Peelfest ‘24 - What is going on?!

[PreciousMetapsICT]

Recently joined raghavsood telegram group that shows when certain collectibles are redeemed…. Here’s a telegram link if you want to join https://t.me/collectible_money

Some days nothing is redeemed, occasionally a big coin is redeemed, but today it was very crazy.

Someone redeemed squirrelbits The King Never Dies series.  I would have paid minimum 5x the load value for these items. Also redeemed some satori’s, nasty seats (why do all seats only have .001? I’m not sure but was curious) and about 10 items with only .001 load on them. All of these would have gone for at least 2-3x or more than the load value.

Total redeemed - 30
Total claimed - 1.363 with the biggest being a CAS coin for 1 btc

Did somebody get robbed? Someone’s grandkids raid their stash? What would make a person redeem the smaller amounts and give away all the premium?

Seemed like it had to be an OG to the forum as a lot of the products originated here.

Thoughts?

[minerjones]

At first I thought it was raghavsood with the first couple items testing out keys.. but seems like someone/something else.

[MoparMiningLLC]

.001 is the payout threshold. Nasty holds the funds until then.

[rsincognito]

I think PreciousMetapsICT your right, feel like someone just inherited some stuff or sold it and liquified it lol, I feel like someone left 10% of the load value behind by peeling,   idk

[PreciousMetapsICT]

I think PreciousMetapsICT your right, feel like someone just inherited some stuff or sold it and liquified it lol, I feel like someone left 10% of the load value behind by peeling,   idk

I'm pretty sickened by the squirrelbits. That was a set I desperately want (funded of course). Now one less set out there.

If a true original buyer is peeling these items... that would be crazy. Still going with inherited or stolen.

[YodasRedRocket]

I think PreciousMetapsICT your right, feel like someone just inherited some stuff or sold it and liquified it lol, I feel like someone left 10% of the load value behind by peeling,   idk

I'm pretty sickened by the squirrelbits. That was a set I desperately want (funded of course). Now one less set out there.

If a true original buyer is peeling these items... that would be crazy. Still going with inherited or stolen.

I got that set Precious… best 40mm set Squirrel ever made 👀

[aoluain]

I would have paid minimum 5x the load value for these items. Also redeemed some satori’s, nasty seats (why do all seats only have .001? I’m not sure but was curious) and about 10 items with only .001 load on them. All of these would have gone for at least 2-3x or more than the load value.


Thoughts?

I wonder if there was a time constraint on getting the funds? - surely the owner would know they
would get more by offering them for sale or auction

or

The person peeling them didnt know that there was a premium on them unpeeled - thats probably
the case for if they were stolen.

It will be interesting if we see at some stage somewhere the Squirrelbits empty coins for sale or auction?

Someone must have got whacked and the government spooks started peeling and redeeming their squirrel bits.

This is the only possible explaination.

Possibly - and needed those peeled and funds liquidated quickly

[dozerz]

ex wife found the stash and her legal bills are hitting hard, stay safe out there.

[owlcatz]

ex wife found the stash and her legal bills are hitting hard, stay safe out there.

Sometimes... That's the way she goes ...

[ChiBitCTy]

aoluain above, is def on the money here.  Someone who doesn’t know any better ( a big one here is inheriting.  Let’s ask ourselves.. “if I pass away, who will my collectibles go to. Will they even know what they are, or how to sell them”. I bet the majority of you reading this don’t feel good with your answers. That’s why I created a thread on this very topic - https://bitcointalk.org/index.php?topic=5134350.msg50703294#msg50703294 ) , stolen, or simply needed the funds ASAP and couldn’t wait.

ex wife found the stash and her legal bills are hitting hard, stay safe out there.

Sometimes... That's the way she goes ...

Sometimes she goes, sometimes she doesn’t. Way she goes. Way of the road (best case Ontario, she goes). Rayyyyyyyyyyyy

Owl, you didn’t see 60 bucks lying around did you bud

[DaveF]

Unless the owner comes forward we might never know.
But, and this is just me, it might not be worth the time & effort to deal with it.

Asking a 10% premium this did not sell (0.11BTC for a 0.1BTC load): https://bitcointalk.org/index.php?topic=5507494
Asking for a bit less of one this did sell (0.13BTC for a 0.125BTC load) https://bitcointalk.org/index.php?topic=5505172

But after you figure in the cost to ship & insure and the value of the forks (meager as they are) is it worth the time and effort?

Using myself as an example. It's not about the $ / BTC it's just about cleaning up as I have mentioned a few times.
For the 2014 coin I might as well just peel it, move the BTC and sell the coin for whatever / whenever. It would not be worth much.

It takes time to take the pictures, make the post, deal with it and such.
If you are a new / lower ranked member you going to be forced to use an escrow with is more time and effort.
For a small premium might as well just peel and be done. Especially if you are like me and they are just sitting there in a box not even on display or even easily accessible.

Just my view.

-Dave

[henkcryptotank]

The premiums depends on the piece.
For the squirrelbits, the premiums would be well well worth any effort.
This peel does't make any sense.

GrtzTank

[DaveF]

The premiums depends on the piece.
For the squirrelbits, the premiums would be well well worth any effort.
This peel does't make any sense.

GrtzTank

Perhaps, but without more info we really can't know.
If you had a coin with 0.001 (about $62 now) and someone offered you 5x for it that is $250 in premium it's easy to say yes it's worth it for someone who can come and post here and sell and ship it easily.

