My experience with fractional ownership of comics: JIM #83 / $215,000
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I understand why people like the idea of owning a tiny piece of a specific book. It just seems to me a fund that invests solely in $25K+ or $50K or whatever slabs might make more sense. There are investment funds like this all over for different items. My friend used to consult for a high end wine investment fund.

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Just now, the blob said:

I understand why people like the idea of owning a tiny piece of a specific book. It just seems to me a fund that invests solely in $25K+ or $50K or whatever slabs might make more sense. There are investment funds like this all over for different items. My friend used to consult for a high end wine investment fund.

Did he personally taste each bottle? 

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1 minute ago, batman_fan said:

Bitcoin fascinates me.  Back when you could use it for transaction on the Silk Road it made sense but now that it is an investment vehicle mostly it seems (I know some places take it as payment) I don't understand the price.  Like most scams those that get out before it collapses will make out very good

this scam has been going on for almost 11 years though. it hit its peak in 2017, but is not down that far from there right now. i never understood it. it was just too easy to create new crypto currencies. 

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1 minute ago, batman_fan said:

Did he personally taste each bottle? 

No, I think he was more in the marketing end. At the time he was a marketing guy for a wine and spirits company,

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4 minutes ago, the blob said:

this scam has been going on for almost 11 years though. it hit its peak in 2017, but is not down that far from there right now. i never understood it. it was just too easy to create new crypto currencies. 

Yeah there are a ton of them out there with no real rhyme or reason other than “hey look, we are new, give us your money”. In the good old days you could mine bitcoin and effectively get free money.  I know people that did it and now own several hundred thousand in coins.

My favorite part of bitcoin was the guy that made physical coins with the coding to access the coins on them.

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4 minutes ago, batman_fan said:

 

Yeah there are a ton of them out there with no real rhyme or reason other than “hey look, we are new, give us your money”. In the good old days you could mine bitcoin and effectively get free money.  I know people that did it and now own several hundred thousand in coins.

My favorite part of bitcoin was the guy that made physical coins with the coding to access the coins on them.

I tend to lose and forget passwords. I'd probably lose a billion $

kind of irritating you get capital gains preferential treatment with bitcoin, but get burned on comics: https://www.magnifymoney.com/blog/investing/bitcoin-taxes/

 

Edited by the blob
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2 hours ago, Gatsby77 said:

Rally Rd. itself has 50%+

Therein lies the rub. Do they disclose what exact percentage?  Can’t they create “demand” by showing an item is selling out quickly when in fact it’s just Rally Rd increasing its own percentage of ownership? 

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4 hours ago, batman_fan said:

I have no issue with people putting their money into something like this.  If it is what makes you happy have at it.  The only time I do have issue is if as a taxpayer I am forced to make someone whole for doing stupid stuff.  For this particular scam, I wont have to worry about that.  The total amount of money people can lose is way below any threshold where the government will care.  Like most scams, those that get in early and out early will make money, kudos on the score.

Oh no, they will care.  I remember when my friend's younger brother ran such a thing.  The government came and took everything including the boat he shared with his dad. 

Heh... I live in an interesting town.

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Some guy in the 1970's made a lot of money stocking up on rocks, putting eyes on it ,and selling it as a pet.   

Made a few $million from what I understand.

But at least you got to touch, hold and keep the pet rock. 

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17 hours ago, the blob said:
17 hours ago, batman_fan said:

Bitcoin fascinates me.  Back when you could use it for transaction on the Silk Road it made sense but now that it is an investment vehicle mostly it seems (I know some places take it as payment) I don't understand the price.  Like most scams those that get out before it collapses will make out very good

this scam has been going on for almost 11 years though. it hit its peak in 2017, but is not down that far from there right now. i never understood it. it was just too easy to create new crypto currencies. 

Bitcoin is currently 3 times its peak from 2017.  High in 2017 was $17,000.  Current = $51,000.

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17 hours ago, the blob said:

I understand why people like the idea of owning a tiny piece of a specific book. It just seems to me a fund that invests solely in $25K+ or $50K or whatever slabs might make more sense. There are investment funds like this all over for different items. My friend used to consult for a high end wine investment fund.

Someone else selects your books?  That's worse than this concept.  If I want $100 in FF #1 and $500 in AF #15, I just do that.  If someone else manages the fund, they might decide to go in heavy on Red Ryder.

