First ever epic sat sold for 33.3 BTC

[sokani]

Some days ago the "Buy Bitcoin" sign was sold for over $1 million dollars and I thought I had seen it all... I mean the craziest and most expensive Bitcoin artifact ever sold, but I was wrong.

Also, few days ago, we witnessed the fourth bitcoin halving and many persons were willing to splash out ridiculous amount in fees just to get their transactions in the first halving block. ViaBTC mining pool was the first to mine the halving block 840,000 and according to bitcoinmmagazine, it has auctioned the first ever epic sat for 33.3 BTC, that's about $2.1 million dollars. Crazy right? If you were super rich, would you spend such amount of money on an epic sat?




NB: Since there have been four Bitcoin halvings so far, there are only four rare epic sats and this is the first one ever sold.

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[thecodebear]

wtf...so someone spent 3.33 billion sats to buy one sat lol

not the brightest bulb eh

[SickDayIn]

Crazy right? If you were super rich, would you spend such amount of money on an epic sat?

It seems crazy to us because to us that is a lot of BTC that you could do a lot of things with, however for the purchaser they're simply making a statement - whether that's buying the Bitcoin sign or owning the first sat from the latest halving. So to answer your question, yes I would if I was rich.

However I am not, so my next option is to either start mining and pray I get some great miners fees or make a similar sign myself.

[OcTradism]

according to bitcoinmmagazine, it has auctioned the first ever epic sat for 33.3 BTC, that's about $2.1 million dollars. Crazy right?

Converting 33.3 BTC to a dust, 1 satoshi, is crazy.

It is a great way to waste your precious bitcoin and the buyer must be very big Bitcoin whale with so many bitcoins to spend 33.3.BTC for fun like this. Or there is OTC deal behind the auction scene, that we can not know, to make this crazy auction that makes people feel jealous and greedy.

What do the buyer expect?

Value of it increases to 66.6 BTC or 99.9 BTC?
It's unrealistic and I don't know about future, just think it's unrealistic.

I would like to hold my 33.3 BTC and wait for Bitcoin price to double or tripple, it is more realistic and I will never lose my 33.3 BTC for unrealistic hope.

[peter0425]

If you were super rich, would you spend such amount of money on an epic sat?

Does owning the first sat after the halving has any significance and would bring me any profit? If the answer is no, then no. I don’t know how rich these people are but they must be since they are so comfortable wasting money around they probably don’t have anything to do with their money anymore.

But maybe I am talking like this because I do not know what it feels like to be rich so every penny to me is valuable and shouldn’t be wasted.

[Poker Player]

Converting 33.3 BTC to a dust, 1 satoshi, is crazy.

That's what I don't understand. Aren't small amounts like this, considered as dust can't be sent in a valid transaction?

Regardless of this, paying that much seems like bullshit to me, and the assumption is that the one paying is because he expects that fucking satoshi to be worth more in the future.

[Z390]

This one is screaming out loud " Only for the rich" and my dear fellow friends, let's believe them.

Maybe this person, I mean the buyer has 100s of Bitcoin who knows? I don't want to believe that someone who has nothing will be willing to throw all their money on this, those people who play around with something like this are always very rich.

Who am I to say that they wasted their money? It is only the spender who can know why they spend so much money on something that may never be worth anything someday.

Either ways they should be fine, if they cab spend 33BTC plus on something like this then they must have more than 300s BTC or more? Just a guess, or maybe they are acting out on a info they got from somewhere, whatever the reason might be, this is for the super rich, we move.
With my own present stage, to hell with any epic sat.

[un_rank]

I instantly think 'money laundering' when I see auctions like this, over $2 million dollars worth of Bitcoin has moved hands, probably will get liquidated and it is entirely clean money now. This is a thought I have for the entire art industry.

- Jay -

[moneystery]

If you were super rich, would you spend such amount of money on an epic sat?

i don't and i won't, because why would i spend a lot of money just to buy unimportant things like that? it's better for me to reinvest my money in bitcoin and hold it for a longer time, compared to having to spend money on things that actually have no benefit.

[HeRetiK]

I didn't know that was a thing. But I guess of course it is.

I instantly think 'money laundering' when I see auctions like this, over $2 million dollars worth of Bitcoin has moved hands, probably will get liquidated and it is entirely clean money now. This is a thought I have for the entire art industry.

- Jay -

Also NFTs. Obviously one can only ever speculate about each specific case (I guess once you reach a certain amount of wealth, money becomes mostly meaningless), but this is how you launder money in the big leagues. And you don't even have to get your hands dirty by dealing with mixers and the like.

