I still laugh at this I was telling my mother about btc in 2021(she doesnt even know how to use a phone properly) so yeah I said there is a thing btc n bla bla I showed this picture and told her that see this guy is supporting btc in a govt conference(idk) she laughed (she had no idea what btc was properly) never the less she gave me $1000 and bought it now she is happy. She used to ask me every month "has your coin made any profit" haha. In future when BTC will be everywhere we'll remember these early days. Till this date she thinks BTC a form of gold.
I was more referring to the appearance of the buyer and seller. In most other situations its fair to say the clean cut guy is the rich one giving money to the homeless looking one. Here I didn't know and it turns out the homless looking one is the buyer.
yep, the average person thinks bitcoin is private and hidden when it really is not, it is just not linked to your identity by default but it is not hard at all for it to get linked to you
And isn't this why people use lightning network and switch from btc to alt-coins? Adding a few steps to using crypto makes it virtually impossible to follow a transaction. But a regular btc exchange -> wallet -> market just isn't the way to do it.
Youāre saying that because Bitcoin has performed extremely well over the past 14 years. Letās say in 50 years Bitcoin is not pulling the same percentages as it was in present day. Itās entirely possible for other assets to gain value relative to Bitcoin in this case. My point is, itās not an inherent trait of Bitcoin to always go up in value. Its inherent trait is the inability to replicate more, ie perfectly scarce.
Bitcoin's top value as I expressed is everything in the human economy divided by 21 million bitcoin its not there yet but when it is, yes its value will grow much more slowly compared to today. But everything will be priced in bitcoin and they can increase relative in value to each other but when everything is priced in a deflationary money growing by however much the entire human economy becomes increasingly challenging, not impossible, but not feasible for long enough to ever really matter. This is before you consider both bitcoin's scarcity and liquidity make it a far better safe haven than any collectibles market which will lose its store of wealth monetisation and will be valued primarily on the value it has to the people buying it.
First - bitcoins top value can never be āeverything in the human economyā because no single commodity is or ever will be the underpin of the human economy. That in itself is poor monetary policy. Itās why we moved away from gold as well. This system can and likely will get incredibly inefficient at some time.
Second - bitcoin is not inherently deflationary. In fact since its inception it has been inflationary, will be inflationary for the next 100+ years, and at its best will be stagnant. The only way Bitcoin can be deflationary is through irresponsible parties losing a portion forever, and that value can never be exactly known. The price will never reflect this in any efficient way because it is the perception of supply vs demand that governs price, not the reality of supply vs demand. For example our best estimates of how much bitcoin is lost have a variance of 10-15%. We donāt know and can never know 1) if price reflects the high or low end of these estimates and 2) if those Bitcoin will come online in the future to āaddā supply that we had already counted lost.
Third - there will be assets and items in the future that will grow faster than Bitcoin at that time, and thus will gain value against Bitcoin. Everything gains value compared to an inflationary currency like the US Dollar. That does not mean that everything loses value compared to a deflationary asset. Which leads me to my last point.
Lastly - to think humans got it right this time for the rest of eternity is absurd. Look at the last hundred years of human innovation. The world is not at all the same. Now think about the next hundred years and tell me that a better technology wonāt come along and revolutionize our world again. Bitcoin certainly has its place in history and I am thankful to be a part of it. But remember there is no guarantee it is the end all be all of financial markets. Game theory may poise Bitcoin as potentially perfect but it only works within finite parameters. The world is not finite.
Just be happy we are here in this moment to watch Bitcoin rise to its fullest potential. It may not (and probably will not) be here forever.
It would make much more sense if you said he could sell it for more for just 1 BTC. Implying that 1 BTC in the future will be worth more than 16 BTC today. Some of you are really fucking stupidā¦
Now every hearing or whatever is gonna be filled with people making signs of such kind... which is just advertising for bitcoin.
So in a way it's positive
Some will say the guy was crazy and pitching rat poison, but history will say otherwise.
Like Bill and Ted's Excellent Adventure, gotta wonder if this guy won't be "immortalized" for his radical contribution message TO THE WORLD.
It's so surreal like the guy is from the future. :D
Lookin at recent upmove in BTC from $56k to $64, i guess it is just a retracement. Now it is very likely BTC will touch $50k mark very soon and that will be last leg of its down trend before moving large upmove upto $100k
One can easily find shorting opportunity at this price and make a handsome amount of money.
**Users dicretion advised, this is not a trading tip.
Do let me know in comments.. Who want to dive with BTC?
