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Ray Trapani

๐Ÿ‘ค Speaker
788 total appearances

Appearances Over Time

Podcast Appearances

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

And then just, like, we're, like, all right, where do we go from here?

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

Because now, like, we have, like, all this pressure.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

Because at first, we were, like, we didn't know, like.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

It was just a general idea.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

And like, the idea was like, all right, what's like, like what happened was my partner at the time in a car rental business was he was trading and he basically like just got like liquidated on a, on a long.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

And, um, he, he felt like he got scammed because it was like one of those scam wicks where they just flush everybody.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

And he was trying to find like a class action suit against Coinbase or whatever it was.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

And through that on Reddit, he found ICOs and seen like all these young kids raising a crazy amount of capital.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

So we were like, all right, so like, let's try to create our own ICO and we'll just hire people from Upwork and make a website and whatnot.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

And like,

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

like the best concept in our like still to this day and now everybody's doing it but like this is way before like um everybody doing it like it was just like a crypto debit card to make it like easy for anybody to use their crypto in real time yeah then we were going to create like an exchange and create like a we had also like a thing called cbay which was going to be like you'd buy basically ebay with you know century ebay like where you can buy anything with crypto and um

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

You know, like, we just wanted to have, like, the full picture, like, all in one place so that, like, it could make it easy.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

And then, like, ideally, down the line, we would make C-chain, which would be just, like, central chain.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

Yeah.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

And then, like, we'd have, like, a chain that essentially is for normies, right?

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

Like, there's something similar right now in this space.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

um that they're trying to develop is like uh kita i don't know if you've heard of it kta but like they're basically making it it's like a google developer that created his like own layer one it's in test now right now but like he's basically um

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

making where it's like quantum resistance so it's good for normies where they have like a digital passport it's going to be kyc though um so like that that that's like the only thing that's like kind of can i can see like onboarding actual people that are like don't trust the you know the regular networks yeah yeah kyc i feel like sucks sucks but being a u.s citizen you almost have to go that route right um not really like when you start a coin

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

Um, I mean, nowadays, no, like, like on Solana, you don't have to do any KYC.

Digital Social Hour
Ray Trapani: How I Lost $800,000,000 in Crypto and Survived Prison | DSH #1585

Oh, wow.