0:00 [Music] welcome back to another amazing episode of the careful boys well we are currently off the record hey we're wrecked boys today huh hey that should be our first of merch yeah right boys you know what i love is that when the whole luna ████ came we're talking about ████ tara luna guys we're finally gonna do let's go when that ████ thing came on okay so steve isn't here every ████ week right um i no i was hiding that's exactly my point here i didn't want to face it simply in fear he didn't want to come out and tell nobody no i bro your excuse is because you're supposed to ████ be here dude yeah i was in mexico for a wedding and i told you guys months prior that it sounds like ████ you were hiding hiding good we were all hiding so so i blame
0:51 bart because uh i think um he he forgot that but that week it was um it was it just so happened that it was just us and i was like man we can't have a ████ tara luna ████ off the record without stephen anthony here like all good bro you know and then i was like but you know what we still gotta do it yeah of course so we did it with eric because eric is great he knows a lot about crypto he actually broke it down very fairly and what in a way that people could digest if they had no idea about crypto and i think that's why i like eric a lot he's great i learned a lot from that but i think what people really wanted to know is not tara luna the news because they could get that anywhere they wanted to know what the ████ happened at that moment from you guys because i told my story yeah they want to know what happened to steve they don't know how deep i was in it i think oh they knew they were talking i don't
1:41 think they do though no people don't know people don't know but but uh so the real thing for me well it's a couple things i've been crypto since 2013 so and i've been wrecking crypto before i admit i've turned a very small amount of money into a million dollars twice uh and then lost it all so i'll just have to do it again twice but but third time's a charm three times the charm you know but but no really honestly the the thing about this stuff for me is like i love the space so like the idea that like i'm gonna get discouraged by like what happened to luna and just blame you know all blockchain and go like oh ████ crypto or anything that's never gonna be in the cards for me i love this stuff and actually you were actually amazing my friend um he texts me day of when all this is going down and he's like i know he's like i know you he's like i know what you're doing right now he's like
2:31 you're sitting there and you're working on the next thing and this is before by the way i even got i even got to really talk about any of this stuff because i've talked about this on i mean nikki's podcast and stuff but like you were you were letting me know you're like dude like this was an attack on on ust and on luna and he's like i know that what you're doing right now is um is going to work which i really appreciate it by the way i really appreciate that ryan's the best dude he's a very slept on gym you know what you know what hannah told me i appreciated that she said that all of our friendships are very strong because she goes like most people these this these incidents uh separate families and friends there's always someone that brings someone in to an investment or some idea they lose money and it just breaks apart friendships and families constantly and i'm all like the thing that you do not
3:21 know is we've all been through this already once with steve and we already told steve you son of a ████ you made me lose all this money and then we did it again i got it out of your system we got it out of our system that's the meanwhile we still we just don't have other friends so we're kind of stuck we're stuck with who we are stuck but that's the meme right it's like everyone thinks it's like you guys are looking at me and going ████ you or whatever and it's like dude if anything i mean well look it was a ride right it was a ride and we you know you de-risked id risk which means i pulled out money yeah i de-risked as well because i was like dude i've been through this ████ before and when putin started shooting guns off i was like i gotta get some of this ████ out so i sold like 2000 luna in february because i was just too scared of the macro right the macro environment but man i wish i did more right that's that's always gonna hit you
4:12 a little bit in the back of your head you're gonna be like man i wish i i wish i'd de-risk way more that would've been sick but the but the real reason why i'm into crypto is the movement i love what it does right what it says you can't just print your money into oblivion you can't ████ over people who are at the bottom of the chain because you know you want to over print the money supply like zimbabwe or like what's happening in the united states right now like you know but here it's a little bit different though too because they're printing so much ████ money and they're hanging out the wall street and then most of the people at home get nothing and where they should have gotten at least 23 000 each if they just took all that money gave it to the people it would have been very beneficial to all of us while they ████ the economy over later with inflation but instead they give you a paltry sum they bail out all these places it's 2000 all over again but so that's what frustrated me got me into
