Please.

Hi define look good. Good afternoon.

Hi, good afternoon.

So good afternoon, everyone. You're welcome to this piece and I'm here. We're going to basically be talking about the shaggy stories of crypto. I'm sure we all are aware about the FTX saga. A lot of people lost money and yeah, a lot of people lost money. A lot of people have cried. I know not many Nigerians are involved and also mostly institutions, actually companies, have actually been affected by these FTX issues.

About my fight and the crypto industry, Binance is involved, many people are crying and so we just have a crypto enthusiastic crypto influencer. Yeah, crypto load, who is going to be our co-host on this space to share shed more light on this issue and will also be inviting some of you to actually share your stories with us. And so I'll just let crypto load introduce himself to your.

I'm cryptology op.

Yes.

Yeah. Good afternoon, everyone. I'm, I'm glad to be here. Yeah, I'm going to load. Yeah, I'm a trader and I'm in my case also from hotel inventory space. So I'm going to have you guys here.

Yeah, I'll go.

So good for that. What exactly is the situation with the FTX? What happened? Can you just quickly explain that to us?

Ohh OK yeah, yeah.

Yeah. So what I actually discovered what actually rather what actually of that is that they actually became insolvent. Yeah, like let's say they actually use people's fund then.

Second, they lost most of each.

Yeah, so people who are actually putting money there could actually get it again, so.

Yeah, not adjusted. They became insolvent.

And then there is.

That was doing the same thing and they give the money to Alameda Research which is in such arm of FTS and Alameda they invested into a project that actually didn't do well on the other.

They actually leverage the money on the check when their market came over. So they lost most of the money, actually made some most of the money the funds that people actually kept in the exchange. So that is just, yeah, we are currently.

So are there going to be any group of people are going to be able to retrieve their money or every single person has lost their money?

Well.

Before now before we got FPS as actually filed for bankruptcy, but before now people in the Bahamas and people in the US actually withdraw their form because they are different, different arms of the government like.

Right.

FTS, there are different arms of there are different ventures of FDS, FDS and sdn.com. So people need to buy my scripturally withdraw their fund. Many of them actually withdrew, some people actually went to actually get Bahamas passport, they forget everything and everybody to get their funds out of the of FDS through that week, but.

Asking.

But those who, who, who, who who couldn't get there from after you shutting down, off, withdrawal all that well, I I think that one is done myself. Somebody is able to buy the liability of the company then they can be able to pay the customers and everything all the debt their way. But for now I'm not, I'm not sure that there is any way around it to get back and forth.

Wow, that's very interesting. And now I know that a lot of people have just been crying a lot that I know crypto has. I mean, people have made a great deal of money from quick to like, but from people I've actually lost this people don't even believe they don't trust crypto, their protests legitimate and they just think that it's a it's a scam. Before we continue with the conversation with me, I'd like to ask anybody that can that wishes to share that story or the story about crypto just to.

Like kid would like to do. So if you would like to Share your story, you can just.

Make a request to be a speaker and I will just grant you the mic so I can Share your story with us and also what you've experienced from crypto and then we can we can just have that from there. But as we wait for that, some companies, some Nigerian companies have actually been affected by this. Some companies apparently they have their, they have their funds in crypto and this whole issue in FTX rather and this whole issue is affecting them, a company like Nexon has come out to say.

The involvement in the in the FX saga has actually made them lose money and they've laid off staff and we all know that in the tech industry many many companies have been have been laying off company have been off staff this year in fact in 2022 about.

100,000 staff have been laid off and it's not like.

Who?

It's not like who.

Who is next I mean who is next who is next to be laid off. We don't know who's going to layoff. Twitter has been laying off Facebook laid off 11 K next week and I would like to say that even Amazon is also planning to layoff about thanking staff and it's just like who is next. We don't know who's going to be laid off next week and this is actually very very it's a tough year for the technical system in in the world in Africa and many even Nigerians too many of them have been laying off staff and

Into.

And crypto stove, it's now. It's not making noise. So yeah, we have Zen. I'll leave. I'll leave them to shares. And she gets three. So then you're up.

It was this is. I'm not going to share my story actually, so I'm just here to help contribute to the to the discussion.

OK.

Yeah. So like you, like you rightly me, of course the economy has been.

And it's not just crypto on both web two companies like Amazon, Facebook, Twitter laying off staff. Yesterday, Amazon still laid out 10.

Yeah. So it's it's actually a repercussion of what the global economy is right now of us trying to fight inflation, mostly like increasing interest rates. So of course that has actually affected both crypto and the stock market and prior to this FTX.

The crypto market has been like on a standstill from the all time high of 69,000 St 19,000 and we've been there for a while and while we're thinking of recovering that was when the OFT X issue.

And um, crypto Lord has been able to shed a very good reads, but like the old story has been, it's just a case of whereby.

Alameda has been borrowing FT X has been bailing Alameda from from all the trades they've lost cause over the last year reports have been saying Alameda lost around so Alameda is trading.

OK.

OK, OK. Yeah. I wonder is just like share some letter what Alameda is and what do they do and why? What is the involvement with FTX and Alameda?

To Alameda is the trading arm of of FTX like is the is the trading company not of FTX but also owned by Sam also yes, so they are like the quant trading firm.

Yeah.

So what the?

That tree because they don't defy and likes you understand but due to the old lunar three AC block 5 for those issues reports was across the Alameda have lost about $10 billion in trading all throughout this year and last year. So in a bid to and prior to when they lost those money they've already like borrowed money from major lenders and all. So in a bit like pay back those bonus then pay back those.

Borrowed fees they had to FTX, had to back them up, had to like help them to like pay those funds. And of course, while paying those funds, it left a very big hole in the FT X treasure because they had to use customer funds, because FTX as a company in itself, over the course of three years I've only made $1.65 billion in profit. So now imagine you you that as a company you've paid over one, you've used 1.65, you've made $1.65 billion in profit in two.

He is.

So of course for your, for your.

The parent company or your child company who is owing about $10 billion, you definitely you have no profit in your reserve to make that payment. So it's just right for you to use customer funds to bail them out thinking that.

Overtime you're going to be able to make that up. So while they were trying to cover that up and that was when the whole season Binance issue came to light when the whole coin Dex reporting came to like that they had like a very big hole in their balance sheets and of course the crypto economy is fueled by Ford, any little Ford like these people are definitely going to going to panic sell and of course for a company like FTX who doesn't really have any reserve again it was definitely bound to cr

Scenario of war.

Wow. You use customers money to build yourself out and now everything has crashed in their face. I mean this guy Sam Batman fight doesn't CEO of FTX, he lost the highest amount that any individual has ever made in history. Was what, about 16 billion U.S. dollars? And in one day he was worth I think worth about 1 billion. And the last report I heard from Bloomberg is like is what? Zero? But losing up to 90% of your wealth in one day is wild is very, very wild.

So, um, Solomon is also a speaker and Solomon, you want to share something with us?

OK. OK. I will just talk about I think three things or four things. The first I will talk about the lunar, then the FTX, then the third one should be about food, fear, uncertainty and doubt. So let me, let me start with M taruna. Now I would love to see whatever is happening right now in the markets. We are still getting the ripple effect of what happened with Terra Luna. For me, I would say taruna was like one of the biggest blow that crypto got this year.

In terms of crypto and blockchain itself, decentralization there Luna was like one of the biggest then NFTS. You can see FTX is one of the biggest in terms of trust, in terms of onboarding Web 2 users to Web 3. FTX was like one of the biggest blow we got in terms of trusting crypto. So let me break down taruna. Why I said it's one of the biggest, the Terra Luna ecosystem. The blockchain itself was valued at over $30 billion before the whole debt spiral stuff happened.

Around me now at the same time there Luna the total value locked in defy total value locked was above $200 billion. You can look up on chain data about 210 two $130 billion around me immediately that Terra Luna hack sorry Terra Luna death spiral stuff happened. The peg UST the peg from $1.00 we lost over $100 billion total value locked in defy it went into 2.

Have we lost that $100 billion just like that and a blockchain valued at over $30 billion. There are loan itself. It vanished. It just vanished. Now looking at the ripple effects anchor protocol, which is built on there Luna, which is AD 5 protocol, that gives you the opportunity to stake your USD and earn as much as 19% via total decentralized defy. This is decentralization, not centralization. Decentralization.

It crashed.

It crashed and Uncle Protocol had billions sticked in his people's money that is indoors being U.S. team because it was one to one peg. All that money went down the drain so people lost plus minus over $20 billion.

Via the teruna crash. I'm not talking of the lunar token itself. No, I'm talking about the ecosystem. Basically. People lost crazy money, crazy money. Now, I got to know this because I'm a key player in D5 and I had money sticked in anchor protocol. Now, you're not talking of other projects too that were built on the trauma ecosystem. Talking about Kujira, talking about Arrow Loop, so many, so many of these projects. Some were worth $500 million, some $100 million, and a whole lot. They were bui

Most of them, they vanished into thin air. Only very few migrated to Juno blockchain. Some decided to start their own blockchain on the cosmos ecosystem, like could you choose to start their own. Now, what I'm seeing here in the nutshell is looking at it from the decentralized perspective, you can see so many projects that were affected and so much money that was lost. Imagine you had a liquidity of 100 kiddos and because of the aluna you lost 90 kiddos of that liquidity. That money vanished int

I'm trying to recover from that. Ripple Effect is still spreading. Now look at it from the VC's aspects. Still until Alona we had so many visas, they were heavily invested. We had so many liquidity providers that had 10s and hundreds of 1,000,000. Three AC was one of them, one of the investors and all Alameda too was one of them. They had so much money in Terra Luna because believe you me, teruna was one of the top projects that you can count. You can see your your portfolio secured. If you have

Blockchains, so many of these VC's, so many of these liquidity providers, they had Terra Luna in their balance sheet and worst so they also had their alluda stable coin, USD in their balance sheet. Now imagine if this made-up even if it's 25% of your portfolio or your balance sheets, just imagine and that whole stuff went to zero, the damage that would cause. So that's one of the things that also killed 3C1 of the major things is one of the major things that also crashed Alameda.

But they didn't come out publicly to say it. And it also crashed so many other companies and projects that nobody knew about. So many. Now that was when we had that massive hole in this whole ecosystem. We had one big hole, that FTX behind the scene. They were struggling to fill up that hole to like help Alameda to sustain whatever happened, damages and all. Now let let me shove that aside and let me talk about FTX now. FTX on its own, we've always had.

Sam who hype around FT X. I'm saying this because I knew about FTX last year, February March, when the head of FTX for Africa reached out to me and told me about FTX Adebayo.

Now the thing now is I did some research, wonderful platform, I started using it because of him and one of the major things that FT X used to win the hearts of people was features trading, Futures Trading, FX features trading was fantastic. Like the risk management was way better than that of finance and the core use of Binance. But the risk management of FX, Futures Trading if they would they how few it was the liquidation process. Everything was way better than that of buying.

