We are still early, learning, growing with u guys since january 2023

BAYC floor price at 30ETH

reminded me on how i taught my EX-girl friend about

using Chanel Bag investing as example

N why she is an EX girl friend 🤡

Flash back $JPY was dropping like a shitcoin

My EX demanded to go japan (even in the bear market rekt)

So we bought some JPY at the low

We went to handbag shopping to explore Chanel

Before going into this, my EX never understood why people wanted NFTs n whitelist so much.

If u are a crypto native but not simp like me let me explain how the handbag game works

Exclusive handbags are only for cool high end customers, with limited supply

u can start buying a few over price items so u have enough reputation to buy the handbag u want

But wait.. sometimes the sales is feeling generous n let u buy one if she thinks u are a collector

Sounds familiar? Dear NFT degens? this is whitelist

Why do girls ape into bags if in chanel shops?

because u will mint a BAYC whitelist thinking u can sell it for higher

or u are a "collector" (good for u bro)

Anyways since the bag sales person was so generous to give us this whitelist, we end up minting that that Chanel bag.

Like most NFT addicts, primary minting is just the start, we gotta speculate secondary on market place

We end up browsing those brand new second hang bag shops.

We notice there is price difference between secondary bags in Japan & Hong Kong

My EX decided to be a "Arbitrage trader"

GF:

Hey there is a 10% price difference between chanel bags in japan n Hong Kong.

OMG we are going to be rich n u can thread about it in ur little account

What is Arbitrage trading

buy from 1 place, sell for higher for price difference between 2 markets

Lambro:

Babe are u sure u can arb chanel bags, it is a very popular market

have u taken account in cost/ friction?

Lets list the cost

GF:

Ok babe seems not much room for the popular handbags but for the special ones the price difference seems big

Lambro:

This is because of liquidity, there might be not as much people that wanted these special bags in a way u are taking more risk n u end up not able to sell the bag.

GF:

if we can't sell the bag, its ok. chanel bags price only goes up anyways!

Lambro:

So u want to long $chanel? because the brand is good, demand is high n supply limited right?

GF:

i like the bag n i want it anyways, is not just about the money

like u crypto bro say hodl hodl hodl

We bought JPY cheap anyways

Lambro:

Sure babe

In my head

if u really wanted profit why not just sell JPY n take profit

N I thought to myself

one ETH is one ETH

one EX GF is just another one EX

so i cut lost, sink cost anyways

N this story is totally make up,

why would u ever think i can get a girlfriend?

🪤 Traps of NFT investing

I have nothing agasint NFTs, in fact i want to mint something cool n be part of a cool community n meet friends

But u should seperate investings & spending

Always a clear framework on what are u doing.

Buying to sell or Buying as a spending

If u wouldn't spend that amount on clothes, watches than u prob shouldn't buy that NFT

If u are investing, are u really a truly god tier investor that is timing the bottom of NFTs in a down trend market?