WORLDCORE: 5 top cryptocurrency purchases. Top purchases occur during abrupt fluctuations in cryptocurrency rates

Oksana Belyanskaya
Sep 6, 2018 · 4 min read

Following the emergence of cryptocurrencies and the chance to exchange them for one another, as well as goods and services, this exchange remained the lot of many crypto-enthusiasts both on the sellers’ and on the buyers’ side. Transactions were few and far between, some of them were of an outlandish nature, as we can now tell, and many have survived exclusively in folklore — thematic threads on bitcointalks.org. European fin-tech company Worldcore prepared a review of the five biggest transactions involving asset purchases that utilized bitcoins.

“A highest-level volatility of cryptocurrency rates with the relatively low market capitalization had not allowed bitcoin to be used as a full-fledged means of exchange up until recently,” comments Alexey Nasonov, the head of Worldcore and the worldcore.trade exchange. “If we compare purchases with cryptocurrency to any country’s monetary system, it is similar to a certain type of goods entering the market under conditions of hyperinflation today and hyper-deflation tomorrow. Exchange rate stability is out of the question; thus, transactions are not of a merely irregular nature, but extremely rare and non-public. Then, the morning after, either the buyer clutches his head in horror, or the seller searches for ways to get the sold asset back.”

The fifth place in the top bitcoin transaction rating is granted to the booking of a private jet flight from Brussels to Nice in 2013 by Olivier Janssens. The multimillionaire booked a flight with the British jet operator company PrivateFly.com. The transaction details were not revealed by the sides, yet according to CoinDesk data, this flight could cost approximately between 10 and 55 bitcoins at that time, depending on the size of the jet being rented.

The fourth place is taken by a Porsche Cayman S purchase by an anonymous buyer who payed 300 bitcoins to buy this amazing auto from a Texas family. The buyer is known to be ‘a young businessman involved in a diverse range of activities — from construction to production and sales of food and drinks.’

The third place is occupied by the fall 2017 sale of his own house with all its assets for 85 bitcoins by Didi Taihuttu — a Dutch IT expert, a miner since 2012, and a father of three. The family has been living on camping sites ever since, while crypto-evangelist Didi has become a media persona and an ICO consultant because of his desperate love of adventure. He brings up the children along with his wife, invests 20% of his income in cryptocurrency purchases and plans on holding on to bitcoin up to 2020.

The second place is held by the sale of Michael Komaranski of his 900-sq.m. home in Coral Gables, Miami in February 2018 for 455 bitcoins (the-then equivalent of about $6 million). A curious fact: the transaction was conducted in late January 2018, with a rate of about $10,ooo for 1 bitcoin, and in just a week the BTC/USD rate dropped by over 35% to $6200 per bitcoin.

According to Alexey Nasonov, the analysis conducted by his specialists comprised numerous real estate transactions, however, as a rule, the parties to these transactions do not reveal either the price of the property or their identity, so the following largest deal included in the top rating is one with a known price and at least one identifiable party.

The first spot in the most expensive bitcoin purchase rating was, is and will be occupied for many years to come by a legendary purchase of two pizzas for 10,000 bitcoins in May 2010 by a Florida software developer Laszlo Hanyecz. At that time bitcoin was not yet a global exchange asset and it was impossible to determine its real value. It is only known that according to different valuation it constituted between 0.8 and 0.3 US cents. On May 18, he wrote in a bitcointalk.org forum thread that he’s willing to exchange 10,000 bitcoins for two pizzas delivered to him. Four days later a man nicknamed ‘jercos’ used his credit card to pay for two Papa John’s pizzas to be delivered to Laszlo’s address. Since then, May 22 has been celebrated by all crypto-evangelists as the Bitcoin Pizza Day, and the current price of this pizza is recorded online in a special chart at https://www.theatlas.com/charts/Hk8eS6WyX,while Laszlo Hanyecz has forever become ‘the guy who bought two pizzas for ten thousand bitcoins.’

Summing up this purchase list, Worldcore analysts note that if these sale and purchase transactions were distributed along a timeline and compared to bitcoin rate growth, it would become apparent that the interest in such purchases is tied to the local maximums of the cryptocurrency price. Asset sellers are interested mostly in the asset price as expressed in traditional currency, rather than the crypto-asset itself. Therefore, strictly speaking, these are not purchase and sale, but, rather, direct exchange transactions. Two things are still required in order for bitcoin to become a fully accepted monetary unit, namely, capitalization, whose low level makes it susceptible to strong volatility, and a convenient mechanism for exchanging it for goods and services. For instance, it could be a mechanism similar to the widely used and widely accepted bank card.

Oksana Belyanskaya

Written by

ICO Rocket PR CoFounder, best PR for blockchain, pre-ICO and ICO ever, since 2008 in Russia, CIS, Europe, USA

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