We're speaking now. I know I helped some traders brought over from Binance to FT exercising FTX and a whole lot. Why? Did some research. Why? Because of the whole hype around NFTS. People shouting FTX would dethrone Binance. FTX is not a competitor to Binance and all. I did some research several times last year, September. Even this year July, I still did the research. If you check based on volume, top five exchanges based on volume, you will notice that FTX was never top two or top three.

You had the likes of ex ahead of FTX. We had the likes of L Bank sometimes ahead of X. We had the likes of Baybeats in features ahead of FTX. But some way somehow they did this wonderful branding that put FTX like they are the second best and largest, which if you look at data trading volume, daily, weekly, monthly.

It didn't reflect so that that thing, it was like 1 and it it, it wasn't making sense to me. They were, they were, they were lapses looking at it last year because these guys were spending so much money consistently. And whenever you ask a question, what you hear people say is Alameda has mad money. That's why you get mad money.

Is that nobody was really asking where you left. Yes, getting this money from the belief was Alameda had mad money. But Fast forward to today, we have seen that it is actually FTX that was really funding Alameda and this is one thing that has led to this whole crash that we're experiencing today which people lost so much money, I can't even go to stress like I know guys that lost about 400 etherium.

One person, one person lost like 2222 and BTC. Some are OTC traders, they lost huge money. Some are normal traders. Me, I can't even complain from my own because what those guys lost when I hear it didn't make any sense. And when you want to start blaming people you should also think why? Why, why would you blame them for leaving their funds there? Most persons it will be sincere with ourselves, most persons might not OG most persons got into crypto from 2020.

I always tell people anyone that got into crypto from 2020 best believe the person does not have an idea of cold storage.

The person doesn't have an idea of paper wallets. The person doesn't have an idea of all other means that you can make use of storing your assets outside a centralized ecosystem. And at the same time, we we have been looking, we've been talking so much about onboarding more persons into blockchain. We've been that, that has been the gist for the past one year now. Bringing in more persons, bringing in more persons. Most times when you look at it, this can only happen via centralized platforms. S

Maria we we brought down the entry barrier to almost level 0 FT X was launching lots of projects to help people easily on board.

So we have tons of people that came into this crypto ecosystem based on these web two interface which are like centralized platforms and that is all they know. They don't know anything decentralized. So when you start blaming people that you did bad, you have left the bulk of your money in your your wallet where you have total control and it really doesn't make sense because they never knew that. You're saying that based on you knew better as an OG and all, but these guys, this is the best they

We, we need, we need to evaluate this whole situation and before you try to blame some persons, you need to know that there are people that have lost their life savings like their life savings. They are the stuff that happens. There is stuff that happened rather a few persons that I know that got their phones out there even though they can pull out your phone. I told them because I know that I'm going to brought them to the platform based on I told them they can use this.

And I told them, see this stuff I think on Monday last week was like see you this is the news, just pull out your phones now. I mean I was telling most persons I didn't bother pulling out my phone. So why? Because most of the assets I had, they were like long term assets that I'm not even thinking of selling anytime soon. Like the likes of Media, Mercuria, Star, Atlas police and all of that you get. So this stuff now has happened. The effect of this FTX stuff, I can guarantee you that it has not

We haven't seen any effect of this FTX stuff probably is still in the next two to three months. That's when we'll start seeing it. For now we're still experiencing lunar crash. What happened? That is the effects that we're getting now you can see, we see CEO of MEC.

OK.

Eric.

Sorry, I'm I'm rounding up the CEO of three AC started started tweeting recently again and you can see some other platforms now like Voyager and the rest. They've been talking and all of that. This is because they too suffered heavily from this. Voyager went back bankrupt because of lunar crash, which made FF borrow money from them Celsius to is a similar thing that affected them. So all I'm saying right now is moving forward, this is not the time to start blaming.

Well.

People for doing what's wrong or what you feel is right or trying to throw stones is the best time to like support anyone we can the best way possible and try to educate some persons the best way we can basically.

So that will stop avoiding more sugar stories.

Exactly.

Thank you. Thank you very much. That was that was quite packed also. Yeah, it would be giving room for more speakers to speak. I have crypto to the world. Yeah. Please, please guys, we want to hear Yoshiki stories, right? As long as we want to. As much as we want to learn. You also want to hear what experiences have you put money in crypto before as it made you lose so much? What? How much have you lost in crypto? If you want to share that, what has, what has it cost you have?

You put your school fees have you what trouble have you entered by investing in crypto? And just sort of you want to hear some of these stories from from you guys, so I'll be giving the mic to crypto to the world now please also try to make sure that.

You not everyone is as versed in crypto as some of us right? We have different level of understanding of this industry so and please also try to consider those that are not very well versed include are not as technical as you so that we can try to come down to everyone's leave and make everyone understand and actually have a very good nice time here. So quick to the world you're up.

Yeah. Thanks. Um, how you guys doing?

So basically there's some fundamental.

Um.

When enlightening others about the cryptospace.

And one common thing even I heard it from.

Solomon gives, you know, um, elaboration.

Is that when most people get new bees into crypto space, then tend to to want them to trade?

Hello.

Can you? OK, I think he is network is breaking.

You know.

Can you hear me?

Yeah, we can hear you, but I think your network is breaking. Can you continue?

OK. So, so basically.

Those are the major things that gets.

People ranked.

I'll be bluntly honest.

Everyone here and FTX that got raped.

That's one of the reasons they got wrecked.

Um block fight. I got wrecked.

That's one of the reason.

They got it.

And the other is cheese that was mentioned when I remembered the exchange. I will call the name.

That's one of the reason they got wrecked.

And most of these key.

Platform owners.

Have been.

Attacking each other behind closed doors, FTS has attacked.

A whole lot of other.

Establish um.

Competence and God damn right.

And that's why they came in to buy those companies.

Those companies got rates based on.

Futures and margin trading, that's just what it is.

FTS.

Let's try it.

To liquidate violence two years ago and violence lost money, but it's too strong.

This is why Binance NFTS.

They've been a rival.

An FTF came out. Buying Nance helped FFTS established their platform.

That's why Binance had.

Love tons of FTS and FTS also have.

Buying us talking?

But due to.

One or two things, you know, violence himself said it in the space that.

He called Sam, which is the FTS guy spoke to him about.

The lack of uh backup phones.

To to hold up.

Ohh, liquidity, which they didn't have and the response he got from Sam wasn't.

Positive. That's why he came out on Twitter and made that announcement that they're gonna be selling all NFTS stuff.

And his cryptic tweets?

Generate the reaction that made everybody start going there to try to get their money out. So now find out that they don't have enough money to back up their transaction. People getting money out of their their exchange. And that's where the chips start falling down to where we are now, but basically.

My advice for people is.

Do not imagine trade, do not margin trade, do not do features.

When you do those things, it's just like you going to casino.

Gambling, thinking you're gonna win the casino corners. You can't win the casino owners. They're gonna wind up taking your money.

And this is the same thing that makes a lot of people lose money in this space.

Even Luna. This is why Luna lost money, because it was an attack on Luna.

That's why they did Peggy.

Stable coin. That's why all this happened and trickle down. So the most important thing is do not margin trade.

Get into it. Get into a project early by and Hollywood and when the next bull run come you and the massive profits you sell and take your profit. Because what we see now is still definitely going to happen in another five years.

You know, this happened every every four years we see this stuff and every four years we see a bull run.

You know crypto is going nowhere. We see this every time.

And this is not the end of the selection coming, you know.

Thank you.

Uh, the Fed are still there raising the heights. A whole lot of things are still happening in this space, you know, we're still looking at Bitcoin going to $10,000. People are not even prepared for that. All these ones that are happening now is just side attraction, you know, because the whole lot of stuff is still going to happen in this space and people need to be aware of that to prepare themselves, you know?

Alright.

Alright, thank you very much. Crypto to the world. So we have Gabriel business and I'm soon after Gabriel, you speak after, so Gabriel please, you're on.

OK. I think Gabriel is off. I'm Solomon. You can speak.

OK, I'm just going to say something about what the crypto the world see said. Yeah, notice that I started by saying them talking about Terra Luna.

Now why? One of the reasons why I said to alona is my first or the first, like the biggest is because I said it's a blow to blockchain cryptocurrency decentralization. Because this was a core blockchain protocol that went down. The blockchain itself that went down. And all active decentralized players like people that believe in blockchain centralization, they were badly hurt. They were badly hurt. Now we have in the crypto space.

We have people that believe and their mindset is whatever I'm doing here, I want to be in total control. Crypto blockchain is giving.

Same level. If you're high, you're not moving right now. If you're ready, let's begin.

In total control. So they don't do anything with centralized platforms. They only work would be centralized. Now for those kinds of person, the core blockchain only people that we are two blocks in our home from the onset because of that reason, they were affected by this point blank. They were shot, they were affected. Now when we talk about FTX, you now look towards the aspect of.

If someone's mic is on, did that look towards the aspect of the 2.0 people that can play with Web 2.0 to access crypto? That's talking FTX. Now, they were also badly wounded with this FTX stuff, so that is why I came up with that whole idea of #1 and #2. It affected both parties and how you think about it affected both parties. Then talking about trading, Futures Trading and all crypto presents us with numerous opportunities to do almost anything you want to do.

To make money with almost any way and have your own freedom basically now people I mean it's off TX I myself I never made of FT FTX to trade features. It was for sport by long term. But most court traders like I said most court traders right from time that trade features a lot. They prefer using either by Beats or FTX. If it's the very oldies we were using Bitmex then you get. So people jump into these platforms for different reasons, people evaluate the features.

Core features and some platforms and provide for users some tilt towards more of giving you entry level projects like.

Get dot IU MCC they give you entry level project so they can buy them via a centralized platform. If you want to buy the via decentralized platform like pancake swap and all they want to do that they give you that option. So I'm tilted towards giving you solid projects like Binance don't give you solid projects they believe that cannot crash, have a very small chance of crashing some like TX. The teams to towards more of features, derivatives trading babies towards more features you get to each

I made mention that FTX was also working hard in reducing the value of entry into crypto so they can onboard new customers. So this FTS crash has really damaged trust in crypto because you have so many people have been into crypto because of ads that they've seen online.

Yeah.

I understand. I understand. I understand what you're saying, Solomon, because, Solomon, you repeating this, you're repeating the same thing. But all I have to say is not your keys, not your coins. You've heard that before. Exchanges is not meant to hold your crypto for you for a long time, you know? Yeah.

Sorry, crypto crypto to the word say. So hold on I would have to call you here please just to say if you want to speak you can just raise up your hand so that we can pass the mic so that we don't interrupt each other. And anyways thank you very much Solomon. So I will just quickly move to crypto Lord now I'm sorry, do you want to do you have something you want to say?