5:03 crypto initially anyway so the movement doesn't change right the fight goes on but it sucks because luna was like ████ dude we were so slept on the whole run and then now everyone is talking about luna everyone your grandma knows the news went beyond like when luna had success it was the highest uh margin like jump in in crypto of 2021 even close yeah not even close yeah so so it had the highest uh i guess like like gainer gain yeah but that news didn't even get close to the news that we got when it absolutely tanked then i guess like the founder doe quan his twitter following just went ████ crazy everyone was talking about luna i'm just like it's crazy how like
5:53 when something catastrophic happens it just gets so much publicity yeah but then when something does well it doesn't get as much yeah and that's really the story for us too like because we insane ride insane ride like buying at five buying at five and six see watching it go to 100 yeah oh crazy crazy and then the way they were gonna back ust with bitcoin because they knew there was like a shortfall where like there was so much um market cap now worth of ust i don't know if you guys know what ust is but like it was a stable coin the idea of it was an algorithmic stable coin so it's always going to be worth 100 pennies or one dollar so it's like the idea of it is for every one dollar of ust that you generate one dollar of luna gets burned so as more protocols um come on to luna all these different you know
6:43 great dev teams so everyone likes to say oh lunas is ponzi game all this stuff all this stuff but they don't understand what was actually going on with them like you're talking about dev teams who are building out different protocols for luna and then everyone looks at anchor protocol and they go see it was 20 fixed for ust which is a stable coin that was never going to last and anchor protocol was the first p first group to tell you that wasn't going to last it was a promotional period they were they were loading money into that fund to keep the 20 percent but the idea of it was a temporary ponzi but but the idea of it was was to be to fluctuate based on demand so it was going to go down and they even predicted it would go like 14 or something which they got the funding from the transactions and yeah every transaction on network right that went through and
7:34 then people who were staking yeah it's not a sexy story as a ponzi scheme it's not but i think the way that if you understand if you could look at crypto it's like anchor protocol was just one of many like it's like it's like blaming ethereum because someone designed something on the ethereum network that was shady you can't blame all of ethereum for that but um aside from that i think like the juicy story here though is like the personal um experience of what you guys went through during those moments so like i know what happened on my end i had a oh ████ moment i was probably jacking off or something okay i wasn't there your free ball beating it right was your dick all the way out yeah was your pants down i think i came to my senses after i busted a nut and i said oh no i got to get my money out no no i think um steve here
8:25 was helping me on the phone while you're jacking off yes and then getting my money out i was like you better ████ come now little man and i was like j-o-y and i said you have 10 minutes 10 minutes to come is that j-o-y jack-off instructions you have ten minutes to come and then or otherwise you're never gonna he was also helping me move one one phone for some reason yeah i didn't know how to do the money because i didn't use whatever it was but during this whole time i was like i didn't realize that you you had all your money locked up at that time so i was just like wait once i noticed i was like oh ████ i thought you just de-risked it right now yeah yeah yeah well that's because i sounded like i do right now but that's you know because i've de-risked in february i wasn't just totally obliterated right like thank god right but but man there were so many who did so i'm trying to you know you you try to
9:15 feel for that like dude literally people some people took their lives like it's crazy what happened that's what yeah i went live too suicides that were like oh my god doing the suicide science and i was i was one of those people that didn't have my stuff de-risked so i pretty much lost everything um and it was crazy because i had many of y'all texting me too and even like close friends that i also got into luna and stuff they're hitting me up they're like yo i heard like people were like killing themselves and ████ like this is crazy like are you okay so i maybe i got more dramatic because i had also gone through you know 2017 2018 and lost the ████ ton then too so like i think maybe you're when you're used to seeing your kind of digital bank account go from like zero to this and then go from this to zero it's you're less you're desensitized a little bit even though it's still ████ is painful but when your friends start texting you're like yo are you okay and you have to
10:05 start trying to explain stuff it actually kind of adds a little bit more um reality to it it kind of makes it a little bit more real so i'm not blaming my friends or saying that it was tough or anything but it painted more of a picture on like how crazy the situation was because people were for real committing suicide yeah imagine how many people were like you know selling or taking loans or quitting their jobs or like whatever it is in order to put everything into luna and once you lose it all it's a tough thing to stomach you know this is this is what i was thinking too it's like yeah it hurt but then i have survivors guilt because i got away with money like which like like you didn't like and then another thing is like um we all have earning potential like meaning like if we wanted to we can figure out a way to earn five figures six figures whatever right but there's people that we knew who had
