Last November, in what he later described as a drunken state, a Redditor by the username, Anndddyyyy, wrote a post claiming that if Bitcoin was below $1000 come January 1, he'd eat his own hat. Unfortunately for him, (fortunate for us!) that's exactly what ended up happening.

"I may be an idiot," he wrote in an update to the original post, "But I like to think I'm an idiot with integrity."

At the time of the original posting Bitcoin was near it's highest value to date, at approximately $1,000. Since then, the currency, with a total market cap of $6.6 billion, has dropped to $524.

In spite of a wildly fluctuating market overall, the currency has remained remarkably stable in the face of revelations about the possible identity of its creator, Satoshi Nakamoto, and the bankruptcy of the once largest Bitcoin exchange, Mt. Gox.