Monumental Bitcoin Transactions
May 22nd , 2017 marked the 7th anniversary of the monumental bitcoins transactions era starting with “The Pizza Day”.
Probably the most expensive couple of pizzas ever to be recorded in global history. Lazlo Hanyecs spent 10,000 Bitcoins for a couple of pizzas at Papa John’s. Those pizzas today worth have been worth 25 Million dollars and the cost is still rising.
In retrospect, this is not just about the value of the pizzas, but the transaction itself marked the beginning of monumental bitcoin transactions.
So for those yet to be converted to the value of Bitcoin, we are going to look into some of the most monumental Bitcoin transactions recorded in the past 7 years.
The number of daily transactions via Bitcoin has risen from under 6000 in 2012 all the way to 350,000 daily transactions today. And judging by the trend, we could be looking at an exponential growth in the coming years.
Most Monumental Bitcoin Transactions Recorded
Naturally, we already mentioned of the monumental bitcoin transactions to be ever recorded in the history of the cryptocurrencies. It is important not just in terms of value, but the fact that Lazlo Hanyecs wanted to prove that Bitcoin could be transacted as a value for goods. And manage he did! A most definite first in monumental Bitcoin transactions!
However, since then, there have been quite a few whopping transactions. These are noteworthy either because of the nature of the transaction or the value of the transaction.
Notorious or legit – here are some of the monumental Bitcoin transactions to be recorded in the past 7 years.
This is history writing itself and who knows what we could add in the coming years.
Bitcoin for Iconic Cars
It seems like poetic justice that one of the most iconic in futuristic cars should be paid with a futuristic cryptocurrency! The Tesla Model S was purchased in December 2013 for the equivalent of $103,000 in Bitcoin. The payment was processed by BitBay. The payment was later converted to United States Dollar when the deal was complete.
Because of the beauty of Bitcoin, the owner who is allegedly a Florida-based Tesla lover remains anonymous. He paid 91 Bitcoin for this transaction. Although no one knows for sure who he is, some are definitely privy to the information through the registration of the car license!
Even since, there are plenty of car lovers who have posted photos of themselves posing with flash cars and professing using bitcoin for their monumental transactions.
Real Estate Purchases
In February 2014, Gregory Simon is recorded to have struck the first real estate deal to be recorded in Bitcoin history. Simon closed the purchase on a plot of land in Nicaragua, specifically in San Juan del Sur.
The land which is situated close to Paradise Beach in Nicaragua was paid for in Bitcoin for the equivalent of $65,000. The value of Bitcoin in 2014 averaged $400. Gregory Simon would today be sitting on the land the equivalent of $400k. One wonders whether the value of the land has risen to the same performance.
Gregory Simon may have been the first deal maker in this remarkable and monumental Bitcoin transaction, however, since then Bitcoin has been accepted or even offered in many kinds of real estate transactions. This includes a half a million dollars worth of Bitcoin for a Villa property in Bali Indonesia in 2014.
If that is not enough, today you can find notable real estate firms offering properties that can be purchased with Bitcoin.
Image courtesy of I.B. Times. Co. UK
Bitcoin and Aviation
Bitcoin is known to be flying, however, it has also been the source or medium of payment for plane charters. It appears that the rich and the famous are not the only people to grace this planet in chartering private planes.
Bitcoin millionaires are known to have a panache for chartering planes with monumental bitcoin transactions.
Privatefly.com allowed a private charter from Brussels to Nice at the forbidden cost of 54.95 BTC in 2014. The plane was chartered by Oliver Janssens. Janssens a tech millionaire never left a comment about his monumental Bitcoin transactions but did mark aviation history.
This is by far a historical rendering, because since then surely many more similar transactions have passed via Bitcoin. The point remains, that this is a first recorded fact.
For Bitcoin skeptics, Bitcoin remains the shady medium of payment. Bitcoin generally, guards the identity of its holders, allowing them a safe passage to notoriety.
This may have been so in the past, however on July 1, 2014, the U.S Marshal seized no less than 144,000 Bitcoin and auctioned them off!
The Bitcoin black market and Silk Road drug money were efficiently exposed by the FBI . Ross Ulbricht – the mastermind in the dark alleys of Silk Road, was given a lifetime sentence in 2015.
This marked the first auction by public authorities of the cryptocurrency. The first 30,000 Bitcoin in this three-tiered auction were purchased by Tim Draper for $19 million at the time.
Since then FBI and Interpol have publicly explained that chasing down crypto criminals is following the same route of criminal cash transactions.
Recent News that Can See Monumental Bitcoin Transactions
June 2, 2017, has seen another rally in Bitcoin prices. Chinese Exchanges have once again opened their doors to Bitcoin withdrawals again. After a trimester hiatus freeze for more transparency and inspections, the ice has melted.
The ban has been lifted as the People’s Bank of China has carried out the necessary inspections on local Bitcoin exchanges. The lift has been proverbial on price movement. We will not be surprised if China will soon record a new record on monumental Bitcoin transactions.
However, it is early days, and we need to take “baby –steps”. Even if it means that the threshold imposed is for 50 bitcoin transactions per day. At the going rate, we are looking at $125,000 at the starting point. Hardly toddler steps in terms of daily value!
Regulatory frameworks are being structured everywhere in the world including in the little Island of the Mediterranean – Malta.
What the future holds for Bitcoin, could be very exciting but as yet veiled with many mysteries.
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