PeterMosesLee

featuredpeterbllee@bbs

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I was in the accounting line for decades but did poorly because of https://bbs.market/MEMORE/posts/dUw7bXuAZfNcr01XoBUO Recently I changed my career to become a ✍️writer so that I can work slowly without irritating bosses

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An unexpected new currency

Will the USD be dethroned by efforts to dedollarize? The amount of $'s in circulation is increasing tremendously as more and more is printed as a result of deficit spending. Governments try to blame inflation on external factors or factors beyond their control such as wars or supply chain issues. Even though authorities may not admit it, the growth in money in circulation is a primary cause of inflation. One of the areas that greatly affects us is the increase in food prices. https://www.channelnewsasia.com/commentary/inflation-economic-outlook-instant-noodles-ramen-demand-4194896 The post in the link talks of the price of instant noodles being an indicator of the state of the economy. It also talks of packets of noodles becoming a currency. Will we come to the stage when we use noodles to trade for other objects? In my country the price of instant noodles have risen substantially in the last 1:year - around 20% Nissin which is one of the brands mentioned in the post is available in Malaysia. But it is by far not among the cheaper brands. The food giant, Nestle, produces what may be the most popular or well known brand of noodles in Malaysia that cost less than half of Nissin products. The product made by Nestle is a popular food sold by hawkers or street vendors. High class cafes may offer Nissin products in their menu. Do you eat a lot of noodles? There is usually packets of noodles in my house around the year as I eat them frequently. My daughter loves to eat them. 2y

💰Crypto Corner 📈

Russia capture of Avdiivka from Ukraine

https://www.aljazeera.com/news/2024/2/17/ukraine-troops-withdraw-from-frontline-city-of-avdiivka-army-chief-says The battle for Avdiivka like the battle for Bakmust has been a costly one in terms of casualties for both Russia and Ukraine. So the decision by Ukraine to withdraw from Avdiivka for the sake of reducing casualties of its troops is a good decision. Most of the city of Avdiivka has already been destroyed in the fighting that has already taken place. What is important to Russia is not so much the assets in the city but the pushing away of the frontier with Ukrainian forces. This teduces the shelling of Donetsk by Ukraine.2y

💰Crypto Corner 📈

Hoping that the rise in level of BTC will also raise BBS

All of us who have BBS tokens are interested in the price of our tokens. As often is the case, when the price of BTC collapse, the price of Altcoins fall even more. As a relatively small and unknown token, the price of our BBS tokens fell by even more than the average fall in Altcoins. Although the price of BBS has more than doubled from its All Time Low, we are still lagging compared to the recovery of the price of BTC. Hopefully BTC will continue to rise and with it BBS will also rise. https://www.youtube.com/live/m-P10tMmZbM?si=mpD1NlNmNIJwS6tS There was much hype over the approval of BTC spot ETF. The price of BTC rose substantially in anticipation of the approval. Those who are new to cryptos and bought BTC because of the hype may have been disappointed that after approval BTC suffered a price correction. There are 2 factors that led to the price correction. Firstly, the price has risen substantially before the ETF approval and so has already priced in the approval. What market players call "Buy the rumors, sell the news". After the correction BTC will find a base from which it can then rise again to new heights. Secondly there is the selling of BTC by Greyscale. Greyscale is one of the parties that had been approved to have a spot BTC ETF. But prior to that, it already had a BTC trust which held huge amounts of BTC. probably the largest holder of BTC and having more BTC than whales like Michael Saylor and Elon Musk/Tesla. Those who bought into the Greyscale Trust had done so at a time when the price of BTC was low and often at a discount of up to 30% to the prevailing price of BTC. Such buyers benefitted from both the increase in price of BTC and the reversal of the discount. Selling of the trust by such buyers to cash out such gains contributed to the selling of BTC by Greyscale. For some time, the selling by Greyscale negated the buying of BTC by Black Rock, Fidelity, ARK and other smaller BTC ETF's. The selling by Greyscale has now dwindled and the buying by the other ETF players is now pushing the price of BTC up. In previous cycles, rallies in BTC are driven by retail investors. Institutional investors have stayed away or is not allowed by law or their constitutions to buy BTC. The approval of Spot BTC ETF's has now made it possible for Institutional investors to purchase via the ETF'S. This has greatly increased the funds that may be committed to BTC. Another positive factor for BTC is the impending halving for BTC in April. In previous halving cycles most of the price increase of BTC occurs after the effect on the reduction in supply of new BTC caused by the halving is felt. This does not take place immediately on halving but builds up over time (lasting around 500 days) . Prior to the halving, there is usually a build up rally followed by a correction period. The pre halving rally will take out the 0.618 Fibonacci retracement from the fall from the All Time High of $69K. Combining the ETF approval with the usual halving cycle has seen the price of BTC rising faster pre halving then in previous cycles. Yesterday surge above $50K has taken out the 0.618 Fibonacci retracement when it is more than 2 months to the halving. WILL THE PRE HALVING RALLY ALSO TAKE OUT THE NEXT FIBONACCI RETRACEMENT LEVEL? WILL THE PRE HALVING CORRECTION BE MILDER THAN USUAL? George of CryptoRus thinks so and predicts a BTC price of $60K within the next 2 weeks.2y

