How I Learned to Trade Crypto Assets through Magic: The Gathering, Part 1

in gaming •  last year

Nerdy Wealth


So as many of you may know, crypto/digital currencies are still considered assets in the United States (and I believe most other countries?), just like cars and yachts. As such, the trading and treatment of crypto more resembles trading goods rather than fiat currency. Over the last few weeks, I've gotten more into the ecosystem of buying various cryptos (at very low quantities) to follow their progress and understand how they function in the world.

What's curiously fun is how my personal experiences of playing the competitive trading card game Magic: the Gathering (MtG) by Wizards of the Coast (a subsidiary of Hasbro) has primed me for trading assets. MtG is currently the most played physical card game on the planet and has inspired the likes of Hearthstone, Hex, and many online variants that are conquering our personal devices today.


But pieces of cardboard? How does that relate to digital assets?


Many people don't realize it but MtG's age, popularity, and competitive scene drive prices to sky-high levels. Prices of cards rise and fall depending on 3rd-party sellers and their overall use in both casual and tournament scenes. It isn't unusual for a card to spike from $1 to $20 if it does well in a tournament. With around 30 million players worldwide, even small changes in competitive use can drastically affect prices.

Rarity also plays a huge factor and due to the expected longevity of the game (as opposed to fads like Pogs or Tamogachis for example) after 20 some-odd years, age and smaller supply can push up costs. In 2014 a man auctioned an Alpha (first-edition) Black Lotus for $24,000. Unique cards, foil editions, miscut accidents, signed cards, etc. all make for a diverse market of choices.

All of these factors create a unique ecosystem of physical (and digital, through the Magic the Gathering Online platform) assets that are bought, sold, traded, speculated on, and hyped.

  • Source: What's a Geek

Even Shkreli got in on the action! Hehehe...

Gaming My Experience


When I started playing towards the end of 2015, I quickly became enthralled in the auxiliary world of trading for “profit.” It was, and still is, so fulfilling to trade $30 worth of cards for $120 worth 6 months later. MtG cards are easily liquifiable and many have turned speculation into a part-time profit machine. Looking back know, I have conservatively turned about $500 worth of purchases into around ~$2,000 during the last 1.5 years. This isn't tremendous gain but it goes to show how even basic understandings of asset movement, market needs, and effect of social activity has on turning a profit. Best of all, it allows me to seamlessly afford to seriously play a game that requires a hefty investment (~several hundred a year) without a direct burden on my wallet.

  • Examples of pricing/market models for individual card assets.

Digital currency has yet to fully take on mainstream application but I do see striking similarities of MtG trading in the crypto world. I believe with a baseline understanding of market and speculation, you can turn a bit of your Steem Dollars into a diverse portfolio of crypto.

Over the course of few posts, probably 1 a week, I'll go over the little tricks in market concerning trading assets for financial gain. I've already begun to use these sensibilities for various cryptos and am seeing notable progress.

  • Examples of trade binders & value collections

What do you all think of this kind of post? I'd like to experiment more with posts that combine aspects of crypto with personal interests and experiences. I've been thinking a lot about what kinds of posts make Steemit unique and why you would share something on Steemit vs. Facebook or Twttier or Youtube or Instagram.

Let me know your thoughts below!

Be sure to comment, resteem, and alt text

and check out my design collective @hitheryon

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My brother has quite the thing for Magic (and Yugioh, among other TCGs... honestly, it's probably his main hobby) and my big thing is crypto-currency, so this was kind of a cool read (considering I'm not that familiar with the ins-and-outs of TCG culture)

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Thanks! I was wondering who on this platform this would resonate with...haha. You two should exchange trading wisdom ;)

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yes, perhaps we should share with each other what we know.

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I actually wrote a similar post recently lol

My whole family is a Hearthstone fan and when I read about your title, it begged me to click on it.

Will be looking forward to your future posts.

Followed and Upvoted.

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Hey awesome! And thanks!

My brother is a big Hearthstone competitor as well and I'm interested how Blizzard will develop that marketplace in the future. It may be more and more similar to TCGs.

this strategy is super natural .

