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.