Joined May 2020
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Been doing doing some math that includes time, effort, investment and risk when it comes to Web3 gaming compared to just buying Crypto. Result is not looking good at all. If you are looking into making money playing games here is a rough analysis. Regardless of the market conditions it is like this. 1️⃣ Time While playing games and learning about the game system and staying up to date with new changes and so much more is a complete time and energy killer. Everyone is experimenting due to the fact Web3 games are not having a clear working model and economy solution. So you invest a lot of your time not really knowing what for ( forget fun web2 games are for fun ). 2️⃣ Effort Even with huge investment you can't let AI agents play for you or rent your account to players because that model just does not give you any gain or does does not exist anymore. You gotta be competative and have time to be there for events. Meaning you put your own effort and be ready to met top tier gamers and investors if the game is any good. 3️⃣ Investment When investing you have to be aware of the vision of the team, count on their delivery, promotion and so many other factors that just can't give you an estimate of ROI or profit in the near or distant future. It's all based on how well project will perform in market conditions that are not going in favor of Web3 gaming for very long time now. Your are going blind with your money in almost every game out there, hoping it will do well. 4️⃣ Risk No matter how much funding teams have over 90% of projects were either closed, rugged or never did TGE. The ones that did stay either have play to risk model ( where you can gamble your tokens or stables ) or they are building during bad times and still trying to make things work but it does not really help you earn anything or a lot compared to money invested. I can say with certainty that investors in gaming were farmed as fuck for a very long time due to this reasons. Considering these factors buying $BTC at the top with 1 click would put you in 50% loss at the moment. However time, effort, investment and risk is a huge win in favor of BTC. To compare something more afforadble $ETH would put you at x3 loss at the moment. Im not saying gaming is bad or that you should not do it. Hell I do it, love meeting new people and making connections trough that, make jokes when we get rekked, find new things, exchange opinion and be a part of web3 community. But when it comes looking at it as investment it's far more difficult and complicated then buying any solid coin out there. This is an honest take from what I have seen in the past few years in the space. Happy for those did well.
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One of Croatian banks just announced that you can now buy $BTC straight in the bank. Why would any bank do that? It's a simple, yet effective and very powerful move on their side. Good for the bank, horrible for the customer. Here is the part where it gets interesting and how the bank is playing by the book to extract retail investors. Investor side of things: Step 1 is to go to the bank personaly in the next 1 month to buy BTC. I won't get into ETF and certificate details. You go there you buy, pay some fees are forget about it since it is a fixed contract and you can only take your BTC out in FIAT once the contract ends. Minimum investment is 1000 $USD and initial bank fee is 2%. The funds are protected from loss. Wow sounds great. Well it's not. Bank side of the play: Imagine a senior person who trust the system and has some funds stacked. There are so many. They decide to invest. With 1k minimum investment and no limit to maximum investment bank takes care of buying BTC and all the complicated steps for the customer such as creating the wallet, keeping it safe etc etc. Funds are then locked for a fixed period of 5 years and 2 months. Tax is simple. If you hold funds for 2 years without trading your profit tax is 0% Once this long term investment and customers contract expires if the price of BTC is lower then their buy in price, they get their investment back. Minus expenses of the whole process, the 2% fee I mentioned earlier and who knows what else they offer in this package once you actually sign the contract. The catch? Customers profits are limited to maximum of 50% gain. Meaning if BTC goes to 200k and you get it for 67k now you can only claim your initial 50% and that's it, minus non refundable fees you pay at the start. Any time BTC brakes a new ATH goes only in favor of the bank. They are betting that in the next 5 years price won't go below current price and that at some point it will break 1.5x which is the maximum profit customer can make. New ATH and everything above is pure bank profit. For FREE. Anytime they sell it above 100k is a win for the bank at the current 67k price. They got 5 years and 2 months to sell it and figure it out. Meaning next bull cycle and so on they will have full control over customers wallets and funds. Literally bank will farm free BTC or FIAT based on investment of clients and anytime they sell once the price hits new ATH in the next 5 years will give them a huge profit. Simply by this "no loss insurance" since we all know BTC will see a new ATH in the next 4-5 years. This really is next level of thinking and by selling safe investment they found a way to fill up their pockets and stack free BTC which retail investors will give them for free their 2% buy fee and who knows what else. What a move. Literally anyone buying by trusting the bank for the next 5 years does not understand the cycles, why BTC keeps braking ATH after ATH after every halving and every 4 years. In case BTC would drop below current price then bank would be the one in loss. Anyone here longer then 5-10 years who thinks they can actually loose? I don't think so. Understanding the space and being here for so long I just don't see the bank loosing this hand. As for retail, well it sounds good and safe but they are actually providing the bank with $BTC and locking their funds for possible 50% or possible brake even for the next 5 years. This literally is a deal with the devil.
