Category: Got Money Got Honey

No Position is Forever (Crypto Case Study)

Recap: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 fores…

Crypto DCA Portfolio – Update #1

DCA Portfolio – The BeginningICYMI, 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 an…

Facebook launches its own Cryptocurrency

Here it is:https://libra.org/en-US/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…

Crypto DCA Portfolio

Hey guys,With Binance SG finally live to purchase BTC, ETH and BNB with SGD, I thought that it’s a good time for me to make a small portfolio to show you “normies” that this is all you need to capture most of the value in the crypto space.I’ll be doing…

Don’t you just love Negative Rates?

Yield curves all around the globe are inverted right now. pic.twitter.com/enhlzLQzG6

— Michael A. Gayed, CFA (@leadlagreport) May 25, 2019

What is an Inverted Yield Curve?

Historically, inversions of the yield curve have preceded many of the U.S. recessions. Due to this historical correlation, the yield curve is often seen as an accurate forecast of the turning points of the business cycle.

When you lend money to the government for 30 years, you get back negative returns.

Just let that sink into your brain for a bit.

But don’t mind me, I’m just a cuckoo crypto person.

Crypto HIGH YIELD USD Savings Accounts?

I’ll be quick, so less story and talk cock from me.In crypto, there are things called “Stablecoins”.They are called stablecoins because, obviously, they are SUPPOSED to be stable to that thing that they are tracking.Why they exist. How they exist. Out …

Crypto: Educated Criticism or Professional Larper?

If you don’t understand how fiat money works, you’re not qualified to judge whether cryptocurrency will be successful or not, period.

And that’s the gist of this article, which I fully agree.

People that I’ve talked to that has pushed back hard against crypto will usually give the same arguments that people were already talking about in 2012.

“Something so volatile cannot be money.”

“People will not use it.”

“Governments will not allow it.”

Tell this to anyone who is deeply involved in crypto right now, they’d probably snort.

Most people cannot understand the concept of money, and worse, confuse and think that FIAT money is the definition of money.

The reason why most people are not convinced by cryptocurrency is simply because they are either accidentally or willfully ignorant about fiat money.

You’re telling me that they are actually people that exist who understand fractional reserve banking, debt, what is fiat money and government money printing, BUT yet they don’t see the value of Bitcoin / cryptocurrencies?

LOL.

I call bull – f***ing – shit.

People simply do not understand fiat currencies. Most people have never seen a chart on their own local currency fiat money supply.

I wanted to show the M3 of various countries, but honestly, who gives a shit about facts these days, amirite? As if me showing you blatant, unchecked money printing is going to change your mind. You’d probably think that it’s good, since it supports asset prices, heh.

Anyway, the reason for me to write today’s blog post is to try to convince anyone with an open mind about the future of cryptocurrencies.

The article is an excellent one and honestly, just give it a read.

Here is my favourite excerpt:

Understand that the success of the system is contingent on an unwavering belief that throughout history innovation has always disrupted what currently exists.
 If a system is better, exponentially so, then nothing will ever be able to stand in the way of progress. For the same reason, Google destroyed Yahoo, and Facebook vanquished MySpace, Bitcoin and Ethereum will destroy money.
 In the same way Amazon has brutalized physical retail, Cryptocurrency will eradicate banks. If you don’t see this coming you aren’t paying attention.

And with that, my shill is over. This post was initially 3x longer, but I trimmed it down substantially so that things are delivered in a short, sweet, package.

All the best out there people. I’ll be watching you plebs from the Citadel.