Well, I was. I was still talking about since you were saying something at the post.

OK. OK.

Alright, alright. So please just round up so that we just give another speaker. Thank you.

Yeah, so the thing there is, yeah I get you, not your keys, not your coins. But the truth is we know people like stuffs easy. And I said yeah, I did say this yesterday in a in a podcast on clubhouse. I didn't say is that it's only a matter of time. Even banks, even banks will start providing support for crypto assets where you can exchange them here to in banks of that holding and stuff like that. There are tons of people out there, the greater population, the greater population, they are waitin

Before they can start using needs to onboard them and this is something that for the past one year or the crypto world has been working towards. Most of the C is the exchanges or they've been working towards bringing the barrier as low as possible, reducing it so that they can onboard new persons to cryptocurrency so that they can bring more volume. It's all about volume. It's a game of volume for them because the more volume the more money they make. And when you talk about reducing the entry l

Alright.

Maybe 5% of all those in crypto that would still maintain making use of your keys back access your funds. At the end of the day, like it or not. Will that gradually migrate to the point where we're making use of web, two related platforms to access crypto products. So that is just what I can see. But for those that understand what it means to within blockchain and people why it was created, it should flow with the OG's and make sure you have custody over your assets. But outside that I know that

Alright, thank you very much. I'm so I'll just ask Zen, I want to ask you now I know you have been involved in crypto for a while now, but please when you are coming to speak now please I want you to hear your crypto experience 11 of something that's happening to you when you just started out on in the crypto industry something that that that that that really really shook you out like men. So this is how this thing is this thing is not. Please I want you to share one experience before you say an

Alright man. Yeah, thanks for the question. That was actually a very good question. So back back actually I actually found out about crypto late in 2018 years late in 2018, that's when I actually joined CRYPTO, but I was not active. I was not actively trading there. So in 2019 I was, I was skeptical that oh, is this thing scam or not if I buy my if I buy BTC.

Cherry Home then Stella. Stella was like the and XRP, these were like tokens away that way, that way in the forefront. Not Solana, not all these guys, you understand? So my I was skeptical. If I buy was I was I going to be able to sell? You understand? So because of that little doubt I did, I didn't like buy any crypto until after COVID when the whole crash happened after the whole COVID crash in 2020. That was when I bought my first crypto.

I bought it through. I bought them at the very low price, I think probably in Naira. Then I think when it was maybe around 80 something 1000 naira. Then then I bought maybe about 1.58 just to like oh let me see, let me see. Then low and behold I feel like 3 months. I just opened my I was using lunar. Then I just opened my lunar account and my 80 something thousand or so already turned to about 140,000. I said wow, so this is how to make money. So ever since then I started like.

Digging deep like since 2020 post COVID, I don't think a day has gone without me not diving deep into something blockchain or something blockchain related. But then of course you need guidance, you need guidance. And so I came to city class crypto Twitter and I was looking for tokens to buy tokens that could do 10X that could do 20X. So I actually wanted to say something but let me answer your question so that I can go back to work.

Yeah.

So.

OK. So you can quickly just say what you want to say. If I invite and I will invite manual to also speak and then followed by GM then in your bunk and then we listen to others. So you can just reply opportunity, alright.

Yeah, so I actually like came to city and I bought some tokens that I didn't like. Do I think I I thought I did like good research, but of course it was not good research and hope like during the first several months of crap I give you so much, I lost about $5000 trying to buy a token just to do 10X thinking, oh, this is going to be my big break. But unfortunately I lost it all. So of course. So that gave me a new orientation of old. This is how to actually research this actually how to buy cryp

So yeah, I would say maybe that was one of like my biggest loss since I actually entered into crypto. So now back to what Solomon and the other guy was saying for from what I think, and I actually disagree with Solomon, I think the aim of crypto in itself is full decentralization and it's not really about OG or not OG. The aim of crypto fully at the end of everything is decentralization. Yes, new newbies will come into crypto through centralized exchanges like Binance, and that's what F was tryi

But at the end of the day, you cannot be in crypto after six months or 12 months and you actually want to be in this space, not just to make money or do anything. And you remain in centralized exchanges. The aim of crypto. And I think we as individuals, we as should not just be preaching to people about, oh, you can make money from margin trading, you can make money from future. I know a lot of people are in it for the money, but also without the technology the money is, is, is almost never goin

So I think the the the first point of scenarios once we onboard people through centralized exchange, you have to start letting them know that the aim of crypto in itself is decentralization and you have to Start learning how to go with AMS protocols, liquidity swap protocols and all those kind of was named terminologies in a way for them to get to the next level. So that's just let me not take so much.

Alright, thank you very much Zen. So let me just is also here from our script to load crypto. Lord please, I want you to share one of your funny crypto experiences with us before I move on to Manuel to speak, to share what you want to say. You're up.

Please what type of experience you bought?

See.

What does?

And they're just talked about how we lost 5K in trying to find the right scripture that will do 10 eggs. So any experience that you had when starting out with crypto, please?

OK, like I said this several times, cryptocurrency you, you will lose, you will profit, you will lose you again. That is why I actually encourage people to actually come on board with actually nothing. Just come on actually start from somewhere and build liquidity up. You can do many free and this thing that you can actually earn and make some money from it.

Yeah, the space crypto is a very risky asset. It's a highly, very risky asset.

So it was. I was sorry, what's the largest amount you've lost at a time in crypto?

Uh, what?

Like I can actually, I can actually because I've lost so much money from investments like investing in private seller and all that. Even in FT is I've lost so much money like but that one is not actually the most painful part like probably 2K200K dollars, 100K dollars. It was actually the most painful part for me. Like the most painful part for me was when I was actually starting up.

Well.

Like I was able to actually house walls around and were able to make like 2.5 etherium and then I lost everything to rockpool. I I tell you how to provide, he pays me more than a telling me losing 100,000 dollars $200,000 to buy an NFT's and then actually buying them. What did they call it?

Project Private Sale I what I could say is it's just about what I have then compared to my loss and what I have.

Yeah, I understand. Yeah, that's true. True. True. True. True.

Because yeah, yeah, yeah, I get, I get.

And at the time I actually lost those kind of money. Like just what actually made the difference? You can actually often never. And when you lost nine era, you pay you more than when you have like 1000 naira and you lose maybe 200 naira. You see the yeah yeah yeah. So my most painful part was actually me losing that 2.55 etherium because he yeah, I I little or nothing. And that was in like in 2019 and 20.

It's part of the game.

Alright.

19 So I've lost so much money in this case, but it's part of the team chat, it's part of the game. Like the way I like the way I've made so much money from this place like this. This place is a very risky place. You lose, you win. But the most important thing is to ensure that you're winning is more than you're losing. And you are not actually putting in your earning money into this, that any money you actually make is from the system like me.

Is the money you can afford to lose.

Ohh wow.

Like me, all the money, any money I lose. This money I made in the system. I didn't use one never to actually come into this space. I didn't use $1.00 to come into this place. I actually started from zero and I build up my liquidity. So no matter what I lost in this space, no matter what I lose in this space, you will not actually get to my love and actually get angry, but I will just forget it because I know a way to actually make back such kind of money again.

OK, I'm so when I come back to you, I'll come to ask you what you mean by you didn't enter with one layer, but let's allow other people speak first. Manuel, you are up. But please, when you are speaking, I can see some hands up. I will, I will get some of your money when you're speaking, I want you to first Share your story. Please Share your story first before you tell us what you want to say. And thank you, Manuel.

OK. Hi, everyone.

I was talking. My shit gets tough.

But before I like talk about my sugar story, I would just like there's like pimple about it. I'm 2017. That was the first time I heard about crypto from a friend in you know, and that time was around 1000. This guy was literally begging me to pay him to open a wallet for me for 1500 naira. I still remember because because this thing is, it still pains me to till now. So what? 500 naira, that's like 10/5.

The bus back then.

I was like no, because that was around the time MMM happened and I was new to all this online money stuff, so.

And I think Manuel is having issues.

I said no, no I'm not doing and at that time business was around $1000 before we left school which was like 2020, 2019, these guys were already a millionaire like has been traveling the world. So that's one of like one of the greatest things I've ever happened to me and one of my regrets in blockchain crypto wise. So I entered the space after I started like seeing people talking about it and there was more adoption.

Hello.

Can everyone hear me?

Can you hear me?

Hello.

This shit.

We can hear you. We can hear you.

Hello.

We can hear you. We can hear you.

OK. Yeah, we can hear you.

Hello. OK. OK. OK, sorry.

We can hear you. We can hear you.

OK, good. So I entered the space transition which and that time I already know about technical analysis which I was more focused on like Forex and gold and currency pairs. So the money I got them. I didn't know much about crypto so I was putting the money.

Hello.

Can I continue talking?

Yes, you can continue talking. That was a mistake. Continue.

I'm the oldest.

Can I continue talking? I I just everyone just promoted?

Shit.

Yes, you can continue manual.

Is lagging lagging.

Exactly.

OK, OK good. So the money I got from France I I just put it into crypto and by the time I calculate everything, because I I was a newbie, I I don't know what I didn't know what I was doing. I was just putting everything with crypto. This one will pump all this shit going, but it's going to go up. So I put it into it. I started like just and at the end of the day I keep losing money because I have no.

About what I'm doing and what was very painful at that time. So my shaker story that I my time I calculated all the money I've spent over a year was around roughly like 30 to 40K dollar. And it was great because that was actually my savings that I just keep on putting it. Oh, this guy meets a lot of money from crypto. OK I can do this as well without having much money about the space I just keep on buying shitcoins keep on buying rubbish. But at the end of 2020 I I like I.

That my brain reset and I focus more on learning. And I think I I did that for like a whole year, learning about blockchain and about crypto, what entails the technology behind it.

And yeah, that that's mean.

And subject of the matter which is the shaggy where I say and for the second one, because I heard people talking about FTX and Binance, web two and Web 3, not your coin, not your key, not your keys, not your coin. Something like about that I would like to say inasmuch as.

Crypto, Bitcoin, blockchains about decentralization. We still need some amount of centralization in it because institutional clients they're coming from a centralized space.

We're talking about huge, huge investors, huge pieces in the centralized platform. So they come from a centralized space. So you can expect them to come to to decentralized exchange that is not even like regulated or because from from their own orientation they're coming from unregulated background, they needed space and they're putting billions of dollars in these products. So we can't expect them to go straight to the centralization defy and everything so.

I would, I would like those to correct that notion but for for new builds for for web two and Web 3 users it's still easy for them. After a while they can get to know about defy and how it benefits them and the whole the whole ecosystem. But for institutional clients or institutional investors we can't really force them. We can't really like decide for them to adopt decentralization in different it's not just. It's not something I'm saying and.

