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Historic Purchase: Image Sold for 500 BTC Confirmed as First Bitcoin Commodity Transaction

  • The story of an image sold for 500 BTC continues
  • Some community members claim the transaction took place
  • Hence, this is officially the first purchase of an item for bitcoins

The story of a user trying to sell a JPEG image for 500 BTC in 2010 is gaining traction online once again. New details in the case.

As it turned out, the transaction did take place. And that means that this particular image is the first commodity bought with bitcoins.

We previously covered this event in detail. Note that at the time the author of the image, a certain “Sabunir”, was only asking $1 for his work..

It was nothing more than an experiment to test the capabilities of BTC.

It remained unknown for a long time whether the user was able to complete the transaction. Gige Energy co-founder Matt Lohstroh did his own research and got to the truth.

More importantly, Udi Wertheimer claims that Satoshi Nakamoto personally brokered the transaction.

And this means that the official first purchase of goods for BTC is precisely this transaction, not the pizza story, which happened three months later.

Even another crypto-enthusiast Mike MacDonald notes that it was not a sale. “Sabunir received 500 BTC as a donation.

As confirmation, he attached messages from the author of the image himself, who thanks the participants of the conversation for the translation.

Either way, it’s good that the story got its continuation. It is indeed an interesting moment in the formation of Bitcoin. By the way, 500 BTC is now $13.7 million. Not bad for a desktop wallpaper, right?