Topic: To those who says Bitcoin is too expensive for a virtual item (Read 2751 times)
The price of bitcoin is really expensive because it is not your ordinary digital item. It has it's own market and it's value is very volatile. You can actually earn from it and use it as an investment compare to the other digital items that you can buy online. You;ll never know if you buy bitcoin now and keep it, after a year or two its value might double.
If those people are paying bills for the internet connection or television connection then they have no right to make a complaint about the price of cryptocurrencies. It's not about the digital item or something like that. It's all about mutual trust that a particular thing posses. If we apply their logic then selling $10 worth of items for a paper note (written $10 on it) is also expensive.
Nowadays, as there is no World War or huge economic crisis, people tend to believe the virtual reality even more than the real world. I'll gave you an example. Once I made a soup and it looked dark blue to me and my mate. When we made a photo of it to send to our friend, it looked red, just like it had to look like. And a friend said that rather our eyes have mistaken percieving the color than a camera.
That's why nowadays bitcoin costs a lot, just like other virtual things. And there is nothing wrong about it. It just shows that people believe in science and IT.
That's why nowadays bitcoin costs a lot, just like other virtual things. And there is nothing wrong about it. It just shows that people believe in science and IT.
I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "
My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,
https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s
No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in
circulation, give or take a few million, and THAT makes it rare.
Do the math, and see where this is going. 
My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,
https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s
No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in
circulation, give or take a few million, and THAT makes it rare.
Do the math, and see where this is going. Those people who said that bitcoin is very expensive are actually right. But thats the one thing we love about bitcoin its increasing value. I dont mind people talking and criticizing about bitcoin but the important thing is that bitcoin gives me extra profit and has made my life free from debt. Bitcoin has changed my life and those people who are against bitcoin will just regret in time when bitcoin will be accepted in almost every shop in the world.
I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "
My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,
https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s
No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in
circulation, give or take a few million, and THAT makes it rare. Do the math, and see where this is going.
That is right, those people who are more often complains that bitcoin is very expensive for being a virtual item then they didn't know how bitcoin works and what are the advantages of using it. If they will just study how bitcoin does it works then they will realize that they are wrong because in my opinion, the price of an item depends on its value or what are the good things in it just like bitcoin it have a lot of features like anonymity,volatility and it is virtual so i just need internet to do transactions. My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,
https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s
No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in
circulation, give or take a few million, and THAT makes it rare.
Do the math, and see where this is going. 
ARE YOU SERIOUS? Those servers can go down anytime, why are they valuing those items at those prices? If there was a scam worse than altcoins then those are it! The good thing is it could make us more optimistic with Bitcoin even if it has its limitations. If a sword from Age of Wulin can be valued at 16,000 dollars then so will the first revolutionary cryptocurrency.
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
these are good examples. i am going to include them in my answers whenever i am trying to tell someone about bitcoin and they have a hard time understanding why bitcoin is expensive and is going to be more expensive as times passes by.
I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "
My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,
https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s
No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in
circulation, give or take a few million, and THAT makes it rare. Do the math, and see where this is going.
My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,
https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s
No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in
circulation, give or take a few million, and THAT makes it rare.
Do the math, and see where this is going. You definitely nailed it with your analogy and explanation. I usually have that question when I'm talking with my friends about BTC. They can't believe that an online currency is worth a thousand dollars and its price still continues to increase as time goes by. I'll use your examples when they ask me about it again. I know that some of them played those games and there's a high chance that they also know those items with high value.
I don't understand why some people always attach significance to price, if you are using Bitcoin most transactions you have discount especially on purse.io and others. It is cheaper to use Bitcoin nowadays
Digital Scarcity huh. That's a great narrative.
It's a convincing and conclusive explanation. Unlike the other usual explanations/introductions, I've seen
(mathematical formulas, software programs, network, etcetera.)
Splendid analogy and comparisons. At least it'd help me better explain what bitcoin is, for those curious friends. Thx!
It's a convincing and conclusive explanation. Unlike the other usual explanations/introductions, I've seen
(mathematical formulas, software programs, network, etcetera.)
Splendid analogy and comparisons. At least it'd help me better explain what bitcoin is, for those curious friends.
Thx!
Nothing is too expensive for a digital item. The only thing that matters is the market cap, and the market cap for Bitcoin is obviously much lower than the value of any fiat currency.
