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My road to success (Moving Update 2)

10 10
uchiha101

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This thread will be about my journey to the million dollar comic and the struggles, failures and successes that come with it since many boardies requested it I will not longer post my transactions but try what revat said :). I also have a bunch of inspirational people two of them being Walt Disney and Steve Jobs because I want to be the next rags to riches story not to the degree of Steve Jobs or Walt Disney but I want to make a million dollars buying and selling a comic and making enough money with this venture to never again say I can't afford something :)

 

Thoughts and plans

Sell my comics

Sell IH 180 CGC 5.0

 

Milestones I want to reach

Get my first four figure sale

 

To see old comments for this Journal entry, click here. New comments can be added below.

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13 minutes ago, uchiha101 said:

Well, it would take me a few days to get everything together. If you're talking about having all my crypto on one exchange that's not a good idea but if you're talking about having it in my wallet it's not something I do often because if an opportunity for gains happens I want to already have it on the exchange to go instead of waiting

stay away from crypto... that ships has already sailed away.....hit a reef and sunk with all hands on deck,,,,,,

Edited by 1950's war comics

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49 minutes ago, 1950's war comics said:

stay away from crypto... that ships has already sailed away.....hit a reef and sunk with all hands on deck,,,,,,

Thanks for the advice but it's actually just getting started. In any case I don't invest more than I can afford to lose as with anything

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52 minutes ago, 1950's war comics said:

stay away from crypto... that ships has already sailed away.....hit a reef and sunk with all hands on deck,,,,,,

This has a high probability of being true, though I do maintain a small lottery ticket in Ethereum and BitCon through Grayscale's publicly traded trusts (again, wouldn't trust those exchanges with my dog's name, much less all my PII).

@uchiha101 - I assume you're using multiple exchanges to mitigate the risk of hacking?  That in itself should tell you something.

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43 minutes ago, mattn792 said:

This has a high probability of being true, though I do maintain a small lottery ticket in Ethereum and BitCon through Grayscale's publicly traded trusts (again, wouldn't trust those exchanges with my dog's name, much less all my PII).

@uchiha101 - I assume you're using multiple exchanges to mitigate the risk of hacking?  That in itself should tell you something.

I actually use lots of different exchanges because I invest in many different crypto's or look for certain trading pairs. As for leaving all my money in one exchange even if it were fiat it's not something I would feel comfortable doing unless it has an insurance policy for that situation. But while we're talking about exchanges my favorite is Kucoin.

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2 minutes ago, uchiha101 said:

I actually use lots of different exchanges because I invest in many different crypto's or look for certain trading pairs. As for leaving all my money in one exchange even if it were fiat it's not something I would feel comfortable doing unless it has an insurance policy for that situation. But while we're talking about exchanges my favorite is Kucoin.

Buddy, ANY man made currency is "fiat".  Dwell on that for a bit.

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9 minutes ago, mattn792 said:

Buddy, ANY man made currency is "fiat".  Dwell on that for a bit.

No, it's not. Fiat is the currency that the government promises has value nothing more or less. No one owns cryptocurrency. Also, it needs to be legal tender for the government to consider it currency like you say. Soon enough it will be accepted in US and Canada. Cryptocurrency has the value that fiat will never have.

Edited by uchiha101

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1 minute ago, uchiha101 said:

No, it's not. Fiat is the currency that the government promises has value nothing more or less. No one owns cryptocurrency. Also, it needs to be legal tender for the government to consider it currency like you say. Soon enough it will be accepted in US and Canada <3

That's too funny.  Anyone can invent one, and guys like Mr. Craig Wright can certainly have a field day manipulating the entire market -- https://coinnounce.com/bitcoin-cash-hard-fork-screwed-the-whole-cryptocurrency-market/

Invented by man, regulated by man, and will ultimately suffer due to man's whims.  Don't get me wrong, I'd like to see my lotto ticket cash, but if it doesn't I'm out about a quarter's worth of REIT dividends.  Other rather impulsive types might be digging out of the hole they created for decades.  When Long Island Iced Tea Co can skyrocket its stock by 8000% or so in a day just by changing the company name to Long Island Iced Tea and Blockchain Co, its time to wave the red flag.

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2 minutes ago, mattn792 said:

That's too funny.  Anyone can invent one, and guys like Mr. Craig Wright can certainly have a field day manipulating the entire market -- https://coinnounce.com/bitcoin-cash-hard-fork-screwed-the-whole-cryptocurrency-market/

Invented by man, regulated by man, and will ultimately suffer due to man's whims.  Don't get me wrong, I'd like to see my lotto ticket cash, but if it doesn't I'm out about a quarter's worth of REIT dividends.  Other rather impulsive types might be digging out of the hole they created for decades.  When Long Island Iced Tea Co can skyrocket its stock by 8000% or so in a day just by changing the company name to Long Island Iced Tea and Blockchain Co, its time to wave the red flag.

