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Comic Book Coin is Coming!
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Started by Tonic's Comics,

424 posts in this topic

comix4fun

comix4fun

Posted
Posted
A show of hands of anyone interested in this (shrug)

dontwantbee.gif

 

 

Ok so that's one finger up from Bedrock.....anyone else?

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Pirate

Pirate

Posted
Posted
A show of hands of anyone interested in this (shrug)

dontwantbee.gif

 

 

Ok so that's one finger up from Bedrock.....anyone else?

 

I liked it better when you were on sabbatical.

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CKB

CKB

Posted
Posted
We have confidence in Comics Price Guide,

 

And that's really all anyone needs to know. Wow. Good luck fleecing (and I man that in the nicest, professional, cordial context possible) others.

 

 

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paul747

paul747

Posted
Posted
OK, I can see we are getting nowhere, so I will leave you all for a while. But this does not make any sense. Everything you described applies to every coin ever issued. The only difference is that some coins just make promises of future value due to their programming skills or marketing, etc. But, one is essentially buying a share of their services company (to use an investment word again).

 

No, everything I described applies to every investment fund ever launched. Most coins aren't backed by anything, don't distribute any income/dividends, don't engage in buybacks, etc. You are actively managing an investment fund - this is simply not a coin or a currency or a cryptocurrency. It is an investment fund that is skirting the regulations regarding such by superficially co-opting several aspects of cryptocurrencies. All the arguments defending your position rely on arguments that defend cryptocurrencies. But, this isn't a cryptocurrency, no matter how much you want it to have that cachet. :makepoint:

 

Same concept as the US Dollar... print what you need. Man we are in a comic Bubble when this Kinda is Being started.

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JTBGOOD-migration

JTBGOOD-migration

Posted
Posted

Hello all -- I'm back.

 

First let me say that I appreciate a few of you who have said kind things about me in the last few pages. Even a small thing like he's wrong, but he seems like he would be good forum member (I'm paraphrasing) was like a fresh cool breeze on a summer's day -- because you guys on this forum have put me through he wringer! :D

 

--- First let me address the regulation issue one more time and then I am going to drop it. There are coins worth millions of dollars right now, as we speak, that are using this exact structure and have for years. One coin alone is worth nearly $3 million. Those of you familiar with the crypto world know that I am telling the truth. I have just copied that formula using comic books.

 

--- A number of you seem particularly concerned about the tax consequences of a possible dividend that may occur in two years or so. Yes, it would be considered a taxable event as would selling your coins for a profit as would selling any comic books you personally own for a profit. In fact, selling anything for a profit is a taxable event (almost). Of course your individual circumstances, including your tax bracket has to be considered as well.

 

--- Let me step back for one second and reiterate that I didn't come here to promote the coin. Tonic's Comics made an announcement that he was displaying the comic books and that was about it. This was just a day ago or so, with the coin releasing tomorrow. I made most of my announcements (at various places) last week so to give people a heads up early. The reason I bring this up is that there appears to be a misunderstanding. Comic Book Coin is really geared to a large degree toward crypto fans who are also comic book fans. It is purposefully something different and yes, fun. Many of you are lifelong collectors with very valuable comic book collections and it is unfathomable to you that anyone would let someone else collect comics for them. That is completely understandable. It would be wonderful to have some of you, with your knowledge and experience, become part of the CBC community. And I hope some of you will try it out. We sure would love to have you. But, it is also understandable if some of you don't want to participate.

 

---Please keep in mind that something like this will require time. This type of coin requires action, not talk. CBC will either do what they say they are going to do or they will not. It will become very clear, very early whether or not CBC plans on carrying out their goals. Either comic books will be purchased and displayed or they will not. Well, you get the idea.

 

---Finally, let me address what may puzzle me the most about your comments. As an aside, and you may find this interesting, I have talked with many people, in person, forums, emails etc over this last week or so and not one -- not one -- has ever asked me about Comics Price Guides accuracy versus GPA. Nor have they expressed their concern over Avengers Annual #7 as you guys have. So, let me see if I can explain myself in a better fashion as it clearly sticks in many people's craw.

 

---We believe that 9.8 graded Avengers Annual #7 is going to go up in value over the next few years, by quite a bit. However, this book was purchased as more of a gesture than anything. It's a fairly common comic, even in that grade. But, as the coin wasn't out yet, it seemed like a nice comic to get started with. It featured both The Avengers and Thanos, both extremely well known entities thanks to the movies. Plus, it would allow us to use that comic to illustrate to newbies both the grading system and the CGC system of enclosing books. That comic book was added before there were any coins released, so its value should not matter, but more on that in a moment. However, is it CBC's goal to collect relatively new comic books that are also relatively common? No, it is not, but it is a good book that we believe is going to rise in value in that grade. Hopefully, the CBC collection will get progressively rarer and more valuable as time goes on. But, the bottom line is profit. We are going to look for comic books that we think will make CBC money. Their age and rarity will play into that, naturally, but that is not always what goes up in value at any moment in time. So, while that comic book may not reflect the future collection, it does not preclude CBC from choosing similar books, if they have good profit potential.

 

---I think I have figured out why you guys are so concerned with using Comics Price Guide to "value" comic books rather than GPA. If I get your comments correctly, you think that Comics Price Guide is not just garbage, but that it always overinflates the price. Therefore, if we use them as a gauge on the website, it would mislead new people regarding the value of the collection. So, in your view a say, $10,000 collection as valued by Comics Price Guide would only really be worth say, $8,000 by GPA standards (to use random numbers). I am not sure you are correct, but I could be persuaded. I looked up quite a few (I don't know, 15 or 20 or so) before I even wrote that on the website and I found them more alike than I expected. But again, and for the thousandth time (exaggeration), if Comics Price Guide proves inadequate, then we will switch. Hey, maybe we will just use both and let everyone decide for themselves.

 

--- I hope that answers the bulk of the topics on the forum. I realize that I will not be able to convince some of you on nearly anything regarding the coin, But, for those of you who are interested, thanks for reading along.

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dupont2005

dupont2005

Posted
Posted
Hey, maybe we will just use both and let everyone decide for themselves.

Decide what, exactly? The value of their investment? I always figured when you have an investment fund the actual real world value of your share is always available. A real world amount that can be cashed out. Do you have that? Or is it "You gave me fifty dollars, here's some comics, decide for yourself what they're worth. And no, your assets cannot be liquidated. Thanks."

 

 

I'll stick with Acorns

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slym2none

slym2none

Posted
Posted
Tell us a little bit about yourself

How old are you?

How long have you been collecting comic books?

What is your educational/employment background?

 

 

fortuneteller_600x496.jpg

 

Younger than 35 (most likely late 20's).

 

Will claim for >15 years, but realistically has not been seriously collecting at all (doesn't own a book worth over $20).

 

State college, job jumper and unhappy with the corporate world not bowing down to his genius by making him CEO in the first 10 months of employment at each job.

 

Ha! that's it -- you got me! :D

 

Can you answer the questions, please? I doubt it will help your case any, but at least we'd know.

 

 

 

-slym

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slym2none

slym2none

Posted
Posted
I see that you have answered questions, so why not answer this one:

 

Tell us a little bit about yourself

How old are you?

How long have you been collecting comic books?

How long have you had experience with altcoins?

What is your educational/employment background?

 

 

Italic is my add

 

 

 

--- That is a bit of an exaggeration as there are over 500 trading right now and nearly 30 of them are valued at over a million dollars. So, that is more than a handful. But, your point is a solid one, in that the crypto market is crazy (and risky!) and some have failed. But, as far as I know, none that are asset-based coins have failed.

