condos, lol.

Personally, I do not care what you think. After all, people with differing opinions expressing them with money bets is exactly what makes a market, does it not?

Come, bet against me. Short crypto. Man up, put up, or shut up.

But this framework helps me look at the bigger picture to navigate and make sense of what is happening. Maybe it is useful to you. Maybe you will modify it to simplify it, or add things to it that you think are relevant. So maybe it helps you? Maybe it doesn't.

I am not saying that Bitcoin and other crypto assets will not "crash" in the future. I can absolutely guarantee you that they will "crash". Does that scare you? Are you scared? Will you walk away?


If you still think crypto assets are worthless speculative lottery tickets rat poison ponzis,

all I can say is,


Have Fun Staying Poor

Friday, May 7, 2021

Your Benchmark should be the Rate of Money Printing, not the STI or S&P500

This is the M1 money supply in Singapore.

Some notes:

- Between slope 1 and slope 2, this small thing called the Great Financial Crisis happened.

- I wonder what slope 4 would look like?

- Slope 3 looks kind of steep. I wonder what happened in 2020?


M1 increased by 37% since 2020.

Oh, your investments didn't go up by at least 37% since 2020? 

Seems like you're down with a bad case of late stage NGMI.

I have the cure, but that requires you to take the red pill, which most patients refuse.

If not, the best that I can do is prescribe to you the HFSP placebo to treat the symptoms while you slowly die.

Tuesday, May 4, 2021

Humility Based Investing

Some think that the max pain scenario is for the crypto "lucky" / "arrogant" like myself to get rekt and have their networths plunge -80% after this irrational crypto bull run is over.

"To teach them a lesson in what REAL proper investing is", so to speak.

And we will realize that crypto was all just a scam.

And we will go back to buy stonks that pay out dividends,

And buy an OCR condo and play landlord to collect rent,

And then can F.I.R.E. the "proper" way.

Living the "correct" Singaporean dream.

Buy whole life insurnace.

Buy unit trusts.

No Starbucks.

Caipng only.

1M65.

Lol.


But perhaps, the max pain scenario is the opposite?


The max pain scenario is crypto grinding up,

while the crypto "lucky" continue to get scammed even deeper into being ultra rich,

while everyone one else watching is having mega a lot of fun.


The max pain scenario is meant for the no-coiners.

No max pain for crypto chads.

Only max glory.


Everyday that I continue staying invested in crypto,

Is yet another day that I'm getting scammed into being even richer than yesterday.


Ah, can you imagine the smell?

Can you taste their tears?

ITS SO SALTY AND DELICIOUS I LOVE IT.



It is funny how "arrogance" causes behavioral and emotional biases in investing.

When you realize that the market doesn't give a damn about how much money I already made from crypto,

Or how much money I will continue to make,

Or that your opinion on this matter has literally zero impact because who the fuck are you,


Then you have reached enlightenment

And perhaps,

Just perhaps,

You might be able to stop having fun.


But until then,

Have Fun Staying Poor

Sunday, May 2, 2021

WAGMI, but probably not you

*This* is the real long-term case for Crypto.

Not if you can buy your Starbucks or caipng using BTC - which by the way, is pretty fucking retarded, but if that is your counter-argument, congratulations on attaining your NGMI accreditation.

If you think about your investments based on cashflows, dividends and growth, but you don't take into account the money printing, congratulations on attaining your HFSP accreditation.

Of course, if you are in the tradfi space as a finblogger or banker bro, congratulations because you're automatically conferred the dual NGMI HFSP accreditation based on your profile!


Global warming, environment concerns? NGMI.

Funding terrorism, dirty money? HFSP.

THE GOVERNMENT WILL REGULATE IT? Immediate fast-tracked NGMI HFSP summa cum laude.


People will be jealous about not being as "lucky" as the crypto nouveau riche.

Pure cope.


But let's assume you were "lucky" enough to buy into any crypto early enough,

Weak pussy hands don't have the ability to hold on to their golden ticket.

"Sell half when it doubles, protect your capital, and let the free profits ride".

Gross poverty thoughts.


If you never had the intellectual curiosity to learn, the bravery to buy, the tenacity to hold through hell and high water, there is no imaginary fantasy parallel universes where you would then somehow magically develop the conviction to hold an asset up 2x or 10x or 100x or 250x.

But I have. 

How very "lucky" of me.


And that's why I am team WAGMI.

And that's why you are NGMI HFSP summa cum laude.

Saturday, May 1, 2021

Video Instruction on getting the NGMI HSFP accreditation

You absolutely love to see it.

If you agreed with much of this video, it's okay.

Not everyone can make it.