That happens with every market, to be honest. Like I said earlier this is a new market and just starting so let the bear market shake out the weak hands it will mean a healthier and stronger correction. The cryptocurrency market has a long way to go before it will be considered the end. Right now while most people are avoiding the market the wealthy are buying up everything cheaper and pushing it down even further so they can accumulate. Sound familiar? You can agree with me or not but I'm not buying what these people are saying at all.

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7 minutes ago, uchiha101 said:

That happens with every market, to be honest. Like I said earlier this is a new market and just starting so let the bear market shake out the weak hands it will mean a healthier and stronger correction. The cryptocurrency market has a long way to go before it will be considered the end. Right now while most people are avoiding the market the wealthy are buying up everything cheaper and pushing it down even further so they can accumulate. Sound familiar? You can agree with me or not but I'm not buying what these people are saying at all.

Well if I ever introduce MattCoin, you’ll be the first guy I call (thumbsu

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2 minutes ago, mattn792 said:

Well if I ever introduce MattCoin, you’ll be the first guy I call (thumbsu

Haha can't wait to see the specs and roadmap

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1 minute ago, uchiha101 said:

Haha can't wait to see the specs and roadmap

It’ll have the exact same intrinsic value as BitCon :bigsmile:

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1 minute ago, mattn792 said:

It’ll have the exact same intrinsic value as BitCon :bigsmile:

I doubt that one. In all seriousness if you make a coin I would check it out

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2 hours ago, uchiha101 said:

In any case I don't invest more than I can afford to lose as with anything

I love this statement <3 

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4 minutes ago, Iceman399 said:

I love this statement <3 

Why thank you.

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On 1/13/2019 at 1:40 PM, uchiha101 said:

Recent Purchases

Poptropica hidden Islands 

1 month of GPA Analysis Paid $10.95 USD

Detective comics lot 871-881

Paid:???

Sold:???

 

 

Questions:

If you are not *really* buying or selling graded books, how is GPA helpful to you right now? With your volume of sales could you not "get by" with a completed eBay sales? Save yourself the $10.95 USD per month?

How do you not know how much you paid for the Detective Comics Lot? What do you mean by Paid: ???

Sorry to hear about your inventory loss, every sellers nightmare, but I have to ask...How did it get ruined exactly and have you talked reimbursement from the renovation contractor?Finally, what were you doing "sitting" on that much inventory? Or was it all listed on eBay an other selling venues?

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On 1/11/2019 at 1:59 PM, uchiha101 said:

1. I'll be asking the reseller groups and my local LCS's when their slow months are to get an idea generally of what I should expect.

2. I didn't consider adding the time spent that didn't result in a purchase but only about 4 hours have been added to that. Since I'm using my money only I don't spend very long anymore going through things.

3. I do understand that. There are a few places that I always check up and go to. I do have a death pile of stuff that I still need to sell. would stop once I would get one.    

4. Well as I said earlier because I'm using my own funds it limits how much I can buy and sell and yes it was the period of 2 months. I don't have a car myself but if I paid my dad he would take me where I need to be. The problem is that for lower end stuff this becomes a problem because it's already thin profits as it is and paying for gas on top of the basically means it's not worth my time which is why I'm searching for items with higher profit margins. 

So I'll give you an example. When the video games market was hotter and more active if there was something on Kijii or Craiglist that I saw that I could even double or triple my money, or sell that same day I went for it. Even with the cost of paying for the ride there made it worth it. Now with the price of everything has gone up and the video game market having been slowed down and in a correction, I can't do that anymore unless it's something really profitable or that I can sell the same day.

 

Here's a question for you, Gabe.  You've been flipping comics for what, 4 years now, or around the time you started your initial journal.  Are you saying it never crossed your mind, in 4 years, to ask your LCS what their slow months are?  For the sake of any new readers who may not have followed your initial thread, could you please explain how you can justify not having a real job, collecting social assistance/welfare and at the same time spending ANYTHING on comic books, video games or ANY kind of "investment", while the taxpayers of Canada foot the bill for your living expenses?

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4 hours ago, Wall-Crawler said:

Questions:

If you are not *really* buying or selling graded books, how is GPA helpful to you right now? With your volume of sales could you not "get by" with a completed eBay sales? Save yourself the $10.95 USD per month?

How do you not know how much you paid for the Detective Comics Lot? What do you mean by Paid: ???

Sorry to hear about your inventory loss, every sellers nightmare, but I have to ask...How did it get ruined exactly and have you talked reimbursement from the renovation contractor?Finally, what were you doing "sitting" on that much inventory? Or was it all listed on eBay an other selling venues?

Well, you're correct in assuming that I don't "really" buy or sell graded book but I contact enough people and purchase enough comic books to justify the cost of $10.95 USD per month. It's also to keep track of how much I should and shouldn't offer someone for a certain comic.

Oh, I know how much I paid for the detective comics lot it's just that I've been told a few times I shouldn't say how much I buy it for before I sell the actual comics themselves. By paid I mean how much the comic book cost me.

