Famous Bitcoin Transactions – The Stories Behind Them – Blockchain Blog

Famous Bitcoin Transactions & The Stories Behind Them

Bitcoin has now been used by uncountable individuals to transact for over seven years. At the time of this writing there have been over 140,000,000 transactions sent and stored forever in the blockchain.

January two thousand nine was when the very very first block was added to the blockchain, which is affectionately dubbed the Genesis Block, and the rest as they say, is now history.

The history of bitcoin includes some amazing stories, some so interesting they are worth retelling to keep the story alive. This post serves to preserve a few memorable chunks of that history.

The Transactions

It happened at block height 170, the very very first bitcoin transaction ever. This transaction was inbetween the late Hal Finney and Satoshi Nakamoto. Finney was a computer scientist, inventor of reusable-proof-of-work (RPOW), a bitcoin pioneer, and also the very first recipient of bitcoin via this transaction.

Laszlo’s two pizzas he paid Ten,000 BTC for on May 22, two thousand ten – via TechCrunch

In retrospect, this was fairly a monumental transaction, and it also resulted in the most expensive pizzas ever. A user of the BitcoinTalk forum desired to order two pizzas and was asking if anyone could order it to be delivered to him in exchange for Ten,000 bitcoins. The value at the time of the transaction was around $25 USD. Today, that amount in bitcoin is worth over $6.Three million. Every year since that transaction, the bitcoin community remembers this event by celebrating Bitcoin Pizza Day on May 22nd.

When bitcoin exchange Mt.Gox was fighting to stay afloat prior to their infamous collapse, then CEO Mark Karpeles wished to prove that Mt.Gox was financially sound. To do so, he performed one of the fattest and most risky bitcoin transactions ever. The transaction was from Mt.Gox to Mt.Gox, but regardless it was sent over the bitcoin network to the tune of 442,000 bitcoins. The value now is in the neighborhood of $282.Two million USD.

In the fall of 2013, a 194,993 bitcoin transaction hit the network, which caused many to wonder who was behind this very large transaction. The value at the time of the transaction in USD was over $149 million. CoinDesk wrote “unsurprisingly, a transaction of that size has prompted the bitcoin community to do some analysis and detective work. The transaction involved a large number of sending addresses, with some of them from blocks mined in February two thousand ten or even earlier, prompting excited speculation they might be from Satoshi Nakamoto, bitcoin’s absent (and likely pseudonymous) founder.”

According to a news report about Lamborghini Newport Beach car dealership in California, they sold a Tesla Model S electrical car for 91.Four bitcoins, or $103,000 at the time of purchase. The transaction was treated by payment processor BitPay, said Cedric Davy, marketing director for the Costa Mesa, California based dealership. The dealership has never accepted bitcoin directly, but BitPay’s merchant processing service permitted the buyer to use bitcoin as a form of payment, which was converted into USD once the transaction was accomplish.

Screen capture via Bloomberg.com

Bloomberg TV anchor Matt Miller was doing a segment on his “12 Days of Bitcoin” when he flashed his bitcoin paper wallet on TV. Little did he realize that he just demonstrated the corresponding QR code on the paper wallet for his private bitcoin address (not the public address!). Someone viewing the demonstrate quickly scanned the code and instantly was $20 richer. Fortunately, Miller let the viewer keep the funds, and he and everyone else learned a valuable lesson that day.

In January 2014, private jet booking service privatefly.com began to accept bitcoin as a payment method. A month later the booking service announced that it had its very first celebrity bitcoin passenger when it finished a flight from Brussels to Nice. The flight was charted by tech entrepreneur, Bitcoin Foundation lifetime member, and bitcoin millionaire Olivier Janssens. While neither Janssens nor PrivateFly commented on the size of the transaction, CoinDesk said similar flights suggested on the company’s website suggest that the total cost could have ranged from 9.Five bitcoin to 54.95 bitcoin, depending on the size of the plane Janssens flew in.

When the online black market Silk Road was shut down, the U.S. government seized harshly 144,000 bitcoins. In what was a three-part auction, the very first auction of coins was sold to venture capitalist and entrepreneur Tim Draper which was for 30,000 bitcoins, worth $Nineteen million USD at the time.

Have your own bitcoin transaction story to tell that you think is worthy of bitcoin history? Let us know in the comments below!

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