💰Crypto Corner 📈

Are Cryptos going Higher or Lower

In the long term Cryptos are likely to go higher (though there are nay Sayers who say that they are scams and will go to zero) In my opinion, while there are Cryptos that will fail and go to zero, there will be many that are here to stay and will increase in price. For Cryptos that are here to stay, it is the time horizon that you have to look at or hold them in order to gain from them.  SO WHAT DO YOU THINK WILL HAPPEN IN THE  SHORT OR MEDIUM TERM? (Say next 3 months and up till the end of 2024) The price of BTC went down from $49K to $39K. Then recovered to $42.7K and is now around $42K. The rise and fall of BTC affects the other Cryptos and in fact they rise and fall more severely than BTC. HAS CRYPTOS FOUND THEIR BOTTOM? If Yes, then the drop in January was a buying opportunity that those who did not buy then missed. If prices go up substantially from here, they will either have missed the boat and be left behind or have to pay a lot more than what they could have bought for in January. 🦋   I thought that $39K was not the bottom and expected BTC to test $38K. I expected it to bounce from this level. In the event that $38K fail to hold, the BTC could go down to between $30K to $32K. There are analysts who believe that BTC could go below $30 and I have seen analysts that quote $15K WHAT DO YOU THINK? HAVE YOU MISSED THE BOAT OR WILL THERE BE THE THE OPPORTUNITY TO BUY AT BETWEEN $15K TO $38K? https://www.youtube.com/live/ZGWuuQHf1i4?si=BlXKbJDjJZHFRuuX For me I expected $38K to hold and $30K as the Worst Case scenario. As a retiree with no extra money to invest in Cryptos, my total purchase orders that will be filled if $38K fails to hold is $35 only. Since I am already almost all in when the BTC was at $39K, I did not miss the boat.🦋 WHAT ABOUT YOU?2y

💰Crypto Corner 📈

In What Direction Do You Expect Interest Rates To Move?

After the 2008 Great Financial Crisis (GFC) interest rates around the world were slashed. Through a series of rate cuts, the band that the Federal Reserve used was brought down to 0 - 0.25% In Japan and some European countries, the interest rates even went negative. Their sovereign bonds were issued with negative rates and depositors with large deposits also suffered negative rates. At the time of the GFC, it was necessary to slash interest rates to very low to prevent the financial system from collapsing. After the collapse had been averted, and the financial system stabilized, interest rates should have been gradually increased. This was not done and interest rates were kept low for over a decade. In the USA, the Feds did not start to increase theirv interest rate until Mar 2022. But once the Feds started to increase interest rates, they did so at at an unprecedented rate of increase. Through 11 rate hikes from March 2022 to July 2023 in a space of 17 months, the rate was increased by 5.25% Although the current interest rates are lower than what the then Fed chair, Paul Volker, had the rate of increase in 2022 and 2023 was greater than any time in history. It took the Feds band from 0 - 0.25% to 5.25 - 5.5% According to the Feds the drastic rate of increase was necessary to fight inflation to bring it down from about 8% to the target rate of 2%. Since the last rate hike in July 2023, there has been 3 FOMC meetings that the Feds have let the interest rate band unchanged. After the first pause in interest rate hikes, the market was hoping for the Feds to pivot and start reducing interest rates.  Inflation has not been brought down to the target rate of 2% yet and until the recent FOMC meeting in December has always been above 3.2% In the first 2 FOMC meetings that the Feds left interest rate unchanged, they have left the possibility of more rate hikes in the future open. They said that inflation was still not fully under control and their dot plots of likely future interest rates still showed the expectation for the rate to go up further. After the first 2 FOMC meetings that paused interest rate hikes, the  Feds cautioned against market expectations of imminent rate cuts and said that rates will remain "higher and longer" than markets expect.  What transpired at the December 2023 was a major change by the Feds. Their dot plot of expected interest rate now shows 3 rate cuts of 0.25% each in 2024 and a further 4 rate cuts in 2025. Based on prices in the futures market, the market is pricing in greater rate cuts that what is projected by the Feds  The market is pricing in a total cut of 1.5% for 2024. Questions for discussion in comments: 1)  DO YOU EXPECT INTEREST RATES TO GO UP OR DOWN? 2)  WHEN DO YOU THINK RATES WILL START GOING DOWN? Will the Feds wait to see what the rate of inflation and the state of the economy is before they cut rates in say March or April? 3) WHY HAS THE FEDS CHANGED FROM "HIGHER FOR LONGER" TO BEING OPEN TO RATE CUTS?2y

