A case study against Doge – or any meme coin

https://www.forbes.com/advisor/investing/cryptocurrency/what-is-dogecoin/

This article pops up in a very appropriate time when DOGE starts rallying again due to the side effect of Elon Musk buying Twitter. I have never been a fan of meme coins, and I don’t think I will ever be, even though they have experienced crazy pumps that are rare even in the crazy world of cryptocurrency.

I totally agree with the author of the article. It’s ok to put down a token sum in order to understand the system better. It’s more to get you in, and give you some skins in the game, to inspire and spur you to start. But anything more than that will require some serious thinking on your part.

It’s not uncommon to see pump and dump in crypto space, and the market is still largely controlled by the whales and FOMO nowadays. So unless you are a whale, you are at the mercy of unpredictability, and just a whale dump will result in unexpected and significant loss for you. It has happened before and it will happen again (look back to SHIB a few months ago). And it is even more frequent and severe for those cryptos with little use case and rely heavily on sentiments, like meme coins and specific game coins.

A vast, complex and strong ecosystem with a healthy amount of TVL can provide support for a coin or token when the market swings. Without it, anything can happen. And with that belief, I am done with meme coins. I had fun with them for a while, but then the fun stopped, and it was time to say goodbye 😁

Factfulness – A beautiful book full of positivity

It was the first book I’ve read in the year 2022, and it’s totally worth my time. A really good start for my reading journey this year. The book was full of positivity, as the main focus of the author was to spread the message of a better world that we are living in.

The overarching theme throughout the book is that the world we live in is better than we perceive, and people’s lives are still improving everyday, despite us being aware of the slow and incremental change. That is very encouraging, especially given the fact that we are being bombarded on a daily basis by the media with all the shocking and tragic world stories that seemed to portray a world that is getting worse and more dangerous. Fortunately, that is directly opposite to the truth, and by showing the data and facts, the author set out on a journey to change our perception, one person at a time.

The author also outlined 10 misleading instincts that prevent a lot of people from having a fact-based worldview, and how to combat them with facts and data. It’s really astounding to discover that human are worse than chimpanzees by a mile when it comes to factual knowledge test, and it’s even more shocking to find out that, the more educated the group is, the worse they fared in the test. Probably it is the information sources that those well educated people have access to and what they are being told. It clearly shows that people may just be educated with the wrong knowledge, and that the media rarely tell objective and credible news.

The most interesting and thought provoking myth that was debunked by the author is the gap instinct. It’s a deep rooted concept that has been ingrained into us since we were young. We always think of the world as us vs them, with a vacuum in between. Human vs alien. Hero vs villain. Developed vs developing countries. And that narrow frame of mind has led to many other instincts and misunderstandings mentioned in the book. The suggested breakdown of the world into 4 income levels is a brilliant concept. It reframes the way we think about the world, reduces the gap between countries and realigns our generalizations in a better way (after all, we still need a way to generalize and categorize things around us, due to the vast number of individuals that go far beyond our ability to comprehend and assess them all at one go). Besides, correcting our gap instinct also has an impact on our fear instinct, straight line instinct, size instinct and destiny instinct, so if you have time only for one chapter, that is the one you should read, in order to get the most out of this amazing book (of course you are welcome to devour it all).

By now, if you still have a nagging feeling that this book is all well and good, but it has nothing to do with you, and the concepts are more for the people at the top, well, nothing is further from the truth. Some of the instincts there are as applicable to us as they are to heads honchos. For example, the news tend to be heading towards negativity and shock factor, so keep that in mind when reading the news. Good news is hardly news at all, and the world is much safer now in spite of all the shocking news all around us. And we should look at things from different perspectives and seek different opinions and viewpoints in order to have a more well rounded view of events that happen around us, and thereby making more informed decisions. Another applicable advice is to avoid blaming others when things don’t go according to plan. Instead, look into the system and see what to fix the system in order to avoid such issue in the future. And remember, most of the deadlines are negotiable and not set in stone, so take ample time to consider before making decision, and don’t get yourself pushed into making knee jerk reaction. Don’t procrastinate, but also don’t blindly jump into action without enough information. Those are all practical advices that can improve our lives everyday.

