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Hey guys, I had a strange idea this morning about how to spend this $100 I received yesterday but I think it might work. I'm not sure if I'm ready to start yet cause I have a couple concerns, so this is a thread thats basically saying "is this a good idea?" I am basing my whole idea off of these assumptions:
1. The basic premise is that through smart/opportunistic ways of buying/trading it is possible to make a small amount of money into alot of money if you have the time/patience/resources. This is similar to the guy who had a paperclip and traded it a bunch of times on craigslist to eventually get a house... We would use this money to do whatever we have to do (within the constraints of the law ofc) to make money from it.
2. The members of TL are mega resourceful and are far above average intelligence (look at the GPA/College acceptance thread for proof of this :D )
3. The chess thread has a voting system for how they decide what their next move is made. I like this, and they also take into account expert opinions and such. I think that TL is pretty damn good at making decisions.
4. This reminds me of the wow auction house when people would have a level 1 alt with like 1 gold and make it into like 10k in a couple weeks.
Now my questions for you:
1. The money. The problem is that if I use my money it would be mega greedy of me to just take the money for myself after the great people of TL helped me out...What I'm thinking is I supply the initial investment, and then if we achieve success I would donate half of the final amount to some kind of TL entity (maybe contribute to a small time SC2 tourney?)
2. Would this even work? How viable is it, through good decision making and investment, to make thousands from just a hundred dollars? Stock market sounds obvious, but usually you will want a higher initial investment, and stocks are an already overdone method of investing. I would be interested in buying/selling or something, where we buy an item off of ebay/craigslist for obnoxiously cheap, resell it, and then invest that money into something completely different . Idk, its up to you guys.
I blogged this because its insanely off topic, borderline obvnoxious, and sort of greedy by me. I would be investing the $100 without any sort of expectation to make it back, so at least I have that to offer. I just figure maybe this would be something fun a few of us could do. I just like working with other people on really really efficient/opportunistic ways of winning small scale economics (a friend and I did craigslist trading for a while, it was fun)
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I dont know where you are from, but if you go to a supermarket, buy 0.5 liter bottles of water, go to the beach and sell it there for double the price of a bottle ( If you are in a tourist city, you can even charge 4-5 times the amount) you make big moneyz :D
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I would definitely try and keep tabs on this project because I'm genuinely curious as to how you go from a paperclip to a house. This seems difficult.
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For the time and effort it would take you to turn five dollars into a thousand dollars, you could probably just get a job and make twenty times that, with no extra education whatsoever.
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I'm siding with DPB here... work more and save a little more. Once you have about $1000 then look for small businesses to invest in. You get to help your community out and the profit can be great ^~^
edit: but now that I think about it... I would love to see you buy some cheap materials and sell it as art. I met a guy who took bicycle spokes and made bracelets out of them!
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United States1719 Posts
On November 09 2011 05:28 DarkPlasmaBall wrote:
For the time and effort it would take you to turn five dollars into a thousand dollars, you could probably just get a job and make twenty times that, with no extra education whatsoever.
this. the stock market is no child play
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On November 09 2011 05:26 Xiron wrote:
I dont know where you are from, but if you go to a supermarket, buy 0.5 liter bottles of water, go to the beach and sell it there for double the price of a bottle ( If you are in a tourist city, you can even charge 4-5 times the amount) you make big moneyz :D
Hella this. ask your parents to buy you a year of sams club and say you'll buy stuff for them in bulk and save them money. buy stuff like redbull and monster and water and sell that on the beach or at concerts. you can sell water probably for 30- 50 cents each and monster and red bull for a buck and you'll make so much money on a weekend job.
Another thing you can do is take 20 bucks and try your stuff on the stock market. don't fuck with more money then that but it'll give you a taste enough to see if you want to try more. you have to be a special type of person to even think about living off the stock market but it can be a good experience for your savings to understand where your money's going and where you want it to be in.
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You take that 100 dollars and go buy yourself some wood, some paint.
After that you go get a cheap 2nd hand freezer from a dump yard.
After that you go and get yourself some banana's, some chocolate and some sprinkels from your local supermarket.
Now put those banana's, them sprinkles and that chocolate in the freezer. Pull your sleeves up and build yourself a frozen banana stand.
A wise old man once told me there is always money in a frozen banana stand.
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hahaha, let me clarify, there can't be any labor involved, cause I already have a job. I mean more along the lines of finding things on craigslist and selling them for higher...on craigslist. that kind of stuff. but it takes a massive search effort to find the best low priced items, which is why its cool if alot of people are working on it. lol
its an interesting idea, but probably not plausable like DPB. After all, I made the $100 working in the first place. lol...
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Paperclip succeeded because it gave some kind of motivation for people to trade for a lesser value. Im not sure but he probably put the whole story about trading from paperclip to house in every craigslist post. This alone gets people interested, and once it starts rolling and gets exposure, the bigger trades near the end are possible.
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On November 09 2011 06:54 gameguard wrote:
Paperclip succeeded because it gave some kind of motivation for people to trade for a lesser value. Im not sure but he probably put the whole story about trading from paperclip to house in every craigslist post. This alone gets people interested, and once it starts rolling and gets exposure, the bigger trades near the end are possible.
Yeah this.
Like at one point he traded a whole van for a record deal... for an afternoon with alice cooper for.... a kiss snowglobe.
But why would a kiss snowglobe be worth so much to him at this point?
With his excellent writing and self promotional skills he was able to get so much publicity, that he knew that (1) someone who really wanted the snowglobe would see it and (2) if that person had something that needed to get its name out there, trading something worth very much for that snowglobe would be a good deal.
And as it turns out, (1) meant that someone who was able to offer a role in a movie needed the snowglobe. It got the movie more attention and it wasn't something that was necessarily worth more than the snowglobe because he had plenty of roles that needed to be filled in the movie and he was a snowglobe collector.
So while he traded something that was worth a lot... record deal, van... for a snow globe, he was actually trading in an environment you're not in, and with an implicit resource you don't have (publicity).
I do support your efforts, but know what you're getting into and know what's important when you try to do it.
Personally, I like the stock market idea.
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Okay, well if you guys want to try and do a TL stock market fun thing I would be totally down to do it. We can have an ongoing discussion and shit
Now lets find out how to best use our first $100
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When they say it takes money to make money and that money makes money they mean a rather large amount at the beginning. While it's certainly possible to make $100 into thousands, the time investment is far out of proportion to the value.
As people have said, getting a job will make far more, far faster. Even 40 hours a week at minimum wage will get you 3-400 a week.
If you really want to make money off $100 you're going to want to take the street-seller route imo, selling overpriced food goods/commodities is very easy and you can evade taxes.
You're not going to be able to invest in stocks with $100 because 1. For anything but really small startups, you'll only get 1-10 shares for $100 2. Most of the time you need an initial investment of $1000+, usually 5-10k+
But it's not unrealistic to imagine that if you live in an area that selling crap on the street is easy and not particularly policed, such as the beach, you could make a couple thousand over a month and then start investing.
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Invest in banana commodities.
I heard on Youtube that bananas were going extinct.
If we buy a share of bananas, and sell them when they go extinct, we'll become rich.
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EPT
