Category: Got Money Got Honey

Havven, my newest favourite project

Aites guys, here it is, my declaration of love.Havven is currently the project that I am most excited about in the crypto space right now.There are A LOT A LOT A LOTTTTT of critics of stablecoins, but meh. I’ve read their opinions and views. I don’t ag…

China’s Ministry of Bagholding Publishes Offical Shill List

China’s Ministry of Industry and Information Technology.

It sounds fake, ikr, lol.

But whatever, that’s the news I came across. I’m just sharing it. My Chinese sucks, so you guys can go check the original sources for yourselves. (Source 1, 2, 3)

I mean, it’s published out on the SCMP, so it seems legit, haha.

This is probably the best 3rd party summary of the news though.

4/ Detailed scores of the first crypto ratings by CCID Research, China’s Ministry of Industry & Information Technology pic.twitter.com/7LiJIWokge

— cnLedger [Not giving away ETH] (@cnLedger) May 17, 2018

Long story short? Buy Ethereum, lol.

Anyway, I just found it interesting how so many governments and corporations are looking positively into cryptos. It seems that the places with intelligent people are no longer refusing to acknowledge it or calling them outright scams.

Good for the long run I suppose.

Laura Shin x Mike Novogratz Podcast

 Great podcast for anyone interested in crypto.Mike Novo gives a pretty toned down and less extreme view on the future of crypto and how things can play out with relation to the status quo now.IMO, the best stablecoin has already been conceptualiz…

Embracing Blockchain or Crypto? Confused?

Yesterday’s post didn’t give you a hard-on? (You ought to read that first). Maybe today’s will.

“J’etais néophyte il y a un an, mais à present, je me suis pris de passion. Mais cela m’a pris un an. Faisons preuve de bcp de pédagogie avec nos concitoyens pour faire de la France la première place d’innovation Blockchain/cryptos en UE” @BrunoLeMaire ce matin. Il se passe qch!

— Alex Stachtchenko (@StachAlex) May 15, 2018

WTF am I looking at again GMGH?

You’re looking at the French Finance Minister admit that he was skeptical about crypto a year about, but after understanding it, he’s hot for it and wants to make France crypto friendly. Ain’t that interesting?

Over in Russia, Sberbank just did their first blockchain based commercial bond transaction – something that Singapore’s Project Ubin is trying to do in their Phase 3.

The infamous JP Morgan whose Jamie Dimon has shat on crypto publicly, now has a platform that uses blockchain technology for securities transactions.

Our dear friends in Europe who have recently gone crypto crazy, Malta is implementing blockchain technology to improve its public transport system.

So that’s the good news so far.

What’s the bad news?

Blockchain is NOT cryptocurrency.

What’s the difference? I made a post about the terminologies here. You should read it.

Governments and companies and banks embracing BLOCKCHAIN technology are understanding the importance of data integrity and making them tamperproof.

However, these improved DATABASES are still vulnerable because they are not distributed.

Hence, the other “corporate-fied” term, which is distributed ledger technology (DLT) – having multiple databases so you don’t get screwed by any single database mulfunctioning.

To be honest, it’s not a bad thing for blockchain technology to be embraced. A lot of documentation and digital trails can and should be secured using blockchain technology. But by no means does this mean that the price of Bitcoin or other cryptos will go up.

Eventually though, some people, corporations and perhaps even governments will see and understand the importantance of not only blockchain technology (immutable, tamper-proof data), distributed ledger technology (which has redundancy and resistance to single point of failure), but that it is also public (free from top down manipulation and accessible to all).

Until that happens, don’t get too excited when you hear governments and companies embracing blockchain technology.

I purposely did this post back to back with yesterday’s post so that you can compare and contrast the different news.

On the surface, both seems bullish for crypto, doesn’t it?

After my post today, maybe you’d understand why only yesterday’s news is bullish, and today’s news is just sort of interesting.

Welcome, Institutional Bagholders

GMGH, wtf am I looking at?You’re looking at the official statement by Nomura Bank in Japan to have a crypto custody solution for institutional investors.Which comes after Coinbase announcing their own suite of institutional products.Which comes after t…

Follow Up on Argentina’s 100 Year Bonds

Remember when Argentina sold $2.75b of 100 year bonds?I do.Because I wrote about how stupid of an investment that would be.If we aren’t at the cusp of madness yet, I am more than willing to be entertained to see what will top this insanity.You don’t ne…

I might have figured out why Buffet hates Bitcoin

Title: The Banks = The Rats
Medium: Rat poison and acrylic on foam core
Location: Berkshire Hathaway NYC office#cryptoart #bitcoinart pic.twitter.com/ZyMOG4HedY

— cryptograffiti (@cryptograffiti) May 13, 2018

If you follow the QR code by this brilliant artist, it does NOT lead you to a donation address.

It leads you to this image:

Which shows you that BRK is owning $66.3 billion worth of bank stocks.

I wonder why Buffet hates Bitcoin?

Damn, I just can’t figure out. The reason just escapes me.

For someone like me with subpar IQ and a degen mindset, it’s probably beyond me the genius thinking that goes on in the mind of a legend like Buffet.

Oh, by the way, did you know you can transfer Bitcoin to anyone, anywhere in the world, anytime, pseudo-anonymously with no need for a bank account, verification, permission or approval?

For an average transaction, it costs $0.60 if you need it sent within 10 minutes.
It costs $0.03 if you don’t mind that it takes a day.

This fella sent $16,000,000 USD worth of BTC just today.
It took 1 minute and 14 seconds and it costed him $2.95 USD of transaction fees.
Yes, his transaction fee charge was 0.0000184%.
He paid $0.18 for every $1,000,000 that he transferred.

Wait, what’s the point of these statistics again?

I forgot.

Man, I just can figure out why Buffet doesn’t like Bitcoin. You think he has some kind of agenda? It’s almost as if the very premise of Bitcoin itself undermines banks in multitudes of ways, and that would be negative for his investments.

By golly, do you think that’s the reason?

No, it can’t be. Good ol’ uncle Warren is so nice, he wouldn’t be devious just to make money!

Buffet, Munger and Gates all Hate Bitcoin

Buffet on Bitcoin, “probably rat poison squared.”Munger on Bitcoin, “Disgusting” “Stupid” “Immoral” “Turds”.Gates on Bitcoin, “Pure greater fool theory type of investment” and “would short it”.Warren worshipers, now is the best time to show them how mu…