Happy New Year 2022

So, 2021 has left and 2022 has come, and here is the customary new year post where I look back at the old year and look forward to the new year.

Let’s start with the old year first. While it seemed to be another lost year, and an extension of a disappointing year, in fact it was really a memorable year for us, which we managed to achieve quite a few big goals individually and as a family.

1. Covid-19 vaccination for the adults

While the pandemic still raged on, at least we had an additional weapon to fight against it: The vaccines. And even though many have doubted them, they have really helped improve the situation. And so once it was our turn, we quickly booked the slots, and to be honest, we felt much better and more assured to carry on with our lives once we were vaccinated. The only concern we had was that our kids were still not eligible and therefore we still had to limit our time out to reduce the risk of carrying back the virus to them.

P.S. Right at the doorstep of the new year, we got the booster shots and my elder kid had the first shot, so we are feeling much more relieved right now. Thank God the side effects were not severe for us, we only got a bit of headache, pain and tiredness, but nothing more serious and back to normal 2 days after the shots.

2. Passed driving test and got a car

Although I was not the brightest student when it came to driving, I was glad that I passed, on my 4th attempt (so embarrassing 🙈). We quickly got a car shortly after that, despite the fact that cars in Singapore cost an arm and a leg. Well, at least we started with an affordable used Vezel, and we have been making full use of it. In fact, I was very grateful that we got a car when we needed it the most, with the fear of public transport in the time of the pandemic and our increasing need to travel around in Singapore. After almost one year of driving, I cannot say I am perfect, but I believe I have improved quite a lot, and I start enjoying it more and more these days.

3. Staycation, staycation, staycation

We have never stayed in Singapore hotels so frequently before, but with the borders closing tight, that is the only option for family relaxation. And so we started exploring different hotels in this tiny island and what they have to offer, and I must say I was quite impressed and surprised by some of them, both in terms of the high level of service and the quality and variety of food and activities on offer. Now at least if the situation is still bad, we have something to fall back on, and we know exactly which one to book for our next block of leave clearance.

4. Competitions, Olympiads and GEP

Last year was a remarkable year for my son. He started P3, with exams and tests and grades starting to be captured in record book. And thank goodness he has been doing quite ok so far, even managed to get into the top 25% for his level. And he started getting exposed to more competitions outside of school. He participated with the Maths Olympiad, and even got 2 Bronze medals, which was totally unexpected for us. And he was sent to the Robotics competition, even managing to get into the final round. And the best news came at the end of the year, when he passed the GEP selection exams, without any preparation at all, sending us into a frenzy with all the procedures to select and switch school, and their cascading impact on logistics, housing, transportation and stuff. But it was a really pleasant surprise, and it would make 2022 and exciting year for us as a family. I am really proud of him, even though we seldom praised him, and most of the time scolded him for his carelessness, but he really surpassed all our expectations.

5. Crypto, blockchain and professional advancement

2021 was an exceptional year for crypto, with Bitcoin getting more mainstream, and the crypto market cap reaching all time high, with some specific assets booming in values. All the while, I have been a crypto skeptic, choosing to stand on the sideline and sticking to my traditional investments. However, since I worked for a crypto company, building the next level of crypto exchange, I had no choice but to get my feet wet and my hands dirty, in order to learn in greater depth about the technology and the industry as a whole, and so I opened my first crypto trading account. It has been an eye opener for me, and although I have not earned much, I would say I have learnt a lot and I am much more confident in discussing about the space, and that also help me compare and contrast, and gain a newfound respect of the amazing product that we have toiled over for almost 2 years. And our efforts have finally paid off. We are now live @ bullish.com And though the path ahead is still challenging, at least we have achieved what we set out to do, and we hang on till the end, not giving up or dropping off no matter how frustrating the journey has been.

And so, 5 points to wrap up an incredible year 2021. A toast for a job well done, and looking forward to a more amazing year ahead. Onwards and upwards, 2022!

Money Heist Part 1 Episode 3 – Tension Runs High

As mentioned in my previous post, I am slowly rewatching Money Heist, and I have just finished the third episode. I don’t know when I can finish, but this rewatching exercise gives me more insights and draws more lessons in life and work than the first pass. Let’s get going.

