How To Cope With Losing Your Life Savings | TDK Podcast #96

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Were you affected by the Terra Luna crash? Was this why the government advised against cryptocurrencies? What kinds of investment mistakes have you made? What can we learn from this crash?
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0:00 Intro
0:22 Were we affected by the crash?
01:38 Wise to catch a falling knife?
02:52 How people lose their life savings in less than a week
06:00 How much did JP lose this time?
09:41 Police report made against Terraform Labs
10:45 Who is to blame here?
15:39 Did Do Kwon's arrogance cause Luna's downfall?
20:04 Comparing this loss to JP's previous loss
22:12 Coping with our losses
28:36 What did we learn from this
36:33 Metajam
37:45 Closing
38:19 Bloopers
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Cast:
• Johnathan Chua / johnathanchua
• Daniel Lim / danlim11
• Jonathan Paul / jonathanpaul.sxw
• Denise Oh / ohthedenise
Behind the Cam:
• Nashrul Merza
• Julian Chin
• Keith Kok
• Daren Khek
• Charlene Goh
Edited by:
Carmen Chuang

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Опубликовано:

30 июл 2024

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Комментарии : 134

@RetroHeads 2 года назад

I had a small Christmas gathering last year and a friend bragged about making 300k and tried to convinced everyone to invest in LUNA. Last week, I woke up to the news and checked up on him and was told he sold majority of his stock portfolio and went all in together with his wife savings. He succumbed to greed and now he couldn't break the news to his wife. To everyone who were affected, you are still young, you can recover from this.

@jambalaya428 2 года назад

That is fucking irresponsible on his part. Why must he dragged his wife along with it? I know it's probably greed but fuck me does he not know what risk management is? This is not a man who loves his wife, I'm telling you.

@RetroHeads 2 года назад

@@jambalaya428 Many couples leave the financial management to their other half. But I guess its hard to take in any criticisms or advice when you see your investment literally grew 6 folds in half a year. No point crying over spilt milk. Just wish to see those affected to look past the material possessions and there are many things far more valuable than that.

@mobilenotherwise5000 2 года назад

should have cashed out some

@user-ln2th5nq1g 2 года назад

@@jambalaya428 Folks who invest more than 15% into Crypto typically do not understand portfolio management.

@gabrielsoo2939 2 года назад

@@user-ln2th5nq1g Most folks do not understand portfolio management. But there is no point berating them about it at this point in time.

@joellow8605 2 года назад

Being in the industry and investing in crypto and losing money 3 times including this Luna situation. I think the biggest hole in everyone own education is on the topic of personal finance and portfolio management. Never invest more than what you are willing to lose, this is the only thing that ensures your ability to both survive the crash and to bounce back.

@RambutanLaw 2 года назад

I have no idea why people dump their 100% wealth into such high risk investment.

@ihaschimken 2 года назад

Why ah... Not sure. People dumb enough to believe in luna in the first place?

@dancingspeed 2 года назад

greed. they just want to get rich fast

@kruserandy 2 года назад

Its gambling its greed

@Missy_Ai 2 года назад

They are gambling

@quietlychattering 2 года назад

It’s not investment

@Ganesha6661 2 года назад

If you want to invest, remember what money you invest you must be prepared to lose all. If you can, you are ready to invest..

@Lucas-wn5wm 2 года назад

Not affected here but its a interesting case study for me. Never put all eggs into a basket if you want to , your knowledge is important.

@ktan8 2 года назад

Nothing in the world would guarantee you 20% interest per year. That alone should ring alarm bells. It's fine to trade rather than invest. But if you're trading, you need to get the hell out before everything crashes.

@xunsungwar77 2 года назад

Actually it was doing fine... until someone sold

@porridgeman 2 года назад

@@xunsungwar77 if it was so vulnerable that selling would create such an impact, it’s a horrible investment. Basically it is a ponzi scheme

@Ranger629 2 года назад

John Paul doing well to be able to buy a Patek Nautilus despite the losses.

