Like a kick right to the teeth (2021.12.10)
A few weeks ago my total Splinterlands card collection was worth more than $900 USD. Currently it is only $639.21 USD. More than $200 USD lose in a few weeks. This amount is approximately my monthly pension-like income, which is approximately $250 USD per month. And I have not sold any Splinterlands cards in the recent past. What more, I collected some.
Losing this huge amount is like a kick right to the teeth for me. Currently I am seriously thinking about/considering selling my entire Splinterlands card collection to avoid further losses. And the game would still allow me to play with the base set of cards.
I really need to have a strong hand to not to put my entire Splinterlands card collection for sale on the market.
What would you do in my case?
I wouldn't touch it. I would either reinvest into the game while the assets are low or take out dividends.
I check the prices from time to time. Maybe I will use a part of the DEC I earn by winning battles to buy cards.
I don't care about prices when it comes to any crypto. I just want dividends xD
Do you have any tips on that? How to get dividends? Other than leasing out unused Splinterlands cards to other players, and delegating SPT to earn SPT daily?
Is it worth to delegate SPT to earn SPT?
You can delegate SPT to Brofi to earn BRO, not a lot though.
Ain't you staking SPS aswell? They give you dividends
I do not know. Probably yes, if you do not use your staked SPT to curate Splinterlands related posts. Currently I am not delegating SPT.
I did not know this. I will try it out. Thank you.
Yes. 1-3 SPS per day.
I am just selling my SPT and buying other tokens xD
You get more SPS than I do :D
Thats a good point @cwow2, thats how ive been feeling lately too. Stakin n stakin n chillin for a while is the way to go.
It does suck to see the value go down though @xplosive
!LUV dat !PIZZA
@captainquack22(1/1) gave you
I'd say: Don't FOMO, either way.
I try to remain calm as much as possible. Hopefully @buzzgoblin is right, and the price will go back up.
It all depends on the markets at large...
Bitcoin will take a hard dip some time between now and next year summer. (my prognosis - no trading advice) and will take all altcoins down with it.
It will eventually recover, though, I am sure.
I am trying to trade the crash, but that is gambling and I would absolutely not recommend it.
Do not worry. I do not have money to risk for trading. I am happy that nowadays I can financially get by. I currently have the "luxury" of not having to choose between paying rent/bills and buying food.
You only lose it if you realize the loss, this is an investment. If the game keeps developing it gonna rise back up. If you play only with the base cards you need to rent to play in silver, which diminishes your gains. Furthermore, there is no gain in playing in bronze. Rent them out if you don't want to play with them.
Of course I play. This game is one of my favorites. It is very much fun, enjoyable and entertaining. I am just (maybe unnecessarily) (over)worried about the prices of the cards.
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This is the amazing part of the game you can easily accumulate more earnings from the game but loose at a massive rate.
Maybe I should have sold a few Splinterlands cards, when the value of my total Splinterlands card collection was above $900 USD.
Yeah actually you should have. I am getting tired to play it because I don't want to spend much on it I really don't know how to play it
I wouldn't worry about it because prices go up and down. Before SPS came out, my account was probably only worth $1k or $2k but after it came out, the total value jumped to over $10k.
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Wow. It is possible to buy a house with around $4000 USD in my country (in Hungary). You could buy a very good house with $10 000 USD in Hungary.
Yea I was surprised by the explosion in value and it was more when Splinterlands was under the radar.
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As the new cards are released, it makes sense that rentals and resales of the old cards would "take a break".
I guess I have no idea what you should do based on your own financial goals and time frame.
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I am trying to think about the whole Hive blockchain in long term. Years, decades. My goal is to get out of the financial discrimination. I live with multiple disabilities under the local minimum wage in Hungary.
Try not to feel normal ups and downs as kicks in the teeth, and try to move the opposite way of the crowd.
There was a shortage in the supply of cards.. (no new cards to be bought) for quite some time which drove up the price of cards and rentals. During this same time, many new users came to Splinterlands and wanted cards. No Supply, high demand.. Price goes up.
Now there has been a sudden influx of supply to the market.. New cards, new attention, new focus.. So, it makes sense that the old cards would see less demand right now...
Over time as a newly released cards sell out and the brand new attention fades, the old cards are now Rarer and gain demand again.
For those who have time to wait, it might be a great time to focus on buying the old cards while everyone else is looking at the new ones. (not financial advice, just thinking outloud)
The great unknown, how long will the new supply of cards last and how will they compete with the old cards. Anyone who knew the specific answer to that could get quite wealthy ..
:) Good luck in your choices.
First, a caveat that I am not very good financially. However, I feel like I am gradually learning. And one thing I am learning is that the market is cyclical. When it cycles up, it is very exciting because we make money seemingly from nothing. At what point do we say, "This is the top of the market. I will sell."
However, then the market swings down and all our investments seem to tank and we ask ourselves, "Should we cut our losses?" That, my friend, is panic selling. In many cases it is a move you might regret.
Here is the question you must ask yourself: Do you believe this is a cyclical/market effect or do you believe that Splinterlands is on the way out?
Most of my crypto investments are currently substantially down, so I think it is cyclical, but I don't know enough about Splinterlands (and I am invested in it also and dismayed to see my investment fall).
I don't know whether Splinterlands or crypto in general will ever recover, but I strongly suspect both will.
That is a long-winded way of saying I think you would be buying high and selling low if you sell now. But... you know, not financial advice, DYOR, etc etc.
!PIZZA
!LOLZ
!LUV
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But I can see mine on my counter.
@xplosive, I sent you an $LOLZ on behalf of @harlowjourney
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (1/1)
It is probably cyclical. I read a possible explanation from people that the price of the older cards temporarily went down because of the arrival of the new cards. It will go back up over time.
Thank you for the tokens. I also give you some !PIZZA and some !LUV.
Thank you. That explanation makes sense. Also, the market in general is down at the moment. DEC has not been this low since I started playing, which, admittedly, was quite recent.
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Don't worry , keep playing and if you like delegate SPT to monster-curator(r1s2g3)
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I used to delegate around 1500 SPT. Currently I delegate 2700 SPT to @brofi. Of course I keep playing Splinterlands. This is one of my favorite games.