Bitcoin Forum

Had a few worths on this auction and like to expand the discussion...

What do we think about it and are there many other moments which created a historical piece that could provide high prices in BTC or FIAT terms?
And with what kind of others pieces can we compare a piece like this one..

https://x.com/BTC_Archive/status/1783424287438713334


would it be worth more as this Einstein note over time?

https://edition.cnn.com/style/article/einstein-handwritten-notes-auction/index.html

*In terms of FIAT not in terms of 16 BTC ...

I mean in terms of FIAT stricktly, would it be a good investment comparing with a paper like the Einstein one or compared with a Football, Pokemon card etc

It seems to be a historical collectible just like the newspaper where BTC was mentioned for the first time...(I do remember an auction for the paper was held on this forum, but can't find the link anymore, if someone can add it in this thread its merit worthy imo...)

Could this BTC outperform a lot of them? It could act like a cool piece on the wall, but better like some famous paintings etc??

Pieces with historical mentionings got value, but whats the correct price or how can we value a specific paper like this one and which will follow this Buy Bitcoin paper in the future?
There gotta be more of them...

I believe this is the link [SELL] Original Times Newspaper from 3 January 2009 - quoted in genesis block (https://bitcointalk.org/index.php?topic=397557.msg4292628#msg4292628)

Nope not the one

The correct has an auction starting at 40btc

They lowered the starting bid though… (it’s somewhere in collectibles)

Ohh yeah I think I came across something related to that Also , let's me drop the link if it's the correct one . Well is it this one then [Auction | NO MINIMUM BID] The Times 03 Jan 2009 | 10% to FreeRoss.org (https://bitcointalk.org/index.php?topic=5134423.msg50706702#msg50706702)


To be honest 16 BTC seems too much , but I believe in a long run it may tend to have higher value than that . Bitcoin is something that have grown with evidence that it's deserves all the respect it can get . So appreciating the things that lead bitcoin to this state it is now is another way of showing those respects, and it would definitely look good hanging it on the wall  8) .

The rich ppl are here, what bitcoin enthusiast wouldn’t want this in their art collection even if it’s piece #1. Not sure I would fork over 16 Btc but wouldn’t mind this hanging on my wall either. It’s iconic :-)

The purpose is making it more solid to uphold investors beliefs ,
For instance you have a software with users  and you sold the name  of that software written on a piece of paper  for a huge sum , you should expect more users of that software without stressing it,
The part of beign a good investment  in term of FIAT compared to other writings like Einstein is hard to determine because  I could relate something like this to that of a NFT ( some NFT bought with hundreds of thousands are now worthless now) just saying the opposite might be achived amd he mightsold it higher,probably  he's  just buying to add to his collection .... hang on a wall just as you've  said maybe forever.
The Seller bacame recognised   after he brought 3.7% increase in the price of Bitcoin besides he has being  digging for some time now  :)

In 2019, Langalis created and sold 21 replicas of the sign, which sold for an average price of 0.8 BTC, worth about $51,300 today.
Source (https://cointelegraph.com/news/buy-bitcoin-sign-behind-janet-yellen-auction-1-million)
This is soft... 8)

https://i.ibb.co/ZYdBm2Q/IMG-7674.jpg (https://ibb.co/fnMkvD3)

Another crazy collectible

What do we think?

Can this ever be sold for more

So many sats for just 1

Not too surprised  :)
If  this same people could pay outrageous huge   fees  to get  their little transaction in the last block before halving then they are capable of doing this too .
My question  is how's  this sat different  from other sats
Congrats to ViaBTC, they  must feel like a king now   8)

I feel like both of these (the bid for the first sat and the bifd for "buy bitcoin") are the result of people not knowing what to do with the money.

Nobody on a normal wealth level would do that. 33 BTC is over $2 million, which for most people is more than total value of assets they own and will own in their whole lifespan. For instance, both of my parents together, each living past 80, never reached that number, so you must already have everything you could dream of to buy a piece of paper with one word for a million dollars.

Value is subjective, but I wouldn't even have the money to buy that, even if I wanted to. Not to mention that I could think of a 100 things I'd rather buy than this.

Personally either if I could or couldn't buy it or let us say even if I had to possibility to buy it with pocket change.... then still I wouldn't just not that interested and to much sense of money not well spend, I get it that some people value those things at extreme prices.... But my priorities myself will always be different I guess.

Would I spend 1,000,000 on that sign no I would not.

Even If I was stupid rich (say 100,000 btc).

To be honest I would be interested to see if the buyer sells it again and what for.

Now if I was 25 with 100,000 btc I may spend it as a goof.

I can't really tell how rich people think
Well I guess it's a form of a bragging right
Like "well you know I'm the owner of the epic Sat in the fourth halving "
I will call it stupid but the buyer would call it a collectible.
I guess value is subjective.

If the buyer sells now it's going to go at a cheaper price except they choose to wait let's say years later
When the popularity of Bitcoin has gone further than this.
With 100K BTC,even in my 80's I think I would buy it
I don't know it feels like a form of immortalising oneself
The world would remember you when you gone.

In terms of BTC I don’t think there is a lot of profit in the future

When BTC appreciates in price let’s say 150k or 300k

Then I don’t think more as 16 BTC will be paid for the paper …

There are actions we just wanna carry out just to massage our ego in as much as the money is there to spend. It wouldn't necessarily seem like a waste to you by then because to you at that very moment it's like doing what many people can't even afford to do.

There are places I said to myself 10 years back I won't visit no matter the money I was going to make because at that time I previewed it to be a waste or something stupid to do with money. But guess what today! I visit a few of those places like thrice in a year now just because of the momentary feeling that comes with been there.

Money has a way of twisting our vibes, particularly too much money. ;D We just have to be patient till we have it in that bastard amount to know what we will do and what we won't do.

It would be best to hold on to Bitcoin, as we have a bull market to look forward to next.

#Bitcoin    is freedom money

https://www.talkimg.com/images/2024/04/26/rwZJb.jpeg

Source Link: https://twitter.com/BitcoinMagazine/status/1783610533632950766?t=uIXLQutyrFVhrbE34KWDjw&s=19

The "Buy BTC" sign is a real collectible, so I won't really care too much.

But, this unique sats is auctioned? come on, why more and more people are now treating Bitcoin as non fungible?

This sats belong to fourth halving, that sats belong to criminal, this sats belong to hamas, that sats belong to Putin and so on. If people keep treating Bitcoin as non fungible, they also have a fallacy like centralized exchanges who always differentiate between "tainted" coins and "clean" coins.

Source Link: https://bitcointalk.org/index.php?topic=5134423.msg50712466#msg50712466

You can get a lot of help from this post, so feel free to visit this link.

Everything that has played out to giving Bitcoin the edge it has at this moment deserves the attention and recognition they are getting and although 16BTC with the current fiat value seems abit high, it's still relatively okay to value such an historical piece that played a unique role in bringing Bitcoin to the limelight with such worth.  If satoshis white paper wasn't a popular resource that's in the public domain, it's most likely that it would have gotten similar worth as Albert Einstein note. At the end of the day, it's just a matter of contextual contribution to humanity, and when Bitcoin eventually gets the kind of public acceptance that Einstein works has from the globe, then pieces as this will go a long way to becoming of a higher worth far above what we're currently evaluating it now.

You are actually right bro, when I saw this your post I just smiles because as humans that we are, we sometimes find ourselves doing things we never thought of doing in the past, their is a saying about what you just said in this your post in my locality, which we most times have a good laugh at, which is;  a poor man will say that he doesn't like 🍻 beer because it's too bitter,  though it sounds funny but that's the reality of someone without money,  the rich thinks differently compared to the poor, they mostly do things they feels like an average person can't do, let them just be among the very few people that have the ability to do it, to them it's a plus to their name, while to a common man, it's just a waste of money.

Their was once a time I said that buying an iphone is a total waste of money, due to the fact that it was too expensive, and an Android is cheaper and it can give me all in need in a phone, and financially then, I wasn't that stable, but look at me today, I bought the latest iphone without even considering how costly it is because the money is available, so just as lida93 had already said, till we have money in bastard amount, we actually wouldn't know what we can do and what we can't do.

