Post
Topic
Board Bitcoin Discussion
Re: Can you answer a couple of questions to a potential bitcoin buyer?
by
Antithesis
on 01/02/2022, 15:31:46 UTC
And now the questions: if I can purchase a picture of a sunset for a couple of bucks on Shutterstock and watch something aesthetically rich, why on Earth would I purchase a number "1" for $37,000 and watch something aesthetically poor?
That what you're talking about is not utilizing but trading. Everything can be traded. The question is why would one pay an enormous amount of money for a single unit of a product that has an extremely low utilization capacity?
Ah, the classic unit bias problem that has been talked about thousands of times now. This is why I'm an advocate for using lower denominations like sats — to get the newbs away from the likes of XRP and get in on bitcoin.

It's like saying: "why buy a 1kg gold bar if it's only 1 gold bar?"

Why would I pay so much money for a single unit of a product that in comparation to gold, a sunset picture, wheat or crude oil has so low utilization capacity?
Because gold is a boomer asset and has performed bad throughout the years, a sunset picture is highly illiquid, crude oil has a very unknown supply inflation(like gold), etc etc. But hey, if you want to invest in these stuff, then go for it!

"If you don't believe it or don't get it, I don't have the time to try to convince you, sorry." - Someone someone.
You are now just making describing things. I know what gold, a picture
or crude oil is. What I am asking is this. One ounce of gold, in jewelry for e.g. or watching a sunset picture, has much higher utility value than watching number "1" on the screen of a mobile phone. Because that's all the utility you get after purchasing bitcoin - you are able to watch a number on the screen Yet, one has to pay $37,000 to for this. And only $1,800 or a couple of bucks for the former.

So, why would I pay an enormous amount of money only to get the ability to watch number "1" on the screen?