Author: Got Money, Got Honey!

When the Obvious is not really that Obvious

I was just browsing the interwebs lately and I stumbled upon this interesting quote: Talent is hitting a target that no one else can hit. Genius is hitting a target that no one else can see. Now, that got me thinking. I have quite a lot of smart friends. In fact, I feel that compared to some of them, they are operating on a whole different level of intelligence and brain processing speed. Like seriously. I could understand each individual action. I could also understand how the sequence of each action relates to the other actions. However, what I...

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Why do I not invest with robo-advisors

By the way, I was inspired by this post from Finance Smiths. Wow, shocking title, isn’t it? From the same shill that peddled why robos are so awesome? What has changed? Why the sell out? Let me assure you, it has nothing to do with robos themselves per se. I have been watching both Smartly and StashAway come to market (StashAway is doing a way better job at marketing and acquisition imo). I think both of them look great and it is definitely a step-up from the shitty offers that traditional financial institutes offer. And I still stand by my...

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$7,600,000 Crypto Scammed

I was out tonight when I read that the CoinDash ICO got hijacked and scammers managed to switch the real address with their fake address. The result? $7.6m scammed over 3 hours. Well done. Very well done, I must say. Instead of launching scam coins and sham ICOs, I think a lot of scammers and hackers have realized that it is just more profitable to outright scam people. Why come up with a huge elaborate ICO scam idea when simple scams work out so well? Creating fake twitter accounts and slack accounts with admin-sounding names are all free too....

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Weekend Crypto Bloodbath Aftermath

Bitcoin went down 20% just this weekend. Ethereum went down 35% during the same time too. I hope you managed to bunker down and dodge the massive shit storm in the crypto markets that happened over the weekend.  Well, you really can’t say that I didn’t warn you, right? I mean, I even had a full length blog post with Hyuna bouncing around singing “Bubble Pop”. If that wasn’t enough, frankly, nothing would be.  aiguuu, y u no listen to oppa GMGH~? Bitcoin went down a whooping 40% from its high. Ethereum, the new kid on the block, went...

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Things you REALLY need to know before buying Cryptocurrencies

This post is inspired by the IG-sponsored post on D&S. 1. You own the underlying asset when you trade When you buy cryptocurrencies, once the coins are in a wallet which you have the private key to, you are the owner of the coins. 2. There is no counterparty Unless you are leaving your coins within a centralized exchange to make trades, all the coins that you can access with your private key are yours and you don’t have any counterparty. You directly interact with the blockchain to send your coins, or receive more coins directly to your ownership...

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Crypto Bubble Pop

Presenting to you… Bubble Pop! (pro tip: pause at 0.27) Wow, I’m impressed. It took the market this long to realize that it was in a bubble. But hey, it might obvious to you and to me, but look at all the people still in the S&P500, amirite? Hur hur. As history as my evidence, on 13th June 2017, I did call out the ridiculous bubbly nature of the crypto market. Anyway, I’m fairly certain that this is indeed mania. Will ETH be $380 still next week? I seriously don’t know about that…. Drop back to $10 and let...

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PayNow is Released

PSA for all. PayNow has been released as of today. ST piece is over here. DBS landing page for it is over here. Took me 3 minutes to register my phone number. The other banks have their own pages too, but I like to use DBS to receive money because most of my friends have a DBS account and are familiar with it. What is it? A system to link a bank account to a phone number or NRIC Why have it? To simplify the process of sending money around Why use it? You can designate internally which bank...

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Why NOT Government-backed Cryptos

While many people are just waiting for the day that a government will back a crypto (I’m talking tokenization of a sovereign currency, not legalization as a form of payment), legitimize it and make it mainstream before they jump in on the crypto hype, I am personally not too thrilled with that idea (not thrilled with the idea of a government-backed crypto, but still thrilled about cryptos gaining mainstream traction). In fact, this can already be EASILY be done, similar to the fashion that Tether is able to issue USDT which are supposed to be valued 1:1 with actual...

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GMGH Crypto Thoughts Jul 17

I’m sure you guys are probably not aware, but I’ve been really busy lately in the crypto world. It is tough for me to write a blog post about cryptos on this at length, especially since I am sure that 90% of readers will have no technical familiarity with the terms, but I’ll try to keep that in mind while I write. I am completely confident that blockchain technology is here to stay. The current form that it may be in now might be not be much, but how many technology launches perfectly in it’s first iteration? The first...

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[SGX Portfolio] Sayonara Croesus Retail Trust and thanks for 75.5% Gains

Wa, how come I totally missed this big news? I only realized when I saw my portfolio value go boomz and read the post by AK. Quick summary: – Offer for CRT at $1.17 – CRT holders will also get approx $0.0406 dividends – Offer price is 23% over NAV – Yield drops to 6.8% If you want the info, you can read yourself. The long one, the short one and the one with pictures. You know me, my brain small small so I read the picture picture one. So, what do I think? I guess I’m in favour...

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Creating Unemployment 101: Seattle Minimum Wage Case Study

While most people think that ZeroHedge is trash news, they did report on this rather factually. The University of Washington (located in Seattle, FYI) has been doing a study on minimum wage. They published their findings for Seattle this month, which you can read in detail if you are so inclined, or don’t believe me. Facts: – Minimum wage per hour was increased from $9.47 to $11 in 2015 – Minimum wage per hour was increased from $11 to $13 in 2016 After the $13 wage: – Reduction of low wage jobs by 6.8% – Those who retained their...

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[SGX Portfolio] Goodbye CDLHT!

B’s recent post on CDL reminded me that I have CDL H Trust in my portfolio! I bought CDLHT back in Dec 2015, when it was trading at $1.28 against it’s book value of $1.593. It was at a discount to NAV of a whooping 20%, along with spitting out dividends of 7.2%. If memory serves me well, back then the sentiment for all hospitality REITs were that they were crap. Nobody wanted them and suddenly everyone knew what is RevPAR and how it is dropping and it means doom and gloom for the tourism industry. I happily picked...

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Crypto Bloodbath

ETH is down like 20% in the last 24 hours. Since it hit $420 about 2 weeks ago, it’s been just sliding all the way, now down about 45%. Given that most crypto currency traders are boys between the age of 16-22, I think it’s about a good time for the bigger boys to come in and graciously help them unload at losses. My account with Gemini is up, but I think a bank transfer is going to take 2 days to credit, so probably by Thursday morning. I’m not sure how quickly I can receive my funds and...

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Kraken Exchange: Part 1

Kraken is a well known exchange in the crypto world. On top of being one of the few big well-known names that does coin-crypto conversions, they have a lot more crosses (cryptos) that can be traded. I thought that a Kraken account would take some time to verify. I read that it could take up to 4 weeks. It took just 10 days for me to reach Tier 3 verification! I wasn’t too shocked that my account was verified for basic Tier 1 (crypto-only) trading after 3 days. However, I was pretty surprised to it took only 2 more...

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Gemini Exchange: Part 1

As recommended by a reader, I went to read up about the Gemini Exchange. It looked pretty good, and it’s actually has very decent volumes. The three nicest things about them is that: 1) They explicitly accept Singapore customers (source) 2) They have zero transfer-in fees (source) 3) They have no deposit or withdrawal limits (source) So far, so good, yeah? I registered an account with them, was greeted with a nice clean UX and proceeded to do the verification process. I was expecting the verification process to take a few weeks, but I was pleasantly surprised that within...

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