Splinterlands Assets as Stablecoins

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(Edited)

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You guys know that I like diversification, and preaching about it for ages... Personally, I have a couple of favorite cryptocurrencies in my hodling portfolio, but I'm open to adding some new in the present and the future... Things are changing very fast in the crypto world, and there are many great projects out there that deserve our attention because of the value that they can bring to space...

But, on the other side, I have to admit that I have noticed that I'm "exposed" too much to crypto... What do I mean? Well, after 4 intensive years of accumulation by buying crypto directly, mining ETH and other coins, earning them through content creation or staking, I have realized that I have more than I expected assets in crypto...

I was preaching about the bank-free goal and that I want to leave that behind me and I didn't realize that I'm very close to that... :) Which is, in fact, good news, but still, maybe too risky... So, I have also mentioned 2-3 months before that I will probably exchange some crypto to fiat (as I have to feed the family) and I did that, but not in the volume I have imagined... We got caught by this BTC retracement, and maybe a beginning of the bear market before then I imagined...

Long story short... I would like to execute my plan of moving some crypto in other "assets", despite the circumstances, but still trying to be "inside my preach" and stay away from fiat money as much as possible... That's where Splinterlands came into the picture...

Check out the video for more details...

Thank you for your valuable time,

~ph~


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30 comments
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Well out of print cards tend to go up in value. I have seen some of those Rising star cards also cost a ton now. I am not too much of a collector in Rising Star and I haven't really been focusing on leveling up my cards in Splinterlands as much. Though I should probably roll some of the share a weekly battle earnings I get into buying some cards in Splinterlands.

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I have seen some of those Rising star cards also cost a ton now.

I have noticed that, too... I mean, the game isn't ultra-popular, but if you have some scarce card on one side, and some crazy pumped up collector on the other side, you can easily sell some cards for nice money... ;)

!ENGAGE 10
!PIZZA


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That was the idea you where talking about in our chat in discord :) I will personally just try to sit out the bear market, since I am still in an accumulating phase. Investing in cards and other splinterland assets like plots tracts or regions is for sure a good move. The game will go parabolic when it hits BSC with a governance token. I personally might take some profits and move into stablecoins on #cubdefi it is still DEFI and risky but at least you can be sure your assets won't get rugpulled by the team. Also staking DEC on either cub or VFTlabs brings you some extra passive income.
Interesting to hear that you are moving out of the banking system. How about taxation when you exchange crypto for FIAT? Here in Austria it would be a wrecking 28% tax to pay on the profits.


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I will personally just try to sit out the bear market, since I am still in an accumulating phase.

I was doing the same in the last 4 years, but I'm at the point where I want to give and take something out of crypto... Still learning, how and when, but it's a process... :)

And regarding taxes, I'm not pulling out some crazy amounts at the moment... Mostly spending on ordinary things (groceries, clothes, etc.) and paying with Wirex card... When you are doing things under the "limit" nobody will ask you questions... If I plan to do bigger amounts, will talk with some experts in the taxation field... :)

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!PIZZA


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I see well groceries and ordinary things I pay with the FIAT I get for my time, but since I own a business all assets have to be declared thats why I buy and HOLD because thats not a taxable event...

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but since I own a business all assets have to be declared

I understand that... I have owned a business and these vultures are always on your back...

I'm so happier when I'm free and not feeding the beast by paying them taxes for their vacations, yachts, lies... :) :)


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Cards are going to be valuable with time.
More the player base will grow, more it will increase in value.

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You are right about that! And the player base is growing nicely in the past couple of months... They did an awesome job by adding other cryptos and fiat payments, too...

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!LUV


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I moved a lot of my Alien Worlds WAX profits into Splinterlands assets, or stuff for R-Planet. I expect it will pay off in the long run. Not sure how much other stuff I should also move over there, tempting to buy a lot of cards just to play with - but, it also feels like things are getting expensive from when I started last year!

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but, it also feels like things are getting expensive from when I started last year!

Imagine how it looks for people that started playing from the very beginning of the game... Old cards are more expensive every next month, and the new ones are usually cheap... If I look at some Untamed cards a few months ago, they were extra cheap, and now they are all up...

!ENGAGE 10
!BEER


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One thing that you have to take into account if you want to make such a move is that Splinterlands assets are less liquid than stablecoins. On the other hand, they do appreciate in time.

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You are right about the liquidity of assets... I will not expose myself that much that I have those issues... It's more like one of the options at the moment... Also, getting a good price for assets at the moment gives more opportunities to push some juicy sell orders in the future, if I need funds...

!ENGAGE 10
!PIZZA


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