Is coral a lot like crypto?

[GK3]

Ok now that I have you here, I’d like to talk to you about your cars extended warranty.

The question: is the sale and price of coral very similar to the sale and price of crypto - it comes in huge waves (punny) and then crashes. The cycle repeats.

if you aren’t into crypto here is what I mean, let’s use bitcoin as our example. In 2010 bitcoin traded for pennies. Over the last twelve years the price has increased dramatically, fallen back down, some people wanted it, then no one did etc.

I feel like coral is the same way. Sometimes coral is super easy to sell and other times you can’t. We used to see HG torches sell for $1200 now we can get them for $700. Regular BTAs used to be $40, then $100, now they are $60-80.

it feels like there are coral crazes and prices jump, then we go dormant and prices fall. I feel like we are dormant.

thoughts?

 

[flashsmith]

Well... When you buy coral you have something. When you buy crypto you have monopoly money.. Crypto puts Amway to shame.. lol

 

[Microcosm Reefer]

NFT corals next?

 

[Karen00]

I think part of it could be the "flavour of the day" phenomenon but I think it's more related to supply and demand especially when it comes to places becoming off limits to collect or possibly some disease is wiping out the wild type so we're restricted to whatever is available via hobbyists or in the lfs's. In the case of a place reopening for collection then I feel prices will naturally drop as supply increases.

 

[ZoWhat]

Thoughts?

You have way too much time of your hands sitting around pondering.. lol

 

[i cant think]

Ok now that I have you here, I’d like to talk to you about your cars extended warranty.

The question: is the sale and price of coral very similar to the sale and price of crypto - it comes in huge waves (punny) and then crashes. The cycle repeats.

if you aren’t into crypto here is what I mean, let’s use bitcoin as our example. In 2010 bitcoin traded for pennies. Over the last twelve years the price has increased dramatically, fallen back down, some people wanted it, then no one did etc.

I feel like coral is the same way. Sometimes coral is super easy to sell and other times you can’t. We used to see HG torches sell for $1200 now we can get them for $700. Regular BTAs used to be $40, then $100, now they are $60-80.

it feels like there are coral crazes and prices jump, then we go dormant and prices fall. I feel like we are dormant.

thoughts?

I’ve wondered the same recently, many acropora also follow the same trend of having a great price then people go into hunting them and the price rises to the 4 digits, then it drops to the three digits and continues to drop until it becomes popular again.

 

[sixty_reefer]

It’s more like rare coins collections, as more of the same coin become available the more will the price drop and not all rare coins worth a lot of $.
Now that we took this issue out of the way, how much is that extended warranty going to cost me?

 

[Biokabe]

I don't really see it as related to crypto, which is a highly volatile market with no tangible goods associated with it other than a whole lot of wasted electricity. Coral prices behave according to regular supply and demand. When a new coral color morph is brought to market, a lot of people want it. Couple that with the fact that a new morph won't have many daughter colonies out there increasing the supply, and the price is high. As coral collectors acquire the new pieces, demand drops while supply slowly starts increasing. As word of the new morph spreads, mid-tier coral collectors begin trying to get their hands on the coral. This maintains the price of the coral at a price that these collectors can support.

If the coral is weedlike in growth pattern (rapid growth, easy success), the price eventually drops down to rock bottom - your GSP and Xenia colonies that sell for $10-$20. Holllywood Stunners for $5. No-name zoanthids for $15. If the coral faces restrictions on its supply (maybe it grows slowly or often dies when introduced to a new tank, for example) then the price remains high.

Contrast that with crypto, where the only reason someone wants a BitCoin is because other people say it's worth a lot of money. No one buys a BitCoin just to have it and enjoy it. They buy it explicitly as an investment vehicle. Plenty of people buy corals just to have them and enjoy them, with no intention to ever profit from the acquisition.

 

[Alexraptor]

Plus, crypto can't in themselves generate more crypto, unlike corals.

 

[sysakyk]

I definitely agree that both bitcoin and coral have an ever-changing market, so investing in both can either be a risk or an opportunity to gain. Both are crypto currencies that provide security and privacy to the users.

 

[Gregg @ ADP]

Well... When you buy coral you have something. When you buy crypto you have monopoly money.. Crypto puts Amway to shame.. lol

As a Grand Rapids native, I appreciate the Amway reference

 

[livinlifeinBKK]

Maybe monetary value follows a similar trend but the reasons for the trends arent similar at all...i honestly don't see many similarities between the two in any way

 

[GARRIGA]

Reptile morph market very similar to designer clown-fish and new coral colors. It's kind of like a pyramid scheme in that those getting in early tend to see the greatest returns and those getting in late might take losses. This excludes those who just want the next nicest thing.

Crypto is just foolish. The Greater Fool on display. Similar to buying AMC because popular belief it goes to the moon. More foolishness. All based on hoping another sees more value than self paid. However, if one could frag shares

 

[PeterC99]

Are corals like cyrptos?

Absolutely.

Have to be a little bit crazy to dabble in them!

 

[Piscans]

NFT corals next?

inject corals with block chain that you can scan

 

[StatelineReefer]

Plus, crypto can't in themselves generate more crypto, unlike corals.

Proof of Stake says otherwise, but I would take that with a grain of salt... or a bucket of salt.

At least then you have an extra bucket.

 

[Piscans]

Proof of Stake says otherwise, but I would take that with a grain of salt... or a bucket of salt.

At least then you have an extra bucket.

buy a computer with bitcoin, mine bitcoin with computer you bought with bitcoin. profit.

 

[Piscans]

honestly i feel like this kinda thing has happened throughout history. probably a caveman found a shiny rock, then he traded it for other shiny rocks. and eventually, a smart caveman realized the shiny rocks were worthless and their value crashed

 

[glency]

2021s $4!tcoin run(SHIB) paid for my reefer 350 setup.

 

[glency]

Proof of Stake says otherwise, but I would take that with a grain of salt... or a bucket of salt.

At least then you have an extra bucket.

What if that salt is Turkish Tropic Marin?