{"id":339661,"date":"2022-05-22T22:54:28","date_gmt":"2022-05-22T17:24:28","guid":{"rendered":"https:\/\/www.www.bullfrag.com\/a-tribute-to-the-weird-and-wonderful-purchases-of-btc\/"},"modified":"2022-05-22T22:54:28","modified_gmt":"2022-05-22T17:24:28","slug":"a-tribute-to-the-weird-and-wonderful-purchases-of-btc","status":"publish","type":"post","link":"https:\/\/www.bullfrag.com\/a-tribute-to-the-weird-and-wonderful-purchases-of-btc\/","title":{"rendered":"a tribute to the weird and wonderful purchases of BTC"},"content":{"rendered":"
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Happy Bitcoin Pizza Day! Before you order a Margherita to commemorate the first real-world Bitcoin transaction, here’s a bit of trivia:<\/strong><\/p>\n

What do a family vacation in Japan, a 50 Cent album, a steak dinner, and a framed photo of a cat have in common? <\/p>\n

They were all paid with Bitcoin (BTC) by members of the Cointelegraph’s Bitcoin community.<\/strong> And the same what the pizzas paid for with Bitcoin that cost 10,000 BTC,<\/strong> Now worth more than $300 million, the community’s Bitcoin purchases have also skyrocketed.<\/p>\n

Benjamin de Waal, the vice president of engineering for Bitcoin exchanges Swan Bitcoin, told Cointelegraph: “I spent<\/a> 7 BTC on a family trip to Japan a few years ago.” At today’s value, 7 BTC is worth well over $200,000 – but Ben is happy because his kids are happy:<\/strong><\/p>\n

“Now it would have been worth much more, but I don’t regret it at all. A good childhood full of adventures, fun and learning is priceless.”<\/p><\/blockquote>\n

Felix Chrisan,<\/strong> scammer watchdog, told Cointelegraph how he once spent 50 BTC (worth $1.5 million) <\/strong>in the development of a new software module for his company in 2015. Crisan added that in 2016:<\/p>\n

“Let’s not forget about 1BTC ‘spent’ betting on who is going to be the next US president.” […] Of course I didn’t win.”<\/p><\/blockquote>\n

That’s a bet of $30,000 at the current market price of BTC.<\/p>\n

JeffreyAlbus, <\/strong>editor of Cointelegraph, shared that he splurged on a steak dinner to demonstrate Bitcoin’s peer-to-peer capabilities “sometime in 2011 or early 2012.” <\/p>\n

“We paid 15 BTC – 12 for the food, plus 3 BTC left over as a tip (which the waitress probably threw away).”<\/p><\/blockquote>\n

Worse yet, the value of the 15 BTC from over ten years ago was so small that it fell short of the total account: Albus had to fill it out with the old greenbacks. The value of the proper steak dinner for Bitcoiners is now under half a million dollars.<\/strong><\/p>\n

Julien Liniger, CEO of Swiss exchange Relai, and a Bitcoin maximalist through and through, told Cointelegraph that \u201cbought a bitcoin hoodie for 0.1 BTC years ago, but that was the last of it\u201d, <\/strong>a sweatshirt of about USD 3,000. He explained that “then it became too stupid for me to spend it instead of stacking saturations.”<\/strong><\/p>\n

Meanwhile, the team at CoinCorner, the UK Bitcoin exchange behind the lightning network contactless payment card, <\/strong>shared some stories. Danny Scott, <\/strong>the CEO, bought 50 Cent’s album “Animal Ambitions”<\/strong> with Bitcoin when the market price was around $600. 50 Cent “forgot” that he accepted 700 BTC for the album – let’s hope Scott forgets the lost earnings too!<\/strong><\/p>\n

Molly Spiers,<\/strong> head of marketing for CoinCorner, told Cointelegraph: \u201cI bought a postcard of my cats […] for 0.009 BTC.\u201d Unfortunately, the $270 postcard wasn’t enough for Spiers to keep: “I’ve lost them somewhere over the years, I would have proudly framed them!”<\/strong><\/p>\n

Fortunately, “he doesn’t regret it”, because “it makes for a good story”.<\/strong> In addition, he shared a photo of the cats:<\/p>\n

Molly Spier’s cats. The postcard in the photo is sadly lost. Source: Molly Spiers<\/em><\/figcaption><\/figure>\n

While \u201cexperimenting with Bitcoin as a currency,\u201d CoinCorner software developer Matthew Ward told Cointelegraph that “purchased the Cities Skylines game when it launched on Steam in March 2015 for 0.108 BTC.”<\/strong> You can judge if the graphics are worth a $3,000 price tag:<\/p>\n

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The gameplay of Cities Skylines. Source: themacgames.net<\/em><\/figcaption><\/figure>\n

Lastly, Didi Taihuttu, known as the father of the Bitcoin Family and sometimes the guy with the Bitcoin tattoos, spent 2.75 BTC on a Bitcoin miner in 2014. <\/strong>Taihuttu told Cointelegraph that \u201cthe weirdest part is that when BTC hit about $200, I stopped mining BTC and started mining Dogecoin (DOGE).\u201d If he had held BTC, he would have over $180,000.<\/p>\n

Taihuttu also shared that during his adventures like The Bitcoin Family, <\/strong>has shed more than 9 BTC ($270,000),<\/strong> what he describes as “lose 9 BTC but win amazing adventure.”<\/strong><\/p>\n

And for those wondering what happened to the 10,000 BTC Hanyecz spent on the pizzas, <\/strong>according to Cointelegraph research, 5% of the total landed in a very rich wallet, while \u201csome of the funds were apparently liquidated\u201d on a failed cryptocurrency exchange.<\/p>\n

The rich wallet that was received with some of Hanyecz’s BTC is among the 15 richest Bitcoin wallets, amassing over 53,000 BTC.<\/strong> The total spent or sent from the wallet is 0 BTC – a certified Bitcoin hodler.<\/p>\n

Clarification:<\/span> The information and\/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.<\/span><\/p>\n

Keep reading:<\/strong><\/span><\/p>\n<\/div>\n

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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.<\/p>\n<\/div>\n