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Everything posted by gyroprotagonist
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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
gyroprotagonist replied to surlybevo's topic in Business and Markets
another big fear of using something like solana is that bots will completely take over. i think happened with wax from what i have picked just listening to people bitch online. have done no research of my own on this so take it as hearsay. I am ignorant of what makes solana more inviting to bots, though. But i have seen that the solana drops are literally over in 1-2 minutes from what i have seen so not sure if they are getting botted as well. with no gas fees, bots can set a sale at a certain price, the when someone agrees to the purchase price can autocancel on the front end of the tx somehow. Then raise the price slightly and see if the fish bites again. also can do something similar when buying from someone by bidding below asking price, then autocanceling when user accepts. Then rebid at lower price and see if a frustrated user will bite. but something will/has to bridge the gap between trust and lower gas fees. gas wars have been insane the last 2 nights. a project will cost .05 eth but when you account for gas needed to push your tx to the front of the line the avg cost will be .15 to .25 per nft. gas has been high af all day. maybe it's confirmation bias that the market is pumping, but this happened Sunday night. Bored Apes had previously announced a free companion NFT for each ape holder (10K). Bored Apes is basically an NFT blue chip with a floor of 50eth (lowest asking price to sell) that was created all of 3.5 months ago. So then the devs also do a little money grab and do an unannounced public sale of another 10K of the same companion nft. the starting price of the public sale was 3ETH and it went down like .1 eth every 5 mins. not sure what it got down to, but I bought in at 2.9eth. 5 minutes after it had sold out fomo was rampant as people were caught off guard and were not liquid to buy right away and missed out. i waited 30 minutes then listed for 7.9 eth and it sold almost instantly. 5eth net. - So the devs made 10K * 2.85eth = $91 million (ignoring the royalty fees which are 5% on each sale) in an hour. The avg sale was probably at 6eth for that first night, so everyone who either bought a public sale for 3eth or got one for free made a ton of money and there were buyers lining up left and right get in on this and paying $20K+ for the privilege. -
had some decent sales early on. gas was just a deal breaker all day today. I wanted to buy in on some cheap projects, but it was a no go right now. here is a nifty tracker for several projects. https://wgmi.io/ matic is getting a workout with crypto raiders recruitment event going on now. This is a huge first step for their defi system to see how it works. First time that users are spending the in-game currency for a game related use. these team has just been crushing it.
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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
gyroprotagonist replied to surlybevo's topic in Business and Markets
for sure influencers get paid to pump. And yes, some nft projects are money grabs with no real plan and leave a lot of people holding bags they can only sell underwater. smart money gets in at mint and then starts selling as demand overflows from people missing out on mint who can only buy on the open market. you make a profit from that and then decide whether to hold any if it keeps running up or just exit and move on to the next thing. as to what makes it valuable? if you figure that out let me know. nft games are hot right now, some are even putting out their own coins and you can defi within their ecosystem (might have seen axie in the news lately) as buyers like to have utility for the nft instead of just a pretty picture. ZED run (the horse racing game) has that utility as well. all the new games run on MATIC/polygon (side chain of ETH) which eliminates the gas fees for all the multiple tx needed for the game. MATIC/poly has gone up in recent weeks. I am not well versed at all on the coins and have pretty much decoupled the price of eth from USD in my mind for most trades. solana is popping up as a new market and eth nft'ers are ranging out and buying solana to participate in those markets. This is why I am still bullish on nft space https://decrypt.co/78660/opensea-ethereum-nft-resurgence-1-2b-monthly-volume in all of 2020, Opensea did $20 million total in trading volume. So we are seeing a massive rise right now. maybe it's peak, but i think more money is still coming in as the barrier to entry is still a little high for the average consumer. as that starts to fall and if/when gas gets under control then another massive surge could happen. -
Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
gyroprotagonist replied to surlybevo's topic in Business and Markets
