Shaun T. Dy's Business & Economics Perspective Blog

It would be interesting to think about how people got into cryptocurrencies like Bitcoin. I watched the documentary Trust No One: The Hunt for the Crypto King on Netflix, (read the review here ). The documentary really showed this one fact--social media gossipers make poor financial advisors (read here ). The trend to join stuff like the Quadriga-CX scam or how Ruja Ignatova (who's still missing and probably still alive) got a huge following.  BBC News also shows how Ignatova's Bitcoin following was developed by social media gossip : Why have so many people continued to believe in OneCoin, despite all the evidence?  Investors often told us that what drew them in initially was the fear that they would miss out on the next big thing. They'd read, with envy, the stories of people striking gold with Bitcoin and thought OneCoin was a second chance. Many were struck by the personality and persuasiveness of the "visionary" Dr Ruja. Investors might not have understood the

Casino.org I was looking for a new topic to write about. Apparently, my post on Robin Padilla who I didn't vote for but now agree upon (read here ) is catching wind on Facebook . However, I didn't want to resist writing about the cryptocurrency hype. I recall some of my biggest mistakes aside from letting a family friend buy in huge credit or taking offers without asking. Another thing that I could've gotten into is cryptocurrency . The reason is I've been into hype-riding, praise addiction, or afraid of being left out. It didn't matter how much theoretical information   I learned if my  temperament is bad. As Warren Edward Buffet said the following: The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd. The issue is people tend to take pleasure in going against the crowd or for the crowd. I've experienced both of them and who hasn't?

I ended up preferring to do index funds such as AXA's Chinese Tycoon Fund (worth PHP 3,000.2 per month which did a good job in curbing my extravagant lifestyle), I decided to buy some more index funds on GInvest to extend the inventory (powered by Seedbox and ATRAM, both reliable and also awarded sources), and any other indirect way. I feel like my attention deficit disorder (ADD) can be a serious disadvantage if I decide to directly trade stocks. However, with some studies, I could do some minimal stock trading as to reduce the risk. I did get into the Retail Treasury Bond (RTB) and the Long Term Negotiable Certificate of Deposit (LTNCD) as a start due to a lower risk appetite. My appetite is moderately risky so I decided to use AXA and GInvest to help regulate it.  I remembered being told someone (never knew the person) borrowed PHP 1 Million (or I think even higher) to invest in the stock market. The person may have decided to put the PHP 1 Million in stocks hoping to get rich q

llustration: Daniel Guerrero Fernandez for Bloomberg Businessweek I remembered some time ago when I wrote about Axie Infinity . One article I wrote about why I never bothered to enter the Axie Infinity arena was the poor security . I compared it to a cockfighting game--a game where so few win and so many lose. A previous article I wrote was all about why play-to-earn games are too good to be true . What's not too surprising is the collapse of Axie Infinity . It's pretty much too good to be true. A casual gamer can testify that they buy online passes not to earn but to play . It's like buying a Playstation Plus card to play online for an entire year. You buy games out of the money you earn. You don't earn money out of gaming.  What truly never surprised me was how Axie Infinity crashed. It promised riches but onoy resulted to disaster. I even wrote that there could be an ironic moment somebody says that AXA is a scam while playing Axie Infinity thinking that it's an

I haven't returned to writing about Axie Infinity because I didn't get into it. I may have been foolish enough to get scammed by a family friend. However, I started to think that, "If it's too good to be true then don't buy it!" I always wanted instant gratification out of greed and impatience. I think two reasons why investors get into bad deals are because of greed and impatience--wanting the money now. It's also why some people join the drug cartels. Right now, Axie Infinity may have been so last 2018 (and I keep getting a lot of irritating play-to-earn ads on the Internet) but it doesn't mean it's going to be that sustainable.  On March 30, 2022, CNBC also reported on this incident where more than USD 600 million was stolen from the makers of Axie Infinity : The makers of one of the most popular blockchain-based online games said Tuesday that hackers were able to steal assets worth about $625 million from the gaming company and its players. The

Newsweek I was looking for yet another exciting topic to write about. It turns out that I might as well deal with yet another reason why I'm not entering into the creepy world of cryptocurrency. Now, a new documentary on Netflix known as Trust No One: Hunt for the Crypto King features yet another scam. You may have heard of the crypto-queen from Bulgaria, Ruja Ignatova, who's currently in hiding. Right now, Ignatova is just missing. In the case of the Crypto-King, Gerald Cotten, it was reported that he died last December 9, 2018. However, some people assume that he might have faked his death in India, which for some, didn't make sense. Even his widow had testified that she was with him when he died. Though, events like the funeral where the coffin wasn't opened for public viewing or other stuff may suggest that he faked his death. The documentary did reveal how a scammer faked suicide and later turned himself in.  Why did people enter into deals with Quadriga-CX? A Chin

I remembered the time when I started to do some monetary investments (bonds, mutual funds), got scammed by a bad customer who hasn't paid me back until now, and how the journey of personal finance is no easy task. I feel like it's time to talk about another Ponzi scheme called cryptocurrency. First, we need to define it before I will state why I don't even intend to invest in it.   Cryptocurrency is defined by Investopedia as follows: A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation . A clear lack of regulation and extreme volatility make it very dangero