Guys, standard disclaimer: I’m a bloody idiot. Writing this from my bedroom because I cannot face my wife. If you are thinking of “investing” based on what your secondary school friend or some “expert” uncle tells you at the coffee shop, PLEASE WAKE UP YOUR IDEA.
Last year, my friend (let’s call him Xiao Ming) kept flexing his “gains” on Telegram. Every day send screenshot, every day talk about “To the Moon.” He told me this one coin, LUNA-tic Safe-Inu (don’t ask), was “guaranteed” by some big VC and definitely going to hit $1 by National Day. He say he heard from a “lobang” who knows the developer.
Me, like a typical kiasu Singaporean, don’t want to lose out. I took my year-end bonus plus some “emergency” savings—close to $40k—and dumped everything in. I didn’t even read the Whitepaper. My “research” was just 15 minutes of YouTube and Xiao Ming saying “Trust me, bro.”
Fast forward to last night. The coin didn’t go to the moon. It went to the Jurong Hill dustbin. 99.9% drop. My $40k is now worth $12.50. Cannot even buy a 2-piece KFC meal with cheese fries.
The worst part? When I called Xiao Ming, he blocked me. Turns out he was getting a referral commission for every “sucker” he brought in.
Moral of the story: Singaporeans love to talk big. Everyone is a “Financial Consultant” until the market crashes. Don’t be like me, thinking there’s a shortcut to being a high-SES flyer. If it sounds too good to be true, it’s probably a scam.
Now I have to go find a side hustle to pay back my own life. CCB. Learn from my mistake, don’t buy the hype.
TL;DR: Listen to hearsay, now my bank account is smaller than a prawn cracker. Stay safe, don’t be a sheep.