Monday, June 24, 2019

No Position is Forever (Crypto Case Study)


I bought tons of DGD since mid 2017.

I sold a lot in Apr 2018.

I exited the rest of my position in Sep 2018.

I warned everyone in Feb 2019.

As of now, I am 99.99% certain that DGD will fail to achieve anything.

It is extremely likely that in the foreseeable future, they will either:

1) pivot to do something else with all the DAO funds
2) re-distribute back all the DAO funds

While some people are extremely doubtful that they will ever distribute the funds back to DGD holders, I had a recent epiphany.

Why not just pretend that the DAO funds will likely never ever be returned, while fundamentally destroying the project at the same time?

This will cause price to tank (yes, even more, lol) and the cartel can just place low-ball bids and absorb the rest of the supply.

Once they have taken over plenty of extremely cheap "shares" relative to NAV (now they are under 50% of NAV, I can imagine them buying out the entire exchange supply at 10-25% of NAV), they will then have a "governance" vote and approve the closure of the DAO and the disbursements of the ETH to token holders.

This way, things are done "cleanly", since people willingly sold their tokens on the market.

Perhaps me writing out this playbook will actually prevent the cartel from engaging in this strategy. But you know what? With literally millions of dollars worth of ETH locked up in the DAO, greed will drive them to do this strategy. It just makes sense.

Let's see how if the screwed up and evil scheming mind of GMGH actually turns out to be the exact playbook that happens.

By the way, BTC is over $10,000 USD and ETH is over $300.

That is all. Have a nice day.

Wednesday, June 19, 2019

Q&A on Libra aka Facebook Coin / FaceBucks / ZuckerBucks

Dear all,

Since many of you are wildly ignorant (some willfully, some unintentionally) about crypto, I'll do a Q&A in the comments section for any SERIOUS questions that you might have.

I say "serious" because I know half of you dicks that just want to troll the "crazy crypto blogger".

That said, I'm willing to answer simple questions, or re-direct you to a better answer.

Libra Website
Libra Whitepaper

Top questions:

Q1. Should I buy Libra?
A1: I do not give financial advice.
My private buy/sell signal group is open for 1 BTC / month, no refunds. email for details. kek.
(This is an IQ test by the way. If you send me BTC, I'm keeping it, for real)

Q2: Does this mean Bitcoin is dead?
A2: No.

Q3: Does this mean Ethereum is dead?
A3: No.

Q4: Does this mean (insert other crypto coin) is dead?
A4: Very likely.

Q5: Is Libra a threat to fiat currencies? (SGD, USD, EUR, etc)
A5: Extremely high threat.

Q6: Will Libra be banned?
Q6: In some countries, it probably will be.

Q6a: Will BTC/ETH be banned?
Q6a: You can ban it, but you cannot enforce such a ban on BTC and ETH.

Q7: Can Libra censor transactions?
Q7. Yes.

Q7a: Can BTC/ETH censor transactions?
Q7a. No.

Q8: What are your thoughts on Zuckerbucks?
A8: All you sheep are gonna get woke real fast about government fiat currencies, and that is going to be a EXTREMELY positive for neutral, decentralized, open, un-censorable cryptocurrencies like BTC and ETH. You don't know it yet, but you WILL be buying crypto once you become educated.

I welcome all new crypto converts to living the enlightened life.

When the financial section in newspapers and websites, and other bloggers start talking about FaceBucks and eventually move on to talk about cryptocurrency, remember who was the one that was always around.

Please ask away if you have any questions.

Tuesday, June 18, 2019

Crypto DCA Portfolio - Update #1

DCA Portfolio - The Beginning

ICYMI, I'm doing a DCA with a 40/40/20 split into BTC/ETH/BNB.

So, quick update.

Started on 31st May. Bought another 2 times over the following 2 weeks.

Today is 19 days later, and I'm up 11.6%.

That's 0.61% returns a day.
Or annualized it's 822%.

Seems about right for crypto, LOL.

Friendly reminder that my referral link is here and you'll get $10 when you complete the KYC and make your 1st $100 purchase.

Good news is that Binance SG has dropped fees from 0.8% to 0.6%. This is ridiculously low. It's insane.

Even though I'm on the Gemini Active Trader Programme (0.35%), it's still cheaper for me to use Binance SG because you need to include the FX and remittance fees when considering Gemini.

PSA: Crypto is dangerous AF if you're stupid, so probably best not to dabble in this if you're stupid.

Facebook launches its own Cryptocurrency

Here it is:

Anyway, if by now you still think crypto is a ponzi / scam, there's really nothing more that I can say.

If you also think that somehow FaceBucks competes with Bitcoin or Ethereum, then clearly you don't understand much about the latter.

Happily stacking my "real" crypto and earning low-risk 7%+ returns on my crypto-USD that is living in the crypto world.

You know, I honestly still think that it's early for crypto. And as everybody knows, the first rule of FOMO is that if you want to FOMO, you should always FOMO early.

PSA: Crypto is dangerous af. If you don't understand what you're doing, I would suggest that you stick to the ZuckerBucks.

Saturday, June 15, 2019