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Title: Are Physical bitcoins over $50 worth it ? Post by: KrispyKrypto on August 07, 2021, 11:47:14 PM So, I’ve recently been thinking about the cost of physical bitcoin collectibles , such as lealana , Crypto Imperitor , finite by design etc . I just recently bought a CI pumpkin coin (.01) loaded for .02 BTC . I could have instead bought .02 worth of BTC and had twice as much as I do now . Will this pumpkin coin always be worth .02 btc? Or will BTC become so big that in however many years when I decide to sell the coin, I’ll be getting a fraction of what I could have if I just put all my money in actual btc at the time of purchase . I just saw a post where there was a 5 btc casacious coin and the re sell value was only about 5.25 . Physical bitcoins are super cool , but wouldn’t it be smarter to be investing in btc itself and not a collectible that may not appreciate as much as buying more btc . Something to ponder . Let me know what y’all think .
Krispy Title: Re: Are Physical bitcoins over $50 worth it ? Post by: ChemicalSpillage on August 08, 2021, 02:43:46 AM If the premium is worth the craft, scarcity, and novelty of the collectible to you, then there's your answer.
Perceived value of the collectibles differ: the premium may go down in terms of BTC but up in USD, though the biggest example of pure collector's value would be with unloaded Kialara pieces Title: Re: Are Physical bitcoins over $50 worth it ? Post by: Hookzup1 on August 08, 2021, 03:03:05 AM Nfts are selling for ridiculous crypto prices and they don't even have crypto funds stored on them
Title: Re: Are Physical bitcoins over $50 worth it ? Post by: Spokanistan51 on August 08, 2021, 03:59:57 AM There are a few reasons I was drawn to physicals, and with the continued adoption I feel the values will explode in the future:
- Bitcoin is difficult for the average person to comprehend. No apps, no computers, no passwords. With a physical you store them in a safe place and HODL. - There is something to be said about a tangible, physical, item you can hold in the palm of your hand that contains access to Bitcoin on a private key. - Not tech savvy? A loaded coin, chip, bar, or bill is a solution to this issue. - Many are a limited number produced, and/or no longer made. As demand goes up, the supply goes down, and the value increases. Think of Casascius, Lealana, Satori, BTCC, CI’s etc to name a few. Consider yourself lucky to have any of these - Finally, and most importantly for me, if I die tomorrow my Crypto doesn’t die with me lost forever on an exchange, password protected cold wallet, or app. It lives on with my kids to pass on a physical Bitcoin with the hope of generational wealth that will impact their lives in a positive financial fashion. I could go on, but these are just a few reasons I am willing to pay the premium for physicals. Also, if you think $50 is bad, try buying a Silver or Gilt Cas :o Title: Re: Are Physical bitcoins over $50 worth it ? Post by: nathansenn on August 08, 2021, 05:21:18 AM I will pay more the $50 for many Physical bitcoins so it depends on what Physical bitcoins your talking about
Title: Re: Are Physical bitcoins over $50 worth it ? Post by: Mbitr on August 08, 2021, 07:42:01 AM I think @Spokanistan51 sums up a lot of my thoughts on this on a practical level. But another main factor is , if you are a collector of coins, stamps, cards etc, sometimes you just can’t help yourself. Some people enjoy cars, gadgets etc, but for me there is definitely a lovely feeling of adding something new and shiny to your collection, and that is often worth the extra premium :)
Title: Re: Are Physical bitcoins over $50 worth it ? Post by: barryonion on August 08, 2021, 09:50:05 AM yes, value is purely subjective when it comes to these collectibles / pieces of art..
it is an interesting reflection on human psychology as to why people actually want these things over BTC itself.. The love for beauty / the appreciation of a skillset, will always exist i think. Practicality and monetary value don't seem to matter too much. .barryonion. Title: Re: Are Physical bitcoins over $50 worth it ? Post by: blucepheus on August 08, 2021, 05:04:17 PM For me it mostly comes down to the beauty and rarity of these items. Isn't that the case with most collectibles? For example, I own an extremely rare bottle of bourbon worth ~$35k. It will appreciate at 5-10%/year I imagine, but if I sell it and put that toward liquid Bitcoin, I'm confident I'll do much, much better. There are many examples of this, including:
- Rare coins - Rare whiskey and wine - Rare knives - Rare playing cards, etc. Title: Re: Are Physical bitcoins over $50 worth it ? Post by: krogothmanhattan on August 08, 2021, 07:51:41 PM Hmmm...the physical Bitcoin collectors dillemma that I have faced thru the years myself.
