Chipotle invitations customers to unlock $100,000 in Bitcoin

On April 1, the American chain of fast-food eating places, Chipotle Mexican Grill will have a good time Nationwide Burrito Day by making a gift of $100,000 price of Bitcoin, in keeping with a press release revealed at this time.

“Nationwide Burrito Day is a large second for Chipotle,” stated Chris Brandt, Chipotle chief advertising and marketing officer, including, “We’re at all times searching for distinctive methods to reinforce the celebration, and this yr, we’re giving followers the chance to amass two extremely invaluable property: Burritos or Bitcoin.”

https://t.co/VMdOHpnSpd 4/1 at 9am PST. See you there.

— Chipotle (@ChipotleTweets) March 30, 2021

On Thursday, Chipotle will launch a special website, dubbed “Burritos or Bitcoin,” the place customers will probably be supplied 10 tries to guess a sound six-digit password. If profitable, contestants may win one of many three foremost prizes that quantity to $25,000 in Bitcoin every. One other 50 winners will obtain $500 price of BTC every.

The tragic story of seven,002 misplaced BTC

Per the discharge, the competition was impressed by the story of former Ripple CTO Stefan Thomas, who can be the founder and CEO of internet content material monetization platform Coil and a co-creator of blockchain funds protocol Interledger.

Thomas turned well-known earlier this yr when a number of main mainstream media retailers revealed numerous articles about him dropping entry to 7,002 BTC—which might be price over $413 million at at this time’s costs. It is because Thomas’s personal Bitcoin secret’s locked on an encrypted flash drive, known as IronKey, and he doesn’t bear in mind the password to open it.

A painful reminiscence. I hope others can be taught from my errors. Check your backups recurrently to verify they’re nonetheless working. An oz. of foresight may have prevented a decade of remorse.

That stated, I will do what I at all times do which is concentrate on constructing issues, e.g. @Interledger. https://t.co/pCgObeAf4Z

— Stefan Thomas (@justmoon) January 12, 2021

To make issues even worse, the IronKey drive provides customers solely 10 tries to enter the right password—and locks perpetually if none of them succeed. In mid-January, Thomas had solely two tries left.

In homage to the tragic story of Thomas’s (most certainly) misplaced Bitcoins, Chipotle’s contest will emulate this case, albeit with a lot much less cash being at stake. Chipotle defined:

“In a playful ode to Thomas’s expertise dropping the login to his onerous drive that saved $387 million in Bitcoin, Chipotle is encouraging followers to hold out a mock ‘chiptocurrency’ rescue mission and crack the code on its digital pockets.”

The corporate added that aside from $100,000 in Bitcoin, one other 10,000 customers will have the ability to win a free burrito. In any other case, what sort of Nationwide Burrito Day that may be?

Like what you see? Subscribe for updates.