Is coral a lot like crypto?

GK3

Valuable Member
View Badges
Joined
Jan 16, 2017
Messages
1,852
Reaction score
1,338
Location
Cincinnati
Rating - 100%
2   0   0
Ok now that I have you here, I’d like to talk to you about your cars extended warranty.

The question: is the sale and price of coral very similar to the sale and price of crypto - it comes in huge waves (punny) and then crashes. The cycle repeats.

if you aren’t into crypto here is what I mean, let’s use bitcoin as our example. In 2010 bitcoin traded for pennies. Over the last twelve years the price has increased dramatically, fallen back down, some people wanted it, then no one did etc.

I feel like coral is the same way. Sometimes coral is super easy to sell and other times you can’t. We used to see HG torches sell for $1200 now we can get them for $700. Regular BTAs used to be $40, then $100, now they are $60-80.

it feels like there are coral crazes and prices jump, then we go dormant and prices fall. I feel like we are dormant.

thoughts?
 

Karen00

2500 Club Member
View Badges
Joined
Jan 7, 2020
Messages
3,565
Reaction score
6,490
Location
Toronto
Rating - 0%
0   0   0
I think part of it could be the "flavour of the day" phenomenon but I think it's more related to supply and demand especially when it comes to places becoming off limits to collect or possibly some disease is wiping out the wild type so we're restricted to whatever is available via hobbyists or in the lfs's. In the case of a place reopening for collection then I feel prices will naturally drop as supply increases.
 

i cant think

Wrasse Addict
View Badges
Joined
Sep 1, 2021
Messages
17,053
Reaction score
31,945
Location
England
Rating - 0%
0   0   0
Ok now that I have you here, I’d like to talk to you about your cars extended warranty.

The question: is the sale and price of coral very similar to the sale and price of crypto - it comes in huge waves (punny) and then crashes. The cycle repeats.

if you aren’t into crypto here is what I mean, let’s use bitcoin as our example. In 2010 bitcoin traded for pennies. Over the last twelve years the price has increased dramatically, fallen back down, some people wanted it, then no one did etc.

I feel like coral is the same way. Sometimes coral is super easy to sell and other times you can’t. We used to see HG torches sell for $1200 now we can get them for $700. Regular BTAs used to be $40, then $100, now they are $60-80.

it feels like there are coral crazes and prices jump, then we go dormant and prices fall. I feel like we are dormant.

thoughts?
I’ve wondered the same recently, many acropora also follow the same trend of having a great price then people go into hunting them and the price rises to the 4 digits, then it drops to the three digits and continues to drop until it becomes popular again.
 

sixty_reefer

5000 Club Member
View Badges
Joined
Nov 8, 2018
Messages
5,523
Reaction score
7,833
Location
The Reef
Rating - 0%
0   0   0
It’s more like rare coins collections, as more of the same coin become available the more will the price drop and not all rare coins worth a lot of $.
Now that we took this issue out of the way, how much is that extended warranty going to cost me?
 

Biokabe

Valuable Member
View Badges
Joined
Oct 21, 2016
Messages
1,424
Reaction score
2,054
Location
Tacoma, WA
Rating - 0%
0   0   0
I don't really see it as related to crypto, which is a highly volatile market with no tangible goods associated with it other than a whole lot of wasted electricity. Coral prices behave according to regular supply and demand. When a new coral color morph is brought to market, a lot of people want it. Couple that with the fact that a new morph won't have many daughter colonies out there increasing the supply, and the price is high. As coral collectors acquire the new pieces, demand drops while supply slowly starts increasing. As word of the new morph spreads, mid-tier coral collectors begin trying to get their hands on the coral. This maintains the price of the coral at a price that these collectors can support.

If the coral is weedlike in growth pattern (rapid growth, easy success), the price eventually drops down to rock bottom - your GSP and Xenia colonies that sell for $10-$20. Holllywood Stunners for $5. No-name zoanthids for $15. If the coral faces restrictions on its supply (maybe it grows slowly or often dies when introduced to a new tank, for example) then the price remains high.

Contrast that with crypto, where the only reason someone wants a BitCoin is because other people say it's worth a lot of money. No one buys a BitCoin just to have it and enjoy it. They buy it explicitly as an investment vehicle. Plenty of people buy corals just to have them and enjoy them, with no intention to ever profit from the acquisition.
 

sysakyk

New Member
View Badges
Joined
Dec 5, 2022
Messages
1
Reaction score
1
Location
USA austin
Rating - 0%
0   0   0
I definitely agree that both bitcoin and coral have an ever-changing market, so investing in both can either be a risk or an opportunity to gain. Both are crypto currencies that provide security and privacy to the users.
 

livinlifeinBKK

5000 Club Member
View Badges
Joined
May 31, 2020
Messages
5,720
Reaction score
5,193
Location
Bangkok
Rating - 0%
0   0   0
Maybe monetary value follows a similar trend but the reasons for the trends arent similar at all...i honestly don't see many similarities between the two in any way
 

GARRIGA

Valuable Member
View Badges
Joined
Oct 12, 2021
Messages
2,139
Reaction score
1,687
Location
South Florida
Rating - 0%
0   0   0
Reptile morph market very similar to designer clown-fish and new coral colors. It's kind of like a pyramid scheme in that those getting in early tend to see the greatest returns and those getting in late might take losses. This excludes those who just want the next nicest thing.

Crypto is just foolish. The Greater Fool on display. Similar to buying AMC because popular belief it goes to the moon. More foolishness. All based on hoping another sees more value than self paid. However, if one could frag shares :face-with-rolling-eyes:
 

StatelineReefer

Reef Safe With Caution
View Badges
Joined
Jan 1, 2020
Messages
9,339
Reaction score
27,763
Location
Beloit, WI
Rating - 0%
0   0   0
Plus, crypto can't in themselves generate more crypto, unlike corals. :)
Proof of Stake says otherwise, but I would take that with a grain of salt... or a bucket of salt.

At least then you have an extra bucket.
 

Piscans

Active Member
View Badges
Joined
Oct 4, 2022
Messages
195
Reaction score
245
Location
somewhere
Rating - 0%
0   0   0
honestly i feel like this kinda thing has happened throughout history. probably a caveman found a shiny rock, then he traded it for other shiny rocks. and eventually, a smart caveman realized the shiny rocks were worthless and their value crashed
 

Mastering the art of locking and unlocking water pathways: What type of valves do you have on your aquarium plumbing?

  • Ball valves.

    Votes: 71 53.0%
  • Gate valves.

    Votes: 68 50.7%
  • Check valves.

    Votes: 34 25.4%
  • None.

    Votes: 30 22.4%
  • Other.

    Votes: 9 6.7%

New Posts

Back
Top