Well being that my parents are my landlords and the contractors I can't do anything about it. I already know that if I had said something about it I would have been kicked out of the house for doing so. My dad mocked and laughed at me for all this stuff getting destroyed. 

How the stuff got ruined is simple. The renovations were happening and all the drywall dust went inside my electronics and toys that I had for resale. I have told my parents multiple times to not touch my stuff or go near it, my shelf was even moved far away from everything and had a protective covering which they took off. I wouldn't say I was sitting on the inventory because I was listing the things that would sell the quickest and thankfully I sold some of my most expensive stuff before it got destroyed. Yes, I use multiple venues to sell and cross-post with, eBay, FB marketplace, FB groups, Letgo, and Kijiji.

My dad openly mocked and laughed at me and these were his exact words to me "How much did you lose and spend on this again? 3000?, 2000? 1000?" "Oh well, it's not like it was selling anyway" I had to really bite my tongue after that because not only was that insult to injury but it was also ignorance on his part as well.

 

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44 minutes ago, Batman1fan said:

Here's a question for you, Gabe.  You've been flipping comics for what, 4 years now, or around the time you started your initial journal.  Are you saying it never crossed your mind, in 4 years, to ask your LCS what their slow months are?  For the sake of any new readers who may not have followed your initial thread, could you please explain how you can justify not having a real job, collecting social assistance/welfare and at the same time spending ANYTHING on comic books, video games or ANY kind of "investment", while the taxpayers of Canada foot the bill for your living expenses?

I have asked in the past what the LCS's slow months are just that I forgot what they've told me. Social assistance is welfare and as for why I justify buying stuff while being on it is simply because the money I invest is the money I earned so I can do as I like with it. I've already explained the plans I have for this year so if you've forgotten just go back a few pages and read it.

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10 minutes ago, uchiha101 said:

I have asked in the past what the LCS's slow months are just that I forgot what they've told me. Social assistance is welfare and as for why I justify buying stuff while being on it is simply because the money I invest is the money I earned so I can do as I like with it. I've already explained the plans I have for this year so if you've forgotten just go back a few pages and read it.

Gabe I think the issue you are running into and are missing (based on the "I can do as I like with it" comment) is this:

(Im gonna use random generic round numbers for simplicity, I dont think these numbers are actual) 

First let's say you need $500 a month to get by (rent, food, medicine). If you are getting $500 from the government in assistance to help you survive (food, rent) that $500 comes from taxes collected by the Gov't from people who are paying taxes on their income. 

If you make $100 (profit) then that money should go back into paying for your basic needs (meaning you take $400 in assistance + the $100 profit to still reach the $500 needed to get by each month. 

If you dont, you are essentially using the tax payers (who fund government assistance) to fund your attempts at making money, which is not the point of social assistance. 

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1 hour ago, uchiha101 said:

I have asked in the past what the LCS's slow months are just that I forgot what they've told me. Social assistance is welfare and as for why I justify buying stuff while being on it is simply because the money I invest is the money I earned so I can do as I like with it. I've already explained the plans I have for this year so if you've forgotten just go back a few pages and read it.

Before multiple streams of expletives start flying around, please define "the money I earned" and where exactly it is originating from.  

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57 minutes ago, mattn792 said:

Before multiple streams of expletives start flying around, please define "the money I earned" and where exactly it is originating from.  

The money I earned originates from the stuff I sell and the other part comes from my income tax refund. From there I use that money for either buying things or have enough for shipping

Edited by uchiha101

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57 minutes ago, mattn792 said:

Before multiple streams of expletives start flying around, please define "the money I earned" and where exactly it is originating from.  

I assume it meant the money he got from government assistance did not go into comic books, video games or bitcoin. 

I assume it meant that them money he put into comic books, video games and bitcoin came from "profits" made on flipping comic books and video games 

I dont know where the credit card debt fits in (were comic book, video game or bitcoin purchases made using credit card?)

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9 minutes ago, miraclemet said:

I assume it meant the money he got from government assistance did not go into comic books, video games or bitcoin. 

I assume it meant that them money he put into comic books, video games and bitcoin came from "profits" made on flipping comic books and video games 

I dont know where the credit card debt fits in (were comic book, video game or bitcoin purchases made using credit card?)

I’m just failing to see where these activities are generating any profits.

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On 1/4/2019 at 4:11 PM, uchiha101 said:

All items sold have already had all fees deducted from them

 

Sold items

Poke walker 

Paid $0.33 USD Sold $22.38 USD

Def Jam 2 

Paid $7 USD  Sold: $28.71 USD

NCAA 14 Football Xbox 360

Paid: $6.70 USD  Sold: $86.81 USD

Pokemon soul silver game case and manual

Paid: 4.52 USD   Sold: $11 USD

Aquaman #11 

Paid $52 USD   Sold:$83.75

 

11 minutes ago, mattn792 said:

I’m just failing to see where these activities are generating any profits.

The above is what Gabe sees as profit, and he's right in the simplest sense. 

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