Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 2/9 - To understand why this mattered, you need the backdrop. By mid-2014, bitcoin had cratered from a $1,200 peak in late 2013 to around $550. Mt. Gox, the world’s largest exchange, had just collapsed that February, losing roughly 850,000 BTC. The brand was in the gutter.
R to @daily_btc_lore: 2/9 - To understand why this mattered, you need the backdrop. By mid-2014, bitcoin had cratered from a $1,200 peak in late 2013 to around $550. Mt. Gox, the world’s largest exchange, had just collapsed that February, losing roughly 850,000 BTC. The brand was in the gutter.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 3/9 - BitPay was the opposite of struggling. The payment processor had just raised $30 million from backers including Richard Branson and Yahoo’s Jerry Yang, and was processing payments for over 33,000 merchants. They had money and a mission: drag bitcoin into the mainstream.
R to @daily_btc_lore: 3/9 - BitPay was the opposite of struggling. The payment processor had just raised $30 million from backers including Richard Branson and Yahoo’s Jerry Yang, and was processing payments for over 33,000 merchants. They had money and a mission: drag bitcoin into the mainstream.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 4/9 - So ESPN Events announced that the St. Petersburg Bowl, previously sponsored by Beef ‘O’ Brady’s, would become the Bitcoin St. Petersburg Bowl. Three-year deal. The game would air on ESPN, reaching college football fans who’d mostly never heard the word ‘bitcoin.’
R to @daily_btc_lore: 4/9 - So ESPN Events announced that the St. Petersburg Bowl, previously sponsored by Beef ‘O’ Brady’s, would become the Bitcoin St. Petersburg Bowl. Three-year deal. The game would air on ESPN, reaching college football fans who’d mostly never heard the word ‘bitcoin.’
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 5/9 - BitPay paid for the sponsorship itself in bitcoin, reportedly about $500,000 a year, roughly 900 BTC at the time. Fans could also buy tickets and merchandise with bitcoin through Ticketmaster. The whole event was bitcoin-denominated, not just bitcoin-branded.
R to @daily_btc_lore: 5/9 - BitPay paid for the sponsorship itself in bitcoin, reportedly about $500,000 a year, roughly 900 BTC at the time. Fans could also buy tickets and merchandise with bitcoin through Ticketmaster. The whole event was bitcoin-denominated, not just bitcoin-branded.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 6/9 - Executive chairman Tony Gallippi was blunt about the play: ‘College football fans and the bitcoin community represent a similar target demographic, tech-savvy men between the ages of 18 and 40.’ This was a calculated brand bet, not a charity sponsorship.
R to @daily_btc_lore: 6/9 - Executive chairman Tony Gallippi was blunt about the play: ‘College football fans and the bitcoin community represent a similar target demographic, tech-savvy men between the ages of 18 and 40.’ This was a calculated brand bet, not a charity sponsorship.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 7/9 - St. Petersburg leaned in too. Local restaurants, bars, even a vintage furniture store and the city’s history museum agreed to start accepting bitcoin. The Chamber of Commerce president admitted he’d never heard of bitcoin before BitPay showed up in town.
R to @daily_btc_lore: 7/9 - St. Petersburg leaned in too. Local restaurants, bars, even a vintage furniture store and the city’s history museum agreed to start accepting bitcoin. The Chamber of Commerce president admitted he’d never heard of bitcoin before BitPay showed up in town.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 8/9 - On December 26, 2014, NC State beat UCF 34-27 at Tropicana Field. Bitcoin’s name was on a nationally televised football game for the first time. It was strange, a little awkward, and exactly what an unproven currency needed: a shot at looking normal.
R to @daily_btc_lore: 8/9 - On December 26, 2014, NC State beat UCF 34-27 at Tropicana Field. Bitcoin’s name was on a nationally televised football game for the first time. It was strange, a little awkward, and exactly what an unproven currency needed: a shot at looking normal.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 9/9 - It didn’t stick. BitPay skipped renewal after one season; the bowl reverted to its old name in 2015. Still, it marked bitcoin’s first real shot at buying mainstream legitimacy.
Have a favorite Bitcoin history moment? Help me make sure it’s in my list and drop it below 👇🧡
R to @daily_btc_lore: 9/9 - It didn’t stick. BitPay skipped renewal after one season; the bowl reverted to its old name in 2015. Still, it marked bitcoin’s first real shot at buying mainstream legitimacy.