i am a nft junkie for a few months now, but definately not too late for getting in. it's been absolutely bonkers since i waded in and great ROI. last week was best week i have ever had Gas for eth is unreal the last week. I think it's due to more and more people getting into nfts and that more and more people are creating and doing mints all the damn time now. so you have large groups of people all vying for an nft at the same time and it jacks up gas. then even when mints are not going on, Opensea.io has seen an explosion of use (think ebay of nft world) month over month over month. So you have more drops and then more people just buying/selling off OS than ever before and that is causing constantly higher has prices. - It's not so bad for just xfering coin, but the nfts require writing against a smart contract and that takes more cycles from the miners and hence more gas. was just trying to buy a .05 eth nft from OS and gas was going to be $100. f that. Here is a good estimator for gas https://www.blocknative.com/gas-estimator I am jumping into solana because they are starting to do more nft drops on that coin, but am just getting started so nothing to report just yet. But it's essentially zero gas fees from what i have read. feel free to pop in the nft thread or shoot me a dm. -
nfa, but here is what i am doing to set up for solana phantom wallet - https://phantom.app/ this is one of the markets I have seen used - https://digitaleyes.market/ this is like etherscan from what i can tell to check tx - https://explorer.solana.com/ not sure i want to convert a ton of eth to sol. need to get in on some mints and start flipping to build sol. Solbears dropped yesterday and the price at mint was ~ 5sol per from what it looked like. so $550 (i have not checked sol price this morning) with sol at $110 then. so i don't know how much to convert. maybe $2-3K worth so minting 3-5 is possible?
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i just started started setting up phantom wallet for solana and have followed a few auctions so far. looks like they go extremely fast since there is basically no gas cost. may try to jump in a mint soon and see how it goes.
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a lot of nfts give the owner the rights to do whatever commercially with their nft. not the brand as a whole, but say making a coffee cup with your specific nft on there and selling it is kosher. This is from the Gutter Cat FAQ: Ownership includes creative & commercial rights of your Gutter Cat. Disney would never agree to something like that. - but other nfts may have tighter restrictions or co-ownership. some lawsuit would probably determine who owns what real quick if say Disney optioned a Cool Cat franchise and there was some dispute.
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yeah, i echo @The Royal We point on new money coming in. tip of the iceberg imo. i wish i could find the link, but there are still only 200K or so active accounts on opensea. https://cointelegraph.com/news/opensea-s-daily-volume-is-exceeding-its-2020-total volume is going through the roof and they just landed a $100m in funding. also talks about moving more and more to polygon chain for gasless transactions. this would send MATIC through the roof. As far as Disney or other big franchise stuff, I think the thing that scares them is the ownership aspect of it. imagine if they could not just send a cease and desist to what ever platform is using their IP and have it taken down in a day. That scares the shit out them. Yes, they would make huge money by doing a 10K generative Snow White project. But would they let the users actually own the NFT? I think they will come out with their own marketplace that they will try and control and the fine print will read that users/purchasers do not own their fake NFT and cannot use it however they want. It will be blasted by the real community. I think companies like Microsoft will be next in this. Imagine having Fortnite skins that were NFTs where users could trade and sell. MS could partner with Opensea (or make their own) to create a xbox specific trading portal that worked on xbox interface. people already collectively pay millions for those skins and don't own shit. they can't sell them or trade them. MS would just release new ones, sell them and then sit back and collect 5% for each trade. if they are not getting this in the works then they are dumbest sobs alive. the thing stopping this from blowing up is the cost of entry. buy eth from coinbase (pay a fee), transfer eth to metamask (pay a fee), try to mint a cool nft and fail (gas fee down the drain), try to buy a .01 nft from OS and then pay $50 in gas. There is just too much sticker shock for the average consumer who is used to the retailers absorbing the 1-2.5% fee for the convenience of using a CC to pay for stuff. - Hell, i made my kids metamask accounts and transferred in few nfts from my account that they liked. it was $20-30 a pop in gas to transfer as i did not want to wait around for lower gas.