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haha thanks!

Interesting!

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thanks!

nice story i have never understand the magic game but i am learning to trade now :D

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It's very fun! Also the game is incredible.

Can I learn with Fast sir?

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Sorry I'm not sure I understand @dimaswibo

Magic the Gathering made me opne your posts.
The way you transport Magic to Crypto assets made me be thankful Im following you!!
Do you still play MGT? I canpt because Im travelling but would love to have time to spend some in MTG Online but the metagame changes so fast I wouldn´t be able to keep up with so many changes.

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Thanks for the support @anomadsoul!

I'm still a heavy MtG player and have been trying to breakout more in the professional scene recently. If you're worried about rapid changes, I would recommend getting into Modern or even Legacy. A good deck will last you at least a year or two of competitive use. Legacy even more.

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I would love to come back to the game. Perhaps If I stay in a place for more than a few days I will definitely come back! Thanks for the advide man!

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Absolutely! Let me know if you ever get into Modern or Legacy =P

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Will do my friend, will do :D

My brother was hounding me a couple of months ago for trading away our base set Charizard about 20 years ago. I thought it was a great deal getting 10 other holographics for it, which allowed us to collect all 150 pokemon cards eventually (we still had a dark charizard). Turns out it is worth an average of just over $90 now (http://pokemonprices.com/card_price/Charizard).

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Hahaha I know... the feeling when you mis-trade away future valuables is a punch in the gut =P

good!!

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thank you! =)

How interesting! Of course this makes sense. You must be a natural and didn't even realize how these skills could be used for the next big thing! ;)

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I know! It's pretty nutso. When I started looking into crypto prices, I realized I had some unusual skillsets to apply...

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And thank you so much for the resteem @fairytalelife!

wow, very good concept...thanks for this post. Which top 3 altcoin is your best pick? I guess that Steem will do great too. Following you buddy...success

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Haha thanks. I really don't think you should ask me for crypto advice at this point, stop by in a few months =)

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@hansikhouse...hmmm dont underestimate your intelligence!!! ok, I will take your advice...following you

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hahahah thanks for the vote of confidence @charles1! I have made a bit of profit on crypto so maybe I'll throw my 2 cents in in the near future....

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you are welcome

nice....your post deserve my upvote and resteem....

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thanks!

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u r welcome...

Somehow this makes sense... especially considering the now defunct (and fradulent) but original bitcoin exchange MtGoX (Magic the Gathering Online Exchange) was originally for trading magic cards.

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Thanks for the vote of confidence ;)

I'll try to substantiate the parallel in upcoming posts

If only I hadnt stopped around the time Mirage came out then I would've definetly been into BTC a lot earlier. wonder how much my complete set of Fallen Empires cards is worth now???

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Oh man, I love telling people to dig up their old collections.
Unfortunately Fallen Empires wasn't a very lucrative set financially (though if it's in good condition, you might be able to find an eager collector for the full set) but if you have others, you can check out prices here -
https://www.mtggoldfish.com/prices/paper/standard

If I had also played since being introduced in the late 90s, I would've had a very different asset collection right now...

Really good comparison. I never thought about these two interests overlapping! These kinds of analogies will really help folks "get" steemit and the economy behind it.

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Who says work can't be play? :)

Viel Glück weiterhin! Interessanter Artikel ! :D

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Haha Danke Schoen!

Great post, love the Jace cards. Go blue.

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Haha yesss!

Wow, what an awesome story , this is really inspirational, thanks so mucj hansikhouse

I'm definitely interested in learning more about crypto trading!

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It's pretty exhilarating, not just because the market is overall getting stronger but to learn about all these various technologies and how they may completely revolutionize various industries (including art!!)

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yes it's so true and my curiosity is growing. funnily enough, when I joined steemit in Aug last year I was specifically not curious about crypto because it was just so overwhelming and all I could manage to wrap my head around was navigating and using steemit. I'm glad to have evolved a little ;-)

great market, if only I had bought fetch when they were worth very little haha ​​just left