After the stage is set, now we see tension run high as the group started getting to work inside the Mint. In the language of project management, this is the start of project execution, after the project planning phase. And it’s really when tension starts increasing ans people start deviating from plan. There comes the first lesson: Project plan tends to fail, and when it does, it’s important for the project manager to stay close to the team and work together to pivot. Tokyo was right. The Professor was too far away to be effectively managing his project, and without his close attention, the plan started falling apart as issues occurred that was not in the plan and the team started improvising solutions. So, be with your team and work closely with them so that you can resolve arising issues promptly and reasonably.

Another lesson from the episode is: Keep your emotion out of business. As a famous movie character once said: “It’s nothing personal. It’s just business.”, mixing up business and personal life can be detrimental, especially in a highly charged project like a heist. The Professor was well aware of that pitfall, so he went to great lengths to prevent the team members from getting personnally connected or attached, like referring to them by nicknames and not real names. He had a reason to do so. Personal emotion can cloud your judgment and when you take things too personal, most of the time you cannot think straight anymore. However, it’s easier said than done. You put a group of young people in close proximity for a couple of months, and sparks likely will fly. And so it did. That’s why companies normally try to avoid having family members working in the same team.

Squid Game – A thrilling series with lots of meaning

By now, if you still haven’t heard anything about Squid Game, you must have been a hermit crab, or you must have been hiding under a rock somewhere. The thrilling series has been conquering the top position in Netflix most watched lists all over the world, and spawning countless related products, memes and quotes. It’s on track to be the most watched series on Netflix ever. And audience are starting to speculate about the second season, even though the first one was released only less than 1 month ago.

The show is rated M18, due to its violent nature, but instead of being a niche one for a group of viewers only, it is still attracting more audience everyday. I myself was curious when I saw the poster in the coming soon section of my Netflix app, so I added it to watchlist, but I did not immediately jump into it when it was available, due to the lack of trailer and the fact that the description and some photos from the series looked a bit dubious to me. But the moment I started watching, I got hooked right from the first episode. With only 9 episodes the story was unveiled quickly and the events were fast paced, unlike some other Korean dramas.

The concept of the series is not new. It’s the kind of survival game, where players fight, and even kill, others to live. We first saw it in the global phenomenon called Hunger Games. However, this series is quite different, in the sense that the producers focus on the life stories of the players, and their emotions throughout the course of the game, from their joining day to their demise. It’s not just senseless massacre, or even the games themselves, that makes this series a hit. It’s the rollercoaster emotions of the players, big and small, and the touching story behind each character. The series devotes enough time to each character so that we can understand the reason why they join the game, and build connection with them, so that when they leaf the game, their death sparked in us some kind of feeling.

What I love most about this series is the meaning, stories and sacrifices. All the players joined the game without any idea what would happen to them. However, when reality set in, and they knew the deaths were real, they quickly adapted, found a way to stay alive, and even saved others’ lives. That ability to collaborate and adapt is what helped human evolve from caves to the most prominent species in the world. And it is proven to be vital skill to survive the rest of the game as well.

Another spotlight of the series is how people deal with each other when they need to do whatever it takes to survive. Loyalty is non existent. Allies are created just temporarily, to get through one game at a time. And all the ugly things about human beings surface. They cheat, lie and backstab in order to get through, even willing to sacrifice others, step on others, or hide behind corpses just to get to the next game. And as one player said, nobody was really innocent, and everyone had blood on their hands, the further they proceed in the game, the thicker the blood trail they left behind them. Unlike the first time when they entered the game without any knowledge or expectation, those who decided to come back knew full well what they signed up for and what was at stake, and willing to risk their lives for the remote chance of earning billions and having another restart of life outside. The situation is really kill or be killed, and for those players, it has robbed them of their humanities, only left the human instinct and the primal, animal like behaviours. It’s fair to say that, the further they proceed, the less human they become.

