MyNameIsLegion

THAT, was extremely helpful, thank you, but it does raise the philosophical question of "opportunity cost" in what an artist creates, as in the T-shirt example. Hell, just think of the carbon footprint of the art supplies and markers and inks and pencils and paper to even produce a piece of physical art. these sunk costs are not being passed on to consumers directly, because much of the energy and material cost (same thing, 1st and 2nd law of thermodynamics) is taken from the environment at large. We could make the same argument about raising a puppy. Is it ethical is it right, no matter how cute it is. But this article does speak to changes in the how this stuff works that would dramatically reduce and NFT's carbon footprint, it just seems like they need ot wait a year. Bu too many people will FOMO now and want to jump on board.

oh man, sorry I didn't mean to get you in trouble, and I didn't see anything you posted that was mod worthy but maybe I missed it. I figured you'd be amused ot see this development that probably 95% of hobbyist's that buy and sell are not aware of ....yet.

can someone explain how an NFT consumes this much energy? Comparable to what? Not existing? How does a single NFT do that? Just by being hosted, or the energy consumed in the act of creating and the energy consumed in selling it online? This seems suspect to me. How does that compare to posting on FB, sending a tweet, hosting and posting a page of comic art on CAF? Me sending this post? (don't' answer that! I anticipate the snarky remarks already! ) Seems like there some basic laws of physics being broken here. I'm not arguing with the idea that it has an environmental impact, but I want to know that in terms of other comparable digital entities. I know bitcoin mining used to consume processor speed back in the day, and that in theory consumed energy, and there were many programs that leeched unused processor speed to mine in the background, to it's true energy consumption is a little ethereal, because if that computer on the grid was on and doing something else regardless, then it wasn't using any MORE energy and you could argue there's so much unused or underused processing power and therefore energy that making more things with the same energy cost is more efficient. Also, depending on how it's hosted, there are server platforms that are carbon neutral, or near so, like the Apple server farms.

yes, and factor in sales tax it get's worse, but I'm not talking about, and neither is the OP the individual metrics of P&L but the market perception of value being manipulated that obscure the BP etc that goes into that price. You flip a book 3x through an auction house, 60%+ of the perceived FMV was entirely the BP. When the market is driven by auction sales, the FMV perception accelerates much more steeply.

how is this really any different than what happens with HA with every single auction? I sell a $3000 book through ha, it hammers at $3600 with juice. I only get $2550 from HA after their sellers fee. GPA says it sold for $3600, but I only made $2500. Oh, and the seller "bought" it will money they had in their HA account from something they consigned, so it wasn't really cash.

we need a relief emoji.

https://www.thetaxadviser.com/issues/2019/nov/taxation-collectibles.html https://www.gtreilly.com/blog/article/selling-that-original-warhol-prepare-for-tax-bite-on-your-collectible "By law, the maximum tax rate on the sales of collectibles (after netting of any losses) is 28% or the rate at which the gain would be taxed if it were ordinary income, if lower. When taxpayers have ordinary income, collectible gains, unrecaptured Sec. 1250 gains and other long-term capital gains, the order in which each category of income is applied matters. Ordinary income is taxed first, followed by gains subject to the 25% rate, followed by gains subject to the 28% rate, and then gains subject to the 0%/15%/20% rates. In some cases, the marginal tax rate on collectible gains can exceed 28% due to the alternative minimum tax (AMT) or the Sec. 199a qualified business income (QBI) deduction." I don't pretend to understand all of this, but it appears to me that portion of your income would be taxed differently depending on the source or that income. If that income is from collectibles, they can be taxed at $28%.

so, let's say you buy a slab, crack and press and resubmit: Say it was a $1000 9.4, cost to ship, insure press and resub cost? I dunno $100. That's $1100 COGs. You flip it for $1600. after auction fees etc maybe you clear $1360. Subtract your $1100 COGs, you net. $260. That's 24% ROI. People have done more work for less. Now the IRS takes 28% of that at the higher collectibles tax rate, so now you only made $213. So your ROI is now 19%. Was it worth the hassle and paperwork and time? Scale back that example to books with a $100 COGs with similar ROI. Your talking about netting under $20. Under $10 on a $50 items. I think that will dissuade many casual sellers on they realize their effort is mostly to break even. Maybe this takes out a lot of the flippers, which slows down the market. this may be eBay's last great year. But a lot of the sellers that are fully disclosing all their sales and track all their expenses, this may not impact you directly, but indirectly, you're sales in 2022 may take a hit once the casual hobbyist discovers that the liquidity and maximal profit potential has been harmed by these new reporting rules. These taxes were never factored into their purchases when collecting or speculating. No more flipping that 1st Carnage appearance you bought 5 of and figured you could flip for 2x or 3x down the road for quick cash free and clear. Maybe it's a boon for dealers in the sense that now collectors will want to sell to dealers directly, cash under the table, so you won't be competing with the a frothy auction market or BIN on eBay. My prediction is this will finally slow the market down, that everyone had been predicting for years but never came. The party's over. Many will find the idea of paying 28% in taxes as egregious. it's a disincentive to conduct business.

