Other than Kanye's “bro”-heavy presidential bid, the VMA moment everyone's talking about today is the totally shocking — and completely impromptu — throwdown between Nicki Minaj and Miley Cyrus.

On Monday (Aug. 31), a video created by a fan, who clipped a few seconds from MTV's All Access Live stream, claimed to show Miley’s reaction. Various media outlets have even claimed its authenticity but it's actually not the full footage. In the fan's version, Miley has an “Oh, sh-t!” reaction, looking like a deer in headlights as she mouths “What?” in response to Nicki's pointed jab.

But guess what? That footage doesn’t tell the full story.

We strategically had cameras set up all around the Microsoft Theater to get all-encompassing views of last night's action -- think of it as our version of “The Real World: VMAs.” Because you just never know when you’re on camera (hint hint, Kanye). Check it out:

See, one of our cams caught Miley’s REAL reaction to the dig. And here's what really happened: when Miley mouthed “what?" it was actually during an earlier part of Nicki’s acceptance speech, when she was thanking her “epic” fans.

Here’s the kicker: Miley was already facing Nicki before the dig heard 'round the world. She turned to Nicki and smiled just as she started to say “And now…”, seemingly thinking that Nicki was about to throw it back over to her to introduce the next segment.

Instead, Nicki finishes by saying, "... back to this bitch who had a lot to say about me the other day in the press: Miley, what’s good?”

As you can tell, Miley’s reaction wasn’t as shocked as everyone thinks it was. In fact, she composed herself right away and wasted no time planning a semi-sassy retort. After the taunt, she replied, “We're all in this industry. We all do interviews and we all know how they manipulate sh-t. Nicki, congratu-f--kin-lations.” The camera then cut back to Nicki, who seemed to mouth back, “Bitch."

So now you know. That whole speechless reaction? Not the real thing.