Topic: Buy BTC sold for 16 BTC-1 mil USD (Read 894 times)

People don't buy these artwork because they are certain about the future value of the work skyrocketing profitably for them, anyone that has ever bought an NFT does it as with the ideology of every other investor going into the investment of any other common potential asset. For NFT just as it's been clearly narrated in the article you provided, I get it's value from the people, it's the people that gives it the value any NFT could possess, and just like the Bored Ape which was initially bought at the price of $200 but currently about a million $$ (don't you still it could depreciated below $300) now all still to the value from people such as the brand promotions it's getting with business products. It could still lose it's value in future if those promotions no more comes. What am I saying in essence? It's that whether be it the NFT that's making appreciation or others that aren't, they were all bought out of uncertainty about it's future value - investment risk

It's not solid to you, but it is to them. That piece of writing is valued by those who see value in it, just like some old forgotten African history arts and idols, which are worth a lot in the market by those who have needs for them.
 
No matter what the thing which is placed high value on there will definitely be people who will be interested in it and we be ready to pay anything just to grab it just like millions spend millions to acquire an art which took an artist just few days to draw

I think you've forgotten  that this is just a writing on a piece of paper with a signature  and on the other hand we have a SAT just like every other SAT being auctioned and sold at that huge price.
Their value can get pumped only by the same set of people who started the auction and are  interested  in keeping such ....it's  not really a solid collectible to me.

There is no certainty that the price of this artwork will appreciate in the future. Sina Estavi bought Twitter Co-founder, Jack Dorsey's first tweet as an NFT at the price of $2.9 million because he thought the price would skyrocket in the future. When he wanted to sell it the highest bidder priced it for $277. This example doesn't dispute the fact that other NFTs' value have increased.

Some NFT analysts believe that people buy these NFTs artwork to build brands around them. They gave an
example of the Bored Ape. This NFT artwork has been used by many companies to brand products. Since this artwork is popular business products can be branded and promoted with these NTFs.

people could actually buy collections for the sake of collecting, perhaps out of admiration, but there are those that buy for the sake of saving their money through collections, you see them buy many of these collections stack them for the future rather than having those money sitting in bank accounts where eyes could easily notice their networth. This is just how some of these wealthy people could choose to store their wealth against the future and  they can always sell any whenever they have a demand for bulksum of money and the chances are that the could sell at a price 2x of what they bought it.

I'm not a collector so I can't comment more harshly on their decision to buy RARE items related to Bitcoin, but to be honest, they actually want to make history, just imagine what's the point of those who buy a piece of paper "buy Bitcoin" worth tens of BTC! if not to make themselves famous, then many times the goal of rich collectors is just to find a big name or become a legend.

Well, in this case you could also argue the other way around and ask "why did he choose to give away some of his precious Bitcoin and didn't instead use fiat to show that people should get rid of their fiat and rather buy anything related to Bitcoin?"

Either way, El duderino_ was more referring to the question how to determine whether a certain value, a price paid for a collectible of that sort. I think it's dangerous to go for something because someone else did in a very unique case as you don't know who the person is. Someone could have bought a rare version of a paper or magazine he already owned and has some more lying around. Or whether it is someone who absolutely doesn't care what a piece costs when they want it. That skewes price efficiency for the average guy.

This same thing happens to those shitcoin people buys out there thinking is the best thing to invest on, same way I don't pay much attention to NFT's same i don't give a listening ears to NFTs because it could be manipulatives and same groups of people would keep playing over the price to drag the attention of other people to venture it to as you already, whom ever that wants to go into that should thoroughly do their research since is overly manipulated.

I disagree with you that is about ego, you don't cherry pick what you think is worth something to yourself and to somebody else. What you feel has value might not be seen as value to somebody else, and that is nature for you. let me even ask you, if those things you think have value where not having monetary attachment to them, whether the amount is big or small, do you think you will see those things as something of value, take for instance a diamond, which we all refer to as the precious stone, what if there is no monetary attachment to a diamond, would you still see it as something worthy of value?.
However My point is, people give monetary value to what they feel they're attached to, irrespective of what the world will think.

I had still been giving a lot of thoughts to this topic and I still feel that this wasn't a coincident or just some show off of wealth, I think he was trying to pass a message of BITCOIN IS THE BEST or get normal folks to see some kind of reason to get bitcoin, note he didn't pay in fait, I still believe that bitcoin is a better kind of money than fait and any wealth folk would already know that it's better to pay in fait than in bitcoin, ikay yeah if he didn't have any money around, its woudl be so easy for him to write a check or maybe a loan from the bank and that would be so easy for him, but rather he chose to pay in bitcoin, and what woudl do you think of that?, to me a it's a word of advice, if you want to get rich, BUY BITCOIN.

