There's Someone Called 'The Bitcoin Billionaire' And They're Randomly Giving Out Thousands Of Dollars On Reddit

Today, something pretty strange happened.

Someone gave away over $13,000 worth of Bitcoins to complete strangers on Reddit.

Some context: for the last few months, Reddit users have been able to “tip” each other with Bitcoins. Basically, the user sets up a “Bitcointip” account. They are then able to tip other users using simple commands within Reddit.

For example, typing “+bitcointip @Username $1usd” will tip that username the Bitcoin equivalent of $1. The recipient of the tip can then export their tip to a Bitcoin wallet (in this case,

(For more information, try reading Bitcointip’s help page here).

As the Bitcointip account writes a message whenever a tip is verified, you can see how people are using. It appears most people use this feature for comical effect — of the most recent tips, most are below $5:

Bitcoin Billionaire


However, earlier today a user who called themselves “Bitcoinbillionaire” began giving out much larger tips:

RedditThat first tip was apparently worth $4680.

Over the day, Bitcoinbillionaire gave out 11 tips, some of which were thousands of dollars. By Business Insider’s calculation, he or she gave away $13627.69896 worth of Bitcoins.

Most of the time, the tip seemed almost arbitrary. Redditors observing the transactions were left stunned:

RedditWho is the Bitcoinbillionaire? We messaged the account to ask for more details, and have not received an answer at the time of writing (we’re not sure we expect one either, the account is clearly a throwaway and they undoubtedly got a lot of messages).

There are snippets of information: he or she claims that they were an “early adopter”, and had forgotten they even had any Bitcoins. “I am bitcoin,” he or she wrote in a moment of megalomania.

Nothing this good can last forever, however. After one user begged for Bitcoin, Bitcoinbillionaire said they had “ruined it”:

“You’ve made me change my mind about this whole thing,” the Bitcoinbillionaire wrote. “I’m done.”

As of 4 hours ago, the Bitcoinbillionaire has apparently stopped giving out tips. They ended this experiment with a quote from Ron Paul:


NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.