By the way,

People from tradfi sound *exactly* like this.

And that's why they have so much fun.

Wednesday, April 28, 2021

Make Hay while it's still PvE Season

ETH at ATHs.

DeFi summer vibes is coming again, with Aave doing exactly what Compound did last year.

Once again, there is a frenzy to yield farm on Ethereum L1 and L2 (Polygon).


The narrative of ETH is getting stronger - good checkpoint in this cycle.

More ETH L2 solutions are going live in the coming months.

If you've played 2020 Defi Summer and then BSC season, then you already know exactly how this goes.

Protocols simping for liquidity, is how it goes.


Primary Objective: SURVIVE

Don't get rugpulled.

Don't get scammed.

Be awake and alert - traversing chains and using forks may feel similar, but be aware of the differences and avoid making any silly mistakes that will brick your own funds.


Secondary Objective: Make bank

Broke lads pick a side and die ingloriously as maxis.

Woke lads recognize opportunity and profit from war.


While on different networks and L2s, always keep an eye on the exits. You never know when things go to shit and you don't want to forget your primary objective. Don't get left behind when everyone else is pulling out.


Suit up and roll out boys.

This ain't our first rodeo.

Hopefully it ain't our last either.


Tuesday, April 27, 2021

Passive Investing for Passive Returns

The funniest thing about index investing and passive investing becoming so extremely popular among retail investors is that it has completely normalized the cucked 6-8% long term annual returns of a risky investment portfolio.

If you can figure out why tradfi markets behave this way and why crypto markets do not, you're one step closer to enlightenment.

In crypto, it is one of the few areas in the world where studying publicly available free for all to access information gives you a massive investing alpha, but of course, you need to not be a lazy bitch, so that you can seize it for yourself.


The reason why massive alpha exists is simple - the majority of the current players in crypto are extremely stupid.

Like, really really fucking retarded.

For an example, see myself.

(I can swear now since I removed adsense cos fuck adsense revenue lmao I don't give a shit)


People ask me why I hustle so hard in crypto.

The truth is that I genuinely feel that it is one of the few places where time and effort correlates with returns.

The lazy people don't bother.

The stupid people don't understand.

All you have to do is not be lazy and an idiot, and it's easy pickings.


As more tradfi bois enter the space, the alpha will get eaten away. 

It definitely will. 

It's literally free money at the moment in crypto. 

All you have to do is to be present.

Talk about being at the right place at the right time.


As the alpha gets eaten away and the yields compress, with objectively smarter tradfi players coming into the space, I fear that the easy returns will slowly dwindle away.

The window of opportunity for random retail "making it" is quickly closing.

As each cycle progress, the absolute multiplier you can achieve in each cycle gets lower and lower.

And finally

One day

It becomes just another asset class that academics backtest and debate how much % of a portfolio should be allocated to it.


Have fun,

Staying por.

Sunday, April 25, 2021

Exit Liquidity Arriving

Sorry Heartland Boy for making your post the scapegoat, but this has been a trend I have noticed for the past few weeks - a lot of normies are now very aware of the recent rising prices of cryptocurrencies and many have begun "investing" in cryptocurrencies.

(pro tip: in Gemini, switch to ActiveTrader to pay 0.35% instead of 1.49% fees)


As more people from the traditional finance side of things start allocating into cryptocurrencies at historically elevated valuations,

it is yet another grim reminder that at the end of every boom cycle,

someone will be left holding the bag.


I eagerly await for more and more financial bloggers to "allocate a small % of their portfolio" into crypto.


Literally top signals.


It's funny, because they self-psyops themselves that "it's just a small %, so it is okay if it all goes to zero" and then proceed to allocate capital at historical all time highs. Savvy investing indeed. 

Herd timing allocation with a low conviction investment thesis. 

You absolutely love to see it.


I keep thinking that we see a parabolic blow off to mark the end of the cycle.

But all the normies pouring in now is making me question if we're already at peak delusion and whether I am just being too damn greedy about when to take profit.


Then again, real adoption is indistinguishable from euphoria?

Psyops.


If any prominent local finance blogger announce they are quitting their jobs or selling all their dividend stonks to fully allocate to crypto / to work for or run a crypto fund / teach crypto courses, then it will be time for me to sell all my crypto and to start shorting the markets on high leverage.


That's just the way it is, brosquitos.


The moment that they finally cave in and buy crypto, is the moment we run out of suckers this cycle to buy into these rat poison ponzis.

Thursday, April 22, 2021

"Lol I told you Crypto was a Scam"

Recently, I was watching TV.