And moving forward, no, I think our crypto load treated once like about the importance of having centralized exchanges in this industry. We literally cannot do without them for now because when we, when we get out, when when we get our our, our coin from the five, from text, from the exchanges, from protocols, we still need to convert them to real life money, right and in before we can do that to convert to real cash.

It needs to confirm the centralized exchange or centralized platform. So and we know the main main usage of stable coin is from a centralized platform as well, they are regulated and everything. So for now because Bitcoin is still very new for now I mean DEFI and crypto is still very much new. So for now we need to we had to rely on them centralized platforms, centralized exchanges to bring life to our coins because without.

I mean literally our coins is working because we can't convert them to Fiat or human.

So that's my, that's my opinion really. And thank you for the platform. I enjoy everyone's contribution. You guys should continue.

Alright, thank you very much. Uh, Manuel, I'm so I'm GM, I think you're up now. GM, Please, let's hear you.

The menu.

OK. I think Jim is off. I'm in your bunk.

Um, in your bank is alright. Six of you. Alright, let's hear you.

But don't forget, start with your shaky story first.

Reviews, let's hear you please.

Hello, is it me your.

Going to go up all.

Yeah, yeah, yeah. You 6 reviews.

OK. OK. Good day so.

First of all, my shaggy story is not with the.

With the creeps, so, but with the dollar actually now I want to ask the question.

Do Nigerians use FT X? Is there any Nigerian that has these forms on FT? Because hardly do I see Nigerians use FTX.

So if you're in Nigeria and then you have phones on FX, they do.

Do they? Do they do. They do. They do. They do. They do. Many, many Nigerians do.

Do our phone.

So you know of people who have lost who have their funds locked on FTX currently.

Yeah, and how many of them?

OK, OK, OK, so now first my serious stories with the dollar actually, because like, I've been cashing out on crypto since 2017 and I've been stacking up naira.

And now I start losing arrows up at some.

Within the range of 355 to 400.

I know dollar is at around 800, that's double.

I can't get if I want to buy back $2000, I can't buy back the dollars now.

I've cashed out most of my cryptos and change them to Fiat, but I still have crypto. I still have other ones, and the crash from this lunar collapse made me lose a lot of money, but I'm still in it. I've not sold yet, so it's unrealized.

You understand. So what I'm trying to say is that why has no Nigerian been able to come up with their own exchange, even if it's athletes Africa? Because I think.

Most exchanges in.

Now, Africa, like Nunu and other, they are Nigerians, they're they're Nigerians trying to come up with their own exchanges right now, but they have not been able to at least establish it. Their partners, like they start this guy, that's what they call him. Hans Hanoi. Yes, Patricia guy.

It's trying. Not only that one is a Bitcoin you sell to him, so he's not an exchange.

And it's like more of buying bitcoins I'm trading not some future, some margin and all these other ones. So my question is why has Nigeria any Nigerian or?

Not be able to think out-of-the-box and get an exchange done to avoid all this. Some more Nigerians will look into into it even is is is decentralized or CX. More Nigerians will look to put their phones on there in the safe that is in Nigeria that has it and cannot.

Don't bully me.

You can be the first to. You can do it to share, you know.

Yes, I know I can be the first, but we need to come together to analyze all these type of things too. We cannot just be putting our eggs in other people's baskets.

If one of those continue doing that and they will keep brainwashing us, see what happened, we have TX other exchanges we can do better and come together and at least move forward or making our own DX or CX.

That's a good one. That's a good idea that will really help eradicate all this fear of.

Having funds on exchange and.

It was in the forms on the long run due to crash and they don't have enough liquidity in it.

Alright, alright.

That's all I have to see on my finger. Story is not with crypto at all. I don't think I've lost how much I've lost on the dollar.

All right, all right.

With crypto, I cannot lose that kind of money. In crypto do we have lost in the dollar now?

Yeah.

Because you are wiser with crypto. We're done.

Yes, and whether I've lost, I've lost. I've lost on crypto. But now the dollar is crazy right now from what I've been trading in 2019 accumulating now. I can't get back those dollars now again because I'm stuck with the naira.

You can see.

Like that that's that's right. That's right. Alright. Thank you very much six of you. So please if you want to speak you can visit your and so it's easier for us to I didn't notify that I understand that you want to speak and we just quickly allow OK. I wanted to allow Zen but Don Pedro has been up since and operator has not spoken. So the operator was speaking after the Pedro listen from listen to Zen and then manual right don't pick you up.

Ohh alright, thank you. Thank you for giving me the chance.

Umm, you know, I'll just go straight to the top peak of the space being. What's your crypto challenge like?

Please. OK, yeah. What year? She gets to you first?

Yeah, yeah, yeah. Like what? Shaggy cryptograph shown that kind of a thing. My own shaggy. I've I've seen my own shaggy before. Like before now. Like the shaker I've seen before. He wouldn't be gathered. They won't have seen now like this. This current one didn't didn't hit me that much. I've collected my own shaggy before now, but back in the, I think 220 during the.

Yeah, yeah, yeah, 2:20 and then towards the ending of 220 and beginning of 2021 during the shitcoin season.

You know how you spend a lot of money on shit going? You know that kind of mindset of waiting to waiting for a particular coin to hit 1 naira $1.00 those kind sheet mindset.

So like.

I watch My Portfolio grow and crash down to zero. Like that's the worst experience I've I can I've ever had in crypto. Like the worst thing you have ever seen. That is my own shaggy cause put those money cause I I stay in particular area in Brazil, try to make up some phones, you know?

Go to another area like to come and because my own problem is that I didn't come down to to to learn crypto. That is why I lost a lot of money. I won't lie because I just feel like I have made a lot. Like my friend has been telling me about crypto keys. Now I have stuck up some phone let me let me chill and.

Focus on this so that uh someones Mike is on.

Let me.

Let me focus on this and see how far I can go. So due to lack of knowledge and at the end of the day after buying shit coin I watch My Portfolio go to thousands and crash down to zero. You know waiting for Naira to come that can my sets. So I would say this is my own shaggy story because the current crash like this recent crash even like because of the market has been down during this season I've I've removed all my phones.

I placed him on Dicks like sorry and placed them on non custodial wallets and unstable for the past three weeks. Like even before this. I just be watching the market, you know, listening or looking, watching everything, listen to what's going on in the market. That's what I've been doing. Like if there is any chance of arbitrage, I'll take advantage of it. I don't like I just stay away from trading because.

I would. I just watched the market going in the one kind of like making one guy movement that I don't understand anymore. It's not though I've seen it before, but this one.

Is not normal to me anymore. I watch a lot of projects going down, going down, going down because the she goes in before. I don't want to see it again because the level I am now, I can't stand to go back again. Honestly, I can't stand to go back again.

Alright, alright, thank you.

So like so I would just want to add a little thing to concerning this crash.

Yeah.

OK, OK. Please brief.

Yeah, I it's true. Like we all. It's true that crypto crashed.

Through the mismanagement of fund from FTX and all the rest.

That is nothing like that is not the main part we like. We we just overlook the the like overlook that there are some all these newbies coming into crypto.

Because to me, I believe there is difference between 2 industry and two two market. Honestly, there's a very big difference. There is crypto market and there's crypto industry. The industry is growing so fast, it's growing every day. New technology, new innovation, everything. But the market is just down. Newbies coming into the market, they are just into the market to make money.

You don't even understand it like our problem is.

Like coming down to like newbies, coming down to understand or learn what the space is all about. And all these movies, most of them come in through because me, I can even call myself a newbie because it's not been long. I joined Crypto, I think, yeah, 219 four. I started everything in 220.

They mostly come in through them, centralized exchanges and even decks because they make more use of their pancake swap, buying everything they see, everything they can think of.

Why? Because of lack of knowledge.

I know I can even watch the market and see O see this happen. This might happen. You can easily just put all funds to stable you understand and keep yourself safe.

You understand?

FCS crashed and everybody is blaming a some people are blaming Binance, some people blaming some individuals, some projects and some. We are talking about regulation sound light already to regulation board and everything even before, even even if there is regulation, strong regulation already.

He would still lie to everybody like useful stuff happened because of mismanagement of funds and not telling the truth. Like you, he's not transparent about FTX and everything. Everybody is blaming seizure. How me? I'm even thinking gold about season. Because if not for him, this would have hurt us more deep. Like more like this crash might be more heavier than it is now because he will cover up that. That loophole, he will cover cover up that.

Leakage.

If not for the season, he said himself, he will cover it up and write down on the long run.

Like because the more time he waits, like he waits to to open up, the more hole, the more leakage.

Then when it will come it, we will hit us more than it has taught us. Now. Like to me, I'm I'm happy that she's opened up to the public and said this is what is happening. And we started seeing it now because I'm sure that we within a couple of three months, four months or five months.

Everything will get back to normal to me.

I just feel like what's happening now is just clearance.

Errors like this thing will happen. Most projects will die, most indoor, most exchanges will crash down and we know the ones that are serious and the ones that are ready to build.

Even help you these things happening now at least even in less than six months, everything can easily go back to normal, you understand? So that is what I have to say about this. Thank you.

Alright, thank you depedro. Thank you very much. So you say everything will come back to normal and Elias Speaker said we have not seen any shaggy yet, that's very interesting.

That's what I see. That's why it's just a matter of months, you know, because if this thing had not happened, I think it would have been more crazier than it is now.

Love you too, baby.

You know, starting in a couple of two months we'll see more shaggy normal, but 5-6 months we, yes, we will be able to know the ones that have loophole, the ones that have less reserve and insolvent once they will go off and we know the ones are serious to build. That is what I have to say.

Alright, thank you, depedro. So this is a matter of, according to the Pedro, this is a matter of separating the chaff from the wheat. Thank you very much. So we'll listen to Zen then followed by Solomon. I know you guys have been raising your hand, so just quickly listen to you guys and thank you. Then you're up.

Yeah, it was good. So actually just wanted to piggyback to what season Rails actually mentioned earlier. So of course a lot of people were affected by the FTX. Next coin actually dropped like an official statement of of them. I'm having a lot of their treasury in FTX and next coin is actually a big company also like in Nigeria, building metaphors, gaming and and they also like the guys behind bundle.

And one of these reasons because of course FT X was also an investor and for FX to be an investor in you, it was like required that some of your treasury was kept in their in their exchange. So and I'm pretty sure next coin is not the only affected African companies you get. It's not the only companies in Africa that have been affected. So and I'm pretty sure over the course of the week and months. I also had like rumors about cheaper cash as well over the course of the weeks and months, will pr

Also he mentioned about why is it that they are not like Nigerian companies centralized exchange of course as at today, as at today we're having this discussion crypto is still not a recognized asset in Nigeria like a recognized federal assets in Nigeria. Whether we like it or not it's still, it's still, it's still not accepted in the in the, in the global, in the in the 2000 scheme of things you understand so and there are.

