Cantilever.com switches to Rack.ca (1.Viewing)

You're exactly right - but the reality is that some people are super conservative and some are risk takers so we definitely see both sides of that. There's a ton of money out there though, just gotta wait for the right buyer.
 
there is a guy on Twitter I saw who bought $2k Canadian worth of NBA TopShot cards last year, then in February this year they were worth as much as $380k US, then dropped to $241k US. He said he has maybe taken about $1k out and is still playing and riding the NBA TopShot market. I just think my god there is really that much money out there chasing digital basketball NFT's, and why wouldn't you sell and take a good chunk of cash out before the bubble pops??

unreal, that's $2k CAD turned to ~$500k CAD in less than a year. I know many kinds of collectibles and such are up in value over the last year, but NBA TopShots takes it up a few levels from that. Apparently in their marketplace if you want to take your money out you have to wait 30 days and there is some red tape, but if I hit that kind of gain I'd have sold it all. I can't imagine it would double or triple from it's highs anytime soon, but really these days everything is crazy.
 
I’d never even heard of some of this crap, I mean at least domains were originally a tool and have meaning and purpose and the ability to generate revenue. I really feel like these days so much crap is being created, manipulated and hyped with the sole purpose of swindling people into believing it has value, like a million giant pyramid schemes....
 
I can see a market for digitable collectibles, people have long paid to upgrade themselves in games and pay for skins and weapons in those games. But the prices for these NFT's have just risen like crazy, and because they are digital there is an unlimited amount of art, cards, etc that can be created over time even if each one is unique and backed by a blockchain. The pricing frenzy reminds me of internet start ups and penny stocks back in 1999/2000. So while it makes sense to have a market for these things, the pricing is what seems way out of whack. Maybe just people have been making so much money in crypto, real estate, and stocks in the last year. Or maybe it's just a young person thing and those over 40 or 45 have a hard time relating to it.
 
We are currently in a period called "last-stage capitalism" where the vast majority of our global wealth now sits with a very small percentage of people - think of it as a 3 century game of Monopoly that has fewer and fewer players holding ever-increasing wads of money, and the game is coming to a close.

So if you want to make money, then develop products, services or entertainment for this "Generation Wealth" to waste their vast sums of cash on, especially with the pandemic curtailing their travel. NBA Top Shots is a great example, with $6 packs now selling for $2K.

That's all this is, something new, hip or cool for the Monetarily Elite to waste their vast sums of money on, and until capitalism inevitably crumbles under its own weight (cue Bernie peeking out), this is going to be a very zany era with prices skyrocketing on absolutely idiotic and useless items.

The rich like to play, and play they will.

And they've never had more money than they do now.
 
rlm said:
Wow he got a smoking deal on both those domains too.
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And it's not good press for a company like this to get their top-end brand match .CA for 4-figures, when domain investors are currently spending that wholesale on TBR domain auctions.

And his comments about not selling for 5-figures or higher are scary, as that's how most Canadian companies feel - they think .CA should be Value Village for domains.
 
Kevin from Rack.ca is a domainer himself and he was into .ca's (still is) in a big way a while back so when he was in the midst of things .ca's were still quite reasonably priced.

I will not mention the size of his catalogue but lets just say it is substantial, if he wants to share more he will do so.

I think a lot of you have probably had contact with him because you cannot own that many domains and not be fairly well know.
 
Story about those NFT's that were mentioned earlier.

https://www.wired.co.uk/article/crypto-art-nft

Very foreign to me. Like [notify]DomainRecap[/notify] says, it seems like rich people looking for stupid things to do with their money. Or I tend to also think it's also naive people being suckered into a pyramid scheme, under the guise that its an investment...
 
rlm said:
Very foreign to me. Like [notify]DomainRecap[/notify] says, it seems like rich people looking for stupid things to do with their money. Or I tend to also think it's also naive people being suckered into a pyramid scheme, under the guise that its an investment...
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It's always a bit of both, and while the rich definitely started this game, there are always foolish commoners who get caught up in the action, and then crushed.
 

Family Spent $100,000 On Beanie Babies Thinking 'Investment' Would Put Kids Through College


Remember Beanie Babies? Those cute, lovable, bean-filled stuffed animals that every kid just had to have in 1996? One family remembers them all too well.

In a short documentary entitled "Bankrupt By Beanies," Chris Robinson, the film's director, details his family’s regret after sinking about $100,000 into the Beanie Babies craze. His father maintained five separate collections, hoping the "investment" would put his kids through college.

Unfortunately, that never happened. The Beanie Babies bubble, like so many fads before it, ultimately burst, leaving the family in financial ruin.

The reflections are moving reminders as to why investors should be wary of fads of the moment (we're looking at you, bitcoin.)
 
Whenever you see a "hot investment" being covered by the mainstream news, run away... fast.


And yes, I saw NBA Hot Shots last week on the evening news.

And as for Beanie Babies, I can remember buying our first home in the late-90's and we looked a big house owned by a single lady, and it was CHOCK FULL of Beanie Babies. They were on couches, beds, floors, shelves, virtually anywhere you could put them, and two of the unused rooms were absolutely filled with them. She was there during the showing (probably scared we'd steal them), and when I casually mentioned it, and she just said that she "reeeeaaaally liked Beanie Babies". No sheit.

I didn't even ask to see the basement.

She had more Beanie Babies than this guy in the doc, but appeared well off and probably just had OCD and liked collecting them, but man, what a freakshow of a house viewing.
 
MapleDots said:
Remember Beanie Babies?
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Lol, great example. I remember very well, my step-daughter was 9 and at the height of it, any time we took a family weekend road trip we'd have to stop at every mcdonalds we passed and buy a happy meal or two. But for us, it was sort of a fun family bonding thing for me and my new step-daughter - not an investment. Still have a box of those damn things somewhere.
 
For us it was Webkinz and I can remember buying the kids netbooks so they could play the game (you input a tag to play your animal online) - and thankfully (although some stuffies got expensive on the aftermarket) they never approached the mania that was Beanie Babies.


There is a classic line in that BB doc that sums up virtually any ill-fated endeavor like this:

"We realized we could buy them and turn around and make a profit on them. Although that was the plan, it never happened because we never sold them, we just bought them."

Like I keep saying, buying is easy, selling is hard.
 
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When this topic winds down I will probably separate it into two.

Unless someone finds a way to make the last half of the topic relevant to racks.ca :lol:
 
Hey, you posted the Beanie Baby doc.
 
DomainRecap said:
Hey, you posted the Beanie Baby doc.
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Yup good thing this is not namepros or I would have to lecture myself, give me a warning, write restricted under my avatar, and put two points on my permanent record. *ROFL*
 
I'm glad I found this thread before posting on Domains we see on TV. Fascinating read!

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You love to see it. Go Leafs Go!
 
AdamDicker said:
I personally always enjoy a nice rack. ;)

They need to redo the logo, it looks like the word rack was just thrown in there.
This is a good sale.

Adam
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Lol, yes, this definitely looks like the result of a programmer type guy thinking, hey, I can open up gimp/photoshop and whip up a logo for free! Why would I pay a professional designer??

Ya gotta know what you know - and more importantly - know what ya don't!
 
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