You got a good point there but speaking as a collector of things, sometimes I would rather have a piece of btc history than btc itself. One way I try and justify what I buy is I try never to use what I have in BTC in my long term vault(being a btc maximalist) ...that stays untouched. When it comes to buying a collectable I spend from dirty fiat money I was never planning into converting into BTC at all for long term savings. A few years back I bought an item for $200 that the buyer said he bought for 6 BTC back in the day when BTC was low. To prevent me from having any type of remorse down the line as this guy had... I simply try my best to use fiat paper money or newly purchased BTC with said useless fiat paper money. And if I buy a loaded item, then I have the benefit of adding BTC to my colleciton and portfolio as well. Title: Re: Are Physical bitcoins over $50 worth it ? Post by: Est2013 on August 08, 2021, 08:23:40 PM Hmmm...the physical Bitcoin collectors dillemma that I have faced thru the years myself. You got a good point there but speaking as a collector of things, sometimes I would rather have a piece of btc history than btc itself. One way I try and justify what I buy is I try never to use what I have in BTC in my long term vault(being a btc maximalist) ...that stays untouched. When it comes to buying a collectable I spend from dirty fiat money I was never planning into converting into BTC at all for long term savings. A few years back I bought an item for $200 that the buyer said he bought for 6 BTC back in the day when BTC was low. To prevent me from having any type of remorse down the line as this guy had... I simply try my best to use fiat paper money or newly purchased BTC with said useless fiat paper money. And if I buy a loaded item, then I have the benefit of adding BTC to my colleciton and portfolio as well. +1 Well said krogoth. I don't have a long tenure on this forum for collecting physicals, but I also lean on this method. Title: Re: Are Physical bitcoins over $50 worth it ? Post by: raritycheck on August 08, 2021, 08:33:44 PM Hmmm...the physical Bitcoin collectors dillemma that I have faced thru the years myself. You got a good point there but speaking as a collector of things, sometimes I would rather have a piece of btc history than btc itself. One way I try and justify what I buy is I try never to use what I have in BTC in my long term vault(being a btc maximalist) ...that stays untouched. When it comes to buying a collectable I spend from dirty fiat money I was never planning into converting into BTC at all for long term savings. A few years back I bought an item for $200 that the buyer said he bought for 6 BTC back in the day when BTC was low. To prevent me from having any type of remorse down the line as this guy had... I simply try my best to use fiat paper money or newly purchased BTC with said useless fiat paper money. And if I buy a loaded item, then I have the benefit of adding BTC to my colleciton and portfolio as well. + 1 to this. Also, tbh the another good reason for keeping physical coins is that you are always hesitant to peel a coin [unless there is an emergency]. Some times, physical BTC are the only store of remaining BTC for many BTC holders, who otherwise would have sold everything. It's like a mental block which you have to cross before peeling. So many people buy and just forget about the coin. This may not be the case 100% of the time. But this has been the experience for many collectors. Hopefully this helps! Disclaimer: We have our own coins on sale. :) Title: Re: Are Physical bitcoins over $50 worth it ? Post by: krogoth on August 08, 2021, 08:43:13 PM Hmmm...the physical Bitcoin collectors dillemma that I have faced thru the years myself. You got a good point there but speaking as a collector of things, sometimes I would rather have a piece of btc history than btc itself. One way I try and justify what I buy is I try never to use what I have in BTC in my long term vault(being a btc maximalist) ...that stays untouched. When it comes to buying a collectable I spend from dirty fiat money I was never planning into converting into BTC at all for long term savings. A few years back I bought an item for $200 that the buyer said he bought for 6 BTC back in the day when BTC was low. To prevent me from having any type of remorse down the line as this guy had... I simply try my best to use fiat paper money or newly purchased BTC with said useless fiat paper money. And if I buy a loaded item, then I have the benefit of adding BTC to my colleciton and portfolio as well. + 1 to this. Also, tbh the another good reason for keeping physical coins is that you are always hesitant to peel a coin [unless there is an emergency]. Some times, physical BTC are the only store of remaining BTC for many BTC holders, who otherwise would have sold everything. It's like a mental block which you have to cross before peeling. So many people buy and just forget about the coin. This may not be the case 100% of the time. But this has been the experience for many collectors. Hopefully this helps! Disclaimer: We have our own coins on sale. :) I know the hardest to sweep would be a Kialara...Max told me he made sure it would have to be kinda destroyed to unload or sweep and this will make a person really think hard before doing so unlike peeling just a hologram on a coin. I have loaded one just for that reason as well. Title: Re: Are Physical bitcoins over $50 worth it ? Post by: krogoth on August 08, 2021, 08:46:36 PM And another thing....most likely most collectors will agree with this...you can always buy BTC ...yes probably at a much higher price down the line...but some collectables are so rare...you might never come across them again.
