I just checked my Splinterlands deck value this morning and what I saw there was very pleasing. In the general scheme of things, it might not be much money but this is literally the most money I've ever had in my life.
As the dollar value of my deck continues to rise, I grow even more confident of my prospect of exiting this country. The last time I spoke with an immigration consultant for Canada, the person said I and my wife would need roughly $25k to move to Canada.
Out of the $25k, 18 will be used for proof of funds to sustain life while we settle into the country. Back then, I actually thought it was a pipe dream but watching how my Splinterlands deck has risen in value over the past couple of weeks, I suddenly feel very optimistic.
Wen sell?
Two days ago, I ran into @tarazkp's article where he talked about the potential of selling his crypto assets. It was a very relatable post for me because it's something that I've been considering for some time now.
The situation in Nigeria is kind of screwed up right now and to make matters worse, my end of the country is probably the most affected. I've been contemplating proactive steps that I could take to fix our problem and the summary is that we have to get out of here.
My Splinterlands deck is currently valued at approximately $20k, which brings me one step closer to my target. The question is do I liquidate and relocate?
NFT boom, airdrop, and passive income
Liquidating now is obviously a terrible decision because, well, this isn't been the peak of the market. Recently, people were buying invisible rocks for thousands of dollars on Opensea, so I think the NFT market is still very much ripe for plucking.
So, if my deck value continues rising at this rate, it could be about $50k in 6 weeks' time. This is a very lofty ambition but crazier things have happened in the crypto space, so I'm keeping my fingers crossed.
The only issue with selling is that my assets make me eligible for passive income opportunities. At the current rate, I'm making around $38 per day from holding assets. Selling off a chunk of my assets would affect my daily income that would have aided my stay in any country we relocate to.
Get rich and relocate in style
There's also this final option and this is the one I actually approve of. Imagine my assets and investments grow to around $100k.
Having that kind of money would greatly smoothen the process of relocating. Also, We'd be able to move comfortably and adjust without too many moving pains.
Well, I'd like to wait like 6 months into the market to see where things go. If things stay the same and the market continues to favour my assets, we could be set to exit this country within the next 12 months.
Please check out my Freelance gigs:
- I write insightful blog posts about, Finance, Fintech, blockchain, and cryptocurrency
- I write insightful football articles
Contact & Support
- Discord: belemo#9593
- Twitter: https://twitter.com/belemo__
- Telegram: uncleskipper
- Email: [email protected]
- Hive.vote page
- ETH and BSC wallet: 0xC75E34E3ee9a343041B3322E1bD97b4940Ed721d
- Bitcoin Address: bc1q635vre2jj9zhde9cyvflyz4h9c0p57gg3s3yre
Posted Using LeoFinance Beta
I was actually thinking about the same thing this morning and realized that this would not be a very good time to sell. Think about a few things for a second.
Splinterlands is hitting 34k active users daily and my Lord Of Darkness legendary is one of 1k in existence. This means that there are 34 people interested in the same card but only one of them owns it. What happens when the userbase goes to 100k and then eventually to a Million?
Looking at things in the long term renting seems like a far better strategy. Why sell an asset that could generate passive income for years to come? People are already paying Millions for pictures of rocks. You would expect them to pay an even higher price for a card that could win you a tournament and some serious cash prizes.
Posted Using LeoFinance Beta
You're spot on from that agle. However, what if my life is in danger and I need to get out of the country?
I honestly don't want to sell any asset but at the same time, I have to think about the life and safety of my family, you know?
At the end of the day, if you're dead, you can't play splinterlands
Posted Using LeoFinance Beta
If the situation is that serious there is nothing to think about. Sell and never look back if that will make your life easier and safer.
Posted Using LeoFinance Beta
Yeah, for now, I'm just keeping my head down and living one day at a time. I'll accumulate as much as possible to ease our relocation plans. Hopefully, before the end of the airdrop, we'll be ready.
certainly hope your life is not in that much danger...if it is, selling could be the only option. I dont want to lose belemo. If I had a million I'd buy them from you even temporarily haha but I didn't invest enough over the years =( lol
God damn it, you should have invested more lol
I know, I'm dumb. Cause I knew. 😂
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
You are even thinking about it sell and for tutorials on how to trade future and we will increase that funds to 25-30k within the next one to 2 months being realistic.
Sup my favorite nigerian (seriously :P) I'm on a somewhat similar boat with all my crypto's and NFT's skyrocketing in value, having never had this much wealth in my life. While my "relocating" situation is only about moving from a trailer that is falling apart to what I'd hope to be a house and I have the funds to do it but that means selling a lot, which means losing out on passive income.
So with that said I can't imagine the hardships you face in your country that you want to exit to Canada so badly. Taking care of and ensuring your family is safe is priority number one so it's definitely a hard decision to make given the current market. I think the value will go up more just like you say. The question is will there be anyone to buy it?
At $38 a day that's roughly $13k after the 365 day airdrop at todays value which is what I believe to be around 30k SPS if I'm not mistaken.
