Infamous bitcoin pizza guy who squandered $365M haul has no regrets.
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In May 2010, California student Jeremy Sturdivant, then 19, crypto trade copy noticed a bizarre request on a cryptocurrency internet forum: He could receive 10,000 bitcoins, at the time reportedly valued at $41, in exchange for the delivery of two large pizzas to Florida resident Laszlo Hanyecz, 28.
Sturdivant filled the order, sending him two large pizzas (cheese and "supreme") from Papa John’s — a transaction that would become the first physical purchase made with bitcoin in history, marked by the annual Bitcoin Pizza Day on May 22.
But Sturdivant didn’t save the bitcoins for the future; instead, he spent them all on travel.
Today, that lowly 10,000 bitcoin haul would be worth a pie-in-the-sky $365 million.
"I had no idea how huge it would become," Sturdivant said. But despite losing out on boundless riches, the now-30-year-old said he is "proud to have played a part" in the "global phenomenon."
On May 22, 2010, Jeremy Sturdivant (above) traded two large pizzas for 10,000 Bitcoins from Laszlo Hanyecz — a transaction that would come to inspire the annual Bitcoin Pizza Day celebration. Linkedin.
The tale is now the stuff of bitcoin legend. In his May 18, 2010, Bitcointalk.org post, Hanyecz — a forum contributor — made the request, including his palate preferences: "I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc. just standard stuff no weird fish topping or anything like that," he wrote.
Laszlo Hanyecz pictured in 2010 with his children and the two Papa John’s pizzas purchased with 10,000 bitcoins — which cost the equivalent of hundreds of millions of dollars today. Laszlo Hanyecz.
Sturdivant followed through on Hanyecz’s appeal — and top 5 traded cryptocurrency the rest is history.
Launched in 2009, bitcoin wouldn’t reach 1:1 with the dollar until early 2011. And although the price is volatile even today, it’s safe to say that Sturdivant’s haul could have been worth hundreds of millions of dollars had he decided to invest the funds.
"If I had treated it as an investment, I might have held on a bit longer," Sturdivant told the Telegraph in 2018 of spending his earnings on a road trip with his girlfriend. "I would never have thought that the same number of bitcoin would have a purchasing power on the order of real estate."
‘If I had treated it as an investment, I might have held on a bit longer.’
"Retrospectively," Sturdivant admitted to Bitcoin Who’s Who, it’s "crazy" to think of anyone having that much bitcoin today.
And, like Sturdivant, Hanyecz has said in previous interviews that he does not regret his craving-induced purchase.
"I wanted to do the pizza thing because to me it was free pizza," he told Bitcoin Magazine in 2019. "I got pizza for contributing to an open-source project. Usually hobbies are a time sink and money sink, and in this case, my hobby bought me dinner.
"I think that it’s great that I got to be part of the early history of bitcoin in that way," he told Coin Telegraph in 2018. Hanyecz, now 39, went on to spend 100,000 bitcoin — currently $3.8 billion — on pizzas alone in the summer of 2010.
"I’d like to think that what I did helped," he added. "But I think if it wasn’t me, somebody else would have come along."
Bitcoin Pizza Day: Celebrating the $80 Million Pizza Order.
Aaron Hankin is currently working for Dow Jones MarketWatch. He has 10+ years of professional experience in the financial markets.
May 22, 2018, marks the eight-year anniversary of the first Bitcoin transaction, in which a Florida man paid for two pizzas with the cryptocurrency. The day has become part of folklore, not because of the transaction, but more the price: the man in question paid 10,000 Bitcoins, which today is worth over $80 million, for the two pizzas.
On May 22, 2010, now known as Bitcoin Pizza Day, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered Papa John's pizzas. Organized on bitcointalk forum, the Florida man reached out for help. "I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day," Hanyecz wrote.
"I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!"
A British man took up Hanyecz's offer and bought the two pizzas for him in exchange for the 10,000 Bitcoins. Even then the recipient of the Bitcoins got himself a bargain, paying $25 for the pizzas, while 10,000 Bitcoins were worth around $41 at the time.
Since the inception of Bitcoin, Hanyeczs' pizzas have got more and more expensive. Nine months after the purchase, Bitcoin reached parity with the U.S. dollar, making the two pizzas worth $10,000 and in 2015—the fifth anniversary of Bitcoin Pizza Day—the two pizzas were valued at $2.4 million. Today, Bitcoin is at just over $8,200, making the pizzas worth . you get it.
