Splinterlands Lesson Learned - I missed up renting then bit the bullet and continued
This game is very addicting and fun to play. There are so many different aspects of the game that will keep you engrossed in it for hours at a time. There are different leagues (levels) that you need to achieve to get higher rewards. To achieve these levels you need two things: 1)Rating and 2)Collection Power.
Rating is achieved by winning matches. Collection Power is the value of the cards you own in the game. To get out of Bronze into Silver, you need to have 1,000 Rating and 15,000+ Power. Once you achieve this and stay there, you will receive 12 Loot Chests at Season End.
Continuing To Rent
I have been renting for a few seasons now. I would go and rent individual cards so that I would have the needed 15,000 power. This season I wanted to do better. I wanted to finish in Silver II which required over 40,000 power. That is a whole lot of card rentals so I decided to use the new PeakMonsters Collection Power Bid Rental.
Created a CP Rental Bid
Well, I set up my collection power rental bid but I forgot to take into consideration my current collection power. At the time, I had around 5,000 owned collection power. I set the bid up for 40,000 collection power. The next morning when I got up and checked I had right at 46,000 of collection power. I was at Silver II once I won the rating.
Adjusted Bid
Since I was renting 6,000 more than I needed, I wanted to adjust my bid so that it would not renew all of the cards automatically. I adjusted my bid down to what you see in the screen shot above. Needless to say, I did something wrong. The next morning I woke up and I had around 60,000 of cards rented. I was shocked to say the least.
Silver I
By this time, there was only four days left in the season and I already had over 1,600 rating so all I needed was to get more collection power to qualify the Silver I 18 Loot Chests at Season End. Silver I would also reward 4 Loot Chests for each Daily Quest instead of the 3 chests for Silver II. Due to this, I bit the bullet and continued renting all of those cards and then some. The bad news is that it was costing me around 300 DEC per day in rental fees. To everyone out there that I rented cards from, "You Are Welcome" but I will not be doing it at that level again.
Challenge
Do not make the mistake of trying to rent a high number of cards during the last week of the season. You will pay in high rental rates. It took me a while to find cards with a decent collection power per DEC rental rate. I had to rent these cards individually and it took a lot of time. I was renting so many, I ran out of resource credits so had to get hive power added to my account so that I could rent those last few cards to reach that point.
My Advice
My advice is to start small and learn the system before jumping in with both feet. The good news is I have the PeakMonster CP rental Bid where I want it. For this season, I will be targeting Silver II which will be only around 100 DEC or less per day in rental fees which is easily covered with the DEC awarded in Ranked play and the additional chests awarded for daily quests and season end rewards. At the end of last season, I was being awarded 20 to 25 DEC per win so luckily I made up several days of rental fees on that last day.
If you have not started playing this exciting Play2Earn game, you should start. Here is my link to sign up:
https://splinterlands.com?ref=darmstrong
I see that as we progress through the game things become a bit more complex :-)
Only if you want them to be. I prefer to be at the higher level so try different ways to be there with balancing the cost with rewards. I also try to place a degree of investment into the mix which also complicates it as well.
That is awesome, and is also working great for you. I will take a more aggressive action in the game this month 😃
I especially appreciate your rental strategy and starting slow is great advice.
I have made more mistakes in renting than I would like to admit. but the risk equals the rewards so to speak...
That makes sense. When I first started reselling I made tons of mistakes, and they all had a monetary cost associated with them. Still today I make mistakes, but far fewer than in the early days.
You are correct I would have to say that the lessons learned from the mistakes were profitable enough to keep my business a float and supporting this household 😃
Ah I am sorry that things did not work out but having this experience is better than not having it. After all you should know which rankings are better for you. Do you rent purely for collection power or do you rent for cards that increase your win rate?
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The Peakmonsters Collection power rental bid system only takes into consideration collection power. There are other ways to bid for specific cards on their website.
Yes, I realised my resource credits were depleting very fast when I was trying to maximise my rental rates (as an owner looking to rent out cards) due to the changes in the market. Was down to 3% at one point. Never had an issue previously but it's probably because my card deck is larger than what I had two seasons ago. Will have to find a way to manage it more efficiently for this season.
Good luck with your rentals. I hope they get you lots of return