Topic: To those who says Bitcoin is too expensive for a virtual item - page 2. (Read 2802 times)
Great examples there mate, it just goes to show the potential value that bitcoin could achieve, if people will pay thousands for shite, how much will they be willing to pay for bitcoin ? i cant wait to see what it will become.
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. 
Splendid, nice information to read about. The first item that mentioned on the article was "The Blue Party Hat in Runescape - $1680" the price is more than bitcoin for now. Scarcity in virtual world mean very expensive cost to have one. On the other hand, bitcoin price become more expensive if the demands increase but with limited supply, that lead to scarcity too. Store of value, bitcoin known as digital money and even can compare to gold as precious things. 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. 
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
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 .
People like that you should stay far away from. People like that think ideas are not worth money and they think something must be physical to have value. People like thst just dont understand. Who knows what they think about other thinks 
wow. that's.fun fact. I think those people just do not really know what virtual items refer to. and bitcoin price is kind of expensive because it is more famous than virtual items OP mentions, so people look at it more than the other items. so they think it is expensive, but it is not.
I agree, woof woof.
twisting the question around to emphasize the expense part of the question..
well a tonne of gold is expensive
a whole company is expensive
amazons server farm is expensive
thats why you only buy
ounces
shares
racks
bitcoin allows you to buy Bits and Sats
well a tonne of gold is expensive
a whole company is expensive
amazons server farm is expensive
thats why you only buy
ounces
shares
racks
bitcoin allows you to buy Bits and Sats
Here's a few other example to use when people say "how can something virtual be so valuable":
I think you should try to find why people believe bitcoin can't have that level of value? It's a simple economics lesson based on supply and demand.
- Music, almost all of it, is digital, virtual now
- Cable TV is virtual - and most of these companies chart LOADS of money for programming
- Crowding funding is virtual
- MOST CURRENCY is virtual - how do people usually pay for goods and services? They hand over a plastic card which exchanges virtual value from one person to another
I think you should try to find why people believe bitcoin can't have that level of value? It's a simple economics lesson based on supply and demand.
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 $1 too.
Moreover to use bitcoin as a currency, price is less significant. For example a merchant is accepting bitcoin payments for selling some of goods, after that he will immediately encash those bitcoin with his bitcoin dealer. I believe there will be no bother about the price levels for the merchants in this case always.
I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? "
Where do people you meet live? People are buying cars for like 10000$-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.
Most of these people are non-bitcoiners and they have little information on the topic...so they are basically talking out of their ass. You know
those people who think they know everything about anything, but actually know very little. They also want to have something physical in their
hand to show for that amount of money. I win the argument every time, when they finally get the true picture.
-snip-
Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-
if i have to pay you just so you name me by my name, then by all means go ahead and give me names. Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-
"to pay for" is not the same as "has value", that was the whole point. Non-physical things have value, e.g. your name.
Im sorry for you Rumpelstiltskin.
-snip-
Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-
if i have to pay you just so you name me by my name, then by all means go ahead and give me names. Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-
"to pay for" is not the same as "has value", that was the whole point. Non-physical things have value, e.g. your name.
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. Exactly, there's people playing 4 figures daily for stupid ass shit like Counter Strike: Global Offensive special weapons, and by special I mean the same damn weapons that are in the default game, but with a changed skin and shit like that. Same goes for Clash Royale (you can see how youtubers make a living with those games opening random items, and spending money on the items and so on). It's insane that people are wasting money on that while being skeptical about Bitcoin. The will never learn but we will laugh we are sitting on 6 figures a coin.
-snip-
Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-
if i have to pay you just so you name me by my name, then by all means go ahead and give me names. Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on?
-snip-
"to pay for" is not the same as "has value", that was the whole point. Non-physical things have value, e.g. your name.
yeah definitely some people are missing that but in my experience this is not the main concern of the people who I know , cause they know that the local currency worth nothing too ( working a full month to get 40 plastic papers )
the main concern that I have faced is that people are afraid that there may be more coins in the future , and if they invest in BTC then maybe a new coin will steal the lights
the main concern that I have faced is that people are afraid that there may be more coins in the future , and if they invest in BTC then maybe a new coin will steal the lights
There is nothing weird about the price/value of virtual things.
It's just simple economics and it doesn't really matter if something is virtual or real.
Demand creates the price and if the demand is high, the price goes up as well.
The advantage of bitcoin, comparing to the virtual gaming items, it is that you can use the value of coin for many more things, than "only" for better game experience and also it can be changed back to fiat more easily.
It's just simple economics and it doesn't really matter if something is virtual or real.
Demand creates the price and if the demand is high, the price goes up as well.
The advantage of bitcoin, comparing to the virtual gaming items, it is that you can use the value of coin for many more things, than "only" for better game experience and also it can be changed back to fiat more easily.
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.
I can agree to the War Dog courier in Dota 2. I mean, who would pay for a virtual item that only delivers something to a player and is technically the same as any other courier, but the difference is its ethereal gem and appearance? The seller understands how rare that item is, that's why he puts a large tag price for it. Same as bitcoin; 21 mio supply and after that, the remaining existing coins would be in circulation, those that were lost are lost, no chance to recover them anymore. We pay for the things we put the value in for the first place. I don't see what's crazy in that.
but most people will tell you that you are not really paying for the item in those games. you pay for the fun with you hobby that you have.
Nope, you can have perfectly fine fun in those games without having an ultra rare skin. Their are prestige objects and I think thats a good reason to not use them as counter arguments. Domain names are a way better example that people can understand better. Whats amazon.com worth? Its just virtual. Furthermore, your name is just virtual or information, is it worthless to you? Would you be fine if I just named you Rumpelstiltskin from now on? Non-physical objects have (personal) value and there is no reason why there should be an upper bound unless it has a physical form.
every hobby makes fun even with shitty gear. people pay for better stuff to enjoy it more. same goes for gaming.
some might buy expensive stuff for hobbies to compensate but this is the same for gaming and offline stuff.
Jump to: