Why Bitcoin was bought for the first time?

[Vadimekb]

I am writing a scientific thesis : development of new means of payment.

As with all the money Bitcoin meets several criteria. One of them is the fact that Bitcoin can be exchanged for goods or services.

But there was a question. Who was the first known decided to sell a product or provide a service for Bitcoin? Why he decided then that he would be able to spend the same Bitcoin?

If anyone has a clue, I'll be very grateful.

P.s. sorry for my English!

[ildubbioso]

There you go, the famous 10.000 BTC pizza: https://bitcointalk.org/index.php?topic=137.0

[Vadimekb]

Thank you!

I saw those thread yet. But the question unanswered.

Why pizza seller has decided that he would be able to spend these Bitcoins, which he received for the pizza?

This is the main and VERY interesting thing

[Kettenmonster]

The core of the ideas is: Somebody has to throw the first stone!

[ShadowOfHarbringer]

If anyone has a clue, I'll be very grateful.

At first, somebody bought a Bitcoin for fun, because it was cool & nerdy/geeky thing to do.

But once the man realized what he bought has real value, he didn't want to sell it so cheap - so the price rose.

There you have it - the beginnings of free market.

[Inedible]

I kill a squirrel. I try to sell it to you. You likely wouldn't pay anything for it.

I try to sell it to a starving man on a desert island. He'll be willing to give me everything he owns.

Different things have different values to different people at different times.

The guy who ACCEPTED the Bitcoin as an exchange of value is the person who had a need or a belief of Bitcoin.

He didn't believe it was worth much, hence 10,000 for one pizza. His value of a Bitcoin at that time was a little less than a fifth of a cent. To be fair, he was probably doing it for entertainment reasons.

Regardless, this put a real world value on each Bitcoin.

Someone believed that each Bitcoin was worth approximately $0.0014.

[Vadimekb]

Would you say that the seller changed the pizza  for Bitcoins just because it's fun and all?
I think that it was another reason to sell pizza not for stones )) but for bitcoins.

Maybe it was just for fun, may be not.

the state forces us to pay off with dollars, however nobody forces us to give real things for Bitkoin, but nevertheless it occurs. For what reason it was done by the first who began?

[Inedible]

Would you say that the seller changed the pizza  for Bitcoins just because it's fun and all?
I think that it was another reason to sell pizza not for stones )) but for bitcoins.

Maybe it was just for fun, may be not.

There was nothing you could do with Bitcoin at the time.

There was just the hope that it would become something bigger and useful.

[Vadimekb]

Would you say that the seller changed the pizza  for Bitcoins just because it's fun and all?
I think that it was another reason to sell pizza not for stones )) but for bitcoins.

Maybe it was just for fun, may be not.

There was nothing you could do with Bitcoin at the time.

There was just the hope that it would become something bigger and useful.

And what facts, which made this hope?
Any ideas?!)

Actually for some reason he had hope  that namely bitcoin would become something bigger and useful, but not stones or shells

This is a very interesting

[Remember remember the 5th of November]

There you go, the famous 10.000 BTC pizza: https://bitcointalk.org/index.php?topic=137.0

That dot is not a comma, which would represent thousands. That is 10,000(thousand) Bitcoins.

[AliceWonder]

There you go, the famous 10.000 BTC pizza: https://bitcointalk.org/index.php?topic=137.0

That dot is not a comma, which would represent thousands. That is 10,000(thousand) Bitcoins.

Depends upon which country you are in. The function of dot vs comma is not universal.

[Inedible]

Would you say that the seller changed the pizza  for Bitcoins just because it's fun and all?
I think that it was another reason to sell pizza not for stones )) but for bitcoins.

Maybe it was just for fun, may be not.

There was nothing you could do with Bitcoin at the time.

There was just the hope that it would become something bigger and useful.

And what facts, which made this hope?
Any ideas?!)

Actually for some reason he had hope  that namely bitcoin would become something bigger and useful, but not stones or shells

This is a very interesting

These are the facts.

The hopes were in the eye of the beholder.

He might have wanted to mine some Bitcoins but to him, it was more convenient to pay for a pizza for 10,000 of them instead. It saved him all that time setting things up and reading about it. To him it had at least a value of $14.

See my earlier example.

Take a squirrel to a billionaire in the US and ask him if he'd like to eat it for $1M. He'll tell you to get lost. Starve him for 2 weeks and ask him if he'd like it for $1M and I'm pretty sure he'd snap it up. To you and I, that squirrel is still worth nothing.

Something's value is dependent on the person and at the time.