16 BTC for an inscription on a piece of paper, I feel is all about adding value or sending a message to the consciousness of people how valuable it can be to invest in BTC, and for that person to hold it in a public display in the parliament or that kind of setting sort of gives it a different aura, especially considering the fact that it's been televised.
So ordinary people give value to things they find passion for, just like in football, the boots KING PELE of Brazil used to play during his time can as well be placed on an auction like this too, and surprisingly you will see the amount people will be ready to pay to have it.

Sad truth. Another proof to disclaim Aristotle that humans are rational animals.
But buying Pele shoes is kinda different from this
It's inherent value was defined by Casey who is taking Bitcoin Sat's as ordinals
Satoshi never made any satoshi unique or better than the others 
https://ordinalsbot.medium.com/a-deep-dive-into-rare-sats-the-most-sought-after-collectibles-da167e355018
The link above would show it's definition of various Sat's and their raririty
These collectibles are no different from ordinals so definitely don't see it worthing the price.

Personally would rather hold a real BTC worth said amount than going for a Sat, not to forget converting BTC to cash would be way easier than the collectibles.
If I don't want to invest I can better still use the money travel around and try new cuisines

With Bitcoin expected to experience 33 halving
We would be seeing 33 epic Sat's
I'm curious where the previous three are located at.

Let's see how much the so called legendary sat would go for.

Yea, decision making when you don't have money can be reversed when the money finally comes, money has influence on human beings and thats why as an average or poor person, don't list what you wont do when you have money because a rich man will always want to do things to his standard, there are supermarkets and average stores, as we know, there price list may not be the same too, poor or average people will see it as a waste of funds by going to the supersmarket where prices are high to get some items because they will feel that since is the same stuff why will they waste such money, but rich people wont think that way, they willl see the expenses as nothing hence they can afford as many as they want.
Lets be sincere if the poor people eventually becomes rich too, they will still visit that same place that they perceived as being expensive earlier, thats life, poverty has its own mentality so do wealth and riches too.

My problem with this "epic sat" being auctioned and sold for 33.3 bitcoin is that it tends to make people believe that bitcoin is non-fungible when indeed it is fungible, this sat now has a different value and can no longer be interchanged with another sat of equal value, when ordinarily it should.

I don't have a problem when things like the "buy bitcoin" paper is being auctioned, of course it is non-fungible and there is something that makes it unique and differentiates it from other pieces of paper or similar writings on them, but bitcoin as a currency is fungible and any utxo should be interchangeable with another one of the same value.

You are very much correct in this part no doubt, but you also need to know that their are some set of people that money and power can't change, you see those set of people, they are mostly rare, it can be either positive or negative, but the main thing is that money can't influence them easily, they are still the Mr A or Mr B we all know, their behavior or their spending rate don't change regardless of the financial power they now have.

Am saying this because their is a man I know very well in my locality that is very crafty or stingy, he hardly gives out something easily even to his offsprings, due to how stingy he is, you can't know how wealthy he is because he hardly spend on himself talkless of spending on someone else, so you see these types of people, even money cannot change them, because they are rooted down to who they are.

It’s the rubbish I’ve been trying to contend with over the past week since I heard about ordinals. Just how did this mathematics came to be, where
1sat would be equivalent to a Bitcoin. I mean, where do we start this reverse psychology.

1Bitcoin is supposedly equivalent to 381825124.09316530 Satoshi (Value determined by 3Commas online Bitcoin calculator).
Mathematically:
1 BTC = 381825124.09316530 Sat.

Now, due to some ordinals we get the reverse psychology where:
33.3 BTC = 1sat that is:
12714776632.30240449 Sat = 1Sat.

All due to position and your just a collector. What sort of rubbish is that!
That’s some just how insanely humans could act. I ain’t collecting nothing for that.

1sat = 1 sat
Just as
1BTC = 1 BTC.

This maths applies anywhere, all I know.

@barikui1, we aren't ready for this debate right now, all am saying is wait till a man is in bastard money that's when we can say of his character but until then all I know is that there is that amount of money a person will have and he will go to places and do things he never was known for.  Some may not want to do them openly to public knowledge but privately.

Do your check carefully, there are other areas that man must be spending his money.

That paper has some value if it is placed in the context of the moment and time in which it was created - that is, as some kind of message to the system, given that it appeared behind Janet Yellen while she was giving some kind of speech in front of the US Congress. For this reason, I can find justification that someone paid 16 BTC for the same, especially if that person has so much BTC that this amount does not represent any significant expenditure.

There will always be some items that will be valuable to collectors, but only their "originality" and rarity will determine their price. If someone managed to write that same message on paper and take a picture with, say, the current president of the US - would someone pay more or less for that piece of paper than the one that was recently sold?

Someone will definitely pay more for it, hamans wants differs at every point in time and there is no way we can generalize what one will  want to do with his or her money with  that of others, am asserting that someone will pay more probably to break the record of the previous and gain fame as to this regards where references can also be made just as what we are doing now even in the future generations to come, there are those who derives joy standing out of the crowd to do what others can not possibly do which will give them a hedge over the others and make then feel they are the top class stratification that will always be talked about. However, every man will only make that informed decisions of spending based on his or her financial ability,  dreams and aspirations.

Personally I think I was more about sending a message to the public to impose some kind of thought to buy bitcoin, unless so I don't see a reason worth spending a million dollar on a piece of paper.

Compared to Einstein note I think this piece of paper could one day be sought for as a memorable historical art of bitcoin from its early days and it could be some kind of relic that bitcoin enthusiast would want to have, maybe to hang on
a wall or some collectibles etc, the rich have this habit of buying stuffs out of passion.

Thigns are priced by the amount of value given to them by a person or the public at large, so yeah it's possible to continue to grow in value as long as people continue to view it that way.

I wouldn't buy that sign even if I was a billionaire, because I don't see any significance in it. Yeah a dude held it and it generated some hype in Bitcoin community for a week - so what? In my book that wasn't a significant moment in Bitcoin's history. The fact that it was sold for $1M is just another example that there are Bitcoin whales who sit on large amounts of coins and can easily spend $$ millions on some overpriced stuff.

This is you sharing your own opinion on how you feel about it. On the other side, a lot of us wouldn't try to acquire any piece of paper or art that has no use to us, but these collectors, who like collectibles a lot, think differently, especially those rich Wahala's who are looking for means to spend and make some BTC and make things popular. 
 
What I see here is that some people use money to get more money or fame. That paper is hyped and is the perfect piece to get the kind of attention they need. It could easily be sold out again to another wahala with just a little hype on it. 

That's just it, most of this wealthy people does all this things to just show off or just to be among that few individual who have the financial power do it, it might sound stupid to the common man, but to the rich, it means a lot to them, and of a fact, this is just one of the stupid things the rich people spend more on, something they mostly don't need, and just as orpichukwu has already said, if they no longer needs it, they might decide to sell it to another crazy rich fellow, so that's just the reality.

And lastly, you also need to understand that most of this wealthy people sees money as nothing, because they have actually not faced what an average person usually face, so they spend money on things an average person will call stupid, just as this, so the truth of the matter is that, the rich, average and poor people all think differently.

For me I don't think it's only about the show of, most persons just attach value to what they like. for what it's worth, people who don't have that much of wealth too would want to do same thing if the opportunity presents it's self, so at some point too the money to gives the wealthy people the leverage to make people's passion come into fruition.

Sometimes people buy a painting of different inscription with millions of dollars which most people will see the painting as worthless stuff, However it doesn't show that they are wasting their money, they are buying things that are of value to them, the world may see it differently, but it doesn't change anything for the person that has bought it, because at the end of the day people will still have something to say regardless of the situation.

I think it is still a normal satoshi but it's also rare at the same time. I know there is now an NFT in BTC and maybe this epic sat is truly considered to be one of it? If so then I don't see anything wrong when people believe on that but it's up to you if you won't join them. We are not forced here anyway. Some people are only greedy and will always find a way on how can they make more money.

For me, I think what is crazy is not the epic sat but that piece of paper there called "buy bitcoin". In my opinion, it's not that even rare and anyone can do that. Sometimes I don't understand what is happening here in the world or with the people, lol.

