OT: Investing/Stocks/Bonds/Mutual Funds/Crypto

[MickeyDavis]

I have 3 cryptos, XRP, which is going through the roof (but I've had it 2+ years and need to get to $2 to break even), Chain (bought at about $36 this week, now at $42, and Paragon which I bought at .38 and is now .46. Now of course I wish I had bought more. I only have about 3% of my portfolio in crypto, about 5% in individual stocks and the rest in low expense funds, mostly target date with a couple of others sprinkled in.

[MickeyDavis]

I understand NFT and yet I don't really get it. I go on Top Shot and search Giannis and I see a dunk of his from last summer. There are 499 in the edition, 57 are for sale, the lowest ask is $900 and the highest sale was $4999. Why would I pay $900 for a short video clip that 498 other people "own"? And how would I make money on something so many others are selling?

Let's say you buy some random "packs". If you get a good player can you really make money on it?

[StickeeFingaz]

I understand NFT and yet I don't really get it. I go on Top Shot and search Giannis and I see a dunk of his from last summer. There are 499 in the edition, 57 are for sale, the lowest ask is $900 and the highest sale was $4999. Why would I pay $900 for a short video clip that 498 other people "own"? And how would I make money on something so many others are selling?

Let's say you buy some random "packs". If you get a good player can you really make money on it?

Yes, you can sell certain moments for good money but good luck withdrawing your money. Last I checked (a few weeks ago) I still couldn’t withdraw but best believe Top Shot allows you to spend money.

[ILikeBigBucks]

Regarding NBA Top Shot - you can make money but don't expect to get rich off it. I join all the drops, but seem to only hit a little less than half the time. I've scored about 5 packs already. Had a few decent hits so far with my biggest being a rare Zion moment from the all star game pack that I sold for $1,100 after paying only $229 for the entire pack. With how many people tried getting in on that drop I only had about a 10% chance of landing a pack and then I got one of the more valuable cards i could have got. In total I only invested $15 for the initial pack and now have $1400 in my dapper account and 10 common cards in my collection. The only problem is you can't just sell off all cards once you get them because a lot of the more rare drops have requirements that you have so many cards in your collection.

On a separate note - does anyone here have any experience selling old sports cards? I've got a bunch of old cards that have just been sitting in storage including some that have some value(lots of 70s baseball cards and some bigger name NFL and NBA rookie cards from the late 80/early 90s). Any tips on how to get some money for those?

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[StickeeFingaz]

I stopped trying to get Top Shot drops but I was probably 0/10 when I tried.

I was just told they’ve implemented ID verification to allow you to withdraw your balance but there’s a $25 service fee to withdraw.

[MickeyDavis]

With sports cards if you have any that are worh some money it pays to get them graded. eBay used to be the best place to sell cards but I don't know if that's still the case.

[WeekapaugGroove]

I stopped trying to get Top Shot drops but I was probably 0/10 when I tried.

I was just told they’ve implemented ID verification to allow you to withdraw your balance but there’s a $25 service fee to withdraw.

Yeah I just got my ID verification yesterday, I've heard of it taking a while for some but mine was done in minutes.

I haven't withdrawn any yet but it's $25 service fee for a bank wire transfer but only $5 if you get paid out to a ETH wallet.

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[thonnisbeastley]

I have 3 cryptos, XRP, which is going through the roof (but I've had it 2+ years and need to get to $2 to break even), Chain (bought at about $36 this week, now at $42, and Paragon which I bought at .38 and is now .46. Now of course I wish I had bought more. I only have about 3% of my portfolio in crypto, about 5% in individual stocks and the rest in low expense funds, mostly target date with a couple of others sprinkled in.

Welcome marine! Should just trade all of your XRP for Link. Won't have to worry about breaking even, can collect real profits with Link.

[0BobLobLaw0]

Doge went insane the past 2 days.

[Matches Malone]

Doge went insane the past 2 days.

It's still going! I threw $150 in it as a joke awhile ago and just let it sit. I'm up a few hundred as of this morning.

