Topic: Buy BTC sold for 16 BTC-1 mil USD - page 2. (Read 2041 times)

That's what the pizza guy said as well, they want to make it more famous, or basically get adopted, like make people realize that they can buy pizza with bitcoin so it is real money. What people do not understand is that, very few things in the world got bought with bitcoin before that pizza, it was something quite low in price and wasn't used much at all, it was a hobbyist thing and nothing more.

I believe that the best thing to do in this case would be just realizing that we are way ahead of everything else in this subject. Thanks to him, we have seen for the first time that bitcoin can be used to buy something tangible, like pizza. That really did help with growth of bitcoin without a doubt, it allowed people to see bitcoin in a different light.

There are people who are greater than the whales yet they cannot be noticed. Bitcoin whales are investors who want themselves to be recognized in the system. But trust there are investors investing though the ETFs and these people has invested billions or trillions into Bitcoin without making any online presence or be identified by Bitcoin detectives. The only way they can be noticed is when the  ETF snitches on them to the detective which is not a thing we see often. I believe that it is one of the advantages of investing in ETF because you can remain anonymous.

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.

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.

Your right mate, 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.

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.

BC was also the acronym for a POS coin made in about 2014 I think, I used to trade and stake it all the time also known as BLK.   I dont think I can remember BTC ever being traded as BC for as long as Ive been on exchanges but I might have missed it.

People will always go after collectibles and try to buy something they think will accumulate value for that idea of rare.   I only personally rate the useful items that might also happen to be rare, I guess classic cars are still a nonsense price despite in theory being a practical useful product also.

The true definition for prices without distortion is productivity, if you gain more then you lose by buying something then this item has true worth beyond its price tag.   You have the proverbial golden goose, in theory that is what capitalism is about and money is just about allowing the reliable capitalization of good ideas/products throughout the world.

Price tags are not value they are just labels trying to describe and balance supply vs demand at this precise time on the day, its a given the price tag is never perfectly balanced or accurate.  The product value even with BTC pricing is something we must strive to describe better then just todays price.

Axie infinity was "basically" pokemon, they couldn't put the names there, but that's what they set out to do, in a trademark avoiding manner. It wasn't that bad, there were limited numbers of certain axies, and the only way to make it was breeding, which meant that you get to spend your earnings if you want to breed and have more, which meant that the token supply didn't go that high.

But that unfortunate hacking made people not continue with the game and just completely withdraw, meaning nobody breed, and the few who did couldn't find any players to sell to, which dropped the prices and of course everything went to hell after that. Hacking and hackers are the number one trouble in the crypto world, they always ruin everything that is fun.

Maybe its because we are not rich to a certain extent whereby our thinking and mentality will be obviously different from others, if you had known the brain behind what makes the rich maintain their wealth, then you will also discover that there kind of decision on this is not weird at all, first of all you will have to agree with me that this is also a means of making an investment, not only that, we are considering bitcoin in this stance, which is believed to have a lot of future benefits and prospects ahead of time, all these are what the rich foresee and use in making decision on making an investment not minding at the present cost, but setting priority at what the future tends to offer after they have invested and hodl.

I agree with you that rich people spend money recklessly but we still have rich folks that channels their money/wealth wisely into meaning things,meaning things like investing on Projects that will create employments, Donating huge amount of money to the vulnerable/Charity homes,contribute immensely to community development.

The rich folk that splashes a million dollars on a piece of bitcoin paper might look like a reckless spender but you should also know that our ways of seeing things are different. I don't thing he would buy that piece paper if its not valuable,that piece of paper he bought can appreciate in values and can be sold in the future twice the amount it  was bought.

It doesn't require much courage to but bitcoin, beside bitcoin is one of the best asset in the world right now and all those that have gotten in are still blind or haven't realised that bitcoin is a better store of value and currency that faits, I Don't want to dive into all the importance and difference between both of them

For those who buy Bitcoin with that amount of money, this is quite courageous, because basically Bitcoin is a digital currency that does not have a physical form and has a very high risk which could result in the assets we own being lost if not used. take care of it well and correctly. But the benefits offered from Bitcoin are also very large because basically Bitcoin still has the opportunity to become very expensive more than this.

Before the rich would spend money on digital art or something we see less is because value was giving to it. The digital marketers would always say you can sell anything to anyone as long as that thing has value. If we go to recreational places and center our attention in the art area we would notice or see sculptures, paintings, artifacts and lots of objects. The poor sees those objects as normal things but the rich sees them as precious and valuable objects. They can spend 5 million dollars on such object and because if his personality he can resell that object for an amount three time the actual amount. And we may wonders why? Yes, for buying the object his reputation has giving it more value that is why whoever next that is buying it would consider it valuable and would want to pay higher for it.

Rich people do things to their standard, you may see it as reckless spending but most times they do things with information and Believe that it can be valuable in the future, the value of every asset is as a result of individual force which is the market for in reality, no one knows what the future holds, we never can tell what will become of this paper in the future, this paper may become one of the most valued asset, the amount that was used to purchase this paper may look outrageous but you should also know that this may give individuals reason to buy this paper too before you know it there will be more interested individuals in the system, I know that different people have perception about things but I don't think this paper is money laundering in disguise, I just believe that there is another form of investment coming soon.
If you won't pay much for this as you said, what if you wake up one morning and hear that this stuff has pumped in price won't you regret it, values are added to thing by humans for that reason every sellable item is an asset.

Hmm make sense... something  like a  virtual  collection to physical collection.
The randomness(by selection or distribution) and surprise could be made virtual then the physical  collection could be packed and distributed  each  with a collection  ID .... I don't  know if I'm  on point  here.

Rich people really do not know how to spend their money, I mean why would you want to buy something like this? I get that it's bitcoin history, but it is not even that much of a big history of bitcoin at all. In fact, I would say that buying this for a million dollars is a bigger history of bitcoin then the paper itself, doesn't really make sense to me that it would be something this big and I would say anything more than one bitcoin is way too much for this.

I am not saying that I would pay that much, I know that it won't and the resell value of this is nothing, I am just saying even if I had billions, the most I would pay for this would be just one bitcoin and nothing more than that, it doesn't really make sense otherwise.

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.

I think the contribution of certain historical moments to the present and the future is mixed with opportunities, especially investment opportunities and inspiration. These are the moments that inspired Bitcoin evolution and its massive market today and in the future. Actually 16 Bitcoin seems like a lot but of course there could be many factors behind it. It is not just a piece of paper it is one of the historical moments which I am pretty sure will increase in value in the future. The significance of this can certainly help provide investors with insight to better navigate large assets like Bitcoin.

Random distribution would play an Important role in the game, so that getting unique nfts would be based on luck but I think it also needs a well functional marketplace for those nfts to be traded, and that was one major challenge that Axie Infinity faced, they has to depend on a inflow of new comers for their system to be fully functional.

Anyway I think the world of NFTs and gaming us still under development and not too long we would have a very cool game where people could earn or mint nfts and earn cool cash.

Ah cool never seen before...


But I do think a game or something like it could create a collectible kind of world were people could be in for...

it just need some random distribution etc