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Well as top collector and one of the biggest investors in this game I'm sad to share this news. It was a fun journey but the shutdown of this game is just proving my point in my recent pinned post about Web3 gaming. Invested into something experimental, did not end well for various reasons. Built up so much here. - Set up to have decent weekly earnings without much effort with my last weeks investment. - Won the first and only guild war by leading and representing @MarkofTheZeal guild in this game. - Kept top 1 position on collectors leaderboard and won many weekly fishing and cooking contests since the game started. Unlike many projects we got some $USDC back straight in our wallets. Overall it's a huge loss for me in time and money invested, especially with the fact my last $FISH diving rewards were unlocking tomorrow and troughout next 3 weeks. No notice ahead i will never be able to get my investmen that is in vesting period. It's still a risk I willingly took to play a game on my own terms in my own free time. Will dive last half a million gold for fun before I close it for good. As a creator and a supporter I thank everyone who followed me on this journey and I'm sorry for everyone who had losses. I'm taking this L as a champion. Keep your head up and remember the connections you made. To my crew, to @Kyroh supporting me with MoTZ, and all of you I met in game kudos. Better times will come. Take value in connections you made and move forward. I know I will. This will be my very last post on @FishingFrenzyCo.
It saddens me to share this but we have decided to shut down Uncharted and Fishing Frenzy. I’m proud of our team and how we have operated, but ultimately we could not prove product market fit. My sincere and deep thanks for everyone who has supported us - investors, partners, community members. You made the journey a lot more enjoyable and I’m sorry we couldn’t deliver.
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Doomgaze retweeted
Jun 12
A couple weeks ago we hosted a $1,000 @arbitrum x @TheBeaconGG tournament & after I had to jump into the new update myself. The dungeons were fun, the mini-games were super addicting, and this is definitely one of the games In crypto that i'm keeping my eye on! highlights👇
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It's my Birthday today. I reached level 37 😆 My GF just got me a lot of stuff including some Pokemon packs. I did not get any since 1st edition was out. Guess it's time to rip these 2 packs and hope the re-pack has something I genuinely like. What should I hope to get?
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Thursday could be another bleed. Just saying.
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Lately I agree on a lot of things he says. You can't say these kind of things if you were not there yourself for years. Feels like everyone has a few M in funding, big golas, they create a big hype, then suddenly they get hacked or project is shut down etc etc. Crime is legal.
A lot of these "hacks" are inside jobs btw. Think about all the things teams did this cycle, sybil their own airdrops, rug community allocations at TGE, crime pump their own token on exchanges to liquidate shorts. So it shouldn't come as a surprise when teams pretend to have been hacked in order to extract even more funds, at the expense of a project that was already dead anyway
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I never hit a jackpot in @FishingFrenzyCo but I did hit black bubbles on x10 on all possible dives except $FISH. In this market this is a huge win. Can't say I'm in big net profit but after 3 days of chasing this I finally hit 1k $ dive 🔥
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Listen to him, it's literally like that. Wish I had the foundation vision back in 2022 myself. But it's never to late to do the right thing.
The recipe for surviving times like this is basically what I did in 2022 and what laid the foundation for the good things that came later. First of all, don't overtrade. Don't touch perps. I repeat: Don't touch perps. Put money into spot coins that you believe have strong fundamentals and that you're comfortable holding for at least a year. Bitcoin obviously, and maybe some narrative coins you like. I repeat: Don't touch perps. You can easily get wiped out in times like this. And even if you don't, if I had put all the money I lost on perps into spot holdings, I would have twice as much money today. The second part is building your base, something that can generate opportunities and income for you when the market turns bullish again. For most of you (and for me back then), that base is your X account. As you may have noticed already, a lot of mid-sized and large accounts have fallen off over the last few months. Bear market things. That sucks for them, but it's an opportunity for you. Create content, connect with people on the timeline, and find topics that genuinely interest you. Be patient for a year, and you'll be in a better position than 99% of the people trying to make money by trading right now
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👀
Jun 4
Saw @GetVoltGG launched auctions on their site for slabs/collectibles and had the itch to rip a pack.. Hit a cgc 10 Mew 👀
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I remember all sorts of opinions on this, guess it's a good time to post it. Saw it last year and saved the SS. Interesting how things are playing out. #Cryptomarket
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Thursday has been a Crypto bleed day over a year now somehow. $BTC and $ETH took a big dive. Alts naturally followed. If you follow the 4 year cycle this was to be expected. Perfect day to DCA for long term holders. Following your strategy will work out, ignore the noise.
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Interesting approach.
We’ve just entered June, Men’s Mental Health Month. Every day, we lose 108 men to suicide. If you’ve been feeling lost lately, I want you to use this post to let your demons out. You are not alone brother.
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Next guild war in @FishingFrenzyCo starts in 10 days. Here is a 10 steps guide on how to properly prepare for the competition. Wars give Gems that unlock boxes. Boxes contain Gold, $FISH and Sushi that you can use to build up your account and move up on the leaderboards.
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10/10 Stick to the plan. Don't risk the war rewards by diving and individual leaderboard with your resources. Set asside what you need for the guild war. Get 10 persons team to do the same thing and you will do great. T ogether E veryone A chieves M ore Use guild chat 😂 ❤️
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This is how @MarkofTheZeal prepared and won the first guild war by 120 000 points ahead of everyone else. Preparation weeks before the war are for this reason, to actually do your math and prepare you team. Did not try the game yet? Use my invite code: fishingfrenzy.co/?code=DOOMG…
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