This is an interesting discussion to have, but I doubt there are any reliable frameworks to come up with a "true and fair" value. At the end of the day, it only needs one freakish investor down the line who wants that piece of paper from you and is willing to pay 3 times the price. I am sure that most of us here have been shocked at times reading how much people are willing to pay for the weirdest items. One example: First-generation iPhone sells at auction for $190,373, or nearly 380 times its original price

If I had ever thought that this would one day be possible, I'd have stocked up on those iPhones. I believe this things like the paper you mentioned can indeed have value. But how much? I stopped being shocked about collectible items or historical papers and how much they can make you in an auction. To anticipate values is so difficult because as a response some people will collect some electronics out of principle just to realize that those items will never be as valuable as this aforementioned iPhone generation.

I think it could be dependent on the narrative that you yourself could put out in public. If there was an auction of a pokemon card, isn't there huge incentive for the pokemon inventor (company or whoever) to go there and pay an absurd price? Stuff is all over the place in the media and people start buying these cards hoping they get lucky or something.

This all depends on the person who buys it and what it worths to them. Even if I had a billion dollars in my bank account, I am not even saying my networth or what my assets worth, I mean literally 1billion dollars in my bank account, I would still not spend a million dollars to this because I do not think that it worths anything, to be fair I would not be interested in this for even a dollar, it has no value to me at all, it's something I would trash and not even think about it twice.

However, according to some people apparently it had value and it did made some money for that person. Which is why what something worths is depending on the person who is willing to pay that much for that person and not for everyone around the world, quite similar to art as well.

That's just the point bro, if it's that's treasurable why didn't they kept it for themselves? These people knows how most of the rich thinks, and especially when the goods in question is being auctioned, they knows that their are crazy fellow out their that would just want to outbid everyone, just to prove his or her financial superiority among his or her pairs, and most times it's something that would not be useful or productive too them.

That's why I really do believe that this particular purchase is all about ego, the person that bought it just want to be among that very few people in the world who has the capacity to pull such a move, because I don't think he is going to make any tangible money out of it.

Every single thing that has given bitcoin the edge it has at this time deserves all the attention and recognition they are getting.
However 16 BTC with the current fiat value seems a bit high, it's very much okay to value such a historical piece that played a magnificent rule in bringing bitcoin to the limelight with such wonderful worth.
If satoshi white paper was not a popular resource that's in the public domain, it's most likely that he would have gotten similar worth as Albert Einstein.
At the end of the day what's more important, it's just a matter of contextual contribution to humanity, and when Bitcoin eventually gets the kind of public acceptance that Einstein's works has gotten globally. Then pieces as this we go a long way to becoming of a higher worth far above what we are currently evaluating it right now.

Usually auction items or items at low prices will be a special target for smart people who have a lot of money if they already know the true price of the item. And in fact we can also compare this to investors and traders who at the beginning of last year also took the opportunity to buy more Bitcoin at low prices with the aim of making more profits through that. And we ourselves, who have also seen this, don't want to just miss it, especially as we have also done research repeatedly on certain items or on Bitcoin which we are familiar with up to now.

This does works and the target can be completely clueless on what’s been done. That’s why auctions could be a madman’s den at times. Insane prices could go for just any piece from a famous dead guy who wasn’t very good in art or have an item featured in a famous battle or been to certain places.

More and more searches are lunched to getting these antiques, get it dated and there it goes with the price for collectors to pick it up. You wonder why they don’t keep ot for themselves or have it as a national treasure, which goes for some antiques and the nation of origin.

Well, am not a collector so I wouldn’t know, don’t see how am supposed to be amused with having this 16BTC in an item hanging somewhere if I don’t get to make money off it although, some of these could serve a means to preserve wealth and that’s only if you can be able to resale if need arises.

Either way, collections and collectors of stuff is another level of insanity, you really don’t get it if your not into that kind of stuff. I mean, trying to wrap my head around it alone tells me, I can’t find any reason and that’s just to say, you ain’t in that level to this yet. I hope I don’t be!

What you should understand is that in every investment two things are bound to happen, is either the value of a  potential asset drop or rise in a given period of time, the market value of every commodity or asset is been triggered by the market force or influx and this market force is cheered by investors, without investeors in bitcoin and other cryptocurrency they would have not been in existence, although we won't dispute the fact that in every investment, there are maximalist strategist, we shouldn't forget that maximalistic strategist have a way of adding value to the market.