However, right in the center of that survival madness, where there seemed to be no more kindness, only brutality and death, kindness blossomed the shone brightly. The main character was hardly the smartest or strongest player, but what set him apart from others was that he never failed to show kindness, no matter what the situation and how doing so put him at the disadvantage, and might even endanger his own life. He cared about the old man sincerely, and he was not angry with his childhood friend even though that guy sold him short. He took in his team those weaker players that nobody else accepted, and he willingly forgave people no matter how wrong they were to him. That set him apart, and in return, he received help, and kindness was given back to him, mostly in critical moments when he was between life and death. That reminds me of what Cinderella famously said: “Have courage, and be kind”. Be kind to others, and one day others will pay back to you.

So, if you have not watched Squid Game yet, I suggest you should. It’s short, thrilling and hugely entertaining. It will give you a good time, and it may even change the way you perceive life and its value and meaning. And if you have watched it, what do you think about the things I wrote above?

Money Heist rewatch and lessons – Part 1 episode 1&2

So, as a preparation for the upcoming new season of Money Heist, I decided to start rewatching the series from the start. It was fun, even though I am quite sure I will not finish all of them before the new season rolls in, judging from my snail pace of progressing at the moment. And along the way, I gathered some lessons on work, life and management, so not really a wasted effort in the end.

Part 1 episode 1:

1. Don’t mix business with personal, and leave your emotions outside the door. It’s never a good idea to mix work and life, especially when you are embarking on an important, high stake, crucial mission. Keep a cool head and avoid being emotional. That way, even when situation turns bad, you will have higher chance of finding a solution. Otherwise, you will either panic, or be overwhelmed by anger, you reasoning will be clouded, and you will likely make knee jerk reactions or stupid decisions (Tokyo shooting at the police is a case in point).

2. Have a plan and devote sufficient time and efforts to understand it thoroughly. The more important the project, the more detailed the plan should be. And the plan should contain not only the happy path but also the failed scenarios and contingency actions. Otherwise, that plan is deemed for failure, since it’s unlikely for the happy path to happen in real life. And the project team should study the plan and understand it properly, especially their own parts, but also the overall direction of the project. That way, they may be more ready to change course when things go wrong and improvisation is needed. It’s like you need to learn to jump before you can fly.

3. Be flexible and adapt the plan based on the situation. As Mike Tyson famously said, everyone has a perfect plan until he is punched on his mouth, a lot of plans crumble when they are put through the acid test of reality. That’s why it’s really important for the team to be flexible and ready to adapt it. It may sound contradicting with the point above, but it is actually complementing that one indeed.

4. The plan maker should be as close to the action as possible. The Professor was having distant and not continuous connection with the team, so he could not get hold of the situation in time. That made it difficult for him to adjust the plan accordingly. Fortunately it did not turn out too badly (both Rio and the cops did not die in the shootout), but it could have been much worse. That’s why Agile project management strongly advocates all the team members to work closely together on a daily basis instead of a traditional top down approach of project planning.

5. Avoid playing the blame game. It’s good to perform a retrospective and identify what went wrong and how to improve in the future, but it’s not helpful to blame each other when things did not work according to the plan. Instead, effort should be spent on remediating the issue at hand. Also, when the situation deviates from the plan, it’s more helpful to identify the issue and work to bring it back under control. The Professor did it, in a calm manner, and the team was not torn apart when Tokyo made her mistake, and the plan continued rolling.

Part 1 episode 2:

Episode 2 was lighter than episode 1 in terms of implications. Instead, it focuseed more on actions and setting the stage, introducing the main actors at play on the opposite side of the chess game. We got the first interaction between The Professor and Raquel, the chief hostage negotiator, and there lied the lessons from the episode:

1. Always keep calm when negotiating. Things almost always turn bad when people start shouting in negotiations. Your negotiator will try to provoke you and manipulate you, to make you lose your calm and expose your weakness. That’s why it’s crucial to stay calm and reason logically. Besides, your negotiator may also try to distract you with seemingly random questions, like what the weather like or what uou wear to work, or just introductions and nonsense pleasantry, so stay on course and focus on what you want to get out from the negotiation. Write down the objectives if you want, and tick them off everytime you achieve one. That will keep you grounded throughout the whole process.