Watching TV is actually really really rare for me, considering that crypto is a 24/7 market and we're running red hot at the moment - but I find it good to once in a while force myself away from the markets and clear my head with simple distractions. Sometimes I come back to my battlestation with a fresh perspective on old things.

But I digress.


I was watching TV, and the plot of this particular show was that the evil villain is planning to destabalize the economy by printing and releasing a lot of "counterfeit" money.

Not really "counterfeit", just actual notes that was not approved by the treasury to be printed and released into circulation.


And that got me thinking, how is this any different from governments printing money today?

For "unprecedented times" to deal with COVID?

For "emergency economic stimulus packages"?

For whatever reasons?


The answer is simple.

It isn't any different, at all.


Lol.


Do you know what is the circulating supply of your money?

Do you know how much money the treasury prints?

Do you even have any say in this matter?

How much are they supposed to print?

What if they print a lot more?

Who gets the money?

Who checks this?


You know nothing, Jon Snow.


At $500, BTC was too small and insignificant.

At $5,000, BTC was a scam and going to zero.

At $50,000 BTC was too expensive and you're waiting for a "correction" to buy it "cheap"

At $500,000 BTC, maybe you can fractionally own 0.01 BTC by proxy through your whole life insurance investment component through the master fund that has Bitcoin as a minor holding.


Tradfi no-coiner bois, I hope you HFSP.

I've been told it's the best way to have fun.

Monday, April 19, 2021

Crypto Bloodbath April 2021 Edition

 

Bitcoin *CRASHES* from $64,000 to $50,000.

Weird. Where have I seen before? 

Oh yeah, here.


Eventually though, one of these crashes will inevitably be the first real crash of the next and eventual crypto winter bear market.

Funny how the crypto markets are claimed to be manipulated, yet it somehow exhibits REAL boom and bust cycles that is expected of capitalistic markets, unlike some other manipulated markets.

The scams in this market sickens me, but that's how all bull markets look like - stupid ideas that make no sense pop up. But in proper functioning markets, these dumb ideas are culled every bear market. Funny how the traditional markets has lost its ability to do this. Well, not so much funny as it is sad.


Until we see a parabolic melt up, I think topping out for the cycle is unlikely.

Maybe it does top now and the market just rolls over and dies, but what do I know?

IMO, this rat poison ponzi is designed to go gangbusters.


I'm literally being forced to stay long and scammed into getting rich because there's no sell signals yet.

Honestly, I am so tired from making money for the past year.

So tiring to be so "lucky" to get into crypto early.


I never thought I'd say this, but I am looking forward to the nice long break I can enjoy once crypto winter arrives.

Sunday, April 18, 2021

Scams are Thriving in Crypto

If you weren't already aware, we are deep in a raging crypto bull market.

When money is flowing freely and new incoming people are greedy and looking to make quick money, it is the perfect environment that breeds scammers.


There are many "projects" coming out now that are absolute scams.

Worthless, pointless projects raising money / selling worthless tokens.

I won't hold you back from making money from stupid retail buying these trash.

Free / easy money is still money, after all.



Also, there is nothing wrong *TRADING* meme coins / shit coins.

Like DOGE, LTC, ETC, BCH, etc etc.

But if you don't understand the technology and the crypto landscape, it may not be a good idea to HODL.

I won't hold you back from making money from stupid retail trading these trash.

Free / easy money is still money, after all.


Personally, I am not invested in any scams. If I do farm scams, I stay in Pool 1 and immediately dump the scam token into the Pool 2 brainlets. Bless the Pool 2 farmers for being my exit liquidity.

I also do not trade the meme / shitcoins this cycle, because I am just focused on my holdings. I made a lot of money trading LTC, BCH, BSV, TRX, XRP in the past - there's really nothing wrong with doing it. However, my experience from last bull market was that splitting my attention to trading actually negatively affected my overall PnL since it diverted my attention from the more important bigger picture of the markets. I am focused on improving my method and to continually keep winning.



When the selling pressure from early players overwhelms the buying demand, that's when things goes to shit.

We're literally in genius season where everyone is making money on anything.

You actually need to be certified mentally retarded to lose money in this market.


What makes me sad is knowing that a lot of really stupid / naive people are going to lose a lot of money.

But I suppose, this is the exact kind of market that will brutalize the stupid / naive people.


I wish you guys all the best in playing this crypto cycle,

But I know for a fact, not everyone is going to make it.

I hope you at least, have fun.

Saturday, April 17, 2021

Thoughts about people joining in Crypto now

First off, probably you want to slow down.

If you're only interested because of recent news and seeing the recent gains, you're literally the retail speculator that everyone is waiting for to come, so that we can dump on you as you buy the top.


