PWCC expands its lending activities

[G1911]

I’m fine with traders and investors never actually even seeing their cards. I’m great with people finding legal means to keep more of their money instead of getting it taken by the state. But if a person chooses to leave their cards with PWCC, well, they don’t deserve what happens but it will be difficult to have any sympathy for them.

[Johnny630]

Originally Posted by G1911

I’m fine with traders and investors never actually even seeing their cards. I’m great with people finding legal means to keep more of their money instead of getting it taken by the state. But if a person chooses to leave their cards with PWCC, well, they don’t deserve what happens but it will be difficult to have any sympathy for them.

Boom, agree!

[BobbyStrawberry]

The vault thing combined with this loan scheme amounts to basically an online casino, no? I don't see the appeal of card collecting if you never even get to possess the items...

Much like the hyped-up NFT craze, I think we'll see this vault fad fade away with time.

[Peter_Spaeth]

Originally Posted by BobbyStrawberry

The vault thing combined with this loan scheme amounts to basically an online casino, no? I don't see the appeal of card collecting if you never even get to possess the items...

Much like the hyped-up NFT craze, I think we'll see this vault fad fade away with time.

investing not collecting, son
assets not cards

[Johnny630]

Does PWCC still use the term Assets instead of cards ?

[BobbyStrawberry]

Originally Posted by Johnny630

Does PWCC still use the term Assets instead of cards ?

It appears so:

"PWCC Capital provides loans and cash advances to clients against Vault assets and offers notes at various interest rates for clients seeking alternative investments."

"PWCC offers clients an exciting opportunity to build their personal collections and invest in a rapidly growing asset class."

Source: https://www.pwccmarketplace.com/about-the-marketplace

[Johnny630]

Originally Posted by BobbyStrawberry

It appears so:

"PWCC Capital provides loans and cash advances to clients against Vault assets and offers notes at various interest rates for clients seeking alternative investments."

"PWCC offers clients an exciting opportunity to build their personal collections and invest in a rapidly growing asset class."

Source: https://www.pwccmarketplace.com/about-the-marketplace

PWCC= The E TRADE OF SPORTS CARDS

[Snapolit1]

Really wonder if this money rush to establish businesses to grade "assets" and stick them in vaults isn't a day late and a couple of million dollars short.

Very little of this mania is about Mickey Mantle cards and Babe Ruth. It's about Luka Doncic gold refractors and Trevor Lawrence and Jasson Dominquez and Zion and other modern players. In my limited time watching breaks and reading about the modern card realm, it's clear so many potential big guys have already blown up and burned a lot of people. A few years ago people were killing themselves to get Tua and Spencer Torkelson rookies. Not so much all of a sudden. And as PSA clears out their backlog the supply of graded Luka cards, for example, is going to depress prices further. And we've already had new grading card companies appear in the scene and fail to make much of a ripple.

I think some of these people are throwing away money. I think the mania in new cards is peaked. Time will tell.

[Kidnapped18]

Originally Posted by BobbyStrawberry

The vault thing combined with this loan scheme amounts to basically an online casino, no? I don't see the appeal of card collecting if you never even get to possess the items...

It is similar to owning stocks and bonds these days. You buy what you want and look at it online in your Vault account. I personally have not held a stock certificate in over 20 years and have not held a bond in over 5 years. But I still have ownership of the stocks and bonds. Baseball cards are viewed as assets/investments now whether the "traditional" collector realizes or not. More and more "new" collectors view collecting this way. Whether they get burned or not in the long run well only time will tell...

[Kidnapped18]

Also same with stocks you can buy other stocks on margin. Collectors are hoping and banking on their cards going higher in price/value just like stock investors hope the stock prices go up (unless they are short sellers) so they can sell for a profit and never worry about coming out of pocket for the difference they borrowed.

At some point yes the SEC may get involved but as long as WhiteHawk has its filings in order then they should be fine. PWCC has 175 million reasons to be smiling today.

[Johnny630]

When the PWCC ETF COMING OUT?

[Republicaninmass]

They should use the term Ass-hats

[Peter_Spaeth]

Originally Posted by G1911

I’m fine with traders and investors never actually even seeing their cards. I’m great with people finding legal means to keep more of their money instead of getting it taken by the state. But if a person chooses to leave their cards with PWCC, well, they don’t deserve what happens but it will be difficult to have any sympathy for them.

What do you envision happening?

[G1911]

Originally Posted by Peter_Spaeth

What do you envision happening?

I think leaving expensive valuables with a fraud ring that has a significant risk of getting into trouble with the state poses clear and obvious dangers. Good luck to those who don’t see it.

[Peter_Spaeth]

Originally Posted by G1911

I think leaving expensive valuables with a fraud ring that has a significant risk of getting into trouble with the state poses clear and obvious dangers. Good luck to those who don’t see it.

I was trying to sort out whether your concern is that PWCC's legal problems might jeopardize one's ability to get their cards back, or that PWCC would commit some separate fraud and refuse to return cards, or both. These are different concerns.

[G1911]

Originally Posted by Peter_Spaeth

I was trying to sort out whether your concern is that PWCC's legal problems might jeopardize one's ability to get their cards back, or that PWCC would commit some separate fraud and refuse to return cards, or both. These are different concerns.

Both.

[Peter_Spaeth]

Originally Posted by G1911

Both.

I guess a lot of people assume his legal troubles are over and trust him otherwise. Interesting how this has played out.

[G1911]

Originally Posted by Peter_Spaeth

I guess a lot of people assume his legal troubles are over and trust him otherwise. Interesting how this has played out.

Most of them simply ignored the fraud ring in the first place, then came to defend them once it was old news (like our last go around on PWCC). They don't seem to have ever stopped trusting him even as Blowout exposed clear and compelling evidence.

Why one would choose to store their cards with a known fraud ring will never make sense to me; it's not like PWCC is the only vault in the game. You can dodge taxable sales with others too.