It is not everyday that a "Buy bitcoin" sign is flashed in the U.S congress when the Federal Reserve chair is giving a speech, that is what makes it unique and there is no such paper like it in the world, that is why it is rare. Mind you that i would not spend anything close to this amount for this, but maybe i cannot be sure about that as i am not as rich as the BTC whale who bought it, it is better to talk about certain decisions when you actually can afford it. ;D

Hmm the sat doesn't necessarily has another value for everyone... it still can be spend as another sat, will not be spend as another one probably and will remain in cold storage until someone else want to buy it at a higher price (if the owner want to sell it) ... but its still just a sat.

That last part would be special, but I don't think it would be worth more.... back in the day (Yellen) then BTC was still more under the radar, not known as today... and it would feel like a copycat etc therefor I don't think the value would be close to the same.... BUT I do think if that same individual would draw a simular original and is close by the president on an important speech then maybe yes...

I also think over time the one who bought it for 16 BTC will be able selling it for more in FIAT terms (BTC difficult to say, depends on price surge) and especially on certain timings.

Nah pay more... for first a paper has to been spoken over and need to gain some popularity over years... so in BTC terms it will always be difficult to beat.
Imagine 1 BTC= 200,000$ then 16 BTC would be way more ...

Also the feeling of a copy thing just to sell it bc another one did well isn't what collectors are looking for, originality, rarity, historical etc matters

I wouldn't either buy it.... But it is a thing in my book of significant happening, it made some mainstream visibility and some good meme's etc ... also just the act of doing such thing is cool imho.

Also make me thinking

The very very first sat.... What kind of BTC would be paid for that  :o

Almost same thign as buying a lame NFT, i never really could wrap my head about NFTs or why they should have value but that's what it is. If an NFT could be bought for huge amounts then I dont think this buyer is crazy enough to buy this piece of paper, maybe he thinks it has value equal to what he spent on it.

What a crazy world you really can expect anything.

This threat also learning me a lot of different thinking about "collectors" about "collectors" intentions etc

ofc...

We have the I wanna do a Boss style action and be cocky spending a shit load of money/BTC bc I can and its like proving something similar like people going out to a festival (TML for example) and taking the best table with 100 bottles of alcohol paying 10-20-100k... just bc they can and want to be the Boss in their world of thinking.

Then we have the calculated thinker, knowing they buying a hyped piece which will be worth more in their mind and buying for re selling later and gain more, if it works then well calculated action. Buying and making profit is smart.

Then the collectioneur at heart... just collecting things they really appreciate and by buying giving things a value... Could be discussed, but by bidding and buying they set a standard for certain objects ... This also makes other pieces more valuable. Some people collecting stuff really appreciate it and they are happy with owning it and owning piece of that history. It's charming some people just are so interested that they wanna hold such specific things...
For me its the same like people owning cars, not to drive but collect, or wines not to drink but collect those are things that can be used for consumption or fun. Not like that paper or Einstein paper or paintings... But still those things also are being bought not for what they can use it for or for its purpose but just for collecting.

We can always discuss either if its worth it or would we yes/no pay such money if we would own that kind of money etc, but people is people and everyone is different, I wouldn't pay for it, but I can appreciate those things happening and be able to think about it, putting it in perspective.

I'm not for NFT's myself.. But it proves that digital property has value in collecting, main thing is prices will have to surge over years to become clear what the real prices will be... atm its just anyone guess and wild things happening as to many collections are coming everyday.

I don't own NFT's bc i'm not into it. But I do believe digital art will be a thing for some kind of collecting.

You are right here. Collectibles strengthen the value of owning digital properties. Over the years there will be scarcity which would give them some uniqueness thereby creating value. This goes beyond traditional digital files which can be easily duplicated or copied. Up till these days, the passion for arts is increasing so much. The rich now buy digital art for millions or billions of dollars not just because they are expensive but because they know that in decades to come the value of that art will be sold 10 times what they had bought it.

The secrets is give value to any collectible and you can choose to give it a price you want. Since your not a fan of NFT then it is good that you are a huge fan of digital art. Such that you are willing to collect as much as you can afford.

Although rich people has a different mindset and they easily identify things that can generate money for them no matter how the poor and average people see it, many things acquired by rich people today that's later sold at a very high price is just because it rotates around them, this things are been owned by only them alone thats why it gets much attention and hype, a rich man chase money at all cost but a poor man always evaluate risk because they understand the negative effect if they eventually lose the money but a rich perosn already know how rich he or she is, so losing a pinch will not have any effect on them.

Rich fellows take more risk to make money but a poor or average people doesn't see risk as a good thing, realistically most time this mindset of not taking risk at all keeps individuals in a particular state because I believe that calculative risk do exist and if anyone wants to grow financially, risk must be involved.

What makes some whales spend money the way they do is not that they do have it so much so that they don't know what to do with it  but some just care so much about history to the extent that they just want their path or name to be held in history even after they have long gone by doing what other whales that don't give a damn about history wouldn't bother about despite how wealthy they are.

Just as you had rightly said, "that it's now a thing in your book of significant happenings",
and this is not just you doing this there could be a thousands of  others that would have also saved the date as significant too. And probably that was what the buyer of the piece had visioned in mind before taking the step to acquire that sign. And achieving this aim alone could be sufficing to him more than what he would probably sell it for in the future.

The main problem in early stages will be

A lot of people knowing each other driving the price of a few specific items and creating higher prices for them… then a unknowing person buying at a to high price for a worthless piece being stuck to it… but yeah DYOR and buy what you deem worthy I guess

This intention appeals more to me, i do not think some of the rich people who buy these collectibles actually want to sell it in the future. For example, if bitcoin continues to grow like it is doing, then this "buy bitcoin" sign might be worth more than it was bought for in the long run; but i don't think most people who buy these historical items think like this.

They basically want to hodl a part/piece of history and i am pretty sure that is so much of a good feeling, of course one must have the money to buy and own it, but the end goal is prolly not to make more money from it later on.

It somehow seems to me that such a sign with the "signature" of the US president (regardless of who he is) would be worth much more than 16 BTC and in any case more than $1 million. I'm just starting from the fact that the US president is perhaps the most recognizable political figure for many, whether it's the US, the EU or the UK, and that a lot of people would be willing to pay a lot of money for such "art".


This is very likely possible, because regardless of the fact that $1 million seems like a lot of money to us, for some others it can be a real trifle. However, everything depends on what will happen with Bitcoin in the following years, because the value of such items will largely depend on how popular Bitcoin is at some point. Anyone who ever wants to sell it should choose the right moment, because the previous owner obviously judged very well when to offer his "work" to the market.

Probably a lot more than we can imagine, they seem to tag price and value on them based on how uncommon what they want to pay for appears to be, and for whales, which so much care about being the first or only person to hold the very first pieces of it, that's if it's on NFT form, is ever ready to offer what other whales can't, that single first ever sat they will boldly tell you it's priceless and whatever price they tag on it is definitely worth it. 

In the NFT market, what actually happens most of the time is that one person can appear to be three different bodies with a lot of funds under their control. Now they create different wallets, not linking any of them to the other, come for a particular NFT, use one account to place it in the market, and use the other to buy it at a specific price.
 
After some time, they use another account to buy it at a much higher price. The more they continue rotating this either within a different wallet controlled by one person or the same body, the more they are also becoming aware of how that particular NFt has been making so much gain.
 
Whoever buys those lies will become the victim, as they will be ready to pay twice the present price just to acquire it, hoping to sell it back to the market at a much higher price. Most of the time, it all ends up with them unless another whale falls prey.

I think apart from the items that we often use in everyday life, only Bitcoin is more worthy of attention and continuous purchase and this can be done by people who don't like keeping cash in their own wallets. DYOR is necessary because it will lead everyone to think independently about what they want to buy. But in the end there are always many people who are willing to admit Bitcoin as the best to buy even though they have previously spent more time doing research on anything in order to find something more worthy.

That would be the case but I don't think that anything changes to bitcoin, that sat will eventually get mixed with the other sats out there, what's the big deal? It's a stupid thing that they're doing this thing, it's NFT all over again in my opinion. I can only imagine this person not being careful and then selling this exact sat, that would suck if it upholds it's value and it didn't become as you've said just like any other satoshis out there in circulation.

