PWCC expands its lending activities

[glchen]

Originally Posted by raulus

And for that matter, what happens if these vault companies go under? Based on all of the crypto “banks” that have gone under and taken people’s crypto with them, it seems like the same problem could easily exist here.

This is what I am concerned about with PWCC's lending activities and using the Vault as leverage. Has anyone who uses Vaults checked on what happens if PWCC goes bankrupt? Can they take your cards and use it to pay off their creditors? This is what happened to some of the crypto firms like Celsius that went bankrupt. Folks who kept their crypto in those firms were not able to access their holdings anymore. If leverage like this is propping up card values, this may be what may ultimately cause the market to pop later.

[Fuddjcal]

Originally Posted by glchen

This is what I am concerned about with PWCC's lending activities and using the Vault as leverage. Has anyone who uses Vaults checked on what happens if PWCC goes bankrupt? Can they take your cards and use it to pay off their creditors? This is what happened to some of the crypto firms like Celsius that went bankrupt. Folks who kept their crypto in those firms were not able to access their holdings anymore. If leverage like this is propping up card values, this may be what may ultimately cause the market to pop later.

Ohhhh. The Market could POP too? What could possibly go wrong where Brent Mastro, known 5-pronged fraudster is concerned LOL

[Exhibitman]

I greet the news with the same emotion as any PWCC news:



They can do whatever they want and I do not care since I will never do business with them. I don't lay down with dogs and I don't wake up with fleas.

[Mark17]

Originally Posted by Exhibitman

I greet the news with the same emotion as any PWCC news:

Image deleted

They can do whatever they want and I do not care since I will never do business with them. I don't lay down with dogs and I don't wake up with fleas.

That's so disgusting. Do you have to post that? It isn't original, it isn't funny, and it isn't appropriate. It makes you look like you're 12 years old.

[Exhibitman]

Originally Posted by Mark17

That's so disgusting. Do you have to post that? It isn't original, it isn't funny, and it isn't appropriate. It makes you look like you're 12 years old.

We collect baseball cards. I think the maturity thing went out the window a long time ago.

[Lorewalker]

Not sure if this hook up with the lender is suggestive of PWCC growing or not. What it is incredible to me that after their suspension from eBay for shill bidding on top of a multi year FBI investigation into that and the card altering, that anyone wants anything at all to do with them. Not to imply that every other industry entity is run beyond reproach by ethical law abiding people but some actually are. Fraud has clearly found its way into the industry and made itself right at home.

Done business with PWCC but none since I was put on notice as to their now obvious business practices. So to bring this back to the thread topic, I would stash my collection in Hefty trash bags outside my home before I left anything with him at the vault. Even if the material is not at risk, should something go down, who knows what a nightmare it would be trying to retrieve the material.

[BobC]

Originally Posted by glchen

This is what I am concerned about with PWCC's lending activities and using the Vault as leverage. Has anyone who uses Vaults checked on what happens if PWCC goes bankrupt? Can they take your cards and use it to pay off their creditors? This is what happened to some of the crypto firms like Celsius that went bankrupt. Folks who kept their crypto in those firms were not able to access their holdings anymore. If leverage like this is propping up card values, this may be what may ultimately cause the market to pop later.

And this is a big reason why I'm guessing the vault services are provided by entirely separate companies than the related AH/sales companies. At least it now lets people know to ask these vault providers how their businesses are set up, and if they are independent and totally separate from other possibly commonly owned businesses. And by separate, I mean where there is not just one single business that owns and runs the AH/sales operation and the vault, or where one is a total or partially owned subsidiary business of the other. And you can have both businesses owned entirely by the same people, yet they ae still considered separate as long as the businesses themselves don't own any part of each other.

My guess is the operation lending people money on their collectibles may be set up as an entirely different/separate business and entity from the vault and AH/sales businesses as well. Would make some sense.