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Author Topic: Could the Bitcoin be seen as a collectible item ?  (Read 1642 times)
CosmicVibe
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February 28, 2017, 06:13:27 PM
 #1

Hi !

One of the main differences between BTC and traditional money is that the number of coins is limited. As far as I can remember there can only be 21M minus the ones lost forever.

So ,am I the only one to percieve the BTC not mainly for the transaction and payement purpose, but more like a collectible item that will innevitably take value with time ?

Sorry if it sounds silly But i'm still new in the cryto money world  Cheesy
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February 28, 2017, 06:17:21 PM
 #2

Yes, we know this and that was part of the grand design to be like that.... Remember Bitcoin is the Digital Gold of this generation... and it mimic

many of gold's characteristics. You can mine both and you can use it as a safe haven and you can collect it or trade with it... both are also

valuable and can be used for multiple things. {Bitcoin is not just a currency... it is just a token, but can be used for a lot more}  Grin

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February 28, 2017, 06:24:32 PM
 #3

It can sure be considered as a collectible item. Several other digital currencies too have evolved during the same time period. So the potential one being secured in a wallet is a good thing. Along with this when one makes a collection of most digital currencies and ICO's that's been existing periodically would make people start collecting it as collectible.

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February 28, 2017, 06:32:14 PM
 #4

Of course it can and it's even a point used by Bitcoin haters.
Here's an example of an article from 2013 https://www.forbes.com/sites/louiswoodhill/2013/04/11/bitcoins-are-digital-collectibles-not-real-money/#543ace653f8b
The author tries to belittle Bitcoin by describing it as a collectible and an item for speculation, that will never function as money. Time is proving him wrong.
I'd rather compare it to digital gold than a collectible.


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February 28, 2017, 07:18:56 PM
 #5

One of the main differences between BTC and traditional money is that the number of coins is limited. As far as I can remember there can only be 21M minus the ones lost forever.

But the 21 million bitcoins can be subdivided into 2,100,000,000,000,000 satoshis (enough for 300,000 per person), so it would be difficult justify bitcoins being collectible based on rarity.

If you are looking for collectible bitcoins, check out physical bitcoins here: https://bitcointalk.org/index.php?board=217.0

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February 28, 2017, 09:50:50 PM
 #6

I think that the Bitcoin can be considered a collectible item for someone who collects coins and includes this item with the classification of "virtual currency," but I think they would do it for the fact that it is something special for that person and they would opt for a physical Bitcoin to make it meaningful.

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February 28, 2017, 09:57:11 PM
 #7

Yes, we know this and that was part of the grand design to be like that.... Remember Bitcoin is the Digital Gold of this generation... and it mimic

many of gold's characteristics. You can mine both and you can use it as a safe haven and you can collect it or trade with it... both are also

valuable and can be used for multiple things. {Bitcoin is not just a currency... it is just a token, but can be used for a lot more}  Grin

I also think that bitcoin can be considered as a digital gold. like glld, you can collect  bitcoin and save it as long as you want, or trade it. it does not matter. people sell gold to get some money, so is the bitcoin function. however, smart ones will hold their bitcoins for higher price.
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February 28, 2017, 10:47:20 PM
 #8

i am sure that bitcoin can be seen as collectible item and we can make bitcoin as our private digital coin and we can save it in our private wallet and never use it. i think if you do this, then bitcoin will be like collectible item and you can saving bitcoin as legacy for your descendants and it is really valuable and worth for you so you don't want to spend or sell for buying something. the only one you want to do is saving more bitcoin in your wallet.


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February 28, 2017, 10:50:02 PM
 #9

I don't see Bitcoin as a traditional collectible item, it shares some characteristics because its something that everyone could want, but more like everyone would want to be rich.
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February 28, 2017, 11:01:22 PM
 #10

Hi !

One of the main differences between BTC and traditional money is that the number of coins is limited. As far as I can remember there can only be 21M minus the ones lost forever.

So ,am I the only one to percieve the BTC not mainly for the transaction and payement purpose, but more like a collectible item that will innevitably take value with time ?

Sorry if it sounds silly But i'm still new in the cryto money world  Cheesy

If you like to make it as a collectible thing then it's just fine. Same goes if you want to use it as a real money. How would you like it to make it as a collectible one? As it was on a paper wallet or being funded at a physical coin?

And can you able to handle it as a forever collectible one if there's a case by any chances that a BTC1 will cost $10,000 or more? Cool

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February 28, 2017, 11:12:30 PM
 #11

Wouldn't really think of it as a collectible item based on the pure fact that I feel when you collect something you have the ability to touch it, hold it, move it and so on. With bitcoin this is impossible, unless you buy one of those coins that have the private keys for the wallet inside of it. Still, this really doesn't put bitcoin as a collectible.

I think that the Bitcoin can be considered a collectible item for someone who collects coins and includes this item with the classification of "virtual currency," but I think they would do it for the fact that it is something special for that person and they would opt for a physical Bitcoin to make it meaningful.

If you meld your definition and change what the person collects, which is a weird niche but I guess collecting virtual currency could work as you cant touch any of the virtual currencies but a person could still have one coin of each on wallets saved somewhere.

It can sure be considered as a collectible item. Several other digital currencies too have evolved during the same time period. So the potential one being secured in a wallet is a good thing. Along with this when one makes a collection of most digital currencies and ICO's that's been existing periodically would make people start collecting it as collectible.