Have a favorite Bitcoin history moment? Help me make sure it’s in my list and drop it below 👇🧡
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 2/10 - The backdrop: the FBI had seized roughly 30,000 BTC from Silk Road’s servers when it shut down the dark web marketplace in October 2013. The US Marshals Service was now auctioning it off in blocks, worth about $17 to 18 million at the time. A $200,000 deposit got you in.
R to @daily_btc_lore: 2/10 - The backdrop: the FBI had seized roughly 30,000 BTC from Silk Road’s servers when it shut down the dark web marketplace in October 2013. The US Marshals Service was now auctioning it off in blocks, worth about $17 to 18 million at the time. A $200,000 deposit got you in.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 3/10 - On June 18, the Marshals sent an email updating interested parties on the auction’s FAQ. The plan was to BCC everyone so no one could see who else got the message. Someone put the list in the CC field instead, exposing every recipient’s email address to all of them.
R to @daily_btc_lore: 3/10 - On June 18, the Marshals sent an email updating interested parties on the auction’s FAQ. The plan was to BCC everyone so no one could see who else got the message. Someone put the list in the CC field instead, exposing every recipient’s email address to all of them.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 4/10 - The leaked list mixed academics, niche investors, and names that turned out to matter enormously. One was Fred Ehrsam, co-founder of a small bitcoin company called Coinbase — now one of the largest cryptocurrency exchanges in the world.
R to @daily_btc_lore: 4/10 - The leaked list mixed academics, niche investors, and names that turned out to matter enormously. One was Fred Ehrsam, co-founder of a small bitcoin company called Coinbase — now one of the largest cryptocurrency exchanges in the world.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 5/10 - Another was Barry Silbert, founder of SecondMarket. He’d go on to found Digital Currency Group and Grayscale, becoming one of the most influential figures in altcoin finance for the next decade. In June 2014, he was just another name on a leaked spreadsheet.
R to @daily_btc_lore: 5/10 - Another was Barry Silbert, founder of SecondMarket. He’d go on to found Digital Currency Group and Grayscale, becoming one of the most influential figures in altcoin finance for the next decade. In June 2014, he was just another name on a leaked spreadsheet.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 6/10 - The rest of the list included Yelp’s director of public policy, Luther Lowe, who clarified he was bidding personally rather than for the company; quant traders from BNP Paribas and Matrix Capital; and the leadership of publicly traded Bitcoin Shop. A genuinely odd mix.
R to @daily_btc_lore: 6/10 - The rest of the list included Yelp’s director of public policy, Luther Lowe, who clarified he was bidding personally rather than for the company; quant traders from BNP Paribas and Matrix Capital; and the leadership of publicly traded Bitcoin Shop. A genuinely odd mix.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 7/10 - The leak changed behavior immediately. People on the list started emailing each other. ‘The leak has definitely changed the dynamics,’ Bitcoin Shop’s Charles Allen told the New York Times, after openly discussing the sale with bidders he was about to compete against.
R to @daily_btc_lore: 7/10 - The leak changed behavior immediately. People on the list started emailing each other. ‘The leak has definitely changed the dynamics,’ Bitcoin Shop’s Charles Allen told the New York Times, after openly discussing the sale with bidders he was about to compete against.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 9/10 - On June 27, the auction ran for 12 hours. Silbert’s SecondMarket, Pantera Capital, and Bitcoin Shop all confirmed afterward that they’d been outbid on every block — their failed bids now matters of public record thanks to the same leak that exposed them in the first place.
R to @daily_btc_lore: 9/10 - On June 27, the auction ran for 12 hours. Silbert’s SecondMarket, Pantera Capital, and Bitcoin Shop all confirmed afterward that they’d been outbid on every block — their failed bids now matters of public record thanks to the same leak that exposed them in the first place.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 10/10 - The winner: VC Tim Draper, who took all 30,000 bitcoins in one bid. At June 2014 prices that was about $18 million. Today that stack is worth over three billion.
Have a favorite Bitcoin history moment? Help me make sure it’s in my list and drop it below 👇🧡
R to @daily_btc_lore: 10/10 - The winner: VC Tim Draper, who took all 30,000 bitcoins in one bid. At June 2014 prices that was about $18 million. Today that stack is worth over three billion.
Have a favorite Bitcoin history moment? Help me make sure it’s in my list and drop it below 👇🧡
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