@awhm-py4ws 2 года назад

That echo chamber thing isn’t only limited to Twitter. It’s honestly a majority of social media. It’s how they keep you engaged

@twenisix 2 года назад

You Think you know You Think you Understand You Speculate Thinking it's a investment It's All Gambling of a different nature All will be wiser for it

@jayjay-kz2wr 2 года назад

Want to gamble go casino all in faster lol

@Justanotheruser345 2 года назад

Thank you for sharing all these! Real good episode! Also in a way tdk is community, would love to join a discord group if you all plan to ever have one!

@VivianHoGrey13 2 года назад

@chengshengway 2 года назад

13:41 Meta ALSO used that algorithm despite users' feedback on it. However, Twitter has an option for chronological order but not Meta

@clarence961 2 года назад

Still loving the podcasts you all make, keep continuing im supporting you all!!🤗

@Lufqil92 2 года назад

Affected but not heart pain coz did started with a $100 which turns to thousands over a year plus. Taking profit in between. Now from thousands crashed down to $300+. Oohhh well start again from scratch.

@jiawei0917 2 года назад

Damnnn johnnnn. 26:50. You deep boiiii. Deeeep

@passawayla1740 2 года назад

sometimes i feel bad that im not well versed enough to do crypto, but whenever i read news like this, i feel better:) sadge for the others tho

@arsenal_84 2 года назад

Nothing to feel bad about, invest only if you understand the risks well enough.

@JD892H Год назад

Can TDK do another podcast abt crypto? So much new developments have occurred, such as FTX's crash, and I'm quite interested to hear their views abt the compounding crashes in the scene in the past few months.

@KiwiLimHuttons 2 года назад

*_I am amazed no one questioned how the Anchor Protocol can be sustainable with a payout 20% annually to depositors when they are only getting 11% for the loans they give out using depositors funds._*

@joellow8605 2 года назад

Many people questioned. And everyone was aware that it was artificially propped up. Analysis was done and people felt that the risk/reward was worth it, that’s why the money still flowed to Anchor

@Eonclaire 2 года назад

When the data doesnt tally, you are the yield. kekw

@FinalSpace 2 года назад

Remember: Easy come, easy go.

@Restin_J_face 2 года назад

Coffeezilla covered this, showing how Do Kwon played apart in this downfall.

@samuelCWM 2 года назад

You guys shared your point about how web3's adoption if even greater than the internet but could there be other factors such as the $4T injection into the US economy, availability of information through social media and at the same time the spread of misinformation which encourages people to take more risk than they should. And even though the adoption might be faster, what is the real word utility that we are seeing with web3 and defi that is not already being done more effectively by web2. For example, most of the "use cases" of nft projects come off very gimmicky and can be easily done through a paid membership. That said, web3 probably is still in it's early stages and can probably develop into something that will change the world one day but for what it is today which to me seems like a copy of web2 pasted on the block chain, I think the hype needs to die down before the real building is done.

@tajuddinmarhim5467 2 года назад

THAT OPENING LINE!

@ChunkyROX 2 года назад

all speculative - all without hedges, what do you expect at a down market. GG.

@jennyyong1170 2 года назад

Why didnt you guys do the responding to comments segment this time :(

@gilchong9083 2 года назад

emotional & financial damage.

@aconite23 2 года назад

Timely reminder for everyone to only get into trading/investing into vehicles that they truly understand and know. If you only understand TradFi, do that. Don't be tempted to do cryptotrading just because you've been taunted for being a "boomer" or feel left out when others earn their 10x, 100x returns. Just like it's name, PERSONAL finance is your own journey - don't let others dictate what you dabble in.

@masterofcards2948 2 года назад

Advice for retail investors, do not always see the potential returns of crypto, do up research on the fundamentals of the crypto project before investing into the cryptocurrencies.

@jambalaya428 2 года назад

Unfortunately, most of them will only start asking how it works after it collapses. Before that, the returns are only what matter. Shoot first, ask questions later.

@darkholyshit 2 года назад

And then again, even if u do up research for Luna. Doesn't the self balancing algorithm sounds convincing? Moral of the story, even if research, things will still fail. Always practice risk management and don't meddle in something you don't know in

@t.u.binvesting4675 2 года назад

There is a way to leverage safely. Don't write it off completely.

@planetplum 2 года назад

rlly dont care about crypto but it’s interesting when y’all talk about it

@lecherhao86 2 года назад

Every investment has its risk. We just have to embrace it. Even stock investor also suffer paperloss now.