2. Know your opponents, and also the key stakeholders of the game. The reason the Professor managed to win the first battle was he knew who he had at his custody: The lamb. That one key component managed to tip the scale in his favour, and buy him much more time to execute his plan. Without her, the plan would have failed miserably. So, identifying key stakeholders and getting their buy in is one of the most critical part of project planning and execution. That will surely increase the chance of success significantly.

And there they are, the major lessons that I learnt from the first 2 episodes of Money Heist. Not bad for a show that is meant for entertainment, isn’t it? And I believe there are more. So come back again soon, or go ahead and rewatch, and maybe you can find out some lessons for yourself. Happy watching.

Happy 56th Birthday, Singapore

With one day left to National Day and #SG56, I am very happy to see the government making a brave move to start opening up the economy in a bid towards becoming Covid resilient, and accept the fact that it’s unrealistic and impossible to keep closing the country up in order to keep infection to zero. It’s even more encouraging that they even decided to move the opening timeline forward, not backward like what happened in past restrictions. That gives us some hope of a new normal that is really coming soon, and allows us to look forward to a better time ahead as we celebrate Singapore’s 56th birthday, in the most different way since the day we became independent.

Today is also the end of the Olympics #tokyo2020. Everyone has been holding breath and fearing the worst, of a major spreader event that brought us backwards in our fight against #covid19. Fortunately the worst scenario did not happen, and Japan managed to still organize the major event, albeit at great financial losses to the country that is still struggling to revive the idle economy and fighting the pandemic. We all must thank Japan and the Japanese for their great sacrifices. Like what was shown on the screen at the end of the closing ceremony, Arigato Tokyo. Arigato Japan. You have done the impossible. We take our hats off to you. And good luck for the fight, you will prevail, that I am sure.

Happy Birthday Singapore 🇸🇬 May you weather this storm and come back stronger. #economy #covid #singapore

Eventful July

July was a special month for me.

First of all, I was certified to be Covid-19 fully vaccinated, after receiving my 2nd dose and a waiting period of 2 weeks for my immunity to build up. It’s not a 100% guarantee against getting Covid-19, but at least I have done my part in reducing the chance of infection, and with good practice of safe distancing, wearing mask and washing hands frequently, I believe that will be a great step forward in ensuring the safety for myself and my family, so I would proudly say, I am relief. And I strongly urge everyone to do the same, so that we can soon at least get back to some sense of normalcy, for our lives have been upended for too long and we have lost too many precious moments with our loved ones already.

My second important thing happening in July was the Pilot launch of Bullish exchange. For the first time ever, we kicked open our door, the door we had guarded very carefully and religiously, and welcome the world. We invited a selected group of investors, traders and crypto enthusiasts to come and get a first hand experience of our product, which we have dedicated countless hours to building out from scratch, our very brainchild which we are absolutely proud of. 

It was exciting and at the same time nerve wracking to see it making first public appearance. Like parents sending kids to school the first day. Thank God everything was quite smooth. There were some teething problems, but the core features worked fine. Our giant effort finally paid off.

Now it will be even busier time. There are still developments in the work, while at the same time we need to guard our child as he takes the first steps in this new world. There will be more interruptions and last minute actions to take. But we will pull through, that I have no doubt. We have a great team with hugely talented people, and we will do it. 

Go Boldly. Go Bullish. Go Live.

1st July

Hello July. So we are officially entering the 2nd half of 2021. While 2020 was really a lost year, 2021 is so far only slightly, not significantly, better. Travel restrictions are still in place. Borders are still tightly shut. Within the country, there are still a lot of restrictions and prohibitive measures that really impact the normal way of life. As someone said, Covid-19 is still robbing us of our freedom and livelihood. Families are still separated. Jobs are still lost. Businesses are still closing down. When will this end? Only time can tell.

Today, the Health Minister announced publicly that we would likely be able to relax further on July 12th, then establishe a new normal by September, and leisure travel could resume partially by year end. That sounds quite promising, but from past experience, all it takes to throw that plan into whack is simply a major spike in the number of cases. It happened before, and there is no guarantee it won’t happen again. That’s why I will not count the bucks until the day comes and we really are released from this mess. Let’s see.

