When it comes to demonstrating the strength of bitcoin as an investment, you don’t have to look far to find folks obsessing about pizza. The fabled million dollar pie is trotted out every time someone asks why BTC makes sense as a store of value. While the historical importance of those pizzas in the history of bitcoin can’t be understated, the constant comparisons get tiresome after a while.
Big Money Pizza Is Old News
What’s more, the numbers are getting so large now that the amount of appreciation seems totally unreal. It’s hard to wrap your mind around someone paying $100 million USD for two pizzas, and I think that makes the example less convincing than most hardline BTC evangelists think it is.
Seems to me, anyone that’s been in the space shouldn’t have too much trouble coming up with a more compelling example, but it’s more complicated than it looks like at first.
I’ve known potheads that would be multi-millionaires now if they quit smoking and held their BTC, and people living out of their cars because they bought a new PC instead of holding onto what they mined back in 2010.
Problem is, most of examples don’t really have mainstream appeal, and everyone’s had a “pizza moment” at one time or another. It’s almost a rite of passage in BTC. What we really need is a comparison that shows growth in material terms instead of numbers getting larger, saying BTC outperformed X commodity by Y percent.
BTC Gaming the System
That in mind, I think games are as good a proxy as any. We have an easy dollar amount to equate them to ($60) and most technical people have at least some interest in both. We also have easy access to data on the games industry.
Using data from the Steam API, and other sources, we can make several fun comparisons. Here’s a few assuming games appreciated like bitcoin has:
- A copy of Dark Souls would be every game on Steam today;
- EA could have given someone one copy of every game in their catalog in 2011, and that person would have another EA to run;
- A year’s subscription to World of Warcraft would last literally forever;
- Arcade machines would still pay for themselves in a few months;
- Red Dead Redemption would be every game ever made, plus DLC and expansions, for every console and platform ever; made. (With change left over to buy every console, and every peripheral and also a few Lamborghinis).
Amusing as these are, I think they may go further with people who are sick of hearing about the Silk Road and expensive pizzas.
How does the bitcoin price compare to your purchases over the past five years? Please share your thoughts in the comments.
images courtesy From Software, Bitcoin wiki
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