Happy Bitcoin Pizza Day! Before you dial for a Margherita to commemorate the world’s first real-world Bitcoin transaction, here’s a slice of trivia:
What do a family holiday to Japan, a 50 Cent album, a steak dinner, and a framed cat photo all have in common?
They were all paid for with Bitcoin (BTC) by members of the Cointelegraph Bitcoin community! And just like the Bitcoin pizzas that cost 10,000 BTC, which are now worth more than $300 million, the community’s Bitcoin purchases have also skyrocketed.
Benjamin de Waal, the VP of Engineering at Bitcoin exchange Swan Bitcoin told Cointelegraph, “I spent 7 BTC on a family trip to Japan a few years back.” In today’s value, 7 BTC is worth well over $200,000 — but Ben’s 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 scammer vigilante, told Cointelegraph how he once spent 50 BTC (worth $1.5 million) developing a new software module for his company in 2015. Crisan added that in 2016:
“Let's not forget some almost 1BTC 'spent' betting who the next US president's going to be.” [...] Of course, I didn't win.”
That’s a $30,000 bet at BTC's current market price.
Jeffrey Albus, Editor at Cointelegraph, shared that he splashed out on a steak dinner to demonstrate Bitcoin’s peer-to-peer capabilities "sometime in 2011 or early 2012."
"We paid 15 BTC — 12 for the meal, plus 3 BTC left as a tip (which the waitress probably threw away.)"
Worse still, the value of 15 BTC back over ten years ago was so small that it fell short of the total bill: Albus had to top it up with good old greenbacks. The value of the Bitcoiner-appropriate steak dinner is now worth shy of 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 back in the days, but that was the last thing” — a roughly $3,000 hoodie. He explained that “it then became too stupid of a thing to me to spend instead of stack sats.”
Meanwhile, the team at CoinCorner, the UK Bitcoin exchange behind the contactless Lightning Network payment card, shared a few stories. Danny Scott, the CEO, bought the 50 Cent album “Animal Ambition” with Bitcoin when the market price was around $600. 50 Cent famously “forgot” he accepted 700 BTC for the album — let’s hope Scott forgets the missed gains, too!
Molly Spiers, CoinCorner's Head of Marketing, told Cointelegraph, “I bought a photo postcard of my cats [...] for 0.009 BTC.” The $270 postcard was sadly not enough for Spiers to keep a hold of it; ‘I've lost them somewhere over the years - I'd have framed them with pride!”
While there are risks associated with crypto investing, some see it as a way to boost their family savings, a recent study commissioned by crypto trading platform BitMEX shows.
The survey, conducted by research firm Kantar, tried to discover crypto-related trends among consumers in 2022. Going through 3,000 respondents within 14 markets in Europe, Asia and Latin America, the study found that Europeans look at crypto as a method for investments and saving up for their families.
Fifty-five percent of the European participants declared that they currently hold cryptocurrency. Moreover, 70% of these respondents noted that crypto’s main function is to be used for their family’s needs. Additionally, the survey also found that 61% of the respondents see crypto as “a good way to diversify investments.”
Apart from these findings, the study mentioned that three out of five European respondents declared a 50% growth in their crypto investments. While the number isn’t as significant as winning the lottery, the survey notes that more than 80% of the transactions of the surveyed crypto owners are $1,000 and above.
BitMEX chief marketing officer (CMO) Michele Bertacco said that the survey's goal was to understand investors' behavior better. After seeing the results, Bertacco explained that "The mainstream appetite for crypto is growing at a very fast speed."
Earlier this week, a different survey showed that people who have not invested in crypto are worried about volatility, environmental impact and regulation. Apart from these, the study also noted “lack of understanding” as the most prominent wall that stops investors from getting into crypto.
Meanwhile, a more recent survey showed that 80% of participants are willing to work out more if they got cryptocurrency as an incentive. Additionally, respondents also said that they are likely to cancel their gym membership in exchange for one based in the Metaverse.
Twelve years ago today, on May 22, 2010, programmer and early Bitcoin (BTC) miner Laszlo Hanyecz made history when he traded 10,000 BTC for two large pizzas. It was the first real-world cryptocurrency transaction, and media attention from the act legitimized Bitcoin in a big way.
Inspired by that delicious turning point in decentralized finance, the Cointelegraph Store has created a fresh new line of merchandise. And you won't even have to tip your driver when it arrives.
Bitcoin Pizza apron
The Bitcoin Pizza Organic Cotton Apron will cook up a slice of fashion for the crypto chef in your life. Shield yourself against food mishaps, heat and more kitchen conundrums with this 100% organic cotton apron, complete with adjustable straps and a large front pocket with two compartments.
The Cointelegraph unisize apron is available in three different colors navy, black and rope
Bitcoin Pizza apparel
Whether you need to stay warm or keep it cool, the Cointelegraph Store has you covered. Choose between the brightly colored, unisex Bitcoin Pizza Tee, Bitcoin Pizza Tank Top or Bitcoin Pizza Hoodie. If pizza is just as great hot as it is cold, there’s no reason you can’t be too.
The Cointelegraph hoodies are available in Irish green and indigo blue options, tailored for all sizes.
Bitcoin Pizza accessories
Sometimes you just need some fun crypto flavor in your life. So, cozy up with the premium, linen-feel Bitcoin Pizza Pillow. Carryout is a breeze with the vibrant print of the Bitcoin Pizza Tote Bag. And never be without a beverage for your food with the Bitcoin Pizza Mug, which features a joyful pop of color on a classic ceramic coffee mug.
Celebrate Bitcoin Pizza Day with the Bitcoin Pizza merch collection. Pick up some of this exclusive swag for you or anyone you know who might need a hot, fresh new look. The Cointelegraph Store is ready to take your order.
This Daily Dose was brought to you by Cointelegraph.