Just a random thought post. It’s interesting to talk to other investors and hear them talk about what is “expensive.” With bitcoin especially, people often say “well, isn’t $20,000 expensive?” or “WHAT! it’s too expensive!” I’d argue expensive is relative.
I spent Thanksgiving looking through my Star Wars cards that I collected when i was a kid. Who would have thought they would hold any value?...well not all of them...just one or two but that is all it takes.
BTC (and NFTs) replaces that need to have physical things (evolution occuring), but one can still own something unique, rare, desirable, tradeable, experiential, and personal....and it is a hell of a lot easier to move and store all those digital assets.
Yes. Another way to frame this is that collectibles are being bid up as stores of value. People pay record prices for vintage cars, watches, baseball cards and Bitcoin because they believe these objects will hold their value better than fiat currency.
But collectibles require collectors. Bitcoin is neither unique (all Bitcoin or essentially identical) nor something you can put in a display case or museum. Which makes them more pure speculation.
it's truly amazing. apparently the parquet floor from the Arena where Jordan played the '96 championship series just sold for $1M. literally ppl just wanna throw cash at things.
https://www.businessinsider.com/steve-cohen-collectors-universe-collectables-dan-sundehim-nat-turner-2020-12
clever. i am still kicking myself for not investing in Rally!
I spent Thanksgiving looking through my Star Wars cards that I collected when i was a kid. Who would have thought they would hold any value?...well not all of them...just one or two but that is all it takes.
BTC (and NFTs) replaces that need to have physical things (evolution occuring), but one can still own something unique, rare, desirable, tradeable, experiential, and personal....and it is a hell of a lot easier to move and store all those digital assets.
Great post dear
Thanks Mom. Pizza for dinner since I was a good kiddo today?
Great analogy! It will shut down a lot of, "It's too expensive" conversations
Yes. Another way to frame this is that collectibles are being bid up as stores of value. People pay record prices for vintage cars, watches, baseball cards and Bitcoin because they believe these objects will hold their value better than fiat currency.
absolutely!
But collectibles require collectors. Bitcoin is neither unique (all Bitcoin or essentially identical) nor something you can put in a display case or museum. Which makes them more pure speculation.
Check these "physical NFT" prices... mother of all scarcity https://www.classic-car-auctions.info/record-prices-expensive-car-marques-public-auctions/
it's truly amazing. apparently the parquet floor from the Arena where Jordan played the '96 championship series just sold for $1M. literally ppl just wanna throw cash at things.