But say you're brainwashed into the magic scarce internet bean money meme and you think it's going to change the world,

You should probably slowly dip your toes in, rather than dive in on the deep end.


Personally, I always tell people interested in crypto to start with USD stablecoin lending. Plenty of CeFi platforms to lend your crypto.

A big big big point to know is that you must *KNOW* that the platform is actually lending it out. If not, how do they pay the interests?

A few scamming projects will promise yield and interests, but strangely, they have no borrow demand at all. Hmmm. 

If you can't even borrow from them, then who is actually borrowing from them?

Lending only, but no borrowing? 

LOL. You stupid is it?

Avoid.


Once you're familiar with CeFi stablecoin lending and understand the environment better, especially regarding addresses, transferring, block explorers, fiat on and off ramps and the general overview of the infrastructure, you can start getting a bit dirtier.

Withdraw out some funds to an actual Web3 wallet and mess around with yield farming. There's several ecosystems to do this. This is how you can get access to the higher risk premia of defi yield farming.

Why?

Because there is no customer support. 

No insurance. 

No guarantees.

You are completely solo and on your own.

You mess up and sent your money to a wrong address? BOOM. GONE FOREVER.

You mess up and call the wrong function? BOOM. GONE FOREVER.

There's so many attack vectors and possibilities for things to end badly.

So this is why the "yield" is much higher than the centralized platforms.

No guts no glory.

No brain same story.


An alternative route to defi farming is basis trading. This would suit people from tradfi with financial background, and is probably simpler to execute while still being a very high return strategy.


And if defi farming and basis trading to earn 40%+ yield is not enough for you, then I guess you can probably upgrade yourself out of the basic delta neutral strategies and actually start speculating in tokens.


However, I prefer to start people off and send them down a path of easy winning, and then they can branch out to "harder" stuff once they understand the entire space a lot more deeply and have familiarized themselves with the landscape and environment.


That said, I think because it is the bull market now, too many people are too greedy and too impatient and want to have the insane sick gainz NOW.


Speaking from experience, I think that crypto is a long term survival game, not a quick get-rich one-and-done, once-in-a-lifetime opportunity sort of deal.


If you think crypto is just a passing fad (like the previous times lmao), then all I can say is 

Have fun staying poor.

Monday, April 12, 2021

I would not touch CakeDeFi

I read KPO's post on this.

Usually I try not to comment so much on what other people are doing.

He is in their "pool 2". (the podcast link explains pool 2)

If you don't know where the yield comes from, boi, it's coming from you.

(that said, I have been in pool 2s - you just to need to know damn sure what you're doing / risking)


Me explaining to people how pool 2 works


But hey, maybe this time is different.

You never know, right?


By the way, I have a recent post about retarded magical money printing machines.

Anyway, it's a free world.


I PERSONALLY WOULD NOT TOUCH THIS WITH A 10000 FOOT POLE.


But hey, that's just me.

Perhaps I am being irrational, since I am not giving any reasons and will not be elaborating.

You live by the sword, you can die by it as well.

Good luck Cake bois.

Friday, April 9, 2021

Crypto Skeptics or Uneducated Armchair Critics?

As crypto goes higher and higher,

the salt level increases

and I see more absolutely shit takes on crypto.


It is actually really sad to see seemingly smart and financially trained people with such dogshit takes.


I talk about the "yield" in the crypto markets often.

Yet people still don't know that you can earn yield while taking on zero price risk of cryptocurrencies.

It's not hyperbole, it's a fact.

You can think Bitcoin is a scam and be completely USD denominated and based, and still make steady and predictable returns regardless of BOTH upwards or downwards price movement. (Delta neutral)

But critics never talk about this. Why?

Cos these critics don't know jack shit, that's why.


Again, this is the risk premia that the educated and adventurous are allowed to harvest.


https://cryptohayes.medium.com/all-aboard-4d50435190d6 (supplement to understand the Nakadollar fixed rate bonds)

https://open.spotify.com/episode/4G0x6TTb751RNB8Hzafi3u


If you have any sort of financial background and the above 2 pieces did not convince you, 

then I have nothing more to say other than that you're pretty much destined to

Have Fun Staying Poor.

Thursday, April 8, 2021

Magical Money Printing Crypto Trading Bot?

Automated trading bot that uses advanced AI and machine learning?

Magical secret guru taught technical analysis method and top secret indicator to make money?


Lol. 


You how old, still get tricked by stupid lies?




Whether or not Torque was actually legit and the rouge employee screwed them over, or if it was a scam all along, I do not know. But my personal opinion on this matter when people had asked me about it privately was that I thought it was definitely a scam.

