Topic: Buy BTC sold for 16 BTC-1 mil USD (Read 2038 times)

You are absolutely correct there are people who enjoy doing what they see or think others can't do and that is more like creating record, it can be good sometimes and sometimes it can be a waste of time I mean pointless but whether it is pointless they don't care because they just want to show off. Even till tomorrow there are things I see my friends doing, me personally I see them as waste of money or careless spending and I use to tell myself that I won't or I don't want to do this when I will have the kind of money they have but there's this saying that " it is easier said than done"  before I don't believe this saying untill I see myself doing stuffs I said I won't try In my life years back but there are still some I haven't tried and I don't even plan or wish to try them  and what  makes us do stuffs we never wanted to do is because of the influence of what we have.

Yes I agree with your line of thoughts, those potential heavy investors are the ones that give the small investment the moral to have believe on What they are investing their money in. Rich persons in the society are the ones that add values to assets, there is no doubt about that, the reason why most people question the actions of the rich people is because they feel that the rich people are overspending money or don't take time to negotiate price or the value of the asset they want to acquire, and most times people forget that the person that wants to sell out his assets or give it out want's to make profits, so he will ordinary want to sell it to the highest bidder

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.

I don't think there is any form of oppression against anyone when a rich man acquires what he or she want with a high amount of money without considering the value of such commodity, what we should know is this, rich people knows how to manipulate the market, they also know how to add value to potential assets, they Believe that if a less valuable commodity is been purchased with a huge amount of money, people will want to know why such move was taken by the individual involved and as so doing attention will be dragged to such asset, it is as simple as that, in the aspect of Bitcoin a rich or wealthy investor believe that the higher you go, the higher your potential profit in the long run, don't also forget that whales are responsible for consistent influx of investor in Bitcoin, the amount of Bitcoin they are hodling m gives people the hope and the courage to believe that Bitcoin is a reliable and trusted asset.

Sometimes most rich men do things or buy expensive asset to oppress the poor ones, most of the them buy for the future for instance a land bought $1000 can amount to $10000 in time coming, sometimes time they buy things at high cost for fun. The way a rich man will invest in Bitcoin is not same way a poor man will invest a rich man can decide to invest aggressively, accumulating enough Bitcoin not minding the present price even if it very high  because they have other source of income that will help them not to sell out there Bitcoin hodling until it got to a centre price they will want it to get to in order to make enough profit from there Bitcoin investment.

We all know that most people are holding bitcoin for profit, and some people are holding bitcoin so they will not be spied on. This case is very different from investing in bitcoin, and it has nothing to do with profit-making. The person who bought the buy bitcoin write-up for 16 BTC just wants to appreciate the creator of the buy bitcoin art for sending a message that encourages people to buy bitcoin. This is just like the NFT trade; you can go to OpenSea and create art that has no value, and you can sell it for a thousand dollars. Most people who buy NFT know they don't have value; they just want to appreciate the creator's effort.

Actually I'm not saying that you are wrong but the motive of every investors is for profits making and in as much as someone would buy something without the intentions of getting a return from which he or she has bought at the moment doesn't actually mean that profits is not in his mind because their are people who sees a good potential on something when actually at the moment that particular thing may not worth anything, so he will purchase it as if he is actually trying to promote the product and when people view it is as if he buys without the aim of making profits, while the actual plans is to make the thing very popular that people will realize the importance of the thing on their lives and from their you will see that the main reason for the purchase was for profits making because I have actually seen a similar case happened.

Some people buy things without the aim of making profit from them; they just want to help those things gain adoption and also have value or gain more value.

Well from my own perspective as a newbie I think if the buyer sells now it's going to go at a cheaper price except they now decide to hold on till some years later when Bitcoin has gain more value than it is now.
If Bitcoin is 100k or 200k to be honest I will still accumulate even at my old age because I see Bitcoin as something so special, extraordinary, valuable and something something the world will never forget and I will love to make history with it.

Some people buy things without the aim of making profit from them; they just want to help those things gain adoption and also have value or gain more value. For instance, the person who bought the "buy bitcoin sign" for 1 million dollars has helped bitcoin gain adoption. For instance, when you see the news that someone bought a "buy bitcoin sign" for 1 million dollars, you will want to know the reason why someone used such a large amount of money to buy the "buy bitcoin sign." In the process of your research, you find out the problems bitcoin will solve in the world, and you will not want to be left out. Before you know it, you will start making plans to accumulate bitcoin. Some people also buy things that will not give them profit or have no value just to appreciate the creators of those things.

