Bitcoin Price vs Iphone Price at launch

[bitmover]

I follow a Brazilian meme website which is very funny and he  maid a nice comment recently about bitcoin vs iphone price at launch.

Everyone knows how much iphones are ridiculously expensive. But let's take a look at this table and see how much you could have bought of bitcoin with iphone price at launch over the last years.



source: https://www.instagram.com/p/CVL5dNylhPM

[Poker Player]

Yeah, well, but that can be done with pretty much everything.

In the past, such tables were made to show the loss of purchasing power of fiat currencies, like you can see here:

Visualizing the Purchasing Power of the Dollar Over the Last Century

but if we add Bitcoin to the equation, the contrast is even greater.

[mk4]

It's funny how spending like $1300 is too expensive for me to justify whereas if looking at it as 0.02 BTC, then suddenly I'm a lot more comfortable in spending it lol.

[bitmover]

It's funny how spending like $1300 is too expensive for me to justify whereas if looking at it as 0.02 BTC, then suddenly I'm a lot more comfortable in spending it lol.

I agree. I still need to update the current bitcoin price in my head.
I know it is worth ~60k, but still when I think 0.02 BTC it really doesn't look like a lot of money lol

Certainly big companies could profit in that scenario. Many people think feel like us. I would be more comfortable spending my bitcoins directly instead of converting them to USD.

I wouldn't buy an iphone for $1300, but maybe I would for some satoshis

[o48o]

Damn, i phone 5 turned to be very expensive, sadly they don't raise in value when they get older. I sometimes count how much my spendings were in 2015 when i was using bitcoin to take my kids to swimming and buying stuff. I really don't care that i spended that because i didn't have a clue bitcoin would moon so hard anyway. And i was living from hand to mouth anyway so it would be harder for me to save it.

[DarkDays]

It's funny how spending like $1300 is too expensive for me to justify whereas if looking at it as 0.02 BTC, then suddenly I'm a lot more comfortable in spending it lol.

Yup, the power of numbers on the human brain!!!

I guess this is why we see prices of .49 or .99 rather than whole numbers. If it is not a whole number we are suddenly thinking that's more of an acceptable price to pay. A whole science behind this stuff but it always helps to put it in perspective, especially when dealing with crypto

[btc_angela]

I think we have the same thread here: Price of an iPhone in Bitcoin at their launch over the years. by @rhomelmabini.

[hugeblack]

If we calculate inflation and compare it with the technology provided by iPhones, we will also see some differences.
In general, it is assumed that the prices of digital products will continue to decrease or remain stable, especially since developers are making a lot of options for customers, but in general, instead of buying several phones, it is better to buy an average phone and invest.

[Dhaniii]

I'm a little curious as to what the iPhone 4 costs up to 2 BTC, what about the menu, the uniqueness so that the price is very expensive. I'm still not convinced by such a price, it's better to use the funds in a more profitable place than to be extravagant for an iPhone.

[mk4]

Yup, the power of numbers on the human brain!!!

I guess this is why we see prices of .49 or .99 rather than whole numbers. If it is not a whole number we are suddenly thinking that's more of an acceptable price to pay. A whole science behind this stuff but it always helps to put it in perspective, especially when dealing with crypto

Yep. And this is why I think we should be using smaller bitcoin denominations by default; because a lot of ignorant people are unnecessarily getting attracted to "cheap" prices, thinking that the likes of XRP and DOGE will reach bitcoin's price levels even though their total supply is far far higher.

[bitLeap]

The longer the IPhone the cheaper the price, while the longer the Bitcoin the more expensive the price. Obviously that's very different in terms of value resilience. But broadly speaking, this is of course converted at the price at that time. So the current comparison, we know which one we should buy and let the Iphone print the new version. While Bitcoin will never have version 1 version 2 and so on.

[livingfree]

Even if I'm not a fan of Iphone, I think in the earlier days of bitcoin and I think that it can be afford by me, I'll buy. But what a coincidence that we're in a better time today.

Price of bitcoin is much higher but I wouldn't need an Iphone though but I'll buy a macbook. 

It's funny how spending like $1300 is too expensive for me to justify whereas if looking at it as 0.02 BTC, then suddenly I'm a lot more comfortable in spending it lol.

True. 

We've just accumulated it when it's cheaper but it's still not that sinking that the price went up already.

[PrimeNumber7]

In the past, such tables were made to show the loss of purchasing power of fiat currencies, like you can see here:

Visualizing the Purchasing Power of the Dollar Over the Last Century

That graph does not factor interest one would expect to have on the $100 it measures. It is very uncommon for someone to keep all their money in a mattress. Bank interest rates are low today, but they have been closer to the inflation rate in the past, and in some cases, exceeded the inflation rate.

It is no secret that the price of bitcoin has gone up. This has not been caused by purchasing power inflation of fiat currencies. The price has increased because more people have seen the value in using bitcoin, and are willing to put their money where their mouth is.

[SquirrelJulietGarden]

Visualizing the Purchasing Power of the Dollar Over the Last Century

Purchasing Power of the U.S. Dollar Over Time. The purchasing power of fiat currency lost over time. Governments have rights to print money from their factories so the decreasing power of fiat currency is unavoidable.

