
How I Made $15,000 / Day as a Fresh College Grad - leinad520
https://hackernoon.com/how-i-made-15-000-day-as-a-fresh-college-grad-74a87a80c253
======
gmiller123456
Looks like it's missing a lot of the details about the "how".

"This was a more complicated operation with tighter spreads, and required a
net long position in crypto"

Based on this, it sounds a lot like gambling, and this experience is survivor
bias.

~~~
leinad520
We were actually bullish on crypto (we do fundamental valuation), and with the
crypto we were already holding, was able to create more with arbitrage

~~~
nradov
It's not possible to do fundamental valuation on crypocurrency. You're just
fooling yourself. But congratulations on timing the market correctly and
identifying an arbitrage opportunity.

~~~
leinad520
Everything can be fundamentally valued, my friend. Even if that valuation
means 0.

Why don't you start here, and come back when you know what you're talking
about :)
[https://multicoin.capital/2017/08/24/rep2017/](https://multicoin.capital/2017/08/24/rep2017/)

~~~
gmiller123456
That's cool. What was your fundamental valuation of concurrency? How did you
do it? How did you know you were correct?

The link you provided is for a prediction market, and not really useful for
fundamental valuation.

~~~
leinad520
The link I provided has a link to a pdf that goes through fundamentally
valuing augur, including with a discounted cash flow model.

Finance lesson 101 is that all assets are ultimately valued by its cash flow,
or as a store of value. P/E, EV/EBITDA, DCFs, etc. You just try to apply those
concepts to crypto, which is what Multicoin does

~~~
nradov
I mean you can apply astrology to predicting the future but that doesn't make
it any more valid than applying those valuation methodologies to
cryptocurrencies. Call it "fundamental" if that makes you happy, but the
reality is you're effectively just picking numbers out of a hat.

~~~
leinad520
They're frameworks to help you... Don't call it fundamental then. Not about to
get in a pointless argument over vernacular

~~~
nradov
Yes just like basic arithmetic also provides a helpful framework for adding
random numbers together.

------
sodafountan
As you mentioned everyone knew about the arbitrage opportunities at that time,
the problem was getting a Korean bank account if I remember correctly. How did
you do that? Did you have connections in Korea? If so, why are you marketing
this article as some sort of self-help piece that anybody can follow?

This just seemed to be all over the place, it started out with a very rare
opportunity that you capitalized on and then went into leaving the corporate
world, starting a startup and blah blah blah but you haven't done anything
substantive. You very clearly claim that you don't know how to code well
enough to run a startup without foreign help, maybe if you take a job in the
industry and get the mentor-ship you clearly need you'd be able to code well
enough to be able to run your startup without delays.

This just all seems like half-assed advice from someone who's probably too
young to be giving it.

No offense OP

~~~
leinad520
So if everybody knew about it, why didn't they do it? If connections in Korea
is all that's needed, I'm sure the opportunity was enticing enough that a
foreigner could find that connection.

But appreciate your opinion! You're right, I have yet to prove myself

~~~
sodafountan
Oh idk, the whole Korean language that most people speak in that country may
have had something to do with it. It's not hard to look at two different
exchanges and see a gap, it was hard to create an account on those exchanges
and execute on the opportunity because it required an understanding of the
language and the laws as well as a physical presence if I remember correctly.

And no you can't just "Find a Connection" lol, you have a lot to learn.

I still don't see how any of those skills translate into a viable business,
maybe you could explain that?

~~~
leinad520
The ability to identify opportunities, sell people on working with you, risk
manage, and pure grunt work (talking with lawyers, etc.), moving fast, are
just a few of the skills required in business that were all applicable here.

Automating trades with python might be more relatable for you. But the point
is, it's not just technical skills like that that "translate to a viable
business."

~~~
sodafountan
Those are fair points but you didn't mention any of that in the article and if
you're trying to posit this as a self-help article and not some sort of
shameless self-promotion piece then why should I care?

Why wasn't this article more about The ability to identify opportunities, sell
people on working with you, risk manage, pure grunt work (talking with
lawyers, etc.), and moving fast? I didn't get any of that from the article.

~~~
leinad520
Who said this was a self-help article? The title is what it says. It's an
interesting story that people found inspirational / fun to read.

And sure, to use your words, it was self-promotion. But why is that bad?

Regardless of your opinion of them as people, Steve Jobs did "shameless"
promotion of iPhones, and Donald Trump did so with his brand. And if people
found the information valuable, that's all that matters!

Not sure where your preconception that this must be a self-help article is
coming from.

------
HillaryBriss
I found this worth reading. It features a number of interesting quotations
from famous people I was not aware of. (e.g. "Competition is for losers")

Usually a story with a title like this is bullshit, but this one does detail
how they guy actually was raking in a load of cash through online arbitrage. I
was surprised.

~~~
leinad520
Thanks man! I appreciate it

------
cmuguythrow
You should have known better than to try and impress HN. You could have made
$1M/day as an infant and people here will still poo-poo it.

I, for one, enjoyed the article. Wondering if you have any recommendations for
discovering opportunities like this in a repeatable/systematic way.

~~~
leinad520
haha, I have learned

I think just having a wide network and staying connected will give you
opportunities

As I mentioned in the article, I think being an entrepreneur is a huge arb.
That crypto fund alumni msgd me after seeing the article and agreed with that
as a big arb

------
asdfjwlkjefsdl
I was expecting mediocrity, but this a good share. Thanks.

