To those who says Bitcoin is too expensive for a virtual item - page 3.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: p_linz on January 08, 2017, 07:54:10 AM

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.

p_linz

member

Activity: 113

Merit: 10

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. also most would say that people are crazy who pay so much for those digital goods, just like the people who buy bitcoin.

20kevin20

legendary

Activity: 1134

Merit: 1598

You forgot other in-game items from games like CS:GO, where weapons' skins can cost dozens of thousands of dollars just because it's a rare pattern. Bitcoin isn't expensive but many cannot afford it, including me. We've seen other useless things that cost a fortune, but some people can buy it because of their monthly earnings. Bitcoin also isn't a virtual item, it's actually a currency that can be used anonymously online. You can transfer funds to anyone without that person ever knowing who you are. If it was an item, I wouldn't try to earn it either.

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

there was a topic here about terminology and not calling bitcoin words like virtual that i liked. and i think it shouldn't be called things like that.
and to those who call bitcoin virtual, digital,... you take the scarcity approach but i always point out how everything else is virtual. for example the number they see on their Paypal account, or their credit card account is virtual. but bitcoin is more than real because you programatically own bitcoin and nobody can take that away from you.

Jet Cash

legendary

Activity: 2814

Merit: 2472

https://JetCash.com

Why don't you mention Internet domain names - those are virtual real estate.
And then there are fiat bank deposits. Those have no asset backing whatsoever. At least Bitcoin has a PoW asset backing, but that is a difficult concept for many to understand.

Blawpaw

legendary

Activity: 1596

Merit: 1027

I totally agree with you on this one. One of the examples you can also always mention about is the items in Starship Citizen. One spaceship on this online multiplayer game can go up to 16.000 Euros and even more

Kprawn

legendary

Activity: 1904

Merit: 1074

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. Wink

Do the math, and see where this is going. Grin

Topic: To those who says Bitcoin is too expensive for a virtual item - page 3. (Read 2802 times)