NBA Top Shot - High Risk, High Reward?

[b2k1121]

Originally Posted by jcardstore

I am amazed that you cannot comprehend my question. I thought it was straightforward and simple.... I guess not



What is so hard to understand about someone who is unable to get a pack in the random queue being hesitant about putting in their own money with long wait times for withdrawals? Is it really that confusing to you?

I really don't know what's going on here or what you are not understanding about this but I'll try to explain how this would work for a new user from the very start.

I'm a new guy that just created an account. I have spent $0 so far. I join every pack drop for the chance to get a pack. Eventually I am going to get a pack. Once I win the queue lottery I pull out my credit card and purchase the pack for say, $14. Now I have $14 in the system and can use whatever funds I get from selling the contents of the pack.

Not sure how else to explain this one.

[sebreg]

Originally Posted by b2k1121

No, you buy the pack with a credit card when its your turn to purchase.

Gotcha, I was confused on that aspect, thought you had to have dapper balance.

[jcardstore]

Originally Posted by b2k1121

I really don't know what's going on here or what you are not understanding about this but I'll try to explain how this would work for a new user from the very start.

I'm a new guy that just created an account. I have spent $0 so far. I join every pack drop for the chance to get a pack. Eventually I am going to get a pack. Once I win the queue lottery I pull out my credit card and purchase the pack for say, $14. Now I have $14 in the system and can use whatever funds I get from selling the contents of the pack.

Not sure how else to explain this one.

You must be in your own little world because that is not even close to what I was saying.

Carry on

[b2k1121]

Originally Posted by jcardstore

You must be in your own little world because that is not even close to what I was saying.

Carry on

You can just admit that you didn't know what you were talking about and move on, no one will hold it against you.

[MKCO]

You have to meet the activity requirement, which is not spelled out but appears to be either $1k in sales or 1k in dapper balance. If you don't meet the activity requirement you are unable to request a cashout. So it's not as simple as signing up & waiting as some may suggest

[jcardstore]

Originally Posted by b2k1121

You can just admit that you didn't know what you were talking about and move on, no one will hold it against you.

You just didn't understand what I was saying and still don't apparently.

[sebreg]

Originally Posted by MKCO

You have to meet the activity requirement, which is not spelled out but appears to be either $1k in sales or 1k in dapper balance. If you don't meet the activity requirement you are unable to request a cashout. So it's not as simple as signing up & waiting as some may suggest

So anyone sub 1k balance/sales cannot withdraw from the dapper ecosystem?! Is that in their terms of service?

[b2k1121]

Originally Posted by sebreg

Gotcha, I was confused on that aspect, thought you had to have dapper balance.

Right, you don't have to ever deposit anything onto the site to get started, which is probably why that jcard guy is so confused.

[b2k1121]

Originally Posted by jcardstore

You just didn't understand what I was saying and still don't apparently.

The first thing you asked was what does a new person do if they are 0/8 on getting packs. I said, if they are skeptical, just keep waiting for a pack instead of depositing money. So please explain what I'm missing from your question.

[yiguiri2002]

Hopefully after this drop, prices finally correct themselves so I can actually start collecting them

[MKCO]

Originally Posted by sebreg

So anyone sub 1k balance/sales cannot withdraw from the dapper ecosystem?! Is that in their terms of service?

below is what the T&C says. It does not tell you what the threshold is, nor does it allow you request a w/d from dapper balance prior to the threshold being achieved.

"There are a few instances in which an identity check may be requested:

When your account hits a threshold of financial activity from purchases and sales
When you submit your first request to withdraw from your Dapper Balance"

[b2k1121]

Originally Posted by sebreg

So anyone sub 1k balance/sales cannot withdraw from the dapper ecosystem?! Is that in their terms of service?

They have never given official terms on this, which they said is intentional so 'bad actors' don't know the thresholds. The 1k balance/sales is just to trigger KYC which leads to withdraws. I would imagine KYC still triggers at some point for everyone regardless of the balance/sales.

[jcardstore]

Originally Posted by b2k1121

The first thing you asked was what does a new person do if they are 0/8 on getting packs. I said, if they are skeptical, just keep waiting for a pack instead of depositing money. So please explain what I'm missing from your question.

Yea, that's a really great way to build a customer base and honestly a dumb attitude to have.

If people like the product, want to buy moments, and can't get packs they have to deposit money to buy moments. They have a right to be skeptical about not being able to withdraw that money in a reasonable amount of time and you can't seem to figure out why.

If you want topshot to grow their userbase, having the attitude "well if you can't get packs just don't participate" is dumb.

[Devi8or]

Originally Posted by sebreg

So anyone sub 1k balance/sales cannot withdraw from the dapper ecosystem?! Is that in their terms of service?

only thing I saw was that the 1k withdrawal is the maximum you can take out at one time unless you have a verified trusted account. I didn't read anything about a minimum

https://blog.nbatopshot.com/posts/id...on-withdrawals

[jcardstore]

Yea I don't think there is a minimum balance to be able to withdraw. Would make no sense.