Despite the astronomical rise in the price of Bitcoin it seems Hanyecz is not phased about his deal. "It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool," Hanyecz told the NY Times.
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Swift Code (BIC) - SIBCSARI XXX - SAUDI INVESTMENT BANK, THE.
In this page you will find detailed information about the swift code " SIBCSARIXXX " of " SAUDI INVESTMENT BANK, THE ".
Institution SAUDI INVESTMENT BANK, THE Branch name Branch code XXX Alternative options Sending money via your bank can be expensive because of markups they add to the exchange rate. You may want to consider alternatives like Wise, formerly TransferWise, who are up to 5x cheaper than banks for sending and receiving money abroad.
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SWIFT code.
SIBCSARIXXX Click to copy it.
SWIFT code (8 characters)
SIBCSARI Click to copy it.
What is a SWIFT code?
SWIFT codes are used to identify banks and financial institutions worldwide. They are used by the swift network to transmit wire transfers (money transactions) and messages between them. For international wire transfers, swift codes are always required in order to make transactions secure and fast.
These codes were initially introduced by the SWIFT organization as "swift codes" but were later standardized by the International Organization for Standardization (ISO) as "BIC" meaning "Business Identifier Codes". Most people think B.I.C. stands for "Bank Identifier Codes" ("bank" instead of "business") but that is incorrect since non-financial institutions can also join the swift network.
A " BIC code " can be seen by many different names, like " SWIFT code " (most common), " SWIFT ID ", " SWIFT-BIC ", " SWIFT address ", " BEI " (that comes from "Business Entity Identifier"), or even " ISO 9362 ", which is the standard format that has been approved by the ISO organization. The acronym SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication.
In depth analysis of a swift code.
Swift codes are broken down into sections, in the same way telephone numbers are broken into sections, and every section reveals some information about the institution that was assigned this code. They consist of eight or eleven characters. Whenever an eight-character code is used, then it is referring to the headquarters (main office) of the institution.Here is how an 11-character code is broken down and what each section of characters represents. Let's take this imaginary 11-character swift code : AAAABBCCDDD.
It can be broken down to these sections: AAAA – BB – CC - DDD.
Section 1 (the first 4-characters " AAAA "): This code is used to identify the institution’s global presence (all branches and all divisions around the world). For example, "CHAS" is used for "JPMORGAN CHASE BANK"
Section 2 (5th and 6th characters " BB "): This two-letter code represents the country of this particular institution’s branch and follows the ISO 3166-1 alpha-2 standard for representing country codes. For example, "US" for "UNITED STATES", "GB" for "UNITED KINGDOM", CA for "CANADA", etc.
Section 3 (7th and 8th characters " CC "): These characters represent a location code (e.g. "FF" is the code for "Frankfurt", "KK" is the code for Copenhagen, etc.) and also the second character (8th in the B.I.C.) sometimes carries this information:
If it is equal to "0", then it typically is a BIC assigned for testing purposes (as opposed to a BIC used on the live network). If it is equal to "1", then it denotes a passive participant in the SWIFT network. If it is equal to "2", then it typically denotes a "reverse billing" BIC, meaning that the recipient of the message has to pay for the message.
Section 4 (9th to 11th characters " DDD "): These final three characters form a "branch code" that refers to the particular branch of the institution. If this section is omitted, then we have an 8-character swift code that is assumed to refer to the HEAD OFFICE of the institution. Also, a typical naming convention is that in the case we are referring to the main offices of an institution, this branch code is "XXX".
Some popular swift code searches:
Bank of America swift code: Bank of America BOFAUS3NXXX (or simply: BOFAUS3N) Chase swift code: JP Morgan Chase CHASUS33XXX (or simply: CHASUS33) HSBC swift code: HSBC Bank PLC MIDLGB22XXX (or simply MIDLGB22)
Try our online SWIFT/BIC lookup tool to locate any of the thousands active or passive swift codes. Our primary focus is to provide you with the most accurate and up to date database of financial institutions all over the world. You can search for an institution’s detailed data by entity name, BIC, or even specific keywords that narrow the search results even more. You can also browse for swift codes by clicking on the list of countries and then choosing the institution's name from the alphabetical list.
We are certain that this site will help you save a lot of time (hence. money!), especially if you are dealing with lots of bank transactions daily. Please read our disclaimer at the bottom of this page before using our online tool.