💰Crypto Corner 📈

Black Rock : Fed Rate Pause is Greenlight For Investors

Blackrock is the world's largest fund manager. They understand how  changes in interest rates affect investments. According to Blackrock, the pause and change in stance about interest rates is good for investors https://watcher.guru/news/blackrock-fed-interest-rate-pause-a-green-light-for-investors Until the FOMC Meeting in December 2023, the Feds have been maintaining  that interest rates will remain high and even said that there could even be more rate hikes So the FOMC announcement that it expect 3 rate cuts of 0.25% each in 2024 and a further 4 rate cuts in 2025 caught a lot of people by surprise.  Following that announcement, yields of treasuries and bonds fell. How is a fall in yields good for investors? The yield that a bond/treasury  gives is the rate of return provided by it. It is calculated by dividing the interest it pays by the price of the bond/treasury. The coupon rate of interest paid by a bond is fixed at the time it was first issued. A bond that was issued at $1 and has a coupon rate of 3% will always pay 3 cents per year regardless of changes in market rates and the price of the bond.  If the yield expected by holders of such a bond is 5% the price of the bond will fall to 60 cents so that someone who buys the bond at 60 cents will earn a return of 5% from the interest of 3 cents that he receives.  If the yield markets expect falls to 4% the price of the bond he bought will rise to 75  cents, giving him a gain of 15 cents from the price appreciation.  Yields and the price of bonds move inversely. When yields fall, price rises. Investors who already have interest in bonds benefit from the rise in price.  Falling interest rates reduces the cost of capital for doing business. This can be the amount of interest paid for bank loans/overdrafts or the amounts required by other providers of capital. This reduces cost, increases profits and  value of shares of companies. The real estate market is also highly affected by interest rates. Most purchases of real estate are partially financed by loans.  Lower interest rates means lower interest cost.  The amount that can be borrowed by purchasers is also dependent on interest rates as the amount required to service loans depends on interest rates. So lower rates increase the amount that can can borrowed to finance properties.  In general it can be said that the pivot of interest rates from "higher for longer" to the expectation of falling interest rates is good for investors2y

💰Crypto Corner 📈

What is the likely direction of the price of Bitcoin?

