There’s no way the squares are worse at NFTs than these Texans are at PLO at these semi legal card rooms. Jesus Christ
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This is like moneymaker boom days
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Or finding a high apr staking situation on a chain with super low gas fees.
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I’ll briefly add my experiences here, though I’d say a lot more if I had the time.
I started with a roll of about $7500 about 6 weeks ago and when ETH was about 25% higher. My literal first two NFT-actions were getting scammed for ~$350 and then buying into another collection that tanked by 80% almost immediately. And I’ve had <EV luck on most of the mints I’ve had so-far, generally ending up in the bottom 1/3 of collection rarity (though with a small sample size).
But despite the inauspicious start, I’ve more than doubled my initial roll. More valuable than that, though, has been the collective experience of sharing in this with everyone else on the discord. The best UP-related comparison I can make is in the November 2019 thread live-blogging Trump’s election loss, when the forum was united in excitement and mutual appreciation. This feels similar, but with the addition of incredible generosity and shared knowledge/encouragement from everyone. Those who have struck rich are eager to share the experience with others, and those on the way up are excited to participate in something new. When someone strikes it big with a five-figure score (which happens almost nightly), the group’s culture is one of shared exuberance and celebration rather than bitterness or jealousy.
The whole experience is wild, and there are many aspects of the whole NFT phenomenon that are absolutely in a bubble. But I’m grateful that @Goofyballer posted about the Wolf Game madness because it inspired me to participate in something that - while it may not make me rich - I’ll remember forever. And I’m posting here as well, in case it inspires anyone else to join the party.
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Lot of people asking about long term holds and safe plays and I’m not sure if there any good answers in the NFT space. I think there are definitely drops that the discord would grade higher than others in terms of likelihood of being profitable at some point but we don’t really have any such formal grading system (although maybe we should?). For example, pak’s merge (a white dot on a black background) was the closest thing to a free money must-buy I’ve seen in a while. Would have graded it an A/A+ and it was a great buy for new people due to ease and the fact that it was an ~$800 to $900 auto-profit for flippers. Those drops aren’t too frequent, but seems like maybe about the level of involvement some people here have expressed who are interested but can’t stay plugged in 24/7.
Follow up poll for the crypto/NFT winners:
How much of your winnings have you taken off the table into hard currency?
- All-in baby and adding more whenever I can
- All-in but not adding more
- Skimmed off 1-25%
- Taken 26-50% out
- Taken 51-75% out
- Taken 76-90% out
- Still piddling with 1-10% in the game
- All-out baby - riding off into the sunset
0 voters
How bad do you feel about investing in the literal nut low of human civilization, cruise stonks, while the world is burning?
- Give zero shits, 4% a year is heaven
- At least it isn’t jpegs!
- I can retire by 64 instead of 65!
- Cruises are the peak of human civilization
0 voters
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I sportsbet for a living. It’s not easy and if you think you can just eyeball teams and bet and win, you can’t. Best thing for small roll is exotics like player props that don’t scale well and therefore aren’t gamed out by the big boys, but you’re still going to have to do some number crunching.
Dammit I edited the poll title and lost some votes. :(
“Hard” currency, like the kind that loses value year over year for the last several decades
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To be fair, I think everyone here agrees holding US Dollars isn’t a great long-term investment.
Sure. Hard currency sucks. It’s just a question. I’m legitimately impressed with money people here have made in crypto, and curious where everyone stands on taking gains out of the ecosystem. Not trying to needle anyone.
It’s like anything tbh. You take some gains out and leave some in. A diversified strategy. The extent people do is quite varied.
Hence the poll (that got you all salty 
)
I think we had 2 all out babies and two other that I can’t remember before I changed the title and accidentally deleted the votes.
I’m not really salty but the point you seem to miss is no one continuously shows up to punch you in the dick for investing in cruise stonks even though it is enormously low hanging fruit. Meanwhile you think telling a decent chunk of people here that you think they have tulip mania for months on end(really years) is totally fine. It’s kind of weird.
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Tbf currency is meant to be a medium of exchange, not a store of value. Inflation is a feature not a bug.
Yeah and I said I’d stop doing that and since then I’ve just asked legitimate questions on things I am curious about.
Also again - I take huge issue with the idea that I came in here just randomly insulting people. What I did was ask specifically what is there to prop up the asset if/when it goes into freefall - which is an important question one should always ask in these spots. And then in the process of that discussion, I might bring up past manias as a specific response to what I considered a nonsense argument along the lines of “yeah but my X keeps going up”.
And then at some point in the middle of that exchange others jump in and get all bent out of shape. And then the next 20 posts by me are just replies and defending myself.
One more time for the record: I am very impressed with what you guys have done. I know many have made a ton of money, dwarfing my little stonk gains. I’m fascinated with the whole enterprise.
To be very clear I’m not remotely bent out of shape. I do think it is a very confusing area of finance. The reason you get the responses you do is because you come in trying to dick punch the genre as a whole and people aren’t offended, they think your viewpoints are ignorant, which they are.
The other part is you have literal experts here (i am not a top level expert there are lots of people who know more than me) who you completely dismiss rather than try and understand how they have made their fortunes. Saying well I am very impressed and want to understand is a complete cop out when your posting history is that this is a sham/tulip mania/dotcom bubble/etc.
I guess the sticking point for me is that all the experts here all seem to be saying that the key to making money is getting in early, flipping, and moving on to the next hot thing. Calling it a “bubble” is taboo, but the players are all acting as though they’re riding a series of boom/bust markets.