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Author Topic: Certain Bitcoins worth more than others?  (Read 2130 times)
hmblm1245
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August 09, 2011, 08:33:58 PM
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I recall reading about 3 months ago about someone looking to pay 1.5 btc for 1 btc that was offered in the original transaction about the pizza sold for 10000 bitcoins. https://bitcointalk.org/index.php?topic=137.0
Which is kinda interesting. Can certain bitcoins be worth more based on the transaction used? For example the first bitcoin ever mined being worth more than current btcs Just thought it would be interesting to hear what people have to say.
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ShaggyB (BitCoinWorldMarket)
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August 09, 2011, 08:40:23 PM
 #2

A bitcoin is only worth what someone else will pay for it (or value it).

I'm sure someone would want the very first bitcoin ever mined or maybe even the 3141th bitcoin or the 1337th bitcoin etc. Will they pay 100$ USD? 500$ USD? maybe...

I certainly wouldn't but that doesn't mean someone else won't

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August 09, 2011, 08:44:29 PM
 #3

I recall reading about 3 months ago about someone looking to pay 1.5 btc for 1 btc that was offered in the original transaction about the pizza sold for 10000 bitcoins. https://bitcointalk.org/index.php?topic=137.0
Which is kinda interesting. Can certain bitcoins be worth more based on the transaction used? For example the first bitcoin ever mined being worth more than current btcs Just thought it would be interesting to hear what people have to say.

It sounds like bitcoin numismatics

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August 09, 2011, 09:04:32 PM
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Can certain bitcoins be worth more based on the transaction used?

Just like physical coins and bills have numismatic value, bitcoins from certain blocks could have numismatic value as well.  This could be due to the block's low number, or because the block is special -- such as block 140,000 from a few days ago, which contained the last of the first 1/3rd of all bitcoins to be issued.  Your example, of coin whose immediate parent was part of the 10K BTC pizza purchase, is another.

The problem is that because the coins are data and can be copied, transferring these coins to a new owner without creating a new transaction involves trust that the previous owner will destroy any archives and not spend the coin.  This trust requirement is likely why there is no collectible market yet for bitcoins, and why there probably won't ever be much of one.

Virgin bitcoins (generated but never spent) can have value due to them having no prior history.  If you have generated coins, there is no prior transaction in the blockchain that might be used to help learn your identity.  Though with the current difficulty levels the ability to earn virgin bitcoin from solo mining is getting close to impossible, those in the P2Pool and Eligius mining pools do generate virgin bitcoins directly to the miner and those coins have no prior history.

While there was at one time miners selling virgin bitcoins on the #bitcoin-otc marketplace, those types of offers aren't seen very often anymore, so the conclusion might be made there really isn't much of a market for virgin bitcoin either.

That being said, I'm sure the value of the 50 BTC (plus tips that have since been received) held (presumably) by Satoshi are worth way more than what 50 X $[current market rate] would ever return.

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August 09, 2011, 09:06:31 PM
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Certain bitcoins are worth more.  Newly minted blocks of 50 are sold by some at a premium.  

willphase
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August 09, 2011, 09:10:17 PM
 #6

Yes my bitcoins are each worth 2 btc. Send me 2 bitcoins and I will send you one of my special ones for no extra charge! It's the bargain of a lifetime!

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August 09, 2011, 09:36:25 PM
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imagine a dollar or euro bill with a serial number that is exactly your birth day. how much would you pay for it?
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August 09, 2011, 09:54:08 PM
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imagine a dollar or euro bill with a serial number that is exactly your birth day. how much would you pay for it?

Whatever the face value is.

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August 10, 2011, 12:24:22 AM
 #9

I'd certainly be willing to pay extra for a "collector's" bitcoin, such as one of the pizza bitcoins or one of the genesis coins.
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August 10, 2011, 12:51:20 AM
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Half of my bitcoins are Errors, so they are worth more than everyone else's.  Smiley

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August 10, 2011, 01:41:39 AM
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Know www.wheresgeorge.com ?


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August 10, 2011, 02:14:47 AM
 #12

trust me,  I bought some at it's peak when we were building flexcoin,  I DID pay more than everyone else for the first flexcoins...  LOL



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August 10, 2011, 02:42:02 AM
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Interesting. Would be fascinating if you could trace the 'lineage' of the first bitcoins from the genesis block to someone holding them today. Well, I shouldn't say 'if' - that is what the blockchain is for. I don't think I'll be tackling that task, however.

The collectible aspect is a cool idea.

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August 10, 2011, 03:03:56 AM
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Interesting. Would be fascinating if you could trace the 'lineage' of the first bitcoins from the genesis block to someone holding them today. Well, I shouldn't say 'if' - that is what the blockchain is for. I don't think I'll be tackling that task, however.

The collectible aspect is a cool idea.

The genesis coins haven't been spent yet.

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Stephen Gornick
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August 10, 2011, 05:07:34 AM
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The genesis coins haven't been spent yet.

This is going futher offtopic, however,

The block chain (now) starts with block 0.
 - http://blockexplorer.com/b/0

And the address for the 50 BTC generated is here:
 - http://blockexplorer.com/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

Not only has that coin not been spent, it has received nearly a dozen "tips", adding more than .11 BTC to its balance.

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August 10, 2011, 05:24:25 AM
 #16

I recall reading about 3 months ago about someone looking to pay 1.5 btc for 1 btc that was offered in the original transaction about the pizza sold for 10000 bitcoins. https://bitcointalk.org/index.php?topic=137.0
Which is kinda interesting. Can certain bitcoins be worth more based on the transaction used? For example the first bitcoin ever mined being worth more than current btcs Just thought it would be interesting to hear what people have to say.

according to "mybitcoins" there coins are worth 51% more than the current, which means when converting our bitcoins to there coins we only get 49% of orginal value.

Binford 6100
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August 10, 2011, 06:44:11 AM
 #17

hey, it's me who paid premium on pizza coins.
looking at the history of the coins, they have 70+ transactions between the pizza and my wallet
and they got mixed on the way to me in one of the addresses, so they are 'only' 90% pizza
and i only got 3,50 (pizza content 3,15 ; ) but it's the most memorable trade so far and i wanted have a part of it
i'm glad i had them. would do it again.

btw if you stumble upon any of the 10 bitcoins from the first transaction satoshi - hal (block 120), drop me a PM.
any fraction

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