These guys who have actually tried to, I remember when I came into crypto bitcoins we actually doing significantly good like they actually onboarded a lot of people into crypto. But when your crypto ban happened of course they have to like move base to London and all those kind of things they we know where bitcoins is, companies like bundle, quadax, even though they are running operations underground, they cannot do mass blown adoption because at the end of the day until crypto becomes regulated

In Nigeria as a recognized assets, I don't think we were able to like have guys who will push the boundary. Even guys like Patricia that you have mentioned, these are guys that have had to like pivots had to move their their base to other countries just making Nigeria a a single arm of their crypto operations. But of course over the years I'm pretty sure that people will come up and spring up and cause like just actually talented. But whether we like it or not we Nigerians are elitists like I as

Or in the NFT space, even more than the five. And I can tell you there has been a lot of NFT projects sprung up by Nigerians that didn't do well. Once people know that Ohh is a Nigerian behind this asset, we have this mindset that ohh is synonymous to scam, you understand. So whether we like it, we are still kind of elitist in the sense that we prefer to give our money to the white man than actually like oh trust put our money in the trust in the in the hands of the of the Nigerian. So yeah.

That's just my Dick on that.

Alright, thank you very much then I'm Suleiman I'm you wanted to say something.

OK, so.

But Solomon, hold on, please, please. Sorry you haven't shared us your shaggy story. Please share, share your sugar story, what you've experienced with crypto when you just started out, before you had the knowledge you have now. I'm just share with us something so that we can all relate to you. Thank you.

OK, I started crypto late 2015 and I did my first investment 2016 when BTC was like 120 K 120,000 naira.

And in dollars it was like 300 or $285, 2016 around March, April, they're about.

So um.

After the first Bull run, two 17218 was the the first time I was experiencing the bear market. 217 was the first time I was experiencing the bull market. I didn't even see it as a bull market then because I didn't know they were bulls and bear markets. So basically I didn't know.

But 217 was the first bull market experience.

Tweeting was the first bear market which extended till 2020. Now one of my greatest loss was in 218. Yeah, cash wise that's what the greatest loss 2218 and it stretched to about 6 figures, was definitely 6 figures. So that was the greatest loss. Then this year I see experience like huge loss still stretching to six figures too, the second bull run and this was largely because of the trauma crash.

And followed by this FTX crashed.

When you say 6 figures, do you mean in naira or in dollars?

In dollars. In dollars.

Yeah, I'm done.

Ohh wow. OK. Also please quickly explain the bull run and the bear on what it means bull being the when his things are going higher just quickly just for people that are not very technical with these terms. Thank you.

OK, so 2 two 17217 was like my first bull market. Everything was quite exciting because I we we started to 17 January 217, we started with Etherium being around $7.00 and the light coin was extremely cheap too as a den, but there were other assets then some newer blockchains like new NEO was around 10 cent 1020 cents. Then to buying some of these assets and six 7-8 months after we watch the terrible from $10 to.

Over $1000 by January 2018. April was like 1308 thousand $400.

So that's a bull market, right?

Yeah, yeah, yeah. Basically.

I just needed you to clarify that for people. Other people, right?

Yeah, yeah. We're whereas now after seeing that and you, you've witnessed your portfolio has done over 1000% like your portfolio what you invested, let's say you invested about let's say invested $500.00 and it has done 1000% taking taking the amount to $500,000 and you think you need to continue like that to 18 only to start seeing everything crashing. You get, you watch everything crashed down to about 5 kiddos or 10 kiddos.

They're about that was like the bear market, which stretched from 218 to 219 to 2020 then before when I started seeing the bull market again from November, December 2020 and it ended January this year, obviously. So that was like my full circle of bull markets, bear markets, another bull market and another bear market right now. So basically it wasn't a funny experience, but the truth about it is.

There is no way. There's definitely no way you explain this to someone that the person will be able to understand it or learn what you have learnt or take precautions that you will take in this next bear market. Anyone that did not experience it, if you like, the person should watch a Netflix series on Bull and bear market. The person will never understand how to better prepare for it. I can guarantee you that the person will never, like never ever ever understand how to be able to prepare for t

Someone did say something about them, the whole idea of crypto being decentralized and or yes, that's 100% the idea of blockchain and cryptocurrency to be very, very decentralized. But then again, decentralization comes with a whole lot. It's pretty technical right now because we're still in the very early stages, extremely technical. And that is why I said that companies, VC's and all they are, they are tilting to.

Bringing down the entry level, let me give an example. Everyone here should have made use of a PC before, or a laptop or something. Now, if you ask yourself how many persons here have actually interacted with command line? How many persons you have made use of command line to like pass information to the computer, probably create a folder or save the file, or put an app or something, you'll notice that it's barely 1% that have done that. Even those that started using PCs 10 years ago, most of th

Think of that command line like interacting with the core blockchains. Think of it that way. To be able to onboard the amount of people that we need in crypto, or on board at least 70% of the world's population into crypto, we need to give them a soft landing.

Very, very important. And giving them that soft landing simply means taking away most of the full functionalities of that decentralization for them, because you're giving them a second layer to operate from, like a centralized layer, because I bet you.

Imagine everyone here. You asked them to go and secure their phones themself. You get most people will even lose that money before they even start securing it. Why?

Everyone here makes these phones. Everyone here most likely might have a PC or a laptop or something. Most persons laptops here it's actually corrupted virus. They don't even know. Most persons don't know that you.

You securing your wallet, you keeping your private keys, and you making sure that your wallet is safe and handling all the security and all it is extremely risky when you're not knowledgeable in the computing world. Extremely risky.

For example, the the phone that you're making use of the interact with your trust wallet meta mask and it should be a different from phone from the one you're making use of to do WhatsApp, tick Tock and Snapchat and all of those stocks. Ideally it's supposed to be a different phone. How many persons are doing that?

The laptop you're making use of the save your private keys and other stores. It should be a different laptop from the one you're making use of to connect online. How many persons know that? How many persons will even do that? These are the things. Now when you start teaching some newbies about custody and all of those stores and you teach them very well, most of them will still fall prey to hackers. Most of them will go to platforms and sites and accept cookies. Most of them will go to some plat

You click and copy to clipboard. When you copy something to clipboard, it is saved in your phone. Anyone that has access to your phone, a website or something, they can easily steal those information. Most persons don't even know how to encrypt their private keys you get. So people are generally extremely careless. Very very careless.

That's just the truth. So most times you don't see that.

Sorry for interrupting it, sorry for interrupting.

But.

Say please. Hold on. I'm awful. You will get you very soon. Please, if you want to speak, you can just like raise your hand and get you. I'm sorry, man. Please just round up. Thank you very much.

Yeah. So inasmuch as.

Specialist.

OK.

Two is for decentralization which is what I preach and everyone should have custody over the forms and all looking at people's Foundation, People's Foundation and understanding. And most persons are lazy with the extra mile, most persons are extremely lazy and most persons they have huge knowledge gap to feel not based on blockchain but based on prerequisites that actually required. Before you can start doing this, you will notice that it's actually more of a threat to most persons.

Don't like?

Yeah.

Having their own custody now, that that not, that notwithstanding.

I want.

Someone's mic is on. That notwithstanding, we need to also make sure that for the platforms, there were two platforms that would be there to give people a soft landing to see access crypto products and on board the greater population. We need to make sure that those platforms are not taking advantage of that. You get them accountable. We need to, we need, we need to set some rules and regulations.

I don't know.

Kinds of framework that those platforms can work within because like it or not, this is just the gospel truth. Like it or not, if you eliminate all exchanges, all exchanges, assuming you eliminate all exchanges from 216 or 218 till date, we definitely wouldn't have gotten the level of volume or adoption to an extent that we have currently in crypto. And lastly, lastly, the technology itself.

Hasn't reached the point where we can easily empower and onboard as much persons as possible easily to the Web 3 space. By that what I mean is your smartphones, your operating systems currently, by default right now they don't support web three you get by default, but we're getting there.

By getting there and says I look at Brave browser. Once you download Brave browser now you can easily open a wallet through brave browser. So we'll get to that point where even your Instagram, even your phone, your Android phone, your Samsung phone, it comes with a wallet that way. Now it because we have got to the point where to be extremely easy to onboard as much persons as possible to the web 3 space without compromising or without bridging them to pass through web two. So that is what I jus

Alright, thank you very much.

So yeah, apple.

I think we just give you the time to speak, OK? And both, please, once again, before you speak, share your shaggy experience. What have you experienced with crypto or something that that can actually make us laugh actually when you didn't have much knowledge about crypto?

Get up.

A full phone? You're up.

What about? I don't know.

OK. I think we just move on to six of these was also raising his hand and we're also here from Crete.

OK, OK, OK yes I I I want to speak. There was someone saying something about hacking and getting your phones and copying from your clipboard your 24. Let's freeze.

So like, even if someone has access to your phone and all of this, how does he know what app? Like what is it matter mass? Is it rose that you're like holding your money? If you have seen this swift reason, he cannot move on with his action unless he knows you and he knows the wallet that he knows. That's the only way you can be threatened or unless and unless you connect your.

So like to like order platforms that accept Connect wallet, that's when you can be moved off all your phones. And also someone was saying something about crypto not being regulated in Nigeria and crypto not and Nigeria not accepting crypto Nigeria did not stop crypto trading. Crypto trading is still on in Nigeria. What they said was was just to stop the bank from facilitating payments.

That that goes with them. Well, cryptos. That's crypto payments.

Um hello guys can you can anyone get me? I don't know if my network is disturbing or is it that I cannot get anyone again?

So I put on, hold on, we can hear you now, but you just have to just wait for six hours to finish speaking. Then you you come up here. Thank you very much. I'm six. I'm just wonder please.

OK, so the Sybian governor said that he said what he said essentially was not to stop crypto trading or PC allowed in Nigeria people peace, they allowed and all of other things that they allowed. It's just that burns. So facilitating crypto payments and crypto accounts that deal with crypto.

No.

Nothing personal accounts to that's a business accounts that deal with crypto. If you stop facilitating and doing business with them, others will close the account and totally what happens. See someone make sure that fizz being there the key to crash.

Are you?

That being the key in these groups, groups in this FXM cracks. First of all I only say Binance was hacked 580 million.

Because everyone.

Just a month ago they announced that they were hacked and they posed all the BC as the Binance smart chain activity because all everything because of the $580 million hack reports everything.

So.

During the end of October they came again and announced they are closing in on finding the identity of the hacker.

And just.

Then again, I read the trade on Twitter before the three days of being before we enter November. That.

If you like.

The farm was that something that the sound back Friedman that is the owner of FX with the one that masterminded the 580 million by now hack.