Group of rich folks can decide to pump this paper in the next 2-3 years as you said with maximalist strategy and with this idea we may see this piece of paper going higher than we expect, lets not forget bitcoin value was not as it is today, but the progress bitcoin has made so far is because of whales and maximalist strategy which can also be applied in any other investment.

Its all a part of an investment risk just as any other investment you may know, the value go could peak high or get wasted low with years. All about these paper is that the source of it's value are the people and the people's view towards it is a veritable determinant in driving it's value. You could be shocked that the sign could worth beyond $2m in next 3yrs the next time it appears again on auction.

Manipulation too is another ploy used in giving value to some of these collections, they could just make it disappear from public for quite a long time and boom, one day they just showcase it into the market and you see a lot of hands bidding for it therefore topping it's value.

I ws just wandering if this Same piece of paper or that 1 SAT   could be auction at $2M  in the next 2~3 years.... let's see who's gonna make it value increase or we could just call it manipulations

I feel it's similar to how emotional attachment towards an object increases the value in cases of law suit.
Like say a watch whose value is just $10 and it's a family heirloom or even something that's emotionally of value to the owner
If an individual causes damage
The court wouldn't make the suspect pay the market value but also cover for emotional damages.
What am saying is value of any object is subjective
Your thoughts went into charity
While others into gaining more or immortalising themselves.

Actually, this is the only scheme, and not only a lot of people knowing each other, but often just only one person, acting with different wallets.
Market rigging at its bests, like good old times in traditional markets.

Pay $1,000,000 dollars for a piece of paper... Is it a page from the book of life? Will my name be written on it that will guarantee me a place in heaven?

I cannot fathom why anyone would pay such a crazy amount for a piece of paper that would add no value to his or her life and I wouldn't do that even if I was the richest man on earth. People are suffering all over the world and if I should give it to charity, thereby putting smiles on their faces or giving them hope not to give up, then it'd be money well spent.

It's actually true that Bitcoin is one of the most sorted after asset in the world right now, and we are a big fan of it no doubt, but that shouldn't blind our eyes to be wasting our money, by buying something like this that is a total waste, though I haven't gotten up to that level were I will even think of spending on these kind of things, but I would rather invest in something more better, which is real estate, than spending  a crazy amount of money on a stupid thing, just to message my ego.

Lastly, it's very good and logical to do your own research in any investment you want to venture into, so as to be more enlightened on what you are venturing into, because I believe that if a proper research was done, that investor will also sees it from the same angle we are seeing it, which is a total waste, unless he just want to sell it to someone as crazy as he is.

That would be the case but I don't think that anything changes to bitcoin, that sat will eventually get mixed with the other sats out there, what's the big deal? It's a stupid thing that they're doing this thing, it's NFT all over again in my opinion. I can only imagine this person not being careful and then selling this exact sat, that would suck if it upholds it's value and it didn't become as you've said just like any other satoshis out there in circulation.

I think apart from the items that we often use in everyday life, only Bitcoin is more worthy of attention and continuous purchase and this can be done by people who don't like keeping cash in their own wallets. DYOR is necessary because it will lead everyone to think independently about what they want to buy. But in the end there are always many people who are willing to admit Bitcoin as the best to buy even though they have previously spent more time doing research on anything in order to find something more worthy.

In the NFT market, what actually happens most of the time is that one person can appear to be three different bodies with a lot of funds under their control. Now they create different wallets, not linking any of them to the other, come for a particular NFT, use one account to place it in the market, and use the other to buy it at a specific price.
 
After some time, they use another account to buy it at a much higher price. The more they continue rotating this either within a different wallet controlled by one person or the same body, the more they are also becoming aware of how that particular NFt has been making so much gain.
 
Whoever buys those lies will become the victim, as they will be ready to pay twice the present price just to acquire it, hoping to sell it back to the market at a much higher price. Most of the time, it all ends up with them unless another whale falls prey.

Probably a lot more than we can imagine, they seem to tag price and value on them based on how uncommon what they want to pay for appears to be, and for whales, which so much care about being the first or only person to hold the very first pieces of it, that's if it's on NFT form, is ever ready to offer what other whales can't, that single first ever sat they will boldly tell you it's priceless and whatever price they tag on it is definitely worth it. 

