Sports Lists

Football Fan's Clever Bitcoin Sign on ESPN's 'College GameDay' Nets over $20K

@businessinsider
Gabe ZaldivarPop Culture Lead WriterDecember 2, 2013

Do it correctly, and that wacky sign you make for ESPN's College GameDay could net you a cool $20,000 in digital donations through Bitcoin.

By all means, continue ribbing Lee Corso if you like. For the rest of you, The Verge's Adi Robertson has the report of one football fan's major payday. The fan, Reddit user BItcoinPitcher2, received an amazing amount of donations via the peer-to-peer payment network after having his sign featured on the ESPN broadcast.

It all started on Saturday morning, when it became a hit with fans watching from home, especially those on Twitter. 

As we assume, the sign is beloved by those willing to send Bitcoin currency to that particular QR code, resulting in a mind-boggling amount of kind gifts. Robertson writes: 

Instead, a check of the address shows about 22.4 bitcoins in the wallet, or around $22,000 as of this writing. As one Redditor points out, it's always possible this was one person sending money to himself, but there's so far no sign the account was artificially seeded.

Those with the means and the heart continue to send their bitcoins his way, because, as of this writing, the amount of bitcoins in the account is 22.98. 

Business Insider's Joe Weisenthal reports bitcoins are valued at current prices of about $1,100 per unit, which means this fan has over $24,000 as of his writing. 

With 22.98 as of our writing, we would put that at over $25,000. Let's just admit it's all a nice chunk of change. 

A quick look at BItcoinPitcher2's feed on Reddit shows that the remarkable turn doesn't come without a tad bit of worry. The Reddit user turned to the community to ask about the tax implications of receiving such a huge chunk of currency. 

In the end, it seems as though the football fan with an unforgettable sign will be donating the proceeds. BItcoinPitcher2 writes in a recent post, "I'd like to make a donation to Seans Outpost, a non-profit registered in Florida for feeding the homeless. They accept bitcoins directly."

I am hardly an expert in finances, especially those handled in digital currency. And yet, all things Bitcoin continue to rack the brain, especially considering its unbelievable growth. 

Forbes' Robert W. Wood reports bitcoins valued at just $13.50 less than a year ago are now worth about $1,200. Those interested in owning some, take his advice: "Bitcoins exist only online and are stored in virtual wallets. The total number of Bitcoins is not supposed to exceed 21 million. If you don’t want to try mining for yourself, you can purchase Bitcoins through websites like Coinbase.com and Mt. Gox."

Or you can make a sign millions of people will see, including those who have spare bitcoins laying around their own online wallet. 

Normally these signs live on a few days after the weekend in blog posts and tweets boasting some football humor. It's safe to say this is the first we have ever seen of a sign generating an obscene amount of wealth in a relatively short amount of time. 

Forget anything I ever said about fans making signs, because it suddenly seems like a fiscally brilliant venture. 

 

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