I told y'all last year this would happen. I'm curious about how many have lost money on this. Some people here were talking about buying when it was around $10,000.
Bitcoin falls below $5000
- Thread starter Eternal Return
- Start date
I have lost some money on bitcoin. Dumb investment. Hopefully some day it will come back. Not counting on it.
Why do people buy stocks? You serious? A lot of people that bought and sold at the right time made a shitload of money.
I buy stock after researching the company to. See if I think they will make money. And you?
It was a fad like comic books in the 90s and baseball cards in late 80s.
401k. My point is that there is risk/reward in any kind of investment. Bitcoin was/is no different
As I said at least a year ago, “if only Mother Nature had her own version of Bitcoin”
Plenty of suckers got swindled due to their FOMO ... plenty of great stock pickers on this same forum are finding out that just because you use services daily doesn’t mean these are excellent investments. Lots of 30 something’s probably don’t recall the 2000 tech bubble.
Plenty of suckers got swindled due to their FOMO ... plenty of great stock pickers on this same forum are finding out that just because you use services daily doesn’t mean these are excellent investments. Lots of 30 something’s probably don’t recall the 2000 tech bubble.
About 5-6 years ago I asked a similar question to a guy who was touting bitcoin after it fell to under $100 from $250.
This is HROT. We always pull out in time.
Comic Speculator Boom
From roughly 1985 through 1993, comic book speculation reached its highest peaks. This boom period began with the publication of titles like Batman: The Dark Knight Returns and Watchmen and "summer crossover epics" like Crisis on Infinite Earths and Secret Wars.[4] After Watchmen and Dark Knight Returns made their mark, mainstream attention returned to the comic book industry in 1989 with the success of the movie Batman and again in 1992 with "The Death of Superman" storyline.
Once aware of this niche market, the mainstream press focused on its potential for making money. Features appeared in newspapers, magazines and television shows detailing how rare, high-demand comics such as Action Comics #1 and Incredible Hulk #181 (the first appearances of Superman and Wolverine, respectively) had sold for thousands of dollars, with Action # 1 breaking the $1 million mark.[6]
During this time, mainstream comic book publishers began to pander specifically to the collectors' market. Techniques used included variant covers, polybags, and gimmick covers. When a comic was polybagged, the collector had to choose between either reading the comic book or keeping it in pristine condition for potential financial gain, or buying two or more copies to do both. Gimmicks included glow-in-the-dark, hologram-enhanced, die-cut, embossing, foil stamped or foil-embossed covers.[6] Gimmicks were almost entirely cosmetic in nature, and almost never extended to improved content of the comics. However, many speculators would buy multiple copies of these issues, anticipating that demand would allow them to sell them for a substantial profit in the future.
This period also saw a corresponding expansion in price guide publications, most notably Wizard Magazine, which helped fuel the speculator boom with monthly columns such as the "Wizard Top 10" (highlighting the "hottest" back-issues of the month), "Market Watch" (which not only reported back-issue market trends, but also predicted future price trends), and "Comic Watch" (highlighting key "undervalued" back-issues).
The speculators who made a profit or at least broke even on their comic book "investments" did so only by selling to other speculators.[citation needed] In truth, very few of the comics produced in the early 1990s have retained their value in the current market; with hundreds of thousands (or, in several prominent cases, over ten million) copies produced of certain issues, the value of these comics has all but disappeared. "Hot" comics like X-Men #1 and Youngblood #1 can today be found selling for under a dollar apiece.[citation needed]
Veteran comic book fans pointed out an important fact about the high value of classic comic books that was largely overlooked by the speculators: original comic books of the Golden Age of Comic Books were genuinely rare. Most of the original comic books had not survived to the present era, having been thrown out in the trash or discarded as worthless children's waste (just like baseball cards typically were at that time) by parents (stories of uncaring parents throwing out their kids' comic book collections are well known to the Baby Boomgeneration), or recycled along with other periodicals in the paper drives of World War II. As a result, a comic book of interest to fans or collectors published during the 1940s through the 1960s, such as an original issue of Superman, Captain America, Challengers of the Unknown, or Vault of Horror, was often extremely difficult to find and thus highly prized by collectors, in a manner similar to coin collectors seeking copies of the 1955 doubled die cent. In many ways, with an enormous supply of high-grade copies, the "hot" comics of the speculator boom were the complete opposite.[citation needed]
Bust of the speculator market
The comic book speculator market reached a saturation point in the early 1990s and finally collapsed between 1993 through 1997. Two-thirds of all comic book specialty stores closed in this time period,[6] and numerous publishers were driven out of business. Even industry giant Marvel Comics was forced to declare bankruptcy in 1997, although they were able to continue publishing. It is surmised that one of the main factors in Marvel's downfall was the decision to switch to self-distribution (via their purchase of Heroes World Distribution). Up until then, many publishers went through secondary distributors (such as the current and only mass distributor, Diamond Comic Distributors) and Marvel felt it could preserve some of its cash flow if it made the move to becoming one of the few publishers to also distribute directly to the comic market. This backfired terribly when the bottom fell out of the market, as they were stocked with multiple printings of variant and "collectible" issues that were no longer in high demand and they could not cover the costs of their distribution service.