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yeah, the new metamask has really screwed up what i used to do for mints. it used to be really simple, you had the base price for the nft, then you picked what gas to use. now with the miner's tip + the max value i guess it's better in that you would just lose the tip if the tx failed, but i don't have a secret sauce for the ratio dialed in. lots of people i chat with have reverted back to the old version of mm.
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lions were never on my radar, but good to see lots of projects increasing. go get that 10x+ return! i bought one of the Blazed Cats (on your rec lol) so that better moon, but i know you aped hard into those. that was a good chunk of my stack for sure. the mezcal-ritas flowing earlier gave me some extra confidence! it was interesting though to see the chatter on who was liquid enough to or could get liquid by selling off stuff instantly to buy the 3eth mint. This caught everyone off guard as it was unannounced; so no one planned ahead and made sure they had enough eth. also, i was lucky in that koalas had just gone off and i had some nice sales a few days earlier. this week was epic up 2.5 from koala and 5 from mutants.
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most of the top ones have done that. bayc dropped a dog nft to holders, gutter cats dropped a rat and these have done really well. the price runs up on the base nft right before drop as people scramble to acquire one before the snapshot is taken. then there is usually a drop in price right after. some people like to sell at the peak then try to buy back in. but they miss on the drop. lots of interesting dynamics. gutter rats has announced another nft drop for holders but i think you needed a cat and rat to get it. lol floor is right at 8eth for that mutant bayc. i dont regret selling, but just wish i was more liquid and could have gotten 2. then i could have held one for the ride. bayc is just such a strong brand, but there was some thought that this might dilute the value. anyway, the devs made a cool $92M or so just from public drop + the ongoing royalties from each sale.
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holy shit. my biggest flip ever. BAYC was minting Mutant BAYC. current 10K members got a free one i think and then another 10K was minted via a dutch auction staring at 3ETH. it counted down on price every minute. i aped and got one for 2.9 eth. then sold it like 30 minutes later for 7.9 eth. it had some rare properties but with 20K out there who knows. i am sure 1 week from now it will be worth 20eth or some thing, but fuck that was intense. https://opensea.io/assets/0x60e4d786628fea6478f785a6d7e704777c86a7c6/1088 if you want to look at it and laugh as the price goes up and up still shaking lol
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logan paul bought one i saw. i am still holding 2 of KIA. never seen a pfp go this vertical this fast out of the gate. 3eth floor or bust
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so generally a project team will go through these steps - announce project on twitter. create a discord server and a website - then will start to get people to join the discord and give update on what the project is, sneak peek at the art, roadmap etc.. then set a drop date - drops will happen on their web site. you just connect your wallet and then at time of the drop buy some. there are usually limits per tx or sometimes limits per wallet Sounds easy enough, but when 3000 people want to buy 10-50 each on a 10K project, gas will spike to obscene levels. i can make another post on gas wars, but this is the #1 frustrating thing for people during a mint. basically you can lose out on the nft and lose eth for gas on a failed tx. paying more for gas will get your tx done before lower paying people. the koalas (and some other projects) have started to do presales. They let the first 1000 members of their discord submit their wallet id and then were given a chance to mint up to 7 nfts over the course of 24 hours. so this eliminates the gas spike for the early adopters. Then the remaining 3k or so was a free for all.