 

--- I don't understand your comment regarding the value of coins. You claim I am being deceitful because the comic books will have no bearing on the value. You say: "Any altcoin is based on pure faith in its ability for utilization." That is only partially true. For example, let's say Comic Book Coin opens tomorrow and it raises $5,000. CBC goes out and purchases comic books. Now, let's say somewhere down the road CBC begins to fall and fall and fall. Well, someone is eventually going to buy those coins because they can get (their share) of approximately $5,000 in comic books. If one can buy every single coin for $100, they will. And really if something like that happens, it would probably be best to just sell off the comics at that point, distribute the cash to the coin holders and wrap the coin up. However, I doubt highly that it will happen that way.

 

--- On this point, I am again a bit stumped. There are no second or third parties involved. Yes, it would be nice (and is a goal) to get people to accept the coin directly, but for now it will trade for Ripple, which can be converted to any currency you prefer.

 

--- Dividends is a stock term, but not solely. Crypto has a habit of using investment terms for a lot of their activities. It is most definitely not illegal and furthermore happens every day in the crypto world. I (not CBC) own a few coins in a crypto right now that pays monthly dividends. However, as stated, dividends are a longer term goal and you are right if you are suggesting that future regulation could make dividends more complex. But, they most certainly will not be illegal.

 

--- Ha! I wish was a teenager, but alas, I am light-years from that. I don't want to get into my personal stuff, but I am old, I know a lot about crypto and comics, despite what you might think. But, none of that is important and I will tell you why. In the crypto world (and here too), my background could be identical to Mother Theresa's and I wouldn't be trusted by the community(s) until I put up or shut up. And that is the way it should be. But, I can say no one from the comic book circles will know me as I have been essentially away from it for many years. And even when I was a serious collector (well, what I consider serious), I did not really go to all of the conventions and signings etc.

 

So, as I stated earlier, you guys would (and clearly do) consider me an amateur or casual collector. And from your perspective it is absolutely true. Now, if you ask my circle of friends, they will say I know more about comics than nearly anyone they know, but that doesn't mean anything to you, nor should it. Either I perform for coin holders or I don't. Only time will tell that. But, I am not hiding. Come down and visit your comics at the comic shop and you may very well run into me. But , the internet is a strange place and I certainly don't want people lurking around at my house or anything.

 

Look, CBC is not for everyone and it is not meant to be. It is perfectly understandable if you are not interested. It should be a fun coin, not a coin for one's life savings.

 

We have no control over who buys the coin, of course, but over time, we are hoping for a fun community who loves crypto and comics -- hopefully they combine for a profitable journey!

 

 

So, you refuse to answer those questions.

 

tumblr_inline_ndrbr8SXbc1r32r7g.gif

 

 

 

-slym

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slym2none

slym2none

Posted
Posted
When you are trying to get people to give you money, you will always be as smooth a talker as possible and have an answer for everything.

 

Well there is that, but I was expecting more of a meltdown.

 

I still have a few hours left before I find out of my prediction of this being the Wednesday "Friday" thread come true...

 

:popcorn:

 

 

 

-slym

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paul747

paul747

Posted
Posted

I nominate Comic coins for HOS ! Not the OP he is alright and cool under pressure. Seriously man All of these guys are comic Guys, why would they need to buy into a program like this you need to hit up some other site. 9 out of ten here can probably get books cheaper than you especially if E-bay is your choice site. Way to many issues and to base a currency or value off of an up and down collectable that's in a Bubble (depending) is INSANE ! Good Luck you do seem nice. Go charm some old ladies you might get farther.

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Gatsby77

Gatsby77

Posted
Posted

Ahem,

 

See the discussion of the now-defunct comicshares.com (albeit minus the Crypto overlay) here:

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=3874807&fpart=1

 

In particular, G.A.tor's comment on page 3:

 

the general concept is sound....

say for instance, that in 2008 you and 6 buddies got together and each ponied up 10K towards a nice restored action 1 (maybe the 68K copy from heritage)... 2 years later, that book would easily sell for $100K.... so, your 10K "investment" has a real world value of $14K+....a 40% return in 2 years... not bad...

 

Another pearl of wisdom:

 

if run by the "right" folks, then the concept is sound.... obviously, from viewing this site, these are not the "right" folks

 

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