When big numbers look small.
Bull markets are strange things.
It has been a very strange year in crypto so far. Elon got cryptic, someone let the dogs out, MC Hammer is loving splinterlands. You couldn't have made this up a year ago.
A year ago my crypto holdings didn't have any CUB, SPS, CAKE or many other tokens that have come into play through hive in the past twelve months. The price of hive was down in the 20c range i think and everything was slow and steady.
We couldn't have imagined sitting in this position right now with airdrops, huge pumps and a massive expansion of the eco-system.
Some of the numbers that are floating around now seem normal but 50K for a splinterlands card? We would have locked people up for saying things like that a while back. 800k for a region? It's madness really and hive isn't even at the top of the pile. It's only one of many chains that is seeing some madness.
The real question is whether it is sustainable or rather for how long will it last. DEFI is the new ICO and at some stage the train has to stop. #Playtoearn is seeing huge money pumped into the system and there are huge similarities to the ICO craze as so many new games are popping up, selling nft's and land for crazy money as people chase the next big thing but are built on air.
They have no actual game and very little development. They are promising it but we all know what promises are worth in the crypto space. One action is worthwhile not ideas. That is why I am so happy to have been in @splinterlands since almost the very start. THe reason that they are so successful right now and have the largest active userbase is because they build the product first. They have a working product with years of development and reshaping to suit the players.
If they tried launching now instead of four years ago then they would probably get the initial funding but would not be able to build the same product as they would be trying to get it started under a shorter time limit, more players, have it all working right from day one, grow out the userbase while sorting all of the technical issues, customer issues, server issues ect...
Instead, they have already built the technical side of it and when something pops up like the huge growth can handle the fixes as the system is already build and tested. I think that most of these new games will crash and burn with the markets as the bull run ends. They are not build well and not build to last. They are built to capture the hype and the money around #playtoearn.
What should we do?
No idea!!!
I'm still not sure what i should do.
I'm confident that splinterlands will be one of the games that stands the test of time and continues to see success. They have a great game, huge development and a hardcore community that will keep playing and buying.
Will that be enough to sustain these prices when the hype dies down at the end of the bull run.
My whole collection was worth about 6K a year ago. That number is long gone and some of my cards are valued at that on the open market by themselves. Not that they would sell at that or that they are for sale but to buy the cheapest version that is the number on show.
When it hit 10k, 20k, 60k as a collection value it was surreal. Now it can look like 100K and 15x in a year so I should be celebrating??
But the game has changed. Those are lifechanging numbers but these numbers are everywhere at the moment.
The smart thing to do would be to to sell half and take a big profit, regardless of what happens next but just like the last bull run. We don't know where the top is and the going is so good that it's hard to jump off the train while the party is in full swing.
The downside it that we don't want to still be sitting there when it runs out of track.....
It's smart to take profits when everything is green but it's really hard to do so.
I have been trying to stack tokens and cards as hard as possible but it would be smarter to take some profit and move into stables. Hedge my bets slightly.
There was a time not too long ago when these numbers were fantasy. Now they are reality but they don't feel real. If they were in my bank account i would have to keep looking at it and make sure that it was not a dream, while in crypto we can see ten Kk swings in the numbers daily and not blink an eye.
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Hehe I remember the old times, when steemit platform was taken over and everything was uncertain.
I sold all my cards for maybe 1k steem and then I forgot about this game for 2 years.
Good that I still was on hive and got informed about sps airdrop and chaos legion.
That's gave me opportunity to back and playing even without my cards.
That's exactly it. Crypto has lots of opportunities over the years. We hit some and we miss lots of them. The key to winning a few is to keep coming back and keep getting involved. It's never too late to get into splinterlands as there is a lot more to come.
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Numbers don’t feel real but the work whole crypto community put in and the risks that they took are real.
Eric Voorhees
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Sometimes when it's just numbers on a website it can be hard to match it to real life. I look at some cards that i have and what that could be worth in real life items and it hits. That could be a holiday or a car.