And that my friend is what drives me as a collector...having very rare and or unique items that are one of a kind. Title: Re: Are Physical bitcoins over $50 worth it ? Post by: bitbollo on August 08, 2021, 08:53:50 PM these kind of items are part of history. their intrinsic value it's something that goes beyond the simple exchange btc/fiat cash
the real appreciation in economic value can't be seen in a short time frame. if you're a collector you're already earning much more filling your passion, your hobby. if you are searching speculation maybe it can't be the best option to choose. Title: Re: Are Physical bitcoins over $50 worth it ? Post by: Steeley on August 09, 2021, 03:12:02 AM lots of upside still! If bitcoin itself is still in the the early adoption stage, this collectibles market is ridiculously early. I think premiums on coins can keep up with btc. As prices rise that will start to change of course, but there are some great items out there at approachable prices (like the Pumpkin coin you bought). I was surprised when I started in 2020 that I could still buy some of the rare coins that were minted as early as 2011 for the prices I was finding them for. I think this market gets crazy at some point, especially now that Elias' Encyclopedia is in Walmart!
Title: Re: Are Physical bitcoins over $50 worth it ? Post by: wheelz1200 on August 09, 2021, 03:14:15 AM Collectibles don't always appreciate so that could be the case here. Or in 20-40 years all of these early pieces will become more rare and crypto moreainstream and these become priceless. Or maybe these coins become beanie babies. If you are looking for immediate price appreciation buy bitcoin. I like cool things regardless of price so I like buying cool bitcoin collectibles :)
Title: Re: Are Physical bitcoins over $50 worth it ? Post by: Eclipse33 on August 10, 2021, 12:58:41 AM Just to chime in with my two cents.
I think If you are smart enough to send a bitcoin transaction and privileged enough to pass a KYC on an exchange to get some bitcoin you are in the top 5% of the wealthiest people on earth. The bars to entry on crypto are HUGE. Computer, internet connection, money in the bank and a passable identity to name a few... Most of these crypto collectable coins can only be bought with crypto meaning it takes one who is already in the circle to do it. If we see a bullrun in early crypto artifacts much like we have seen with a bullrun with NFTs ( I think we will). We could be looking at 2k + for a satori, let alone a CI or Lealana. The premiums will detach from the physical value of the piece with enough time! Title: Re: Are Physical bitcoins over $50 worth it ? Post by: selassiesoildier on August 10, 2021, 04:26:42 AM .
Title: Re: Are Physical bitcoins over $50 worth it ? Post by: selassiesoildier on August 10, 2021, 04:29:21 AM Great feedback here. When fiat collapses and bitcoin becomes the world reserve currency, all those coin, paper currency collectors & gold bugs are going to want a piece of our scarce market of physicals. Now that I’ve gotten the hopium out of the way, smaller denomination coins will IMO get you a higher premium than a 5 or 10 BTC Cas. I’ve seen .1 cas’s go for .3-.4 recently. Observing the Cas tracker https://casasciustracker.com/?page_size=30 it is evident that many coins were peeled in the 20k-65k run for the year thus far. Which we all know makes the remaining unpeeled coins even rarer. Imperator’s coins are limited in amounts minted lowest being 10 (Doge milli gold coin) If you ever manage to get a hold of a .1 imperator (25 minted) I don’t see it selling for anywhere less than .2 or even .3 https://imgur.com/a/4JcgxOA As more currency collectors and gold bugs enter the space, they will gravitate to this niche market as they fall in love with bitcoin, believe it or not I tend to get a way more excited reaction from young people when they see a physical, they always take a pic and post it on their social media. That being said, there’s nothing like taking out the collection from storage and enjoying the beauty and freedom that these physical bitcoin represent. Remember it’s a lot easier to mint a cartoon penguin/cat/dog in multiple colors than it is to mint an actual precious metal coin or poker chip. Title: Re: Are Physical bitcoins over $50 worth it ? Post by: OgNasty on August 11, 2021, 06:58:31 PM If not wanting to destroy a collectible is what keeps you from selling and gets you to hold long term, then it’s worth it. I know I paid quite a bit more in BTC for my Casascius collection than it’s worth currently, but it’s still the second best investment of my lifetime. No doubt that BTC would have been spent on less appreciating goods had I not had it stored on Casascius coins, so it’s hard to be mad about the extreme USD value appreciation even if it could have been higher if left in BTC.
Title: Re: Are Physical bitcoins over $50 worth it ? Post by: Agrawas on August 11, 2021, 08:48:22 PM All very interesting points. Well for me being relatively new, I spend all my usd for buying the collectibles(mostly unloaded) at the time since I had no prior experience in crypto. Well it all hit me first time when BTC shot up to 10k from 3k within a matter of week. That was the day I regretted for not buying BTC instead of collectibles and could have bought the same collectibles for lot less BTC. But all in all it was a good learning experience since from that day on any collectible that I buy, I always I buy back the premium part of BTC back using the USD. That way was I always have my records for the usd I paid as premium for the collectible. This way I am satisfied on what I paid with USD for the premium and my underlying BTC holdings doesn't go down..
Title: Re: Are Physical bitcoins over $50 worth it ? Post by: mx12.levins on August 11, 2021, 08:57:44 PM BTC Art is luxury stuff.
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