The ironic thing is that some people in the space think that I am the evil bad guy tricking people to burn their money gambling into crypto ponzis, or even worse, an outright scammer.

You better read my blog properly hor. I never ask you to buy anything. 

I just say what I myself am doing and thinking, and then ask everyone to have fun.

See, I am such a cheerful and happy person, right?


What baffles me is actually how common it is for people to be naive enough to think that a group of very kind professional people have found some magical money printing trading robot, and will happily share their secret winning formula with you.

You knock your head, is it?


I can't save everyone.

But if along my way I see people that I can help, I try my best.


Pump groups are a scam.

Paid groups are a scam.

Trading bots are a scam.

Trading seminars and courses are a scam.

Magical guru developed trading systems are DEFINITELY A BIG FUCKING SCAM.

A fake "G" ever contacting you for any reason at all is a scam.

Most things in crypto are a scam.

That's why 99% of this trash gets burnt down at the end of every cycle for -99%.


If you believe that some professional looking guy with a "track record" can teach you magical ways to make money, there's something wrong with you.


This always remind me of the fish tackle story:

A man walks into a fishing shop and see all sorts of different coloured and shaped fish tackle and remarked to the shopkeeper, "WTF, do fish actually fall for these different tackles?".

And the shopkeeper replied, "Ser, the fish aren't my customers."


Good luck and stay safe.

Wednesday, April 7, 2021

Cash is Trash, Particularly SGD

I read this post by FYI on Syfe Cash+ and others.

I've also recently seen other bloggers post about the different savings accounts and fixed deposits-esque products around the local market.

It is absolutely depressing AF.


Over-collateralized crypto USD lending is between 4-11% on Compound.

Over-collateralized crypto USD lending is between 5-23% on Aave.

Non-DeFi, regulated custodial lenders are offering 10.5%, like Celsius.


There's so many more options too, from higher risk yield aggregators to yield farming, but if you cannot even grasp this absolutely rudimentary idea of overcollateralized lending, those concepts will unfortunately be outside of your IQ grade.


Imagine investing in dividend stonks, or REITs, or even worse, buying a condo to collect 2% net rent.

Actually it might be better to compare to short duration bond funds or money market funds, since possible downside risks are somewhat similar.

Doesn't really matter to be honest, tradfi people simply cannot grasp how absolutely skewed the risk/rewards are. Lower returns is the price of being risk-adverse and uneducated.


B-b-b-b-but foreign exchange risks!

So confusing and complicated!

Custodial risks!

Crypto risks!


Okay.


Have fun staying poor.


I'm just saying that alternatives exist.


Your choice if you want to stay uneducated, or be....


Well, I would say "woke", but I recently found out that a certain salaryman that I had considered to be very woke is actually not very woke at all.

Tuesday, April 6, 2021

Operation Pasta Preparation

If you're a crypto native, you probably know what that title means.
It is our shared culture, history and hence, our secret code.

I have no idea how this market ends, but one thing is for sure - it cannot go up forever.

A few people have fallen for the "Supercycle" Meme.


But, consider this:

Even if fiat is in decline and eventually becomes worthless, does it happen overnight?

There are plenty of normies and institutions that lag that will cushion the hyperinflation and death of fiat, if it ever comes to that. Plus we as crypto-natives are not only more sensitive to such changes in the wind, but we are also more flexible in both mind and process to shift back our allocation to be heavy crypto if the world is indeed falling apart.

Eventually, the crypto markets will hit its maxima interest of this cycle. I am already seeing complete crypto skeptics throwing in the towel after years of calling it a scam targeted at the low-IQ, to finally dip their low-IQ toes in themselves to see what it is all about.

What happens after the last of these get convinced?

Who are the marginal buyers left in this market?
How much money do they still have left?
Who's the last sucker that will buy the top and hold bags down?

These are questions I ask myself all the time. I do not have the answer.

I don't want to be bearish because I am honestly and truly an omega crypto bull at heart - I have been in this space for years and I live breathe and use all these cryptocurrencies and the dapps on a daily basis. They have plenty of utility to me.

But the marginal buyer is not entering this space to access decentralized finance and claim back sovereignty over their finances.

The marginal buyer read about some spastic blogger living in Singapore who made 8 digits from digital internet ponzis and would also like to get rich quick. 

My current thinking is pretty much still the same as what I wrote in mid Dec 2020, the only difference is that the market has both matured in price and cycle progression. I am up multiples (plural) since the date of that post.

Imagine coming in now, at the all time highs of price and interest, playing against idiots like me who got literally scammed and forced into having 8 digit wealth and are sitting on 4 digits % returns on cost because we bought in more than 10x cheaper than the current prices.

