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The Underdog Investor Audio Experience
I lost 120K in 24 hours
The 5-minute-a-day Underdog Investor audio experience is a show that’s dedicated to helping you take your power back and create your own version of Freedom. To our clients and us, financial freedom isn’t something that would be ‘nice’ to have; it’s non-negotiable. We’ll be focusing on conquering the world of Investing, diving into a wide range of income-producing opportunities available through DeFi, exploring all things blockchain, and mastering this thing called money.
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UNDERDOG INVESTOR GROUP: https://bit.ly/CryptoLabsPassiveIncome
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- Broadcast on:
- 28 Aug 2024
- Audio Format:
- other
So I don't know about you, but I've definitely lost some money learning this crypto DeFi game and the biggest loss was a 120k and 24 hours in Terra Luna Now I'm sharing this not to cause fear or be like oh my god is crypto a scam. It wasn't and it's not I Just got cocky. I got complacent. I Didn't research the algorithmically pegged stable coin. I was just chasing yield and I put a bunch of my personal Bank and my company bank account into Terra Luna Anchor protocol at the time to make my 20% interest on it because I was kicking ass and and and beating the stock market times three at the time and When the algorithmically paid stable coin Started having issues the value of one dollar drop to 90 cents 80 cents 70 cents 60 cents It sits around a couple pennies now, and I didn't get out in time because there was a few things that happened a I Only had one centralized exchange and I was trying to send my US DT I believe it was called or whatever it was called I was trying to send it out into my centralized exchange and I sent like a 50 60k of it and it got blocked For three four days. I didn't have access to those funds. So it just kept dropping in value. I couldn't sell it - I had way too much all in one protocol all in one project and three I didn't fully understand stable coins, which we have a future episode coming out here that really breaks down stable coins into four main categories Important to know the point I'm trying to make here is you will get punched in the face if you're learning this I Didn't have community. I didn't have mentorship I didn't have anyone to ask questions or run my thought process through and so I made some flawed decisions that cost me because of the stupid tax I paid the stupid tax of 120k in 24 hours when it couldn't have been avoided if I would have just seeked out Some support some help some community It was at that moment when I lost that 120k when I really realized how important community is and it's actually been a primary driver to building the UIG and we wanted to make the UIG and Thank you for being a part of it But we wanted to make it like anyone can access it at a price where anyone can make it happen yet You know get a couple thousand dollars of value every single month staying community and stay the course and stay plugged in That was really the basis and the thesis of like what we wanted to build in crypto labs, but anyways, I Paid the stupid tax 120k awesome good got it And I had a moment that evening that was like do I stick? With crypto DeFi do I master this or do I walk away? I obviously chose to master it and I went all in after that Because that's just honestly, that's just how I made the harder you punch me the faster I get back up and the more I want to get in the game But it's less than it's like that that teaches I've never lost money after that ever Ever ever not to a hack not to an exploit not to misplace seed phrase Not to a protocol not to anything Because the pain of it It just it was ingrained into my DNA and I'm like I'll never make that mistake again I used to have this red book and I used every time I made a mistake as an investor as an entrepreneur that cost me money Or or was it you know a costly mistake? I'd write it in my book This is what happened. This is the mistake and this is the lessons from it Here's how I could have avoided this and I would just study that over and over and I would just never repeat that same mistake A lot of people are still yield chasing. They're still getting into really crappy scammy projects And I don't know why they're just chasing yield and they're making the same mistakes over and over And it's like you never actually learn mistakes or inevitable if you're trying to play a bigger game inevitable, but if I don't learn from them Like with respect you're an idiot Like you can you can actually earn the label of like okay, I'm a dummy Learn from the mistake ingrained it into your thought process and into your kind of investment process And then just never make the mistake again. That is how winners get on top That's how people build empires not because they avoided the mistake. They just made the mistake once So yes, I lost 120k never lost money since then and I learned some valuable lessons that are probably worth millions of dollars to me and I didn't let it or I don't let mistakes hold me down But I do I do make a massive effort to learn from the mistake extract the lesson never repeat it again I hope this helped log back into the UIG get into community jump into the mindset group jump on the live calls Today, I'm recording this on Thursday in about 20 minutes. We have our hot seat call Get some Q&A in there get some one-on-one time in there hop in and with that said we'll see you there