Over the last five years I have steadily built up a massive collection of MtG...

Sharpcharm
Sharpcharm

Over the last five years I have steadily built up a massive collection of MtG trading cards. Ive invested about 3~3.5 grand into the collection and its now at a net worth of about 10k.

Im done playing mtg and I think a lot of my value has topped out, so I am selling out. Selling to businesses (since its rare to find individuals willing to drop 10 grand on an entire collection that doesnt have power 9 in it) means I have to take a 30% hit or so to profit.

Im expecting to be able to liquidate my entire collection into about 6K or so.

Here's my thoughts on how to use it:

~$1,000: Buy myself a beater car, I dont have a car atm. Low on insurance, cheap on gas. Probably a corolla.

~2,600: Invest in a x6 AMD 480 GPU rig at the end of the month when it comes out and start mining GPU based coins (IE eth) With eth currently tanking, I wanna be mining eth while everyone jumps ship. At $4~5 if it bottoms out I will still be profiting a few hundred bucks a month after taking off my electricity for the build (1000w)

$300: I have a tax free savings account currently rated at 5% a year. Its small atm so I'd like to get a bit more of a rainy day fund in there.

$1,800: investing in AMD stock. I have high faith AMD has their shit together and Im expecting this to be a rock solid investment.

~$300: Fucking around with penny stocks with whatever is left. I am not expecting this last bit to be profitable, but I want to continue practicing my investing skills.

I basically spent the last 5 years of my life practicing investing in the MTG market and making decent money, so now Im moving up to real stocks (just penny stuff aside from the whole AMD thing)

If I can break 20K Ill start playing real ball.

Whats everyone's thoughts on this budget?

LuckyDusty
LuckyDusty

Buying a $1000 car is the worst financial mistake you can make. If it's not already having some major mechanical problems, it is on its last legs, and will quickly be only worth its weight in scrap.

inb4 my friends dad sold me my first car for $500
a 1 owner civic with 70k miles

Unless someone you personally know is cutting you a huge deal stay away from a beater car. You wanna be in the $2k-$3k price range at least. You can find lower mileage cars with a service history that won't shit the bed after 3 months in this price range.

PurpleCharger
PurpleCharger

@LuckyDusty
Ive already got this taken into account. Im not buying the car ASAP, just camping kijiji and shit for a 'gotta get rid of the car asap' kind of deal where the car is actually half decent.

I just need the car for grocery trips and the ability to say "I have a car" to my boss at my job. And maybe visiting my parents every now and then.

But I mostly ride public transit since its dirt cheap in my city, and I only live a couple blocks away from my job, grocery stores, and pretty much anything else I want. I just ride my bike everywhere to stay fit too.

So the car is just something I need for 'just in case' scenarios. So I don't need it asap. Which means I can camp for an awesome deal and jump on it.

Supergrass
Supergrass

@PurpleCharger
That's better then. Also i personally wouldn't spend $2,600 on a computer to mine memecoins. Can't you rent a VPS to do that? But you're smart to be looking for a second income stream to supplement your wageslave job

TreeEater
TreeEater

@Supergrass
It looks like it will pay for itself within 4 months, at which point it will start profiting me which is nice.

I just like building computers so its actually more of a hobby for me that also happens to make money at the same time. Win win!

Flameblow
Flameblow

@Sharpcharm
You arent getting $6k. Youre delusional. Try 60% off to sell to businesses

AwesomeTucker
AwesomeTucker

@Flameblow
I already have quotes actually. Im getting 6K. Might be a bit more or less (+/- 200 bucks since I have some special extra cards Ill be adding in that are not included in the pricing)

Fuzzy_Logic
Fuzzy_Logic

@Sharpcharm
Love these threads.
Point out what's financially wrong in OP's post.

Car's been done.
Eth will stop being GPU-mine-able soon.
Savings - sounds good, but normally 5% accounts don't allow you easy access. It's either 0-1%, or can't touch for a few years.
Not sure what's wrong with AMD stocks though, but then, don't know much about stock.
Penny stocks - you're better off playing slots.

And bonus points - MTG isn't an investment, it's a meth ponzi scheme.

How did I do?

King_Martha
King_Martha

@Fuzzy_Logic
Soon means not now which means I am making money and can continue making money until such a day comes. I dont forsee it even remotely anytime soon if the community is currently debating forking, which will set us far back away from non-gpu mining for a long time.

As for penny stocks, it isn't with the goal of making money. Im practicing investing skills, including market researching.

And when I liquidate my cards in two days to the store I have lined up, Ill have profitted about 3K from investing in mtg.

Exactly how do you feel mtg is a 'meth ponzi scheme' by the way? Im curious.