Recently I was talking with a friend about the world economy and what may happen to the currencies of the world. He asked me whether it is still OK to buy Bitcoin and crypto currencies. The prices of cryptos are very volatile and many cryptos have failed and no longer exist. The smaller the crypto the more volatile the price can be. Cryptos have been known to lose 90% of its value within a single day. The 2 biggest cryptos Bitcoin (BTC) and Ethereum (ETH) are less volatile than the other cryptos (Altcoins). However over a period of weeks BTC and ETH can lose 80% to 90% of their value. Better than losing that amount in a single day but nevertheless very painful loss to suffer. While exposed to severe losses, Cryptos offer huge gains. Some Altcoins can double or triple within a day and BTC or ETH may gain, say 30% within a day. If you are new to cryptos and still dare to go in after knowing how volatile they can be, it is probably best that you start with the relatively less volatile BTC and perhaps ETH (which is more volatile than BTC) . The All Time High (ATH) of BTC was in November 2021. The actual ATH of BTC depends on which exchange you look at and can be below $65K to almost $69K. As the price fell from ATH, $40K offered a support level for months. But when it lost that level $20K was another very strong support level. When BTC lost that level, its naysayers said that it could go down to $10K which it did not. BTC started 2023 at $16,625. The support level of $20K became a resistance level that BTC struggled to break. The price will pull back whenever it is at $20K. After breaking that level it hovered around $26K. After breaking the round figure of $30K, BTC bounced between $35K to $38K. The last 3 weeks of November 2023 and the first week of December saw BTC break out of that band spectacularly. In that 4 week period it shot from $37K to $45K. It then pulled back to $43K. Why the surge on BTC and what is the likely direction of its price? Positive factors include: 1) Market expectations of Fed funds rate has shifted from higher for longer to expectation of a rate cut by the first quarter of 2024. 2) Concerns about the ballooning USA national debt which has now exceeded $34 trillion. The debt will continue to grow given the huge increase in interest cost after the Fed increased interest rate by 5.25% from the initial band of between 0% - 0.25% The spending to support Ukraine and Israel in their wars and providing them with weapons and ammunition will also push spending and the deficit & borrowing. 3 ) Geopolitical uncertainties 4) Halvening that will happen for BTC in early 2024. About once every 4 years the difficulty of mining BTC doubles (the amount of BTC given to miners is halved). This decreases the supply of new BTC and so halvening usually cause the price to go up. The price of BTC does not go up or down in a straight line but zig zags between ups and downs. From its ATH in November 2021, the trend was down in 2022 but has reversed in 2023. Starting 2023 at $16, 625 the ups have exceeded the downs and the current leg took the price to $45K. The resistance of $38K will now become a support level. Even if the price retreats to that level, it is likely to bounce and start another leg up. Given the positive factors mentioned above, it is widely expected that the ATH of $69K will be taken out in 2024. There are people who say that BTC will exceeded $100K and also those who say that $250K is possible. What some people say may be hopium (mixture of hope & opium) being overly optimistic. But given what BTC has done in the past, it is also not impossible. My expectation is that the ATH will be taken out.  Starting from $52,000 I will sell tiny amounts (0.0005BTC) and will progressively sell such amounts as the price rise more.  Whenever a sale order as mentioned above is filled, I will use the sales proceeds to place a buy order at around 5% below the price it was sold.  Sometimes the buy orders as mentioned above can sit unfilled for months.  They get filled only when a major  price correction occurs (price retreat by more than 20℅). Instead of being upset by such major corrections, I am happy as many of my outstanding buy orders  get filled.  The fear of the price volatility keeps some people away from  cryptos. For me, volatility is my friend or the "fertilizer" that helps me to grow the amount of cryptos I have as explained above. No new capital is required. Just use sales proceeds to place buy orders and wait for price to fall.  In this way when the price retreats, I will end up with a little more BTC than the amount sold.  What do you think the price can reach in 2024?2y

💰Crypto Corner 📈

Crypto Currencies and CBDC's

Are crypto currencies like Bitcoin and Ethereum the work of the financial elites? No they are not. They were started by people who were aware of the debasement of fiat currencies and were alternatives that people could use and to protect themselves from the debasement that will get worse. So are the financial elites against cryptos like Bitcoin (BTC) and Ethereum (ETH)? A continual rise in the price of cryptos will draw funds away from the bonds and stocks which are promoted and are the source of income of the financial elites. The financial elites try to discourage people from going into cryptos. They spread the narrative that cryptos have no intrinsic value, are highly volatile and can go down to zero and that many are scams. Indeed some cryptos are scams but many failed cryptos that have died (gone to zero) are because of poor design. have little actual use, have serious flaws, or simply have incompetent developers. Even established cryptos like BTC and ETH have had such accusations hurled at them. Just because the financial elites are against cryptos and would prefer people to stick to bonds and stocks does not mean that they have no use for cryptos. The independent cryptos like BTC and ETH are precursors to what what be introduced by the financial elites such as CBDC'S or Central Bank Digital Currencies. The CBDC'S will build on technology developed by independent cryptos. The independent cryptos also serve to get people used to digital assets and accept CBDC'S when they are introduced. Many countries have started to develop CBDC'S and a few has introduced versions on a trial basis. Countries can try to ban or clamp down on the independent cryptos but its people will still use them. So what countries will do is to introduce their own national cryptos in the form of CBDC's and encourage their use. China is at the forefront with a digital Yuan which was launched a few years ago and was used during the Olympics Games hosted by China. Initially individual countries will introduce their own CBDC'S. Eventually the national CBDC'S will be replaced by a global CBDC. How is this likely to come about? I believe that discriminatory taxation will be used. Different tax rates can be applied to different cryptos. For example a prohibitive tax rate of say 60% can be levied on independent cryptos while a tax rate of say 20% is levied on CBDC'S of other countries and a negligible tax rate is levied on its own national CBDC. Once CBDC'S have become widely accepted and used, they will be replaced by a global CBDC. One possibility of the global CBDC is a digital SDR issued by the International Monetary Fund (IMF) SDR or Self Drawing Right has existed since 1969. SDR is a topic that deserves a separate post that that I will make. I will give a brief description in this post. SDR is a form of reserve currency or asset given to countries. It is not used by countries and not by individual people. It was given by the IMF to countries free of charge in 1969. Countries which do not use the SDR that they have earn interest while countries in need of fund can borrow SDR. When global liquidity crisis occur, IMF issues new rounds of SDR to the countries of the world. There will come a time when the world economy is so bad or is so short of liquidity that the IMF will have to save the world by issuing a massive amount of SDR. Instead of being used by countries only, a digital form of SDR will become a global currency used by everyone replacing all the paper fiat currencies and national CBDC'S in use at that time. We will than have a digital One World Currency that can be used to control and monitor everybody.2y