It somehow seems to me that such a sign with the "signature" of the US president (regardless of who he is) would be worth much more than 16 BTC and in any case more than $1 million. I'm just starting from the fact that the US president is perhaps the most recognizable political figure for many, whether it's the US, the EU or the UK, and that a lot of people would be willing to pay a lot of money for such "art".


This is very likely possible, because regardless of the fact that $1 million seems like a lot of money to us, for some others it can be a real trifle. However, everything depends on what will happen with Bitcoin in the following years, because the value of such items will largely depend on how popular Bitcoin is at some point. Anyone who ever wants to sell it should choose the right moment, because the previous owner obviously judged very well when to offer his "work" to the market.

This intention appeals more to me, i do not think some of the rich people who buy these collectibles actually want to sell it in the future. For example, if bitcoin continues to grow like it is doing, then this "buy bitcoin" sign might be worth more than it was bought for in the long run; but i don't think most people who buy these historical items think like this.

They basically want to hodl a part/piece of history and i am pretty sure that is so much of a good feeling, of course one must have the money to buy and own it, but the end goal is prolly not to make more money from it later on.

The main problem in early stages will be

A lot of people knowing each other driving the price of a few specific items and creating higher prices for them… then a unknowing person buying at a to high price for a worthless piece being stuck to it… but yeah DYOR and buy what you deem worthy I guess

What makes some whales spend money the way they do is not that they do have it so much so that they don't know what to do with it  but some just care so much about history to the extent that they just want their path or name to be held in history even after they have long gone by doing what other whales that don't give a damn about history wouldn't bother about despite how wealthy they are.

Just as you had rightly said, "that it's now a thing in your book of significant happenings",
and this is not just you doing this there could be a thousands of  others that would have also saved the date as significant too. And probably that was what the buyer of the piece had visioned in mind before taking the step to acquire that sign. And achieving this aim alone could be sufficing to him more than what he would probably sell it for in the future.

Although rich people has a different mindset and they easily identify things that can generate money for them no matter how the poor and average people see it, many things acquired by rich people today that's later sold at a very high price is just because it rotates around them, this things are been owned by only them alone thats why it gets much attention and hype, a rich man chase money at all cost but a poor man always evaluate risk because they understand the negative effect if they eventually lose the money but a rich perosn already know how rich he or she is, so losing a pinch will not have any effect on them.

Rich fellows take more risk to make money but a poor or average people doesn't see risk as a good thing, realistically most time this mindset of not taking risk at all keeps individuals in a particular state because I believe that calculative risk do exist and if anyone wants to grow financially, risk must be involved.

You are right here. Collectibles strengthen the value of owning digital properties. Over the years there will be scarcity which would give them some uniqueness thereby creating value. This goes beyond traditional digital files which can be easily duplicated or copied. Up till these days, the passion for arts is increasing so much. The rich now buy digital art for millions or billions of dollars not just because they are expensive but because they know that in decades to come the value of that art will be sold 10 times what they had bought it.

The secrets is give value to any collectible and you can choose to give it a price you want. Since your not a fan of NFT then it is good that you are a huge fan of digital art. Such that you are willing to collect as much as you can afford.

I'm not for NFT's myself.. But it proves that digital property has value in collecting, main thing is prices will have to surge over years to become clear what the real prices will be... atm its just anyone guess and wild things happening as to many collections are coming everyday.

I don't own NFT's bc i'm not into it. But I do believe digital art will be a thing for some kind of collecting.

This threat also learning me a lot of different thinking about "collectors" about "collectors" intentions etc

ofc...

We have the I wanna do a Boss style action and be cocky spending a shit load of money/BTC bc I can and its like proving something similar like people going out to a festival (TML for example) and taking the best table with 100 bottles of alcohol paying 10-20-100k... just bc they can and want to be the Boss in their world of thinking.

Then we have the calculated thinker, knowing they buying a hyped piece which will be worth more in their mind and buying for re selling later and gain more, if it works then well calculated action. Buying and making profit is smart.

Then the collectioneur at heart... just collecting things they really appreciate and by buying giving things a value... Could be discussed, but by bidding and buying they set a standard for certain objects ... This also makes other pieces more valuable. Some people collecting stuff really appreciate it and they are happy with owning it and owning piece of that history. It's charming some people just are so interested that they wanna hold such specific things...
For me its the same like people owning cars, not to drive but collect, or wines not to drink but collect those are things that can be used for consumption or fun. Not like that paper or Einstein paper or paintings... But still those things also are being bought not for what they can use it for or for its purpose but just for collecting.

