Saturday, January 22, 2022

Trading in bitcoin

In this post, I share the price movement of bitcoin during the past three months and my experience in trading in the bitcoin future.

Wisdom of the Crowd - New Issues

1. Should Singapore have a strategy to get locals to do work that are now done by foreigners?
2. Singapore allows employers to recruit foreigners and apply for a work pass

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Key indicators of the covid situation

 It is difficult to follow the MOH data on covid as one important indicator is missing.

Why the scams get out of control

My friend said - Our police seems quite helpless and unable to cope (with the scams). Isn’t it a disgrace? It’s time they revamp the police investigative and forensic abilities. There is a need to catch up with the sophistication of the new age criminals.

TKL gives his opinion:

WOTC - Identify a person

 Wisdom of the Crowd: 89% of the respondents said that the best way to identify a person is to use the NRIC (not the mobilephone).

Friday, January 21, 2022


 Wisdom of the Crowd: 53% of the respondents said that NRIC should be kept private and used only by the government.

Thursday, January 20, 2022

Facing the challenges of large population increase

 I expect that the PAP government will return to its earlier strategy of increasing the population to 6.9 million and maybe to 10 million.

This will impose challenges.
I share my views.

WOTC - CareShield

 Wisdom of the Crowd: 46% said that CareShield should be funded by taxation. 23% said that it should be funded by individual premium, but be voluntary.

 It is a bad precedent for OCBC Bank to pay full compensation to their customers who were cheated by the fraudulent transfers by scammers.

Wednesday, January 19, 2022

WOTC - CPF and staff benefits

 Wisdom of the Crowd: 56% of the respondents said that all workers, including casual and part time workers, should be given CPF and staff benefits.

Tuesday, January 18, 2022

Digital signature

 We need to allow a person to register and use a digital signature. Here is how it can work.

Reduce working hours by 20%

A country can create additional jobs by reducing the regular working hours. Singapore may have to adopt this approach some time in the future.

What will be the future store of value?,-USD-or-gold?&View=A

Wisdom of the Crowd - New Issues

1. Will China be able to increase its birth rate within the next five years?
2. Can China be self sufficient?

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WOTC - Increase GST

 Wisdom of the Crowd: 70% of the respondents said that Singapore should not increase GST. Instead, it should cut down on wasteful spending.

Why bitcoin will fail.

Sunday, January 16, 2022

Corporatization of NTUC Income

 I have sent a notice to the secretary that I wish to raise the following questions on the corporatization of NTUC Income.

1. After the corporatization, will the bonuses of participating policies issued in the past when NTUC Income was a cooperative, be negatively affected by the change in the cooperative status of NTUC Income? If these bonuses will not be negatively impacted, how will the board ensure that this goal is achieved?
2. Will the board form an oversight committee, composed of members elected by the participating policyholders, who has the duty of ensuring that the bonuses distributed on these participating policies are not negatively impacted, for example, by diverting the surplus to pay higher dividends on the share capital?

Wisdom of the Crowd - New Issues

 Wisdom of the Crowd - New Issues

1. How do you rate the education system in Singapore.
2. How can the bank stop scammers from making large fraudulent withdrawals?

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Beef up the police to deal with crimes

Some people were shocked that 470 customers of OCBC bank were scammed and fraudulent transfers were made from their compromised bank accounts.

They asked - why did the authority not act earlier to stop the scam?

I give my view on this issue, i.e. the lack of action.

How to deal with scammers

Maria May said.

I wondered why we never learn what we preach, that is, faster, cheaper and better?

Do not be dismissive

Do not be arrogant in making judgment

 Do not make judgment based on incomplete facts.

Do not assume that what you know is correct, and that other people are not aware of what is happening.

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