It's $25 for a wire I believe on top of whatever the fee is. Don't think there's a flat withdrawal fee for ETH but I'm not positive

[redsfaithful]

Originally Posted by b2k1121

They have never given official terms on this, which they said is intentional so 'bad actors' don't know the thresholds. The 1k balance/sales is just to trigger KYC which leads to withdraws. I would imagine KYC still triggers at some point for everyone regardless of the balance/sales.

I signed up for Dibbs yesterday and had to do KYC before depositing, everyone complaining about this with Top Shot has a point. It's wild that they still don't require KYC upon signup even though they are so backlogged.

[Devi8or]

Originally Posted by jcardstore

Yea I don't think there is a minimum balance to be able to withdraw. Would make no sense.

It's $25 for a wire I believe on top of whatever the fee is. Don't think there's a flat withdrawal fee for ETH but I'm not positive

heres what it says

ARE THERE ANY FEES FOR WITHDRAWALS?

Fees are $5–10 for USDC withdrawals (enough to cover the transaction fee / “gas” on the Ethereum blockchain), and $25 for wire transfers, which covers our cost of providing the wire transfer service.

[b2k1121]

Originally Posted by jcardstore

Yea, that's a really great way to build a customer base and honestly a dumb attitude to have.

If people like the product, want to buy moments, and can't get packs they have to deposit money to buy moments. They have a right to be skeptical about not being able to withdraw that money in a reasonable amount of time and you can't seem to figure out why.

If you want topshot to grow their userbase, having the attitude "well if you can't get packs just don't participate" is dumb.

I mean, it's a good thing I'm not on the product team for TopShot tasked with building a customer base then.

I was specifically responding to someone that was skeptical about the withdraw system and if they would ever get their money back. My response was only to those types of people that they don't actually have to commit anything until they get a pack and that amount is very low. I'm not going to tell someone that is already skeptical to just deposit a bunch of money and start buying stuff.

I'm pretty sure you realize that I wasn't saying that every user type should follow this behavior.

[CVTS33]

Anyone who wants to withdraw money, it's better to just learn some basics about Crypto and take it in USDC. There is a fee per withdraw, but there is a fee with any crypto transaction. Turning crypto into currency isn't complicated and really, you may just want to hold the Ethereum until the economy shows signs of improvement.

When I asked to withdraw funds it took about 3 days from when I made the request. I see all sorts of people saying how brutal it is to take money out, I'm not saying they're lying, but I will say that I had zero issues.

[jcardstore]

Originally Posted by b2k1121

I mean, it's a good thing I'm not on the product team for TopShot tasked with building a customer base then.

I was specifically responding to someone that was skeptical about the withdraw system and if they would ever get their money back. My response was only to those types of people that they don't actually have to commit anything until they get a pack and that amount is very low. I'm not going to tell someone that is already skeptical to just deposit a bunch of money and start buying stuff.

I'm pretty sure you realize that I wasn't saying that every user type should follow this behavior.

Yes it is.

You'd think you would want the barriers of entry to the ecosystem to be as little as possible

[sebreg]

Yeah, given all the issues seems would save a lot of headaches/confusion if kyc was executed on front end

[BosCardGuy]

Originally Posted by b2k1121

I really don't know what's going on here or what you are not understanding about this but I'll try to explain how this would work for a new user from the very start.

I'm a new guy that just created an account. I have spent $0 so far. I join every pack drop for the chance to get a pack. Eventually I am going to get a pack. Once I win the queue lottery I pull out my credit card and purchase the pack for say, $14. Now I have $14 in the system and can use whatever funds I get from selling the contents of the pack.

Not sure how else to explain this one.

Thats... not at all what he was saying..

[MKCO]

Originally Posted by sebreg

Yeah, given all the issues seems would save a lot of headaches/confusion if kyc was executed on front end

Agreed. Dapper Labs did a $250M capital raise last month, i'm assuming they were highly incentivized to grow user count in prep for the deal. Doing KYC upfront at time of signup would have greatly slowed the user count and transaction volume growth that was happening in early feb

[b2k1121]

Originally Posted by jcardstore

Yes it is.

You'd think you would want the barriers of entry to the ecosystem to be as little as possible

Well good news for the skeptical guy I replied to because they are dropping packs right now that are available to literally anyone that wants one for $9

[jcardstore]

Originally Posted by MKCO

Agreed. Dapper Labs did a $250M capital raise last month, i'm assuming they were highly incentivized to grow user count in prep for the deal. Doing KYC upfront at time of signup would have greatly slowed the user count and transaction volume growth that was happening in early feb

I heard that when they 1st started doing KYC it was a single person at dapper. Now take that with a grain of salt but would make sense based on how bad it was when things 1st started popping off