[WeekapaugGroove]

I have a buddy who bought 160k doge coins as a joke when it was fractions of a penny, cost him a couple hundred dollars and now it's worth 64k USD. Wish I would have done the same. **** crazy

I told him to sell and buy a Tesla or something but he said he's holding to see if he can make retirement money.

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[Matches Malone]

I have a buddy who bought 160k doge coins as a joke when it was fractions of a penny, cost him a couple hundred dollars and now it's worth 64k USD. Wish I would have done the same. **** crazy

Hindsight is a bitch lol. My buddy put in around $1,000 in January of this year and it's already up to almost 40K.

[Rstuedes24]

Doge went insane the past 2 days.

I sold almost all of it literally hours before it started to go crazy, didn’t have a ton but I would’ve been up a grand or 2 had I kept it

[thonnisbeastley]

Doge is a meme and a scam. Elon Musk bought $millions worth of it at $.003, then tweeted about it. It's rise is solely based on plebs who have no understanding of crypto buying Doge because of Elon. He has made a couple of $billion off of it. The average trading volume was around $30-50 million a day, then it shot up randomly to a few $billion for a couple of days, calmed down for a week, then Elon tweeted about it. Glad some of you made some money, but beware...When he sells his stack near the end of this bull run, that **** is crashing down hard.

[Lippo]

I have 3 cryptos, XRP, which is going through the roof (but I've had it 2+ years and need to get to $2 to break even), Chain (bought at about $36 this week, now at $42, and Paragon which I bought at .38 and is now .46. Now of course I wish I had bought more. I only have about 3% of my portfolio in crypto, about 5% in individual stocks and the rest in low expense funds, mostly target date with a couple of others sprinkled in.

Welcome marine! Should just trade all of your XRP for Link. Won't have to worry about breaking even, can collect real profits with Link.

Yep, Ripple doesn’t have the future Link does..
Crypto is fun, every time I swipe Blockfolio, up 2000, down 800, up 3300, wake up, down 13k, next day up 21k, you get used to it ....kinda, feels like monolpoly money cause started in 2016 with 2500 invested and it’s done well....life is good...Mostly due to Link...
Anyway, anyone want some BNTY, have 43000, was at 0.80 at one point and now .0005, so just beware... it’s a risk....but Link and Ether are 90% of my portfolio, some BTC, Kyber, BAT, OMG, Walton, ZRX..

[jschligs]

I bought 4800 doge at .079, been a fun ride.

And to be clear, I know it's not a realistic coin. I'm in it solely for the gamble.

[WeekapaugGroove]

Doge is a meme and a scam. Elon Musk bought $millions worth of it at $.003, then tweeted about it. It's rise is solely based on plebs who have no understanding of crypto buying Doge because of Elon. He has made a couple of $billion off of it. The average trading volume was around $30-50 million a day, then it shot up randomly to a few $billion for a couple of days, calmed down for a week, then Elon tweeted about it. Glad some of you made some money, but beware...When he sells his stack near the end of this bull run, that **** is crashing down hard.

Oh it certainly a ponzi in a very straightforward way. But then again isn't all cryto and probably our entire economy at this point

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[thonnisbeastley]

Doge is a meme and a scam. Elon Musk bought $millions worth of it at $.003, then tweeted about it. It's rise is solely based on plebs who have no understanding of crypto buying Doge because of Elon. He has made a couple of $billion off of it. The average trading volume was around $30-50 million a day, then it shot up randomly to a few $billion for a couple of days, calmed down for a week, then Elon tweeted about it. Glad some of you made some money, but beware...When he sells his stack near the end of this bull run, that **** is crashing down hard.

Oh it certainly a ponzi in a very straightforward way. But then again isn't all cryto and probably our entire economy at this point

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Maybe in the early days. There are plenty of crypto projects with real life use cases that will change and make the world a better place. Link being one of them.

[ReasonablySober]

There is absolutely no way in which crypto is good for the world.

[thonnisbeastley]

There is absolutely no way in which crypto is good for the world.

Spoken like a true boomer.