Author: Got Money, Got Honey!

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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Why GMGH Gives The Best Advice

Skepticism and independent thinking is dead. I have recently joined several cryptocurrency chat groups on Telegram and 80% of the people are sheep following the 20% who bark out buy/sell orders and attach a picture with some shitty technical charts. The amount of people not knowing what the flying fried fishsticks that they are doing is mind-boggling, amusing and scary, all at the same time. Yes, you can make a shit ton of money from cryptos. Or stocks. Or bonds. Or whatever. You can also win a shit ton of money from winning the lottery. But remember, nothing is...

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Investor’s Insanity: Argentina’s 100 Year Bonds

Argentina has joined the prestigious ranks of countries to issue 100 year bonds. They just sold $2.75b USD worth of 100 year bonds at a 7.125% rate, and their subscription was 3.6X subscribed.  Why is this considered insanity? Because, HISTORY. Let’s see when and how many times Argentina has defaulted on bonds, and how much time between the last bond default, shall we? (Source: Economist) #1 – 1827 – no prior #2 – 1890 – 63 years #3 – 1951 – 61 years #4 – 1956 – 5 years #5 – 1982 – 26 years #6 – 1989 –...

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Change App: What really has changed?

On my newsfeed, this article from the Change blog was shared and that led me to visit the Change site. While I initially thought to myself, “Ooo, what’s this cool idea?”, I realized that I had actually stumbled upon this before, and I thought it was rubbish. I only realized it again after I visited the webpage and thought to myself again that it was rubbish. So what is this.. “challenger bank” thingy? You know me, I love market disrupters like Uber and Grab. Let’s see what this thing can disrupt… Open an account in 5 minutes, okay that’s...

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June 2017 Weekend Ramblings

There’s been a lot on my mind lately. It is no help that the cryptocurrency world is moving so fast! ICOs are popping up left and right, but the good news is that I’m rapidly learning, so I am able to get a feel of how good or bad an ICO is going to be. I think this is particularly useful if bullets are limited and accuracy becomes more important. One of the problems that I am having is finding a good way to convert SGD into cryptocurrencies. In my latest post here on the quick and easy (not...

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Exchanging SGD between Cryptocurrencies (Short Version)

Okay, so here’s the short version because I’m sure quite a lot of people want to know this. You need 2 things: Local bank account Coinhako account Okay, so let’s be quick. SGD -> Bitcoin / Ethereum Step 1: Open up a Coinhako account and do whatever verifications necessary Step 2: Follow the instructions on Coinhako to transfer SGD from your bank to Coinhako Step 3: Buy Bitcoins / Ethereum on Coinhako Step 4: Keep your coins with Coinhako (not recommended) or transfer to a wallet where you own the private keys (recommended) Bitcoin / Ethereum -> SGD Step 1: Send...

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Pump N’ Dump: Crypto style

the pump’ Lads, as I type this now, we are in the midst of one of the most epic pumps I’ve ever seen. If this isn’t bubblelicious, I don’t know what is. Bancor just launched their ICO to massive fanfare. How massive? $151 million in 3 hours. It was such a money maker that they extended the unlimited cap time from 1 hour to 3 hours. It was such a money maker that they raised the cap of 250,000 to… maybe 400,000? It’s 396,000 ETH as I type it now. (source: Twitter) How is this a freaking bubble? Well,...

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If you don’t own Gold, you neither know History nor Economics

Just 1 huge infographic from the Visual Capitalist. Nuff said. How much of my portfolio is in gold? Well over 10%, that’s all I will say. And yes, I buy my precious metals from BullionStar. Full disclosure: If you enter BullionStar through my site, and you buy anything, I get a small commission. This is my main source of blog revenue. I prefer this to asking for “donations” because I rather you get something that you want as well, instead of a tip. Whether you buy at BullionStar directly or enter from my site, the price you pay does...

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No-Bullshit Cashback Credit Cards

With all the banks flinging “cashback” around like groups of monkeys in a free-for-all, I think it’s time that I drop in with my 2 cents. There are cashback cards. And then there are no-bullshit cashback cards. Cashback cards need you to fulfil some criteria, usually it’s a minimum spending of some sort. Some of them only gives you cashback on transactions above a certain value (ANZ, I’m looking at you). Some have ridiculously low caps (Citibank, I’m looking at you). No-bullshit cashback cards are no bullshit. There is no minimum monthly spend. That’s the main thing. Here’s the...

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Cryptocurrency ICOs: Turning $10,000 into $8,166,666 in 3 years

We all know what’s an IPO. What the hell is an ICO? An ICO is an “Initial Coin Offering”, and it’s pretty much exactly what you would think it is. Instead of exchanging money for shares in an IPO, you are exchanging money for cryptocurrencies in an ICO. And why might anyone want to do this? Please see 2 mindblowing numbers. I only picked these 2 because I could find their ICO price and dates without much searching. Ethereum (ETH) ICO-ed on June 2014 at $0.30 USD. Gnosis (GNO) ICO-ed on 1st May 2017 at $30 USD. ETH is...

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CryptoNews: Bandoo is a Local Insurance Startup that uses Blockchain Technology

Another day, another adopter of blockchain technology. I found out about them from this techinasia article. The company in question is Bandoo, which is a platform to buy unemployment insurance. While I clicked on it because it was about disruption in insurance, I was pleasantly surprised to find out that the disruption is using blockchain technology! Ethereum to be exact. Basically, they offer unemployment insurance in an interesting novel way. I might be wrong, but this is how I understand it works: 1st layer of fees is membership fees that is paid monthly as long as your insurance is...

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1.85% Savings Account?! LEGIT, NOT CLICKBAIT I PINKY PROMISE

Edited because of some errors, changes in green. I opened my Citibank MaxiGain account last year in June. I talked about it in Jan about it being a great cash savings vehicle. It’s an interesting account, to say the least. It gives you a variable base interest rate, based on 80% of the 1m SIBOR (current 0.81%, so effective 0.648%). It also gives you an increasing fixed rate, based on how long you had the account. (increase in 0.1% per month, cap at +1.2%) The drawback is that if the lowest balance breaches the previous month’s lowest balance, you...

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Project Ubin: Singapore’s secret SGD-backed crytocurrency

We really cannot say that “ah gong” doesn’t look out for us. When I first read the article from Coindesk, I was shocked. Not shocked that Singapore would actually do it, but shocked by how quickly they got their shit together. Project Ubin, in a quick nutshell, is basically using blockchain technology between banks and also MAS. How can you tell this is serious shit? Well, first there’s MAS. Next we’ve got all 3 local banks – DBS, OCBC and UOB. We have other banks that are here too. And finally we have the technical experts. R3 helped the...

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