And.

So, she said, retaliated.

Now me.

Who's?

They can continue.

Full season.

OK, so since that retaliated by announcing that we have sold his stake in FT, FT that is FT token.

That this years took him he has and he announced that he so distinct that he knew that he knew that Sam was the one that that masterminded the hack.

In October, so he announced that they are so distinct in the sense that he knows the kind of.

And this thing, that's kind of palsy, this guy is running, that's SBF is running, that's the owner of FDX is running in the thing that he knows what he's doing. He was doing a flywheel.

Something like a Posey, but she's legal, but it will eventually, eventually disrupt the whole blockchain sometime. And what people are angry with you said about what are people I'm angry with? Is that about them? Is he saw that the hack was done? OK, let's assume he is. The hack was done by Sam. Why did he announce in a bear market where Bitcoin is trying to struggle and climb back? Why did they announce that he has sold his stake in AMC causing all this?

So you know you can see, you can see in all this that sees it.

Was not because some happening.

He retaliated by announcing that he issued the stick.

And all these problems started happening. So that's what I want to say. I'm about that crypto trading in Nigeria that it's legal, but.

It's not by the banks. You don't have to, you don't. You don't need only the banks if you are dealing with crypto nowadays. If you have someone that that is dealing with crypto like.

Like if you go to shop and they have 50 group two there you can pay with crypto. They are like if you want to buy a phone nowadays people that buy iPhones and all.

It being crypto, they don't want to go to naira or stop. They don't go as the seller. If it's accepting crypto one, it pays. So that's it. That's all I have to say on this. About the crypto trading, I'm more concerned about that. Thank you.

Alright, thank you. 6 um. So um before we listen to Solomon we just quickly hear from Daniel. Daniel you ship like we have been saying, you share your your shaggy story 1st and then you tell us what you want to see.

Daniel.

Alright then. Good afternoon everybody. Can you guys hear me?

Yes, we can hear you, Daniel.

Alright, good afternoon. Um, Sir, thank you for this opportunity to speak. Alright, uh, my shaggy story. So I got into the crypto space last year.

And I invested in Luna. That's why I'm a newbie. I invested in Luna and so I go wrecked the bear market.

Uh, funny thing is. Um.

I invested quite, Sir, no.

A good amount of money in there like so, so millionaire in there. And I'm married. I've got a kid and you know I, I, I I got into it because a friend right who I considered to be is quite big in the space. You know I had spoken to me about it right. And I was, you know, I guess I was I was you know seeing the the whole craze on online and everybody's posting this that crypto this crypto that encrypted that's all.

That's how I go into the crypto space and lose that amount of money. And you know, after I lost it, I that's when I started doing my research, which was actually wrong. I also have done my research 1st and you know, invested my money in it. But I guess I did. I did, I did, I did the other thing.

So I lost the amount of money and I started doing my research and some things came to mind, you know, I said I started looking at some things.

First a I noticed. I don't know. Can anybody hear me? Are you guys hear me?

Go on. We can hear you, so we can hear you, Daniel.

All right. And so I signed in some research and first I thought, uh, the crypto space, right? The whole cryptomarket was a financial bubble.

I'd stay, stay looking at how the fundamentals, you know, matched with the price and now it's moving.

I I go really you know, after after I saw that, I.

Yeah, I got really. I got really scared thinking I I I got into this whole thing at the whole at the wrong time.

You know, imagine getting investing amount of this that that amount of money in.

In a bear market.

I didn't even know in the bear market. After, after the whole thing, I started calling this guy. He didn't pick my clothes again and.

I I just don't know. I just, I just feel, I just feel bad now. And even if there's still hope for the whole crypto currencies, please.

That we should thank you for this opportunity to speak.

Alright, thank you Daniel from if you have been following us.

From some of our speakers telling you that they're still open, a lot of things will still happen that this is from my own perspective, a lot of things were still happening. This keeps the space. Many products still grow on the bull markets, many products still drop and there will be a lot of fluctuations and all that. But then at the end of the day, the weed will be separated from the chaff, right like this. If you saw the pink twist, the pin tweets out there saying that.

And if the guys that actually made any projects actually made the whole?

Right, but now that Alameda has had issues.

Some of them would have to leave this place and then you still keep seeing a lot of the shuffling, more clients will begin to come up. And someone also said that version we wanted to see so very accessible. I actually agree with that, that would be very accessible and will have it as easy as possible, not just you know have to have some specified platforms for.

Instagram is now supporting NFTS. You can now create and sell on Instagram or it's coming, it's coming very soon. Twitter is not allowing you to use your NFTS as your as your profile profile picture. So I think that or I'll see the space is still very much large. In fact the opportunities are very, very numerous. It's just like when the Internet started and we had Microsoft and we had very, very bulky computers. Now the computers are so diverse and so.

For Internet or there's no more space for computer company, so it's just what it is. Though still below modifications. Projects will come up, projects will crash, we will still lose money. I don't know them, but people will still gain money as long as you are willing to invest the right information.

What's a financial advice?

So leave it up to Solomon. Solomon and you can just quickly share your two cents with us.

OK.

OK, I just wanted to. I think I'm is 6 on reels. He said something about them how something I said. He made reference to what I said about him.

Keeping your private keys and all, it makes some comments about that, so I just wanted to throw more light on that. So basically you holding or you protecting your wallets or having custody over your wallet simply means you're the one with the private keys or the numeric phrase or whatever, but you are the one that owns whatever the hacker needs to access that wallet. Now how you preserve your wallet or how secure your wallet is is dependent.

On you now I'll say it again. Most persons have little to no technical information or knowledge on how to prevent themselves from hackers. You see people, these are the things that can expose you to these risk people stealing your private keys and all. You see people visiting all kinds of sites you get with the same phone that is saved their private keys on you get. You see people save their private.

He's in a laptop, maybe in a doc file or notepad or something, and they are making use of that laptop to connect online. And that laptop has your private keys and you're making use of it to connect online, isn't it? To connect to Wi-Fi devices that you have no idea who the owner is, public Wi-Fi devices visiting any kind of site you're exposing yourself. It takes less than 5 minutes for a hacker to get into your laptop.

Scan for whatever he or she needs and steal your private keys. Takes less than 5 minutes for that to happen. Even if you write your private keys somewhere. Unless the best way to keep it safe is if you write it down somewhere and you store it offline, multiple locations, that's the best way. But provided that your private keys is on a device that you use to connect everyday online and you did not encrypt it in any way, you did not encrypt your private keys in any way, and it is on your smartphon

Or any laptop that used to connect online. You're prone to hack. You're prone to someone getting access to that private keys and stealing your phone. The person does not need to know you.

The person doesn't need to know. The person doesn't need to have access. Physical access to your phone or physical access to your laptop or whatever. No, the person doesn't need to do any of that. Just by you going online, you've exposed yourself. So that's why I made mention that.

The best way, the best way?

For you to be able to prevent all this stuff says ideally the smartphone that you installed your trust wallet or your meta mask or your coin 98 or any other wallet. That smartphone. You're not supposed to have your WhatsApp or other applications installed in that smartphone. That smartphone shouldn't be the smart phone that you make use of everyday to do Tik, T.O.K videos, Twitter connect online and stuff like that. Playing safe. You shouldn't use that same smartphone. The same thing applies to

Has your private keys, or that same laptop that has your private keys to connect or do your day-to-day browsing and online activities. It exposes you.

OK. Excuse me, excuse me, excuse me. Yeah, you're referring to what we're communicating?

OK.

And and finally I'm fine.

Um, so six of these, please. Just hold on. Please just hold on. We'll get to you, Solomon. You can just run and then we'll listen to Samuel D then we can listen to 600 years, please. Thank you very much.

And finally, yeah, and finally the very best way to secure your funds if you ask me the very best with that I would recommend to anyone to secure your funds. It's either you make use of your multi SegWit wallet, you want it online, you can make some remote SegWit wallet or you can make use of the cold storage combine nano Ledger or Trezor wallets cold storage. That way you know that it's only when you're connecting it online that is.

And it might be exposed. And even when you're doing that, you know you have the physical device that you're making use of to confirm or cancel transaction. For those that don't know, 2018, right, yeah, 2018 I think was it treasure or nano? He had wallet. It was still hacked. How was it hacked? There was a bug that was sent online that when you connect the wallet, when you want to send a transaction, you want to send Bitcoin or Bitcoin Cash or etherium or whatever, and you paste the address and y

Somebody to prompt on your hard wallet, which is like a USB or a token, and you click approve on that hard wallet. What this stuff was doing now is when you copy and paste your address. That's code that was sent by the hacker as you copy. What it is pasting is not what you copied.

That was the loophole for the hack.

But you, you copied a wallet address that started with, let's say, 1234.

Are you pissed? But what's the spacing? Is a different wallet address that is nearly 2231?

That was the loophole for the hack. So technically speaking the hard wallet wasn't hacked but your system or the device you are using to interface with the hard wallet was compromised and so many persons lost their funds via that. So this shows you how far hackers are willing to go most times even the softwares you download online to your PC and all they have, especially those free or hacked version of their cracked, rather sorry cracked version of the software. Most of them they have those.

Tiny stuffs there that's gonna actually sticky. Loggers and all, and some boats that can be running within you.

Looking for stuff like this so you can ask your question now.

Alright, so hold on. Yeah, we'll get to 600, but I want some of the some of duis, yeah, to to speak. And once again also remember that as you are about to speak, you share with us your Shaker story.

Uh, what have you lost to crypto? Um, what has been the most ridiculous story crypto story you have just shared with us? Let us laugh a little bit. Thank you. Then you can share what you want to say. Thank you so much. Your hope.

Hello, guys. Good afternoon. Can you hear me?

Yes, we can hear you.

My name is Samuel. Actually I've been in involved. I've heard about crypto since like 2017 like that. But I finally got into crypto early 2020, just before the lockdown started with maybe around $5000 or something like that. But you know, during the crypto I was trading, making, making more money, making money, making profits, but during that.

Time of the lockdown you discover that all these cryptos started crashing.

Right, it crashed and crashed and crashed. You know Bitcoin go to like 3000 I guess $3000 and all this. I didn't even take profit, but the funniest thing was that during that crash.

I try to hedge myself by going into futures, Futures Trading and leverage.

So I leverage, I started doing Futures Trading. I leveraged it and I thought, you know, that was the lowest it was going to get. I think I I started leveraging maybe BTC at maybe I think 6K. I thought that was I leveraged with maybe around $2000 or something like that using 10X leverage. And before you know it, I just started seeing liquidation, liquidation, liquidation. I lost basically almost everything I had.

But then you have to grow back up again with maybe $0.00 air drops and all those kind of stuff and build it up again. And even the funniest thing, even during the NFT season, another shaggy again. I minted a project I think is is not reptilian Renegades or something like that. Are you guys hearing me?