@DailyGPT365 2 года назад

I dont understand why so many fools keep buying crypto. If you own all the stocks in the world, you will be wealthy because you own much of the world's ability to produce goods and services. If you own all the real estate in the world, you will be wealthy because anyone that need a place to live or rent would need to buy from you. If you own all the crypto in the world? You will never be wealthy because there will be another new crypto being made because you are hoarding the rest.

@NN-br2xh 2 года назад

Serious ah, how pervasive is crypto in Singapore?

@gabrielfoo6866 2 года назад

You guys should do more crypto content

@endd3431 2 года назад

they have it on the chaindebrief

@samuelCWM 2 года назад

apparently Do Kwon has worked on a similar project that has to do with algo stable coins before called basis cash, the project also failed but in a less grand fashion and now the stable coin is worth about 1c. basis.cash is the website if you wanna check it out.

@EIJIHS 2 года назад

Crypto was driven by de-regulation and also suffered because of this... flawed idea? Why are police reports lodged when de-regulations had been pushed....weird much to me...

@jironghuang4895 2 года назад

Always hedge. never carry too much delta risk.

@elvinsta 2 года назад

met kwon in 2018 when luna just started as a venture investor looking into blockchain space. To be honest, he avoided most of our questions around the sustainability and how it compared and differed from a previous textbook stablecoin failure: Basis - which kwon was allegedly a cofounder as well. Didn't find him overly proud back then, pretty nice guy but just quite avoidant and claimed that the algorithm this time will solve all the underlying issues. My firm back then passed on investing in luna for the better or for the worse..

@dreaming765 2 года назад

Luckily I never heard about Luna before today.

@John_Smith_86 10 месяцев назад

Exclusively talking about Luna coin

@geoffreylim6993 2 года назад

I am a builder, price don't affect me :D

@destawalad8324 2 года назад

bought $10 @ 0.02 just for fun. Luna is foregone after the depeg. Seemingly these people nvm listen the warning signs

@quietlychattering 2 года назад

Good that you guys cover this topic. But I really think to call buying crypto “investing” is really the problem though

@rogue93ying 2 года назад

This falls into the category of speculative investment, same as art. Can just keep your fingers crossed that it'll appreciate. Most advisable to keep this to 5-10% of your portfolio

@arsenal_84 2 года назад

Yup, crypto is not backed by business fundamentals.

@qile1231 2 года назад

This is very random, but is Jon wearing a Patek Philippe Nautilus?

@ChindianKing888 2 года назад

Am only into stocks. Know crypto has higher returns 'potentially'. Would say put money into Crypto expecting that you would lose it all. Except Bitcoin/Ethereum

@BeachBoi1000 2 года назад

Don’t say except… the risk is there…

@MrAtomUniverse 2 года назад

Non SG stock right, if buy SG stock i think u buy toto better

@ChindianKing888 2 года назад

@@BeachBoi1000 you're right as well

@jayshen84 2 года назад

Curious.... so did ppl make money from crashing luna?

@RovinTan 2 года назад

Do Kwan created Terra\Luna with a built-in self-destruct protocol.

@Calvinang93 2 года назад

Decentrialized from government to companies don't sound enticing at all.

@VivianHoGrey13 2 года назад

Friend: "So, stablecoin is stable?" Me: "Listen to JP!!!!"

@yoloyolo1307 2 года назад

I know it's gonna be luna. My Luna from 100k became cents..Lol. coinhako is even force selling, I can't even keep the hope of it rising .

@terlum 2 года назад

Is JP wearing a Patek? 😍🤤

@coach.jaytee 2 года назад

It’s not true that Do Kwon couldn’t do anything. They could have immediately suspended the chain. CZ would have immediately suspended and communicated with the public like he has done before. Furthermore, why would luna buy other crypto assets as collateral? That’s the dumbest move ever. Do Kwon basically got schooled by tradfi.

@annovi100 2 года назад

fine and thin line between investing and gambling...

@3446 Год назад

Every generation, there will always be a defining bubble. In this generation, its crypto.

@Soshiaircon91 2 года назад

For ppl who don't know what is cryptocurrency and what happened. Let me help explained about the "Luna" crash basically the moon crash down to earth and you arent aware of it because you are sleeping.