💰Crypto Corner 📈

5 Legendary Nasi Lemak in Malaysia

Malaysia is a food haven. Malaysia does have a lot of natural beautiful sites such as: - island resorts with beautiful beaches and water related activities such as snorkeling, water skiing, hang gliding while pulled by speed boats- historical sites dating from colonisation by Dutch, Portuguese, and Britain - culture of settlers from China, India, parts of Indonesia such as Sumatra, Java and Bali- hill resorts like Cameron Highlands, Fraser Hills and ultra modern Genting HighlandsBut being the melting pot of people of various races and cultures one of the main attractions of Malaysia is the diverse food that is available in Malaysia. Food is not only delicious but the prices are what international travellers will consider as ridiculously cheap. Nasi Lemak can be considered as the "National Dish" of Malaysia. It is eaten for breakfast, lunch, dinner, and supper. Nasi Lemak is rice cooked with Santan (Coconut milk made by squeezing grated old coconuts) and a bit of salt. The coconut milk adds a delightful fragrance to the rice. The fragrance of the coconut milk is often enhanced by adding Pandan leaves when cooking the rice.Based on postings on the internet the best Nasi Lemak in Malaysia is reputed to be from Wanjo located in Kampung Baru. Foreigners who rely on the reviews on the internet will make it a point to try the Nasi Lemak from Wanjo. Kampung Baru is a Malay enclave located right in the middle of Kuala Lumpur, the largest city of Malaysia. Old fashioned Malay houses can be found in Kampung Baru  right in the middle of Kuala Lumpur with its skyscrapers. In the video below ( which unfortunately does not have English subtitles), 2 Malay Nasi Lemak afficionadoes taste test the Nasi Lemak from the 5 legendary vendors in Kampung Baru. Based on the the rating by  one of them, the best Nasi Lemak is that from Kak Chup. Next is Pak Hassan and then Wanjo. Antarabangsa which at one time was the most famous is #4 with Dang Wangi at the bottom of the pack. Dang Wangi is the vendor who used to be in the corner coffee shop located at Cambell Road (old name for the road that was renamed to Jalan Dang Wangi). With the redevelopment of Jalan Dang Wangi,that coffee shop is no longer in existence. Dang Wangi Nasi Lemak now operates in the nearby Kampung Baru area. Wanjo is the most expensive of the five, with a basic set costing RM4 (less than US$1).The price if you add on meat such as chicken or beef can exceed RM8. Wanjo was started in 1963. It is currently run by the grandson of its founder. A basic set of Nasi Lemak usually include the fragrant rice together with sambal (a spicy concoction that has chillies or hot peppers) , egg, anchovies and peanuts. The basic set of the 5 vendors cost between RM3 to RM4. It is possible to get packs of Nasi Lemak in Malaysia for RM1.5 (before Covid the price can be as low as RM1). What is special about the rice of Wanjo (as well as that of the other 2 that is in the top 3) is that it is steamed instead of boiled. Steaming makes the rice more fluffy and not stick together. The beef rendang in Wanjo is reputed to be good and is the favourite of its customers. Rendang is a particular form of curry that includes ground lemon grass and coconut and is slightly sweet One of the commenters to the video says that the top 2, Kak Chup (Elder sister Chup)  and Pak Hassan (Uncle Hassan) are actually brother and sister. The rating of the top 3 by the person who went round buying the Nasi Lemak is : 1 Pak Hassan, 2 Wanjo  3 Kak Chup. The same 3 but in a different order. The difference can be attributed to personal preference of how sweet the sambal should be. The ratings by local afficionadoes who know well the various vendors that are in Malaysia is a better indication of the best Nasi Lemak compared to the choice of tourist who have only sampled the wares of a few vendors. By the way, if you want to eat the Nasi Lemak from Kak Chup, you have to go to Kampung Baru early in the morning. It is sold out by 9am. 🤤🦋🤤 For those who have eaten Nasi Lemak before, what is your opinion of this food? What is your favourite accompaniment for Nasi Lemak? Besides the various types of curries that include chicken, beef, squids, fish you can have the various meat fried and also potato, vegetables, and Tempe which is made from fermented beans.🤤3y