I do not know how this market will play out.

Of course, I hope that it continues to scam up higher. Scam me into multi-generational wealth and into several reasonably sized houses - I will be okay with that.

However, as much as I want to believe in the supercycle meme, my opinion is that it definitely does not apply to many altcoins and it is unlikely for the fiat-crypto chasm to be crossed to quickly by everyone, especially for retail.

The plan for coiners to take profit is always the same:
- simply hodl til the day you need to / want to realize your probably massive returns
- take a bigger risk and hope that you can locate the top to dump, so that you can buy back more lower

I don't particularly think either way is better, it just depends on your own confidence of your personal abilities to do what is best for your long term portfolio (assuming you believe owning more coins is the main goal in the long run)


Perhaps I am being too cautious too soon and too early, but for early coiners (superior subspecies of humans that bought BTC before $20k), you're likely sitting in deep and healthy profits. Use these to level up your life and don't lose it all back to the markets.

Don't get me wrong though - this is not me saying that the market has topped.

But rather, this is just a reminder that some day, some how, you, a coiner, will need to sell (some) coins.

I hope you have an exit strategy to play.

Personally, I have already outlined my strategy since December and it is still the same. I will slowly start selling once we go parabolic, but I have also set aside a permanent stash of crypto that I will never sell.

Me selling only some coins along the upwards parabolic move is my bet that I am able to time the market so that I can buy back even more coins at a lower price later. Is it a risk? Of course, nothing is certain.

This strategy is okay for me because I spent the last few years hoarding a metric f*ck ton of coins with the express purpose of selling it fairly to suckers that are happily overpaying for things that they do not understand.

Also keep in mind that I have already cashed out millions - so do I actually need more fiat, especially SGD? What am I going to do with more SGD? (Btw, I have been progressively booking profits because I am not a fan of pasta)

Buy "condo and rent out for investment"?
Buy "SGX stonks and collect dividends"?
Top up CPF for 1M65?

LOL.

Exactly my point. 

There's little reason to cash out to SGD if you have nothing good to spend it on. I might as well keep them in my digital rat poison ponzis if the only other options are condos and stonks.

If you actually thought that condos and stonks are a good diversifier, you might have a bad case of the tradfi banker finance boi thinking - that crypto is a one-and-done, get-rich-quick, then take all those profits and put it back into the old school nonsense, HFSP sort of thinking.

Don't think so much about no-coiners, unless you want to join them in having fun staying poor. Who cares about them? Their opinion means nothing in the world of crypto and coins. They have an opinion? Cute, but worthless. Unless they plan to short the markets, they have no power in our realm.

But anyway, I digress. That was tangential to my point and was just me trolling the tradfi HFSP bois.

I wish all my fellow coiners all the best.

My advice is focus on the things that matter to us, here and now. 

Do not to be too greedy and do not think about how much more you want to make - but instead be realistic and simply question how much higher the market can go, when and why.

The enemy of coiners at this point will be our personal greed and inability to accept reality because of self psyops of believing in the supercycle.

I wish you all the best. 

Even the HFSP guys - you can watch how this cycle plays out, again. Maybe you will join the next one. Or the next next one. It is never too late to buy my bags at higher prices. Maybe I can sell you my coins next time for 1000x my cost instead of 100x.

Monday, April 5, 2021

How To Be Rich


Also, no Starbucks

Caipng only.


Trolling aside and honestly speaking, I have come to realize that cutting expenses is the last thing people should be focused on, unless they are frivolous people to begin with. It makes much much more sense to focus on increasing returns through skills and productivity, than to penny pinch.

If I had to give advice to my younger self, it would be to take a step back and thing about solving your problems in a smart way, rather than just diving in head first and getting your hands dirty doing things in the most wasteful and silly way - merely because that is what everyone else says and does.

Everyone wants to be spoon fed the "right way".
Everyone is risk-adverse to a fault, in my opinion. 

You think you can live life without taking any risks and still have lots of upside?
You want to be extraordinary, but you do the exact same thing that everyone else does?

It must be nice, being delusional.


Also as a side-note, for the crypto players, please remember to bank profits along the way. If you f*ck it up this time - again - I don't know what else to say.

Thursday, April 1, 2021

BlackRock bought BTC Futures

BlackRock held $6.1m of BTC futures as per their filing.

Amazing.

So many people falling for this ponzi scam.

Next thing you know, banks will finally offer it to the peasantry after it is over $100,000 USD per coin.

Investment funds will announce how they've owned it for months.

New ETFs and unit trusts will pop up that allow them to buy it.

