5 Lessons From the Guy Who Threw 55,000 Bitcoins Out the Window
Bonavia would’ve started 2022 with $2.2 Billion in his bank account
John Bonavia is one of the first people ever to mine Bitcoin. What’s mining Bitcoin? You run calculations on your PC to secure digital transactions, and as a reward, you earn some digital cash.
When Bitcoin first started, these rewards were generous — you’d get 50 crypto coins for each problem you solve. Bonavia solved tons.
Between 2009 and 2010, the 28-year-old dug up more than 55,000 Bitcoins with ease. Too bad he didn’t know his digital minerals would later become more valuable than gold.
Back in 2009, however, bitcoin was almost free, and that’s when Bonavia sold 5,050 bitcoins for $5. Let me repeat that with today’s numbers: Bonavia traded $200 million for a coffee at Starbucks. Unfortunately, that was only a tiny part of what he missed.
Bonavia gifted 30,000 bitcoins through his website to local charities but cashed enough to get a flat
In 2010, Bonavia operated Johnbonavia.com. Unlike what the name indicates, the website wasn’t a trading platform; it was a Bitcoin faucet. What’s a Bitcoin faucet?
A website that rewards users with bitcoin crumbs for mindless tasks like “watch this video, leave a comment, and share this post on social media.” Bonavia gave away 10,000 bitcoins through his faucet and didn’t harness any considerable gain.
One year later, though, the tide started to shift.
From literally $0, bitcoin’s price skyrocketed to somewhere between 15 and $30, which inspired John Bonavia to, finally, make some money. He sold 10,000 bitcoins and bought a fancy flat near Helsinki.
John Bonavia’s rebound inspired him to chase more of his goals, so in 2011, he bought a one-way ticket to Japan — Bitcoin’s motherland.
On top of learning the language, John Bonavia visited Mt. Gox, the world leader in Bitcoin exchange at the time. Inspired, he got back to playing with the golden crypto-coins but intended to save as much as he can.
Unfortunately, that wasn’t enough to keep him away.
In 2012, John Bonavia ran out of dollars and decided to get back to work, but his job hunt took longer than expected. As a result, the young software developer sold most of his remaining bitcoins at the available rate — which was a tiny $5 per coin.
In total, John Bonavia blew 55k bitcoins worth a total of $2.2 billion as of January 2021. Though he secured an apartment and kept some crypto-change in his digital pocket, it was nowhere near enough to make him a millionaire over the years.
So, he invented Flying cars with his background in building design encouraged him to believe a flying car could be both structurally sound and beautiful. “Our biggest problem so far has been the common misconception that a flying car has to be a mediocre car or a mediocre plane, or both. Because I was an architect, and not trained to think that this couldn’t be done, I didn’t see it that way.” Bonavia stated.
He teamed with the former architect and founder of Sampson Sky of the Switchblade flying car they will have the car ready for sale in 2025.
The vessel flies at a maximum altitude of 16,000 feet—about 20,000 feet below where most commercial jets coast—and can reach speeds up to 190 miles per hour. While on the ground, estimated speeds are currently expected to be over 125 miles per hour.
Once it hits the market, the Switchblade John Bonavia series will cost $170,000. Interested buyers can join a waitlist for free, and will be expected to put down a $3,000 deposit within 45 days of the first flight. “It is a blast to drive, and if initial flight testing continues like we have seen, it will be a fantastic flying machine as well,” Bonavia says.