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there are absolutely some of that for sure. coordinated pumps and surprise huge buys way above market. the koalas one above had at one point over 3K unique wallets which is outstanding for a new mint. that's pretty much what everyone does (who minted) right after a project with a lot of hype or momentum. I minted 7 of those koalas (.35 total) and then once they started move up, sold 2 very early on for .4 to cover my cost in case this was a pump and dump. Then just rode the wave. have my 2 most rare left and sold 5 for about a 3eth profit so far. i really like the project but I never free ride without covering costs first, so a lot of times eth is left on the table if a project takes off. if your first buy in is after a run up has been going on for a while due to nothing but fomo, it's pure gambling. the koalas (https://opensea.io/collection/koala-intelligence-agency) peaked at 1.1-1.2 last night and floor is back down to .9 so those that bought at 1.2 or higher for a floor are sweating a little, but I actually like these long term to maybe carve out a place under apes and guttercats as an established pfp. sounds stupid, but there was actually another koalas drop a few days ago that had stalled during mint. There was another group of nft holders that went in as a group and starting minting tons of them and caused fomo enough that it sold out and then rose up right after mint. so it was for sure a coordinated pump and dump. they are still sitting at .1 or so which is above mint but tons of people probably bought at .2 or higher and are now holding those bags.
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Hahaha! That effing rock i linked earlier is worth 4eth now. Looks like the floor on those skyrocketed sometime today. I was not going to hold it overnight and profit is profit but damn, over 3eth missed on that one lol. Everything is going nuts now. New pfp project koalas went from .05 to 1eth in 2 days. 17000 sales on a 10000 pc project; insane.
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lulz. i posted about finding momentum earlier. had this happen last night on just random crap that looks about as crappy as an etherrock lol. see a post in the discord channel about how these are starting move a little https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/9690549573852672740817450661288244415170500306446936049782156441528257478657 mint from opensea was .125 eth (~$400) and you can look at the sales per minute and see that yeah, people are snapping these up but still some to buy at the mint price. There are only 125 total in the collection so if the floor gets bought up and more people show up, then it will rise quickly. bought 1 and then waited for the floor to get bought out completely. Then watched the listings/sales for a bit and these were getting insta-bought for .5 with a few going higher. I listed for .79 (~$2500) and 5-10 mins later it sold. smooth $2K profit for 30 mins of screen time. so again, it had nothing to do with roadmap, or artist/dev of the project. just catching momentum.
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hits close to home. don't even remember how it worked, but back many years ago, you could buy an Amex giftcard (think they were called Vanilla cards?) from like CVS using an Amex CC that gave out 5x points for buying stuff at CVS. Then you could transfer that amount into another amex account that acted like a quasi bank acount (Bluebird maybe?). You could then write checks from account to pay for stuff like rent/mortgage and essentially churn out a shitton of travel points. I always felt shady as shit going in to multiple CVSs and buying all the gift cards of this certain type out. they closed that loop hole not too long after, but it was sweet while it lasted.
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Do you trust your wife?
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It's kinda more on how to find momentum. you watch stuff and if you see suddenly a stalled project take off and start to sell out, there is opportunity to get in and then ride other's fomo for a quick flip. maybe get a chance to find a rare. or even momentum on established projects can turn big profits, but the cost of entry is prohibitive for my budget. But yeah, the traditional find a project, join the discord then on drop day jam gas to mint 10-20 units, sort out rarity quickly and then flip to people who missed the drop is more and more rare now. most of my good flips now are catching stuff that is rising and try to snipe the floor no mater if the project is sound or not. but that takes having ears in a ton of discords and being johnny-on-the-spot with work/family not c-blocking your degen opportunity lol. The biggest regret is not getting into the ArtBlocks curated sooner. I did not even get into nfts until mid May and had no idea about AB until maybe July, but even a month or 2 sooner would have been nice just seeing all of those projects soar right now. on the gaming stuff. i have seen some rumbling about the price of SLP (axies utility coin) that keeps dipping making it harder for you or your scholars to earn. i don't know much about axie but like everything else, you need new players coming in to buy the new axies that are bred and bring their new money in the ecosystem. All games need new players to survive and thrive. The crypto raiders will have a built in deflationary tool with perm char death as a possible outcome of raiding a dungeon. chars will die, so even existing players will need to keep playing. I honestly don't know how fun the game will be. It's a 'turn zero' dungeon sim where your only action will be to equip your char in armor/weapons/whatever to kill the underlings and the boss in the there. Then you pull the slot machine lever and see what loot (or death) awaits. very similar to a ZED run race without the death part. I am a rpg nerd, so it appeals to me, but they are killing it with delivering on what they say they are going to do. Their whole coin/utility could go up in smoke in a heartbeat, but it has been stable since launch 2 weeks ago and is steadily providing $100 a day in passive income before the game has even really launched. already made back what i put in of my own money, so it's free roll at this point. They hired an outside guy to set it up and it seems to be working well. the first case for spending the coin for in-game stuff will come in 2-3 weeks and that will be a good test case. similar to axie, you have to pay the utility coin to breed (or 'recruit' in CR) so this should get real movement into the ecosystem. sorry, there is no tldr. it's all just cool starry bra.
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i am in the same boat. have not researched it a lot, but saw where someone was able use a VPN and then log in like they were in a different country to recover the account. I don't think i have much in mine. very low $ amount of a few shitcoins from 2 years ago, but need to gain control of it again i guess.
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yeah, i came into NFT space to play ZED a week or 2 after BAYC launched. I think they were .5 ETH at the time and my noob ass thought that was too much for jpeg. lol I got into the GutterCat which was a copy cat type deal, but that took off and is now pretty popular. was able to buy in for < .1 and sell everything associated for ~3eth. that has funded most of my other escapades into all the other nft flipping. Just started dipping my toe into an NFT based game that has it's own economy, so you can do some defi things to earn passive $ by owning and staking their in-game tokens. The # of people creating and using an OpenSea account is going berserk right now. you can say it's all a ponzi scheme, but there is tons of new money coming in every day to keep it going. I know this is mainly TS focused but if anyone else is into a broader spectrum for other NTF (pfp, art, p2e games etc...) I am down for discussion. There are sooo many projects going on it's impossible to keep track of.
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mine is just in jr high, but it's either shirtless or a hoodie around the house. but in school it was a hoodie every day. maybe the AC is cold af ?
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the only one I sell outside my stable is for a Z3 Szabo Genesis. the price I was getting was OK at first, around .2 eth per, but everyone is undercutting and floor is now .1 eth so I have been breeding in-house for the minimum. someone always manages to steal 1 of the cheap covers though before i can get my 3rd mare to breed. so have ended up with 2 foals and one cheap cover the last 2 times. - that horse is unraced, so there is no positive or negative win % to influence the price. I find that unraced is way better than having a bad win % i think most people probably do the bare minimum wrt to searching for horses to breed with. Finneys and Buterins are basically all at the floor for stud fees so the inventory there is overwhelming and people don't want to scroll through 100s of listings. They will do a little bit of searching, maybe check out the odds of a few horses then pull the trigger. - To get any value for a decent racer, you will have to advertise on twitter and on the ZED forum. just keep spamming your horse on ZED forum in the breeding section and you will probably get a some responses or action on your horse. I tend to sell all my male offspring that don't actually win money racing and then keep the females to spawn a few foals. But females have a massive premium right now, so I have been selling some of those as well.
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yeah, if you made a service that would buy a Z1/Z2 then fractionalize it into 20-50 units. give everyone a voting token on when/if to race it, set the stud fee (or max stud fee to pay for a mare), same for selling the foal etc.. then you would have something. Racing a horse is the least profitable aspect of ZED unless you have a top 1% horse. My horses pretty much suck at racing and have not turned a profit as a group ever. But breeding (selling covers and selling foals) has been extremely profitable so far. outside of racing new foals to see their odds, I probably only race my other horses maybe once a week. The first service to cater to this aspect will make bank, but that's a lot of trust to give to a 'company' which would be far from establishing legitimacy. Honestly, if one of the big stables like Doofy or Poseidon were to create a service like this, i would trust it. But just because someone is first to try and monetize it does not mean they won't disappear with the horses and your money after a month.
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