5 million DEC per TRACT? 50 million DEC per REGION? C'mon!
It's getting more and more disheartening to be a landlord in Praetoria.
I listened to the latest town hall, where Matt also disclosed a bit more... numbers about land.
The number that drew my attention the most was the amount of DEC necessary to block per card staked, to make it work the land.
The number is for a maxed-level card, and the number would be lower for a lower-level one. Note that the amount of DEC needed is not influenced by the rarity, foil, or edition of the card.
And that number is 10000 DEC per slot. This means that if you have 1 plot, you need to block (a sort of staking) 50000 DEC on it to benefit from staking max-level cards on your plot. That's not selling the DEC, but still, you need to have that DEC and you can't use it anywhere else while it is blocked on land (which is likely forever unless you decide to sell your land or maybe rent it out - we don't have these details).
For a tract, the numbers become quite prohibitive. That's 5 million DEC needed for a tract. And for a region, 50 million DEC is needed! Good luck with that.
Let's have a look at the top holders of DEC-B and DEC:
These amounts don't account for DEC held in liquidity pools, but they are relevant nonetheless.
For DEC-B, the top holder has 25 million DEC-B, and outside the top 12, the numbers are well below 10 mil. For DEC, the first holders are Splinterlands-related accounts plus null, so the first real top holder should be in the 10th place, with 19.5 mil DEC. None of the accounts which show up in top places for DEC-B also show up in top places for DEC, so you can't add them.
So, currently, no investor has enough DEC and DEC-B (according to PeakM's ranking) to match the necessary DEC for a region. And there are players with more than one region.
Personally, I have a tract, as I've said a number of times. I've never seen how 5 mil DEC looks like, all at once. Yes, I know, they are currently 3.75k USD. But that's a cost added to other costs, to maintenance and everything else.
Currently, a plot is sold for something like 150 USD, and a tract for something like 11-12k. That's a 30% additional investment in DEC needed for a tract, just for this part.
Didn't count in the investment in maxed-level cards. Let's say they are purchased at a 5 USD average price (very optimistic!). That's 2500 USD. Or another 20%. Didn't count in the investment in survey boosters. Let's say you only take the build-in-a-box option. That's another million DEC. Or another 6.25%. Double that if you want two options.
And here's the really bad part. Yeah, I haven't gotten there yet. From what I understood from what Matt said, to make a max-level card work on land you need to block 10k DEC. If you don't have 10k DEC to block, tough luck, you have the max card for nothing, you can't use it on land. And then you would have invested in useless maxed reward cards for nothing.
Sorry, I needed to vent a little bit. But so far land is presented as a black hole and I don't see anything solid to suggest the investments will pay off down the road big time.
Posted Using LeoFinance Beta
Black hole to lock in more value for whales. Exactly my concerns.
The more you put in, much more is expected from you, exponentially.
Would it be better to just invest the same money in BTC or HIVE? No work. No heartaches. Just stacking, plain and simple.
By the way, would DEC-B work or does it have to be DEC?
DEC-B will work for survey boosters and upgrading land buildings, for sure. They won't work, most likely, for staking cards on land.
That’s a crazy black hole.
https://leofinance.io/threads/@gadrian/re-leothreads-2dxb4ndek
The rewards earned on this comment will go directly to the people ( @gadrian ) sharing the post on LeoThreads,LikeTu,dBuzz.
Hmm. Sounds like you might have to sell some of the land plots at what, a 10x? 20x profit? More? in order to fund some of your....other land plots. Meanwhile you can keep the "good" plots to work and sell off the lesser plots to people who just want one plot. 1st world problems. That's like winning the lottery and whining about paying the taxes, only in this case, the "taxes" you pay are not even lost, only locked up.
When you buy land in the real world do you then have to actually pay real money to build something on it? Or do you get the land, watch it skyrocket in value, and then complain about how much lumber costs?
Bad optics in my mind.
Posted Using LeoFinance Beta
I don't mind that extra costs exist. I mind the amount(s). Because these amounts are getting bigger and an account my size should be able to cover them and it is not, not even after selling stuff.
EDIT:
If you do that after surveying, and after the details of the land are known, "bad" land will be less valuable. Plus, I would have already paid for survey boosters for all of them.