We can always discuss either if its worth it or would we yes/no pay such money if we would own that kind of money etc, but people is people and everyone is different, I wouldn't pay for it, but I can appreciate those things happening and be able to think about it, putting it in perspective.

Almost same thign as buying a lame NFT, i never really could wrap my head about NFTs or why they should have value but that's what it is. If an NFT could be bought for huge amounts then I dont think this buyer is crazy enough to buy this piece of paper, maybe he thinks it has value equal to what he spent on it.

What a crazy world you really can expect anything.

Also make me thinking

The very very first sat.... What kind of BTC would be paid for that 

I wouldn't either buy it.... But it is a thing in my book of significant happening, it made some mainstream visibility and some good meme's etc ... also just the act of doing such thing is cool imho.

Nah pay more... for first a paper has to been spoken over and need to gain some popularity over years... so in BTC terms it will always be difficult to beat.
Imagine 1 BTC= 200,000$ then 16 BTC would be way more ...

Also the feeling of a copy thing just to sell it bc another one did well isn't what collectors are looking for, originality, rarity, historical etc matters

That last part would be special, but I don't think it would be worth more.... back in the day (Yellen) then BTC was still more under the radar, not known as today... and it would feel like a copycat etc therefor I don't think the value would be close to the same.... BUT I do think if that same individual would draw a simular original and is close by the president on an important speech then maybe yes...

I also think over time the one who bought it for 16 BTC will be able selling it for more in FIAT terms (BTC difficult to say, depends on price surge) and especially on certain timings.

Hmm the sat doesn't necessarily has another value for everyone... it still can be spend as another sat, will not be spend as another one probably and will remain in cold storage until someone else want to buy it at a higher price (if the owner want to sell it) ... but its still just a sat.

It is not everyday that a "Buy bitcoin" sign is flashed in the U.S congress when the Federal Reserve chair is giving a speech, that is what makes it unique and there is no such paper like it in the world, that is why it is rare. Mind you that i would not spend anything close to this amount for this, but maybe i cannot be sure about that as i am not as rich as the BTC whale who bought it, it is better to talk about certain decisions when you actually can afford it.

I think it is still a normal satoshi but it's also rare at the same time. I know there is now an NFT in BTC and maybe this epic sat is truly considered to be one of it? If so then I don't see anything wrong when people believe on that but it's up to you if you won't join them. We are not forced here anyway. Some people are only greedy and will always find a way on how can they make more money.

For me, I think what is crazy is not the epic sat but that piece of paper there called "buy bitcoin". In my opinion, it's not that even rare and anyone can do that. Sometimes I don't understand what is happening here in the world or with the people, lol.

For me I don't think it's only about the show of, most persons just attach value to what they like. for what it's worth, people who don't have that much of wealth too would want to do same thing if the opportunity presents it's self, so at some point too the money to gives the wealthy people the leverage to make people's passion come into fruition.

Sometimes people buy a painting of different inscription with millions of dollars which most people will see the painting as worthless stuff, However it doesn't show that they are wasting their money, they are buying things that are of value to them, the world may see it differently, but it doesn't change anything for the person that has bought it, because at the end of the day people will still have something to say regardless of the situation.

That's just it, most of this wealthy people does all this things to just show off or just to be among that few individual who have the financial power do it, it might sound stupid to the common man, but to the rich, it means a lot to them, and of a fact, this is just one of the stupid things the rich people spend more on, something they mostly don't need, and just as orpichukwu has already said, if they no longer needs it, they might decide to sell it to another crazy rich fellow, so that's just the reality.

And lastly, you also need to understand that most of this wealthy people sees money as nothing, because they have actually not faced what an average person usually face, so they spend money on things an average person will call stupid, just as this, so the truth of the matter is that, the rich, average and poor people all think differently.

This is you sharing your own opinion on how you feel about it. On the other side, a lot of us wouldn't try to acquire any piece of paper or art that has no use to us, but these collectors, who like collectibles a lot, think differently, especially those rich Wahala's who are looking for means to spend and make some BTC and make things popular. 
 
What I see here is that some people use money to get more money or fame. That paper is hyped and is the perfect piece to get the kind of attention they need. It could easily be sold out again to another wahala with just a little hype on it. 

I wouldn't buy that sign even if I was a billionaire, because I don't see any significance in it. Yeah a dude held it and it generated some hype in Bitcoin community for a week - so what? In my book that wasn't a significant moment in Bitcoin's history. The fact that it was sold for $1M is just another example that there are Bitcoin whales who sit on large amounts of coins and can easily spend $$ millions on some overpriced stuff.