💰Crypto Corner 📈

New York City

This post will take you on o tour of New York city. The tour guide,Tiffany Poon, is a person I like very much. I like the tour guide so much that one channel of a BBS board I own is dedicated to her. You can say that I am such a fan of Tiffany that the channel is like a Tiffany Fan Club. The places shown by Tiffany may not be places where a tourist who in a tour group rushing from place to place and city to city may want to go to. The places are most suitable for those who have a lot of time to spend in New York. This tour of New York is especially suitable for those who like places related to arts,culture and history.  Tiffany will not just show you the outside of the places but take you inside those places. First stop is Carnegie Hall. This was founded by the Carnegie who has written books and have conducted many seminars and courses on motivation and how to succeed. This is a very prestigious centre for hosting events. The rental will not be cheap and unless you are famous you will not hold your event there. Carnegie Hall has excellent acoustics and so if you are a famous muscian, you may want to perform there. If you are just a music lover, attending a concert at Carnegie Hall will be an unforgettable experience. Second is the Lincoln center, in particular the Metropolitan Opera House. Besides being used for operas,singers and musicians can also use the place (just like for the Sydney Opera House in Australia) Next is the Metropolitan Museum. This is a huge museum that is not restricted to American history and culture. It has sections for different continents and countries. It includes paintings sculptures and other things that you expect to find in museums. You can easily spend the whole day there and yet not finish looking at the exhibits there. It will take you many days to cover everything. Final stop of the tour is central park. It is a great place to hang out, relax, take a walk, exercise, look at  people or do your thing. You can  give a speech, dance, sing, play musical instruments, have open air gatherings with a lot of people etc. Tiffany is actually a famous and well loved musician and so during this tour of Central Park, she had a meet up with fans Was this tour unusual? Did you enjoy it? Do you like the tour guide? What do you think of her? Is she cute or do you like her playful bubbly personality? Do you want more virtual tours? Tiffany performs concerts around the world and she makes Vlogs (Video blogs) Do you want to know what type of musical instrument she plays? If there are requests, I can put links to some of her performances. As mentioned earlier, I am such a fan that I started a fan club for her and will welcome you into my fan club. 🦋4y

💰Crypto Corner 📈

SCAMS

Have you ever been scammed? If yes, we can learn from you and avoid the mistake you made if you share your experiences. It is better to learn from the mistakes of others than to learn from our own mistakes (our pocket is not hurt) Perhaps the damage to our own pocket will help us to remember the lesson better.   🦋 was careless about the spelling of a website and fell for a scam. It was a painful lesson for🦋 🦋 wonder I can recover some of the money I lost through the following4y

💰Crypto Corner 📈

🦋 Technical Analysis

There are some 👬👫 who are very good at technical analysis (TA) Those who read the TA by them can get good guidance on whether to buy, sell or just hold on to their cryptos. 🦋 want to suggest that TA can also be used for the buying of posts in BBS. Determine price resistance levels for yourself and for the 👫👬 whose posts you often buy.  Base your buying decisions on those levels. If 🦋 want community currency, 🦋 will stop buying before the price resistance level. If 🦋 want to HODL a post, 🦋 will buy it even if it is above the price resistance level. 🦋 Is not rich so 🦋 usually will HODL posts that are not that expensive like some of 🦋 own posts. More details of Price Resistance Levels is hyperlinked. Please note that the price resistance level change with time and depends on how well known the person is. When 🦋 first started posting, the posts cannot get priced more than $1 Later resistance was at $5.38 and then at $9.08 Nowadays the price of  🦋 posts can reach double digits😄🤑4y

