The Early Days of Bitcoin: Correspondent Remembers $ 200K Sushi Dinner After Spending 10 BTC, Former Bitcoin Dev Sells 55,000 BTC for Under $ 30 Per Piece

As bitcoin touched an all-time high this week, New York Times technology correspondent Kashmir Hill recalled how 10 BTC ($ 224k) spent for a sushi lunch for a couple of dozen strangers. Hill wrote about the dining experience in a recent article entitled “How To Bleed My Bitcoin on Sushi: My $ 200,000 Sushi Dinner.” In addition, early bitcoiner Martti Malmi wrote about how he sold 55,000 BTC which would now be worth over $ 1.2 billion.

Journalist Spends 10 BTC on Sushi Dinner With Strangers in 2013

The price of bitcoin (BTC) has climbed to new price heights this past week and a few people have been writing about spending coins in the early days.

For example, well-known New York Times (NYT) technology columnist Kashmir Hill recently wrote about her experience living on bitcoins for a whole week in 2013. Hill said she spent $ 136 a penny on Coinbase at the time, and spent one night 10 BTC ($ 224k) on a sushi lunch.

“Back in May 2013, I spent in one night what would be worth about $ 200,000 today on raw fish and shrimp tempura rolls to people I had just met,” Hill said of her week-long crypto experience.

“I was a reporter in Forbes magazine at the time dealing with technology and privacy. Bitcoin had come on my radar as a privacy protection technology allowing people to make anonymous online purchases, such as paying cash in the real world. ”

The Early Days of Bitcoin: Correspondent Remembers $ 200K Sushi Dinner After Spending 10 BTC, Former Bitcoin Dev Sells 55,000 BTC for Under $ 30 Per Piece
NYT reporter Kashmir Hill spent 10 BTC on a sushi lunch at a restaurant called the Sake Zone. Because it received bitcoin (BTC) back in the early days, the owner of Sake Zone, Yung Chen, retired after collecting 41 BTC over the years.

On the last night of his week-long bitcoin spending spree, he decided to celebrate by having a sushi lunch at a place called the Sake Zone. He opened an invitation to complete strangers on Reddit and book a table for 15 or more in the Yung Chen Sake Zone.

Then years later after the spending experiment in 2020, Hill called restaurant owner Yung Chen to see how he was doing. Thanks to his merchant reception at the time including a 10 BTC Hill lunch, Chen managed to acquire about 41 BTC ($ 923,000). Chen and his wife decided to retire after being “tired of the long hours,” Hill wrote.

Sake Zone owner Yung Chen said:

The Bitcoin has become one of the major savings assets in my portfolio. It’s a lot. It’s close to like half a million dollars in my account.

Martti Malmi: ‘I would be a Millionaire Now if I hadn’t sold the 55,000 Bitcoins I Was Mining’

In another story, early bitcoiner Martti Malmi this week recalled how he would have been a billionaire had he not sold 55k BTC back in the day. Malmi was a Bitcoin developer between 2009 and 2011.

“I would be a * billionaire * now if I had not sold the 55,000 bitcoins I had mined on my laptop in 2009-2010 too early (mainly before 2012),” Malmi tweets on a Friday. “That’s unfortunate, but then again, with the early bitcoiners we set out to be nothing more than personal profit,” he added.

The Early Days of Bitcoin: Correspondent Remembers $ 200K Sushi Dinner After Spending 10 BTC, Former Bitcoin Dev Sells 55,000 BTC for Under $ 30 Per Piece
Martti Malmi, an early bitcoiner, was the developer of Bitcoin software between 2009 and 2011. This week Malmi remembered spending 55k BTC and if he hadn’t spent the coins, he would be a billionaire today. Malmi managed to throw a nice studio apartment in 2011 with some of her bitcoins.

Malmi also recalled how he ran a bitcoin exchange for a while in 2010. “At the time, there was no established exchange rate, and I operated it more like a bitcoin faucet than a business, ending with 30,000 BTC at less, ”Malmi He said. The early bitcoin bidder said he had just more than two Papa John pizzas.

Malmi tweeted further:

In 2011 when the exchange rate peaked at $ 15- $ 30, I sold over 10,000 BTC to buy a fairly comfortable studio apartment near Helsinki. Big deal for a 22-year-old man who never got much money. Probably the most expensive studio in the world now, but at least I got more than 2 pieces.

Malmi recalled a time in 2011 when he offered a 1,000 BTC bounty for “getting big business to accept bitcoin,” and said it was never claimed. After he decided to hold his BTC but then had to sell most at “a poor rate (~ $ 5) in 2012 when finding a new job took longer than expected.” The early adopter said he had kept “a variable amount of savings at BTC” and was happy about the recent price development.

“Thank you, Satoshi and others who have made Bitcoin what it is today,” concluded Malmi. “May it bring peace and prosperity to the world. Long live Bitcoin. ”

What do you think of Kashmir Hill’s $ 200k sushi lunch and Martti Malmi selling 55k bitcoin at extremely low prices? Let us know what you think of this topic in the comments section below.

Tags in this story

Flat, Bitcoin, Bitcoin (BTC), Cryptocurrency, Early Days, Former Developer, Kashmir Hill, Martti Malmi, NYT Correspondent, Sake Zone, 55k BTC Sales, shrimp tempura rolls, BTC Spend, Crypto spending, sushi lunch, technology correspondent, Yung Chen

Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter, @marttimalmi,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, nor a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.

Source