Yes, we can hear you.

So I wanted a reptilian Renegades and you, you know, the owner of that project, actually, you know, Iraq, the projects lost some funds. So basically that's my secret story.

So moving on to this issue of Sam Bankman freed, you know, FT X, whatever, whatever and CZ.

Some I've seen some, you know people putting blame on you know sees head of Binance that you know he's he's he's his fault for going public you know saying he's going to sell. But if you all have been following this issue especially this guy Mario Nafas or space which Elon Musk consisted attended, you will notice that CZ has actually been trying to talk to Sam.

About some of these, some of his concerns, but he is not listening. He keeps continuing with what he's doing and he had no other option than to what to go public with it and dump.

Because if you have done the $580 million worth of tokens privately, people are still going to blame him and say he dumped on new users. That's the that's the funniest part.

But.

This shouldn't have happened. It's all SB's fault. It shouldn't have happened in the 1st place. Is leveraging or is loaning out customers money he's not supposed to even touch? Customers deposit because if they're even going to look at it.

FT X is the second largest crypto exchange after Binance. It's basically the exchange that nobody would have thought would, you know, be involved in all this kind of bullshit because, you know, he was close to all these regulators and US and the likes.

If I were thinking of OK crypto exchanges that might crash, you know, might be thinking of, you know, maxi by beats and all those smaller smaller ones but not FT X. But it happened. And thank God that since I did it fine crypto is going through a hard time right now. But I think this is the time for.

Us tribute and to learn from some of these lessons. This is the time for you know to embrace transparency and also to weed out the bad actors. I think crypto, crypto will survive. And right now I listen to you know people saying if you store, store your coins, withdraw your coins to you, you know your wallets and all those kind of stuff. It's it's actually a good development. But the problem is this crypto needs.

Mass adoption and mass adoption doesn't work with self custody. That is, you know, saving your coins on meta mask or using pancake swap or stuff like that. In order to onramp users from Fiat into crypto, you're going to need exchanges, centralized exchanges. You can't do without them. That's that was how I got into crypto. I got into crypto, not true or index or whatever. I got into crypto by buying.

On local bitcoins by going to what's it called Binance and buying. That was how most of us got into crypto and that is how you are going to onboard new users. The liquidity on Binance for example is way, way higher than some of the liquidity that you can get on some of these decks.

So if you're going to say oh let's self custody wallet, it brings another problem. Most of the people getting into crypto don't have the techno technical know how to protect their funds. You will have had cases of many people their wallets getting wiped, you know people having coins on their wallets and using and collecting their wallets to maybe for an air drop or to claim something and they are well it gets wiped or some.

People even back up their.

Ohh what's it called? Private keys onto Gmail account. You know Google account, their Google account gets wiped and you know their Google account gets hacked and they get you know the info I believe. Ohh I don't know who talked about.

Keeping your keys offline, I think that would be the best idea. And you know maybe writing it down in a book and keeping that book safe, that could be good. But also there needs to be what I would call what I would call crypto education for most of these new users. I don't know if you guys can, you know, collaborate on maybe some or a blog or a YouTube series especially for Nigerians to educate them that.

Crypto is not a Ponzi scheme. It's not a get rich quick scheme. There is a technology behind it and there are technical analysis and fundamental analysis that you have to do. You don't just go and pick up all the shit coins or all the meme coins that you see and expect them to pump, you know, 100X or 1000X. So well, I don't want to speak too much, so maybe that's just all I have to say for now.

Yeah.

Now.

Yeah.

Yeah.

Alright, thank you very much Samuel, just to inform you as you said take a code actually has such plans in the works, right. We actually have, we actually are coming up. We're working on a crypto series to educate the market, more users, more Nigerians especially an Africans, more about crypto industry, industry and how to be involved and also shed more light on how it is not his camp, right, it is not a scam and then you can people are making living.

There.

Yeah.

OK.

Like.

Meet and you can be a part of it or do people are still losing money from it. I mean what business don't you do you do that you don't lose money. You lose money from even keeping your money in the bank. You lose money to inflation and whole lot of other things right. You just need to educate yourself with the right resources and the right platforms and yeah thank you very much for bringing out of. I just had to put that up. So I would also I'll give the MIC now to customers. Customers would like

Tell us what you want to say. Thank you, Cosmas you hope.

OK, good afternoon. Ohh, I'd like my sugar story started in 218.

Sorry, hold on, hold on. Cosmos, please, um, so anyone that wants to that wants to speak, you can just send a request notification and I will pick it up from there. Just send a request to speak to be a speaker here and you come up here to speak. Thank you customers. You can continue.

OK uh, my check is 30. Uh, started on 218. Yeah, 218.

The major thing is.

Education, education in cryptocurrency is the major thing. So IN218I raised up one 50,000 like all these Bitcoin and cryptocurrency came in my mind. I'm hearing my friend saying hey invest in crypto. There is a lot of money, there is not a Ponzi scheme. So I invested 150 thousand to my friend. Like I'm seeing his post in Facebook posting about Bitcoin. They gain everything. Everything. I was so happy like.

How do you how is making profits so?

I bring one 50,000 like this thing that was running that time is Luna. Yeah, Luna. So I give them my friend. I sent him 150 like to invest the money for me, like I don't have any knowledge. Like I trust that friend.

So I gave them my friend one 50,000 to invest for me. So later on he sent me everything to my WhatsApp like like he have invested everything. He screenshot and showed me I was happy like I'm having BTC in my wallet like he even sent me some password to Luno, said that I should download Luno, that I should put everything that I should look for my dashboard. What I'm seeing there was just a binary from 0.0000 something when I look to the dollar.

Is like $2. I was happy like one $50,002.00 because of lack of knowledge. I don't know I was happy I see BTC that I was happy yes yes I have BTC. So later on inside the social media again I was seeing people say Bitcoin is skyrocketing Bitcoin is skyrocketing everybody go and take your profits. Like if you're really if you really in Bitcoin the Bitcoin have do 10 eggs have do all these things.

I go to my Lenovo network to check I'm still seeing the binary from 0.00 something. So I was I see I invested 150 thousand like yeah everybody is saying that Bitcoin is skyrocketing. Bought my own is still dormant. I called my friends Peter. Why?

And Bitcoin is not moving it's still dormant like what happened? What actually happened? Do you invest or do you you say OK look to your look for your this thing that he's reading. Look for the binary from the don't you see $2.00 day I see 1 from 50,000 that I give to you why $2.00 he say Bitcoin is we still go up just for me to exercise version. I say I bought saying that crypto is allocated and why is my own state dormant?

They gotta say I should wait that he still he. Maybe it will be network that it will still reclaim. I kept quiet. So later on I met one of my friends. Like I checked this my account like I give someone one 50,000 to invest for me like. But what I'm seeing there is the $2.00 he said these people have scammed you. That's you just take your money. Just this thing that you're seeing here is not real BTC. Just open a door account for you my friend. I collapsed.

Later I called my friend say why do you take my money that you didn't invest. The guy blocked me. Pata. Pata I don't know anything that's 18 to 219 to I just move out from crypto say I will not do crypto easy policy scheme like like.

So along the line.

And I think on 2:20. Yeah, on 220, I started in like another friend came. Hey, but you know by this one here you still know by this one is still low. Like if you put like 5000 or 10,000, this one is still one cents. Like if Byron came, it will move from 1 cent to $500.00. Check by 50 pieces or bits. 100 pieces. Like OK, Thanks, 1000 * 50 pieces. We'll see how much you are making in this memo. Currency. I invested another 50,000.

In memory card it's like buying rubbish coins due to like why I'm pointing is this, this things out is because due to lack of knowledge like this space needs for for these newbies that is coming into the system for them to be educated, for them to understand the blockchain technology. They nudes, how it's work, how it's being worked and they've written so invested that 50,000 in those meme coins without knowing the knowledge, how things are working, how things is being moved, how you can make pr

So everything, both 150 thousand, both 50,000, everything was liquidated because of lack of knowledge. So this is my shaggy story. So my advice is that if you are coming to this space and if you are in Ruby or if you are trying to invest without you, we know that there's blood in the streets, but now is the best time to position yourself with projects, with project, with good utility.

Yes, you buy where people are, you buy tokens. We have people being fear where there is fear in these streets.

You buy tokens and research is the major thing. Research. Thank you.

Um, thank you customers. Um, so I'll let quit BTC to take the mic and quit BC also remember, share your sugar, sugar story first, then you can share what you want to say followed by ceremony.

Be something. Thank you so quickly to see you.

Good day everyone.

Firstly, I think let me talk about the guy that's saying that's Nigerian like African town we should have.

An exchange of their own.

I noticed one thing among we black is that we we have trust issues.

What do you mean?

We, we, we have trust issues like you can expect.

Probably. Maybe.

Yeah.

Someone created an app and name it maybe anything he feels like and at the end of the day and you hear the Finder of the OR the CEO of the particular hub is a Nigerian.

The first thing that comes into your brain is like they end up going with my money or probably the entire people money because you don't even know. It might just be maybe probably one of these fraud guy that decided to to to just create an app.

Customize it and make it look legit because these days have been seen so many.

Scam website that looks exactly like banners and they tend to force people in that they should refer people and they should send in dodge. That's the more they refer people that the more they get more coins, stuff like that. All those kind of.

Trashy stuff. I've seen a lot and I even have the website and people come to me and they'll be like they ask me create what's up this website and I'll make it known to them. Don't deposit your funding. Today's it's it's a total fraud because the website they are not even looking legit. So you can't expect someone that has been scammed with a website like that to still deposit his hard earned money in.

An app owned by a Nigerian again.

So basically for me in in my own preview for.

Also, having a Nigerian app, that's gonna be a centralized exchange, it's gonna take like probably.

So many trust issues like I really don't know how to how to express myself on that, but it's it's has to do with a lot of work for you to be able to to create an A Nigerian app or basically for Africa and even other other African countries are always afraid of of Nigerian. You can is anybody listening to me?

Hello.

Yeah.

We can hear you very well.

Quit with you.

Yeah, yeah, yeah. Like like like like I I have traveled to so many countries and.

So quick business, you can continue speaking.

Mistake.

Creed.

OK. While we wait for quick business to come back online.

Money I'm so please be informed that will be.

Hello.

OK. Could be to say, OK.

Yeah, you can hear me now. So. So.

So, sorry, just just to add, please be informed that we'll be ending the live band too, so everyone can just speed up what they want to say. Thank you very much. You can continue.

OK, so that's that for that. And when it comes to my crypto journey then I don't really know if if I was in the burn or. I think I started around 2019 towards the ending. So first I started with futures and.

It was a paid group whereby I had to pay about $200.00 or $300 to to enter the group. Like you post screenshots of you winning trades always, and at the end of the day you still have to.

