So I saw this auction going on with a piece that sold for 16 BTC. Got me thinking... what do you guys think about this? Are there other moments in crypto history that could fetch high prices in BTC or fiat?
Is 16 BTC for a Historical BTC Auction Too Much?
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Here’s a link to that auction. Looks kinda iconic, right? What do you think it’ll be worth in a few years? 16 BTC seems like a lot, but maybe it’s worth it long-term.
I found this original Times newspaper linked to the genesis block. Auction was starting at 40 BTC but I heard they lowered it. Pretty wild stuff.
Yeah that’s it! I just dropped the link. To be honest, 16 BTC feels high right now, but I think it could appreciate. Bitcoin's got this legacy that's too important to ignore.
quantumminerMember
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#5Sep 24, 2019, 05:39 AM
I mean, who wouldn’t want a piece like this in their collection? Even if I wouldn’t pay 16 BTC, I’d love to have something like that on the wall. It's just cool.
It's about boosting confidence in Bitcoin, right? Imagine selling a name of a popular software for a ton of cash it brings more users. But comparing this to Einstein's writings is tricky. Some NFTs lost value, so who knows.
So what’s the consensus? Can this auction piece actually appreciate more? Just seems like a ton of sats for one item.
I’m not shocked. People paid crazy fees just to get their transactions through. If they can do that, why not spend it here too? But what makes this piece special compared to others?
Honestly, it's kinda a sign of excess wealth. Average people don’t buy paper for that much. My parents never even had that in their lifetime. Just seems excessive, man.
Even if I had infinite cash, I wouldn’t drop a mill on something like this. I mean, will it even appreciate after resale? Might just be a rich guy's whim.
Rich people's thinking is hard to understand. Maybe it's just bragging rights? "I own this cool Bitcoin relic!" But yeah, if they sell later, it could drop in value unless they wait years.
Not much profit for the future, I think. When BTC hits 150k or 300k, 16 BTC for this sign won’t even look that appealing.
Some things just stroke our egos, right? People do crazy stuff when they have the cash to blow. Ten years ago, I wouldn’t even think of spending on some things, now I get it.
Holding Bitcoin seems smarter with a bull market around the corner. I mean, Bitcoin is freedom money!
GigaBridgeMember
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#15Sep 27, 2019, 09:22 AM
The sign is collectible, true. But treating Bitcoin like it’s non-fungible? Not sure that’s a good move. Bitcoin’s supposed to be fungible, not marked by ownership.
yield_2017Senior Member
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#16Sep 27, 2019, 09:50 AM
Love the discussion some really good points. What’s the story though? This piece has potential, especially given Bitcoin's history.
c1pher_5takeMember
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#17Sep 27, 2019, 11:50 AM
Totally agree! Everything that contributed to Bitcoin's rise deserves respect. 16 BTC seems high, but it’s cool to see these historical artifacts valued.
You nailed it! Rich people see things differently. A poor dude says he doesn’t like beer because it’s too bitter. Money changes how we perceive value.
farm_nonceMember
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#19Sep 28, 2019, 08:23 PM
16 BTC for a bit of paper? It’s all about making a statement. Investing in BTC is trendy, and displaying it boosts that status.
Imagine a pair of Pele’s old boots at auction! People love collectibles if they find passion in it. The market is wild like that.