10:56 just like 12 an hour job or whatever and so the type of like let's say they lose a hundred thousand dollars to get that back it's life-changing money for them and that's where i felt like extremely bad for them because i was like ████ well unless you figure out another job choice or a different way to get income that's going to take you forever to bring that stack back up or like but if you're at the mercy of the trend right like the market you have to wait and that's where we're at right now you just have to accumulate but it's the earning to potential is different so like if you can do something to get a bunch of money and then you can buy more crypto you're back in the game yeah but if you're like you know kind of stuck at if you're not emotionally wrecked though no the mindset's everything yeah the mindset's everything because we're all going back in oh
11:47 because this is just like a battle that you learned yeah yeah it's not over this is a setback but that's because we've seen it before but there's a lot of people who probably came in for the first time you know and even if they didn't lose like a million dollars like most of us maybe they only lost like twenty thousand but that was the first time they ever lost twenty thousand dollars yeah that's a lot of money today's video is brought to you by tushy now imagine you're walking down the street okay you're like on a date you're having a great time you're talking to this girl right and a bird dookie's all over your arm there's cocker just bird pigeon cocker all over your arm right what do you do you get her jacket and ████ wipe it off maybe you know maybe you grab her hat wipe it off or maybe you're a gentleman you take off your t-shirt because you got a nice set of abs and you wipe it off right but do you still feel magically clean do you want to cuddle
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14:21 big so so yeah it's dude it's it's it's a thing right but but the the thing about this stuff for me personally is just what it does like if you are in a third world country and um you want to get a td amount of trade account you you feel like you've been reading about the united states stock market and you want to participate where the land in the land of the free you can hold in in your funds into a 401k and retire at a certain age because of the growth of all these companies like if you zoom out enough so you do the work you want to participate you can't you live in a place where they don't allow you to through decentralized finance you can you can use all kinds of different access um access points through defy and so that's what i love about this stuff so the love never changes the fact that ust got attacked and beaten by um an exploit frankly
15:14 so far we're seeing that like maybe 20 wallets are responsible for pulling a lot of the liquidity for ust like at one point right just selling ust at the same time in the same hours what it's looking like at least seven wallets were responsible for that how much money are you talking about hundreds of millions yeah the whole the whole goal i think was to uh pretty much short bitcoin and sell ufc at the exact same time and throw it off the path broadcasted his plan which is you know what everyone's kind of criticizing is like hey dude the mechanism didn't exist yet why did you broadcast the plan if your plan to sell bitcoin for ust right so think about like this right if if ust is supposed to be worth 100 pennies or one dollar at all times if it slips that if it goes to 90 cents you're supposed to be able to take this reserve like three billion dollars of bitcoin sell
16:04 that into ust restoring that peg right so you're creating value for usd by buying it and then it's supposed to go back up to where it belongs but unfortunately the damage was already done they didn't have enough money to absorb the shock because there's a 18.5 billion dollar market cap and you got 3.5 billion dollars so the ceiling and the floor quite a lot of air between those two things and that's what ████ us right so that sucks and frankly we should de-risk more obviously that's a very easy thing to sit here and say in retrospect it's easy yeah it wasn't even an option like if you told any of us this to de-risk into us dollars or anything we would have laughed at ourselves this top performing corner for like over a year even the night dude even the night that i de-risked which i told on my crypto corners about i was like yo i gotta just do this because uh the way putin's blowing ████ up the macros are getting weird so i just have
16:54 to de-risk something right because i was i went through 2017-2018 so i gotta i gotta learn lesson from that right and i was like i couldn't look at nikki knowing i didn't de-risk anything from this run but she was ████ bananas right turned a very small amount of money into a very big amount of money did better than last time even but if i didn't if i don't see anything for that at this time that will suck and then um i told nikki that night though i was like it sucks because i feel like i had more luna i just sold it and i'm i think i'm selling my future kind of because that's how much i really believed in layer one solution of luna so when you first do your wrist you were ████ kind of like i was bummed i was bummed it was a bomb but and then and then you must have felt even more ████ when it went back to 100 something absolutely yeah but and and honestly too and i love my corners so much and they are they're both great balls they're the
