Erik Weijers, 14 days ago
We're not far from Bitcoin Pizza Day, on May 22. The day commemorates the first time BTC was used, in 2010, to buy products in the real world: two pizzas. But from a January 2010 thread on Bitcointalk, it appears that a user wanted to receive 500 BTC in exchange for a picture, predating the legendary pizzas.
In the very earlly days of Bitcoin, users mined it and sent each other BTC as a test or as fun. BTC had no dollar value in the first 12 months. Only when a BTC was worth a fraction of a cent, people started buying stuff with it.
It's no coincidence that self-proclaimed 'Taproot Wizard' Udi Wertheimer is pounding the table about his discovery that the first sale might have been a jpeg. After all, with their NFT minting frenzy he and a few others like Eric Wall and Nick Carter have provoked the 'laser-eyed maxi crowd' among Bitcoiners . These maximalists believe that Bitcoin shouldn't be used for anything other than money: meme coins and NFT's on the Bitcoin blockchain are obnoxious to them. So Udi and co. can't help rubbing it in that they use the holy Bitcoin blockchain to trade silly memes.
With this in mind it would be ironic indeed that the earliest BTC transaction made the exchange of an image possible. More specifically, an image of 1280x960, 'great for a desktop background'. Interestingly, the inventor of Bitcoin, Satoshi Nakamoto was at the time still active on bitcointalk.org and helped with the sale.
If 500 BTC sounds like a lot of money for a desktop background image, remember that it was worth only around 1 dollar in total...
Of course, selling an image for BTC isn't the same as minting an NFT on the Bitcoin blockchain. So when Udi writes: 'laser-eye cult in absolute shambles', this is tongue-in-cheek. Having said that, there are some real grievances between different Bitcoin camps about what Bitcoin should primarily be: a purely monetary chain or also a 'cultural layer' of information.
The only slight problem with this theory of the first ever jpg traded: only the anonymous user 'Sabunir' can tell if the 500 BTC he indeed received on his address was for the jpeg or as a donation - one of his other chats on bitcointalk mentions a donation too. So maybe the 500 BTC he indeed received were for the donation.
The number of Ordinals inscriptions on Bitcoin is still high. The majority of the inscriptions are BRC-20 type inscriptions. BRC-20 is a protocol for creating, minting and trading fungible tokens on Bitcoin. The enormous spike in fees has cooled off a bit though.
May 22, 2023
Every year the Bitcoin community is celebrating the fact that somebody bought two pizzas online. This looks a little bit strange at first glance but it is one of the most important moments in Bitcoin’s history. What is Bitcoin Pizza Day all about and why is everybody celebrating it?
May 22, 2023
The guys who self-identify as the Taproot Wizards - Eric Wall and Udi Wertheimer - entered the main stage of Bitcoin Miami to loud cheers. After their short and silly wizard dance, the panel discussion started in earnest. But not everyone in the Bitcoin community is a fan of their quirky attitude and projects.
May 19, 2023
We wrote about it earlier: Jason Lowery believes Bitcoin could become the world's reserve currency and that countries should engage in a peaceful "arms race" to mine Bitcoin. He believes Bitcoin is a form of digital property that will be defended similar to how navies secure maritime thoroughfare. Not everyone is sold on this concept. Let's discuss a contrarian view.
May 18, 2023
Stablecoin issuer Tether (USDT) in its recent reserves report reveals that the company holds approximately 52 thousand BTC, worth a respectable $1.5 billion. This is only a fraction of its total assets but signals an interesting potential trend of institutions allocating a piece of their capital to Bitcoin.
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