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!

15 comments:

  1. Hi GMGH, have you bought the recent dip or you are waiting out for more weakeness? Hope to hear your thoughts.

    ReplyDelete
    Replies
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  2. I too have some some 50%,, now can wait to buy back for round two..

    ReplyDelete
  3. I was only able to cash out 10% following the BTC.D plan. However if this is the beginning of the bear market, I am looking forward to your returning to Twitter shitposting again!

    ReplyDelete
  4. Very nice, acting tough, you forgot another scenario where your magic internet money goes to zero when US bans crypto too

    ReplyDelete
    Replies
    1. Broke: Governments will ban crypto
      Woke: Governments can't ban crypto
      Bespoke: Crypto will ban governments

      Delete
    2. Have fun staying poor. you sound tilted tradfi fag.

      Delete
  5. Hahaha love your title! so cheeky!!!! :D Worst case scenario: HFSP with the no-coiners and wait out the next 4 years!!!!

    ReplyDelete
  6. Actually i wish the worse scenario will happen for the next 4 years. at least that will give "woke" folks like us to accumulate and buy into crypto position in wait for the next cycle. I am definitely having fun, and i don't mind eating dust for the winter in return for the eternal glory that awaits.

    ReplyDelete
  7. Any tips on when and how to take profits? I find it tough to sell when prices are going higher and higher.

    ReplyDelete
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  9. Any tips on when and how to take profits?
    sttn price

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