Inmate
Inmate

@Sharpcharm
Ok, in that case lets talk about your OP

~$1,000: Buy myself a beater car, I dont have a car atm. Low on insurance, cheap on gas. Probably a corolla.
I like your thinking getting an affordable car thats goos on gas, but $1000 wont get you a reliable one. Spend $2,500 to $3000. Corolla or Civic are great options
~2,600: Invest in a x6 AMD 480 GPU rig at the end of the month when it comes out and start mining GPU based coins (IE eth) With eth currently tanking, I wanna be mining eth while everyone jumps ship. At $4~5 if it bottoms out I will still be profiting a few hundred bucks a month after taking off my electricity for the build (1000w)
Don't do this. Just do not do this.
$300: I have a tax free savings account currently rated at 5% a year. Its small atm so I'd like to get a bit more of a rainy day fund in there.
Where is your 5% savings account? I want in on that deal. And you should put a lot more than $300 in here
$1,800: investing in AMD stock. I have high faith AMD has their shit together and Im expecting this to be a rock solid investment.
Don't do this either. If you want to put some in stocks, that's great. Start reading investopedia.com. Youll quickly realize why this is a bad idea
~$300: Fucking around with penny stocks with whatever is left. I am not expecting this last bit to be profitable, but I want to continue practicing my investing skills.
This isnt a bad idea. It's good to actively invest a portion of your money. It's fun and you can learn things about how markets move.

So...
$3000 on a car
$2000 in your 5% savings account (once again what the fuck bank is this?)
$300 to $500 actively trade
take the rest and start a hobby that could potentially become a business or side gig

CouchChiller
CouchChiller

@Sharpcharm

Putting all of your money into one stock is kinda risky as you're bearing all the risk

You might wanna spread out your investments a little to mitigate risk or put it on something that can either yield a large reward with the same risk like crypto

hairygrape
hairygrape

@CouchChiller

advocates low risk
advocates crypto in the same sentence

o i'm laffin

PackManBrainlure
PackManBrainlure

@King_Martha
5 years of work, countless hours of research, building and testing cards, trading,...
3k "profit".
You're still above inflation with that, though.

how do you feel...
No.

There's a reason it's referred to as "crack" among the MTG players.

Don't know how MTG world is nowadays, but back when I was playing, you had pump & dump, trading websites dropping prices of cards when they were out of stock and putting a high price on cards that they just didn't buy due to internal policies, etc.
That shit was smeared all over the players, and a good trader was basically the person who could screw others out of more cards.

TurtleCat
TurtleCat

you are in for a big dissapointment OP. MTG modern singles have outperformed the stock markets drastically in the past 7 years. Source: I am a part owner of a chain of retail game stores that specialize in magic and pokemon.

BlogWobbles
BlogWobbles

@hairygrape

I said spread out investments. I don't mean dumb 30% of your allocation into crypto I mean more like 3%, just enough to capture any large gains and small enough to not rape you

New_Cliche
New_Cliche

@TurtleCat
Im a local trader though, so without my own store, despite the fact the mtg market is awesome, I can't invest as hard.

You can buy 1000 stock in some company, then sell those stocks a few months later np.

But if I buy 1000 or even 100 or even 20+ of the same mtg card, I can't just sell them all at once, I have to sell them individual 1-4 at a time.

Which means without the buying/selling power of my own store, I am limitted.

Which is fine, the last 5 years of my life that 3k I made wasn't a goal or 'on purpose'

It was just a byproduct of me enjoying the game and making smart choices, and now I get that kickback from it.

Spazyfool
Spazyfool

@New_Cliche
Thats fine, im just tempering your expectations of the stock market behaving anything like the MTG singles market. Your "practice" wont be worth much in practical terms. Crypto is more similar.

Crazy_Nice
Crazy_Nice

@Spazyfool
Oh for sure! I would never contend that point!

Also I definitely typod. My TFSA is .5% not 5%. My bad.

MPmaster
MPmaster

@Sharpcharm

How To Be Poor: The Thread

Coming summer 2016

askme
askme

@LuckyDusty
1996 red Cavalier Converable
130k miles on it
Bought it for $900
6 years later 220k miles

All I did was take it in for oil changes and get the seal on the back window redone. Best investment i ever made. I ran that car hard and her little 2.2 engine gave me 28 mpg city. Just sold it for $700 and got a 2008 Ford Focus with 56,000 miles for $2250. I will go to my grave never having a stupid car payment.

Tldr suck a dick you wasteful lazy bitch

Spamalot
Spamalot

@askme
You can get a good car,, you can get a shit car.
Some people sell decent card for cheap, mostly because they don't know the value and want to get rid of it.
It's likely to get an un-drivable car in that price range, or a car that will need repairs every other week.
If you are buying that cheap, you better know about cars.
You better know at least a bit about what you're buying in general though.

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