Pension and Sovereign Wealth Funds infinite bid.

Maybe even... CPF-IS allowed limits to owning some?

Lol.


All for a non-cash flow generating ponzi scheme! 

Very strange.

Very strange indeed.

If I was them, I would buy SGX listed stonks so all sinkies can huat together.

Yes, I am very patriotic.

Anyway, Have fun staying poor!

Sunday, March 28, 2021

Soros Asset Management CIO on Bitcoin

 


But Bitcoin still probably a scam though.

Btw, I heard topping-up CPF is a good long term strategy.

Have fun

Friday, March 26, 2021

HFSP Mandate

Governments are looking to buy Bitcoin, NYDIG CEO confirms


Maybe full of shit.

Maybe legit.

Who knows?

Our gahmen will never say, for "national security" reasons.


Not trying to cause you to FOMO.

Just saying that if I didn't have any crypto, I'd be concerned.

Luckily I have lots of all these worthless digital rat poison ponzi coins.


Gahmens may or may not be buying Bitcoin.

Billionaires are buying Bitcoin.

Companies are adding Bitcoin to their treasuries.

Institutions are recognizing it as an asset class.

Tesla is accepting Bitcoin as payment for their cars.


Yet, DBS "Digital" exchange is only for $5M+ clients.

The crypto purchasing limit through Xfers is $30,000 annually for us regular peasants. 

That's not even 1 Bitcoin.

Actually, it's not even half a Bitcoin anymore either.


Perhaps it's government mandated policy that everyone except the existing ultra-wealthy should 

Have Fun Staying Poor.

Tuesday, March 23, 2021

Have Fun Being CPF Rich



Personally, I prefer having liquid crypto (stable)coins earning decent to even obscenely high yield, which can never be seized by any government or entity, in my complete control, that could be quickly converted to cash in my bank, unlocked and available for me to spend or move with no restrictions on transaction limit or time of the day.

But hey, that's just me.

You do you.

It's a free world.

It's not wrong to choose poverty over wealth. 

Everyone has their own preferences.

No right, no wrong.

In the end, it's just money.

I hope you're having fun being CPF rich.

Personally, I have fun staying poor.

Friday, March 19, 2021

Bank-mandated Have Fun Staying Poor Policy

 


https://www.dbs.com.sg/private-banking/default.page


Weird how buying digital rat poison is a premium product reserved only to scam those with the most wealth.


Also weird how billionaires are buying it. Must be part of an elaborate ruse to scam the plebians.


Luckily the kind and noble banks prevent the stupid and poor peasantry from toying with such scams.


As they say,


The rich get richer.


Have fun.

Thursday, March 18, 2021

Rich from Crypto, or Rekt by Crypto?

Crypto is getting hyped these days.


Why wouldn't it be? The crypto industry is printing out new millionaires daily.


Everyone is getting hilariously rich and you are not. At least you're having fun, right?



But as always, when new fresh dumb money starts coming in, that's the signal that the party might be ending.


If you are here to make quick money, best be sure you're not just here to be my exit liquidity.


In the long run, crypto will likely be one of the most impactful technological advances of our society.


In the short run, riches will be made and lost.


Most will not make it.


Good luck.


Don't say I didn't warn you.


Okay, I will go back to shitposting and making fun of nocoiners after this. HFSP.

Tuesday, March 2, 2021

$100,000 a month passive income - enough to F.I.R.E or overkill?

(it's in USD)

APPARENTLY, this is some nonsense called AAVE-ETH BPT 80/20 SM STAKING.

To be honest, I don't really understand all this criptoe current seas blockchain mumbo jumbo.

So this looks fake to me.

Possibly photoshopped.

Or maybe a scam.


There's no way this is real money.

No way, simply not possible.

It has to be just another one of the thousands of fake worthless internet money.


Buy SGX dividend stonks huat together.

No Starbucks.

Cai Png only.


That's the only true, tried and tested, real way to FIRE.

Don't let anyone else tell you otherwise.

Friday, February 26, 2021

Crypto Bloodbath 2021 Edition

 

Bitcoin *CRASHES* from $58,500 to $45,000.


Are you worried about my ponzi crypt coins?

Even if BTC crashes down -85% like the previous max drawdown, it's still going to be higher than my cost. 


Considering that the bulk of "early" participants from pre-Nov 2020 entered at between $4,000-$12,000, I think most crypto holders would be fairly comfortable with their positions.


Oh, I also recently heard GIC was a lead investor in a crypto fund?

Weird that they are investing in valueless digital ponzis used by criminals and terrorists.

What are they thinking? Disgusting and immoral.