[tabas]

Even if I belong the super rich, I'd never spend my money buying that epic moment. It might be a piece of history that's also auctioned in other auction houses or what we see on the pawn stars. But, I'd pass on that thing. There's also a probable significance about the runes protocol at this moment but with this start, I guess that we'll start to see some of these auctioned mined block for every halving that we'll get and they'd put that into auction and up for sale. And gone will be the days that we'll just see the halving pass on as if nothing happened. The next halving on 2028 is likely to be a race for who's going to mine the 1,050,000th block.

[Don Pedro Dinero]

I instantly think 'money laundering' when I see auctions like this, over $2 million dollars worth of Bitcoin has moved hands, probably will get liquidated and it is entirely clean money now. This is a thought I have for the entire art industry.

- Jay -

Also NFTs. Obviously one can only ever speculate about each specific case (I guess once you reach a certain amount of wealth, money becomes mostly meaningless), but this is how you launder money in the big leagues. And you don't even have to get your hands dirty by dealing with mixers and the like.

I had already heard about NFTs for money laundering and now this is added. I mean, is it that easy? You have undeclared money from drug or arms sales and you sell something worth one satoshi for a couple of millions, that's it? The only thing is that you will pay 20% tax or so depending on where your tax residence is but you already have clean money. Although I'm sure from that moment on the eyes of the authorities will be on you, if they weren't already.

[Haunebu]

Insanity indeed! Elites truly reside in some other world where they are willing to cough up millions for crap like this. Personally, I wouldn't think twice about wasting money on such pointless endeavours.

Donating to charities would be a million percent more meaningful in comparison. Bizarre records!

[shield132]

I think that this is a well-planned, long-term scam attempt. A few months ago I read on Reddit one guy's post, he said that he created an NFT, a silly pixel image with no value of art, then he put it on auction, bid himself 1 BTC, bought it and then sold it for the higher price thanks to the new dumb buyer. He created money out of thin air, gave it a fake value and sold it to someone stupid.

I think that we are experiencing the same here. They try to give fake value to fakely invented "rate sats". Someone stupid with money will think that it's a good opportunity to invest in rare sats and some people will make lots of bitcoins via this scheme.

[mk4]

Would I pay 33.3 BTC for that? Nope, simply because I'm not even close to having 33.3 BTC lmao. Am I surprised? Am I against it? Not really. People pay for dumb shit every day from overpriced handbags to unnecessarily expensive NFTs, but to each their own. Free markets innit?

[DeathAngel]

This seems like money laundering to me, probably an early adopter bidding for his own sat to clean dirty money from the past. I never trust all these type of things, also high price NFT’s, they just look like a vehicle for money laundering.

[TheUltraElite]

Money laundering might be one way to explain why the person would have done it. Or it can be that someone told them that it was a rate collectible and they would have to spend so much money to get that. The person paid that 33.3BTC in FIAT money and then the person who is misguiding them converted it to BTC to for that the EPIC sat and went their way.

Bizarre indeed, but there seems to be more than what meets the eye. We dont know the other side of the story.

[dansus021]

whatttt   I know that is going super rare but definitely Im not gonna pay for it haha maybe because Im poor now but Even tho Im rich there is so much meaningful thing to do with that huge amount of money. But Super rich faimly or a person didnt care to buy hundreds or million dollar to buy something, but still that is huge chunck of money. and like everyone else said it could be a money laundry or something like that haha

[Darker45]

This is purely nonsense. I don't really see a good reason why somebody would buy 1 Satoshi with 33.3 BTC, around $2.1 million for now, much bigger in the near future. I doubt even the greater fool theory would apply here. Would a greater fool buy this same Satoshi in the future with a bigger amount? I don't think so. This particular Satoshi might even be forgotten someday. And there will be 33 halvings all in all. But then there's money laundering that un_rank talks about and all of this suddenly makes sense.

[Lucius]

Would I pay 33.3 BTC for that? Nope, simply because I'm not even close to having 33.3 BTC lmao. Am I surprised? Am I against it? Not really. People pay for dumb shit every day from overpriced handbags to unnecessarily expensive NFTs, but to each their own. Free markets innit?

Even if I had 3333 BTC, I wouldn't decide to invest in something like this, because realistically there are much better things to spend that much money on. And yet I have nothing against people spending their money the way they want, of course if it doesn't endanger me and other people.

It must be admitted that some people are really enterprising and know how to sell things that others would never think of. Smart people always say that money is all around us, you just have to decide to take it.