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Some people buy things without the aim of making profit from them; they just want to help those things gain adoption and also have value or gain more value. For instance, the person who bought the "buy bitcoin sign" for 1 million dollars has helped bitcoin gain adoption. For instance, when you see the news that someone bought a "buy bitcoin sign" for 1 million dollars, you will want to know the reason why someone used such a large amount of money to buy the "buy bitcoin sign." In the process of your research, you find out the problems bitcoin will solve in the world, and you will not want to be left out. Before you know it, you will start making plans to accumulate bitcoin. Some people also buy things that will not give them profit or have no value just to appreciate the creators of those things.

Cool, cool you say, I don’t think many people find spending to be any cool. Perhaps you just want to show the rest of the world both audience and those that would be reading about it on the news that, someone somewhere bought that which had no value at an insane price. That’s one way of letting the rest of the world know just how much you have to throw away for some fantasy and how much an individual have to himself while the rest of the world keeps complaining about inflation, flooding and the rest of them.

One better way to make a lasting impression on yourself and the world is by helping the less privileged. Helping those who can’t help themselves. You would forever remain in their hearts and the help you give would be transferred through generations.

also just the act of doing such thing is cool imho.

I disagree with you here! Many wealthy individuals are true investors, and they approach digital arts and collectibles as an investment. Depending on the wealthy individual, they see them as a way to diversify their investment portfolio beyond traditional assets and Bitcoin. In as much as there are potential in any investment, they belief digital assets have long term potential to appreciate. While some are them are naturally into arts entirely. Their passion for art drives them so crazy that they would search for digital art or local arts to buy it as they are rich. What am trying to say here is that people interest in digital arts and collectibles varies, and their reasons for buying them is best known to them. Some potential gains with time after they must have sold it while some for beautification and making their castle look expensive.

it's literally pokemon from its game play and the entire idea, and really liked how you could bread characters or axies and create entirely new axies in the game and it also had an in game marketplace and economic where users could buy and sell those nfts within themselves, you could also build kingdom for your axis and everything in the game literally cost money, a plot of virtual land in the game was priced about 2.3 million dollars, the game even peaked to having over millions of users and most Philippines adopted the game as a secondary source of income.

Hacking has always been a major enemy of the crypto world and cost this growing game to crash, in just few weeks or days after the hack their secondary token crashed to 99% low of its last ATH, items that were worth over 300$ were now valued at less that 20$, players lost a lot of efforts in breeding and hording assets in the game, although there were able to compensate the loses of most individuals and users but the company couldn't survive the crash as players began to flee, they suffered a lose of users from 2.7 average daily players to 20000 daily players from 2021 amid the hack incident to 2023, now I guess very few persons might still be playing the game. A game that could generate more than 300 million dollars in just 2 mothers from July to August in 2021, showing how much a great potential it has.

One thing I understand about NFTs/Arts and its value attached is that most of them do not necessarily have a good purpose but some totally depend of the personality who creates or markets them or stories behind the arts.

I'm thinking of what art can be attached with Satoshi or bitcoin history just as the image @Troytech brought up.

If someone like Satoshi had an image or something related it could be over priced as an NFT as time goes on or if bitcoin was first visualised on a paper it could be the next over priced thing or if he had a diary where he wrote the whole idea, such kind of thing could be a thing if it's in the market because it would bring a lot of story out of a single image or paper.

Another crazy collectible

What do we think?

Can this ever be sold for more

So many sats for just 1

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But at some point there will maybe be very unique things with a value and purpose…

I will say it depends on how much amount of BTC or the quantity of Bitcoin and investor was able to stack or store for a Long period of time that will determine how much profit he could make . Bitcoin investment is best profitable in the future. When an investor don't have a good stash of Bitcoin in his portfolio even if he was able to hodl for long I think that is when the profit gotten with be enough. So most investor aim is to gather a good quantities of Bitcoin and hodl for longer period of time before thinking of taken the profit.

Yea, but I am sure that before people buy things they have visualize the future of the particular stuff they are purchasing to ascertain the possible value of such item, what I believe is that rich individuals always have a means of adding value to things, remember the Bitcoin whales are not the only people investing in Bitcoin but just because there presence is felt based on the quantity of Bitcoin the have in their possession, in the world today many rich people know that Bitcoin has dominated the digital market and I believe the purchase of the paper sign was for diversification, hence we know that speculation and some strong moves are the major factors that triggers investment may that's the reason for this kind of purchase, in conclusion, lets not be bothered about the money used to purchase this sign, our major concern should be the motive behind it.