Personally I think I was more about sending a message to the public to impose some kind of thought to buy bitcoin, unless so I don't see a reason worth spending a million dollar on a piece of paper.

Compared to Einstein note I think this piece of paper could one day be sought for as a memorable historical art of bitcoin from its early days and it could be some kind of relic that bitcoin enthusiast would want to have, maybe to hang on
a wall or some collectibles etc, the rich have this habit of buying stuffs out of passion.

Thigns are priced by the amount of value given to them by a person or the public at large, so yeah it's possible to continue to grow in value as long as people continue to view it that way.

Someone will definitely pay more for it, hamans wants differs at every point in time and there is no way we can generalize what one will  want to do with his or her money with  that of others, am asserting that someone will pay more probably to break the record of the previous and gain fame as to this regards where references can also be made just as what we are doing now even in the future generations to come, there are those who derives joy standing out of the crowd to do what others can not possibly do which will give them a hedge over the others and make then feel they are the top class stratification that will always be talked about. However, every man will only make that informed decisions of spending based on his or her financial ability,  dreams and aspirations.

That paper has some value if it is placed in the context of the moment and time in which it was created - that is, as some kind of message to the system, given that it appeared behind Janet Yellen while she was giving some kind of speech in front of the US Congress. For this reason, I can find justification that someone paid 16 BTC for the same, especially if that person has so much BTC that this amount does not represent any significant expenditure.

There will always be some items that will be valuable to collectors, but only their "originality" and rarity will determine their price. If someone managed to write that same message on paper and take a picture with, say, the current president of the US - would someone pay more or less for that piece of paper than the one that was recently sold?

@barikui1, we aren't ready for this debate right now, all am saying is wait till a man is in bastard money that's when we can say of his character but until then all I know is that there is that amount of money a person will have and he will go to places and do things he never was known for.  Some may not want to do them openly to public knowledge but privately.

Do your check carefully, there are other areas that man must be spending his money.

It’s the rubbish I’ve been trying to contend with over the past week since I heard about ordinals. Just how did this mathematics came to be, where
1sat would be equivalent to a Bitcoin. I mean, where do we start this reverse psychology.

1Bitcoin is supposedly equivalent to 381825124.09316530 Satoshi (Value determined by 3Commas online Bitcoin calculator).
Mathematically:
1 BTC = 381825124.09316530 Sat.

Now, due to some ordinals we get the reverse psychology where:
33.3 BTC = 1sat that is:
12714776632.30240449 Sat = 1Sat.

All due to position and your just a collector. What sort of rubbish is that!
That’s some just how insanely humans could act. I ain’t collecting nothing for that.

1sat = 1 sat
Just as
1BTC = 1 BTC.

This maths applies anywhere, all I know.

You are very much correct in this part no doubt, but you also need to know that their are some set of people that money and power can't change, you see those set of people, they are mostly rare, it can be either positive or negative, but the main thing is that money can't influence them easily, they are still the Mr A or Mr B we all know, their behavior or their spending rate don't change regardless of the financial power they now have.

Am saying this because their is a man I know very well in my locality that is very crafty or stingy, he hardly gives out something easily even to his offsprings, due to how stingy he is, you can't know how wealthy he is because he hardly spend on himself talkless of spending on someone else, so you see these types of people, even money cannot change them, because they are rooted down to who they are.

My problem with this "epic sat" being auctioned and sold for 33.3 bitcoin is that it tends to make people believe that bitcoin is non-fungible when indeed it is fungible, this sat now has a different value and can no longer be interchanged with another sat of equal value, when ordinarily it should.

I don't have a problem when things like the "buy bitcoin" paper is being auctioned, of course it is non-fungible and there is something that makes it unique and differentiates it from other pieces of paper or similar writings on them, but bitcoin as a currency is fungible and any utxo should be interchangeable with another one of the same value.

Yea, decision making when you don't have money can be reversed when the money finally comes, money has influence on human beings and thats why as an average or poor person, don't list what you wont do when you have money because a rich man will always want to do things to his standard, there are supermarkets and average stores, as we know, there price list may not be the same too, poor or average people will see it as a waste of funds by going to the supersmarket where prices are high to get some items because they will feel that since is the same stuff why will they waste such money, but rich people wont think that way, they willl see the expenses as nothing hence they can afford as many as they want.
Lets be sincere if the poor people eventually becomes rich too, they will still visit that same place that they perceived as being expensive earlier, thats life, poverty has its own mentality so do wealth and riches too.

