RE: Were My Chaos Packs a Good Investment?
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"I had sufficient SPS staked in order to be airdropped the required 300 purchases packs so I did not spend any additional money to be able to buy the packs."
This is terrible logic. You could have sold the vouchers for $$$. Let's say you could have timed the market perfectly and bought 300 vouchers for the minimum price of $15. Or $4,500.
So if instead of buying and opening packs, you had sold your vouchers and held your pack-buying money, you'd have more value in your account, you could go buy all the cards you earned and have ~$1,000 left over.
I know this comes off as a bit aggressive, but the above is a big fallacy in investment. Think of it this way, do you think of the airdropped SPS as infinite ROI since you get it "for free"? Do stock returns give infinite ROI because you already have the stock so any returns are free? Holding all that value in SPS has a cost, even if it doesn't feel like it. So it's easy to fool ourselves into thinking we made better decisions than we did. And hopefully you or others will see this and be better able to account for the true costs of an investment.
I think she played it smart, so to say it is a fallacy is untrue. It is entirely true to her. I am curious though - how did you make out? How many packs did you get, and how much SPS do you have staked to be a part of the governing body of the game?
But I'll play anyways. I made out very well. I valued vouchers at their face value, so I sold all the ones I got (only about 60, but I was new in the game at that time). And I sold over the course of the month, so probably got ~$17 in value for each voucher. I used that value to buy a bunch of cards and flesh out my Silver deck. I believe in splinterlands, so I kept my money in the system, but I felt vouchers were overvalued unless you bought 1000 packs and got the guaranteed GF Dr. Blight and the title. So I will admit I do feel some vindication in my strategy seeing this post and that I was right to sell my vouchers (even if see Dr. Blight at $140 makes me wish I had gotten one - I can still buy one with the profits I made selling vouchers and be ahead).
For me, it's about more than an investment and profit. I'm a fan of the game, and I totally support Splinterlands for making the kinds of decisions they have made to keep their tokens viable and grow their player base.
But you have your way and I hope it works out for you. I'm happy staking my SPS and earning my vouchers rather than buying them.
I'll reply here to both you and @enginewitty, since my comment wasn't clear and left both y'all with the wrong impression.
One of my biggest complaints about the crypto space is that any time someone says "sell" they're accused on lacking faith or FUD. When in reality selling can just be shorthand for making better investments in the same system. So I wasn't advocating cashing out of SL, but that you could have invested your same resources in a slightly different way and come out ahead.
So instead of using your vouchers and buying presale packs, you could have sold those vouchers and waited to re-invest that money in cards. Then you could have bought exactly the cards you opened and still had $1,000 of value from selling vouchers. You could then use that extra value to e.g. go buy 100 more packs, buy 3000 SPS for more vouchers in the second phase, etc.
Because you thought of your vouchers as free, and not as a commodity with value, you made a decision that led to less value. And yes, opening packs is fun, and if you value that at $1000 then good on you. But to come here and say you had a positive ROI is misleading. People like @arrliinn saw this and think you made money, when you did not.
PS: On a personal note, I'm sorry about the HUGE downvote you received. I was initially smug when I saw that, thinking someone else was calling out your misinformation. But it looks like it's some petty vindictive bullshit, which I don't like. Downvotes should be for weeding out low effort content or misinformation, not to carry out grudges. It's a small gesture, but I've removed my 0.002 hive downvote in solidarity.
Thanks @badrag for explaining your position better. Another way to look at this (and that's the beauty of everyone having their own opinion) is that I wanted to buy in presale and get the 10% discount for SPS and also be eligible for the airdrop of the Dr. Blight card. You had to have the vouchers in presale. And I was awarded 6 of the Dr Blight cards for my airdrop rewards, which have a current value of $840. So it's really not that different of an outcome. 😀😀
And thank you for the solidarity!
Oh cool! I didn't see you hadn't counted the Dr. Blights! That is such a huge part of the benefit of the pre-sale, so I'm glad to see that after you factor that in, it's pretty close to even! In doing my own numbers, it seemed that the only way to make money on the pre-sale was to get 1,000 packs. The guaranteed GF Dr. Blight + the title pushed it over the edge.
And I should also say, I'm not all about the ROI myself. There are probably better investments in crypto than SL if all I care about is $$$. I've posted a few times about how renting up in league at the end of season is objectively a pretty bad decision with a negative ROI. But I do it anyways, because it's fun and I enjoy opening extra chests for the chance of cool rewards.
So yeah, at the end of the day, if you're happy with your decision, it was a good decision, ROI be damned.