Sure the relative positions on those change a lot. But they all seem to have significantly increased market cap over the period.
Assuming that market cap is a rough proxy for price. Wouldn’t buying and holding any of the top 3 at pretty much any point in that video have given significant return?
One legitimate question I have, not trying to stir up shit, how opaque is the NFT market? Obviously with BTC and ETH I can instantly see the price.
For NFTs, I can see what the last bored ape sold for. But I don’t know those aren’t the same person trading across two accounts, or two buddies making a swap to make the price look huge, right?
I guess in the discord you would know if the only big sales are suspect and people start talking about dropping the price? Is there any other way to tell if the market is moving up or down?
Yeah IDK dude maybe let this one go, I don’t have any $ this stuff right now but I think its awesome most people here who are putting in the time are making at least some money and will just let them do their thing and occasionally post memes from @CoinersTakingLs twitter because they’re hilarious.
Maybe another way to look at it is almost certainly is only the smallest number of people who have put money into this entire concept have lost money in it over the course it being around for ten years.
I’m just trying to understand how NFT price discovery works. Like I can see that Bored Ape #8585 sold for $2.3M 3 months ago (or whatever ETH was worth then). But he highest bid I currently see is $16k.
Clearly he’s not selling it for $16k. But it seems like the only way to find out what he would actually sell it for is to actually buy it?
I’m just trying to make sure I have that right and there isn’t some other public price discovery method. Like ebay buy it now or something.
You didn’t cause anything. You bought in here and immediately panic sold for a loss. Isn’t that the exact thing you’ve been lecturing everyone about? I don’t understand why you’d ever bring up value investing if this is your approach. Value investing gets you to those giant green mountains at least.
Can we stop? I agreed to stop. Go find the posts where I bought in. There was no panic. I was doing it mostly as a joke and always planned to sell the second it fell at all. I was never doing anything remotely like value investing. Also I was curious to see how painful the coinbase cash out process was because I didn’t trust them at all (turns out it was very easy). Dammit. Ok now I’m stopping.
Edit ok found some posts:
bidding is more prevalent in slow periods. lately bayc is pumping and people aren’t accepting offers, they’re listing high and getting sales. importantly, there isn’t an easy way to send global offers across a 10,000-piece collection on opensea. looksrare, the new platform trying to make a name for itself, has this feature so i imagine the offers are on there
if an ape sells for a bit over what we’d expect it to go for, it’s almost always a celebrity or famously rich person buying in on one they vibe with, not really trying to get the best price.
the idea that the big nft sales are faked is an urban legend. it can happen, but they’re paying uncapped 2.5% fees to opensea so it’s not like people can do it with impunity
i think the person who sold that ape is Matt Kalish who is also the CEO of draftkings. which is pretty insane considering the amount of activity on his account (unless he is not @kalish but i’m pretty sure he is).
dude is putting more hours than imjosh and he runs a multi billion corporation (into the ground perhaps)
Thanks - yeah it seems like unlikely someone would pay that much to pump something.
Is that the highest known sale for an ape?
no clue. i’d assume the biggest sales should be done off OS (hence those transfers) but i’m pretty clueless
Died
$5.8 million
https://twitter.com/boredapebot/status/1477491344994091008
Damn. I like the $2.3M royal psychedelic ape a lot better.
Oh hey this one does have a buy now.
I never bid on ebay because I’ve never won an auction once (another game I suck at). I only do buy now.
Just buy both and make yourself a royal psychedelic mutant.
Sounds good. Can I get a smart contract backed by future sales of my book?
Probably because you keep repeating it but it’s not clear at all what you think “it” is.
Is Bitcoin a bubble? It’s down 35% from ATH.
Is Ethereum (also down 35%) a bubble? Which part? The native token? The other tokens issued on it? The blockchain itself? The Dapps that run on it? Which ones? All of them?
Are the alt chains a bubble? Which ones? Just those that shot up last Spring and Fall? All of them? How about the promising new ones with tiny market caps?
Are all NFT’s a bubble? Some? Just PFP’s? Digital artwork? Gaming assets? Future proof of ownership concepts not yet realized?
Is the nascent world of blockchain gaming a bubble? Seems like it’s just getting started to me.
Are the specialized chains targeting specific use cases a bubble? Which ones? Global settlements? Mobile payments? Digital identity? Privacy? Oracles?
Are alt coins a bubble? Stablecoins? Shitcoins drill to zero in days or hours. Meme coins derive their value precisely from the joke that they have no use or value.
You constantly dismiss all of this with a hand wave. I think you’d get a lot less pushback if you showed a better understanding of how large and diverse the crypto world is and then took the time to explain precisely what parts you think are a bubble and why.
Of course I don’t have an opinion on all that stuff. Why would I? Do you think the normies sending BTC to the moon have an opinion on all that? If it’s pulled in NBA stars and the like, and speculators looking to make a quick buck, then that would be a good candidate for a bubble imo.
WHAT would be a good candidate for a bubble? What is it you think you are talking about? This is kind of important.
Is it ok to think capitalism as a whole is a bubble?
