Gala Token Price Exploding

[Seoulite]

Sorry for talking about prices so much, but there is literally nothing else to talk about so here we are. Noticed that the GALA token price has shot up. I don't own any, but I did consider buying some back when I first learned about them joining Flare. Hindsight etc etc. Anyway this development adds a little more confidence to my beliefs that:

a) you buy basically any token early enough and you can make some decent cash, this is why I have been stocking up on Flare and will buy Songbird when it comes out

b) Flare is more likely to be successful if one of the flagship tokens/projects in the ecosystem is doing this well

c) The GALA chart looks more or less what a good alt chart should look like. And in the end I am expecting the Flare chart to look pretty similar to this: initial run up (around Mar 2021) followed by extended correction (ending July) followed by moon.

Congrats to all Gala holders and the Gala team. You've made good products that people enjoy and that people want to play. I can't wait for you to be up and running on flare and minting your NFTs for a fraction of the cost you are spending on Ethereum.

 

 

[Guest]

44 minutes ago, Seoulite said:

a) you buy basically any token early enough and you can make some decent cash, this is why I have been stocking up on Flare and will buy Songbird when it comes out

Congratulations to everyone. 

A word of caution - the way to differentiate a bubble is when speculation is indiscriminate. Your words around “buy basically any token early enough” reminded me of that. 

If that is the reality (and that may well be), my advice would be to be more careful about a bad dump. Of course the bubble itself is being fed by Fiat printing across the world and there is no way of knowing when this is going to stop. Could be months, or years.

Note: I’ve no opinion on Gala, but I hope they do well. Meta verse is going to be huge. They got their market right. I’m biased in favour of Flare.

[Seoulite]

2 hours ago, Ripley said:

A word of caution - the way to differentiate a bubble is when speculation is indiscriminate. Your words around “buy basically any token early enough” reminded me of that. 

 

I agree. The point was not just buy anything, but more “if you hear very early about a project you like then buying it is likely to make you money in the long run” Naturally you have to sell at a good time.

But is there a crypto that if you bought it within the first six months of trading that you would’ve lose money? I can’t imagine there are many, out of the thousands we have.

 

 

[brianwalden]

4 hours ago, Seoulite said:

I don't own any, but I did consider buying some back when I first learned about them joining Flare.

I think @CountZerpula was using this strategy, filling up on coins that were coming to Flare. I know he specifically mentioned buying GALA.

1 hour ago, Seoulite said:

Naturally you have to sell at a good time.

You say this like it's so easy (as I glance over at my XRP bags with 7 years of dust on them).

1 hour ago, Seoulite said:

But is there a crypto that if you bought it within the first six months of trading that you would’ve lose money?

Internet Computer. Yeah I know, I know, it's too early to tell. I hadn't heard of them before launch, but apparently they had a big following of people who were eagerly awaiting launch. Flare is in a similar position. Could the large amount of hype cause the price to debut really high and then crash down to where a point where it could take years to get back to that high? And you're talking more about buying that big long sideways phase after initial release but before the project goes big, anyway.

Last month I got absolutely rekt trying to get into a failed token launch. After that experience, I'm staying out of launches. I'll take my SGB/FLR airdrops and vote with them for the rewards. But I'm not buying more until after all the original excitement dies down.

[JASCoder]

Viewing today's trade action at a more granular level (5m), you can see a two hour period this morning where the most aggressive buying was occurring. As of now, it's calmed down.

Looks like some party was in a hurry to accumulate a nicely vested position... 

If we see some news get dropped soon, we'll know this was a lucky insider perhaps ?
( and I'd expect them to typically dump upon the news to max their gains )

( I'm a small holder for some time now, myself - I think games are a sleeping giant for the future ) 

[Seoulite]

5 hours ago, brianwalden said:

You say this like it's so easy (as I glance over at my XRP bags with 7 years of dust on them).

I’m not saying you have to sell at the best possible time, I just said “make decent money”. But yeah it’s not easy.

RE: Internet computer. Good point, forgot about that one. Still I like the odds when you look at how many tokens would’ve been good out even astoundingly good buys early on.

[Seoulite]

I wrote this in September. The price was 'exploding' at 8 cents. It is now 70 cents. Holy crap. Man they need to launch Flare. Screw security and stability checks. Just launch it and let Jesus take the wheel.

 

[JASCoder]

20 hours ago, Seoulite said:

Screw security and stability checks. Just launch it and let Jesus take the wheel

rotfl - says someone who Shirley never worked in IT at the Enterprise level  

[Seoulite]

1 hour ago, JASCoder said:

rotfl - says someone who Shirley never worked in IT at the Enterprise level  

Never worked in IT at any level 

[Chookstar]

On 11/26/2021 at 7:19 AM, Seoulite said:

wrote this in September. The price was 'exploding' at 8 cents. It is now 70 cents.

Well done @Seoulite for spotting this one. I remember trying to look into it but it seemed too hard for me to buy. Then yesterday it got listed on my favourite Australian exchange. Anyway, I've sold some TLM (another Metaverse coin) for some GALA. I hope it's still a good move after such a run. But it seems that the Metaverse coins still have some life in them yet.

[ftso_au]

We discussed a GALA node several months ago, when they were around USD$20k ... and the token was in the low cents.

From memory average daily earnings was around 500 tokens so it worked out to $30 give or take. It was looking like 2+ years to recoup the investment on the node.

Today the node is USD$62500, the same 500 tokens will bring in around $350 as day, so somewhere in the vicinity of $125k a year ... on todays prices. 

Much more appealing, if the token price stays strong ... and I wish I'd bought the node at $20K.

[Seoulite]

47 minutes ago, FTSO_AU said:

We discussed a GALA node several months ago, when they were around USD$20k ... and the token was in the low cents.

From memory average daily earnings was around 500 tokens so it worked out to $30 give or take. It was looking like 2+ years to recoup the investment on the node.

Today the node is USD$62500, the same 500 tokens will bring in around $350 as day, so somewhere in the vicinity of $125k a year ... on todays prices. 

Much more appealing, if the token price stays strong ... and I wish I'd bought the node at $20K.

That is a great yearly return and I’m sure we all wish we’d done it. But at the same time we should be realistic here in this space: very few people have 20k to drop on a highly speculative investment. The risks are enormous. Most Americans don’t have 500 dollars in the bank for emergency, and that is the richest country in the world.

Im rationalizing to make myself feel better about missing this one, but at the same time what I’ve said is accurate.