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10+ Mortgage Gift Letter Templates in PDF | Word 1. Mortgage Gift Letter Template 2. Mortgage Gift Letter Form 3. Mortgage Gift Donor Letter Template 4. Mortgage Gift Funds Letter 5. Mortgage Gift Donor Letter in PDF 6. Mortgage Gift of Equity Letter 7. Mortgage Gift Letter in PDF 8. Mortgage Gift Deposit Letter 9. Mortgage Gift Money Letter 10. I am buying from a Parent who is providing the deposit. My friend is gifting my deposit. The circumstances above are examples of situation where a standard gift letter may not be enough to satisfy the mortgage lender. In these cases speak to an experienced mortgage broker.
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Call us 020 8979 9684. A mortgage gift letter is a formal document that provides information about the funds gifted towards a mortgage by a donor to a beneficiary. A mortgage gift letter often requires supporting documentation such as bank statements, source of funds, and proof of relationship. A Gift Letter for a Mortgage is a legal instrument completed by the individual who gifts the prospective homeowner the funds to finance the mortgage. It is necessary to confirm the homeowner received the money from a legitimate source - their family member, partner, or friend. GIFT LETTERS FOR MORTGAGE TEMPLATES The following templates include all the necessary verbiage for a gift letter and should satisfy most lenders. That said, some have stricter requirements than others, and certain types of loans, like conventional loans owned by Fannie Mae and Freddie Mac, restrict the relationships allowed to give a gift. Gift Letter for Mortgage Template What Is a Gift Letter for Mortgage? A Gift Letter for a Mortgage is a written statement prepared by the gift donor to support the mortgage borrower's claim that the funds used for the mortgage came from legitimate sources. Browse the links below to download printable Mortgage Gift Letter templates and samples. In the gift letter, you must state the name of the giver, the address, contact details, the giver's relationship with you, the amount, and the source. The gift letter for mortgage must also specifically emphasize that the amount given isn't considered a loan. Gift Letters For Mortgage Download 14 KB #10 Download 33 KB #11 Download 17 KB #13 The gifted deposit letter itself must include the following: Name of the mortgage applicant and also the receiver of the gifted deposit. Address of the mortgage applicant Name of the person gifting the deposit Address of the person gifting the deposit Relationship between mortgage applicant and person gifting the deposit Use our updated Gifted Deposit Letter Template below which is suitable for your solicitor and mortgage lender. Template in Word Format Template in PDF Format 7 stages of a Gifted Deposit Letter? 1 Who, relationship and address The parties declare the full name of the person giving and receiving the gift, their relationship to them and the purpose.
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A gift letter for a mortgage is a written statement confirming that funds given to a borrower for a down payment are a gift rather than a loan that has to be repaid. The letter must explain who is gifting the money, where the donor's funds are coming from and the relationship between the donor and the recipient. How to Edit Gift Letter For Mortgage Online for Free It is easy to fill out forms through our PDF editor. Editing the gift letter for mortgage loan sample form is not hard in case you keep up with the following actions: Step 1: The very first step will be to press the orange "Get Form Now" button. Gift Letter Template (Sample) All loan programs require the following information in the mortgage gift letter: Donor's name, address, telephone number The dollar amount of gift Relationship of donor to the borrower Confirm that there is no expected repayment from the borrower to the donor Donor signature Borrower signature Date A mortgage gift letter must include the donor's name and information, the gift amount, and other details about the home and gift. It's written and signed by the donor, but your mortgage lender may have a template available to use. A mortgage gift letter must include: Donor's name and contact information Address of property being purchased This is the gift letter template for a mortgage that's accepted by most lenders. If your lender has specifically asked for a statutory declaration then please use the 2nd template. 1/10/2018 To Whom It May Concern: Re: John Smith I confirm that I am giving my son John Smith an unconditional gift of $50,000 for him to use to buy a property. A gift letter for mortgage is a document written by a giver specifying that they are providing you with funds to make a down payment on a property. The letter, which is presented to your mortgage lender, should indicate that the giver does not expect to be paid back. 20+ Gift Letter Templates - Word, PDF Gift letters may be used in a lot of ways depending on the kind of gift given. It can serve as a for the gift that has been received during an occasion, it can also be a letter stating the information about a gift donation, and it can also include items related to the documentation of mortgage gift. Gift Letter Template Your lender might give you a template to follow if you tell them you're using a gift for your down payment.
