It was sometime in, at the start of May really when people on Twitter, so crypto Twitter essentially, where they were saying that people are actually selling their UST for other stablecoins. So everything was fine even at the beginning of this year as well. He sold his Luna and bought Terra, which is also known as UST, the peg coin that was supposed to stay at $1. So Wajahat decided to do what he thought was the sensible thing. You could, you could do so much with this.īut it was pretty scary too watching his money move around like that. You know, this is a literally for a 20- or 22-year-old, a life-changing amount of money. And, you know, every single day, your, your portfolio was fluctuating by thousands and thousands. And then eventually went on this huge run where it went all the way up to 100 before going back down to 70. You know, Luna went from like $2 to $5 to $10 to $20 and back down to ten. Crypto markets were booming and the value of Luna was indeed going to the moon, to use the crypto jargon. Luna, Latin for Moon and Terra, Latin for Earth. The names are helpful for remembering which is which. Luna was a free-floating cryptocurrency and Terra was a stablecoin, meaning its value was always supposed to stay equal to 1 US Dollar. It was two coins linked together with a whole raft of pseudo-banking and investment apps being built up around it. Luna captured Wajahat’s imagination because it was part of a crypto ecosystem called Terra Luna. And then when I found it, I just found the concept really interesting because there wasn’t really anything else like it. Eventually, I think I just came across Luna just by, just by doing that. Our theory was basically if we could research them before anyone else could, we might be on to something. What we would do is we would go on to a website called CoinMarketCap and we’d basically go down the list from number one being bitcoin and go down as far as we could to just try and find and research every single crypto project that we, that we could find. They reckoned they were ahead of the curve, spotting what they thought were opportunities where others were just confused. Wajahat teamed up with another friend, one who did understand crypto, or who thought he did anyway. And that’s pretty much how I went down that rabbit hole to become a crypto YouTuber. And I found that a lot of my friends didn’t really understand or didn’t really grasp the concept of it, and really just the infinite amount of things that you could actually do with your assets that you can do with crypto. But then, so you kind of shifted to crypto because the more I pretty much read, the more, the more I learnt, the more I enjoyed it. I was always learning, reading about all different asset classes, really. There are millions more who’ve lost money on crypto out there. A bit naive, yes, but you can’t help but feel bad for him. Wajahat comes across as refreshingly honest and genuine. And I assume most of them have all lost money now. And I’m sorry that I’ve actually, you know, gotten so many people into this. I’m sure you guys could see how passionate I was about it. The last few days have been pretty difficult. It made him quite wealthy until . . . it didn’t. He does guides on cryptocurrencies and he trades them too. You could, if you were that way inclined, call crypto his side hustle. Wajahat Mughal is a doctor in his twenties.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |