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

424 posts in this topic

DWL

DWL

Posted
Posted
No, but you...you...you're thinking of this site all wrong.

As if I had the money back in a safe.

The, the money's not here.

Well, your money's in Joe's copy of Avenger's 7 Annual CGC 9.8 house...

that's right next to your copy of NM98.

And in the Kennedy copy of Ninjak, and Mrs. Macklin's

Iron Man 55, and, and a hundred others.

Why, you're lending them the money to build a collection,

and then, they're going to pay it

back to you as best they can.

 

Every time someone invests, a puppy gets its wings!

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01TheDude

01TheDude

Posted
Posted
No, but you...you...you're thinking of this site all wrong.

As if I had the money back in a safe.

The, the money's not here.

Well, your money's in Joe's copy of Avenger's 7 Annual CGC 9.8 house...

that's right next to your copy of NM98.

And in the Kennedy copy of Ninjak, and Mrs. Macklin's

Iron Man 55, and, and a hundred others.

Why, you're lending them the money to build a collection,

and then, they're going to pay it

back to you as best they can.

 

Every time someone invests, a puppy gets its wings!

 

sure-- but can they fly?

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JTBGOOD-migration

JTBGOOD-migration

Posted
Posted

 

 

 

 

but if you do not show actual asset value - then ????

 

GPA= based on actual sales. CPG = based on something that they do not disclose and are very cryptic about describing - and from a CGC standpoint - are totally invalidated by the actual sales.

 

Hint - if you get a bunch of people to buy in based on the stated asset value listed on your website - which you have admitted here has an incorrect value after people pointed out one of your cost justifications was based on a SIGNATURE SERIES books.......

 

just hope you looked into the legal issues - I would actyally REALLY question any comics book store trying to say book a is worth XXX based on CPG.,,,, not even as part of a call for people to invest......

 

 

 

Oh, I see what you are saying. Yes, that is a good point, but I just don't completely agree.

 

And I never "admitted" that I based anything regarding "cost justifications" based on SS books. I just said that I apologized for too quickly looking up an EBay sale. I have been very busy and I just stopped on the first one I saw. But, that has nothing to do with what's on my website.

 

Anyway, Avengers Annual #7 is irrelevant in that I wanted to pick some book to begin and that seemed like a fun, relatively easily obtainable comic. But, more importantly, the coin isn't even released yet, so its value means nothing. Had I known it was going to cause such an uproar (well, an uproar here), I would never have picked it. Look, I saw the auction that is being referred to an it was a "bad" one in that it was out of the norm. Now, maybe future sales will be closer to that price in the future, but I doubt it. GPA has flaws too.

 

And, its biggest flaw is its volatility. When there are comics that are relatively rare (or at least in certain grades) one sale can change the "average" price dramatically. I realize that in your view (and most others here), that last sale is the most important data point -- and it can be!. But, a strong argument can be made that in rarer comics that may only have a few sales a year, the last data point is not that relevant to how much the next guy can get for his copy in the same grade. We all know that is true. It is the nature of the game including at auctions. Comics price guide can be off, but they do lower and raise prices to reflect current conditions. And furthermore, they are very close to GPA on most comics -- I know because I looked.

 

Finally, and most importantly, we will change from Comics Price Guide if they prove to be too optimistic. No one is trying to fool anyone here. The comics are going to be listed as acquired and displayed at a comic book shop open to the public. Getting the most accurate prices is in the best interest of everyone including CBC.

 

 

am I the only one who is confused?

 

 

 

 

Actually the last real world sale was $410 for one grade below the one we own just a couple of weeks ago on EBay. We have confidence in Comics Price Guide, but they do lag sometimes in particular hot and cold books. But, that is not the reason we chose them.

 

 

the book that sold on ebay - was a signature series book.

 

You quoted this as fact - to justify the valuation that you listed on the web site - and as a reference for justifying CPG as a price reference.

 

All the talk of backing this phantom security with assets - and paying dividends - again, might want to check with a lawyer. Seems like you are offering stock in a company and not filing with the SEC. Either that - or you are creating your own currently WITH ASSET BASED BACKING - that may or may not have real issues with the initial quoted values of said assets.

 

You can use the whole "comic books pricing is volatile" excuse all you want- but when proven wrong quite directly about the valuation on on the initial "comic" ........... you have documented issues that may cause you legal issues.

 

 

I suppose you will do ok here - as long as you promise not to decoupage.

 

 

 

Good Morning all!

 

OK, I am not going to argue with you. I was talking to you guys in a forum, I took a quick look on EBay, misread a price, and apologized as soon as I saw that I was wrong. I never put that on the website, I never claimed that was the "correct" price of CBC's comic book and I never tried claim the Comics price Guide was "correct". There is no "correct" number. These are lightly traded items -- auctions and prices can be wildly volatile.

 

Further, as I stated again and again, the price of that one comic book is irrelevant as the coin isn't even out yet. And "quoted values" are not important except as a guide. The only price that counts is what one can get when they actually want to sell. One can value the comic books in any fashion they want to. I have covered the issues with GPA that are most concerning regarding CBC, but again, one is free to use it.

 

This is clearly not a stock, but there are similarities. It is structured much more like an art foundation, but whatever. If you have seen the website, there are clear warnings about the risks of crypto. Included in that is the fact that CBC will be complying, in full, with any future regulation of the crypto markets. If we, in the future need to register with some government agency, for example. we will immediately. Of course, I have discussed this with a lawyer, but one doesn't need a lawyer to see similar coins that have been out for a long, long time with similar structures. Crypto is in its infancy and changes will be coming in all likelihood. But, it is the scammers who need to be concerned with that, for the most part. All of the other cryptos will just simply have to comply with whatever comes down the pike.

 

CBC, or any crypto currency, is not meant for one's life savings or anything close. This is supposed to be fun, guys, not a financial planning session. Yes, a lot of money has been, and will be made from crypto, but one has to be careful. Please read the website and all of the warnings. They are printed in full on the Home page as well as the "How To Buy" page.

 

I have stated this many times, but let me end with it. It is in the best interests of everyone, including CBC, to have good guide prices to give the best guess (and that is all it is on lightly traded comics -- and you know it) on its comic books. If we find that GPA and Comics Price Guide are just too far apart, we will adjust. But, the comic books themselves will be listed and displayed publically as acquired. One can judge for themselves what the collection (or the coin) should be worth.

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JTBGOOD-migration

JTBGOOD-migration

Posted
Posted
I have a question..

If someone was to "invest" say $1K, and in 6 months or a year, they decided to get out. Do they just sell the coin(s) back to you? Would they break even, make, or lose money? Or would they have to wait until you sell some books before getting their money? Possibly taking a loss in the sale of the books.

 

Ok, no. I see what you mean, but it is not like that. There will be a market for the coins, separate from the comic books. Take a look at Bitcoin. (I use this as an example because it is the most famous of all cryptos). There is a market for the coins (they are trading at about $230 as I write this). If you wanted to buy them at that approximate price, you can and if you then want to sell them, you can do that also.

 

There will also be a market for Comic Book Coins (despite what a few people here say :D). To sell your theoretical purchase, you would have to go to the market and see what people are offering for your coins.

 

Now, in addition to that, there will be comic books purchased by CBC. They will have some value (the exact nature of which is, for some reason, a big topic on this forum) and that collection can be sold either in part or as a whole some day. Those sales can be used for basically three things: buying more comic books, paying some sort of "dividend" or buying back coins.

 

The buybacks would be done in cases where the coin is trading below the actual value (or approximate value as we have discussed ad nauseam) of the comic books themselves.

 

In short, the assets backing up the coin (in this case comic books) are really a backstop more than any trading price. The coin will trade wherever the market says it should trade. However, unlike most coins there are assets behind CBC, so it is unlikely to be quite as volatile as some cryptos. Which gets us back to your question.

 

In addition to those other three actions above, Comic Book Coin could naturally sell the collection, divide the proceeds among the coin holders and wrap up. In that scenario, yes, it would very much be like your question. But, on a day to day basis, no -- one would trade the coins on an exchange and take a look at the market value at that particular time.

 

I hope that answers your question properly!

 

Thanks.

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zuulioso

zuulioso

Posted
Posted

Ok, no. I see what you mean, but it is not like that. There will be a market for the coins, separate from the comic books. Take a look at Bitcoin. (I use this as an example because it is the most famous of all cryptos). There is a market for the coins (they are trading at about $230 as I write this). If you wanted to buy them at that approximate price, you can and if you then want to sell them, you can do that also.

 

There will also be a market for Comic Book Coins (despite what a few people here say :D). To sell your theoretical purchase, you would have to go to the market and see what people are offering for your coins.

 

(shrug)

 

Can you provide a link to the market so we can view trading activity?

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BarryAllen

BarryAllen

Posted
Posted

 

 

 

 

but if you do not show actual asset value - then ????

 

GPA= based on actual sales. CPG = based on something that they do not disclose and are very cryptic about describing - and from a CGC standpoint - are totally invalidated by the actual sales.

 

Hint - if you get a bunch of people to buy in based on the stated asset value listed on your website - which you have admitted here has an incorrect value after people pointed out one of your cost justifications was based on a SIGNATURE SERIES books.......

 

just hope you looked into the legal issues - I would actyally REALLY question any comics book store trying to say book a is worth XXX based on CPG.,,,, not even as part of a call for people to invest......

 

 

 

Oh, I see what you are saying. Yes, that is a good point, but I just don't completely agree.

 

And I never "admitted" that I based anything regarding "cost justifications" based on SS books. I just said that I apologized for too quickly looking up an EBay sale. I have been very busy and I just stopped on the first one I saw. But, that has nothing to do with what's on my website.

 

Anyway, Avengers Annual #7 is irrelevant in that I wanted to pick some book to begin and that seemed like a fun, relatively easily obtainable comic. But, more importantly, the coin isn't even released yet, so its value means nothing. Had I known it was going to cause such an uproar (well, an uproar here), I would never have picked it. Look, I saw the auction that is being referred to an it was a "bad" one in that it was out of the norm. Now, maybe future sales will be closer to that price in the future, but I doubt it. GPA has flaws too.

 

And, its biggest flaw is its volatility. When there are comics that are relatively rare (or at least in certain grades) one sale can change the "average" price dramatically. I realize that in your view (and most others here), that last sale is the most important data point -- and it can be!. But, a strong argument can be made that in rarer comics that may only have a few sales a year, the last data point is not that relevant to how much the next guy can get for his copy in the same grade. We all know that is true. It is the nature of the game including at auctions. Comics price guide can be off, but they do lower and raise prices to reflect current conditions. And furthermore, they are very close to GPA on most comics -- I know because I looked.

 

Finally, and most importantly, we will change from Comics Price Guide if they prove to be too optimistic. No one is trying to fool anyone here. The comics are going to be listed as acquired and displayed at a comic book shop open to the public. Getting the most accurate prices is in the best interest of everyone including CBC.

 

 

am I the only one who is confused?

 

 

 

 

Actually the last real world sale was $410 for one grade below the one we own just a couple of weeks ago on EBay. We have confidence in Comics Price Guide, but they do lag sometimes in particular hot and cold books. But, that is not the reason we chose them.

 

 

the book that sold on ebay - was a signature series book.

 

You quoted this as fact - to justify the valuation that you listed on the web site - and as a reference for justifying CPG as a price reference.

 

All the talk of backing this phantom security with assets - and paying dividends - again, might want to check with a lawyer. Seems like you are offering stock in a company and not filing with the SEC. Either that - or you are creating your own currently WITH ASSET BASED BACKING - that may or may not have real issues with the initial quoted values of said assets.

 

You can use the whole "comic books pricing is volatile" excuse all you want- but when proven wrong quite directly about the valuation on on the initial "comic" ........... you have documented issues that may cause you legal issues.

 

 

I suppose you will do ok here - as long as you promise not to decoupage.

 

 

 

Good Morning all!

 

OK, I am not going to argue with you. I was talking to you guys in a forum, I took a quick look on EBay, misread a price, and apologized as soon as I saw that I was wrong. I never put that on the website, I never claimed that was the "correct" price of CBC's comic book and I never tried claim the Comics price Guide was "correct". There is no "correct" number. These are lightly traded items -- auctions and prices can be wildly volatile.

 

Further, as I stated again and again, the price of that one comic book is irrelevant as the coin isn't even out yet. And "quoted values" are not important except as a guide. The only price that counts is what one can get when they actually want to sell. One can value the comic books in any fashion they want to. I have covered the issues with GPA that are most concerning regarding CBC, but again, one is free to use it.

 

This is clearly not a stock, but there are similarities. It is structured much more like an art foundation, but whatever. If you have seen the website, there are clear warnings about the risks of crypto. Included in that is the fact that CBC will be complying, in full, with any future regulation of the crypto markets. If we, in the future need to register with some government agency, for example. we will immediately. Of course, I have discussed this with a lawyer, but one doesn't need a lawyer to see similar coins that have been out for a long, long time with similar structures. Crypto is in its infancy and changes will be coming in all likelihood. But, it is the scammers who need to be concerned with that, for the most part. All of the other cryptos will just simply have to comply with whatever comes down the pike.

 

CBC, or any crypto currency, is not meant for one's life savings or anything close. This is supposed to be fun, guys, not a financial planning session. Yes, a lot of money has been, and will be made from crypto, but one has to be careful. Please read the website and all of the warnings. They are printed in full on the Home page as well as the "How To Buy" page.

 

I have stated this many times, but let me end with it. It is in the best interests of everyone, including CBC, to have good guide prices to give the best guess (and that is all it is on lightly traded comics -- and you know it) on its comic books. If we find that GPA and Comics Price Guide are just too far apart, we will adjust. But, the comic books themselves will be listed and displayed publically as acquired. One can judge for themselves what the collection (or the coin) should be worth.

 

Sure no problem, I give you tons of money so you can collect comics and I assume all the risk. But hey, not big deal, I read the risk on some cruddy website that my 9 year old nephew could do a better job designing, so I have been warned. Forget anything about honest business practices, reliable investment options or just plain human decency. No real business plan, no problem! No real system or rules in place to protect investors, no problem! No real idea what you are doing, no problem!

 

Sign me up, take my money, let it ride - all because it is fun! Yep, anything in the name of fun!

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BarryAllen

BarryAllen

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.

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JTBGOOD-migration

JTBGOOD-migration

Posted
Posted
So with all the research you've done on not only creating this coin and developing the website, the best book you can come up with is Avengers Annual #7 as your initial offering. How long did it take to come up with this idea? Seems kind of half assed.

 

It was chosen as more of a gesture than anything else. It's the Avengers, Joss Whedon has mentioned it as one of his favorites and it's a high grade. CBC is meant to attract casual fans as well, and nearly everyone on the planet knows the Avengers.

 

And it provided an easy way to explain graded versus non-graded comic books to the non-collector. If you look on the website you will see that I use it almost as an educational tool for newbies.

 

Of course we are aware that the comic is not rare (and say so on the site). We are also aware that it is hardly a huge key book for collectors. However, and I know I will get disagreement on this, we do feel that the comic book will increase in value over the next few years (in that high grade) and we are happy with it.

 

However, once the coin is launched, that will probably not be indicative of the comic books we are seeking. First of all, most will probably be earlier than that one (1977) and far earlier is likely.

 

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BarryAllen

BarryAllen

Posted
Posted
So with all the research you've done on not only creating this coin and developing the website, the best book you can come up with is Avengers Annual #7 as your initial offering. How long did it take to come up with this idea? Seems kind of half assed.

