It's fun to look at the reply history and notice that someone new discovers these posts every month like clockwork and reminds this person how much he paid for pizza.
As others have mentioned, exchange rates have exploded since then and the titles are hyperbole. In May 2010, the exchange rate was about $0.005 (when 10k BTC was worth about $40). I don't have exact numbers, but I'm guessing around August 2010 the exchange rate was closer to $0.05 (or 8999 BTC worth ~$500). Given that gridecon says he bought the coins over time, I doubt he lost more than a couple hundred bucks of "investment".
Update: Based on forum posts in August 2010, seems like the rate was $0.06. I was close!
Sometimes I wonder how I missed such opportunities, or how I actually didn't figure them out. In the dawn of bitcoin, it was easy to mine 10K coins with my computers. That would make 10 years of an engineer salary in my country!
I wonder the same thing. I stumbled on Bitcoin from at tweet about a week before it hit parity with USD. I managed to earn 100+ BTC that week, and now it's worth almost $1000. If I came two weeks later, I wouldn't have been as lucky. If I came two months earlier, I would have been ten times as lucky.
Comments
Ah, a classic. Here's another post of a guy paying $90,000 for a couple of pizzas: http://forum.bitcoin.org/?topic=137.0
It's fun to look at the reply history and notice that someone new discovers these posts every month like clockwork and reminds this person how much he paid for pizza.
As others have mentioned, exchange rates have exploded since then and the titles are hyperbole. In May 2010, the exchange rate was about $0.005 (when 10k BTC was worth about $40). I don't have exact numbers, but I'm guessing around August 2010 the exchange rate was closer to $0.05 (or 8999 BTC worth ~$500). Given that gridecon says he bought the coins over time, I doubt he lost more than a couple hundred bucks of "investment".
Update: Based on forum posts in August 2010, seems like the rate was $0.06. I was close!
Sometimes I wonder how I missed such opportunities, or how I actually didn't figure them out. In the dawn of bitcoin, it was easy to mine 10K coins with my computers. That would make 10 years of an engineer salary in my country!
I wonder the same thing. I stumbled on Bitcoin from at tweet about a week before it hit parity with USD. I managed to earn 100+ BTC that week, and now it's worth almost $1000. If I came two weeks later, I wouldn't have been as lucky. If I came two months earlier, I would have been ten times as lucky.