I Lost a Bet that Cost me $100k.

A Commentary on Bitcoin Pizza Day.

Bitcoin Pizza Day is a historic day that the entire Bitcoin ecosystem celebrates. I will be eating Pizza for dinner today!! For those who don’t know, on May 22, 2010, Laszlo Hanyecz bought two pizzas for 10,000 Bitcoin (at todays prices worth $700,000,000). There’s an amazing thread about this here.

The reason it’s so important to celebrate is:

• It’s important we celebrate and endorse the use of Bitcoin!

• It’s important to celebrate how far Bitcoin as an ecosystem has come. The price represents enthusiasm and trust in the industry and Pizza day is a great heart beat of where we are!

• It’s important to come together as an industry and eat some Pizza!!

Something I wanted to highlight is that if you have been in the industry long enough, we all have a story like Laszlo’s, and today I thought I would share one of mine!

I encourage you to share your story today!! On Bitcoin Pizza Day!!!

Here it goes! In 2014, I was trying to get in shape. In order to get into shape, I made a bet with one of my best friends that I would work out more than him over a three month period. Each month we would settle a bet. The bet was for $50 each month.

At the end of three months, my friend, Matt Gunderson, had won all three months! We have an excel spreadsheet somewhere that holds our hours worked out.

So I made an offer to him:

“ I can pay you in Bitcoin, or in US Dollars.”

To his credit, he had listened to me harp on about Bitcoin for months, and decided to accept the bet in Bitcoin. So I paid him… 1.5 Bitcoin. Because each Bitcoin was worth around $100 at the time.

Today that would be worth more than $100,000… good job Matt!!!

I hope you all get lucky enough to lose a $100k bet to a friend!

So cheers to my friend Gundy!!!!

THE GOAL OF BITCOIN IS TO SPREAD IT TO ALL!!!