NBA Top Shot - High Risk, High Reward?

[tjforce]

Originally Posted by boxbuster7

Probably why many new 2020 entrants into the physical card market have left the building

It takes a little skill now to be profitable.

I will say that at least in cards there are many more collectors still in it, so you have a performance aspect that TopShot/AllDay doesn't have. I.E. If you chose the right Jalen Hurts cards this offseason, you are doing well.

[hobbytime]

Fresh Threads challenge has only 54 completions.

If this isn't a sign the platform is dead, what is?

[boxbuster7]

Originally Posted by hobbytime

Fresh Threads challenge has only 54 completions.

If this isn't a sign the platform is dead, what is?

I think top shot is facing an interesting crossroads...How long do they pretend that things are "fine" - obviously this stuff is never going to actually go to Zero. I don't know, maybe it will? But I doubt it. They have a partnership with the NBA and if it is anything like cards, it means this stuff will be shoved down our throat no matter if there is zero interest.

Really an odd situation. And I'll say the jump from s1-s2 killed the platform. Basically X10 the mint counts. Not s2-s3 like many people like to think.

Roham is laughing all the way to the bank.

[Brobocop]

Originally Posted by boxbuster7

I think top shot is facing an interesting crossroads...How long do they pretend that things are "fine" - obviously this stuff is never going to actually go to Zero. I don't know, maybe it will? But I doubt it. They have a partnership with the NBA and if it is anything like cards, it means this stuff will be shoved down our throat no matter if there is zero interest.

Really an odd situation. And I'll say the jump from s1-s2 killed the platform. Basically X10 the mint counts. Not s2-s3 like many people like to think.

Roham is laughing all the way to the bank.

There is 100% a chance it goes to zero. It’s a digital asset that’s held on the site and not in your own wallet. Look at what’s going on with FTX. I wouldn’t trust any crypto or NFT asset right now.


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[boxbuster7]

Originally Posted by Brobocop

There is 100% a chance it goes to zero. It’s a digital asset that’s held on the site and not in your own wallet. Look at what’s going on with FTX. I wouldn’t trust any crypto or NFT asset right now.


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Thats crazy - they've been the official crypto sponsor of the MLB playoffs for the last two years

[boxbuster7]

Originally Posted by hobbytime

Fresh Threads challenge has only 54 completions.

If this isn't a sign the platform is dead, what is?

I actually think this post was a bit misleading - it is an active challenge with a max of only 425 completions and 3 days still remaining. If you are referring to the Dejounte Murray fresh threads.

I do think the platform is pretty much dead, so not arguing that.

[ninjacookies]

I'm sure the FTX debacle will do nothing but aid buying pressure on these NFT platforms. Sorare SBF proof.


Put 10 of my best up for auction (at what I consider below reasonable starting prices) on Panini last week. Not a single bite. I guess I need to be more reasonable.

[hobbytime]

Those rookies out of /4000 are pretty low priced now. Some are actually pretty worthless too.

[Brobocop]

Originally Posted by ninjacookies

I'm sure the FTX debacle will do nothing but aid buying pressure on these NFT platforms. Sorare SBF proof.


Put 10 of my best up for auction (at what I consider below reasonable starting prices) on Panini last week. Not a single bite. I guess I need to be more reasonable.

BlockFi is going down now as well. Feel like crypto is down for the ten count.


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[ninjacookies]

Originally Posted by Brobocop

BlockFi is going down now as well. Feel like crypto is down for the ten count.


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We've seen this play every few years. Manditory.

For the record, BTC went from 20k to 3.5k last year. I anticipate at least a correction down to $12k this time around, if not more. Crypto would never be crypto without scandals, exitscams and $hitstorms.

[Brobocop]

Originally Posted by ninjacookies

We've seen this play every few years. Manditory.

For the record, BTC went from 20k to 3.5k last year. I anticipate at least a correction down to $12k this time around, if not more. Crypto would never be crypto without scandals, exitscams and $hitstorms.

Can you think of a time where there has been this many scandals with this many people losing all of their crypto investments? Every other day another platform is going down. I truly believe that if crypto ever does take off it needs heavy regulation and brokers that aren’t criminals. Those things make crypto uncool so you lose part of your audience while another has already left due to losing everything they put in. I don’t think this is another correction just like I don’t feel Top Shot will ever come close to the peaks.


