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Miguel Cuneta Profile picture
@MiguelCuneta
Aug 19, 2019 • 8 tweets • 3 min read • Read on X
Thread: A little bit of fun #Bitcoin history. Back in 2010, someone posted a contest on the Bitcointalk forum pledging 20 BTC to whoever submit the funniest bitcoin image with the word "Bitcoin GALORE!" It quickly ballooned to 40 BTC as others added to the pot. 👇
At the time, that was worth about $20. Today, that's worth about $430,000. THIS was the glorious winner of the contest, a piece of art that would put Da Vinci to shame:
Four years later, in November of 2014, I posted a similar contest on Reddit. No, I didn't give 40 BTC. I gave the USD equivalent of $20, which was at the time .04 BTC or 4,000,000 sats. I also added 4M sats more for the top ten submissions. One Bitcoin was $440 at the time.
In today's #Bitcoin price, that's $850. This was the masterpiece that won that contest. For those who have been around since those early days, we all know who this guy is. A dead accurate rendition of one of the most infamous people in Bitcoin.
I actually did it again, four years later, in 2018. This time I celebrated 1M subscribers on r/bitcoin with the same contest, and gave away 1,000,000 sats, which was about $40 at the time, now worth $107. Fewer people participated, so I had to choose the most original entry.
Maybe one day it will also become a part of #bitcoin history... but probably not😆. It was called "The Regretful Nocoiner":
So it goes without saying that I will be doing this again in 2022. What's the contest going to look like in 2022? How many Satoshis will $40 cost? How much will all that BTC I gave away be worth? How much will the original 40 BTC be worth?

Let's HODL and see. 💪🚀
LINKS:

Bitcointalk thread: bitcointalk.org/index.php?topi…

My 2014 Reddit contest results: reddit.com/r/Bitcoin/comm…

My 2018 Reddit contest results: reddit.com/r/Bitcoin/comm…

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More from @MiguelCuneta

Miguel Cuneta Profile picture
Mar 20, 2023
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.
Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.
Their massive overhead costs make micropayments impossible.
Read 8 tweets
Miguel Cuneta Profile picture
Dec 12, 2021
When I was 17, I became obssessed with Bruce Lee's Jeet Kune Do. His philosophies on martial arts played a massive role in making me who I am today.

Here are my 11 favorite quotes from #Brucelee that I can still write from memory a quarter of a century later.👇
On personal development:

"Absorb what is useful, discard what is useless, and add what is essentially your own."
On self-knowledge/relationships:

"To know oneself is to study oneself in action with another person."
Read 14 tweets
Miguel Cuneta Profile picture
Dec 11, 2021
If you made an informed decision to buy #Bitcoin at $65K, you should like it even more at $48K. We're talking about the most important discovery of the digital age -- the invention of digital scarcity -- backed by an unstoppable pure free market nation-state level energy network.
If you are scared of this volatility, you are over exposed, plain and simple. Everyone and anyone can place a bet, any amount, on #Bitcoin's success. Nobody said go all-in. Unless you are a trader, there's no reason to stress out about the daily price action.
Make informed decisions, and depending on the level of your conviction, act accordingly. It's really that simple. If you're here to get rich quick, you're gonna have a bad time. Just enjoy the ride, ups, downs, and all that. Be an enjoyer, and this will all be so much more fun.
Read 4 tweets
Miguel Cuneta Profile picture
Nov 5, 2020
1. Who will be the first critic to say “I was wrong about #Bitcoin”?

How many decades must the Bitcoin network persist before the staunchest of Bitcoin haters like Krugman or Roubini swallow their pride and admit that it was all a big misunderstanding?
2. How many trillions of dollars in value will the #Bitcoin network, a once-in-a-millennia monetary phenomenon growing at an unprecedented pace with unstoppable momentum, have to capture to convince everyone that it is here to stay?
3. What if the internet was created so that #Bitcoin can be possible? A precursor technology to a more advanced, self-sustaining, stateless, leaderless, permission-less, living network, sustained by pure electricity, greed, and more importantly, human ingenuity, -
Read 14 tweets
Miguel Cuneta Profile picture
Jul 10, 2019
Thoughts from a #Bitcoin Bull-Bear-Bull-Bear-Bull market survivor:

I discovered Bitcoin in 2013, it was $30. Bought my first few at around $150 later that year. Bought a lot, spent a lot, made money, lost money, started a company, and learned a lot of lessons along the way.
Lesson 1: Stop thinking it’s too late. We haven’t even seen the tip of the iceberg. Even in 2013, people would say "Those that bought in 2012 were so lucky, we are too late." You wish you bought when it was cheap, but would you? Probably not. Why didn’t you buy more at $3K?
Lesson 2: Stop thinking about the 50 BTC you lost on satoshi dice, or the 5 BTC for that bag of herb that you smoked. It’s gone. Stop thinking you should have sold at $20K and bought back in at $3K instead of hodling all the way down and capitulating “to buy at $1.8K”. ---
Read 21 tweets
Miguel Cuneta Profile picture
May 22, 2019
1/ Listening to @PeterMcCormack's #bitcoin podcasts. Technical discussions are great, but damn does it make me cringe when guys like @rogerkver or whoever else living in their ivory towers start talking about how Bitcoin is for the "unbanked" in the 3rd world. They know nothing.
2/ The level of ignorance about this is unbelievable, but what's more shocking is their confidence that they know what's best for "these people living in Uganda or the Philippines who can't afford to spend bitcoin on the "main chain" because muh fees." This is laughable.
3/ NO, they will not choose BCH or whatever crypto over BTC because the fees are lower. Literally nobody cares about that shit. You guys need to stop using this narrative. It's condescending and ignorant. #Bitcoin is a tool that will be used for the benefit of the world, yes, but
Read 15 tweets

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