To those who says Bitcoin is too expensive for a virtual item

[Kprawn]

I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "

My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :

•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.

Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,

https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s

No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in

circulation, give or take a few million, and THAT makes it rare.  Do the math, and see where this is going. 

[Blawpaw]

I totally agree with you on this one. One of the examples you can also always mention about is the items in Starship Citizen. One spaceship on this online multiplayer game can go up to 16.000 Euros and even more

[Jet Cash]

Why don't you mention Internet domain names - those are virtual real estate.
And then there are fiat bank deposits. Those have no asset backing whatsoever. At least Bitcoin has a PoW asset backing, but that is a difficult concept for many to understand.

[BitcoinHodler]

there was a topic here about terminology and not calling bitcoin words like virtual that i liked. and i think it shouldn't be called things like that.
and to those who call bitcoin virtual, digital,... you take the scarcity approach but  i always point out how everything else is virtual. for example the number they see on their Paypal account, or their credit card account is virtual. but bitcoin is more than real because you programatically own bitcoin and nobody can take that away from you.

[20kevin20]

You forgot other in-game items from games like CS:GO, where weapons' skins can cost dozens of thousands of dollars just because it's a rare pattern. Bitcoin isn't expensive but many cannot afford it, including me. We've seen other useless things that cost a fortune, but some people can buy it because of their monthly earnings. Bitcoin also isn't a virtual item, it's actually a currency that can be used anonymously online. You can transfer funds to anyone without that person ever knowing who you are. If it was an item, I wouldn't try to earn it either.

[p_linz]

but most people will tell you that you are not really paying for the item in those games. you pay for the fun with you hobby that you have. also most would say that people are crazy who pay so much for those digital goods, just like the people who buy bitcoin.

[shorena]

but most people will tell you that you are not really paying for the item in those games. you pay for the fun with you hobby that you have.

Nope, you can have perfectly fine fun in those games without having an ultra rare skin. Their are prestige objects and I think thats a good reason to not use them as counter arguments. Domain names are a way better example that people can understand better. Whats amazon.com worth? Its just virtual. Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on? Non-physical objects have (personal) value and there is no reason why there should be an upper bound unless it has a physical form.

[p_linz]

but most people will tell you that you are not really paying for the item in those games. you pay for the fun with you hobby that you have.

Nope, you can have perfectly fine fun in those games without having an ultra rare skin. Their are prestige objects and I think thats a good reason to not use them as counter arguments. Domain names are a way better example that people can understand better. Whats amazon.com worth? Its just virtual. Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on? Non-physical objects have (personal) value and there is no reason why there should be an upper bound unless it has a physical form.

if i have to pay you just so you name me by my name, then by all means go ahead and give me names.
every hobby makes fun even with shitty gear. people pay for better stuff to enjoy it more. same goes for gaming.
some might buy expensive stuff for hobbies to compensate but this is the same for gaming and offline stuff.

[dothebeats]

I can agree to the War Dog courier in Dota 2. I mean, who would pay for a virtual item that only delivers something to a player and is technically the same as any other courier, but the difference is its ethereal gem and appearance? The seller understands how rare that item is, that's why he puts a large tag price for it. Same as bitcoin; 21 mio supply and after that, the remaining existing coins would be in circulation, those that were lost are lost, no chance to recover them anymore. We pay for the things we put the value in for the first place. I don't see what's crazy in that.

[Velkro]

I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "

Where do people you meet live? People are buying cars for like 10000$-30000$ on average and bitcoin for 900$-1000$ is expensive? Its not , its great investment.
People will realize it after 10 years will pass from now, like with introduction of internet.

[kumax]

There is nothing weird about the price/value of virtual things.
It's just simple economics and it doesn't really matter if something is virtual or real.
Demand creates the price and if the demand is high, the price goes up as well.
The advantage of bitcoin, comparing to the virtual gaming items, it is that you can use the value of coin for many more things, than "only" for better game experience and also it can be changed back to fiat more easily.

[SyGambler]

yeah definitely some people are missing that but in my experience this is not the main concern of the people who I know , cause they know that the local currency worth nothing too ( working a full month to get 40 plastic papers )
the main concern that I have faced is that people are afraid that there may be more coins in the future , and if they invest in BTC then maybe a new coin will steal the lights

[shorena]

-snip-
Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-

if i have to pay you just so you name me by my name, then by all means go ahead and give me names.

"to pay for" is not the same as "has value", that was the whole point. Non-physical things have value, e.g. your name.

[manselr]

I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "

My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :

•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.

Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,

https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s

No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in

circulation, give or take a few million, and THAT makes it rare.  Do the math, and see where this is going. 

Exactly, there's people playing 4 figures daily for stupid ass shit like Counter Strike: Global Offensive special weapons, and by special I mean the same damn weapons that are in the default game, but with a changed skin and shit like that. Same goes for Clash Royale (you can see how youtubers make a living with those games opening random items, and spending money on the items and so on). It's insane that people are wasting money on that while being skeptical about Bitcoin. The will never learn but we will laugh we are sitting on 6 figures a coin.

[p_linz]

-snip-
Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-

if i have to pay you just so you name me by my name, then by all means go ahead and give me names.

"to pay for" is not the same as "has value", that was the whole point. Non-physical things have value, e.g. your name.

but only if someone is willing to pay for them. if nobody is willing to pay, then i see no value there.

[shorena]

-snip-
Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-

if i have to pay you just so you name me by my name, then by all means go ahead and give me names.

"to pay for" is not the same as "has value", that was the whole point. Non-physical things have value, e.g. your name.

but only if someone is willing to pay for them. if nobody is willing to pay, then i see no value there.

Im sorry for you Rumpelstiltskin.

[Kprawn]

I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "

Where do people you meet live? People are buying cars for like 10000$-30000$ on average and bitcoin for 900$-1000$ is expensive? Its not , its great investment.
People will realize it after 10 years will pass from now, like with introduction of internet.

Most of these people are non-bitcoiners and they have little information on the topic...so they are basically talking out of their ass. You know

those people who think they know everything about anything, but actually know very little. They also want to have something physical in their

hand to show for that amount of money. I win the argument every time, when they finally get the true picture. 

[justdimin]

I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive?

You need to explain them :
Bitcoin cannot be expensive as long as it is divisible. We can buy some bitcoins for even $1 too.

Moreover to use bitcoin as a currency, price is less significant. For example a merchant is accepting bitcoin payments for selling some of goods, after that he will immediately encash those bitcoin with his bitcoin dealer. I believe there will be no bother about the price levels for the merchants in this case always.

[HabBear]

Here's a few other example to use when people say "how can something virtual be so valuable":

• Music, almost all of it, is digital, virtual now
• Cable TV is virtual - and most of these companies chart LOADS of money for programming
• Crowding funding is virtual
• MOST CURRENCY is virtual - how do people usually pay for goods and services? They hand over a plastic card which exchanges virtual value from one person to another

I think you should try to find why people believe bitcoin can't have that level of value? It's a simple economics lesson based on supply and demand.

[franky1]

twisting the question around to emphasize the expense part of the question..

well a tonne of gold is expensive
a whole company is expensive
amazons server farm is expensive

thats why you only buy
ounces
shares
racks

bitcoin allows you to buy Bits and Sats