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[ninjacookies]

Originally Posted by Brobocop

Can you think of a time where there has been this many scandals with this many people losing all of their crypto investments? Every other day another platform is going down. I truly believe that if crypto ever does take off it needs heavy regulation and brokers that aren’t criminals. Those things make crypto uncool so you lose part of your audience while another has already left due to losing everything they put in. I don’t think this is another correction just like I don’t feel Top Shot will ever come close to the peaks.


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Off the top of my head:

Mt Gox
Mintpal
Bitconnect
....

and pretty much every pump n' dump shitcoin released daily for the past 15+ years.

If you haven't been in crypto long, you probably wouldn't understand.

[rifleman69]

Originally Posted by Brobocop

Can you think of a time where there has been this many scandals with this many people losing all of their crypto investments? Every other day another platform is going down. I truly believe that if crypto ever does take off it needs heavy regulation and brokers that aren’t criminals. Those things make crypto uncool so you lose part of your audience while another has already left due to losing everything they put in. I don’t think this is another correction just like I don’t feel Top Shot will ever come close to the peaks.


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If you have your coins on your own wallet/cold storage...these exchange problems don't bother you in the slightest. Own your keys, own your coins.

[Brobocop]

Originally Posted by rifleman69

If you have your coins on your own wallet/cold storage...these exchange problems don't bother you in the slightest. Own your keys, own your coins.

I get that but for a lot of people, the average person let’s say, they’re not going to want to do that. Exchanges make adoption easy. Adoption fuels growth. I get that there have been exchanges to fail, but did Bitconnect have the naming rights to the Heat arena or did those companies run Super Bowl ads? This is a much larger scale collapse that’s going to impact many more people with this much publicity? Maybe this is a blip but it’s just hard for me to see people dipping back into crypto or going in for the first time after all of this.


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[ninjacookies]

Originally Posted by Brobocop

I get that but for a lot of people, the average person let’s say, they’re not going to want to do that. Exchanges make adoption easy. Adoption fuels growth. I get that there have been exchanges to fail, but did Bitconnect have the naming rights to the Heat arena or did those companies run Super Bowl ads? This is a much larger scale collapse that’s going to impact many more people with this much publicity? Maybe this is a blip but it’s just hard for me to see people dipping back into crypto or going in for the first time after all of this.


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Lol. This is literally the argument every time a black swan event happens in crypto. 'But it's WAY bigger this time! Institutional investments! Never gonna recover! People are PISSED!' I didn't even include the China and South Korea banning scares.

It doesn't matter. Exit scams and controversy are the fabric of crypto.

You can copy paste all the arguments about a collapse-to-zero scenario since 2008. It's been said before.

Comparing TopShot and NFT's to bitcoin doesn't compute. One has a 2 year history and zero current demand...the other still commands $16k with a 33 million dollar daily volume.

But I digress. I'll be around when it rebounds, just like I was when I created the 2017 megathread in the Coins & Currency sub when it was still $1k with fears it was going to tank due to corruption and lack of consumer protections.

[rifleman69]

Originally Posted by Brobocop

I get that but for a lot of people, the average person let’s say, they’re not going to want to do that. Exchanges make adoption easy. Adoption fuels growth. I get that there have been exchanges to fail, but did Bitconnect have the naming rights to the Heat arena or did those companies run Super Bowl ads? This is a much larger scale collapse that’s going to impact many more people with this much publicity? Maybe this is a blip but it’s just hard for me to see people dipping back into crypto or going in for the first time after all of this.


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FTX sponsored the Heat Arena, Cal-Berkley's football field, MLB Umpires (LOL), and so much more. No one did any due diligence...just took the money and smiled.

[Brobocop]

Originally Posted by ninjacookies

Lol. This is literally the argument every time a black swan event happens in crypto. 'But it's WAY bigger this time! Institutional investments! Never gonna recover! People are PISSED!' I didn't even include the China and South Korea banning scares.

It doesn't matter. Exit scams and controversy are the fabric of crypto.

You can copy paste all the arguments about a collapse-to-zero scenario since 2008. It's been said before.