I guess I just don't get it. If you can't afford the upkeep, then you just need to sell enough until you can. Again, all from profits. I'll use the house analogy again. Basically you bought a $1M house out of foreclosure for $100k. Now that the value is back at $1M, you don't like paying the upkeep. So, either sell the house and downgrade, or bite the bullet and pay what it costs. I just don't understand complaining about the costs when every single penny you need to pay from here on out can be covered by profit.
I paid around $100 each for my plots. I will now need to pay to survey them, stake DEC to work them, and fill them with maxed out monsters if possible. All without ever knowing if it will be worth it or not. You get to do it all with zero downside. It just rubs me the wrong way that you're complaining about it. I'm sure there are many people out there who would love to have your problem.
We all had our good times in Splinterlands and also some bad deals. There is a reason why someone would want a full tract or a full region. Anything above the tract I sold or will sell.
The key things that Land Promises in terms of value are:
To me... the future potential depends on how needed those Potions/Spells are in the main game. Right now it's speculation - but I'd bet that it ends up being worthwhile... the value of the Potions and Spells will be somewhat anchored price wise to the costs Land owners incur in order to generate them.
Yeah, but Items and Spells are a few years away (at least 2). For example, we have now (I mean in Q2) land 1.5. It is unclear to me what will I be able to do. They mentioned the competitive battle for land SPS rewards and the Secret of Praetoria. Will they require all my 100 plots? When will the bonuses from the survey boosters kick in? On land 1.5 or on land 2.0?
If we are talking 5 mil DEC (and more for building upgrades) by the end of the year or when land 2.0 comes out, that's a different thing than needing it for land 1.5. All these are details that influence our decisions and we make decisions blindly.
@tipu curate
Upvoted 👌 (Mana: 0/45) Liquid rewards.
Thank you.
I guess I need to go listen to the town hall to see if I see any silver lining.
!LOL
Posted Using LeoFinance Beta
lolztoken.com
She had a mean spirit
Credit: reddit
@gadrian, I sent you an $LOLZ on behalf of @ijat
(1/2)
Are You Ready for some $FUN? Learn about LOLZ's new FUN tribe!
That's always a good idea. :)
Thank you for sharing this.
You are welcome.
I've only ten plots left now. Sold the rest to earn more hive and bought cards to rent.
I'm hoping to buy back more when land 1.5 launches and we possibly see a sell off form players that can't afford to farm them.
Then i can pick up more for less.
Always a gamble but they weren't earning much just sitting there.
At that point, surveying will be done. And prices will be differentiated based on rarity, category, and position.
If you wanted to sell, it was good that you sold already. Most plots will be common.
while it really is much DEC, the fact that you only have to stake it and not burn/sell it really makes this a lot more acceptable.
Yes and no. Because as long as you keep your land (not sure how the renting mechanics will work), you'll need to keep it functional with the best productivity you can afford. And that means keeping that DEC staked and not being able to use it for anything else. Yes, if you sell the land (maybe renting it out too), you can free up that DEC, and that's better than having it burned or sold, absolutely.
You are right 100%, Splinterlands strategy simply went bad, and instead of stopping they take other bad decisions one after another. This way not only that the player base will not increase, but will start decreasing and dooming the entire ecosystem.
Posted Using LeoFinance Beta
I understand their decision, but I don't agree with it. Overtax land owners because early adopters of land still have a high profit on their investment, and thus attempt to level up the gains and spread it across the ecosystem. I don't want to say the word... Non-land owners should be the happiest... this time.
Hi @gadrian.
Thanks for your information.
It's OK to vent. I am sure the information is very helpful for others here. I wonder why Matt said that. It does not sound right at all, Gadrian. It's good you said something.
Barb :)
Posted Using LeoFinance Beta
Yeah... I don't like to vent. But sometimes things get to you.
Congratulations @gadrian! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
Support the HiveBuzz project. Vote for our proposal!
I was always a little skeptical about land because a lot of projects were doing so at the same time. I opted more for the actual game rather than land and I guess I am glad that I didn't buy a land. I don't think I would have the funds needed to push them into generating resources.
Posted Using LeoFinance Beta
I don't know. Maybe with a few plots at most, anyone can manage. And, if you don't thrive to max things out, it isn't as expensive, so there's that. But the thing that can be the most problematic is when you start on a path based on incomplete information, then new information comes out that makes the priorities for your path questionable.