[Vadimekb]

Would you say that the seller changed the pizza  for Bitcoins just because it's fun and all?
I think that it was another reason to sell pizza not for stones )) but for bitcoins.

Maybe it was just for fun, may be not.

There was nothing you could do with Bitcoin at the time.

There was just the hope that it would become something bigger and useful.

And what facts, which made this hope?
Any ideas?!)

Actually for some reason he had hope that namely bitcoin would become something bigger and useful, but not stones or shells

This is a very interesting

These are the facts.

The hopes were in the eye of the beholder.

He might have wanted to mine some Bitcoins but to him, it was more convenient to pay for a pizza for 10,000 of them instead. It saved him all that time setting things up and reading about it. To him it had at least a value of $14.

See my earlier example.

Take a squirrel to a billionaire in the US and ask him if he'd like to eat it for $1M. He'll tell you to get lost. Starve him for 2 weeks and ask him if he'd like it for $1M and I'm pretty sure he'd snap it up. To you and I, that squirrel is still worth nothing.

Something's value is dependent on the person and at the time.

This reason (why he need bitcoins) also is the purpose.
Why in general the first miners began to mine  bitcoins?!
This is not so obviously as it seems.

[mco65]

I think the answer your looking for is FAITH.
The first person to sell PIZZA for Bitcoin had FAITH that he could use that bitcoin to purchase something as well... if not immediately then in the very near future..

Faith and TRUST are the back bone of MOST currencies, not just BITCOIN.

[Vadimekb]

I think the answer your looking for is FAITH.
The first person to sell PIZZA for Bitcoin had FAITH that he could use that bitcoin to purchase something as well... if not immediately then in the very near future..

Faith and TRUST are the back bone of MOST currencies, not just BITCOIN.

I absolutely agree with you.

But if in a case with dollar or ruble, our belief is supported with state forces. Because of what there was a belief of the seller, what he thought he would buy something for bitcoins?
This is the thing about what we need to think

For example the belief in God : many people has it from stories of relatives or reading the bible.

And what was a reason of trust that the first who started selling something for bitcoins?

P.s. again I'm sorry for my English

[trasla]

Dont forget that BTC are limited, in a way well known.
By selling the pizza for 10000 BTC, he got somethign which he knew would grow harder and harder to obtain.

And, besides, probably the main reason is, he liked the idea.
You might think a free and unregulated currency is a good idea, and support it by risking the amount of 14$.
Or its just playing with science, like "whoo, how does this work, lets try it, it costs less than an evening in the cinema!!

[Gabi]

There you go, the famous 10.000 BTC pizza: https://bitcointalk.org/index.php?topic=137.0

That dot is not a comma, which would represent thousands. That is 10,000(thousand) Bitcoins.

America is not the world 

[xxjs]

I am writing a scientific thesis : development of new means of payment.

As with all the money Bitcoin meets several criteria. One of them is the fact that Bitcoin can be exchanged for goods or services.

But there was a question. Who was the first known decided to sell a product or provide a service for Bitcoin? Why he decided then that he would be able to spend the same Bitcoin?

If anyone has a clue, I'll be very grateful.

P.s. sorry for my English!

Good question. The regression theorem states that things can not come into moneyness by itself. There has to be a reference to yesterdays prices, the day before that and so on all the way back in time before money existed. At that time the value would start with intrinsic value, just like in barter.

Bitcoins has no intrinsic value, and thus is at odds with the regression theorem. Personally I think the regression theorem is wrong, or at least you have to modify it. Modern people have no problem accepting that the fiat money has no intrinsic value, and it is quite obvious that bitcoin in the beginning, even if it had no value, could in the future aquire exchange value.

[Vadimekb]

Dont forget that BTC are limited, in a way well known.
By selling the pizza for 10000 BTC, he got somethign which he knew would grow harder and harder to obtain.

And, besides, probably the main reason is, he liked the idea.
You might think a free and unregulated currency is a good idea, and support it by risking the amount of 14$.
Or its just playing with science, like "whoo, how does this work, lets try it, it costs less than an evening in the cinema!!

Yes. Everything is right! ... but there are many things become rare on the Earth (Old cans for exaple). But nevertheless, he chooses to receive Bitkoins for the pizza. He could exchange this pizza for a tail of a squirrel, or shit of a whale or images of someones fingerprints (this is also rare things)
But, what attracted in idea of bitcoin not in idea of ... ?

[Remember remember the 5th of November]

There you go, the famous 10.000 BTC pizza: https://bitcointalk.org/index.php?topic=137.0

That dot is not a comma, which would represent thousands. That is 10,000(thousand) Bitcoins.

America is not the world 

I live in Europe mind you, and English is NOT my native language.