 

It was chosen as more of a gesture than anything else. It's the Avengers, Joss Whedon has mentioned it as one of his favorites and it's a high grade. CBC is meant to attract casual fans as well, and nearly everyone on the planet knows the Avengers.

 

And it provided an easy way to explain graded versus non-graded comic books to the non-collector. If you look on the website you will see that I use it almost as an educational tool for newbies.

 

Of course we are aware that the comic is not rare (and say so on the site). We are also aware that it is hardly a huge key book for collectors. However, and I know I will get disagreement on this, we do feel that the comic book will increase in value over the next few years (in that high grade) and we are happy with it.

 

However, once the coin is launched, that will probably not be indicative of the comic books we are seeking. First of all, most will probably be earlier than that one (1977) and far earlier is likely.

 

It is pretty clear you have no idea what you are talking about or doing. Your presented knowledge of comics is laughable and your description and indicated use of cryptocoins is absurd.

 

Please go back to where you came from and try very hard to think about what you are going to say before you ever leave your home again.

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JTBGOOD-migration

JTBGOOD-migration

Posted
Posted

Ok, no. I see what you mean, but it is not like that. There will be a market for the coins, separate from the comic books. Take a look at Bitcoin. (I use this as an example because it is the most famous of all cryptos). There is a market for the coins (they are trading at about $230 as I write this). If you wanted to buy them at that approximate price, you can and if you then want to sell them, you can do that also.

 

There will also be a market for Comic Book Coins (despite what a few people here say :D). To sell your theoretical purchase, you would have to go to the market and see what people are offering for your coins.

 

(shrug)

 

Can you provide a link to the market so we can view trading activity?

 

Sure. Well, I can't give you a link to CBC trading, of course, because it is not open until tomorrow.

 

But, we will be trading initially on the Ripple exchange only, although we are going to add other exchanges after that.

 

To actually do any trading one must have a Ripple wallet. (A wallet is a term used in the crypto world to describe where one keeps their coins).

 

As you might expect, CBC has step-by-step instructions for that here:

 

http://www.comicbookcoin.com/how-to-buy-cbc/

 

However, there is also Ripple's home page that has a lot of information on that and many other things here:

 

https://ripple.com/

 

In addition there is a site that gives the latest prices of Ripple versus the Dollar, Yuan, BTC, etc. here:

 

http://www.ripplecharts.com/#/

 

And many more as well. But, hopefully those will cover your question.

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BarryAllen

BarryAllen

Posted
Posted

Ok, no. I see what you mean, but it is not like that. There will be a market for the coins, separate from the comic books. Take a look at Bitcoin. (I use this as an example because it is the most famous of all cryptos). There is a market for the coins (they are trading at about $230 as I write this). If you wanted to buy them at that approximate price, you can and if you then want to sell them, you can do that also.

 

There will also be a market for Comic Book Coins (despite what a few people here say :D). To sell your theoretical purchase, you would have to go to the market and see what people are offering for your coins.

 

(shrug)

 

Can you provide a link to the market so we can view trading activity?

 

Sure. Well, I can't give you a link to CBC trading, of course, because it is not open until tomorrow.

 

But, we will be trading initially on the Ripple exchange only, although we are going to add other exchanges after that.

 

To actually do any trading one must have a Ripple wallet. (A wallet is a term used in the crypto world to describe where one keeps their coins).

 

As you might expect, CBC has step-by-step instructions for that here:

 

http://www.comicbookcoin.com/how-to-buy-cbc/

 

However, there is also Ripple's home page that has a lot of information on that and many other things here:

 

https://ripple.com/

 

In addition there is a site that gives the latest prices of Ripple versus the Dollar, Yuan, BTC, etc. here:

 

http://www.ripplecharts.com/#/

 

And many more as well. But, hopefully those will cover your question.

 

Seriously, all you are doing is using Bitcoin as your example and then putting up various links on cryptocoin sites. A 12 year old could make this business pitch the way you are doing it (with a website designed by a 9 year old).

 

I don't know what is sadder: that you think people will invest or that you think this is a good idea.

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