@chilly2171 2 года назад

it is not a death spiral. When you burn UST to mint Luna, USDT's supply will DECREASE while Luna's supply increase! 4:40 You BURN UST, NOT SELL IT. I'm a blockchain dev, and web 3.0 is really expensive, and not really scalable at the moment, the most important thing in new tech is scalability, you can have anonymity, security and everything, but if you can't scale, there's no point 33:30.

@chuandeang4122 2 года назад

Not so easy to Peg.................need alot of Funds to maintain the Peg

@zackjacob2592 2 года назад

Never understood the allure of investing in stocks, NFTS, bitcoins or the whole concept of making your money work for you. Sounds like a bunch of bs to exploit other people. Raise your wealth through honest work, sweat, skills and intelligence. Want more? Be and do better.

@user-ln2th5nq1g 2 года назад

Only invest in stuff with fundamentals which you understand. Stocks like Apple, Microsoft have business plan, great products, and financial fundamentals which are worth investing in. NFTs and Bitcoins have no fundamentals, they are built on thin air. Keep your hands away.

@kingseiryu929 2 года назад

Practically how many ceo positions are there? Every year u are fighting against rising inflation. Can u reach the top position with pure hard work? Well if u r that talented then u wouldn't need to fear either way. Crypto is one thing but stocks allow you to make smth out of your savings. Of course, u have to take some risk but that's true for everything. But one thing is guaranteed - if u work a middle high end job with all your money put in a 0.01% interest rate, u will definitely lose out to someone with a decent salary who knows how to invest over the same period of time

@weijie7 2 года назад

Algo stablecoin!

@ywta9227 2 года назад

John saying some wise stuff. learn.

@shiting418 2 года назад

You see luna has nvr been a stable coin ppl think it is if u guys did ur research on blockchain u would have seen this coming

@awhm-py4ws 2 года назад

Coffeezilla is a really good RU-vid channel if you want to know more about dodgy crypto currencies / Ponzi schemes. Good investigative journalism and he’s exposed a lot of these scam projects

@faizmazlan8625 2 года назад

I wasnt affected by Luna hehe. Profited!

@Syn741 2 года назад

honestly people who dump all their life savings into crypto are the same people that says they don't want the government to control their money. "I got all my savings in crypto"

@benwong2061 2 года назад

Algo!

@afblaze94 2 года назад

It was the easiest short of my trading career. So glad to have such a chance. Thanks luna for the profit.

@user-ln2th5nq1g 2 года назад

As opposed to the housing bubble in 2008, it must have felt good shorting against Crypto lunatics.

@arsenal_84 2 года назад

Sounds like the big short movie again.

@eugenewong9134 2 года назад

First comment! :)

@endd3431 2 года назад

algoooo

@briangan3133 2 года назад

Flfc

@andytanSG 2 года назад

nice

@AdenPhua 2 года назад

Hahaha not affected LOL.

@kz-uv7hs 2 года назад

imagine btc went to zero XD

@jocheah4000 2 года назад

This is the theory of the greater or bigger FOOL.

@schiavoneymericod9018 2 года назад

Initial time frame typically the market hasn't prospered. But I nevertheless made 5000$ revenue last week along with only 45$ capital.

@carlenemontes5167 2 года назад

The market is very difficult. I think BTC surpasses $35k, then trade is straightforward to make money.

@dalekelly440 2 года назад

Would you follow any groups? There are several groups that continue to make a fortune from this industry.

@billythompson9089 2 года назад

@cryptoheroes you mean

@Neruvox 2 года назад

This is why forex is king 😎

@NoIGN 2 года назад

I only feel sad that some of these idiots probably will be getting aid from taxpayers' dollars even though they are in the plight due to their own irresponsible actions.

@meklavier4664 2 года назад

never trusted crypto. continue with ETF, 10% per annum is still good return.

@Gamebred-Nightmare 2 года назад

You do you with that 10%, but crypto is still young and we're early in the space. In the long run it will succeed.

@Neruvox 2 года назад

@@Gamebred-Nightmare I think He’d rather enjoy that 7% rather than getting rugpooled and crypto death spiralled into oblivion with all these high yield numbers. You do you but don’t cry to your mummy when your crypto goes tits-up.