italiandragon said:
[...]
Do you really think people waste their time for that little money?
Yes. It's a buyout phenomenon. From personal experience: with L-L-L.com - I wasn't a big believer, but wanted to grab a couple "just in case" ... I had $250 I was planning to use on other things in the coming week, but figured I could just buy a bunch at reg-fee and then sell most of them later for $10 or whatever. As luck would have it, I didn't actually sell any the next week, and prices for L-L-L.com soon went up to $25 and up - I waited a few weeks and then sold enough at $30 to $50 to get my $250 back - and then I had my "free nest egg" to sit on ...
With LLLL.net - I bought about 50 in December, planning to keep only 10 and sell the other 40 at $10 each, again for the "free nest egg" plus a few $ extra for my time ... A week later I put NBOI .net up on eBay with a $9.99 minimum bid - no takers. So I didn't follow through with plan to flip the rest, seemed like more trouble than it would be worth (also, seeing someone selling premium LLLL.net for $8 / $7.50 volume here on NP - I actually bought a few that I liked from him - better to buy than to sell at that price as far as I was concerned).
Noticing another angle to my own "buyout flip scheme" psychology ... Once I "buy" into something (ie, put money into it whether or not I really believe in it for the longer term), I tend to start paying more attention to that market, and often end up absorbing enough information/propoganda to actually now truly "believe" in it a bit more. (It's a well-known psychological phenomenon often exploited by sales people and other professional persuaders - "cognitive dissonance" reduction is one of the driving forces, some other interesting mind games at work here as well - group identity, social reinforcement, lots of good stuff! I know a bit about it and still am not immune to it.)
Anyway ... long story short - it's a safe bet that enough people will buy planning on doing quick flips, and some of them actually will need to sell at whatever price, probably lower than they hoped to get. Others will "become believers" and change their plans, either waiting longer for their target price, or deciding to hold for the long term once they've endured the temporary "spent more than I planned to and didn't get that money back yet" week or month after they bought in - and then find themselves pleasantly surprised that they did better than they expected to in the long run ... or not.
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