It's actually true that Bitcoin is one of the most sorted after asset in the world right now, and we are a big fan of it no doubt, but that shouldn't blind our eyes to be wasting our money, by buying something like this that is a total waste, though I haven't gotten up to that level were I will even think of spending on these kind of things, but I would rather invest in something more better, which is real estate, than spending  a crazy amount of money on a stupid thing, just to message my ego.

Lastly, it's very good and logical to do your own research in any investment you want to venture into, so as to be more enlightened on what you are venturing into, because I believe that if a proper research was done, that investor will also sees it from the same angle we are seeing it, which is a total waste, unless he just want to sell it to someone as crazy as he is.

Pay $1,000,000 dollars for a piece of paper... Is it a page from the book of life? Will my name be written on it that will guarantee me a place in heaven?

I cannot fathom why anyone would pay such a crazy amount for a piece of paper that would add no value to his or her life and I wouldn't do that even if I was the richest man on earth. People are suffering all over the world and if I should give it to charity, thereby putting smiles on their faces or giving them hope not to give up, then it'd be money well spent.

Actually, this is the only scheme, and not only a lot of people knowing each other, but often just only one person, acting with different wallets.
Market rigging at its bests, like good old times in traditional markets.

I feel it's similar to how emotional attachment towards an object increases the value in cases of law suit.
Like say a watch whose value is just $10 and it's a family heirloom or even something that's emotionally of value to the owner
If an individual causes damage
The court wouldn't make the suspect pay the market value but also cover for emotional damages.
What am saying is value of any object is subjective
Your thoughts went into charity
While others into gaining more or immortalising themselves.

I ws just wandering if this Same piece of paper or that 1 SAT  8) could be auction at $2M  in the next 2~3 years.... let's see who's gonna make it value increase or we could just call it manipulations :P

Its all a part of an investment risk just as any other investment you may know, the value go could peak high or get wasted low with years. All about these paper is that the source of it's value are the people and the people's view towards it is a veritable determinant in driving it's value. You could be shocked that the sign could worth beyond $2m in next 3yrs the next time it appears again on auction.

Manipulation too is another ploy used in giving value to some of these collections, they could just make it disappear from public for quite a long time and boom, one day they just showcase it into the market and you see a lot of hands bidding for it therefore topping it's value.

What you should understand is that in every investment two things are bound to happen, is either the value of a  potential asset drop or rise in a given period of time, the market value of every commodity or asset is been triggered by the market force or influx and this market force is cheered by investors, without investeors in bitcoin and other cryptocurrency they would have not been in existence, although we won't dispute the fact that in every investment, there are maximalist strategist, we shouldn't forget that maximalistic strategist have a way of adding value to the market.

Group of rich folks can decide to pump this paper in the next 2-3 years as you said with maximalist strategy and with this idea we may see this piece of paper going higher than we expect, lets not forget bitcoin value was not as it is today, but the progress bitcoin has made so far is because of whales and maximalist strategy which can also be applied in any other investment.

This does works and the target can be completely clueless on what’s been done. That’s why auctions could be a madman’s den at times. Insane prices could go for just any piece from a famous dead guy who wasn’t very good in art or have an item featured in a famous battle or been to certain places.

More and more searches are lunched to getting these antiques, get it dated and there it goes with the price for collectors to pick it up. You wonder why they don’t keep ot for themselves or have it as a national treasure, which goes for some antiques and the nation of origin.

Well, am not a collector so I wouldn’t know, don’t see how am supposed to be amused with having this 16BTC in an item hanging somewhere if I don’t get to make money off it although, some of these could serve a means to preserve wealth and that’s only if you can be able to resale if need arises.

Either way, collections and collectors of stuff is another level of insanity, you really don’t get it if your not into that kind of stuff. I mean, trying to wrap my head around it alone tells me, I can’t find any reason and that’s just to say, you ain’t in that level to this yet. I hope I don’t be!

Usually auction items or items at low prices will be a special target for smart people who have a lot of money if they already know the true price of the item. And in fact we can also compare this to investors and traders who at the beginning of last year also took the opportunity to buy more Bitcoin at low prices with the aim of making more profits through that. And we ourselves, who have also seen this, don't want to just miss it, especially as we have also done research repeatedly on certain items or on Bitcoin which we are familiar with up to now.

Every single thing that has given bitcoin the edge it has at this time deserves all the attention and recognition they are getting.
However 16 BTC with the current fiat value seems a bit high, it's very much okay to value such a historical piece that played a magnificent rule in bringing bitcoin to the limelight with such wonderful worth.
If satoshi white paper was not a popular resource that's in the public domain, it's most likely that he would have gotten similar worth as Albert Einstein.
At the end of the day what's more important, it's just a matter of contextual contribution to humanity, and when Bitcoin eventually gets the kind of public acceptance that Einstein's works has gotten globally. Then pieces as this we go a long way to becoming of a higher worth far above what we are currently evaluating it right now.

That's just the point bro, if it's that's treasurable why didn't they kept it for themselves? These people knows how most of the rich thinks, and especially when the goods in question is being auctioned, they knows that their are crazy fellow out their that would just want to outbid everyone, just to prove his or her financial superiority among his or her pairs, and most times it's something that would not be useful or productive too them.

That's why I really do believe that this particular purchase is all about ego, the person that bought it just want to be among that very few people in the world who has the capacity to pull such a move, because I don't think he is going to make any tangible money out of it.

This all depends on the person who buys it and what it worths to them. Even if I had a billion dollars in my bank account, I am not even saying my networth or what my assets worth, I mean literally 1billion dollars in my bank account, I would still not spend a million dollars to this because I do not think that it worths anything, to be fair I would not be interested in this for even a dollar, it has no value to me at all, it's something I would trash and not even think about it twice.

However, according to some people apparently it had value and it did made some money for that person. Which is why what something worths is depending on the person who is willing to pay that much for that person and not for everyone around the world, quite similar to art as well.

This is an interesting discussion to have, but I doubt there are any reliable frameworks to come up with a "true and fair" value. At the end of the day, it only needs one freakish investor down the line who wants that piece of paper from you and is willing to pay 3 times the price. I am sure that most of us here have been shocked at times reading how much people are willing to pay for the weirdest items. One example: First-generation iPhone sells at auction for $190,373, or nearly 380 times its original price (https://fortune.com/2023/07/19/first-generation-apple-iphone-sells-auction-record-price-over-190000/)

If I had ever thought that this would one day be possible, I'd have stocked up on those iPhones. I believe this things like the paper you mentioned can indeed have value. But how much? I stopped being shocked about collectible items or historical papers and how much they can make you in an auction. To anticipate values is so difficult because as a response some people will collect some electronics out of principle just to realize that those items will never be as valuable as this aforementioned iPhone generation.

I think it could be dependent on the narrative that you yourself could put out in public. If there was an auction of a pokemon card, isn't there huge incentive for the pokemon inventor (company or whoever) to go there and pay an absurd price? Stuff is all over the place in the media and people start buying these cards hoping they get lucky or something.

I had still been giving a lot of thoughts to this topic and I still feel that this wasn't a coincident or just some show off of wealth, I think he was trying to pass a message of BITCOIN IS THE BEST or get normal folks to see some kind of reason to get bitcoin, note he didn't pay in fait, I still believe that bitcoin is a better kind of money than fait and any wealth folk would already know that it's better to pay in fait than in bitcoin, ikay yeah if he didn't have any money around, its woudl be so easy for him to write a check or maybe a loan from the bank and that would be so easy for him, but rather he chose to pay in bitcoin, and what woudl do you think of that?, to me a it's a word of advice, if you want to get rich, BUY BITCOIN.

I disagree with you that is about ego, you don't cherry pick what you think is worth something to yourself and to somebody else. What you feel has value might not be seen as value to somebody else, and that is nature for you. let me even ask you, if those things you think have value where not having monetary attachment to them, whether the amount is big or small, do you think you will see those things as something of value, take for instance a diamond, which we all refer to as the precious stone, what if there is no monetary attachment to a diamond, would you still see it as something worthy of value?.
However My point is, people give monetary value to what they feel they're attached to, irrespective of what the world will think.