Comparing TopShot and NFT's to bitcoin doesn't compute. One has a 2 year history and zero current demand...the other still commands $16k with a 33 million dollar daily volume.

But I digress. I'll be around when it rebounds, just like I was when I created the 2017 megathread in the Coins & Currency sub when it was still $1k with fears it was going to tank due to corruption and lack of consumer protections.

I hope you're right because there are a lot of people out a lot of money right now.

I just could never stomach the huge dips and spikes as a conservative investor.

[2010GBPackers]

Crypto will be adopted by the masses when a government backs it. Once the US, or any other sovereign 1st-world country, creates its form of crypto there is no way they let Bitcoin operate in the same space; it'll be pushed back into the black-market world of Silk Road.

Does anyone honestly believe - let's say Americans - that citizens are going to trust a digital currency (say Bitcoin) over another digital currency backed by a government? Sure, they'll always be the off-the-grid appeal of it for the 1%, but I'd view it more as a collectible in the future than anything which would be useful.

[boxbuster7]

Originally Posted by ninjacookies

We've seen this play every few years. Manditory.

For the record, BTC went from 20k to 3.5k last year. I anticipate at least a correction down to $12k this time around, if not more. Crypto would never be crypto without scandals, exitscams and $hitstorms.

That was 2020. For the record I thought Blockfi was a complete scam the second I heard about it. FTX seemed legit though. But you have to just assume these companies are guilty from here on out until this stuff gets regulated.

[ninjacookies]

Originally Posted by boxbuster7

That was 2020. For the record I thought Blockfi was a complete scam the second I heard about it. FTX seemed legit though. But you have to just assume these companies are guilty from here on out until this stuff gets regulated.

FTX seemed legit because they had celebrity backing. It took a 5 second google search to see they were based overseas out a traphouse in Curacao. Regulation isn't a factor when these companies purposely seek out sovereign territories like gambling sites have been doing for decades. Everyone needs to DYOR.

The only exchange I trust is coinbase, but only because they're US based. And even then, I'm not keeping my funds on for extended periods of time.

[Giroux]

Originally Posted by ninjacookies

FTX seemed legit because they had celebrity backing. It took a 5 second google search to see they were based overseas out a traphouse in Curacao. Regulation isn't a factor when these companies purposely seek out sovereign territories like gambling sites have been doing for decades. Everyone needs to DYOR.

The only exchange I trust is coinbase, but only because they're US based. And even then, I'm not keeping my funds on for extended periods of time.

+1 for Coinbase. Been around for a long time and the CEO Brian Armstrong seems to be in it for the right reasons.

[Brobocop]

Originally Posted by ninjacookies

FTX seemed legit because they had celebrity backing. It took a 5 second google search to see they were based overseas out a traphouse in Curacao. Regulation isn't a factor when these companies purposely seek out sovereign territories like gambling sites have been doing for decades. Everyone needs to DYOR.

The only exchange I trust is coinbase, but only because they're US based. And even then, I'm not keeping my funds on for extended periods of time.

Add to the fact that Coinbase is a public company so they have at least some oversight from Deloitte and Grant Thornton before them. Probably the only exchange I'd do any business with if I dipped my toes into crypto. Set up a wallet with them but never did anything with it.

[ninjacookies]

Originally Posted by Brobocop

Add to the fact that Coinbase is a public company so they have at least some oversight from Deloitte and Grant Thornton before them. Probably the only exchange I'd do any business with if I dipped my toes into crypto. Set up a wallet with them but never did anything with it.

This is the reason why crypto will continue to thrive. Because it appeals to the lowest target demographic. Scams don't phase these people...it only encourages them to chase losses.


Wait. I kind of dissed myself just now, didn't I.

[matt roberson]

Had some dapper balance so I tried the pack drop for thanksgiving. Tried for one order of ten packs and got 7.

Ripped 4 so far and pulled a Scottie Barnes rare and a Porzingis #1. Gonna rip the rest in a bit.

[mjohnatgt]

I got all 10 I requested:
Got one 1x SGA /5555 Spotlight and 2x Rare Barnes /888 Throwdowns.
There was even a common with a current mint count of 500, but since it's CC it will grow. I guess Season 4 will not be nearly as overminted as S3, but demand is nearly nonexistent.