Post
Topic
Board Speculation
Re: Buy BTC sold for 16 BTC-1 mil USD
by
Dump3er
on 10/05/2024, 14:59:15 UTC
-

This is an interesting discussion to have, but I doubt there are any reliable frameworks to come up with a "true and fair" value. At the end of the day, it only needs one freakish investor down the line who wants that piece of paper from you and is willing to pay 3 times the price. I am sure that most of us here have been shocked at times reading how much people are willing to pay for the weirdest items. One example: First-generation iPhone sells at auction for $190,373, or nearly 380 times its original price

If I had ever thought that this would one day be possible, I'd have stocked up on those iPhones. I believe this things like the paper you mentioned can indeed have value. But how much? I stopped being shocked about collectible items or historical papers and how much they can make you in an auction. To anticipate values is so difficult because as a response some people will collect some electronics out of principle just to realize that those items will never be as valuable as this aforementioned iPhone generation.

I think it could be dependent on the narrative that you yourself could put out in public. If there was an auction of a pokemon card, isn't there huge incentive for the pokemon inventor (company or whoever) to go there and pay an absurd price? Stuff is all over the place in the media and people start buying these cards hoping they get lucky or something.

I had still been giving a lot of thoughts to this topic and I still feel that this wasn't a coincident or just some show off of wealth, I think he was trying to pass a message of BITCOIN IS THE BEST or get normal folks to see some kind of reason to get bitcoin, note he didn't pay in fait, I still believe that bitcoin is a better kind of money than fait and any wealth folk would already know that it's better to pay in fait than in bitcoin, ikay yeah if he didn't have any money around, its woudl be so easy for him to write a check or maybe a loan from the bank and that would be so easy for him, but rather he chose to pay in bitcoin, and what woudl do you think of that?, to me a it's a word of advice, if you want to get rich, BUY BITCOIN.

Well, in this case you could also argue the other way around and ask "why did he choose to give away some of his precious Bitcoin and didn't instead use fiat to show that people should get rid of their fiat and rather buy anything related to Bitcoin?"

Either way, El duderino_ was more referring to the question how to determine whether a certain value, a price paid for a collectible of that sort. I think it's dangerous to go for something because someone else did in a very unique case as you don't know who the person is. Someone could have bought a rare version of a paper or magazine he already owned and has some more lying around. Or whether it is someone who absolutely doesn't care what a piece costs when they want it. That skewes price efficiency for the average guy.