💰Crypto Corner 📈

SML Crypto Communities

When 🦋 first joined Degen Bar, 🦋 thought that posts in Degen Bar is restricted to crypto like how posts in Metabbs is restricted to posts about BBS. 🦋 know more about Crypto and TA than the average  Metabbs member. However compared to Degens, 🦋 is a novice.  🦋 Did not dare to write about crypto in a group of Degens or Crypto experts. So the first post by 🦋 in Degen Bar is about CryptoSML 🦋 joked that SML stands for Small Medium Large. CryptoSML is interested in small cap cryptos, medium cap cryptos and in large cap cryptos. In other words, all types of cryptos and so any posts about cryptos would be allowed at Degen Bar. 🦋 wrote posts about SML fish tanks or Crypto communities and posted about the fish tanks in the L community, Banter, the M community, Crypto Villa, and the S sized community with just 1.4K members🦋 posts were about the advantages and disadvantages  of various sized fish tank and what is the ideal sized fish tank. Since Crypto Villa is also under CryptoSML, 🦋 will put a hyperlink to that post here. 🦋 think that Degen Bar members will be interested to know what is  the ideal sized crypto community. But 🦋 will update some info about S sized communities. Degen Bar is smaller than the S community that 🦋 joined and referred to. But Degen Bar far exceeded the performance of that S community. Degen Bar may be S in size but it performs like MHaving much less posts than L means that your posts will not be buried or lost in the mountain of posts in L Your posts are more noticeable in Degen BarThis is a big advantage of posting in Degen Bar. Cheers from 🦋4y

💰Crypto Corner 📈

🦋 Pot Calling The Kettle Black

The lending by China to developing countries has been demonised by Western countries as if China deliberately enslaved the developing countries in debt so that China could take advantage of them. The report below which studied such loans to Sri Lanka and Malaysia found that those countries fell into trouble because of mismanagement and corruption in those countries.  🦋 Is a Malaysian. Malaysia under its then Prime Minister Najib Razak gave contracts to Chinese companies at inflated prices. The government under Najib was unexpectedly toppled in a general election. The new government cancelled some of the contracts awarded by the Najib administration and renegotiated other contracts for lower prices. Before the Najib administration fell some of the projects had already faced difficulties because of the inflated prices. What the Najib administration did to cover those problems was to give more contracts or sell properties to Chinese companies. Thus it was not China taking advantage of the debt that China schemed to ensnare Malaysia. The magnitude of the debt was because of corruption in Malaysia. The new deals that Western countries allege is China taking advantage of Malaysia are efforts by corrupt Malaysians to cover problems caused by their past corrupt practices. When Najib was still in power he removed the Attorney general of Malaysia and senior Anti Corruption officers who were investigating his involvement in the infamous 1MDB case where Malaysia lost billions. He replaced them with cronies that exonerated him. But after his administration was overthrown, Najib was convicted on the 1MDB case. Money is powerful and Najib is trying to make a political comeback as well as appealing his conviction. He could possibly succeed as all the opposition parties with different ideologies had combined to topple the Najib administration. The ideological differences made it difficult for them to remain united and they broke up. Now Najib's party and some other parties willing to back his party for political favours or government positions is back in power. The Edge is a media group who played a significant part in disclosing information on 1MDB. Now let us look at what the Western countries acting through the IMF has done to debtor countries. Substantial parts of new loans or bail outs by the IMF goes to repayment of Western creditors of the debtor countries. Those new loans come with conditions like austerity measures and higher taxation. These conditions cause much hardship to to the citizens of the countries while the old Western creditors get repaid by the fresh loans provided by IMF. These additional loans further ensnare the debtor countries into more debt. They may need another bail out again. Greece is an example of a country that IMF had "helped" several times. Ironically, Greece is a Western country. Western countries could do to other countries including one of their own what they accuse China of doing. A case of a Pot Calling The Kettle Black.🦋4y

💰Crypto Corner 📈

🦋 Keeping 💵 under our mattress

Check out the holders of Degens. You will find so many Degens that have a lot of CC. Keeping a large quantity of CC is like keeping 💵 under the mattress. The 💵 does nothing. Keep enough of your CC to use when you want to cash out.  Invest the rest in 👍 posts that will earn impressions. This way your cashables will grow faster. Investing your CC in 👍 posts is like investing 💵 that was under a mattress into   👍 cryptos or other assets that will give you passive income. Having passive income from 👍 posts you bought will increase your cashables without you having to work so hard for them. 😄🦋🤑4y