But if you are living in an area that may or may not have good delivery options available, or it's difficult to get things out thought customs and so on it might be easier to just peel and call it a day.

If you are a decent criminal lawyer in NY you are pulling in about $200 a billable hour at a minimum. Taking the time out to take pictures, post and sell is probably a net negative.

Can go on with other examples. And, if for whatever reason it didn't sell you just wasted time.

And as @PreciousMetapsICT said some of these things will only go for 2x or 3x value. It just might not be worth it to them.

Just my view.

-Dave

[PreciousMetapsICT]

The premiums depends on the piece.
For the squirrelbits, the premiums would be well well worth any effort.
This peel does't make any sense.

GrtzTank

Agreed on the Squirrels. - if one of the other 9 owners want to sell - I’m your guy

The way I see it, if 3x + doesn’t mean much to you then why should
Peeling .001 mean anything either.

Could’ve sold the squirrel bits in seconds

I’m still going with stolen/inherited 

[PreciousMetapsICT]

The premiums depends on the piece.
For the squirrelbits, the premiums would be well well worth any effort.
This peel does't make any sense.

GrtzTank

Perhaps, but without more info we really can't know.
If you had a coin with 0.001 (about $62 now) and someone offered you 5x for it that is $250 in premium it's easy to say yes it's worth it for someone who can come and post here and sell and ship it easily.

But if you are living in an area that may or may not have good delivery options available, or it's difficult to get things out thought customs and so on it might be easier to just peel and call it a day.

If you are a decent criminal lawyer in NY you are pulling in about $200 a billable hour at a minimum. Taking the time out to take pictures, post and sell is probably a net negative.

Can go on with other examples. And, if for whatever reason it didn't sell you just wasted time.

And as @PreciousMetapsICT said some of these things will only go for 2x or 3x value. It just might not be worth it to them.

Just my view.

-Dave

I understand your point as well. Sometimes it’s just not worth the effort. But some of these scream old school forum members. If you were smart enough to buy these, then you’d think you’d know there’s a premium associated with them that’s significantly over peel. Or at least respect the collection and collectors and offer them up for sale here or elsewhere.

I doubt they would announce they peeled them here after reading this post

[Kryptowerk]

The premiums depends on the piece.
For the squirrelbits, the premiums would be well well worth any effort.
This peel does't make any sense.

GrtzTank

Agreed on the Squirrels. - if one of the other 9 owners want to sell - I’m your guy

The way I see it, if 3x + doesn’t mean much to you then why should
Peeling .001 mean anything either.

Could’ve sold the squirrel bits in seconds

I’m still going with stolen/inherited 

I second that.

Given the scarcity of squirrelbits I'd assume if it is indeed stolen items the original owner may come forward here in the forum.
There are a few loaded collectibles with low denom that I could consider peeling in some rare and unfortunate situations. I believe Squirrelbits would be at the end of that list. Actually not even on that list, I'd rather wash dishes for 6 months straight. lol

[TxCryptoKid]

Anyone have a pic of "the king never dies" set? Would love to see it

[DaveF]

Given the scarcity of squirrelbits I'd assume if it is indeed stolen items the original owner may come forward here in the forum.
There are a few loaded collectibles with low denom that I could consider peeling in some rare and unfortunate situations. I believe Squirrelbits would be at the end of that list. Actually not even on that list, I'd rather wash dishes for 6 months straight. lol

Tough call, I don't know why but the voice in back of my head is still trying to convince me that it was somebody it just didn't care about the money.

The market in general is kind of strange at the moment too:
https://bitcointalk.org/index.php?topic=5509327.40
The premium on the coins that offer lower amounts.

You would think that as they go up in value people would be willing to give at least 5% over peel. But that does not seem to be the case.

-Dave

[PreciousMetapsICT]

Given the scarcity of squirrelbits I'd assume if it is indeed stolen items the original owner may come forward here in the forum.
There are a few loaded collectibles with low denom that I could consider peeling in some rare and unfortunate situations. I believe Squirrelbits would be at the end of that list. Actually not even on that list, I'd rather wash dishes for 6 months straight. lol

Tough call, I don't know why but the voice in back of my head is still trying to convince me that it was somebody it just didn't care about the money.

The market in general is kind of strange at the moment too:
https://bitcointalk.org/index.php?topic=5509327.40
The premium on the coins that offer lower amounts.

You would think that as they go up in value people would be willing to give at least 5% over peel. But that does not seem to be the case.

-Dave

the .125 coin went for melt practically. That is what I would expect of large loaded items at ALT bitcoin.

the .01 went for a .0049 premium. still about $300 fiat.

The .02 went for .009 premium... Still about $540 fiat.

Squirrelbits .001 set of 3 --- who knows what the market would bring, but I wouldn't let them go for less than .005 per and would pay upwards to .01 each depending on how much auction fever I get. maybe more.

[OgNasty]

There could be a million reasons why someone would just peel instead of dealing with a sale. Maybe they’re rage quitting Bitcoin, or they need money urgently… They could be anti-social and unwilling to make a sale or maybe they had a sudden opportunity and needed coins immediately. They could have even just gotten scared and decided they needed to cash out immediately. Who knows… I do find it a shame whenever a Minted Seat is peeled. We need to get something in place so that when peeled users can claim any funds held below the payout threshold as well as selling the seat attached to the coin at the buyback rate to increase the BTC you receive when peeling.