The bust can also be linked back to some of the series that caused the boom, a few years earlier. DC's decision to publish two blockbuster stories depicting the loss of their two major superheroes ("Knightfall" — the breaking of the Batman — and "The Death of Superman"), and their subsequent flooding of the press as to their supposed finality, is considered by some collectors to have started a slow decay within the non-regular buyer comic community which then led to drops in sales. Many comic retailers believe that numerous comic speculators took the death and crippling of two major characters to signify the end of the Batman and Superman series. As many comic readers and retailers knew full well, very little in comics actually changes with any finality. Many aspects of the status quo returned after the story arcs were over (Superman died, but was resurrected, and Batman was crippled, but eventually recovered).
Many comic speculators who were only in the market to see important comics mature, then sell them for a tidy profit, didn't quite understand how quick the turn around would be on the story recant, and many rushed out to scoop up as many copies of whatever issues were to be deemed significant. Comic shops received not only staggering sales during the week that Superman died,[6] but also had to try and meet the demand. This led to the saturation of the market and the devaluing of what was thought to be the end of an American icon. Some comic book retailers and theorists deem DC's practices in the press forum and their relationship with the non-specialized consumer to be grossly negligent of the status of the market, and that their marketing campaign, whereas most likely not malicious in intent, spelled doom for the speculator market and comic sales in general. Others place the blame for the comic market crash on Marvel (whose product line had bloated to hundreds of separate titles by late 1993, including the poorly received "Marvel UK" and "2099" lines) or creator-owned upstart Image Comics (who fed the speculator feeding frenzy more than any other comics publisher).[9]
https://en.m.wikipedia.org/wiki/Comic_book_collecting#The_speculator_boom
Fair question. I only put 2k in, so not a huge investment. It is only worth about 500 now. It as 2k that certainly wasn’t going to make or break me. I was chasing the hype.
With that said. I still believe some day I will recoup my investment and then some. Technology is the way of the future and so is some form of crypto/blockchain. A reason why I also own Microsoft and ibm. Just bought in at the wrong time. Wish I had that 2k right now. I would make the investment again.
On a positive note, more of you can afford my video.
I had this same thought when my BIL approched me about buying in. He walked away up over 80k this summer.
This is an odd take, but if anything it shows that you're pretty normal and don't understand what the underlying assets are when you see "prices moving up and down". That's not a slam on you really - Americans by and large are really ignorant about finances.
Buying brand new ones as an investment instrument. Don't u remember all the special limited edition scams. From comic books printed like a day before.
I agree with this - privacy concerns alone will cause two main problems for them: 1) the active users will gradually fall as people understand further what the company is doing with their data and decide "I don't like this", 2) I think it is possible, if not PROBABLE, that regulations will eliminate certain usage of data as well. So they'll take a hit on the profitability of current users, and I think they will see fewer active users at the same time.
I tend to agree. Facebook is free to use, their value lies partly in advertising and partly in the information and data they collect and subsequently sell. Now that the Europeans have said that Facebook doesn't own the data, the individual owns their data, Facebook's business model is getting messed up. Who cares how large of a market Europe is and how many potential "customers" are there if you cannot monetize the information you've collected? If the same sentiment spreads to the USA, when ownership of your data shifts back to the individual, Facebook will be doubly screwed.
Not saying Facebook will go out of business, they might depends on how heavily they are leveraged versus their cash flows, just saying the value of the company will be severely diminished.
Well maybe I could if I could understand the underlying value of BTC. I have read a bunch and still do not see why it is worth even 4555 today, other than a group of collectors decide to buy and/ or sell it. BTC provides no intrinsic value? If it does I would love to hear how.
Well yeah, I wasn’t thinking of comics as an investment. And I would consider it very stupid to purchase a modern day comic and expect it’s value to increase.
whoa whoa whoa... are we talking home video?!
No, it's a work video.
That's what the whole bitcoin thing reminds me of an overinflated novelty. Sure there is money to be made but that's mostly from exploiting the rubs.