💰Crypto Corner 📈

Celebration by Degen Bar: 🦋 say "I'll be there

Degen Bar is having a party to celebrate and CryptoSML says that that the celebrations include a disco. 🦋 has a song for Degens at the disco. The song is also relevant for our next target of Engagement Mining. The song is "I be there"4y

💰Crypto Corner 📈

Use of Swift as a weapon for sanctions

Currently most of cross border payments depend on Swift and is based on the US$. Payments can be made in other currencies but they are converted to US$ for settlement. The use of Swift as a weapon for sanctions will force  sanctioned parties to seek other means to make or receive payments. When sanctions were previously imposed on Russia that affected trade settlement on China - Russia trade, China came out with CIPS in 2015. The volume of transactions handled by CIPS is growing but is still tiny compared with  Swift. CIPS also make use of the messaging services of Swift. CIPS is not in the position to take over from Swift yet. However this latest round of sanctions will force CIPS to be developed further and increase its adoption. China has also introduced its CBDC in the form of a digital yuan. Selected cities in China were used to implement the digital yuan. It was also used in the recently concluded Winter Olympics. The digital yuan has not been implemented throughout the whole of China yet and it is not widely used enough to replace the US$ as the world trade currency. However the use of Swift and US$ as weapons will push the move to the Chinese instruments. The USA will hurt itself in the long run. The article below is taken from the Global Times4y

💰Crypto Corner 📈

🦋 Top 6 Gold Backed Cryptocurrencies for 2022

Below is a list of the top 6 backed Cryptocurrencies for 2022 Concern about the depreciating value of fiat currencies has led people to seek assets that can preserve their purchasing power. Assets like stocks and bonds can go up in absolute value. Unfortunately, their value is denominated in fiat currencies. If the $ price of a stock you own doubled, but the purchasing power of the $ goes down by 150%, you would still have lost purchasing power. Precious metals like gold and silver have traditionally been used as hedges against inflation. The 2 major drawbacks of buying physical are the need to store them securely and the transaction cost. The buy sell spread depends on the type of precious metals and the country you are in. The spread in my country Malaysia, is much higher than in USA which has many many mints producing bars or coins and many established dealers of such products. The dealers in Malaysia buy from overseas dealers and have to pay air freight & insurance. They also incur additional holding cost. The buy sell spread in Malaysia can exceed 20% A gold backed crypto is a crypto is one where the crypto is backed by gold that is held by a custodian. Something like how stable coins like USDT and USDC are backed by the US$. Instead of using the fiat currency US$ for backing, the gold backed crypto is backed by gold. The buying and selling of such cryptos can be done like any other Cryptos on both centralised or decentralised exchanges (CEX'S and DEX'S). Transaction costs are low. There is no need to physically  deliver the gold so there is no freight or delivery costs.  There is also the saving of storage cost and less risk of it being stolen. However it must be emphasized that the gold backed crypto is a derivative based on gold and does not give the holder actual ownership of gold. There is a strong case for holding actual physical gold but 🦋 will leave that for another post.4y

💰Crypto Corner 📈

🦋 Tomochain🦋

Tomochain is an ERC 20 token that is EVM compatible. It was launched in 2017 and the current price is around $1.09 More information about Tomochain is available in Given the above, 🦋 do not think that Tomochain is having an Airdrop now. So 🦋 will stay away from the supposed airdrop in the post below The Airdrop post should be hidden Asap so that Degens will not waste CC buying the post or worse still risk identity theft by participating in the so called Airdrop4y

💰Crypto Corner 📈

🦋 Special Offer to Degens to make huge gains on a pre-launching ICO

🦋 came across the white paper of a new crypto that will be launched. The name of the Crypto is "Scam" If you do not buy Scam, you will miss the opportunity of a lifetime. According to the white paper the price of Scam is expected to 200X within 6 months of its launching. Scam is having a pre-launching ICO at the super duper cheap price of $0.001 per unit of Scam. You will receive a referral code if you buy at least 5,000 units of Scam at the ICO. You will receive free Scam tokens of 10% of the Scam tokens bought  by those who use your referral code.   👬👫 will want to use a referral code because it will also entitle them to get free 10% bonus tokens. So Degens do not miss the opportunity of your lifetime. Buy 5,000 or more of Scam and get your referral code. Click on YouHaveBeenScammed.com for the pre-launching ICO 😜🦋 The above is an example of  The above pre-launching ICO is not what Degens want. What Degens should want is to chill as in4y

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