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

[QuestionAuthority]

I agree, woof woof.

[nara1892]

wow. that's.fun fact. I think those people just do not really know what virtual items refer to. and bitcoin price is kind of expensive because it is more famous than virtual items OP mentions, so people look at it more than the other items. so they think it is expensive, but it is not.

[Lauren Smith]

People like that you should stay far away from. People like that think ideas are not worth money and they think something must be physical to have value. People like thst just dont understand. Who knows what they think about other thinks 

[Pattberry]

I really did not know that people would spend this much amount of money for virtual things and to be frank i am not sure what those items are. How come they are able to spend this much amount of money just to purchase gaming skins and equipment. Do those items have resale value .

[EyeRis]

I really did not know that people would spend this much amount of money for virtual things and to be frank i am not sure what those items are. How come they are able to spend this much amount of money just to purchase gaming skins and equipment. Do those items have resale value .

it`s better to spend the bitcoins on digitalk goods than to spend them on drugs

[error08]

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. 

Splendid, nice information to read about. The first item that mentioned on the article was "The Blue Party Hat in Runescape - $1680" the price is more than bitcoin for now. Scarcity in virtual world mean very expensive cost to have one. On the other hand, bitcoin price become more expensive if the demands increase but with limited supply, that lead to scarcity too. Store of value, bitcoin known as digital money and even can compare to gold as precious things.

[calkob]

Great examples there mate, it just goes to show the potential value that bitcoin could achieve, if people will pay thousands for shite, how much will they be willing to pay for bitcoin ?  i cant wait to see what it will become.

[BitcoinPanther]

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.

Bitcoin is expensive but satoshi is almost free you can claim hundreds to thousands of those every hour for FREE.   Yes People always look at the whole not realizing it can be taken by part.  I used to look at it that way before but now I realized Bitcoin is almost free if you take it parts by parts.  It will take time though.

[Lauren Smith]

I really did not know that people would spend this much amount of money for virtual things and to be frank i am not sure what those items are. How come they are able to spend this much amount of money just to purchase gaming skins and equipment. Do those items have resale value .

it`s better to spend the bitcoins on digitalk goods than to spend them on drugs

Why are you bringing up drugs

Yes these items have resale value they exactly the same as the stock market. Prices go up prices go down.
Supply and demand is the basics of business.

[AjithBtc]

Bitcoin is expensive, but not big as people say. It's just a store of value where we can save $100 or a very big number based on affordability. So the buying chances of bitcoin even from small denomination makes it inexpensive that anyone who believe digital assets can buy and profit.

[The_Dark_Knight]

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. 

This is a nice way to explain it, it may seem odd for some that you can apply the same concept of scarcity to a digital item since we are used to being able to duplicate our files with a few clicks but the truth is that digital scarcity is everywhere.

[QuestionAuthority]

Too expensive? That's crazy. Just because total strangers, 8,000 miles away, gambling on Bitcoin price like they play PaiGow, that don't care at all about the ideals behind Bitcoin, living in the most oppressive country in the world are controlling the price and can lose thousands of dollars of my money overnight, why would I think it's too expensive?

 

[eternalgloom]

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.

I've heard this as well, there have been quite a few public figures who have stated that they didn't see the value in Bitcoin.
Also, kinda weird to be comparing cars to Bitcoin, totally different things and not a great argument that you're making there tbh.

[Fireblade]

I really did not know that people would spend this much amount of money for virtual things and to be frank i am not sure what those items are. How come they are able to spend this much amount of money just to purchase gaming skins and equipment. Do those items have resale value .

but i think that people are already spending a lot for trading such virtual currency. in fact the mind of the modern people is completely changed they consider bitcoin as their future currency and that is why they are trying to buy bitcoin and we can see that the demand of bitcoin is continuously increase which is a also causing the increase i price of bitcoin.

[Blitzboy]

I really did not know that people would spend this much amount of money for virtual things and to be frank i am not sure what those items are. How come they are able to spend this much amount of money just to purchase gaming skins and equipment. Do those items have resale value .

but i think that people are already spending a lot for trading such virtual currency. in fact the mind of the modern people is completely changed they consider bitcoin as their future currency and that is why they are trying to buy bitcoin and we can see that the demand of bitcoin is continuously increase which is a also causing the increase i price of bitcoin.

Spending is the only way to increase the Bifcoin prices and we have to respect those who use Bitcoin for various purposes, especially traders. They are the one who help to increase the prices of Bitcoin.

[clickerz]

Nice comparison to other virtual commodity/item or stuff. Indeed, some are very expensive compared to bitcoin as I am also familiar with Second Life.It is the demand and opportunity that makes this crypto continue to rise.

[GalacticEmpire]

Nothing is too expensive for a digital item.  The only thing that matters is the market cap, and the market cap for Bitcoin is obviously much lower than the value of any fiat currency. 

What people don't understand is that the value of virtual items is just whatever people give them.  Online fiat spending is still just numbers on a screen, what matters is what it represents.  Fiat currencies aren't always even backed up by gold anymore - in the UK, for example, there are far less gold reserves than before, but this has not automatically resulted in inflation.

[neochiny]

Digital Scarcity huh. That's a great narrative. 

It's a convincing and conclusive explanation. Unlike the other usual explanations/introductions, I've seen
(mathematical formulas, software programs, network, etcetera.) 

Splendid analogy and comparisons. At least it'd help me better explain what bitcoin is, for those curious friends.  Thx!

[disconnectme]

I don't understand why some people always attach significance to price, if you are using Bitcoin most transactions you have discount especially on purse.io and others. It is cheaper to use Bitcoin nowadays

[JanpriX]

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. 

You definitely nailed it with your analogy and explanation. I usually have that question when I'm talking with my friends about BTC. They can't believe that an online currency is worth a thousand dollars and its price still continues to increase as time goes by. I'll use your examples when they ask me about it again. I know that some of them played those games and there's a high chance that they also know those items with high value.