They should just buy more SGX stonks so that all the sinkies can huat together.

Good idea right?

G for Minister of Finance.

Monday, February 22, 2021

Too Smart to Buy Bitcoin, Too Dumb to Sell Bitcoin

It's a simple fact that the Yuppie class (middle-class, city-dwelling, well-educated with well paying jobs) will be the last to board the cryptocurrency train. Incidentally, most financial bloggers fall into this category. 

They will FOMO buy the exact picotop by the absolute cent, to which the entire market will nod at each other silently, and start dumping in unison. These yuppie buyers will proceed to hold rekt bags of ponzi coins while cursing at it as they come crashing down - as they always do, at the end of every cycle. 

And then when they are drowning in maximum despair and depression,
They will throw in the towel and sell them all back to me.
At the exact picobottom.
By the absolute cent.

And then we get our next bull cycle.

Always remember to 

Have Fun Staying Poor





For further reading:

https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitcoin 
(written in Aug 2020, when the price of Bitcoin was $11,500)

Tuesday, February 16, 2021

FIRE with Digital Coin Ponzis

Broke: Paying expenses from interest from SGD savings accounts / FD / CPF / dividends / coupons

Woke: Paying expenses from interest from crypto USD stablecoin lending / liquidity provision

Bespoke: Paying expenses from interest from crypto lending / liquidity provision / cash flows


Wait a minute. 

Crypto generates interest? 

Profits? Rights to cash flows?


An interesting point to note is that someone's public ENS alone is generating ~$100,000 SGD a month from staking interests and rights to fees.


But naw, couldn't be. 

That sounds like a scam.


Stay safe, and remember to

Have Fun Staying Poor

Monday, February 15, 2021

Proof that Bitcoin is going to $0 this year

Bitcoin Yearly Lows (in USD$)

2011 - $0.29

2012 - $3.80

2013 - $12.77

2014 - $275.00

2015 - $152.40

2016 - $350.92

2017 - $751.34

2018 - $3,128.89

2019 - $3,322.19

2020 - $4,000.00

2021 - ????????? but according to some people who have never owned any, probably $0


I hope everyone plays things safe and absolutely do *not* buy into this investing fad.

These "coins" are all unregulated and have no intrinsic value. No cash flows!

The gahmen will never allow any of these "coins" to have any real value.

Imagine having any amount of money in these "lottery tickets"? Better off buying Toto.

Have fun investing in SGX stocks!


If you really stop and think about it, Bitcoin looks like a pretty shit long term investment.

When the inevitable crash comes and prices goes down to like $10,000 a coin, I guess I'll just 

have fun staying poor. 

Tuesday, February 9, 2021

You Will Never Buy Bitcoin

The year is 2021.

You pick up your smartphone,

and read online news.


"Tesla buys $1.5b of Bitcoin."

Wow, Elon got scammed to buy Bitcoin? 

What does the ex-CEO and former largest single shareholder of PayPal know about digital money?

What does the world's richest man know about money?


Apparently not much.

Definitely not more than you,

since you know that Bitcoin is a scam.


You look up the price of Bitcoin.

1 Bitcoin is $60,000 SGD? Joke.

It is very funny to you,

since you know that it is *actually* worthless.


Arrogant crypto boys that got lucky are everywhere spamming,

"Have Fun Staying Poor"

Very Funny. Not.


When Bitcoin later crashes down to...

maybe... $10,000? 

You will have the last laugh.


You think about your diversified portfolio in low-cost ETFs, high-conviction stock picks.

You think about your multiple insurance savings plans and whole-life insurance.

You think about your CPF retirement money.


You smile at your framed picture of Warden Bufflet.

You smile to yourself.

You relax.


No Starbucks.

Cai Png only.

1M65.


Life is good.

Elon / Tesla buys $1.5 billion worth of digital scam ponzi coins

Wow, the world's richest man buying Bitcoin?

Against all the good-intentioned warnings and caution from retail investors and Warden Bufflet?

Elon must not understand how money works.

Strange - for someone that has so much of it.

Have fun staying poor.

Monday, February 8, 2021

Cryptocurrencies are a scam

8 digits at the public ENS. Probably fake though.

Also, cryptocurrencies are a scam.

Probably best not to own any.

Have fun staying poor.

Friday, January 8, 2021

1 Bitcoin is $40,000 USD

Probably a correction soon, maybe.

But I think we still go higher.

Have fun staying poor.

Sunday, January 3, 2021

1 Bitcoin is $34,000 USD

 As I write this, Bitcoin has just passed $34,000.

Probably a correction soon, maybe.

But the path is still up to me.

Have fun staying poor.