I think SPS could very well follow in similar footsteps as AXS and can at least hit $5-$10 within 5 years.
30k x 5 = 150k so based on what I think can happen your 100k is very much possible.
The question is how long are you able to sustain or put up with the current situation? Is there any danger to your family?
Are you playing splinterlands/able to play and win/earn DEC to cash out regularly? or perhaps rent out cards to cash out DEC without compromising your current airdrop rewards? All stuff to consider.
I have a GF Peacebringer that I saw was listed for $125k I was ecstatic and considering selling it. Few days later I saw it for about 40k so I put mine up for 35k. got undercut I put it up for 28k, undercut again it's now listed at 16.5k but selling ONE card for 15-16k is probably still worth it since I got it for $0.40 from a $2.00 pack of 5. The question is will it sell? I hope so lol.
I will send some prayers your way bud. I really hope you get your 25k fast and then some.
SOme of these cards are too damn expensive and I doubt anybody will actually pay that huge amount for one. However, I really hope it sells man. $15-16k for just one card? Holy shit that's a lot. Fuckm even getting half of that amount is still a lot of money for a card.
I sold off some cards and have been reinvesting/improving my life with it but it means very little if one day something bad happens to me or my family. Insecurity is on the rise around here and there's no hope in sight. Medical doctors are on strike, the police are useless, and the whole thing is falling apart.
I'll try to hold out till later in the airdrop. Also, if SPS actually does $5-10 maybe after listing on a popular exchange like Binance, then that would make life so much easier. Until then, I just keep my head down and stay safe.
I’d hold on to my Splinterlands cards since we are all earning so much $$$ from Staking our SPS. I’m just selling other crypto when they reach All time highs but not earning me much from staking…
Its a tough one. I wont give you advice but i decided to hold on till at least binance or Huobi lists SPS. Thats the goal.
Man I'd like to hodl everything and wait for a mighty big move like that but I'm always worried about my family's safety. I might hold out until the end of the airdrop, by that time, I think everything will be clearer but if things continue getting fucked up in the country, I'll do what's right for my family's safety.
What's the point in owning NFT if I'm too dead to use them?
Thats a good point. I dont think you will have to hold on till the end of the airdrop. Thats 11 more months. I dont expect ill hold more than a month or two more. Its just too much money for pocket to have in 1 asset.
I've been restrategizing my airdrop point thingy too. I noticed that with around $3k worth of DEC in holding, I'll earn as much SPS as my $20k worth of collection power gives me. So the only disadvantage is that I won't battle anymore.
Yeah i think ill do that as well most likely.
Lool he say too dead!
Posted Using LeoFinance Beta
There is always the risk that the value will decrease before you get the chance to sell. It could also increase.
Perhaps you can set a maximum number, it's up to you what that number is, that you will allow your deck to be valued.
For example: I will only own a $10,000 deck. Anything over that gets sold into HBD. This way, you lock in your gains and you still have an asset that could appreciate. If the value drops below $10K, keep playing and earning cards.
This preserves your gains and avoids wild fluctuation. As the day of your emigration approaches, you don't want the market to suddenly start dumping as you watch your plans fall apart. And, if the market is rising, you'll still have $10K working for you.
Again, that number was just an example. I'm no financial advisor.
Posted Using LeoFinance Beta
Makes a lot of sense actually. I'll crunch some numbers now
Thanks for sharing i go with the last option of waiting for the Splinterland deck value to rise up to about 100k dollar that way even if ypu sell part you have some set out to continually earn a passive income .Thank you @belemo for sharing
Yea thats definitely a tough decision to make. At the end of the day you have to put your safety and well-being first, but I understand how knowing the potential of Splinterlands assets long-term can make you a bit indecisive...wish you the best brother
I am taking 75% of my SPS and turning it into Stablecoins
Same thing with my Rental DEC
If you then put those stablecoins into Celsius it will give you 8% bonus interest as well. That will also allow you to sell less if the time has come to leave
The main difference is that my cards are already valued at over 150k
Posted Using LeoFinance Beta
That's another neat idea. Thanks mate. I've gotten a bunch of ideas that I'm going to use.
Every time I speak to you or read your content, it seems like things are getting worse for you.
When it comes to the safety of you and your family vs making a few extra bucks on a single investment, the decision seems a no brainer.
Get out while you can and build again in safety.
As I've said before though, whatever the fuck an "immigration consultant" is, sounds so shady.
Just make sure you have exhausted all other avenues to getting you a move rather than paying some dodgy private company thousands of dollars when maybe you don't have to.
Posted Using LeoFinance Beta
If you can get a better life, relocation might have its benefits. Money isn't everything and you gotta do what it takes for a better life.
Posted Using LeoFinance Beta
We're you able to get your hands on some lands in the sale? I think that is going to send things sky high when they finally launch. That could be the difference for you right there. I totally understand not wanting to give up passive income though. My deck is worth a bit more than yours and I have been contemplating selling too. It's a very stressful choice.
Congratulations to you and more token.