This same thing happens to those shitcoin people buys out there thinking is the best thing to invest on, same way I don't pay much attention to NFT's same i don't give a listening ears to NFTs because it could be manipulatives and same groups of people would keep playing over the price to drag the attention of other people to venture it to as you already, whom ever that wants to go into that should thoroughly do their research since is overly manipulated.

Well, in this case you could also argue the other way around and ask "why did he choose to give away some of his precious Bitcoin and didn't instead use fiat to show that people should get rid of their fiat and rather buy anything related to Bitcoin?"

Either way, El duderino_ was more referring to the question how to determine whether a certain value, a price paid for a collectible of that sort. I think it's dangerous to go for something because someone else did in a very unique case as you don't know who the person is. Someone could have bought a rare version of a paper or magazine he already owned and has some more lying around. Or whether it is someone who absolutely doesn't care what a piece costs when they want it. That skewes price efficiency for the average guy.

I'm not a collector so I can't comment more harshly on their decision to buy RARE items related to Bitcoin, but to be honest, they actually want to make history, just imagine what's the point of those who buy a piece of paper "buy Bitcoin" worth tens of BTC! if not to make themselves famous, then many times the goal of rich collectors is just to find a big name or become a legend.

people could actually buy collections for the sake of collecting, perhaps out of admiration, but there are those that buy for the sake of saving their money through collections, you see them buy many of these collections stack them for the future rather than having those money sitting in bank accounts where eyes could easily notice their networth. This is just how some of these wealthy people could choose to store their wealth against the future and  they can always sell any whenever they have a demand for bulksum of money and the chances are that the could sell at a price 2x of what they bought it.

There is no certainty that the price of this artwork will appreciate in the future. Sina Estavi (https://techpoint.africa/2022/06/07/why-buying-nfts/) bought Twitter Co-founder, Jack Dorsey's first tweet as an NFT at the price of $2.9 million because he thought the price would skyrocket in the future. When he wanted to sell it the highest bidder priced it for $277. This example doesn't dispute the fact that other NFTs' value have increased.

Some NFT analysts believe that people buy these NFTs artwork to build brands around them. They gave an
example of the Bored Ape. This NFT artwork has been used by many companies to brand products. Since this artwork is popular business products can be branded and promoted with these NTFs.

I think you've forgotten  that this is just a writing on a piece of paper with a signature  :P and on the other hand we have a SAT just like every other SAT being auctioned and sold at that huge price.
Their value can get pumped only by the same set of people who started the auction and are  interested  in keeping such ....it's  not really a solid collectible to me.

It's not solid to you, but it is to them. That piece of writing is valued by those who see value in it, just like some old forgotten African history arts and idols, which are worth a lot in the market by those who have needs for them.
 
No matter what the thing which is placed high value on there will definitely be people who will be interested in it and we be ready to pay anything just to grab it just like millions spend millions to acquire an art which took an artist just few days to draw

People don't buy these artwork because they are certain about the future value of the work skyrocketing profitably for them, anyone that has ever bought an NFT does it as with the ideology of every other investor going into the investment of any other common potential asset. For NFT just as it's been clearly narrated in the article you provided, I get it's value from the people, it's the people that gives it the value any NFT could possess, and just like the Bored Ape which was initially bought at the price of $200 but currently about a million $$ (don't you still it could depreciated below $300) now all still to the value from people such as the brand promotions it's getting with business products. It could still lose it's value in future if those promotions no more comes. What am I saying in essence? It's that whether be it the NFT that's making appreciation or others that aren't, they were all bought out of uncertainty about it's future value - investment risk

You don’t need to on this one.
I just jumped on eBay to see if I could find the item, first generation iPhones and it was right there, offered for sales by some vendors. Some still comes with a price ranged $80-400 but others was in the range of $1.5k and below. I guess these are the once that have heard the news on what it’s going for in auctions and decided to up the price while, the once with lower prices either haven’t heard the news or are replicas.

I’ve got reasons to think that the one that sold for an insane price as stated in the auction could be the prototype but, shouldn’t that be an Apple’s priceless item, well that’s the point, owning the supposedly priceless item but, it doesn’t mean much either. I would still be seeing just how much I spent to get that thing should it not be giving me some return on investment.

By some means, it’s a matter of getting these things to the auction house, have a baked story for it and yeah, it’s got to be original, then your sure some dude with just enough dollar to not have needs for it would pick it up as his or her collection.

No, the point was that it was still in its original packaging. But you can see that it is hard to understand how the original packaging makes a difference given the fact that these items circulate in the millions around the world. But why did somebody now come up with with the idea to pay $190,373 for that iPhone at a public auction? I question the intent people have to pay seemingly unjustified prices for some items. As I said, maybe the buyer has some more of those items himself and is trying to establish a certain value perception to then profit from that later down the road? Could be the same with other things like discussed here in the thread, could be many reasons.


That's the point. Once you got it to the auction house, the item gets the visibility needed to draw attention from some guy who has been looking for whatever reason for this particular item. In a best case scenario there are two guys, but the thing is that auctions enfold this dynamic among people who have initially not even been interested in that item. But once someone says price A, someone else rich enough might feel tempted to give it a shot, too.

You are right here. When it comes to digital acts, not the artwork that is most beautiful or realistic. I have seen abstract paintings and some symbolic paintings that are worth more than a regular painting that looks so beautiful.

The thing is that most of those abstract painting conveys deep emotional messages and drive a feeling to the collector. Thus, such a painting has value, any collector would bid so high ti have that painting.

To be honest, 16 is not a small amount, for those who don't know clearly and then find out about the reality, maybe they will feel that they are dreaming and may even faint. However, considering that BTC tends to be profitable, in the long term it will definitely be profitable. because I think BTC is something that is developing all the time, even though there are times when it goes down, it doesn't rule out the possibility that it will rise again skyrocketingly.

Of course, everyone's priorities are different and I don't think that's a problem, the important thing is to respect each other. with those who can buy it, I think they are rich people who are really rich, of course they do this and they must have certain reasons, maybe like collecting them.

I wouldn't pay this amount for an item as well... but I did pay more for certain things as what they where worth initially. Not the nrs worth mentioning like the paper etc.
Now in wealth comparison what for me is 1k can easily feel the same like 1m for somebody else ... so being super rich is a factor. 1k and 1m being the same feeling for different people comes in play.
I would say even if i'm the richest person in the world I wouldn't pay for such thing... But maybe when i'm in debt or have 0 savings I would say the same for an article of a few 1000 dollars... So not being the richest kind of people makes us say we wouldn't buy such things. But what if we where among the richest then certainly some kind of guilty pleasure would come in mind something we crave for... I think most people wouldn't give it all up for charity and maybe give a small part up for it, but surely most people would buy the stuff they want. Could be luxury items or crazy houses and holidays etc... But actually buying things like the paper isn't that bad bc it cover some important aspects it could serve as a guilty pleasure that makes you happy and being an investment at the same time, not losing wealth and being an investment at the same time... There are so many ways of discussing these things that it becomes more and more intresting.
On the one way I would say never buying on the other way I would say its a genius thing to buy.

Currently, many people know that Bitcoin is the best asset worth buying because those who like to buy it have also seen clearly that Bitcoin can still increase again after experiencing a decline in prices in the market. And those who take advantage of this are not only rich people, but simple people who are not yet rich also take advantage of certain moments to be able to buy Bitcoin when that person already knows about Bitcoin. So something like this is certainly not surprising because everyone who buys it is also based on the abilities they have at that time.

Everyone's priorities are different regarding anything, but for Bitcoin, I think almost everyone has goals that are not much different when they find out that Bitcoin can be used as an investment for the future. So the rich people who buy Bitcoin of course also have a goal in essence, even though they don't reveal this goal to the public so that other people who see their activities only want to collect it. Even though they have more goals than just collecting them, if what they buy is Bitcoin.

This.....

Might still feel so hard to buy for some of these peoples
Some only priorities on the pleasure  with nothing to gain in return.....
Although to me I don't feel like it's some kinda  investment but if someone sees it that way then he/she is free to invest like you said what  feels like a $1 might look like a $1000 for another

I am pretty sure that this is yet another attempt for money laundering and nothing more, or maybe just a method to tax deduction and nothing more. Those two reasons are quite common in the art world, when you see something and it goes for a million dollars and say "this painting is just red canvas and nothing more!!  how could it be a million dollars!!" well that is the point, they do money laundering, and artists are aware of it and in on it.

