I got Scammed by Shiba Inu. (Might Delete)

hey everyone meet kevin here i got

scammed by the shiva inu nft process but

in part it was my fault potentially all

of it but in this video i'm going to

show you for educational purposes how i

got screwed and how you can avoid

getting screwed i want to be very clear

though while the nft process for the

shiboshis or the shiba inu a first drop

of 10 000 nfts was a disaster i still

support sheba in you okay let's get into

exactly what you got to know and there

are three very very important pieces of

this puzzle that you have to know and

all three of these will be a learning

lesson when it comes to working with

nfts this cost me about 13

hundred and seventy seven dollars and

only twenty five percent of that was

related to what you might think it's

related to but watch this video and

you'll learn it on if you appreciate by

the way the information that you're

going to get here totally for free make

sure to smash that prescribe button it's

a red button and it's right there next

to the thumbs up button all right let's

get into this step number one you've got

to be prepared if you're going to

participate in a non-fungible token drop

remember an nft an nft drop were first

being able to pick up some new piece of

artwork whether that might be access to

a digital music collection or something

as simple as a png photo that's created

by either creator or sometimes even an

algorithm but you want to prepare and

it's very very important that you

prepare because many different platforms

use different types of currency so for

example if you use openc to buy your

nfts you usually have to deposit eth

turn it over into the polygon network

and it can take up to an hour for that

money to transfer which if there's an

nft drop that you're excited about

you're going to miss out and the last

thing you want to do is be rushing to

transfer to a token that you're supposed

to have but you don't have so you've got

to be prepared take a look at this

specifically if you go to the shiboshi

web site where the shiba inus were

dropped where the shiba inu nfts were

dropped i should say there's really no

mention here that these are only

purchasable in leash however and this is

a totally unfairness to shiba inu even

though they don't mention anything about

a leash being used for nfts here on

their main website sheba swap or on

their shiboshi dot shiba swap website

they did have a little temporary banner

that was up and this was my fault i

missed it and i have a recording of this

they did have a small temporary banner

up that said these were only quote

mintable with the leash for the first 24

hours i didn't make the connection that

they meant that i would need

leash to be able to buy the nft that was

my failure i saw that banner it makes

sense now because clearly here it says

mint your shiboshis and you have to do

it with leash so i had to go through

this process of converting my ethereum

over to leash but i couldn't directly

convert from ethereum over to leash i

actually had to convert from ethereum

with my metamask wallet to sheba inu and

then from shiba enu to

leash which meant i was incurring gas

fees twice

big

f

then ultimately when i did try to use my

leash to mint my shiboshi's none of my

transactions ended up going through

which was extremely frustrating i kept

getting these sorts of errors over here

that i could i'd have errors in trying

to swap from aetherium to leash i'd have

errors going from uh when i finally got

from eat the sheep i'd have errors in

actually getting uh to any kind of

minting so once i had my leash over here

i had a leash balance i'd even try to

just put one in i'd hit start minting

and i'd get frozen on this minting

process and eventually i would just get

this notice that my nft minting process

had failed and so even though i was

early enough and this is a part where i

have a little bit of a gripe with sheba

in you even though i was early enough i

failed to get any of the nfts and that

to me was a bummer in fact you could see

my transactions here four failed nft

transactions all within the first 20

minutes of this drop and they did sell

out within 35 minutes so if i have any

complaint with shiba inu it's that they

should have really in the minting

process reserved coins for people who

said okay i'm in the minting process

they should have automatically reserved

those nfts for those folks during the

minting process because my suspicion is

you had 10 000 available nfts but they

essentially probably led let's say 30

000 people mint nfts and then a bunch of

people say 20 000 including me just had

failed transactions which is really

frustrating because you pay for failed

transactions now we'll talk more about

failed transactions and ethereum fees in

just a moment but the next thing that

you have to be aware of is remember how

i mentioned i took my ethereum

transferred it to shiba inu these are

both coins that people huddle but i also

transferred my shiba inu over to leash

leash is not something that a lot of

people huddle now there are people who

do so no offense to those folks but it's

not something as popular obviously of

shiba inu so you're going to have more

hodlers in chiba in you which means

right before an nft drop you're probably

going to expect massive volatility of

this price going way up and then

plummeting after the drop well this is

where i failed twice first i should have

prepared for this drop much more than i

did and i didn't because if i zoom out

back to somewhere around the beginning

of october just about two weeks ago

leash was trading for somewhere around

928 dollars it was really trading

between 700 to a thousand dollars here

pretty consistently for a long period of

time we knew this drop was coming and i

should have converted some of my money

to leash unfortunately i did not convert

my money to leash until the nft drop

which the nft drop was the 14th which is

when these leashes were trading for

somewhere up to 2 800

intraday it was crazy look at this 28

2900

and as soon as the drop was over

i made another mistake so rather than

preparing properly i bought leash high

because i wanted to buy the nft i didn't

think i was going to keep leash i didn't

care about leash i wanted the nft but

when my transaction failed i should have

immediately converted my leash back to

sheba enu but i didn't do that because i

was frustrated that i didn't get one of