Iphone was a very hot and desired item for people one decade ago with the era of Steve Jobs. It was a dream of many people. Now, it is not because there are many smart phones and Iphone is not the only option for us. I know some people are Ifans and they do love and only choose Iphone if they need a smart phone. For others, they can choose smartphone from other companies. With this competition, the value of Iphone drops over time too.

I meant Bitcoin beats both fiat currency and Iphone in value.

[Wind_FURY]

That MEME validates that Bitcoin is currently not “right” to use as a medium of exchange. We don’t know what its real price is because it is on a path to price discovery. If your transaction doesn’t require censorship-resistance, keep HODLing your Bitcoin.

[amishmanish]

0.02 btc may seems like a small amount to you few lucky dogs here, lol. For me, it is still quite a big amount even though I have been on the forum since end of 2017. It was partly because of the fact that I stopped accumulating during a year long ban in our country and then missed a lot of initial spots in Sig Campaigns by a margin. Came close to CM once but then real life took over and had to be away from the forum.

I wonder how many people of my type would be there who haven't made it despite being in the space for 4 years now. I am almost ashamed to admit this at times, LOL. Thanks to my present campaign though, I have stacked some Sats. Not worried about it though. The space has still given me a lot and whatever shortcomings i have, they are my own.

I am with Bitcoin and i am sure WAGMI...LoL..I never really liked Iphones anyway. Now if its a foldable Note with a sexy stylus, I'd pause and feel bad for a minute..

[mk4]

You should try converting 0.02 BTC to 20 mBTC or 2.000.000 satoshi.

As much as I'd want to, it's really difficult to do these kinds of mental gymnastics to my own head if 99% of services and exchanges still has BTC as the default denomination lol.

[pinggoki]

Such comparison in the past was made to either put into table the loss of purchasing power of some of the top Fiat in the industry or to just signify the ever-increasing price of something as a result of technological advancement. As in the case for bitcoin, one can derive from the comparison that it exponentially grew in terms of purchasing power that not even the high price of iPhones in the past decade could catch up with it. Besides, one is an ever-appreciating asset that could grow even more in the years to come while the other is a depreciating piece of tech that goes outdated every year.

In the past, such tables were made to show the loss of purchasing power of fiat currencies, like you can see here:

Visualizing the Purchasing Power of the Dollar Over the Last Century

That graph does not factor interest one would expect to have on the $100 it measures. It is very uncommon for someone to keep all their money in a mattress. Bank interest rates are low today, but they have been closer to the inflation rate in the past, and in some cases, exceeded the inflation rate.

It is no secret that the price of bitcoin has gone up. This has not been caused by purchasing power inflation of fiat currencies. The price has increased because more people have seen the value in using bitcoin, and are willing to put their money where their mouth is.

It is important to make this distinction as some people in this forum suggests that the only reason bitcoin is increasing in value almost every year is because of the fact that the dollar depreciates in value as well. I mean if that's the case then we shouldn't be getting exponential all-time-highs like the ones we've had in the past three to four years and should only be getting minimal since the inflation of dollar seemed a bit minimal as well. I'm no economist so if I am incorrect about my argument I would appreciate if someone explains it to me better.

[SquirrelJulietGarden]

0.02 btc may seems like a small amount to you few lucky dogs here, lol. For me, it is still quite a big amount even though I have been on the forum since end of 2017.

History - signature campaigns and bounties on Bitcointalk. There were campaigns that paid more than 0.09 BTC to 0.1 BTC per month and you don't have to be outstanding posters to join. 

I wonder how many people of my type would be there who haven't made it despite being in the space for 4 years now. I am almost ashamed to admit this at times, LOL. Thanks to my present campaign though, I have stacked some Sats.

sats have higher value over time and people realize that the more expensive Bitcoin is, the more transactions they will make with satoshis, not with Bitcoin. Satoshi is fraction of Bitcoin and because they can not own more than 1 Bitcoin, they have to broadcast transactions that are smaller than 1 Bitcoin.

[aoluain]

Yup, the power of numbers on the human brain!!!

I guess this is why we see prices of .49 or .99 rather than whole numbers. If it is not a whole number we are suddenly thinking that's more of an acceptable price to pay. A whole science behind this stuff but it always helps to put it in perspective, especially when dealing with crypto

Yep. And this is why I think we should be using smaller bitcoin denominations by default; because a lot of ignorant people are unnecessarily getting attracted to "cheap" prices, thinking that the likes of XRP and DOGE will reach bitcoin's price levels even though their total supply is far far higher.

I also think we should be pricing things in smaller denominations, as in Satoshi's,
especially on exchanges, It would definitely be comparible to some $hitcoin pricing,
and would attract some more retail investment and pull them away from the above.

ATM you can get ~ 100,000 Satoshi's for $60

You should try converting 0.02 BTC to 20 mBTC or 2.000.000 satoshi.

As much as I'd want to, it's really difficult to do these kinds of mental gymnastics to my own head if 99% of services and exchanges still has BTC as the default denomination lol.

Yea I have the same but I'm getting used to working it out . . . very roughly!

$62,000
0.1BTC = $6,200
0.01BTC = $620
0.001BTC = $62
0.0001BTC = $6.20
0.0002BTC = $12.40
0.00021BTC = $12.40 + $0.62

So yea pricing the Iphone in BTC or Satoshi's is less shocking.