I like the quote form eric and totally agree with it. Keep building and keep growing.
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I would take 25 or 50% of the profit right now
I might take out some. The rest is earning away nicely so it's hard to take it out.
There is a lot of income to be earned form holding.
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I am still in the process of building but I do agree that I should start taking profits eventually. As of now, I am glad that my $1 investment into 500 untamed packs was a great idea. I still have over 100 untamed packs that I can sell to raise cash incase I need it so I think I have enough liquid.
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These are good numbers. I dont have any packs as i keep opening them when i have them. IT's too much fun.
The rental market is a great earner and the cards can keep earning while i hold them.
Building is the key and turning up every day to build a bit more.
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Fair play @niallon11 for sticking with it. I remember playing you a few times at the start in either the diamond league or the gold league. I sold most of my cards and I was just looking at some of the numbers of the ones i had and it is crazy. I'm not that angry because I played the game because I enjoyed it and never thought of it as an NFT future profit prospect. It turns out it was probably one of my largest ever opportunity costs. You should definately sell some especially of the elements that you don't use so often. I used to use all the elements with the exception of life for some reason. They just didn't appeal to me. NFT's are waning already and storage utilities look to be the new kid on the block but what do i know.
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Thanks. To be honest it was easy to stick for me as i loved playing the game. If you didn't enjoy the gameplay then it was hard to keep grinding away.
We can all be angry but years in this space have shown us that for every missed opportunity, there is another one around the corner. Nobody saw this explosion happening but it was just timing and luck for the devs.
I rent out a lot of my cards now so its hard to sell when they are earning income but i might try to offload a few of the gold ones if i can get the price. The bubble wont last forever. I'm just hoping to knock a few months out of it.
Life and death are my favorite but i dont hold any fire cards at all. Never liked it. Don't know why. I might get rid of the earth one, its only average.
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It's absolutely incredible how in crypto I can throw around sums of money that would have me rocking back and forth under my desk if it were fiat. I spent $50k on digital cards. If I spend $50 on a night out I'm mad about it.
I know it's always hard to predict mid party but I don't think we are done yet and I don't think 2021 is 2017 in crypto. There's a reason the bull run in stocks that usually ends badly every 7 yeas is over 10 years going strong now. Crypto is just getting started.
It's funny how the mind works. I'm looking at changing the car and worry about paying a few thousand for it. I spend almost a thousand a week on more splinterlands cards and don't blink an eye.
It doesn't seem quite real somehow. I know that it is but the numbers don't register as real money or that i have digital land worth more than some people have in real land. It can be hard to explain sometimes.
It does feel a lot stronger this time around compared to the last two. I am not going to run away but it is smart to keep pulling out some profits all the way along for when it does inevitably crash. Hopefully a long long time away.
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I've sold a few things here and there but ultimately it just ends up going back into some other crypto project because I'm always screwing around with something and I know that if it all crashes, it's ALL going to crash. I guess its diversification and that's good but also its concentrated bets that make real wealth.
Ultimately, all of crypto is one major concentrated bet right now though and the best bet I've seen so far is anything metaverse releated. I've been talking about it to people in my real life who don't care at all about this stuff for years and now wall street seems to have jumped on board.
I was just looking over business news and absolutely everything was about facebook being meta, roblox crushing earnings and going up 32% today, Nvidia CEO saying the digital economy is going to eventually become worth more than the physical economy, Tim COok saying crypto is a reasonable investment, Amazon jumping in the metaverse, microsoft jumping in the metaverse, etc.
Eventually that hype might be the thing that crashes everything for a while like the .com bubble but if it is, the frenzy is JUST NOW getting started with the bigger money. It's mainstream but to most old school wall street people I talk to, its still very fringe.
Up until recently I thought of SPlinterlands as a card game but they really seem to be moving toward their own slice of metaverse and that is a thrilling and magical thought about what's to come.
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