Jamie Redman, Author at Ethers News -Daily Crypto currency Feed

In roughly three days, on Feb. 7, Cryptograffiti’s latest art auction on Bitify will come to an end. “Running Bitcoin,” a tribute to the legendary cryptographer Hal Finney, currently has a bid of $31,000 at the time of writing. Over the past few months, Cryptograffiti has been creating very interesting pieces and unique auctions that showcase the bitcoin ecosystem from a different perspective. Also read: Cryptocurrencies Have Spawned an Eclectic Underground Art Movement Repurposed Credit Cards and Bolivars Even if you don’t know Cryptograffiti by name, you’ve probably seen his artwork featured online and on the streets. For instance, one of the artist’s most popular pieces sold last year for $33,000 in cryptocurrency. The work was dubbed “Terrible Store of Value” and was in response to JP Morgan CEO Jamie Dimon’s commentary. Cryptograffiti is also known for his inventive mediums because he doesn’t just use traditional paints and ink. The artist uses repurposed credit cards and U.S. dollars in some of his unique pieces. This week, Cryptograffiti created a picture of Venezuela’s president Nicolás Maduro using Venezuelan bolivars. The picture to the left is Cryptograffiti’s latest art, which is made of repurposed bolivars and is a portrait of Venezuela’s president Nicolás Maduro. The picture to the right is a portrait of JP Morgan’s boss Jamie Dimon called “Terrible Store of Value,” which sold for $33,000 in bitcoin. Artwork That Commemorates the 10th Anniversary of Hal Finney ‘Running Bitcoin’ This week will see the end to another Cryptograffiti art sale hosted on the cryptocurrency auction site Bitify. The latest work being auctioned is called “Running Bitcoin,” an ode to the well known cryptographer Hal Finney. Tales of the Bitcoin network’s early days say that Hal was the first person to receive bitcoins from Satoshi back in 2009. The portrait is placed on a safety deposit box and made with small fragments of credit cards. The artwork “Running Bitcoin” has three days left until the end of the auction and already has a bid for $31,000. Half the proceeds will be donated to help people battling ALS, a disease that Hal Finney suffered from. There’s also an old signed credit card of Hal’s attached to the artwork which was given to Cryptograffiti as a gift from Hal’s wife Fran Finney. Not only is Cryptograffiti’s latest work called “Running Bitcoin,” but the artwork also runs a full node by using a wifi-enabled Casa Node attached to the box. Another interesting fact about the Finney portrait’s auction is that half the proceeds will be donated to an organization that helps people fighting ALS. “50% of the auction proceeds will go to the ALS Association Golden West Chapter who supported Hal during his battle with Amyotrophic Lateral Sclerosis,” explained Cryptograffi Black Swan Sold to the Lowest Micro-Bidder Last December, Cryptograffiti held another auction for a piece called “Black Swan” which was made from repurposed U.S. dollar bills. Unlike traditional auctions, the artwork was sold to the lowest micro-bidder. Black Swan.The really tiny piece of art measured 1.44 in x 1.75 in and the auction used the Lightning Network for bids. On Dec. 19, 2018, at 4 p.m. PST, Black Swan sold for 1 milli-satoshi or $0.000000037 worth of BTC. The small image made of fiat also came with a counterfeit pen used by merchants to tell whether or not a banknote is legitimate. “Yesterday I auctioned this piece to the lowest bidder to help promote the Lightning Network and poke fun at MSM’s focus on bitcoin’s price,” explained Cryptograffiti at the time. The Black Swan auction using the Lightning Network. Many renaissance movements, especially those that have truly affected the world’s economy, have spread beyond the financial sectors of society and filtered into the world of music, theatre, and art. Bitcoin’s surrounding economy is no different and Cryptograffiti’s artwork and the many other digital currency artisans are proof of these evolutionary changes affecting various facets of our lives. The artist’s latest work which commemorates the 10th anniversary of cryptographer Hal Finney’s involvement in Bitcoin is just another example of this trend. What do you think about Cryptograffiti’s work and auctions? Let us know what you think about this subject in the comments section below. Image credits: Cryptograffiti. Need to calculate your bitcoin holdings? Check our tools section. The post Cryptograffiti’s Latest ‘Running Bitcoin’ Portrait Sees Auction Bids of Over $30K appeared first on Bitcoin News. Source: NewsBTC

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