Collect money from newbies just for you to drop signals for them. But it was it was kind of crazy, but still yet I paid and.

At the end of the day like I kept on losing and losing and losing and losing more of my money. So I noticed of a guy we were in the group together, he left the group because he was actually saying the only person making money in the group was the admin. So he left the group and in about 3 months like the guy is fucking rich and I was like how did he get rich stuff like that. And he also collected money from me to add me to his own group though the money.

Elected was OK, it was still bearable and I was able to make make more than enough from him because I bought all kind of shit coin, all kind of whatever. Like as a den I don't even know. Like probably anything I buy then it's it would probably like maybe 2, maybe 5X10X but.

I don't know, maybe the mentality I was having then was like probably.

Like everything is gonna gonna moon. So when I buy the coin I just leave it there. So I was, I was I was actually on on on 6 figures.

I was actually on 6 figures and basically I I was afraid of even touching the money because it was it was getting too much and I was like I I didn't even tell my dad or my mom or anybody that I had a certain amount of money.

That's as big as that with me. Not until the day my brother mistakenly see my wallet. And since then so many things have happened, like in the bear market or the coin I bought. I still leave them. I didn't touch them with the hope, like they keep multiplying and at the end they dumped like I I moved from from 6 figures to like maybe four figures really, really, really soon. Because I actually have nobody to tell me this or that or this.

That or this like this is what you're gonna take away. Like it's time for you to move out your phone. You're in profit, all this stuff like that. So basically my advice for.

For for newbies.

Is anybody listening to me?

Yes, we are listening to you guys.

Yeah, so my advice for newbies, my advice for newbies will be that like what whatever you guys are actually doing in in the crypto market, I prefer you guys to do it probably with friends.

So I prefer I prefer you. I would just prefer anything you're doing. Like you should try to join communities. Whichever aspect you wanna be in, just try to do it with friends because that way I tend to learn more because basically now I'm I'm a futures trader. So after so many sheet I ended up trading futures and I'm really really good with features but.

The only mistake I've made in my whole life is is is not taking away my 6 figures at the right time. I'm supposed to take it away because I am still regretting it till date and this was something that happened probably from last year, last year, last year November until this current November. Because I think the the dumping started I think between October to November last year and I getting into crypto around 2020 nineteen or so.

So.

So basically me, I'll just advise and like anybody coming in might still believe. Like there's still more than enough for everybody because I am actually sticking to crypto for long and I don't see any reason why I have to leave it now because I believe.

There's money there because I'm making money. You can, everybody can if you're patient. And I'm making my money with features, basically.

I.

During this.

During, during this, during this bear market like, like.

I'm actually used.

Is anybody talking to me?

You can go and please just find yourself and next speaker will speak.

Yeah. So, so during this, during this, during this bear market, I tend to notice so many projects failing, so many projects going down. So my best advice to to everybody or anybody coming into crypto now is just to to to roll with communities or friends that with that you can, you can, you can help each other because.

It's actually friends that make me get to where I am today, so that's why we're closing for today.

Academic shot here.

Hello.

Alright, thank you.

I.

Um, so listen to termini, then be something and the boy is.

Um, so please, once again, um, we are running out of time. So just very brief. Remember, share with your she gets to be.

Sorry.

Then just your two cents. I'm just within two to three minutes. And thank you very much, Tammy. Good.

Alright, nice. Good afternoon.

Alright, that's fine. Go ahead.

Driving, so pardon me if maybe I hear some feedback from the background. I'm going to keep it.

So trying to keep you quiet, very short. So my sugar story. So I entered this space somewhere in 2017. I got in through Bitcoin mining where you had to now buy Bitcoin and put this on a platform and you are earning the mining rewards. I mean that thing was a straight point because it was basically my own Bitcoin that were giving me a portion of. Eventually when that thing blew up, I still had about 0.2 of my Bitcoin stack on their platform and I couldn't take it out.

That is way back 20170.2 BTC. So then I moved on. So that was my first shaggy story. I moved on, someone introduced me to Telegram Bot, was a time where a lot of there were a lot of stuff going on, on telegram where you you buy some, eat, put it in some whatever, whatever, and you buy you, you earn some diamonds. And all those kind of weird, funny, funny things the people introduced did not tell me that this thing is like a pyramid scheme.

Why you need to be bringing in new people before you can take out your own money, after you've accumulated enough diamonds so that one to but it's locked. My eat did my first withdrawal. My second withdrawal was not working before I was told I had no you need to bring in people for them to also invest before you can take your money out, and also lost a lot of money with those telegram bots. Then I moved on to ICAO ICAO in 2017, but a ton of shade.

Spent over $3000 buying coins that literally went to zero after two or three months. So that became like my third shaggy. Then finally Luna went into Luna. Was very big on Luna and UST.

Had some fans. I had Luna two kinda. I had staked so when they collapse was happening there was literally nothing I could do because I had staked the fans and also lost a ton of money on lunar too. And my final one was on FT FT. I mean, I've been in this space for a while and I have. I have even quoted their mantra of not your not your keys, not your fans to newbies that had introduced into this space, but for some reason my.

FTT that I had had just stick it on NFTS and I had some or missing gold that I bought somewhere in 2018 which I had huddled up to this time. Moved it on to FT for their boba AirDrop. Got the AirDrop instead of moving it out. I just left it there and you know when the whole thing was happening it was like a dream like OK, is this thing really going down, this thing really folding because he's he has come to say this is he saying that he's going to help them build them?

Out. So I got time. I was like do I pull out? Do I wait? By the time I realized that everything was just over now you can't withdraw. You can't do anything. My FT staked on FTS gone have been huddling for so many years. Also gone. So my sugar, my sugar wahala in this space it's it's been bitter. Honestly, my experience in this space has been very very bitter. However, I am still.

Right, confidence that things will turn around. So I have not given up on this space. My advice to newbies would be that they should always be careful with people coming up to them on all social media. For whether it is a telegram or WhatsApp or Twitter or wherever, if someone DMS you, you should be extremely careful because one of the issues that I lost a lot of money in was because the first time DM me on Telegram, I thought I was outsmarting the person.

Leaving initially, I called the person out. I was like, come on, what do you want? I was like, Oh no, I'm not a scammer. I mean, I just. I'm also new in this space. I've seen this, I've seen that. So we started talking. I entertained a person and a person introduced a coin and said, oh, he's equally lost so much in the space, but he's very confident in this coin. I should take a look at it. Will they discuss it for a while? And that coin ended up being a complete scam.

Complete, complete scam. Spent over $700.00 on that coin and everything went to zero. So my advice to newbies is that for me now if you did hear me, I block you. Once you DM me on Telegram, I block you. I don't even check what you are saying. I get straight, I I go, I go straight and I block.

So be careful those who DM you and try to offer solutions to you or try to offer some sort of help or assistance to you. Be extremely careful about that. And also let's stick to the mantra that we keep saying that if not your your kids exchange.

Alright, thank you Tammy um, so listen to.

Alright, this is something.

Be something and then she looks alright. There's something you once again hear your she goes to you and share what you want to share with us. Thank you.

Yeah, I'll be sharing my tickets through with this space. The first one happened and then in 2020 at the peak of him of the Binance smart chain. So it was about them just swap. So invested in juice swap. So I lost about $2000 because all Binance marching.

I think they all crashed cake juice up on their rest. So the second one was and was in.

Yes, it was in.

It was in 2021 years, 2021 December when in when Phantom Phantom Network had some issues, the developer resigned under Konji.

Yeah so I think all Phantom, Phantom mental beach bookings are still daunting now. So it wasn't keeping 3 arrow I had that at that time so it crashed but and luckily I've been able to like escape escape through I got back my money choose capping off him out coins. So being as great as space and for the quite the time of being is and it's been it's been a hell of a ride but still I've made some things out of it.

So I want to see each child to crypto load for sharing this space here and there is looking for giving us extra time to tell her she gets story. Thank you very much.

All right. Thank you. Dissenting. She looks you're up.

Yeah. Morning, everybody.

Can everybody hear me?

Yeah, we can hear you good.

Yeah, yeah. I would have actually loved to do a full series, but there is no time.

These crypto space here.

Well, I'll. I'll be. I'll be focusing more on the newbies, you understand?

It seems almost the same thing for everybody joining the crypto spin.

Rochelle she goes to your Facebook.

Alright, grade.

Definitely that's what I'm that's what that's what I'm doing. You understand when you first get into into like for most people you most people tend to 1st see like make it feel like it's it's a roller coaster like it's just going to be smooth and smooth and smooth and then your first shaggy understand comes in and yeah my my own happened last year.

And it was such a Big Blue. It was such a big blow. It took me several months. It took me several months to actually recover. Why? Because after I had made some money from crypto, I think in 2020, you understand, everything was just, you know.

The money was just coming in and and all of that. Like you know, when you when you have money, you don't have to say it, it is noticeable, you understand. So because of that like my confidence in crypto went through the roof.

You understand, especially because we were reading about all these decentralized stuff and blockchain and all of that. So he kind of almost felt like it will always go up even though there is a little deep. Definitely it will always go up. You will always be profit out there as long as you can wait for, you know, long term. In my, my thought was long term was like 3 months, six months and all of that. I didn't know sometimes long term might actually mean five years.

So as as I was making money from the team now I was, I was also encouraging my followers to you know, be making money from the team. We we learned how to trade and all of that. A few people started giving me their money that they did not have time to trade. That was the biggest mistake of my life.

By look, that was last year when he announced that Tesla would no longer be be accepting BTC.

And then I think China also banned crypto.

But they were all those the occasional stuff they they publish, you understand, and then been in so many trades with too much confidence and.

Poorly risk management and all of that.

Before you close eyes and before you close eye, close eyes are open. It won't let. Don't wipe.

Like it took me about seven months before. Before I before I could say OK, I want to buy another, another crypto, or to say I want to trade.

Or anything like the the stuff was so depressing.

But then I'm just glad at the end of the day I was able to take you know what what was supposed to be my you know lesson from that event from that incident, you understand and then I've I've picked you know, whatever is left and I've been rebuilding since that time. And but for any new beach that is coming, this within spaces. The space promises us, the space promises us, you know the centralization, freedom, nothing like this.

Communication. No, no, location, barrier and all of that. But at the same time do not be overconfident. Knowledge will come first. Knowledge we like we we should we should try and learn before we remove the L.

And so I'll just have to stop there for today.

Alright, thank you very much.

I really appreciate everyone of you that has joined that I've spoken, that I've listened. This Twitter space was brought to you by the 2nd code and in absentia. I would also appreciate crypto Lord for agreeing to cohost this space with us and it was very wonderful space. I hope everyone has gained a couple of things from this Twitter space. Follow each other, follow tech on code as we'll be coming up with more species to talk about pertinent issues in the.

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