Sad truth. Another proof to disclaim Aristotle that humans are rational animals.
But buying Pele shoes is kinda different from this
It's inherent value was defined by Casey who is taking Bitcoin Sat's as ordinals
Satoshi never made any satoshi unique or better than the others 
https://ordinalsbot.medium.com/a-deep-dive-into-rare-sats-the-most-sought-after-collectibles-da167e355018
The link above would show it's definition of various Sat's and their raririty
These collectibles are no different from ordinals so definitely don't see it worthing the price.

Personally would rather hold a real BTC worth said amount than going for a Sat, not to forget converting BTC to cash would be way easier than the collectibles.
If I don't want to invest I can better still use the money travel around and try new cuisines

With Bitcoin expected to experience 33 halving
We would be seeing 33 epic Sat's
I'm curious where the previous three are located at.

Let's see how much the so called legendary sat would go for.

16 BTC for an inscription on a piece of paper, I feel is all about adding value or sending a message to the consciousness of people how valuable it can be to invest in BTC, and for that person to hold it in a public display in the parliament or that kind of setting sort of gives it a different aura, especially considering the fact that it's been televised.
So ordinary people give value to things they find passion for, just like in football, the boots KING PELE of Brazil used to play during his time can as well be placed on an auction like this too, and surprisingly you will see the amount people will be ready to pay to have it.

You are actually right bro, when I saw this your post I just smiles because as humans that we are, we sometimes find ourselves doing things we never thought of doing in the past, their is a saying about what you just said in this your post in my locality, which we most times have a good laugh at, which is;  a poor man will say that he doesn't like 🍻 beer because it's too bitter,  though it sounds funny but that's the reality of someone without money,  the rich thinks differently compared to the poor, they mostly do things they feels like an average person can't do, let them just be among the very few people that have the ability to do it, to them it's a plus to their name, while to a common man, it's just a waste of money.

Their was once a time I said that buying an iphone is a total waste of money, due to the fact that it was too expensive, and an Android is cheaper and it can give me all in need in a phone, and financially then, I wasn't that stable, but look at me today, I bought the latest iphone without even considering how costly it is because the money is available, so just as lida93 had already said, till we have money in bastard amount, we actually wouldn't know what we can do and what we can't do.

Everything that has played out to giving Bitcoin the edge it has at this moment deserves the attention and recognition they are getting and although 16BTC with the current fiat value seems abit high, it's still relatively okay to value such an historical piece that played a unique role in bringing Bitcoin to the limelight with such worth.  If satoshis white paper wasn't a popular resource that's in the public domain, it's most likely that it would have gotten similar worth as Albert Einstein note. At the end of the day, it's just a matter of contextual contribution to humanity, and when Bitcoin eventually gets the kind of public acceptance that Einstein works has from the globe, then pieces as this will go a long way to becoming of a higher worth far above what we're currently evaluating it now.

Source Link: https://bitcointalksearch.org/topic/m.50712466

You can get a lot of help from this post, so feel free to visit this link.

The "Buy BTC" sign is a real collectible, so I won't really care too much.

But, this unique sats is auctioned? come on, why more and more people are now treating Bitcoin as non fungible?

This sats belong to fourth halving, that sats belong to criminal, this sats belong to hamas, that sats belong to Putin and so on. If people keep treating Bitcoin as non fungible, they also have a fallacy like centralized exchanges who always differentiate between "tainted" coins and "clean" coins.

It would be best to hold on to Bitcoin, as we have a bull market to look forward to next.

#Bitcoin    is freedom money



Source Link: https://twitter.com/BitcoinMagazine/status/1783610533632950766?t=uIXLQutyrFVhrbE34KWDjw&s=19

There are actions we just wanna carry out just to massage our ego in as much as the money is there to spend. It wouldn't necessarily seem like a waste to you by then because to you at that very moment it's like doing what many people can't even afford to do.

There are places I said to myself 10 years back I won't visit no matter the money I was going to make because at that time I previewed it to be a waste or something stupid to do with money. But guess what today! I visit a few of those places like thrice in a year now just because of the momentary feeling that comes with been there.

Money has a way of twisting our vibes, particularly too much money. We just have to be patient till we have it in that bastard amount to know what we will do and what we won't do.

In terms of BTC I don’t think there is a lot of profit in the future

When BTC appreciates in price let’s say 150k or 300k

Then I don’t think more as 16 BTC will be paid for the paper …

I can't really tell how rich people think
Well I guess it's a form of a bragging right
Like "well you know I'm the owner of the epic Sat in the fourth halving "
I will call it stupid but the buyer would call it a collectible.
I guess value is subjective.