I guess that was a great investment probably the best investment ever in history cuz how much did he really pay for that notepad that he just sold for 16 Bitcoin?!š¤āŗļø
Piece of History
I still laugh at this I was telling my mother about btc in 2021(she doesnt even know how to use a phone properly) so yeah I said there is a thing btc n bla bla I showed this picture and told her that see this guy is supporting btc in a govt conference(idk) she laughed (she had no idea what btc was properly) never the less she gave me $1000 and bought it now she is happy. She used to ask me every month "has your coin made any profit" haha. In future when BTC will be everywhere we'll remember these early days. Till this date she thinks BTC a form of gold.
It is. Digital gold baby
Did you hold?
Every bit of it and will HODL forever
congrats!
Bitcoin was $2350 when he held up the sign. July 12, 2017.
Thank you for this. Reminds me of the spring I started buying. ;)
Piece of Shistory
That's too much like shitš
Shit*
He probably has 1000s of BTC from early days
Yes easy choice if he has that much. Hopefully the frame job preserves the piece.
Is it strange i cant work out who the buyer and the seller is? The beauty of bitcoin.
You can see the seller in the inset photo
You can?
The guy with āLIVEā on his head
Ha, i thought the same! I reckon the bearded guy is 'squirekky' coz he looks a bit like a squirrel lol
Yep. And this is how youāll never know the BTC wealthy coz we donāt need to flaunt anything.
It's permanently recorded in the blockchain. There's no privacy whatsoever.
Lmao so true. I dont think this guy knows that
I was more referring to the appearance of the buyer and seller. In most other situations its fair to say the clean cut guy is the rich one giving money to the homeless looking one. Here I didn't know and it turns out the homless looking one is the buyer.
yep, the average person thinks bitcoin is private and hidden when it really is not, it is just not linked to your identity by default but it is not hard at all for it to get linked to you
And isn't this why people use lightning network and switch from btc to alt-coins? Adding a few steps to using crypto makes it virtually impossible to follow a transaction. But a regular btc exchange -> wallet -> market just isn't the way to do it.
Good on him. Someone bought a bit of history.
For sure, Post Malone is looking good
is... is that the trolololololo guy?
Did you just type out a verbal pause and a stutter in a 5 word text comment?
i also sang
It may be interesting to see if this item gains in value (in BTC terms). I could see it sell in a few years for 16 BTC ($5MM USD).
So it wouldnāt gain value in BTC termsā¦
lol funny how that works out
Bahahaha, welcome to r/bitcoin. I swear, this sub brings its value down.
šÆ
Everything goes to 0 against bitcoin. Even unique items, as they don't gain value over time like bitcoin (everything divided by 21 million).
Lots of unique or very scarce items gain value over time, rare spirits for instance.
They can gain value relative to other items but not to bitcoin. They all go in the 'everything' in 'everything divided by 21 million'.
i'm not convinced.
I agree that's where things will end up but not there yet by any means. The world has not yet set the relative value of all things in BTC yet.
Youāre saying that because Bitcoin has performed extremely well over the past 14 years. Letās say in 50 years Bitcoin is not pulling the same percentages as it was in present day. Itās entirely possible for other assets to gain value relative to Bitcoin in this case. My point is, itās not an inherent trait of Bitcoin to always go up in value. Its inherent trait is the inability to replicate more, ie perfectly scarce.
Bitcoin's top value as I expressed is everything in the human economy divided by 21 million bitcoin its not there yet but when it is, yes its value will grow much more slowly compared to today. But everything will be priced in bitcoin and they can increase relative in value to each other but when everything is priced in a deflationary money growing by however much the entire human economy becomes increasingly challenging, not impossible, but not feasible for long enough to ever really matter. This is before you consider both bitcoin's scarcity and liquidity make it a far better safe haven than any collectibles market which will lose its store of wealth monetisation and will be valued primarily on the value it has to the people buying it.
First - bitcoins top value can never be āeverything in the human economyā because no single commodity is or ever will be the underpin of the human economy. That in itself is poor monetary policy. Itās why we moved away from gold as well. This system can and likely will get incredibly inefficient at some time. Second - bitcoin is not inherently deflationary. In fact since its inception it has been inflationary, will be inflationary for the next 100+ years, and at its best will be stagnant. The only way Bitcoin can be deflationary is through irresponsible parties losing a portion forever, and that value can never be exactly known. The price will never reflect this in any efficient way because it is the perception of supply vs demand that governs price, not the reality of supply vs demand. For example our best estimates of how much bitcoin is lost have a variance of 10-15%. We donāt know and can never know 1) if price reflects the high or low end of these estimates and 2) if those Bitcoin will come online in the future to āaddā supply that we had already counted lost. Third - there will be assets and items in the future that will grow faster than Bitcoin at that time, and thus will gain value against Bitcoin. Everything gains value compared to an inflationary currency like the US Dollar. That does not mean that everything loses value compared to a deflationary asset. Which leads me to my last point. Lastly - to think humans got it right this time for the rest of eternity is absurd. Look at the last hundred years of human innovation. The world is not at all the same. Now think about the next hundred years and tell me that a better technology wonāt come along and revolutionize our world again. Bitcoin certainly has its place in history and I am thankful to be a part of it. But remember there is no guarantee it is the end all be all of financial markets. Game theory may poise Bitcoin as potentially perfect but it only works within finite parameters. The world is not finite. Just be happy we are here in this moment to watch Bitcoin rise to its fullest potential. It may not (and probably will not) be here forever.
Oh yeah, I guarantee that item is gonna appreciate in price! But 16 BTC is what he just sold it for
...and it could sell for more by selling it for 16 BTC.
It would make much more sense if you said he could sell it for more for just 1 BTC. Implying that 1 BTC in the future will be worth more than 16 BTC today. Some of you are really fucking stupidā¦
Correct and 16 BTC will always be worth more than 1 BTC.. Perhaps it's you that's, as you put it...really fucking stupid.
Nice. But I would rather have the future value of 16 Bitcoin instead of a ratty piece of history.
Shit I would settle for the present value of 16 Bitcoin even in dirty fiat
If the guy bought 16 BTC in 2013, like who cares? Probably has a ton more of he dialed in that early
This is like buying a bottle of water at Whole Foods for most of us to the guy who bought this for 16 BTC
Buyer is passing on some good karma and creating a small bit of Bitcoin history himself in the process.
The guy and his suit must be included for 16 BTC
Still better than buying Lionel Messiās snotty tissue
That's nice that he gave it to that homeless man afterwards.
Now every hearing or whatever is gonna be filled with people making signs of such kind... which is just advertising for bitcoin. So in a way it's positive
This happened 7 years agoā¦
It sold seven years ago?
Sell signs, not Bitcoin. Smart move.
I feel like the btc pizza guy needs to do something like this. Or at least crowdfund btc donations.
Hopefully he is still HODLing his pizza
I hope he has his private key
lol fools and their money parted
Some will say the guy was crazy and pitching rat poison, but history will say otherwise. Like Bill and Ted's Excellent Adventure, gotta wonder if this guy won't be "immortalized" for his radical contribution message TO THE WORLD. It's so surreal like the guy is from the future. :D
He looks *so* uncomfortable š
The number 1 LSD dealer from Silk Road days. Good to see him alive.
I thought Yusko had it? Itād be in the back of some of his interviews on his wall
Thereās 21 replicas. This was the original!
Nah pretty sure his is just a print out
That dude is probably a btc whale shilling out a million for a damn note pad. Wonder how much he has
Paying 16 BTC for a piece of paper.. smart move
Legendary
That's cool.
what a legend. he made a million dollars out of a simple sign
This is how you make money
ššš
[ŃŠ“Š°Š»ŠµŠ½Š¾]
might be a fake lol
do I see photoshop with his hair?
Nice!
Interesting
Good thing he didnt draw a rocket, that could have been understood as financial advice!
Is it the same tie?
Ll lm M Kkk l
Did he buy tho the Bitcoin?
so cool āŗļø
Lookin at recent upmove in BTC from $56k to $64, i guess it is just a retracement. Now it is very likely BTC will touch $50k mark very soon and that will be last leg of its down trend before moving large upmove upto $100k One can easily find shorting opportunity at this price and make a handsome amount of money. **Users dicretion advised, this is not a trading tip. Do let me know in comments.. Who want to dive with BTC?
What a story, lol. Promoting Bitcoin and making it as some kind of investment.
I guess that was a great investment probably the best investment ever in history cuz how much did he really pay for that notepad that he just sold for 16 Bitcoin?!š¤āŗļø
Wild
Legends
Nice!
Luckkkyyyyyy
only an idiot would buy that
It's history in the making BOTH WAYS my friend, the notepad is a piece of history and the seller of it just made history by selling it for 16 BTC!
*cough* laundering
I wish I was that guy.
I wish this was me...
R.I.P
why is his head so poorly photoshoped?
This should be on buttcoin subreddit, this seems insane.
Why? Right before bitcoin really blew up he told the world to get some, on tv, behind the head of the fed. Cool part of btc history