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17 hours ago, batman_fan said:

Bitcoin fascinates me.  Back when you could use it for transaction on the Silk Road it made sense but now that it is an investment vehicle mostly it seems (I know some places take it as payment) I don't understand the price.  Like most scams those that get out before it collapses will make out very good

So, Bitcoin was a scam and anyone who got in at $0.10 and got out at $0.20 did well.  Except that it's currently worth $51,000. 

"Get out before it collapses" advice like saying "stock up before World War III".  Sure, you might be right... someday... but what's the point if the final day before the collapse is decades away?

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Playing with fire might get you burned, but standing in the yard with a hose watering the same spot for months while yelling, "I'm telling you there's going to be a fire here someday - you'll be sorry when it starts - I'm just tryin to help you!" as the mudhole gets wetter and deeper isn't a good use of your time (or water, for that matter).

You all have mud, and I have matches.  Your opinion is that RallyRd is a scam and my opinion is that playing in mud trying to keep people from getting burned on RallyRd is just a messy version of "The End Is Near" sandwich boards in Times Square.

Don't bring your mud to a RallyRd fireworks exhibition and I promise not to bring any matches to your 0.5% yield treasury bond party topics.

Edited by valiantman
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18 minutes ago, valiantman said:

So, Bitcoin was a scam and anyone who got in at $0.10 and got out at $0.20 did well.  Except that it's currently worth $51,000. 

"Get out before it collapses" advice like saying "stock up before World War III".  Sure, you might be right... someday... but what's the point if the final day before the collapse is decades away?

Great, please tell me the day when all asset prices will fall.  You can’t.  People that are emotional about investments are the most likely to lose.  I worked with a lot of multi-millionaires in Silicon Valley that lost it all because it could never go down.  If I got in Bitcoin at $0.10 and got out at $0.20, I made money and I would move on.

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2 minutes ago, batman_fan said:

Great, please tell me the day when all asset prices will fall.  You can’t.  People that are emotional about investments are the most likely to lose.  I worked with a lot of multi-millionaires in Silicon Valley that lost it all because it could never go down.  If I got in Bitcoin at $0.10 and got out at $0.20, I made money and I would move on.

You're the one saying "get out before it collapses" as if you know what day that will be.  Why would I be the one to tell you the day when the asset prices will fall?  You would have been right on Bitcoin selling at $0.20, and so wrong on BItcoin it's unbelievably ridiculous.  You do you.  I'm not selling something that I enjoy owning just because it goes up a little.  I would have sold my CGC 9.6 TMNT #1 first printing at $10,000 under your rules.  Under my plan, I still have it.

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Just now, valiantman said:

You're the one saying "get out before it collapses" as if you know what day that will be.  Why would I be the one to tell you the day when the asset prices will fall?  You would have been right on Bitcoin selling at $0.20, and so wrong on BItcoin it's unbelievably ridiculous.  You do you.  I'm not selling something that I enjoy owning just because it goes up a little.  I would have sold my CGC 9.6 TMNT #1 first printing at $10,000 under your rules.  Under my plan, I still have it.

Actually not what I said at all

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Just now, batman_fan said:

Actually not what I said at all

Want to clarify "get out before it collapses" - your exact quote?

Go for it.

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5 minutes ago, valiantman said:

Want to clarify "get out before it collapses" - your exact quote?

Go for it.

What I actually said

Like most scams those that get out before it collapses will make out very good

Didn’t say get out before it collapses. No way to know when that is or even if it ever happens. There were several Bernie clients that did quite well investing with him. 

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14 minutes ago, batman_fan said:
21 minutes ago, valiantman said:

Want to clarify "get out before it collapses" - your exact quote?

Go for it.

What I actually said

Like most scams those that get out before it collapses will make out very good

Didn’t say get out before it collapses. No way to know when that is or even if it ever happens. There were several Bernie clients that did quite well investing with him. 

Sure, but "scam" is an opinion and accusation.  After the fact, anyone can diagnose a problem. 

What's the current problem here?  I own $60 worth of an Apollo 11 joystick used by Buzz Aldrin.  I could have sold for $120 on Tuesday of this week.  Am I being scammed by holding?

Should I have waited until I could afford the whole $600,000 joystick outright?

Edited by valiantman
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