If the buyer sells now it's going to go at a cheaper price except they choose to wait let's say years later
When the popularity of Bitcoin has gone further than this.
With 100K BTC,even in my 80's I think I would buy it
I don't know it feels like a form of immortalising oneself
The world would remember you when you gone.

Would I spend 1,000,000 on that sign no I would not.

Even If I was stupid rich (say 100,000 btc).

To be honest I would be interested to see if the buyer sells it again and what for.

Now if I was 25 with 100,000 btc I may spend it as a goof.

Personally either if I could or couldn't buy it or let us say even if I had to possibility to buy it with pocket change.... then still I wouldn't just not that interested and to much sense of money not well spend, I get it that some people value those things at extreme prices.... But my priorities myself will always be different I guess.

I feel like both of these (the bid for the first sat and the bifd for "buy bitcoin") are the result of people not knowing what to do with the money.

Nobody on a normal wealth level would do that. 33 BTC is over $2 million, which for most people is more than total value of assets they own and will own in their whole lifespan. For instance, both of my parents together, each living past 80, never reached that number, so you must already have everything you could dream of to buy a piece of paper with one word for a million dollars.

Value is subjective, but I wouldn't even have the money to buy that, even if I wanted to. Not to mention that I could think of a 100 things I'd rather buy than this.

Not too surprised  
If  this same people could pay outrageous huge   fees  to get  their little transaction in the last block before halving then they are capable of doing this too .
My question  is how's  this sat different  from other sats
Congrats to ViaBTC, they  must feel like a king now  

Another crazy collectible

What do we think?

Can this ever be sold for more

So many sats for just 1

The purpose is making it more solid to uphold investors beliefs ,
For instance you have a software with users  and you sold the name  of that software written on a piece of paper  for a huge sum , you should expect more users of that software without stressing it,
The part of beign a good investment  in term of FIAT compared to other writings like Einstein is hard to determine because  I could relate something like this to that of a NFT ( some NFT bought with hundreds of thousands are now worthless now) just saying the opposite might be achived amd he mightsold it higher,probably  he's  just buying to add to his collection .... hang on a wall just as you've  said maybe forever.
The Seller bacame recognised   after he brought 3.7% increase in the price of Bitcoin besides he has being  digging for some time now  

In 2019, Langalis created and sold 21 replicas of the sign, which sold for an average price of 0.8 BTC, worth about $51,300 today.
Source
This is soft...

The rich ppl are here, what bitcoin enthusiast wouldn’t want this in their art collection even if it’s piece #1. Not sure I would fork over 16 Btc but wouldn’t mind this hanging on my wall either. It’s iconic :-)

Ohh yeah I think I came across something related to that Also , let's me drop the link if it's the correct one . Well is it this one then [Auction | NO MINIMUM BID] The Times 03 Jan 2009 | 10% to FreeRoss.org


To be honest 16 BTC seems too much , but I believe in a long run it may tend to have higher value than that . Bitcoin is something that have grown with evidence that it's deserves all the respect it can get . So appreciating the things that lead bitcoin to this state it is now is another way of showing those respects, and it would definitely look good hanging it on the wall   .

Nope not the one

The correct has an auction starting at 40btc

They lowered the starting bid though… (it’s somewhere in collectibles)

I believe this is the link [SELL] Original Times Newspaper from 3 January 2009 - quoted in genesis block

Had a few worths on this auction and like to expand the discussion...

What do we think about it and are there many other moments which created a historical piece that could provide high prices in BTC or FIAT terms?
And with what kind of others pieces can we compare a piece like this one..

https://x.com/BTC_Archive/status/1783424287438713334


would it be worth more as this Einstein note over time?

https://edition.cnn.com/style/article/einstein-handwritten-notes-auction/index.html

*In terms of FIAT not in terms of 16 BTC ...

I mean in terms of FIAT stricktly, would it be a good investment comparing with a paper like the Einstein one or compared with a Football, Pokemon card etc

It seems to be a historical collectible just like the newspaper where BTC was mentioned for the first time...(I do remember an auction for the paper was held on this forum, but can't find the link anymore, if someone can add it in this thread its merit worthy imo...)

Could this BTC outperform a lot of them? It could act like a cool piece on the wall, but better like some famous paintings etc??

Pieces with historical mentionings got value, but whats the correct price or how can we value a specific paper like this one and which will follow this Buy Bitcoin paper in the future?
There gotta be more of them...