You end up paying that much, and you launder the money, OR you just pay that much, and deduct that from tax, then give it to your friend for two million next year, who deducts it, and then he gives... and it goes on. Real art and fake art are obvious from each other, you will understand the reason when you see a fake one. This smells the same way.

I concur on this. Rich folks like doing crazy things just to gain attention from people. Maybe  $1,000,000 might looks like 1k in his eyes but that doesn't mean he should waste It on a piece of paper.if a billionaire can waste millions of dollars just to visit the already wreck Titanic Ship very deep beneath the ocean,then I am not surprised on this one. They love wasting money just for pleasure

This also can be a reason and something to consider... But I don't think its on all the occassions

I agree with you, sometimes we just view thigns from our perspective and conclude at our level, I won't be surprised to find out that the persons that bought the paper hardly felt less rich after spending such amount that an average person wouldn't dare to spend on a piece of paper and most folks would say they would never do that but you can never tell since your not that rich, it's just like saying I'll never spend a million dollar on a car but there are people who said that and when they got wealthy they still did, so I like to view this more like someone flaunting his money on something he values and thinks is worth spending his millions for, and we can agree that value is relative to individual perception, i might think its absolutely better to have a gucci shirt and own diamonds and luxury cars while another would consider my lifestyle with less value and would prefer to spend money acquiring relics, arts, books and all the weird stuff, so I think your right about this.

In crypto-BTC related stuff i'm curious which will be the next highly priced items (only the exectional stuff) if something comes up you can always share it here...

I was thinking, you know bitcoin has an original logo before someone else designed this new logo anonymously, you can check that out in bitcoin history.

The original logo was BC engraved on a coin.

https://talkimg.com/images/2024/05/28/LsB1m.jpeg

But i think it would be best as an overpriced Nft

What do you think?



I hardly think this was used for money laundering, no money laundering would buy an under valued piece of art if his intention was to sell it back unless there was already a plan between him and the seller to in some way get his money back behind the sence after the deal is done.

This is a mere piece of paper just written buy bitcoin on it and someone payed millions for it, the whole senerio looks more like a flaunting or showing off of money than some set up stuff, so I would disagree with you.

I've looked into it and I did some research, that's not the way that money laundering works

'Overvaluing or undervaluing artworks, using intermediaries for transactions, creating false provenances, or rapidly trading artworks to create a confusing trail of transactions'

, it's has to be something of value at least worth the amount that they want to buy it for, then they would have a line if buyers that they woud sell over and over again to leave little trace and then the final buyer that would give them their money, if anyone thought of doing that then it must be some long term plan.

You can read more about how arts are used for money laundering here.
https://alessa.com/blog/art-money-laundering-explained/#:~:text=Art%20world%20money%20laundering%20employs,a%20confusing%20trail%20of%20transactions.

Auctioning allows inflow of clever and intelligent people in a system, productive minds approach any price drop or action as an opportunity to dive into a system and in so doing there is this kind of force that they bring into the investwment terain, most times they are after purchasing at they lower price first before figuring out a way to make the investemnt a valuable asset, lets not forget that people never expected bitcoin to be valued as much as it is now, many people has the oppotunity to own some bitcoin for free but because of the  reluctancy and doubtful attitude they couldn't grab such opportunity, ordinarily investment pushups will be due to the interest of the people, soon this paper might be another valueable investment, Bitcoin was called all sort of names, here we are today Bitcoin is the most valued money both in digital and note currency.

It could well be an investment because it can also be sold in an auction sometime in the future, and if bitcoin keeps growing and developing at this pace, then it would definitely be sold for a whole lot more in the future.

That is one way to look at it, another way is that people who can afford this sort of expensive, rare and unique piece of history, wouldn't be acquiring it for the profit they can make in the future, and come to think of it, they are already so wealthy and have so many different investments, thus collectibles like this is basically for their pleasure, but not so much for the original owner, who had to monetize it and make good money for what he did.

Thx … learning something again… been involved long in the bitcoin space and didn’t knew that logo thx

But still an NFT will always have a dicy side … that market will have to figure out there prices first before they come to there true value

I do believe there can be a market for it and people collecting etc
But at this time there is to much crap being created and to many collections of just some dumb shit etc

But at some point there will maybe be very unique things with a value and purpose…

You are correct in what you have said. Most rich people work so hard these days to make sure that their children's names are popular in the future. That's why they send them to most of the highest and most popular schools in the world. However, some folks spend money on themselves and their family just to make sure that they get everything they want. And most celebrities today use their influence to sponsor others that are upcoming. From this I wouldn't doubt that most people that invested big money in Bitcoin do it for history to know their name (e.g). For the dude named Lazio who bought pizza for about 10,000 BTC. His name spread all over the world. People that have read some histories know his name.


As this is concerned, it's possible for anything to be a NON-FUNGIBLE TOKEN, so maybe the dude who bought the paper with the sum of $1,000,000 didn't know that one million dollars could buy him something that's more valuable than just a piece of paper. IMO, It might be the paper he bought means something to him, but since the paper is not a good store of value it isn't worth such an amount of money, 16 BTC is not just a word, it's something valuable. People that don't have the money are struggling to achieve just 1 BTC (although this is the difference between the rich and the poor).

Just too much of it especially for NFTs
I've been thinking about what could be next highly  priced items
Maybe an Art of  the first commercial  transaction  that made btc well known till today.... The Pizza BTC art could  be made in a dynamic way  

The main reason I thought this could be a thign, just like this incident where someone decided that a piece of paper written buy bitcoin from years ago meant something to him and would love pay huge amount for that peice, just same way some might see this bitcoin logo as an art worth having and I wouldn't be surprised.

But since it was not a physical part of the history of bitcoin then it could be remade as an NTF and that way some rich collector would go carry about it, the design and maybe adding more art to it might add some extra new meaning and make it priced more.

This logo was first implemented in the past, but now the logo has been re-designed to become the current Bitcoin logo. But it will be more beautiful in the future and those who hold Bitcoin will own the most valuable assets. Because we usually see the price of the 2025 bull market that those who haven't held Bitcoin will be shocked.

I never seen this Btc logo before but the design is very beautiful,thanks for sharing it here.

I think in Digital art it just needs to separate it selves from the just ordinary dumb drawing images...

For example some kind of art work with a kind of utility like a brand new Pokemon card game with a decentralised distribution of card selling.
if someone would be able setting up an online shop code created with the same kind of RL cards... just the booster boxes, card packages but where no one knows which card are in the packs. When someone buys it its a surprise for everyone what comes out. Then creating a kind of space where we can play/fight with those cards and winning other peoples card or winning some points or a which can be valuable for something else... or By winning making the card more unique as it was before increasing its value or ...... Just an example ...
But main thing is each packet bought must be unknown whats in it and every card has its unique code for its owner, I mean many ways to set something up. but it must be flawless and perfectly worked out to separate it selves and to be unique. Not that it must be pokemon, just an idea of something that could create an online value space for some NFT-online Art kinda thing.

In the future more painting and more artwork from Bitcoin will certainly come up and people will spend reasonable amount of money in just having it for themselves. The other day, kylian Mbappé spent a whooping sum of £520,000 for a painting of king pele of Brazil. https://www.getfootballnewsfrance.com/2024/kylian-mbappe-spends-e520000-on-a-painting-of-pele/
As time goes on, people will always spend good amount of money for something they have passion for or can identify their passion with. You and I can actually put up a nice painting of Bitcoin logo that can be eye capturing with all the aesthetics, and we decide to auction it online for people to bid for it, don't be surprised we will see somebody that will be ready to spend a fortune just to get that piece of artwork in his house.

It’s obvious people get attracted to what they love and want but I don’t see myself spending a huge amount buying what’s not valuable or what will not yield profit within a long period of time. Let’s just say wealthy people will buy without looking at the price tag or the value but we should not expect everyone to do same like buying a low value stuff with a huge amount of money.