@greggy, how come you don't have any nice copies like Picky Collector?

@ChasingKingKirby- I've been where you are at- lost mom 9 years ago and my dad 6 weeks ago. For those 9 years everything in my parents house stayed the way it was when she died. Dad couldn't deal with it. Now that's he's gone my brother and I had to sift through and throw away 53 years of their life. Its been like losing mom all over again in the process, so you are doing the right thing to go through things now. Putting it off down the road when your dad is gone is a double whammy I wish on no one. also, you will be grateful to have him still here as you go through things, because he's there to ask questions and provide context to things you might not know. This is what my brother and I had to struggle with, and it sucks. Take care of yourself and your dad.

why would they want to reveal their max bid to Albert?

@vodou well here's the ticking bomb you've been warning about in the OA thread. (see first post) Time to switch to NFT's and Bitcoin.

Mike, "pimp" is a poor choice of words, and so I apologize - I was kidding anyway but not meant to be a criticism or a dig. Nobody's going to rush to obscure GA art as an investment opportunity in the the OA hobby. If they do, they're crazy.

also, I can buy a really nice vintage 90's pinball machine for the cost of one decent bronze Marvel panel page. I got 2 pins last year. Terminator 2, and Judge Dredd. I get a heck of a lot more use out of those. They take up space, require maintenance, etc. but it's more pragmatic than collecting cars, and they too have shot up in the last few years and are readily bought, sold and traded. I could see getting a couple more.

in 2020, due in part to the pandemic, and other situations, my sale to acquisition ratio was this: 12:5. So far this year. 1:3. I turned 50 late last year. The cost of art I like has reached a point that is not sustainable in terms of future gains, if not possible losses as the boomers exit and us Gen-Xers are slowing down and I suspect will not be able to absorb it all, and much of it we won't even care about (strip art, westerns, funny books, pulps, most GA no matter how much Mike Finn pimps it, he can have it, but there are large caches of the aforementioned art that haven't seen the light of day in decades) Most of my collection was acquired pre-2010, so my acquisition costs are relatively low. so unless I trade on that value for modern priced things, I can shift the mix, trade up, but realistically my collection peaked 3-4 years ago, and we are in the plateau. I may have a few surprises left in me, but they won't shift the needle that dramatically in relation to the size of the collection, just broaden the mix a bit more.

oh you mean this? Yeah. I'm inclined ot agree. Had this almost 20 years.

I'd like some clarity on the technology of the NFT relative to the digital image & hosting, from someone that actually knows, (no offense, but @vodou & @hmendryk I suspect both of you are mostly talking out of your bung holes on that aspect and neither of you are SMEs in that arena) Where is the encrypted NFT held, and is it inextricably linked to the digital image, or is it an attribute of the NFT? You can have encrypted files that exist regardless of web hosting, and you can have encrypted hosting of files, and both. Moving ISPs, domains, etc is fairly common practice, but doing so is necessarily creating copies of encrypted files, or moving files that will be encrypted. I suspect it is both. Most data centers have active back-up, redundancy, and recovery so there's multiple copies of it in the cloud, cluster, of virtual or physical servers. It's damn hard to genuinely lose something due to hosting. Losing your password, yeah that's a thing. If the file is encrypted, nobody (in theory) can open it without it. I'm guessing the art is bundled with the token and is unique. Copying the art, does that copy the token with it? Or is it linked back to the token hosted elsewhere, or nowhere? I'm just curious enough to ask the question, but not quite curious enough to google this stuff myself.

I mostly collect published art. That stamp from Marvel or DC is all the authentication I want or need. I don't give a flying monkey what some self appointed dealer, artist, rep or estate wants to "authenticate" If they think this silly NFT stuff can be used to de-value or delegitimize other people's art, they are in for a RUDE awakening.

how the hell are they gonna do that? Possession is 9/10s of the law. If I have the art in my possession, whether the artist is alive or dead, nobody should be trying to make NFT's off my art. I'll just be taking my CAF down now.

yeah, I'm curious, what app, blog, youtube channel, FB groups is driving a lot of this speculation? Wha't is the Wizard Magazine of this era?

@THB Maybe this would be up your alley- and I can vouch for Ed.

I've never seen this book????? I thought I'd seen just about all the Warren mags. What's this one have? Any good?

yeah, your'e not the only one to think that, details are scarce, but here's some more info: https://screenrant.com/ant-man-3-quantumania-kang-quantum-realm-mcu/