Author: Got Money, Got Honey!

The Useless-ness of Utility Tokens

Interesting new position and legal stance from the Iconomi team. TLDR – ICN has always been useless ICN will seize to exist but can be converted to either actual security tokens, or for ETH Interesting trade opportunity: They are committed to buy each ICN at 0.0019 ETH, which is higher than the current market rate of 0.0017 ETH. If you think that they will actually go through with it, you’ve got yourself an 11% profit trading strategy. As I’ve mentioned before, a lot of “utility tokens” are useless and worthless. I see a lot more people cycling into very...

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Austrian Gov to issue $1.3b of bonds on ETH public blockchain

Been extremely busy lately, haven’t had enough time to keep up with the markets, let alone blog about them. Things should lighten up for me soon. You can probably expect me to push out content in late Oct and start finalizing and posting my 100+ drafts entries. Anyway, interesting news, just wanted to share this tidbit. The Austrian government will be issuing out 1.15b EUR of bonds over the public Ethereum blockchain. Source 1 Source 2 German Source That’s right. The PUBLIC chain. The chain that me (and maybe you) holding ETH is part of. Obviously, this is of...

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The Australian Property Bubble

First, just watch these 3 videos. The Australian property market is crazy. I talked about it in 2015. The first 2 videos give you an on the ground look on what is happening. The 3rd video shows you the viewpoint from an investor who is thinking of shorting the market. It’s an excellent case study of a housing bubble and I am eager to see how this plays out. It has been my view that the Australian and Canadian property markets are crazily overvalued and due...

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Value Investing Case Study: Does it apply to Crypto?

For some reason, I managed to stumble upon this article by Dr Wealth that was written back in Feb 2018 regarding his LTC trade. Simple TLDR is that the NAV was $1.63, but was trading at $0.60. Dr Wealth had quite high confidence in the integrity of the underlying assets, since they were largely in (1) investment properties that are yielding good rental, (2) fixed deposits and (3) cash and bank balances. These kind of assets do not need to be marked down deeply when considering their salvage value. 7 months later, buyout offer with a 54% return from...

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Last month my savings account interest was 2.48% pa

I push out mostly crypto content these days, but I remember the good ol’ days when I talk about squeezing blood from rocks to make your money work for you. I made a post about the best place to park your money, and though it is a bit outdated, I’m glad to say that the Citibank Maxigain account that I have strongly recommended people to consider is chugging along very well. Based on the interest I received last month, the annualized return is 2.48%. Even CIMB, who is well-known for usually having one of the best fixed deposit rates...

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Guys Im finally losing money in Crypto

Been crazily busy with work, life and of course crypto the past month plus. Things should start slowing down for me in late Oct or Nov, and hopefully I will be posting a lot more then. The BTC 2013-2014 bubble pop saw BTC price decline 92%. That’s scary. It took 3 years odd to reclaim back those ATHs. ETH is currently sitting at an approximately 85-86% drawdown. If we match those 92% drawdowns, we are looking at $110. (Why would we? Why should we?) The past month has been particularly brutal. Can you imagine that I’ve managed to stay...

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Wew Crypto Reeeeeeeee

Markets are crazy today, lol! Positions got closed out at 28.7% and 92% profits respectively. And this is after manually reducing positions and taking profit earlier at 147% and 238%. Just another day in crypto paradise. Only trading position left is ETH which is, obviously, underwater at this point of time. Oh dear me. Whatever will I do? Just wait lor. Haha. Would you like to counter trade me? You can, here on Bitmex with up to 100x leverage to go long or short! *wink...

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3 Crypto Weeks Later…

3 weeks ago I posted that I was buying and leveraging up… Then, BTC was ~$6500 (my entries were lower). Today it is $7200. How’s my Bitmex ROE looking? Looking fantastic, thank you very much. The top 3 are my same positions as my previous post. The last row is my additional position in ETH. Whoever is the crypto whale that signed up with my Bitmex ref link, bless you and I hope your trades has been going swimmingly well, as mine have. For everyone else, Bitmex is where you can trade up to 100x your capital that the...