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If they don't give you a template, you can use our sample template below and just enter your own information: [Donor name, address, phone number and relationship to recipient] [Recipient name and new property address] I have received conflicting advice in regards to gift deposit letters. My mortgage broker has advised that we can simply draft a letter ourselves and this needs to be signed by both my parents. On the other hand, my solicitor has advices that they would need to draft this document and there would be an additional charge of _150 + VAT. Gifted deposit letter template The person giving the gift must always provide a gifted deposit letter to a mortgage lender. It needs to include: Their name Your name The total amount given A statement that it is a gift A statement that the gift has no commercial interest Confirmation that the gift giver has no stake in the property Mortgage gift letter template [Date] To whom it may concern, I, John Doe, hereby certify that I will give a gift of $5,000 to Jane Doe, my sister, on July 1, 2022 to be applied toward the purchase of the property at 123 Main Street. I certify that this payment is a gift and that there is no obligation, either expressed or implied, of repayment. Please accept this letter as my written confirmation that: [please include only the relevant paragraphs and delete those not relevant] I/we, (name of person(s)) am/are gifting my/our (relationship to person receiving gift - e.g. nephew, son), (name of person receiving gift) the sum of _(gift amount) in order to purchase (address of new property) Enter the source of the gift (a relative, friend, your employer, local labor union, government agency, or even a charitable organization's bank account). Provide the signature of the donor in the space provided. Enter the date the gift letter form was signed and completed. Provide the name of the donor. Complete our simple contact form.We'll ask you for 4 pieces of information about yourself and give you the option to write us a message.
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If they don't give you a template, you can use our sample template below and just enter your own information: [Donor name, address, phone number and relationship to recipient] [Recipient name and new property address] I have received conflicting advice in regards to gift deposit letters. My mortgage broker has advised that we can simply draft a letter ourselves and this needs to be signed by both my parents. On the other hand, my solicitor has advices that they would need to draft this document and there would be an additional charge of _150 + VAT. Gifted deposit letter template The person giving the gift must always provide a gifted deposit letter to a mortgage lender. It needs to include: Their name Your name The total amount given A statement that it is a gift A statement that the gift has no commercial interest Confirmation that the gift giver has no stake in the property Mortgage gift letter template [Date] To whom it may concern, I, John Doe, hereby certify that I will give a gift of $5,000 to Jane Doe, my sister, on July 1, 2022 to be applied toward the purchase of the property at 123 Main Street. I certify that this payment is a gift and that there is no obligation, either expressed or implied, of repayment. Please accept this letter as my written confirmation that: [please include only the relevant paragraphs and delete those not relevant] I/we, (name of person(s)) am/are gifting my/our (relationship to person receiving gift - e.g. nephew, son), (name of person receiving gift) the sum of _(gift amount) in order to purchase (address of new property) Enter the source of the gift (a relative, friend, your employer, local labor union, government agency, or even a charitable organization's bank account). Provide the signature of the donor in the space provided. Enter the date the gift letter form was signed and completed. Provide the name of the donor. Complete our simple contact form.We'll ask you for 4 pieces of information about yourself and give you the option to write us a message.
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If they don't give you a template, you can use our sample template below and just enter your own information: [Donor name, address, phone number and relationship to recipient] [Recipient name and new property address] I have received conflicting advice in regards to gift deposit letters. My mortgage broker has advised that we can simply draft a letter ourselves and this needs to be signed by both my parents. On the other hand, my solicitor has advices that they would need to draft this document and there would be an additional charge of _150 + VAT. Gifted deposit letter template The person giving the gift must always provide a gifted deposit letter to a mortgage lender. It needs to include: Their name Your name The total amount given A statement that it is a gift A statement that the gift has no commercial interest Confirmation that the gift giver has no stake in the property Mortgage gift letter template [Date] To whom it may concern, I, John Doe, hereby certify that I will give a gift of $5,000 to Jane Doe, my sister, on July 1, 2022 to be applied toward the purchase of the property at 123 Main Street. I certify that this payment is a gift and that there is no obligation, either expressed or implied, of repayment. Please accept this letter as my written confirmation that: [please include only the relevant paragraphs and delete those not relevant] I/we, (name of person(s)) am/are gifting my/our (relationship to person receiving gift - e.g. nephew, son), (name of person receiving gift) the sum of _(gift amount) in order to purchase (address of new property) Enter the source of the gift (a relative, friend, your employer, local labor union, government agency, or even a charitable organization's bank account). Provide the signature of the donor in the space provided. Enter the date the gift letter form was signed and completed. Provide the name of the donor. Complete our simple contact form.We'll ask you for 4 pieces of information about yourself and give you the option to write us a message.