As the Chinese saying goes "知己知彼，百战百胜". It means that in order to win you must recognize what are your edge over others - such as what do you know but others don't know, what skills do you possess which others don't have, what's your investing temperament, what tools / assets do you have and how adept are you in using them.
If you are always copying others' actions and could not think for yourself why you chose to do what they did, then you will never find your edge. You can't win by copying Warren Buffett, you can't win by copying Peter Lynch, Donald Trump, your favourite blogger or anyone else - because they each played a different ball game with their own edge.
When you have found your so-called edge or methodology to win, test it out repeatedly and fine-tune it to your maximal ability. If you find that what you have been doing is NOT helping you to achieve your goals, then stop, erase and start over. Don't wallow in the sunken costs.
Quoting Albert Einstein - "Insanity is doing something over and over again and expecting a different result."
You could start by finding your circle of competence in the market then slowly expand the circle by reading, practicing, having a mentor and keeping your own investing diary.
In the market, great fools sell to greater fools, great fools buy from greater fools... when you get richer, somebody else gets poorer. Find our edge to be the lesser fool and be our own master in the game we chose to be in.
Hi Uncle8888, Then you must be neither of them. Probably the Kungfu panda master somewhere in the mountains (you could choose to be like/ beat any of them).
For those of you who are new to Defi gaming, perhaps you will get a better idea after reading this post or trying it out personally on one of the blockchains. I have also appended some related articles at the end for your reading pleasure. The ancestor blockchain of Defi gaming is of course Ethereum, where smart contracts gave birth to a myriad of popular games like Cryptokitties, Aavegotchi and Axie Infinity. There are even upcoming blockbuster-to-be games eg. Illuvium (token price $539.37, TVL S$5,473,192) with huge capital locked in even before launch. As users move towards the preference for lower gas fee and higher speed, we see Defi game space rapidly expanding into various other blockchains such as Polygon, Binance, Fantom, Solana, Enjin Jumpnet, Terra... to name a few. And do you know that Singapore is home to a few blockchain gaming fintech companies? Recently, I have started playing this new Defi game called Rarity and find it mind-blowing. Mind-blowing not because of the
https://pwawallet.fantom.network/#/dashboard Why stake on Fantom? The incentive of staking FTM by delegating to a validator on the network is for both staking reward (about 13%) and the usage of minted sFTM (the proof token for staking) as collateral to borrow fUSD. We can subsequently swap it for other synths eg. wFTM. [ Do note that fUSD is NOT pegged to USD, so it is often valued less than USD1 when you try swapping it for other stablecoins like fUSDT on Fantom. ] What is crypto staking? [External link] I find that the entire interface of PWA wallet is not intuitive at all. I was kind of in a lost after connecting my wallet, and had to read a walkthrough before I managed to stake and finally get some fUSD. The reward for borrowing fUSD was pathetic, by the way. For sFTM minted, you will be able to find it under Collateral Positions below and fUSD you will find it under Synths Positions on the fMint page. The real hassle came when I wanted to reverse everything and undelegate my
Binance.com has recently announced that it no longer offers Singapore users fiat deposit services, spot trading of cryptocurrencies, the purchase of cryptocurrencies through fiat channels and liquid swap (“Regulated Payments Services”). This has caused quite a frenzy for local users to off-ramp their assets on Binance to fiat or to some of these other crypto platforms like Gemini and FTX. Earlier on I have written a post on Thinking backwards . Before you on-ramp your money to any platform, it is wise to also consider the options available for off-ramping. Photo by Executium on Unsplash Other important considerations when choosing the suitable CEX platforms for your crypto investments would be the security features, ease of use, list of supported cryptos, trading fees and their interest rates / "earn" programmes. Below is a comparison table for fiat on-ramp and off-ramp to some platforms I have used. Do use my referral here if you are interested to sign up for any of them
All. How?
ReplyDeleteHi Uncle8888,
DeleteThen you must be neither of them. Probably the Kungfu panda master somewhere in the mountains (you could choose to be like/ beat any of them).