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More Quick Crypto Updates

Since my last post, crypto tanked – again – and made fresher lows. A lot of people might have suspected that I have killed myself with crypto tanking so hard like a beech lately. Unfortunately, I am still alive. With the markets making crazy moves, I’ve been busy making moves as well. Talking shit on my blog comes secondary to making money, as many of you would also probably agree. I’ve so many posts drafted and waiting to be cleaned up before posting, but obviously the market is more important. This will just be a quick one, but the...

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Quick Crypto Musings

– the hype in the space has been mostly cleared imo – most of the quick flipping degens have either rage quit, or are down at least -50% from capital (stuck, refusing to book a loss) – BTC and ETH looks great to me (I am contrarian) – ETH looks much better FA and TA wise – BTC has the better branding, and will be the 1st port of call for fresh funds (retail and institutional alike) – my play on the majors is buying ETH to front run the ETH/BTC pump that will eventually come (could be months...

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A Traditionalist Approach to Bitcoin

Here’s Bill Miller’s take on Bitcoin. It’s a very good take. Paraphrasing: – uncorrelated asset – put 1% into it – anyone can afford to lose 1% of their portfolio – it’s a positive expected return lottery ticket Bill Miller says Bitcoin is interesting but that most cryptocurrencies worthless https://t.co/keSepOKmkH pic.twitter.com/2bkHSiHa5L — Bloomberg TV (@BloombergTV) July 27, 2018 I am so balls deep into crypto now that I feel like an expert on money and incentives. Funny thing is, most people, even investors, have shit knowledge on money itself. Making money? Easy. Spending money? Easier. Saving money? Great. Investing...

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The Govt should NOT bail out Hyflux

I read this post by Blade Knight from Dividend Passive Income talking about the Hyflux shitshow. As many know, I rarely go out of my way to call out really trashy investments, because let’s face it, a lot of investors are irrational and will gladly and happily buy up stupid shit. Just because something is terrible fundamentally, does not mean that it cannot be a good investment. Plenty of examples in crypto of pure dogshit going to the moon and making early investors 10-100x their investments. But Hyflux and Noble are my muse. I go the whole nine yards...

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Co-ops before Co-ops were Cool

With the recent 2 co-op articles pumped out by Dollars & Sense (one of the few financial blogs that I hold in high regards) and by SG Budget Babe (fellow crypto warrior), I thought it’s time that I dug out my old posts on co-ops. About 2 and a half years ago, I blogged about a mysterious financial product that as it turns out, is actually savings and share subscription at one of the co-ops. Based on the last financial report, annual dividend is at 3% and there is a 30% buffer, making it a rather “safe” investment vehicle...

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Crypto Securities coming faster than you think

Note: I drafted this post on 7 June 2018, not sure why I didn’t post it. ——————————————- Remember my post just a while ago talking about crypto securities? The wheels are in motion by both Coinbase and Nexo. So institutional custody solutions are coming, and now crypto securities are up next. (As a side note, I want to reaffirm my stance – AGAIN – that people who classify crypto securities as a “negative” might be missing some brain cells. There have been several notable cases of projects stripping and removing every ounce of valuable feature from their tokens, making...

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17 Jul 2018 Update

Crypto markets suddenly turned bullish on a dime. Coinbase greenlighted for securities. Blackrock rumours. Billionaire Steven Cohen gettting into crypto. CIA positive? South Africa’s financial firms adding crypto India to regulate instead of ban crypto Eve Bloomberg is bullish To be honest, I’m meh about it. I’ve mentally hardwired as a contrarian psychopath, so I don’t really care. To be honest, slightly bummed out that it didn’t hit levels for me to raid my warchest (that I’ve been topping up slowly) and to add another leveraged long position, but oh well. The gain in my portfolio is nice, can’t...

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