For me it’s not just my opinion that NFTs/crypto may be overpriced, I think the entire market and almost everything with a price tag on it is higher than it’s going to be in 2-3 years. Personally, I think we have a deflationary spiral like a motherfucker so I’d imagine that nfts would some of the stuff that gets absolutely demolished. But I guess that doesn’t really matter much in the larger scope of things.
I somewhat follow cardano and I remember when it dropped down and shook out a lot of the rec money and sat around 4-7cents for years, the forums were filled with folks spiking the football and almost no one spoke about buying it despite it being 1/20 of the price with very little change in the biz. Price really fucks with peoples view of things. If NFTs are here to stay, i’d imagine that you get another insane buying opp here considering you’re going to have one of the largest “I cant believe I fell for monkey pics” that brings prices to lucrative levels like it did with crypto before. Because I don’t see how it avoids a crash for other reasons. This forum might be dead though but that would just be a good signal, i guess.
Don’t all stable coins have a similar problem though? Sure, your holdings backed by dollars are fine obviously. But if you’re having to buy other assets at peak values, you’re in trouble if those assets lose value.
Ok obv i’m trolling a bit but God in heaven that’s saying the quiet part out loud. We all know if you buy some KO stonks you don’t have to put in a shift down at the Coca-Cola bottling plant but you don’t even need for the stonks to go up, you just need other people to keep putting in shifts at the plant, and that’s Actually Good!
I mean I’ve said it already and it’s why this thread sucks, but,
and I’m only now really internalizing the apparent impasse, like, yeah, in crypto you have to actually do the bare minimum to realize profit and not lose it.
This guy’s not really a friend per se, as we’ve never met irl, but met on 2p2 and have talked a ton of travel and poker together and follow each other on IG.
Anyway, this guy has some of the most nuts swongs ever. He’s actually a very talented PLO player but has way too much gamble.
He’d already busted a couple 6 figure rolls and as of 3 years ago he was working the counter at a Subway restaurant.
During COVID, he started sunrunning PLO and leveraged to the hilt in Bitcoin. Last year he also binked 2 low 6-figure scores (1 live, 1 online) and was still sun-running PLO and playing as high as 100/200 online.
His net worth went from dollars to close to a million in about 2 years.
Since the crypto pullback a couple weeks ago, he’s gone pretty silent, but he’s been heavily leveraged in BTC in the past, so I imagine it wasn’t great for him. Anyway, he finally broke radio silence and posted in IG stories about having put $110k in UST which represents a “significant portion of his net worth”. Hopefully he posts more, but he’s the type that mostly only mentions wins. Gotta think he might be going busto again.
he always has close to 100% of his net worth in some random penny stock or shitcoin, last year he binked a million from putting ~ 200k in MANA, he then put the entire million into XLM and is down ~600k on that and still owes the IRS around 250k from his bink last year
