I have two 3rd row tix to Knicks/Oklahoma for tomorrow at 2:00PM that I can’t use. Holler of you want at face…— Jordan Cooper (@jordancooper)December 24, 2013
I DM’d Jordan and asked him how much they were. He told me $300 a ticket and that they are three rows behind the basket. I told him it was a little too rich for me and would pass. Jordan responded that he would like to sell them to a Knicks fan who would enjoy the game and told me to pay what I want. I ended up paying $500 for both seats.
Now this is where it gets interesting. I decided to pay Jordan in bitcoin. If you don’t know what bitcoin is, read this post. We agreed that I would pay him $500 in bitcoin, at the time about 0.7688 of one bitcoin as the price of bitcoin on coinbase at that moment was $650. Now flash-forward almost a month and bitcoin is $950 on the Mt. Gox exchange (making my tickets already worth over $650).
Two thoughts I have:
1) How can bitcoin become a legitimate way to buy something when the price fluctuates like this? (I know it should eventually calm down, but then the allure of “making money” by holding bitcoin goes away and so does the care from regular people).
2) I’m wondering if I just bought, what will become, the most expensive Knicks tickets of all time.