17:44 best they're great and they were busting my balls they're like man when steve uh sold the ████ we went back to the ████ 120 or whatever and i and like that's all great but taking profits is always a good thing like always always always a good thing right that everything was passion um i was i was talking to the crypto corner team and i was like man luna's cheap right now and i bought 50 grand worth and it i i just went to ████ you just donated basically yeah basically i saw by 50 grand went to like 20 grand in a matter of an hour were you watching holy ████ you know what because usc was the key to the game for me you know it's a really ████ up and crazy feeling i'm just gonna say it here because we're obviously talking about something so unique right um everybody was calling a black swan event it's not just like oh this project tank these devs suck there was an x point it was like the exploit
18:34 of the entire century for this this is going to be a ████ thing in the history yeah this is like literally case study this is on top this is like some 1929 stock market crash type of experience for a lot of people obviously suicides happen right and the ████ up human experience that i remember like trying to because it gets emotionally and mentally when you get invested in something it's very very difficult you know what i mean to like uh separate your own logic and your own morals in terms of what you're experiencing when you're just getting ████ railed by something that is more big is bigger than you right and i remember this like really dark feeling i'm like reading about people who or like committing suicide and yet that made me feel for lack of better terms better um because it made me realize that i wasn't as lost and it was the saddest
19:24 feeling i get that thought yeah yeah that's also sounds guilty yeah so that's that's what i have i have survivor's guilt ████ feeling to be like um like no matter how much i got wrecked i'm like well i'm i'm all right people are like you're right and i'm like i i'm not off in myself and i'm not even thinking about offering myself and all these people are doing that so i think i'm all right you know what i'm saying it was just so weird to see any experience to just participate in that the best way i can explain it losing a lot of money like that is like um getting dumped yeah exactly i felt like i got dumped by someone i really really liked and like it was really good and it's almost like dude i thought we had a great time like like what happened like was it me well yeah was it me like no but not only did i get dumped i get no explanation i get ghosted and i'm just like baby come back and everybody's
20:14 talking to you like why didn't you know i know basically yeah it's like it was right under your nose ponzi it's like yeah okay ████ you totally that's actually the worst once people come out the woodworks because they hear all the ████ negative presence suddenly feel like they have a stake in the conversation of what you've invested you're pretty quiet before actually so just want to keep it down and there was people there was even people on twitter that was like tagging all three of us dude the i told you songs and there were being dicks about it and and a part of me somebody somebody i obviously didn't respond to a lot of the tweets but one of the tweets was like yo you know like do you blame steve and that's when i felt i had to not clap back but i had to be like no steve got me into this and we had a great time we learned a lot about bond he's a good friend and i still hang out with him so i don't know yeah you know what i mean it's like people need to like four days later we're buying other people but that's the thing people think that like oh we're not friends anymore
21:05 it's like so funny the first ████ zoo meeting i have with steve after all this crazy stuff is i was like i i guess should i buy woo now yeah like like you're like you you told me actually you're like okay i want to get back in the game and i'm like let's go ████ but that's also what makes me think like nice the people that speak to us like that they're ████ weak-minded they don't have friends like this they just like it's like that would be their threshold they would lose friendships they wouldn't be able to stay in investments like this so it's like but hey mclean once put it some people just want to see the world burn there you go but hey you know what i can't believe i'm australian i can't i can't believe either you know why because when you look at some of this stuff and you look at like you know anchor right we're getting we're getting like between 18.5 20 for like a year plus in flux um if we didn't even touch that just
21:57 kept that ████ in a savings account which we were hating on the whole ████ time i get that argument it's like oh dude you would have done better just chilling in the ████ game that already exists for you i get that so good for you by the way i i don't i don't hate on that at all but for me i only ever risked what i was willing to lose which for me and nikki various ████ small amount of money like we ever we only ever put 18 g's into crypto i've turned that into a million dollars twice ████ well 735 first time second time 1.2 so come at me if you want that's one point i'm going to do it again i'm going to do it again and i'm going to do it better this will at the poker team dude that's the other that's the other i can't brag i put i put 300 grand into it of my real hard-earned cash yeah well but but that's the other thing
