Digital currency Bitcoin hits new high before losing S$200 in value in one day

(22-06-2022, 09:53 PM)¯|_(ツ)_/¯ Wrote: I wish you success in your crypto investment journey too. 

I don't own a single crypto to my name. No real plans to do so either. But I fully support crypto bros. To the moon, diamond hands and all that.

  noted that you don't own any crypto now, what about previously?

For the record, crypto is a cult and a lot of crypto investors promoting cult like behaviour. Instead of praying, they would chant moon, moon, moon. To ensure that their believers HODL to their coins, Diamond hand was coined. Our famous (favorite) Elon Musk ko ko is a Diamond hand.

For me? I don't practice all these (other than joining the crowd for fun).

For me, crypto investment is just another investment journey.  I love to learn about anything and that include crypto too.

My journey beginning as a programmer, mining BTC and that was many many many years ago.

More recently, like 5 years ago, I was re-acquainted with crypto again and so I learn about the KYC and started to buy some - purely for the learning experience and it's fun too.  It's great to be surrounded with crypto fans and observed first hand - real life example of people floating around. 

If you asked me how much I would pay for this entertainment (yes, I take my investment in BTC as entertainment fees)?

Well, one month of my salary.   

You see, we earn $$$. Most or I dare says, majority of these hard-earn $$$ would be given/spend on other people and only a small % would be spend directly on ourselves.  Nothing strange, it's always like that.  

So, one month of my hard earn $$$, spending on myself - as entertainment fee is well worth it.  

As the saying goes, "$$$ spend on yourself is your $$$, otherwise, it's just numbers in the bank."

Since I don't follow the crypto cult, I also didn't watch those crypto bro (may be only once or twice in my entire life), because to me, those video is a waste of time.  It served no purposes non-entertaining value to me.   

Enjoy:鬼迷心竅

 

Gratitude! and I wish you an enjoyable investment journey too.

Someone dumped 500++ bitcoins a few weeks ago, causing the share price to drop to $17800 if I remember correctly...

Buyers beware....15250 bitcoins...just preparing my popcorn to watch ......


On Monday, 3AC defaulted on a loan from Voyager Digital made up of $350 million in the U.S. dollar-pegged stablecoin, USDC, and 15,250 bitcoin, worth about $304.5 million at today’s prices.
https://www.cnbc.com/2022/06/29/crypto-h...ation.html

(19-06-2022, 02:26 PM)weijian Wrote: There seems to be more headwinds coming.

The Latecomer’s Guide to Crypto Crashing — a quick map of where we are and what’s ahead

Three Arrows Capital — There’s some weird stuff happening at 3AC from blockchain evidence, and the company’s principals have stopped communicating on social media. 3AC is quite a large crypto holder, but it’s not clear how systemically intertwined they are with the rest of crypto. Perhaps they’ll be back tomorrow and it’ll all be fine. [Update: things aren’t looking good. 3AC fails to meet lender margin calls.] [Defiant; Coindesk; FT]

https://amycastor.com/2022/06/14/the-lat...ats-ahead/

3AC has blown up as the article suspected. Lets see how many more "predictions" from the article will come true.

Crypto hedge fund Three Arrows files for bankruptcy

https://www.businesstimes.com.sg/banking...bankruptcy

(02-07-2022, 10:39 AM)weijian Wrote:

(19-06-2022, 02:26 PM)weijian Wrote: There seems to be more headwinds coming.

The Latecomer’s Guide to Crypto Crashing — a quick map of where we are and what’s ahead

Three Arrows Capital — There’s some weird stuff happening at 3AC from blockchain evidence, and the company’s principals have stopped communicating on social media. 3AC is quite a large crypto holder, but it’s not clear how systemically intertwined they are with the rest of crypto. Perhaps they’ll be back tomorrow and it’ll all be fine. [Update: things aren’t looking good. 3AC fails to meet lender margin calls.] [Defiant; Coindesk; FT]

https://amycastor.com/2022/06/14/the-lat...ats-ahead/

3AC has blown up as the article suspected. Lets see how many more "predictions" from the article will come true.

Crypto hedge fund Three Arrows files for bankruptcy

https://www.businesstimes.com.sg/banking...bankruptcy

I wouldnt be surprised if next one to go be microstrategy, along with maybe even coinbase and other exchanges like binance once there is a run from investors to cash out of whatever remaining crypto they have.

Looking forward to the next Michael Lewis book

https://sg.finance.yahoo.com/news/voyage...43593.html
Voyager Digital suspends trading, deposits, withdrawals, rewards

[UPDATE] Liquidators trying to seize properties owned by Three Arrows Capital co-founders.

https://sg.finance.yahoo.com/news/liquid...45977.html

Speaking of Three Arrows Capital, someone(I dun know personally) in one of the social media groups shared the link to its YE2020 filed returns retrieved from ACRA. The doc looks legit but maybe just take it as reference/educational purposes. I am surprised that the equity was just a few million !!?? Perhaps it managed to find funding afterwards...  

----------------
https://www.scribd.com/document/58071328...ore-Return

(05-07-2022, 04:12 PM)BlueKelah Wrote: [UPDATE] Liquidators trying to seize properties owned by Three Arrows Capital co-founders.

https://sg.finance.yahoo.com/news/liquid...45977.html

Just for my interest sake. If he transfers his properties to his wife name just in time, then there is nothing the liquidators can do to him right?