I’ve seen this theory floated, and don’t think it really happens often. You have to pay 2.5% fees to sell, and one sale isn’t going to inflate your bags. You also run the risk of trying to inflate the price, only to see others undercut you to sell their holding.
Where it does happen is with pre-sales - devs will sell say 2k of a 10k collection. In order to ensure the remaining 8k sell out, the 2k is often given to lots of insiders and if price starts dropping them might buy some to prop it up.
I was referring to this sale
Are you telling me this legitimately went from 0 to Salvator Mundi in one sale and there is no funny business going on?
It easily could be inflated, but I don’t think the reason you said - selling it to yourself to dump on someone else would be the reason. It’s doubtful anyone is going to overpay for that particular punk (or any other punk) just because of that sale.
If it’s inflated, it’s more likely to be money laundering than a self-sale to inflate the price.
I never said that. I said money laundering.
My bad - I misinterpreted what you meant by people selling it to themselves.
Not making any judgement about the article just the quote in the blurb. Literally no one under 70 “just didn’t get this internet thing”. One clip of some hot-take moron saying the internet is a fad in the 90s does not count.
Depends on what part of the decade you’re talking about. It was very much the case in the first half. Take this trip down memory lane for a refresher. It’s 1994 and McDonald’s doesn’t own its domain name yet. Neither do most other major corporations.
How many people even had a personal computer in 1994? I didn’t get my first until 1996 ($2300 for a Pentium 233). Well unless you count the Commodore 64 in high school.
No we hated those guys. C64 way cooler.
I would have bet and lost a lot of money on which of us had a PC first.
A decent PC with color monitor in the mid-90s was crazy expensive. A commodore 64 in the late 80s - you could get the whole setup and hook it up to your TV for less than $200.
Media says the seller sold it to himself.
Oh, I remember. For my first PC I had to buy individual pieces over the course of 6 months before I finally had a working computer. Only way I could afford to do it.
My dad on his civil engineer salary plunked out $6K for that 50 mb hard drive capacity computer.
God bless him.
My family had a Tandy 1000-tx when I was kid.
Looked like this except one of the drive was a 5.5 floppy disk drive.
Spent so much time playing Space Quest on that thing.
I’m sure this is already happening but is it possible to create a poker site where instead of rakeback you mint a new NFT for every $X in rake generated add it to a random pot?