As an average man I would always buy things that I have passion for as long as I can afford it. I wouldn't blame kylian Mbappe for Spending such a huge amount of  money for a drawing, the painting remind him of an old friend that he honors so much.  Sometimes I don't blame the rich folks the way they spend their money,what's is the essence for been rich and wealthy if you can't spend extravagantly  for things you love and desire to have.

Something like this already exists, in the early history of play to earn games many companies used this model for thier games, I did some research and one that best fits what you described here would be Axie Infinity,

 In the game Players collect and mint non-fungible tokens (NFTs) which represent axolotl-inspired digital pets known as Axies.These creatures can be bred and battled with each other within the game.Sky Mavis charges a 4.25% fee to players when they trade Axies on its marketplace. I can't go into much details about them but this is a link to read yourself https://en.m.wikipedia.org/wiki/Axie_Infinity.

They had an estimate of over 2.5 million active daily players.

Although this company later faced series of loses from hackers losing a whiping fortune of 620 million $ to a hacking group named Lazarus group, I really feel bad cause a lot of people were already adopting it as a side hustle to make money, it was very lucrative and intresting to play at once, although i never tried it myself.

I guess I should put in a picture
https://talkimg.com/images/2024/05/29/LrSac.png

I think this was not the only logo bitcoin has used according to research bitcoin also use another logo before the new logo was used and this was it.

https://talkimg.com/images/2024/05/30/LLoI5.png
To learn more about bitcoin logo history you can click here to learn more The Bitcoin Logo: Backstory and Symbolism (https://www.zenbusiness.com/blog/bitcoin-logo/) do you know that the current bitcoin logo we use today was designed by a forum user nickname Bitboy who redisigned the formal logo to the latest one we all are using today and was used by Satoshi Nakamoto.
https://talkimg.com/images/2024/05/30/LLgeq.png

So far so good, in the little knowledge I have gathered, I don't think this is just about attraction, remember that I have said it earlier that the rich thinks differently from an average person, so in this case, is either they sees opportunities that we aren't seeing right now or they just want to flex their financial muscle just to show off, and in doing so, they are very much confident that they wouldn't run loss, because if they feel it's no longer beneficial to them, they just sell it off to another guy crazy fellow, just to recover back their money.

And another thing that we just need to know is that the rich mostly care of their happiness, not how much they are actually spending, because having money is just a normal thing to them, so they don't rate money that much the way an average person does, so in essence of all this is that they are either doing it for their happiness, ego or they sees opportunities that we are not seeing now, so it definitely boils down to any of these.

Ah cool never seen before...


But I do think a game or something like it could create a collectible kind of world were people could be in for...

it just need some random distribution etc

Random distribution would play an Important role in the game, so that getting unique nfts would be based on luck but I think it also needs a well functional marketplace for those nfts to be traded, and that was one major challenge that Axie Infinity faced, they has to depend on a inflow of new comers for their system to be fully functional.

Anyway I think the world of NFTs and gaming us still under development and not too long we would have a very cool game where people could earn or mint nfts and earn cool cash.

I think the contribution of certain historical moments to the present and the future is mixed with opportunities, especially investment opportunities and inspiration. These are the moments that inspired Bitcoin evolution and its massive market today and in the future. Actually 16 Bitcoin seems like a lot but of course there could be many factors behind it. It is not just a piece of paper it is one of the historical moments which I am pretty sure will increase in value in the future. The significance of this can certainly help provide investors with insight to better navigate large assets like Bitcoin.

I will say it depends on how much amount of BTC or the quantity of Bitcoin and investor was able to stack or store for a Long period of time that will determine how much profit he could make . Bitcoin investment is best profitable in the future. When an investor don't have a good stash of Bitcoin in his portfolio even if he was able to hodl for long I think that is when the profit gotten with be enough. So most investor aim is to gather a good quantities of Bitcoin and hodl for longer period of time before thinking of taken the profit.

Rich people really do not know how to spend their money, I mean why would you want to buy something like this? I get that it's bitcoin history, but it is not even that much of a big history of bitcoin at all. In fact, I would say that buying this for a million dollars is a bigger history of bitcoin then the paper itself, doesn't really make sense to me that it would be something this big and I would say anything more than one bitcoin is way too much for this.

I am not saying that I would pay that much, I know that it won't and the resell value of this is nothing, I am just saying even if I had billions, the most I would pay for this would be just one bitcoin and nothing more than that, it doesn't really make sense otherwise.

Hmm make sense... something  like a  virtual  collection to physical collection.
The randomness(by selection or distribution) and surprise could be made virtual then the physical  collection could be packed and distributed  each  with a collection  ID .... I don't  know if I'm  on point  here.

Rich people do things to their standard, you may see it as reckless spending but most times they do things with information and Believe that it can be valuable in the future, the value of every asset is as a result of individual force which is the market for in reality, no one knows what the future holds, we never can tell what will become of this paper in the future, this paper may become one of the most valued asset, the amount that was used to purchase this paper may look outrageous but you should also know that this may give individuals reason to buy this paper too before you know it there will be more interested individuals in the system, I know that different people have perception about things but I don't think this paper is money laundering in disguise, I just believe that there is another form of investment coming soon.
If you won't pay much for this as you said, what if you wake up one morning and hear that this stuff has pumped in price won't you regret it, values are added to thing by humans for that reason every sellable item is an asset.

Before the rich would spend money on digital art or something we see less is because value was giving to it. The digital marketers would always say you can sell anything to anyone as long as that thing has value. If we go to recreational places and center our attention in the art area we would notice or see sculptures, paintings, artifacts and lots of objects. The poor sees those objects as normal things but the rich sees them as precious and valuable objects. They can spend 5 million dollars on such object and because if his personality he can resell that object for an amount three time the actual amount. And we may wonders why? Yes, for buying the object his reputation has giving it more value that is why whoever next that is buying it would consider it valuable and would want to pay higher for it.

For those who buy Bitcoin with that amount of money, this is quite courageous, because basically Bitcoin is a digital currency that does not have a physical form and has a very high risk which could result in the assets we own being lost if not used. take care of it well and correctly. But the benefits offered from Bitcoin are also very large because basically Bitcoin still has the opportunity to become very expensive more than this.

It doesn't require much courage to but bitcoin, beside bitcoin is one of the best asset in the world right now and all those that have gotten in are still blind or haven't realised that bitcoin is a better store of value and currency that faits, I Don't want to dive into all the importance and difference between both of them

I agree with you that rich people spend money recklessly but we still have rich folks that channels their money/wealth wisely into meaning things,meaning things like investing on Projects that will create employments, Donating huge amount of money to the vulnerable/Charity homes,contribute immensely to community development.

The rich folk that splashes a million dollars on a piece of bitcoin paper might look like a reckless spender but you should also know that our ways of seeing things are different. I don't thing he would buy that piece paper if its not valuable,that piece of paper he bought can appreciate in values and can be sold in the future twice the amount it  was bought.

Maybe its because we are not rich to a certain extent whereby our thinking and mentality will be obviously different from others, if you had known the brain behind what makes the rich maintain their wealth, then you will also discover that there kind of decision on this is not weird at all, first of all you will have to agree with me that this is also a means of making an investment, not only that, we are considering bitcoin in this stance, which is believed to have a lot of future benefits and prospects ahead of time, all these are what the rich foresee and use in making decision on making an investment not minding at the present cost, but setting priority at what the future tends to offer after they have invested and hodl.

Axie infinity was "basically" pokemon, they couldn't put the names there, but that's what they set out to do, in a trademark avoiding manner. It wasn't that bad, there were limited numbers of certain axies, and the only way to make it was breeding, which meant that you get to spend your earnings if you want to breed and have more, which meant that the token supply didn't go that high.

But that unfortunate hacking made people not continue with the game and just completely withdraw, meaning nobody breed, and the few who did couldn't find any players to sell to, which dropped the prices and of course everything went to hell after that. Hacking and hackers are the number one trouble in the crypto world, they always ruin everything that is fun.

BC was also the acronym for a POS coin made in about 2014 I think, I used to trade and stake it all the time also known as BLK.   I dont think I can remember BTC ever being traded as BC for as long as Ive been on exchanges but I might have missed it.

People will always go after collectibles and try to buy something they think will accumulate value for that idea of rare.   I only personally rate the useful items that might also happen to be rare, I guess classic cars are still a nonsense price despite in theory being a practical useful product also.

