6 Bitcoin Stories You Probably Haven’t Heard

By | January 22, 2018

6 Bitcoin Stories You Probably Haven’t Heard

 

Price of Bitcoin at time of press is $11,580 USD. I will use this figure to compare values for this article.

Do you know how much your $1000 would be worth now if you invested in 2017? Find out here and another article here.

 

 

One of the First Bitcoin Giveaways

One of the earliest Bitcoin giveaways that I could find was given out by a blogger called Xifin. This was on a WordPress domain blog where the title read “Whore yourself for five hundredths of a Bitcoin.” At the time this was valued at $0.88 giveaway (not much of a giveaway if you ask me). Now this total Bitcoin value is worth $579. Not bad for writing a simple comment.

If we take a look at the address that was given in the comment section of the original post, then you can see that person did receive their 0.05 BTC.
Check their wallet here.

 

 

Paid 32 Bitcoins to Hold a Sign

In this post by Bitcoin Blogger, we can see that the owner of the site paid someone 32 Bitcoins to stand in the rain, in a crazy outfit with a sign that read “Stop the Fed. Use Bitcoins!!!”. At this time I guess the guy thought why the hell not. 32 Bitcoins was worth roughly $11.20 at that time (January 2011) and was only out there for 15 minutes. That works out to be $44.80 per hour for holding up a sign. That is pretty good.

If he kept his Bitcoins, which he didn’t, then this would have scaled to a lot of money, specifically, $370,560 for working for 15 minutes or $1,482,240 and hour… I would hold up a sign and wear a silly hat for that… no doubt!

 

 

10 BTC Logo Competition

In May 2011 there was a competition for an updated logo on the /r/Bitcoin subreddit. This was for a total of 10 BTC competition where the people who donated the Bitcoin could vote on which design they liked. At this point in time one BTC was worth about $6.26 USD so making the total competition worth $62.60 which is pretty decent for a small logo. You can see the original post here.

By the looks of the actual Bitcoin subreddit in the Wayback Machine, looks like StiveGonzales was the winner. It appears as if his Reddit username has been deleted since then, but I did manage to find his Bitcoin address that he won with. But as the same with the other, there are no Bitcoins left on the address.

Entry 1
Entry 2
Entry 3 (winner)

 

A Silk Road Tutorial

A Reddit user by the name of “silkroadmagic” wrote a blog post on how to use the site Silk Road. If you’ve heard of Silk Road, you’ve heard of Bitcoin, but if you’ve heard of Bitcoin you may have not heard about Silk Road.

Silk Road was an online marketplace much like eBay but for illegal drugs basically (more or less in a nutshell). Without going into too much info, it was a revolution of getting drugs anywhere from anywhere to your front door without having to leave the comfort of your computer. A great idea but eventually Ross William Ulbricht was caught and put in jail for his mastermind of the scheme. Highly recommend watching a documentary on it, very interesting stuff.

Anyway, here is the blog post on Silk Road.

He later did an AMA on reddit about how it all goes.

 

Selling a Motorbike

In April 2013 a reddit poster was selling his Motorbike/Scooter for 17 Bitcoins and advertising on Reddit. Not sure if he ever sold the scooter but admire the guts to try to sell it for a digital currency rather than FIAT. At this point in time a Bitcoin was worth roughly $118.00. He was selling his bike for 17 Bitcoins, making the final price around $2000 USD. Now if someone kept onto those Bitcoins that bike is worth a pretty penny, $196,860 to be exact. That is one expensive scooter!

 

Nakowa Loses A Bucketload

Not really how else to describe this without using profanities. I’m sure this person did as well. So Nakowa was on a website called Just Dice which is a Bitcoin Casino, where he lost a whopping 2300 BTC. At the time this was big news because that was around $323.00 per Bitcoin. This means he lost $742,900 at that point in time, which is still a ridiculous amount of money to lose in an online gambling site. This is now worth $26,634,000.. OUCH!

 

 

Do you have any interesting Bitcoin or Crypto stories?

6 thoughts on “6 Bitcoin Stories You Probably Haven’t Heard

  1. Team CF

    hahaha, nice stories mate! Getting in early is one thing, keeping steady and holding on is another thing! It’s a tough call to figure out when to sell when something crazy like this happens.

    Reply
  2. Frankie

    Interesting stories, but I’m still keeping my distance from the crypto-craze! It all looks so easy to ride the wave in hindsight….

    Reply
  3. Dividend--Portfolio

    It’s so hard to figure out if now is a good time to buy bitcoin and how high it can go. I am dollar cost averaging my way into bitcoin, but it’s at such a small amount of money that it might not be worth it. But, who knows?

    Reply
    1. Buy - Hold - Long Post author

      Only time will tell if it is a worthwhile investment. I am thinking long term it will be worth it but I cannot see the future! Good luck

      Reply

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