the nfts so i let my frustration and

emotion take over and i let my leash sit

there like a dum-dum and then of course

the value of leash plummeted as

everybody else

actually transferred their money

from out of leash they either got their

nft or they transferred back over to

shiba inu or ethereum or wherever they

wanted to go now i got out before just

continue to plummet but i still lost

value on leash and my biggest learning

lesson here was don't get into a utility

token right before it's needed and then

get out after it's needed

it's like it's the opposite of what you

want to do if anything you want to get

in when it's not needed and get out when

it's needed right i flipped that because

i wanted to buy the nfts i thought i was

going to be in leash for like two

minutes well that didn't happen why

again because all of my transactions

literally

failed which is really really annoying

because transactions and this is the

next gripe i have i mean look i've got a

few gripes number one is the fact that

we use the utility token very very

annoying they in my opinion could have

been a little bit more clear that you

needed the leash to use it but in

fairness they did say only mintable in

leash that was just my fault for for not

digging deeper into that

uh but it also bothers me that we didn't

or weren't able to buy these nfts in

shiba inu itself because then i don't

think we would have had this crazy uh

volatile move in in the price of the

actual underlying token because shiba

inu again has hodlers uh and it's not

just this utility token and again i

understand there are going to be people

who had a leash but there are more

huddlers in chiba in you just want to be

respectful of all sides now uh okay

that's another gripe i have but the the

big one and this is another big f that

you want to pay attention to if you're

getting into uh this sort of nft or

crypto game is you've gotta gotta gotta

pay attention to ethereum gas fees okay

so this is the third big problem when

you're transacting while things are

really hypey like during an nft drop you

want to do everything in your power to

minimize the amount of transactions

you're doing because the more

transactions you process the more nft

fees you're going to pay i'm sorry the

more ethereum gas fees you're going to

pay and look at this folks

i paid 485 dollars to swap two tokens of

ethereum to shiba inu but i also paid to

approve the speed to the highest

priority another 149

396 110 256 for a failed minting of the

nfts i paid 1400

for literally a failed minting i kid you

not come over here to i believe it was

my first failed minting no that one was

79 ah here this one mint nft which ended

up failing look at this

1441 that's freaking insane that is

absolutely insane oh i put 14 33 well 14

41 there we go it's even worse than

expected but anyway that's for a failed

transaction and i looked at you know

ethereum failed transactions and look at

what it says

you are paying for the computation

regardless of whether your transaction

succeeds or fails even if it fails the

miners must validate and execute your

transaction which takes computational

power you must pay for that computation

just like you would pay for a successful

transaction

well dang it

so anyway uh you know when i first

talked about this there were some folks

who were like kevin you didn't get

screwed by shiva inu you got screwed by

the gas fees well i did the math and i

only lost

point six nine percent of my thirteen

thousand seven hundred seventy seven

dollars from gas fees i actually lost

most of my value by getting screwed by

using leash and this is something that i

have a gripe with shiba inu over i wish

they didn't use just this utility token

but again i blame myself more so i'll

take all the blame it's fine i'm making

this for educational purposes but i will

take the blame because i should have

just known the game better and i didn't

so i lost money not only though did i

lose thirteen thousand seven hundred

seventy seven dollars of which three

thousand five hundred thirty nine

dollars were gas fees so yeah it's it's

still a hit but the majority of the loss

was leash ten thousand two hundred

thirty seven dollars was lost market

value because i didn't transfer out a

leash right away because again i thought

i was gonna get the nfts

uh but i also lost opportunity see i

assumed that i would have

i should have received about eight nfts

for the amount of money i sent over and

uh these sheba enews right now you've

got to be careful because there are a

bunch of misleading listings on openc

but if you type in

shibboshi you're looking for the one

that has 10 000 items which is this page

right here these right now are selling

with a floor place price of about 1.25

ethereum so 1.25 ethereum

times 8 times about 3 800 where we're

sitting and that's actually 38 000 of

opportunity i lost because for some

reason four of my mintings just failed

and i have no idea and this is something

else that's frustrating is there's no

customer service number to call there's

nothing you could do there's nobody you

can complain to there's nothing you can

do you just blame yourself it's like but

i don't even know why i can blame myself

it's just the transactions failed i

didn't get what i thought i was going to

get so i didn't end up getting one of

these these nfts which keep in mind if i

had gotten one of the nfts

it's worth noting the uh open or sort of

the forced appreciation they had so if

you jump over here here you go look at

the minting process the first three

thousand about to get minted were

basically getting traded at point one

ethereum so these folks 12x their money

these folks would have about six x them

their money and these folks would have

about four x their money i didn't care i

just wanted to be in and i would have

probably just held on to my shiboshi

unless i didn't like it for some reason

and traded it for something different

but

the whole process left such a bad taste

in my mouth i've been pretty frustrated

about it i do blame myself

and i understand the process a whole lot

better now but i'm really making this

video as a psa for you so that way you

don't get screwed and if you want more

psas of me losing money and where i

effed up make sure to hit that red

prescribe button down below thank you so

much for watching and folks see in the

next one bye

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