The true definition for prices without distortion is productivity, if you gain more then you lose by buying something then this item has true worth beyond its price tag.   You have the proverbial golden goose, in theory that is what capitalism is about and money is just about allowing the reliable capitalization of good ideas/products throughout the world.

Price tags are not value they are just labels trying to describe and balance supply vs demand at this precise time on the day, its a given the price tag is never perfectly balanced or accurate.  The product value even with BTC pricing is something we must strive to describe better then just todays price.

I disagree with you here! Many wealthy individuals are true investors, and they approach digital arts and collectibles as an investment. Depending on the wealthy individual, they see them as a way to diversify their investment portfolio beyond traditional assets and Bitcoin. In as much as there are potential in any investment, they belief digital assets have long term potential to appreciate. While some are them are naturally into arts entirely. Their passion for art drives them so crazy that they would search for digital art or local arts to buy it as they are rich. What am trying to say here is that people interest in digital arts and collectibles varies, and their reasons for buying them is best known to them. Some potential gains with time after they must have sold it while some for beautification and making their castle look expensive.

Your right mate, it's literally pokemon from its game play and the entire idea, and really liked how you could bread characters or axies and create entirely new axies in the game and it also had an in game marketplace and economic where users could buy and sell those nfts within themselves, you could also build kingdom for your axis and everything in the game literally cost money, a plot of virtual land in the game was priced about 2.3 million dollars, the game even peaked to having over millions of users and most Philippines adopted the game as a secondary source of income.

Hacking has always been a major enemy of the crypto world and cost this growing game to crash, in just few weeks or days after the hack their secondary token crashed to 99% low of its last ATH, items that were worth over 300$ were now valued at less that 20$, players lost a lot of efforts in breeding and hording assets in the game, although there were able to compensate the loses of most individuals and users but the company couldn't survive the crash as players began to flee, they suffered a lose of users from 2.7 average daily players to 20000 daily players from 2021 amid the hack incident to 2023, now I guess very few persons might still be playing the game. A game that could generate more than 300 million dollars in just 2 mothers from July to August in 2021, showing how much a great potential it has.

Some people buy things without the aim of making profit from them; they just want to help those things gain adoption and also have value or gain more value. For instance, the person who bought the "buy bitcoin sign" for 1 million dollars has helped bitcoin gain adoption. For instance, when you see the news that someone bought a "buy bitcoin sign" for 1 million dollars, you will want to know the reason why someone used such a large amount of money to buy the "buy bitcoin sign." In the process of your research, you find out the problems bitcoin will solve in the world, and you will not want to be left out. Before you know it, you will start making plans to accumulate bitcoin. Some people also buy things that will not give them profit or have no value just to appreciate the creators of those things.

Yea, but I am sure that before people buy things they have visualize the future of the particular stuff they are purchasing to ascertain the possible value of such item, what I believe is that rich individuals always have a means of adding value to things, remember the Bitcoin whales are not the only people investing in Bitcoin but just because there presence is felt based on the quantity of Bitcoin the have in their possession, in the world today many rich people know that Bitcoin has dominated the digital market and I believe the purchase of the paper sign was for diversification, hence we know that speculation and some strong moves are the major factors that triggers investment may that's the reason for this kind of purchase, in conclusion, lets not be bothered about the money used to purchase this sign, our major concern should be the motive behind it.

There are people who are greater than the whales yet they cannot be noticed. Bitcoin whales are investors who want themselves to be recognized in the system. But trust there are investors investing though the ETFs and these people has invested billions or trillions into Bitcoin without making any online presence or be identified by Bitcoin detectives. The only way they can be noticed is when the  ETF snitches on them to the detective which is not a thing we see often. I believe that it is one of the advantages of investing in ETF because you can remain anonymous.

That's what the pizza guy said as well, they want to make it more famous, or basically get adopted, like make people realize that they can buy pizza with bitcoin so it is real money. What people do not understand is that, very few things in the world got bought with bitcoin before that pizza, it was something quite low in price and wasn't used much at all, it was a hobbyist thing and nothing more.

I believe that the best thing to do in this case would be just realizing that we are way ahead of everything else in this subject. Thanks to him, we have seen for the first time that bitcoin can be used to buy something tangible, like pizza. That really did help with growth of bitcoin without a doubt, it allowed people to see bitcoin in a different light.

Sometimes most rich men do things or buy expensive asset to oppress the poor ones, most of the them buy for the future for instance a land bought $1000 can amount to $10000 in time coming, sometimes time they buy things at high cost for fun. The way a rich man will invest in Bitcoin is not same way a poor man will invest a rich man can decide to invest aggressively, accumulating enough Bitcoin not minding the present price even if it very high  because they have other source of income that will help them not to sell out there Bitcoin hodling until it got to a centre price they will want it to get to in order to make enough profit from there Bitcoin investment.

You are correct mate.
Bitcoin is as useful as gold or silver if not more valuable. Bitcoin is no longer the coin that we were hoping to get and become a global currency of the "people" so that we can decide on it. However it is still a great investment instrument for the millions here that try to make money off it.

In the future when people are having a portfolio that they will put their savings into there will be bitcoin at the side some where if you ask me, even the banks and investment firms will have an eye on bitcoin and when you are investing on that pharma company and insurance company you will put aside for some bitcoins as well on your portfolio. It will not be some "nerds money" or sorts and it will become more mainstream on investment world which it already began to be.
The future will be great for every Bitcoin holders and the same way people who had the opportunity to invest in Bitcoin 10 years ago and refuse are regretting now is same way people who are ignorant about Bitcoin  investment now will regret, the future is bright for Bitcoin holders.

One thing I understand about NFTs/Arts and its value attached is that most of them do not necessarily have a good purpose but some totally depend of the personality who creates or markets them or stories behind the arts.

I'm thinking of what art can be attached with Satoshi or bitcoin history just as the image @Troytech brought up.

If someone like Satoshi had an image or something related it could be over priced as an NFT as time goes on or if bitcoin was first visualised on a paper it could be the next over priced thing or if he had a diary where he wrote the whole idea, such kind of thing could be a thing if it's in the market because it would bring a lot of story out of a single image or paper.

I'm with the dude that tweeted about how crazy it is, I mean what other significant value does it have besides being a collectible? I guess we can never understand how rich people think, maybe they think that they can make things work and get this going to get more value in the future. Totally agree with you about being a crazy collectible, this is in the same realm as any other NFTs out there, I don't see how people aren't seeing it that way. Imagine yourself being the owner of that 1 Satoshi, you're probably laughing your ass off right now because you would still be in disbelief that someone's going to pay that much for that, I mean I am too in disbelief and I think it's crazy even if I don't sold that Satoshi.

I think your still saying the same thing. Personality and value. There are two ways on can attract value to something one is through marketing and the other is through ownership. And in terms of personality it has to do with claiming ownership of the NFT or Art. It is easier and stress free to add value to something through personality as you do not have to spend money on advert or any form of marketing. Just have a prove of ownership plus your status in the society and every one will be begging for your NFT and Art.

For instance an orphanage who is adopted by a wealthy foster parent. Automatically that orphanage is wealthy asf. Bearing the name of his foster parents give him immunity to public harassments, makes him popular and famous plus other benefits the foster parents have.

The problem is that if you keep making decentralized projects, which is fine because nobody wants a centralized power to control anything, but decentralized also means that you need someone keep working to close the loopholes that hackers could use, and the risk will always be there.

I am not saying that you will never have any of them hacked, even if you work on it hackers will always try, there are millions of dollars there, so it will always be attacked, but if you have a decentralized one that teams do not work on and just collect cash, then you are going to get it hacked a lot easier. Axie got that, the team just loved the fact that they can retire wealthy now, and did not work on to make it more secure against attacks.

Hmm, well that's your own take but at the same time it's also a show of wealth, I mean rich fellows do this all the time and they feel its all just fun to actually do things that other won't and can't, that's why you would see some random dude who no one knows buy some shit ass stuffs for some crazy amount of figure just so they can't that big attention and boom the whole thing becomes a big talk, I could even say that it's used something to get some kind of recognition or something because you definitely can't have so filthy money and that money wouldn't speak for itself.