Yes, I am now in the Million LUNA Round Table or MLRT !

 

Before something goes really wrong for me, there will always be some kind of foreshadowing. 

A week ago, I gathered with my SMU JD classmates in one of their apartments and we updated each other on our career progress ( or lack of progress in my case ). I realised that none of them are really aware of what's happening in the crypto landscape and, just for fun, I decided to pitch the general idea behind the Terra blockchain to see if they will buy it, lawyers being pretty smart people.

The cut the long story short, I totally failed. 

My pals do not buy the 18+% Anchor protocol at all and every effort to explain how a central bank facility and the workings of the LUNA-UST pair was unable to convince them to accept that such an idea is feasible in any way. 

At that time I dismissed their concerns because I thought perhaps I was not convincing enough. After all I got a shit B grade for International Moots. It's not easy to get lawyers to buy into anything, and all of them rely on their salaries as their primary source of income.

The rest is history as my classmate's skepticism was proven right.

My damages were slight, so far I have lost about $16k. If I had conducted more classes on crypto, my Anchor holdings would have been higher and I would have lost more. It was sheer luck that my entry into crypto was less than 1% of my net worth at the moment Terra collapsed. Right now, the biggest source of damage is the effort I put into my course slides which need to be retooled away from the Terra blockchain which means a third of my material needs to be rewritten from scratch.

I just want to say something about Ponzi schemes as a skeptic, and a trainer who did lose money just in one :

So long as women continue to choose men based on his ability to obtain economic resources, guys will always look for the next best way to make money, juts to impress hot women. If you can find some purportedly riskless approach to make 20%, even folks who are aware and document the risks like me will put at least a token position to experience the thrill of winning, if only for a short while. Genting is a company that exists solely to provide this kind of entertainment. 

Prior to Anchor, I've been burnt by shipping trusts and Eagle Hospitality trust, in all these moments, I knew that something was wrong but I like the double-digit yields. I think the solution was never to avoid such schemes which are too good to be true, but to do position sizing so that a loss will not hurt you this much. 

So would I play 0.1% into Do Kwon's next project? I definitely would!

Anyway, I always believed that in great moments of chaos, anything can be a ladder.

At the moment, everyone is pounding on LUNA investors with "I told you so" kind of articles. I thought maybe I do a final "Hail Mary" manoeuvre on the Terra blockchain and mess with critics before it collapses for good.

So when the Terra blockchain was shutdown, FTX was the only exchange that was allowing trades on LUNA. 

I gathered all the referral coins I earned from my students from different platforms. ( I will not even touch my dividends for this Hail Mary attack)

About $150 USD worth, pumped it into FTX and bought for myself 5.45M of LUNA!

My entry price was around 0.000027+. One day earlier, I lost $2,000 buying LUNA at $1. I figure that the infrastructure and engineering talents in the Terra ecosystem cannot be worth so little so the least I can do is to donate to this engineering marvel.

So just like that, I ended my LUNAtic adventures a LUNA multi-millionaire.  

I am now an MLRT! 

Now anything can happen. 

At the moment, I have almost earned x8-10 of my investments, but to recoup my crypto losses it needs to go up another 10 times. 

I probably will not move this asset until it is large enough to offset my home mortgage so paper gains will just give me more bragging rights.

I'm going on a trip, this blog will be back next Friday !