Bitcoin has seen a meteoric rise over the past few months with the price per coin creeping ever closer to $50,000. But in the early years bitcoin felt more like a novelty for nerds. In the years after it launched in 2009 you could effectively mine it on a computer in your bedroom and actually stack some serious sats. So the biggest question for a lot of early miners was how do you actually spend this stuff once you get it?
So helpful folks like Michael Hendricks put together tutorials on how to use workarounds to actually buy things using your cryptocurrency at places that technically didn't yet support making purchases with bitcoin.
In this video from 2011, Hendricks walks you through the process for using a service that let you buy gift cards with bitcoin. He then spends that gift card on a Domino's pizza.
At the time of the video, bitcoin was valued at a little less than a dollar. So this guy spent about 19 bitcoin for a pizza. The problem?
That pizza is worth nearly $1,000,000 today 😳
You just watched a guy, in real time, spend $1M on a pizza.
I mean, there's no way he could have known that if he sat on those bitcoin for 10 years, he'd be a millionaire today. But with the benefit of hindsight it's absolutely heart wrenching to watch him drop 19 bitcoin on a soggy-crusted Domino's pizza.
There are, of course, even worse stories of people dropping mad amounts of crypto on pizza. Perhaps the most infamous is this dude who dropped 10,000 BTC on two Papa John's pizzas back in 2010.
THAT'S NEARLY HALF-A-BILLION DOLLARS, MATE!
Boy, I hope he got extra garlic butter...
Whenever they interview him, he's like "I have no regrets."
But you know that dude's cup runneth over with regrets!
How could it not??