First jab of Covid-19 vaccination

This afternoon, I had my first jab of Covid-19 vaccine, and it was a really smooth experience. Having eagerly registered for the shots right when I was eligible, I managed to get a relatively early slot, at my preferred timing right after I was done with my normal working day. And since I was not so fussy which vaccine to take (Pfizer or Moderna), I did not have to wait too long, and could register for the shot at the nearest vaccination centre to my place, which was within walking distance, or in my case, cycling distance. So there I came, and I was utterly impressed with the efficiency of the whole operation.

It took less than 10 minutes from the time I reached the center to the time the last drop of vaccine was pumped into my arm. There were many registration counters, so I only waited a few minutes at the holding area outside before being whizzed through to one of the counter, where the lady checked my IC and then asked me questions about my allergic history. She was kind and very thorough, making sure I understood every question completely before answering, and tried to explain in more layman terms when she found me struggling to comprehend some of the technical terms that she used in her questions. After I cleared that stage and got my vaccination queue number, I was almost instantly directed to one of the vaccination booth, where a young man checked my queue card and explained briefly to me about the vaccine and the potential side effects, before asking me which side I would want to get the shot. Being left handed, I asked him to jab my right arm, which he readily obliged, and even helped turn my chair. I rolled up my sleeve, looked away (I was a bit scared of seeing the needle, I admit), took a deep breath as per his instruction, and before I knew it, it was done. Not really painful at all, and very very fast. I was impressed. And I was out of the booth, with the full dose of Covid-19 vaccine in my body, heading towards the monitoring area, where I had to spend 30 minutes just in case I got some vaccination shock or severe immediate reaction. It was quite dull, with a TV showing the vaccination promotion ad and some other government health campaign ads on infinite loop, and a radio playing at such low volume that I could barely catch what the DJ was talking about. At least, there was air conditioner, and I brought my book along, so the 30 minutes waiting time flew by in a flash, and they called my name to come and receive the vaccination card. There another young guy explained to me again about the potential side effects, and what I should be doing in that case, before discharging me and reminding me to come back again for my second shot. Wow, they really did not leave anything to chance, and made sure the message was hammered to my brain, no matter how much distracted or dense I could possibly be 😀 I guess many people must have been very concerned about those side effects. To be honest, I did not think about them much, and I really feel it’s the right thing to do, for myself, my family, and my community as a whole.

That was it. Less than one hour end to end. I was very surprised as I thought there would be a lot of people and the queue would be crazily long. There was barely no queue at all. I don’t know if I will have any side effect in the next day or 2, I will deal with it as it comes. For the time being, I feel good, at least good enough to cycle back home, eat dinner with my family, and watch an evening program on TV with my kids. Towards the end of the evening, I could feel some numbness and a little bit sore around the injection area, but nothing unbearable or even uncomfortable. Just like what you feel after you lift weight in the gym for a while. I am ok.

COVID-19-Vaccine-Infographic

So there I was, back to my normal life, feeling a bit more secure, a little safer, and very relieved. I can’t wait for the second shot, so that it will be complete. Until then, I will just be careful as I have always been, keeping my guard up, and avoiding going outside unless absolutely necessary. Hopefully the scientists can come out with a vaccine for small kids soon, so that my whole family can be protected, and we will be one more step ahead in our journey back to normal life, or should I say, the new normal, whatever it may look like 😛

Last but not least, I just want to say that I am deeply grateful. Thank you, Singapore, you really care for us. While other countries are still struggling to find the sources to import vaccines to fight their new waves of infections, or having to contend with whatever type they can get their hands on, regardless of efficacy or potential side effects, thanks to the government’s foresight, decisive actions and constant follow up, there is enough supply for everyone eligible, and we don’t have to wait too long, and we got the 2 vaccines that are recognised worldwide to be the best and most effective against Covid-19 virus. That’s really more than enough reason to be thankful for.

So that’s it. My first dose went in smoothly, no big deal so far. The only thing that bothers me a little is that, I need to stop exercising for one week, to reduce the risk of getting some complications. Luckily, it coincides with the kids’ school holiday period, which also means I have little motivation to wake up early for my usual morning run before the start of my working day, so not much is lost anyway. And right when the week is over, the school will also start, and normal routine will be back again.

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