It's considered more of a currency and less of a collectible, this is just someone asking if it COULD be seen as a collectible.



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February 28, 2017, 11:17:45 PM
 #12

Absolutely not. Being a collector and regularly trading with other collectors, none of us would ever consider collecting BTC.

A collectible is something you can enjoy looking at. Collectors also very much enjoy showing their collectibles to others. You can't do that with BTC.
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February 28, 2017, 11:19:57 PM
 #13

That's how I look at it.
Bitcoin should be really looked at a collectible because this won't be a New World Order Currency. Bitcoin has a large amount people complaining about the transactions fees and they don't want to spend it within the current decade and if Bitcoin strives past this decade it might be worth more money and the transaction fee's may get higher. So, that means more people will learn to hold the collectible coin instead of spending it on meaningless things.

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March 01, 2017, 12:25:00 AM
 #14

I will say it ever and ever again: Bitcoin won't work as a "collectible". That could only work if it was closed source and no competitors would be there (e.g. if the technology making it work was unknown and couldn't easily be reverse-engineered), and then it never would have gained trust.

Bitcoin as a "store of value" only works because people can imagine a future where Bitcoin is one of the major payment systems and used by hundreds of millions or even billions of people and then its value would be significantly higher than today. I highlighted the words "used" and "payment" because I mean explicitly an use in the sense as "payment tool" and "money substitute". Because if it's only used like a speculation item it has no advantage to other cryptocurrencies - the network effect is what's causing Bitcoin's lead.

And even if there is a kind of "agreement" between users that "Bitcoin is the digital gold" then that would give major incentives for speculative attacks because then liquidity will stay low, volatility high and it's easy to get the users to panic. Gold is different because it has a kind of intrinsic value (=industrial use) and is also kind of backed by major organizations like states.

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March 01, 2017, 03:19:46 AM
 #15

Hi !

One of the main differences between BTC and traditional money is that the number of coins is limited. As far as I can remember there can only be 21M minus the ones lost forever.

So ,am I the only one to percieve the BTC not mainly for the transaction and payement purpose, but more like a collectible item that will innevitably take value with time ?

Sorry if it sounds silly But i'm still new in the cryto money world  Cheesy

fiat is also limited supply! a country doesn't just print money day and night without any limit that will kill its economy and currency value!

and lots of other things have limit too. Gold has a limit also. there are limited supply and each day smaller amount is being mined.

with that said you can see bitcoin as whatever you like, people collect all kinds of things with the hope their price goes up. and you know what bitcoin will go up. because it is still early stages and not that many still know about it.



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March 01, 2017, 06:06:31 AM
 #16

One of the main differences between BTC and traditional money is that the number of coins is limited. As far as I can remember there can only be 21M minus the ones lost forever.

But the 21 million bitcoins can be subdivided into 2,100,000,000,000,000 satoshis (enough for 300,000 per person), so it would be difficult justify bitcoins being collectible based on rarity.

If you are looking for collectible bitcoins, check out physical bitcoins here: https://bitcointalk.org/index.php?board=217.0

People collect coins, stamps based on their value too, even if in most cases the value is closely linked to the rarity. We will lose quite a lot of Satoshi's going into the future, with people depositing coins into wrong Bitcoin addresses. We might have tons of Satoshi's now, so this might not be a factor now, but what about 20 years from now.  Huh

Every Satoshi is precious... my precious.  Grin

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March 01, 2017, 06:12:38 AM
 #17

it can but it shouldn't although nothing is stopping anyone from doing it.
bitcoin should be used and views as it is intended to, as a currency. and only because of it being a digital decentralized currency it can grow and become more valuable not just because it has limited supply and is rare!
and one of the reasons that bitcoin has been rising and has its price go to the moon is exactly this. because people see this decentralization and the fact that there is no banks bullshit anymore.

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March 01, 2017, 06:14:54 AM
 #18

Yes bitcoin is collectible I have had the opportunity to stumble on a thread on this section where a auction is opened for live bitcoin coin which if bought can then be redeemed electronically to what can now be transferred. Until recently I saw that, I always thought the coin symbol in all pictures relating to bitcoin is just a myth as what we have is nothing close to physical coin but now, my thinking has completely changed towards that.

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March 01, 2017, 06:36:54 AM
 #19

yes, we can see Bitcoin as an income. We can use it, work and business, its income as income us every day, we can work and receive Bitcoin, it may be the main source of our income, and all all we can see it as a source of stable income, myself, I have a stable source of income from work per week advertising their signatures. I liked it, and I confirmed it was good work to income Bitcoin

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March 01, 2017, 06:41:57 AM
 #20

Hi !

One of the main differences between BTC and traditional money is that the number of coins is limited. As far as I can remember there can only be 21M minus the ones lost forever.

So ,am I the only one to percieve the BTC not mainly for the transaction and payement purpose, but more like a collectible item that will innevitably take value with time ?

Sorry if it sounds silly But i'm still new in the cryto money world  Cheesy

There is a big difference between a collectible and a currency.

A collectible is usually something that cannot be traded for immediate cash, it does not provide any service to you, and you only buy that collectible if you are interested in it, which probably not a lot of people are.

But bitcoin, it is a payment protocol in itself, so calling it a collectible isn't appropriate.

If you were to treat it as a collectible, are you just letting your coins sit in your wallet? Then what you're collecting aren't bitcoins. You are just collecting numbers on the screen, which to me sounds not too fascinating Wink



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