Is coral a lot like crypto?

[Costareefer]

No it’s not like crypto. Unless you can frag your crypto. If you’re an investor into the hobby you’re talking tangible assets. Real commodities. Crypto like someone else pointed out is multilevel marketing.

if you’re a hobbyist your bitcoin isn’t gonna be your pet. It’s not gonna be an outlet for stress or a nice distraction.

 

[Charles Zinn]

After 4yrs I have learned...there is more to water quality and stability than alk. Calcium. And magnesium
. Water testing comes in many flavors. The good people to follow are those that admit their failures
ICP test your water with new nubs of frags..every 2wks. Dose water with trace elements as rquired..repeat as necessary. Repeat as necessary...tackle one parameter at a time. Start with easier corals then LPS...the SPS as you have successes...and there is something to adding corals and fish slowly so tank doesn't recycle. Test amonia and nitrite again to make sure you haven't recycled. It's easier if you start with at least a 3 to 3 inch frag. More established. Take pride in small successes

 

[Mr Fishface]

I do very agree that the market comes in waves. When I first started the hobby, bounce mushrooms were all the rage. Now it seems like torches have filled that spot. I loved the post about morphmarket - very similar in trends affecting the overall market.

 

[Mark Gray]

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?

Let's hope so, I by total accident made a fare amount of money from crypto currency. I would love it to happen in my life long hobby

 

[blaxsun]

I'm betting big on Green star Polyps being the next big thing!

 

[CaseyWagner]

This thread just feels like an attempt to inject cryptobro stuff into an unrelated forum.

 

[Charlylawr]

If your comparison is based only on undulating demand, then cryptocurrency can be compared with a variety of products that bring seasonal profits.

 

[elysics]

It's not like crypto at all. With corals you know exactly what you are getting into.

There is no hope that the price of a $1000 coral will go up, and you don't hope that it will stay the same either, that's bad, that means it has a high risk of dying, unless you know a secret everyone else doesn't. The hope is that the price drops slower than you can grow the first wave of frags.

It's not a pyramid scheme either. People that buy for 1000 hope they can sell multiple frags for 500, people that buy for 500 hope they can sell multiple for 200, and so on.
Eventually the price balances out with how hard to grow they are.

Theres no scam or scheme or much volatility involved, you can decide how much of a premium you want to pay for the hottest newest fashion, or if you'd rather buy last year's or the one from the year before that, or stuff that's not hot at all, just nice looking.

 

[billyocean]

It sure is! Tons one day and gone the next!

 

[Gumbies R Us]

In some aspects yes? Both crypto and tanks can crash, both can be expensive, and both have various monetary values. But at least with coral I feel like I know what I'm getting myself into unlike crypto where it's just a complete gamble

 

[A Young Reefer]

I'm betting big on Green star Polyps being the next big thing!

Good thing that I am investing in them from now!

 

[Dbichler]

When I started reefing you would just meet someone at a lfs and trade corals or buy frags for 5-20$. Even in the stores rarely were their corals ever over 100$. As long as you don’t jump on the bandwagon you can find deals but not like you used to. It’s great seeing many new people join the hobby however things are going in a bad direction for people wanting to do it affordably. The only way I see it sort of like crypto is certain in fad corals. They will go away and a new will jump in.

 

[MoshJosh]

My brief thoughts

Supply, demand, hype, trends. . . applies to and affects the price of most/all "products" to some degree not just corals.

The coral "market" may be more susceptible the the above factors than other markets for one reason or another making it pricing volatile. . . much like the crypto market is volatile.

 

[bushdoc]

I only buy and grow non-fungible coral.

 

[Charlylawr]

If your comparison is based only on undulating demand, then cryptocurrency can be compared with a variety of products that bring seasonal profits.

For example, we buy swimsuits and ice cream in summer and winter tires and hats in winter. Cryptocurrency is currently in a precarious state so any investor can lose their money at any time. So I tried to protect myself and started mining on the platform www.moonbitcoins.com. I don't know if my strategy will work, but it seems that this is the best solution not to lose money.