What people don't understand is that the value of virtual items is just whatever people give them. Online fiat spending is still just numbers on a screen, what matters is what it represents. Fiat currencies aren't always even backed up by gold anymore - in the UK, for example, there are far less gold reserves than before, but this has not automatically resulted in inflation.
What people don't understand is that the value of virtual items is just whatever people give them. Online fiat spending is still just numbers on a screen, what matters is what it represents. Fiat currencies aren't always even backed up by gold anymore - in the UK, for example, there are far less gold reserves than before, but this has not automatically resulted in inflation.
Nice comparison to other virtual commodity/item or stuff. Indeed, some are very expensive compared to bitcoin as I am also familiar with Second Life.It is the demand and opportunity that makes this crypto continue to rise.
I really did not know that people would spend this much amount of money for virtual things and to be frank i am not sure what those items are. How come they are able to spend this much amount of money just to purchase gaming skins and equipment. Do those items have resale value .
but i think that people are already spending a lot for trading such virtual currency. in fact the mind of the modern people is completely changed they consider bitcoin as their future currency and that is why they are trying to buy bitcoin and we can see that the demand of bitcoin is continuously increase which is a also causing the increase i price of bitcoin. 
I really did not know that people would spend this much amount of money for virtual things and to be frank i am not sure what those items are. How come they are able to spend this much amount of money just to purchase gaming skins and equipment. Do those items have resale value .
but i think that people are already spending a lot for trading such virtual currency. in fact the mind of the modern people is completely changed they consider bitcoin as their future currency and that is why they are trying to buy bitcoin and we can see that the demand of bitcoin is continuously increase which is a also causing the increase i price of bitcoin. 
I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "
Where do people you meet live? People are buying cars for like 10000$-30000$ on average and bitcoin for 900$-1000$ is expensive? Its not , its great investment.People will realize it after 10 years will pass from now, like with introduction of internet.
Also, kinda weird to be comparing cars to Bitcoin, totally different things and not a great argument that you're making there tbh.
Too expensive? That's crazy. Just because total strangers, 8,000 miles away, gambling on Bitcoin price like they play PaiGow, that don't care at all about the ideals behind Bitcoin, living in the most oppressive country in the world are controlling the price and can lose thousands of dollars of my money overnight, why would I think it's too expensive?
February 25, 2017, 09:31:27 PM
I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "
My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,
https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s
No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in
circulation, give or take a few million, and THAT makes it rare. Do the math, and see where this is going.
This is a nice way to explain it, it may seem odd for some that you can apply the same concept of scarcity to a digital item since we are used to being able to duplicate our files with a few clicks but the truth is that digital scarcity is everywhere. My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this :
•Eve Online Revenant Super Carrier – $9,000.
•Echoing Fury Mace from Diablo 3 – $14,000.
•Age of Wulin Sword – $16,000.
•Ethereal Flames Pink War Dog in Dota 2 – $38,000.
•Amsterdam from Second Life – $50,000.
•Crystal Palace from Entropia Universe – $330,000.
•Club Neverdie in Entropia Universe – $635,000.
Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video,
https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35s
No, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in
circulation, give or take a few million, and THAT makes it rare.
Do the math, and see where this is going. 
February 25, 2017, 05:43:38 PM
Bitcoin is expensive, but not big as people say. It's just a store of value where we can save $100 or a very big number based on affordability. So the buying chances of bitcoin even from small denomination makes it inexpensive that anyone who believe digital assets can buy and profit.
February 25, 2017, 05:33:58 PM
I really did not know that people would spend this much amount of money for virtual things and to be frank i am not sure what those items are. How come they are able to spend this much amount of money just to purchase gaming skins and equipment. Do those items have resale value .
it`s better to spend the bitcoins on digitalk goods than to spend them on drugs
Why are you bringing up drugs
Yes these items have resale value they exactly the same as the stock market. Prices go up prices go down.
Supply and demand is the basics of business.
I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive?
You need to explain them :Bitcoin cannot be expensive as long as it is divisible. We can buy some bitcoins for even $1 too.
Moreover to use bitcoin as a currency, price is less significant. For example a merchant is accepting bitcoin payments for selling some of goods, after that he will immediately encash those bitcoin with his bitcoin dealer. I believe there will be no bother about the price levels for the merchants in this case always.
Bitcoin is expensive but satoshi is almost free you can claim hundreds to thousands of those every hour for FREE.
Yes People always look at the whole not realizing it can be taken by part. I used to look at it that way before but now I realized Bitcoin is almost free if you take it parts by parts. It will take time though. Jump to: