A tribute to the weird and wonderful purchases of BTC

Happy Bitcoin Pizza Day! Before you compose a margherita to commemorate the first bitcoin transaction in the real world, here’s a little bit of trivia:

What do a family vacation in Japan, a 50 cent album, a steak dinner and a framed cat picture have in common?

They were all paid in Bitcoin (BTC) by members of the Cointelegraph Bitcoin community! And just like the bitcoin pizzas that used to cost 10,000 BTC and are now worth over $300 million, the community’s bitcoin purchases have also exploded.

Benjamin de Waal, vice president of engineering at bitcoin exchange Swan Bitcoin, told Cointelegraph, “I exhausted 7 BTC on a family trip to Japan a few years ago. In today’s value, 7 BTC is worth well over $200,000, but Ben is happy because his kids are happy:

“It would have been worth a lot more now; but I don’t regret it at all. A good childhood full of adventure, fun and learning is priceless.

Felix Crisan, the vigilante scammer, told Cointelegraph how he once spent 50 BTC (worth $1.5 million) in 2015 to develop a new software module for his company. Crisan added this in 2016:

“Let’s not forget the almost 1 BTC ‘spent’ bets on who will be the next US President.” […] Of course I didn’t win.

This is a $30,000 bet at the current market price of BTC.

Cointelegraph Editor Jeffrey Albus said he ate a steak “in 2011 or early 2012” to demonstrate Bitcoin’s peer-to-peer capabilities.

“We paid 15 BTC – 12 for the meal, plus 3 BTC left as a tip (which the waitress probably threw away.)”

Worse, the value of 15 BTC was so low more than ten years ago that it accounted for less than the total bill: Albus had to top it up with good old greenbacks. The Bitcoiner-friendly steak dinner is now worth less than half a million dollars.

In a word to the wise, Julien Liniger, CEO of Swiss bitcoin exchange Relai — and a bitcoin maximalist through and through, told Cointelegraph that he “bought a bitcoin hoodie for 0.1 BTC at the time, but that was it Last” – a hoodie for around $3,000. He explained, “Then I got too stupid to spend it instead of stacking it.”

Meanwhile, the team at CoinCorner, the UK bitcoin exchange behind the Lightning Network contactless payment card, has shared a few stories. CEO Danny Scott bought 50 Cent’s Animal Ambition album with bitcoin when the market price was around $600. 50 Cent “forgot” that he accepted 700 BTC for the album – hopefully Scott will forget about the lost revenue too!

Molly Spiers, CoinCorner’s director of marketing, told Cointelegraph, “I bought a photo postcard of my cats […] for 0.009 BTC. Unfortunately, the $270 postcard wasn’t enough for Spiers to keep; “I’ve lost them somewhere over the years – I would have framed them with pride!”

Luckily there are “no regrets” because it “makes a good story”. She also shared a photo of the cats:

Molly Spier’s cats. Unfortunately, the photo postcard has been lost. Source: Molly Spiers

While “experimenting with Bitcoin as a currency,” CoinCorner software developer Matthew Ward told Cointelegraph that he “purchased the game Cities Skylines when it launched on Steam in March 2015 for 0.108 BTC.” You can judge for yourself whether the graphics deserve a $3,000 price tag:

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City Skylines game. Source: themacgames.net

Finally, Didi Taihuttu, known as the father of the bitcoin family and sometimes the bitcoin tattoo artist, spent 2.75 BTC on a bitcoin miner in 2014. $, I gave up BTC mining and started mining Dogecoin (DOGE). If he held the BTC, he would have over $180,000.

Related: Try to top this: PizzaDAO is celebrating Bitcoin Pizza Day with 100 parties worldwide

Taihuttu also shared that he parted with over 9 BTC ($270,000) during his adventures as The Bitcoin Family, which he describes as “losing 9 BTC but gaining an incredible adventure.”

And for those wondering what happened to the 10,000 BTC Hanyecz spent on the pizzas, according to Cointelegraph research, 5% of the total ended up in a very wealthy wallet, while “some of the funds appear to have been liquidated” in one failed crypto exchange.

The wealthy wallet, which swallowed some of Hanyecz’s BTC, ranks among the 15 richest bitcoin wallets and has accumulated over 53,000 BTC. The total amount spent or sent from the wallet is 0 BTC: a certified bitcoin hodler.


#tribute #weird #wonderful #purchases #BTC

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