22:47 that i love about this ████ right it's like you know dude don't count the greens out for long because ████ nicki just won i mean dude she won even before that she won like 13 or what 12-5 nine days before she won 116. so like just chill out i mean the once you're in a to me it's like once you're in the game right that's the war and then the war can go on till you retire and you i mean it's like being a traitor being anything you go up and down yeah but the point is if you're constantly going down then you probably should leave the game yeah but we go up baby like this is our second time winning a meal doesn't that mean we're also it's our second time losing email so we are technically almost at constantly going down i would say you're constantly going to me my barrier is the uh my base is the principle so if you're constantly dipping under that principle and you're losing money and you've consistently
23:38 lost money and you're never going above that threshold you should probably leave the game let me put it like this i've never started a bear market with as much money as i have now so ████ with me gangbusters dude i'm telling you well but but but it's not because of anything else honestly i just love this ████ i love this stuff right i love what it can do and yes there is so much ████ in this space just like companies just like when you're a vc investor i mean that's the reason why you buy 50 companies because you know maybe two will work out right like that's just how it is with startups that's what we're doing with crypto we're the mentality is you're investing in startups and you're looking for an edge that everyone else is missing i'm already on the next one i've been on it for a year and yeah it's gone down bro let's be real right it's going down like i was first buying it it was like ████ 70 cents it's gone down
24:28 it's like ████ my my woo baby is it like got 16 cents tonight awesome opportunity right another chance to stack more of something that i thought was value it's valuable at 70 cents and that's the mentality you have to have it's not you know oh no my investment i'm so emotional this isn't working out ████ you i'm gonna sell it because i'm so mad at it no it's like i have an advantage everyone's missing it they're gonna catch up when it's probably near too late and that's why i'm going to win and probably some people are going to lose because they're going to be buying some ████ that everyone on ████ youtube is already talking about so it's never going to really do that well because already everyone bought the ████ out of it so like they're buying it way too late and like that's cool but i'm looking for my advantage that everyone else is missing finding a use case that the market needs and that's going to drive my portfolio
25:18 not this ████ like i have a shark face and a youtube video and here's my ████ token like yeah why cardano is the next best thing cardano a top five coin will be the next big thing yeah good luck bro [Laughter] are you starting a war in the crypto community yeah no honestly it's not even the cryptocurrency agrees with me starting awards lately no no the um the way that people talk about crypto that's the part that pisses me off it's like because you can tell when somebody knows about something and if you've been in a space long enough you can tell when somebody doesn't know what the ████ they're talking about but they're using buzzwords yeah so that's the difference is like okay cool spot the market need look for the way that something is doing something differently than everyone else it's called value investing that's it ████ and and i am
26:08 doing it again so watch me that's that's funny because on the on the ig live that we were doing a bunch of fans were like how did you get how did you guys not know like that uh that uh luna was a scam and i was i'm like oh did you know and like yeah until you can see all the signs did you short did you bet again yeah no really honestly yeah if you know if you knew that much why didn't you ████ short you would have been a millionaire make money off the drop if you're so sure it was gonna happen like nobody knew like come on it's always easy to say that after you had a hunch or like you just i don't know it's confirmation bias that's all it is but hey credit to them honestly because it was an exploit luna was vulnerable through this ust attack method honestly and another thing too that people are missing is that the way that ust went multi-chain kind of ████ us a little bit because we didn't have enough
26:58 liquidity to cover us when they were trying to pull from one place to provide liquidity to another place where they were going to plug in this mechanism to allow bitcoin to back ust we got ████ wrecked by that disparity of time and the lack of that mechanism having to send bitcoin to an otc desk right over the counter desk to have them perform the swap instead of being able to just do it mechanically using the platform ████ us for sure so hey like i said when this all happened the night that it happened because i was live on crypto corner as it was happening credit to the people good job you beat us in the short term that's fine but i will ████ have my revenge dude this is what i do ████ i'll be back we all will be back here it's steve that's
27:55 i also love how like this exploit the amount of money that it took to do it it's like if you have that much money you could probably find an exploit in most things billions bro but that's what that's but that's what dokuan gets you know in fairness for saying like because because a guy a guy in november right he tweets out and he called him a ████ how you could attack this ████ a guy called and dope one calls him a ████ and then says all my billionaire followers do it see what happens and they did the billionaires came ouchies max algie's yeah they came yeah so those little oopsie doopsies by documents but we'll be back [Music]
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